Aristotle Capital Management, LLC, an investment management company, released its “Aristotle Global Equity Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -13.17% at NAV compared to a -15.66% return for the MSCI ACWI Index and -16.19% return for the MSCI World Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Aristotle Capital discussed stocks like Amgen Inc. (NASDAQ:AMGN) in the second quarter 2022 investor letter. Headquartered in Thousand Oaks, California, Amgen Inc. (NASDAQ:AMGN) is a biopharmaceutical company. On October 6, 2022, Amgen Inc. (NASDAQ:AMGN) stock closed at $230.94 per share. One-month return of Amgen Inc. (NASDAQ:AMGN) was -6.76% and its shares gained 10.52% of their value over the last 52 weeks. Amgen Inc. (NASDAQ:AMGN) has a market capitalization of $123.537 billion.
Here is what Aristotle Capital specifically said about Amgen Inc. (NASDAQ:AMGN) in its Q2 2022 investor letter:
“Amgen Inc. (NASDAQ:AMGN), the pharmaceutical company focused on biotechnology-based therapeutics, was also a top contributor for the quarter. The company reported solid results, with a variety of products, such as bone-strengthening drugs Prolia and EVENITY, contributing to overall revenue growth. Amgen continued to increase the market share for cholesterol drug Repatha (a catalyst we had originally identified), delivering record quarterly sales as the drug’s usage expands with high-risk patients who have not yet had a cardiovascular event, and as barriers for prescribers, healthcare systems and patients are removed. In addition, we believe the company is poised to gain market share with its biosimilars (akin to generic versions of biologic drugs), also a previously identified catalyst. Biosimilars accounted for over $2 billion in revenue in 2021, and we believe this has the potential to more than double by the end of the decade, accelerated by six additional biosimilars (for a total of 11 products on the market). This includes the upcoming launch in the U.S. of arthritis treatment Amjetiva in January 2023. Meanwhile, the company is advancing its robust pipeline of early- and late-stage assets, with several phase III results due this year. These developments have caused us to remain enthusiastic about Amgen’s ability to build on its decades of success developing novel treatments using biopharmaceuticals.”
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Amgen Inc. (NASDAQ:AMGN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held Amgen Inc. (NASDAQ:AMGN) at the end of the second quarter which was 56 in the previous quarter.
We discussed Amgen Inc. (NASDAQ:AMGN) in another article and shared the best dividend stocks for steady growth. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.
Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.
At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.
Do the math. According to Musk, this technology could be worth $250 trillion by 2040.
Put another way, that’s roughly equal to:
175 Teslas
107 Amazons
140 Metas
84 Googles
65 Microsofts
And 55 Nvidias
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Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.
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In fact, Verge argues this company’s supercheap AI technology should concern rivals.
Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.
Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.
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