Why Mario Gabelli Is Optimistic about Apple, Amazon, and Google
Mario Gabelli’s stock picks
Mario Gabelli is optimistic about major technology stocks (XLK) such as Apple (AAPL), Google (GOOGL), and online retail (XRT) giant Amazon (AMZN). He said that these stocks are some of his top holdings. He also has an optimistic view on the media and telecom sector.
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Gabelli said that these three stocks are excellent in their specific field and that they are always focusing on innovation, which has been a major growth driver for them. In 1Q17, Amazon and Google reported strong earnings, which helped them reach new highs.
Performance of these stocks
Apple has returned nearly 30% on a year-to-date basis as of May 8, 2017. The stock has returned ~20% in the past two years. Google has risen ~76% in the past two years. On a year-to-date basis, it returned ~17.5%. Amazon returned ~25% on a year-to-date basis and 118% in the past two years. The S&P 500 Index returned ~6% on a year-to-date basis and 14% in the past two years.
In the next part of this series, we’ll analyze Mario Gabelli’s view on the media and telecom sector.