JMC Investments Blog

AVGO is my favorite company in the S&P 500, even slightly ahead of NVDA as a result of having better diversity in products.  It is presently trading at $398/sh as of market close on November 26, 2025.  AVGO has a blended P/E of 58.34 x according to Fastgraphs and is therefore trading at a high premium (overvaluation).  However, I believe it may continue to trade at a high premium for at least the next 1-2 years, as it just added a fourth major customer in GOOG for it's TPU's.   In the image above, the black price line is well above the orange Fair Value Ratio line, indicating that AVGO is trading at a premium as of this writing.   In the above image, I used a slightly lesser P/E of 43.97 as I believe Broadcom will likely continue to trade at a premium for much of the time through 2027, so this is still an overvalued P/E forecast based on analyst projections.  This would yield a max price of $540/share by 12/31/2027 or an increase of +36% from ...

As most people know, Netflix is a giant in the media and entertainment services.  It has been around for more than 20 years and continues to take the S&P 500 to school for performance.  As of this writing, I feel that it is a great company trading at near fair valuation with continued strong growth projections (EPS gains of >20% annually).   In the image above, as of November 18, 2025, we can see the black price line is trading below the orange fair valuation line for the 15-year historical chart.  We can conclude that NFLX is actually near to slightly below fair valuation presently.  The earnings per share growth is greater than 20% for at least the next few years.  Therefore, those who are currently holding NFLX shares can probably feel pretty comfortable holding or adding to their positions.  And for those who do not own shares presently, this is an opportunity to add a position.   Since about 2019 (image above), NFLX has show...

 NVDA:  Trading at near fair valuation Above:  NVDA's 10 year chart with two year forecast.   Above:  NVDA 10 year performance versus the S&P 500.  It's not even close.  Nice dividend growth rate.  ------------------------------------------------------------------------------------------------------------------------------ AMZN:  Trading at Below Fair Valuation.  Above: AMZN 10 year historical chart and two year forecast.   Above: AMZN   10 year performance versus the S&P 500 for $10,000 invested on 12/31/2015.   -------------------------------------------------------------------------------------------------------------------- FTNT:  Trading at Near Fair Valuation.     Above:  10-year historical chart for FTNT including a two year forecast.   Above:  FTNT 10 year performance of a $10,000 investment versus the same investment in the S&P 500. Not even close!...