Nvidia, CSL, and the 26 other stocks the experts loved at Livewire Live 2024

Who doesn’t love a good stock tip from an expert? Don’t answer, it’s a rhetorical question. In an Oprah-like display of generosity, the experts at Livewire Live 2024 delivered across sectors, countries and even themes. While Nvidia may have been both mooted and disputed over the course of the day, there was plenty more to consider.

If you missed all the tips on the day, or couldn’t attend, don’t fear. In this wire, I’ll list out the key stocks to watch and why. I’ll also share the complete list of all stocks that the experts hold or have a positive view on.

The stocks that tap into the biggest themes of today

AI trends and the need for data

Australian stocks

• JB Hi-Fi (ASX: JBH)
  Investors may be surprised to see JB Hi-Fi on the list for AI trend exposure, but Tribeca's Jun Bei Liu points out that when we start to see affordable AI-enabled PCs hit the market, a company like JB Hi-Fi will benefit. Plus, the last PC surge JB Hi-Fi enjoyed was during COVID, meaning that people will be ready to update again in the next few years.
• Goodman Group (ASX: GMG), NextDC (ASX: NXT) and Infratil (ASX: IFT)
  AI is data-hungry and needs infrastructure, which is why Liu sees much to like in the future prospects of data centre operators like Goodman Group, and NextDC, along with Infratil, which also operates a range of other infrastructure.
• Telstra (ASX: TLS)
  Wilson Asset Management’s Matthew Haupt believes that Telstra will benefit from the growing need for data and is actually growing again.
• WiseTech (ASX: WTC)
  According to Fidelity’s James Abela, WiseTech is a standout in the tech field, it helps solve problems and grow productivity. First Sentier’s Dushko Bajic also named it as a top pick given its stellar growth since listing and strong management.

Global stocks

• AMD (NASDAQ: AMD)
  Antipodes' Jacob Mitchell thinks there’s opportunity for AMD to take market share from Nvidia with its TPU chips – there’s still some mileage left in the semiconductor space.
• Axon (NYSE: AXON)
  Munro Partners' Nick Griffin sees value in the Axon smart devices which can help increase productivity, for example, body cameras which can automatically draft police report narratives based on the camera audio.
• Capital One Financial (NYSE: COF)
  Banks and financial services have the opportunity to transform and improve their businesses and customer experiences using AI and machine learning. Mitchell favours Capital One Financial in this space which is heavily hiring and investing in this space. It is using AI across customer service, fraud detection and to improve operational efficiency.
• Nvidia (NASDAQ: NVDA)
  The biggest player of the AI-boom remains a winner for Griffin, although Mitchell thinks the best is behind us. Griffin argues we are only 18 months into the boom in spending from companies like Google, Microsoft, Amazon and Meta on Nvidia’s GPU chips. He describes Nvidia as “the ultimate winner takes all company”, able to become the hardware and software for the AI trend.
• Oracle (NASDAQ: ORCL) and Workday (NASDAQ: WDAY)
  Mitchell likes software applications of AI that make life easier like Oracle and Workday and have ongoing growth opportunities.
• TSMC (TPE: 2330)
  Both Mitchell and Griffin see value in TSMC, given its monopoly in the chips market. Mitchell points out that it has a P/E of 18x compared to the much higher valuations of Nvidia.

The constant innovations in biotechnology

• CSL (ASX: CSL)
  Haupt remains a strong believer in defensive sectors like healthcare, and CSL continues to be a top pick. He believes current pricing under $300 is good value for the market darling.
• Pro Medicus (ASX: PME)
  The healthcare imaging software provider got the nod of approval from Abela, Liu and Bajic. Liu also sees this as a promising AI exposure.
• RadNet (NASDAQ: RDNT)
  Griffin likes diagnostic imaging company RadNet which taps both into healthcare themes and as an AI exposure which will continue to grow because AI offers an enhancement to its services, rather than being an AI pure-play.
• Transmedics (NASDAQ: TMDX)
  One of the biotech innovations Abela is most excited about is trying to improve the world of organ transplantation. He notes the company has just become profitable and has FDA approval for its organ transplant system.
• Vertex Pharmaceuticals (NASDAQ: VRTX)
  Plato Asset Management’s Dr David Allen nominated Vertex Pharmaceuticals as his top pick for the coming years. He argues that Vertex has already significantly improved the lives of those with cystic fibrosis with its treatment and is about to transform the market for treating chronic disease, offering a non-addictive and highly effective alternative to opioids that teats pain at the peripheral nerve endings.

The energy transition

• Alcoa CDI (ASX: AAI)
  Antipodes' Vihari Ross tips aluminium miner Alcoa as her materials pick for the energy transition.
• Ameren (NYSE: AEE)
  Ross also likes Ameren which holds several power and energy companies in the US and is continuing to invest in rate-regulated energy infrastructure – an essential for the energy transition.
• Gaztransport & Technigaz SA (EPA: GTT)
  GTT is an engineering company that specialises in membrane containment systems for transporting and storing LNG. Abela likes this as an exposure to the energy transition given its specialisation.
• Hyundai (KRX: 005380)
  The typical pick for investors wanting EV and energy transition exposure may be Tesla (NASDAQ: TSLA), but Ross argues in favour of Hyundai, a more diversified exposure that is benefiting from growing demand for hybrid vehicles.
• NARI Group Corporation (SHE: 600406) and Siemens (ETR: SIE)
  When it comes to power equipment, Ross favours Nari Group and Siemens which facilitate automated power systems, smart grids and other equipment to support renewables.

Defence spending

• Lockheed Martin (NYSE: LMT) and Rolls Royce (LON: RR)
  Allen views this as one of the megatrends of the next five years, with global spending reaching $3.5tr last year. It was the biggest increase since the GFC and “defence is defensive in a portfolio”. Allen cites Lockheed Martin and Rolls Royce as low-beta names in this space.

Two other stocks for the coming years

• Breville (ASX: BRG)
  Ben Griffiths of Eley Griffiths Group is starting to see a long-held US trend appear in Australia – good cost management. Breville is his top pick because of its astute cost management, ongoing investment in product development and it is growing market share in Europe.
• Bluescope (ASX: BSL)
  L1 Capital’s James Hawkins is seeing emerging value in the resources sector, with Bluescope his top pick. He noted that 60% of earnings going forward will be from the US and it is trading on a mid-teens P/E. He’s also anticipating a double-digit free cash flow yield in a few years.

Trading strategies

There were two other interesting calls made on the day surrounding trading strategies.

Allen is shorting embattled developer Lendlease (ASX: LLC), while Haupt has been taking advantage of a day trading quirk in Commonwealth Bank (ASX: CBA). It moves sharply upward over the course of the day, and trades at highs at the close of the day off the back of index trading. Haupt buys at the open and sells at the close to generate extra returns for his portfolio.

Want more? Here’s the complete list of all the stocks the experts were positive on