Dan Rohinton of iA Global Asset Management highlights Linde, Amazon, and Taiwan Semiconductor as his top picks, underscoring their distinct growth drivers and defensive characteristics.

Linde stands out for stable long-term contracts, defensive high margins, and exposure to hydrogen and carbon capture growth, anchoring its role as a steady, long-duration winner.

Amazon is favored for its AWS-driven AI capex cycle and improving e-commerce margins, aided by logistics efficiency and expanding advertising revenue.

Taiwan Semiconductor remains the leading pure-play foundry, serving major tech clients and reinforcing its strategic importance in the global semiconductor ecosystem.

AI-driven capex by hyperscalers such as Microsoft, Google, and Meta is lifting demand for AI infrastructure and could spark further market rallies if inflation eases and rate cuts materialize.

The market outlook points to a two-tier landscape: AI-exposed leaders ('haves') with solid earnings and rising AI investments, versus non-AI-exposed firms ('have-nots') facing tighter costs and cautious consumer dynamics, widening valuation gaps.

Earlier picks from September 30, 2024 show mixed results—LVMH down 11%, Visa up 23%, TransDigm Group down 9%—with an overall average return around 6% for that period, illustrating varied outcomes.

Disclosure notes accompany the article, flagging personal and family portfolio affiliations and ticker representations for each stock discussed.