BeInCrypto • October 6th 2026, 3:43 AM
Jeff Kilburg Backs 2 Tech Picks Even When They Trade Above Analyst Targets
Key Summary
CNBC contributor Jeff Kilburg is buying Fortinet and Cloudflare for the fourth quarter, despite trading above analyst targets, citing AI spending and profit growth as key drivers. He also holds CrowdStrike and Palo Alto Networks, adding diversification to his portfolio.
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Key Takeaways
- Kilburg is buying Fortinet and Cloudflare for the fourth quarter, despite trading above analyst targets.
- He cites AI spending and profit growth as key drivers for his picks.
- Fortinet and Cloudflare are held by Kilburg, who also owns CrowdStrike and Palo Alto Networks.
Market & Token Impact
- Fortinet's stock is up 130% this year, trading at 53 times projected earnings.
- Cloudflare's forward P/E ratio is near 300, trading above a $350 target.
- Kilburg believes hyperscalers will not skimp on networking, driving demand for data center networking gear.
Broader Context & What's Next
- The 10-year yield has hit its highest level since 2002, and matches iCapital's raised yield forecast of 5.3%.
- Third-quarter reports may show whether profit growth can keep carrying premium multiples.
- Schwab's Kevin Gordon has warned that one mega-cap capital spending miss could disrupt the AI-driven market.
- Kilburg's offset is profit growth, citing a 29% earnings growth projection for the third quarter.
- The 8% average over the past decade provides a benchmark for comparison.
- Kilburg's picks are part of a broader strategy to play AI spending without owning hyperscalers, the cloud giants buying the chips.