Charles’ Take: The Case for Tech Infrastructure

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He's earned decades of Wall Street success, a lifelong student of the market

who learned to navigate the world of finance with unshaking confidence,

an underdog who achieved the American dream. Now the Fox Business Host is sharing all his

investing wisdom with you on Charles Payne's unstoppable prosperity podcast.

All right, folks, now my next guest says that the very case against tech makes no sense,

right? And it can't be so, put it this way. It can't be so insignificant and that all of

the spending is a waste, but at the same time, it's so scary that it's disrupting every business,

right? They both can't be right. Infrastructure capital management, CIO, J-Hafford with this.

Jay, you know, before we get into the madness and hypocrisy, just real quick, I want to

get your thoughts because you look at the broad economy. CPI number, I know, felt like irrelevant

with the future numbers coming out, but we've been heading in the right direction.

Thanks, Charles. Well, yeah, absolutely. And it's important to note that if you real measure

real inflation, trueflation or we published realflation, it's already below two. But the problem is

that the two key leading indicators are inflation are oil prices and money supply.

Money supply's down. Obviously, oil prices are huge. So the fed's going to be on hold until

the straight of a hormone is open. Let's talk about the short answers on technology, you know,

tech stocks, you know, for whatever reason, for the most part, have been getting a hit here a little

bit, certain parts of them. But here recently, the short interest has gone absolutely through the

roof. I like when this happens. I, you know, I start looking at my chats because I see this,

I'm thinking short squeezes at some point. Absolutely. And this happens when earnings season is over.

But earnings season produces real information. You saw it from all of the infrastructure providers.

We think that's the lowest risk area to be in because there's clearly going to be a lot of

applications. So we know that that infrastructure is going to use. Marvell blew out their earnings,

Oracle blew out their earnings, Broadcom blew out their earnings. So earnings is the real

discipline. And last point that there was a rotation because the Fed was going to cut now the

feds on hold that rotation should stop and we think tech will do better. America leads the

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One tech name you just mentioned Oracle. Obviously it had gotten a hammer. Pretty good.

Having a pretty good day-to-day. I know at one point you owned it. Would you be a buyer here?

We owned it in our hedge fund. We have a small position in PFFA, our preferred stock fund because

they issued a big mandatory. And we liked it. We liked it going to the print. And it was super

positive because both short these disease were disproven. First of all the SaaS integrated

providers are not being displaced are actually probably stronger. Being augmented.

Right. Well, because you know, I don't really never understood it. We're not going to go

right our own outlook. And these are much more complicated businesses than ours. So they

can't get rid of Oracle. So that was ridiculous. And their cloud business is improving in the

capex is coming down because they're getting the clients to pay for it. So both of those short

these disease were blown up and the stock is probably a short covering rally now.

I'll ask you about another stocker. Amazon, again, it's one of these names where

it's just has sort of been sideways for a long time. Even while the rest of Max said

when we're still working. This is the poster child for over rotation to other stocks.

Walmart trades at 45 times earnings. This trades at 20. This grows twice.

Walmart does to the peg of Walmart's four times Amazon. Huge buy and also not that risky 1.4

beta. So if you buy it and the market gets hit because of the war go down a little but not a lot.

So we think it's a good entry point for Amazon. And obviously that means you love the risk of

work. Just 15 seconds to go. Overall, what are you telling clients right now, you know, with this

market? We're remaining bullish. We think the war has to end. Everybody in the world except

Iran wants the straight up or moves to open. It will open. We don't know exactly when within a month

maybe two weeks. So stay the course and be bullish. They wanted to open to it at some point.

That's the only source of revenue. The only source. Okay, thanks a lot, my friend. Thanks,

Trouble. You've been listening to the Charles Payne's Unstoppable Prosperity podcast.

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