TopPicks from Stan Wong, portfolio manager at Scotia Wealth Management
Stan Wong, portfolio manager at Scotia Wealth Management, discusses his top picks: Amazon, Cigna, and Suncor Energy.With over US$520 billion in projected 2022 revenues, Amazon continues to be the undisputed leader in e-commerce and cloud services.
shares are down nearly 40 per cent from its November highs, presenting a compelling opportunity for long-term investors. While e-commerce may struggle this year due to inflationary pressures and a post-lockdown resurgence in physical stores, Amazon’s cloud business – Amazon Web Services continues to gain significant traction. AWS now enjoys about one-third of the world’s market share in cloud infrastructure.
reports its next quarterly results on July 28.Cigna provides pharmacy benefit management and health insurance services in the United States. Its pharmacy benefit management services segment was greatly expanded through the merger with Express Scripts in 2018. Today, its largest pharmacy benefit management contract is with the U.S. Department of Defense. With insurance, the company offers life, accident, disability, supplemental, Medicare, and dental insurance products and services.
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