Nasdaq hits an all-time high

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The Nasdaq 100 closed at an all-time high, as Apple got a boost from an analyst upgrade and tech stocks jumped on a strong earnings report from Taiwan Semiconductor Manufacturing which could indicate a tech recovery this year. Traders brushed off the jobs data where initial jobless claims fell unexpectedly which hinted at a tight labor market. Meaning? Rate cuts could happen later than expected. Fed Bank of Atlanta President Raphael Bostic said yesterday that he didn’t think the first rate cut will happen until the third quarter and urged Fed officials to move carefully due to elections and geopolitical conflicts. Chris Zaccarelli at Independent Advisor Alliance believes it is “difficult to get too bearish” due to a strong economy and the rally is likely to continue until the “last skeptic has been converted.” - “Given the underlying strength of the US economy, it’s difficult to get too bearish at this point,” said Chris Zaccarelli at Independent Advisor Alliance. - “The pervasive pessimism and doubt about the stock market and economy is a contrarian signal and one of the best reasons to push against the crowd. Once the last skeptic has been converted, the market will be again vulnerable to a large shock, but we aren’t at that point yet.” Chris Zaccarelli at Independent Advisor Alliance (Photo: Fox Business) Hedge funds now hold the highest level of net-long Nasdaq 100 futures in nearly seven years, according to Societe Generale. Moreover, Bank of America’s global fund manager survey revealed that this month’s most-crowded trade is going long on the “Magnificient Seven” stocks and other tech growth stocks. Why? They are betting on big growth once the Fed start cutting rates. TSMC’s strong earnings report was “definitely bullish,” said Matt Maley at Miller Tabak + Co. He believes it could push the stock market higher “going forward.” Today, we will get two key economic data -- existing home sales and University of Michigan consumer sentiment. Next week, more sectors will start reporting their results so there might be volatile trading ahead of us. A Sneaky Play On The Labor Shortage Today’s Stock Pick: Omnicell, Inc. [(OMCL)]( Omnicell is one of the most intriguing Silicon Valley companies that is trading at a discount. The economy might slow down, but Omnicell’s products address the pressing issue in the medical industry: Labor shortage. Omnicell’s platform helps the customers mitigate the labor issues by automating the vast amount of routine pharmacy work. For example, two products (IV Compounding Service and Central Pharmacy Dispensing Service) use robots, analytics and experts to automate some of the most labor-intensive areas of the pharmacy. Additionally, Central Pharmacy Dispensing Services reduces the time that a pharmacist is required to check prescriptions by up to 90%. (Photo: Omnicell) A SaaS product called Omnicell One uses analytics to eliminate manual tasks and notifies pharmacy staff when to perform key tasks, such as a cabinet restock. This improves the efficiency of a labor force in the hospital that is nearly always running to its full capacity. And its new personalized Interactive Voice Response solution has shown the potential to reduce the number of calls that a pharmacist needs to handle by at least 15%. All in all, Omnicell’s products automate and lighten pharmacists’ workloads. So far, customers are loving it. Omnicell has long-term sole source agreements with more than 50% of the top 300 health systems in the country.  And it boasts over 99% customer retention. Massive TAM: Omnicell believes that the sum of its addressable markets is at $90 billion. Let’s assume that Omnicell wins 10% of this market share. (Remember, Omnicell does business with over 50% of the top 300 health systems.) At a 10% market share, we are talking about $9 billion in revenue. That’s nearly 9 times larger than last year’s revenue. So, the opportunity is endless. (Photo: Omnicell) Future guidance: Omnicell recently maintained its long-term guidance that has a 14-15% revenue CAGR through 2025. What’s more, it wants 20-30% of its revenue to be recurring by 2025. And lastly, it forecasts the non-GAAP EBITDA margin to increase by 4%. That’s a powerful combination – high revenue CAGR with rising EBITDA margin. That’s an engine for a soaring EPS, which Wall Street loves more than anything else. (Photo: Omnicell) Bottom line: With the labor shortage, it becomes critical for pharmacies and hospitals to automate the workflow. They have no choice. So, the next five years are perfectly set up for Omnicell to grow rapidly. Grab this stock while it’s early. [EARN WHILE YOU LEARN! JOIN OUR FREE LIVE TRADING SESSION!](       © All Rights Reserved, Trade Alliance [Unsubscribe]( | [Manage Preferences](