Stocks began to rebound today after the S&P 500 joined the NASDAQ Composite in textbook “bear market territory.” joining the NASDAQ Composite. The Dow is looking to snap its longest losing streak since 1929. Marquee cryptocurrencies like Bitcoin and Ether, are trying for a bullish run above $30,000 and $2,000, respectively.
But of course, we’ve been through tough markets before – and we’ve got a plan. Here’s what Michael recommends doing with your capital right now…
Earnings to Watch
One of Michael’s favorite business software companies, Intuit Inc. (INTU), is announcing earnings on May 24. “Fabless” chip designer NVIDIA Corp (NVDA) shares earnings on May 25 and “Chines Amazon” Alibaba Group Holding (BABA) will report on May 26. Another pick highlighted earlier this year, Autodesk Inc. (ADSK), announces earnings on May 26. Look for any opportunity to buy on the dip.
Strategic Tech Updates
The Green-Tech Economy Is Growing
Combating climate change and mitigating its worst effects are going to be a huge economic driver as the 21st century goes on. “Net-zero” carbon efforts are going to be central to this. Michael found an old-school aluminum refiner that uses an entirely new technology that eliminates greenhouse gas from the refining process – and emits oxygen as a by-product. Like a lot of other great stocks right now, it’s on sale.
President Tours South Korea for Ideas to Alleviate Chip Shortage
With the microchip shortage expected to continue through this year and possibly into 2023, President Biden flew to South Korea to get talk ideas with Korean tech giant Samsung. The company is expected to build a $17 billion factory in Texas, boosting the economy and alleviating the chip shortage. We are still very bullish on this sector and this play here.
Cheers and good investing,
The Strategic Technology Investor Team