By coinnews 
00:00 Speaker A
The magnificent seven struggling this year, each of the stocks down more than 23% from their most recent 52 week high amid ongoing tariff uncertainty. This as the mega cap companies begin reporting first quarter earnings. Joining us now, Paul Meeks, Harvest portfolio management CIO. Paul, great to speak with you this morning. Talk to me about your expectations for the mag 7 as we kick off mag 7 earnings with Tesla today. How disappointed do you think investors might be?
00:41 Paul Meeks
Well, with Tesla, the way I look at this stock is a year or so ago, the stock traded as low as 140. And at that time, its fundamentals were much better than they are today. So, even though Tesla’s way down, I think it can go lower. I don’t think they will have anything positive to say today. And of course, Elon Musk and company will try to dissuade you into thinking they’re no longer an EV company. So don’t look at their cars, but they’re a autonomous taxi company. Believe it when I see it. So I don’t expect much from Tesla but negativity. I haven’t owned the stock in a while. As far as the rest of the mag 7, you know, I’ve had a very refined list. I’m fairly bullish on meta and Amazon long term. I’m not playing right now any of the others. And even those two stocks that I favor within the group, I’m a little bit dicey on. So what I would tell people is, even if you’re tempted with these stocks down so much from their tops, just wait until they report their results. Wait till you clear that news. People always feel like they need to maybe try to make an aggressive bet heading into earnings. I just think for all these companies, the earnings period, whether they make their quarterly guidance or not, no one is going to be able in this environment to give much confidence with their guidance. And so I’d rather wait to hear that.
03:41 Speaker A
You have some of your industry colleagues such as Wedbush’s Dan Ives calling this a code red moment for Tesla. I wonder what you would like to hear from Elon Musk on the call about how he’s governing his time knowing that everybody can see where he had spent his time in previous quarters in the last two quarters specifically. But now when you have this kind of critical moment for car and vehicle sales that are reaching this impasse, that investors are going to want to hear more about how they’re going to turn that around. What do you want to hear about how Elon Musk is spending his time on a go forward basis?
04:39 Paul Meeks
Now, there had been some rumors a couple of weeks ago that he was going to wind down his doge commitments. Haven’t heard any follow-up particularly from the people that matter, the president and Musk himself. But yes, I would like to see, of course, I’m not positive on the stock at all. I’m negative on the stock. I would like to see him commit to a deadline where he finishes his government duties and moves back to managing his companies.