Amazon and Nvidia have struggled to perform in 2026, with both stocks up only about 5% year-to-date, significantly trailing the S&P 500’s 10% gain. Steve Cohen’s Point72 Asset Management sold its positions in these artificial intelligence leaders during the first quarter, trimming Amazon by 6% and Nvidia by 24%. Meanwhile, Cohen increased his stake in Boston Scientific by 50%, despite the company’s stock plummeting over 50% this year.
Boston Scientific reported organic sales growth of 9.4% in Q1, but forecasts for Q2 project a decline to as low as 5%. The company lowered its full-year adjusted earnings guidance from a range of $3.43 to $3.49 per share to $3.34 to $3.41. Despite current challenges, the company’s valuation, with a price-to-sales ratio of 3.2x below its five-year average of 6x, suggests potential as a long-term investment.
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