Aniket Pujari(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Piper Sandler makes its case for “buying the dip”, giving a list of stocks. Also, a trader looks for opportunity in an AI play that was recently upgraded. Worldwide Exchange Pick: Cloudflare (NET) Tiffany McGhee of Pivotal Advisors said Cloudflare is a smart buy because of the versatility of its business. “It has the potential to lead in AI and cybersecurity,” McGhee said. “It has a user friendly and scalable model as well as strength in network security, particularly with its Secure Access Service Edge (SASE) architecture.” Cloudflare was double upgraded by Bank of America with week moving its rating to a buy and raising its price target to $160. Piper Sandler says “buy the dip” Craig Johnson of Piper Sandler said the market is in an “intermediate term low’ and now is a time to buy stocks that have been impacted by the volatility. “There is no question that the longer term trend which is the secular long term trend still remains intact,” Johnson said. “This to us looks like a correction within the context of a long term secular uptrend. Keep in mind, it took only 22 days to get a 10% correction in this market and our research shows … the faster the slide the faster the recovery is what we have seen. I would not be surprised to see a recovery in this market in the next two-to-three months.” Piper Sandler also recommended buying General Electric , CenterPoint Energy , Morgan Stanley , Medtronic , Okta and Netflix . Former commerce secretary on Trump trade policy Carlos Gutierrez, former U.S. Commerce Secretary, weighed in on the President’s latest statement saying he may be more ‘lenient’ on reciprocal tariffs scheduled for April 2. “I think that’s smart, reciprocal may be so dramatic that it’s just not worth it. I would expect these to be negotiations focused on market access for U.S. exports,” Gutierrez said. “The first 60 days the tariff policy was aggressive. … I think he wants to get as much as he can from his tariff policy without doing a lot of damage and then move on to bigger items.” “I believe the back half of the year will be less turbulent than the first half,” he added.
