Gina Sanchez explains why these two mega cap stocks are a buy
In a market that continues to punish the mega cap stocks, Gina Sanchez – the chief market strategist at Lido Advisors, remains bullish on the following two.
Walmart Inc (NYSE: WMT)
The retail giant did fairly well during the pandemic and now Sanchez is convinced it’ll turn out to be an even better reopening stock. This afternoon on CNBC’s “The Exchange”, she said:
Now they’re playing the reopening game. If anybody can handle supply chain problems, it’s Walmart. They boast one of the top logistics team in the world. So, this is a stock we think can manage and navigate the risks and still give you defensive returns.
The American multinational is expected to report its Q1 results on May 17th. Ahead of earnings, the stock is down nearly 8.0% from its year-to-date high.
Nvidia Corporation (NASDAQ: NVDA)
The semiconductor giant is down almost 45% year-to-date, which, as per Gina Sanchez, makes up for a fantastic opportunity to buy a market leader at a deep discount. Speaking with CNBC’s Kelly Evans, she noted:
The underpinning for almost all demand going forward seems to be in the digital space. And that’s reliant on the Cloud, which is reliant on semiconductors. Nvidia is easily the top player in this space right now. The Cloud trend is just not going away.
Nvidia will also be reporting its quarterly results before month end. According to Motiur Rahman – financial analyst at Invezz, the Santa Clara-headquartered company is headed for $280 a share.
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