The Morning Filter 5 Stocks to Buy Before Growth Stocks Come Back
18 snips
Apr 13, 2026 
Dave Sekera, Morningstar’s Chief U.S. Market Strategist, offers market outlooks and stock analysis. He discusses market reactions to the U.S.–Iran truce and macro risks like oil and volatility. He previews what to watch in bank and big-tech earnings. He evaluates names such as J&J, ASML, TSMC, Netflix, and Veeva, and highlights five undervalued growth picks to consider.
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Trim J&J After Big Run While Retaining Core Exposure
- Take chips off the table in Johnson & Johnson after its run but keep it as a core holding.
- J&J trades 31% above fair value, up 61% over 52 weeks and at ~21x 2026 guidance, so consider partial profit-taking.
ASML Faces Execution And Policy Risk Not Demand Shortage
- ASML's issue is execution and export-policy risk rather than demand; backlog is record-high so cadence of shipments matters.
- Market will focus on shipment timelines in 2026 and potential U.S. export restrictions to China.
Use TSMC To Gauge AI Buildout Momentum
- Use Taiwan Semiconductor as an early read on AI buildout cadence by watching training vs inference demand and CapEx signals.
- Look for signs of rising inference demand and any manufacturing dislocations from inputs like helium or energy costs.