November 2026 Stock Watch List

As I'm writing this blog post, it's currently Tuesday, October 13th, 2026. The temperature here in Central Wisconsin is set to reach a high of 67 degrees Fahrenheit later today. This is about what you'd expect for this time of year here. That's nice enough to spend some time outside!

With that aside, I'm going to be looking ahead to the stocks on my watch list for November 2026. Without further ado, let's dig into it!

Stock #1: Amazon.com, Inc. (AMZN)

Perhaps not surprisingly, Amazon.com, Inc. returns to my watch list once again after its previous feature in the October 2026 Watch List blog post. AMZN has been on my watch list for four straight months now.

For the sake of brevity, I'll refer interested readers to my August Seeking Alpha article and the following excerpt from my previous blog post on the fundamentals:

The gist of the thesis is that AMZN's Q2 2026 earnings report validated the investment thesis. AWS recorded the strongest quarter of growth since Q4 2021. That was when AWS grew revenue by about 40% to an annual run rate of $71 billion. In Q2 2026, the segment's growth accelerated from 28% in Q1 2026 to 37% in Q2 2026 (concluding the second quarter with a $169 billion annual run rate). That was more than double the 17% growth of AWS in Q2 2025 on a much smaller base. This offers the clearest proof that AMZN's outsized capex in recent years is bearing fruit.

AMZN's AI and chips businesses also each surpassed $25 billion annual run rates in Q2 2026 (with triple digit percentage YOY growth rates). Only NVIVIA and Broadcom have bigger businesses.

Just like I noted in the previous post of this series, North America and International net sales growth were also strong. Each segment's net sales grew at mid-teens percentage rates in Q2 2026. That sets up AMZN's OCF per share growth to easily top 25% annually over the next few years.

The company's AA S&P credit rating with a stable outlook also drives home the point that its financial positioning is impeccable.

GNG Research

At the current $262 share price, AMZN's shares are trading at a forward 12-month P/OCF ratio of 12. This is well below the FAST Graphs 10-year average P/OCF ratio of 23.5 and a 33% discount to my $392 fair value per share estimate (a fair value P/OCF ratio of 18). That also represents a 14% discount to the $305 fair value per share of my friends at GNG Research.

Stock #2: Carlisle Companies Incorporated (CSL)

The next stock on my watch list is Carlisle Companies Incorporated. This makes the list for the first time since May 2026. Interested readers can find my thesis in a September Seeking Alpha article co-produced with Treading Softly.

The crux of the article is that CSL recently entered Dividend King status after extending its dividend growth streak to 50 years with a 13.6% hike in the payout. Driven by stable commercial re-roofing demand and market share gains in energy-efficient building envelopes, CSL delivered strong Q2 2026 record revenue of $1.57 billion and adjusted EPS of $7.03. With long-term re-roofing tailwinds from the early-2000s commercial building boom and a BBB S&P credit rating, it remains well-positioned for double-digit percentage annual adjusted EPS growth.

GNG Research

From the current $324 share price, the stock is priced at a forward 12-month P/E ratio of 13.8. This is well below the FAST Graphs 10-year average P/E ratio of 19.5 and a 23% discount to my $422 fair value per share estimate (a fair value multiple of 18). The more conservative estimate from GNG Research pegs the fair value at $362, which would be a 10% discount from current levels.

Stock #3: NVIDIA Corporation (NVDA)

NVIDIA Corporation is another stock on my watch list. Last on my August 2026 Stock Watch List blog post, this name is also not a stranger to this blog series. Interested readers can find my rationale in the July 2026 Stock Watch List blog post and this September Seeking Alpha article co-produced with Treading Softly.

The biggest takeaway is that demand is broadening for NVDA. AI Clouds, Industrial, and Enterprise revenue soared 138.5% to $40.3 billion in Q2 2027. That outpaced even the 101.2% growth in hyperscale revenue to $48.7 billion in the fiscal second quarter. This is likely to lead to adjusted diluted EPS growth well into the double-digit percentages annually over the next several years. Combined with an AA S&P credit rating and a stable outlook, NVDA is a fundamentally vigorous company.

GNG Research

At the current $225 share price, shares are trading at a forward 12-month P/E ratio of 16.3. That's a fraction of the FAST Graphs 10-year average P/E ratio of 44.3 and the 20-year average P/E ratio of 35.1. From my $415 fair value per share estimate (a fair value multiple of 30), this equates to a 46% discount to fair value. Even with the more conservative GNG Research fair value estimate of $377 a share, that suggests a 40% discount to fair value.

Stocks #4 and 5: Energy Transfer LP (ET) and NextEra Energy, Inc. (NEE)

My more income-oriented stocks on my watch list include Energy Transfer LP and NextEra Energy, Inc. For the sake of time, I will link to my investment thesis for ET here and NEE here.

Concluding Thoughts:

That's it for now. Five excellent businesses that I envision adding to in November 2026. Overall, my allocation should keep my yield in the mid- to high-2% range that I usually target with net new capital.

Discussion:

Are any of AMZN, CSL, ET, NEE, or NVDA on your watch list for November 2026?

If not, what stocks are you watching for next month?

Thanks for reading and please feel free to comment below!