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Three Ways Wong Thinks You’ll Win This September

Stan Wong zeroes in on Amazon, Cardinal Health, and DoorDash as his September 2025 plays, blending growth, stability, and sector dominance.

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Three Ways Wong Thinks You’ll Win This September

Equity markets enter September riding the momentum of four consecutive months of gains. The summer rally has been fueled by technology, artificial intelligence, and a powerful rebound in corporate earnings. Yet September’s history of volatility looms large. Investors are watching closely as the Federal Reserve prepares to deliver its first interest rate cut in years, while Canada’s economy grapples with a contraction tied to U.S. tariffs. Stan Wong, Portfolio Manager at Scotia Wealth Management, believes the outlook remains constructive for equities, though selectivity is more important than ever.

The U.S. economy is proving resilient, with second-quarter GDP climbing 3.3 percent annualized after a weak first quarter. Consumer spending, business investment, and easing imports have driven the rebound, while S&P 500 earnings have risen 13 percent year-over-year. With analysts forecasting nearly 12 percent earnings growth in 2026, the case for equity strength holds. In the background, more than a trillion dollars in stock buybacks and over $7 trillion in U.S. money market funds represent a tidal wave of potential liquidity waiting to re-enter equities as rates fall.

Amazon.com Inc. (NASDAQ: AMZN)

Amazon remains the centerpiece of Wong’s strategy. Beyond its e-commerce dominance, Amazon Web Services (AWS) continues to deliver high-margin growth, fueling most of the company’s operating profits. In 2026, revenue is expected to hit nearly $780 billion, thanks to strength in retail, cloud, and advertising. The advertising division, in particular, is becoming one of Amazon’s most profitable growth engines. Investments in robotics, AI, and global data centers reinforce its grip on cloud infrastructure while expanding its reach in artificial intelligence.

Amazon’s latest earnings surpassed expectations, showing improved margins and accelerating advertising revenues. With forward earnings trading at about 33 times and expected earnings growth above 17 percent, the company remains expensive but justified. It is a market leader across three structurally growing industries—e-commerce, cloud, and digital advertising—offering long-term shareholders a compelling case for continued growth.

Cardinal Health Inc. (NYSE: CAH)

Cardinal Health may not command headlines like Amazon, but it quietly operates as one of the most vital players in healthcare. The company distributes pharmaceuticals and medical products across the U.S. and globally, commanding immense scale and benefiting from demographic tailwinds like an aging population. Revenue for 2026 is projected to approach $250 billion, underscoring the resilience of healthcare demand.

Cardinal Health trades at around 16 times forward earnings with expected growth of about 13 percent. In an industry where three companies control 90 percent of U.S. pharmaceutical distribution, Cardinal’s entrenched position creates high barriers to entry and long-term stability. For investors, its low-beta profile provides safety in turbulent markets, while its consistent execution and cost discipline build shareholder value over time.

DoorDash Inc. (NASDAQ: DASH)

DoorDash may be a younger company, but it has cemented its place as the leader in U.S. food delivery with about 65 percent market share. Its platform has evolved beyond restaurants into groceries, convenience, and retail, positioning it as a broad-based last-mile logistics provider. DoorDash projects nearly $16 billion in revenue for 2026, fueled by rising order volumes, expanding merchant relationships, and growing high-margin services like advertising and DashPass subscriptions.

Consumer adoption of delivery apps continues to grow, and DoorDash is capitalizing by building recurring revenue streams while driving efficiency gains. With expected earnings growth of 25 percent, DoorDash represents the future of digital convenience. Its investments in new verticals and international expansion strengthen its moat and create powerful tailwinds for long-term profitability.

Conclusion

Stan Wong’s September 2025 top picks—Amazon (AMZN), Cardinal Health (CAH), and DoorDash (DASH)—highlight a blend of technology, healthcare, and consumer logistics. Together, they reflect the strength of large-cap companies that dominate their sectors and offer both growth and stability. Wong’s market outlook is cautiously optimistic, balancing U.S. resilience against Canadian challenges and global uncertainties. By focusing on quality and diversification, his picks provide a roadmap for navigating September’s potential volatility while positioning investors for long-term success.

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