Just like in the spring of 2000, not all tech stocks and hopium miners will survive this rate hiking environment and recession. So if I "knew" it was the bottom, I'd buy profitable growth companies operating at scale, like:
CRM
MSFT
Alphabet
AAPL
NVO or LLY (can't decide, both have new weight loss drugs that are going to be blockbusters)
No AMZN? I don't feel the need to own AMZN by virtue of how much I already have in my indexes, but if I was going to buy a FAANG AMZN would be it if only because I know how much my boss pays to AWS every month.
AMZN has a worse return on assets, a higher PEG ratio, and a lower quarterly growth rate than FedEx, all while trying to prop up a PE ratio 5x higher. Granted, not all my other picks excel on those metrics or others, so sure, swap it out for Apple if you want. Apple is just an appliance manufacturer anyway, and it is doubtful they could do well in the event of disruption in China, so I'm indifferent to the trade.
I am 100% certain the working from home trend is here to stay for knowledge workers, so I like CRM, MSFT, and GOOG. The end of meetings, cubicle discussions, and water cooler chit chat has left an information gap that these providers are filling brilliantly. I'm interested in these names because I know how much my boss pays to keep an empty office building downtown, while simultaneously paying MSFT, CRM, and GOOG increasing sums for the way we actually work now. We're remotely managing just-above-entry-level call center workers who are WFH. Many people still think that can't be done.
The productivity gains and cost savings for WFH are bigger and are coming faster than the transition from fully paper-based offices to partially-digital offices in the 1990s.