Amy Raskin's Portfolio Moves: Buying ASML, Selling Disney & American Express

Key Portfolio Adjustments

• 💡 Amy Raskin has bought more shares of ASML, believing that negative news is already priced into the stock after its earnings and booking number decline.
• 🎯 Raskin anticipates ASML will pass on tariff increases and benefit from redundancy in the semiconductor supply chain.

Rationale for Selling Major Holdings

• 💰 American Express (AMX) was sold due to perceived risks associated with the aspirational consumer and potential impact of a wealth effect on credit card spending.
• ✈️ Disney was sold due to concerns about anti-American sentiment, which is expected to negatively impact scheduled visits and revenue, particularly from Canadian tourists.

Market Commentary on Salesforce

• ⚠️ A downgrade of Salesforce to 'underperform' is discussed, with the analyst citing a focus on AI over its core business.
• 📈 Raskin disagrees with the downgrade, highlighting Salesforce's diversified business, strategic acquisitions, and strong expense management.