Generally over-owned, overvalued and cyclical stocks. No particular view on earnings other than it will be spun positive even if it is less than expected. Everyone gets a pass, until they don’t, and non-GAAP reporting masks reality. Read annual reports for AMZN, NFLX or MSFT. Look at the earnings, balance sheet. See if your optimism is supported by facts.
MSFT little organic growth meets EPS largely through stock buybacks. AMZN will never grow into trading valuation. NFLX negative cash flow adding to debt as if there are no future consequence, books content as an asset ( think Gilligan’s Island reruns). GOOG and FB dependent upon ad revenue that disappears in a recession, therefore most cyclical, but little financial gimmicks. AAPL reasonable valuation but increasingly dependent upon iPhone refresh cycle.