$BKNG - Dominant online travel platform bought cheaply during COVID with strong moat against Google/AI disintermediation. Management executing well with direct traffic growth.
$SAAS - SaaS companies trading at depressed valuations due to AI fears, but many can integrate AI into their workflows and benefit from the technology rather than be disrupted.
$ALTDATA - Data and analytics firms unfairly punished by AI fears but still provide essential services that AI cannot fully replace.
Bearish:
$TSLA - Growth has stalled, competition from BYD intensifying globally, and valuation still assumes unrealistic robotaxi/robot future.
$GOOGL - Massive AI capex destroying free cash flow with unclear returns, flat FCF for 5 years despite revenue growth.
$GROWTH - Growth stocks losing momentum with mag seven concentration unwinding and value starting to outperform across multiple timeframes.