Quality x Momentum Issue 19

Goldman Sachs highlights a tactical shift toward AI infrastructure beneficiaries and cyclical industrials while rotating out of software stocks facing negative momentum. The report uses systematic 'Quality x Momentum' screens to identify high-conviction buy and sell ideas.

Key Takeaways

• 1.The report advocates buying AI Capex beneficiaries across Semiconductors, Industrials, and Grid infrastructure as hyperscalers trade sideways.
• 2.Cyclical industrials like Parker Hannifin are recommended based on margin beats and strong orders driven by US government fiscal impulses.
• 3.Tele2 is highlighted as a consolidation favorite following increased economic rights from iliad Holding's Freya Investissement.

Table of Contents

• 1. Buy AI Capex Beneficiaries
• 2. Buy Cyclical Industrials
• 3. Buy Telco Consolidation
• 4. Sell ‘Software at Risk’
• High Quality Stocks Gaining Momentum this Week
• Stocks exiting Quality/GS Sell-Rated Stocks Losing Momentum This Week
• New Entrants to Quality
• Methodology

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