Amazon, McDonald Surge Into Jefferies Top Picks Broadcom as Gets Cut

Jefferies refreshed its Franchise Picks list, adding Amazon AMZN, AppLovin (APP), Credo Technology CRDO, McDonald’s MCD, RadNet RDNT, and Thermo Fisher Scientific (TMO).

Jefferies also recently added American Healthcare REIT (AHR) and Ovintiv (OVV) to the list. At the same time, it removed AIG (AIG), Broadcom AVGO, Capital One COF, Nike NKE and Snowflake SNOW.

The Jefferies team said the new names tilt toward AI infrastructure, digital advertising, healthcare demand and consumer value. Jefferies said Amazon’s AWS unit may be entering an early reacceleration phase as capacity comes online and AI deals improve longer-term visibility, while AppLovin could benefit from mobile gaming ads and e-commerce growth.

Jefferies also cited Credo’s early-stage cable adoption, McDonald’s McValue platform, RadNet’s outpatient imaging demand and Thermo Fisher’s potential earnings inflection later in 2026. UL Solutions was added for pricing power, resilience and possible AI-related testing demand, with…