Saturna Capital's Top Picks: Apple, Delta And Power Solutions
Paul Meeks, director of institutional investing and Sextant Growth Fund portfolio manager at Saturna Capital, was on CNBC Friday to discuss the outlook for the markets overall and his current top picks: Apple Inc. (NASDAQ: AAPL), Delta Air Lines, Inc. (NYSE: DAL), Power Solutions International Inc (NASDAQ: PSIX).
A Little Nervous
"We had some money into the fund and so when that comes in, you have to either invest it or not," Meeks began. "And I am just a little bit worried.
"I am not necessarily worried about what happens in Greece for the long term. But in the very short term, particularly when you have cash coming in every day, I am a little nervous."
The Sector
"And also, my sector expertise is technology. And so, you would expect me to go with what I know best [...] the portfolio is heavy technology.
"And frankly, I like the fundamentals of some of these names, particularly the new themes in tech like Internet of Things (IoT), big data analytics, cybersecurity. But, I don't like the valuations."
Apple And Delta Airlines
Meeks was asked which stocks he is adding and taking out of his portfolio. He replied, "Last time, I had both Apple and Delta Airlines in the portfolio and I am sticking with them."
He explicated, "Apple has worked out well; I am still bullish. Though my interest in Apple is its valuation and the fact that I think the iPhone 6 ramp continues to surprise the upside, I just see it as simply icing on the cake what they are doing in streaming music and also with the Apple Watch."
Power Solutions International Inc
Meeks revealed that he is also adding Power Solutions to his portfolio and thinks that "over the next couple of years, the stock is a double."
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