It’s Not a Bubble, It’s a Wave | WAYT?
Спикеры
Josh Brown
— Генеральный директор, Ritholtz Wealth Management
Josh Brown and Michael Batnick discuss Nvidia's upcoming earnings, arguing the AI capex wave is sustainable due to structural supply constraints, not a bubble. They explore space stocks as speculative plays ahead of a possible SpaceX IPO and highlight the divergence between semiconductors and software. Brown makes a case for IMAX and mentions Michael Burry's contrarian bets on non-AI stocks.
- Nvidia earnings preview with technical analysis favoring long positioning.
- Debate on AI capex: wave vs bubble, structural supply constraints support continued spending.
- Space sector stocks highlighted: Intuitive Machines, AST SpaceMobile, Planet Labs.
- Software underperformance vs semiconductors, potential contrarian opportunity noted.
- Trump's stock trading disclosures discussed, but no investment thesis derived.
- Josh Brown says he is long Nvidia and IMAX.
- Michael Burry's picks include MercadoLibre, Adobe, PayPal, Zoetis, Lululemon.
Идеи
Long Nvidia with stop below 200.
Nvidia (NVDA) is a long into earnings with a technical risk management approach: risk 10% with a stop below 200, and 250 is more likely than 200. The fundamental thesis is strong due to sustained hyperscaler capex, Blackwell demand, inference opportunity, and structural supply constraints. The stock is in an uptrend with rising moving averages and RSI not overbought.
Semis wave, not bubble, long.
Semiconductors (SMH) are not in a bubble but a wave, supported by structural supply constraints on leading-edge wafers and power. This capex cycle is funded by cash flow from profitable giants, not IPO equity, making it more sustainable. The sector should continue to benefit from AI buildout with no imminent demand evaporation.
Watch Intuitive Machines space play.
Intuitive Machines (LUNR) is a speculative watch ahead of a possible SpaceX S-1 filing, which could ignite interest in the space sector. The company is building a 'space prime' contractor model, winning NASA lunar logistics and communications contracts, with revenue up 3x year-over-year.
Watch AST SpaceMobile satellite play.
AST SpaceMobile (ASTS) is a speculative watch. The company provides low-orbit satellite mobile coverage (Bluebirds), has FCC approval for direct-to-cell services using AT&T and Verizon spectrum, and $1.2B in committed contracts. It is seen as an alternative to Starlink.
Watch Planet Labs imaging play.
Planet Labs (PL) is a speculative watch. It provides daily Earth imaging from orbit and is positioned as a data provider for corporations and governments ('Google of the sky'). It runs AI inference on satellites using NVIDIA hardware, and Google is a major stakeholder. The stock has already run but may get another look from SpaceX hype.
Long IMAX on brand and drawdown.
IMAX (IMAX) is a long. The stock is down 23% from highs, but the longer-term uptrend is intact, the brand is premier, and the future is bright. The drawdown presents an opportunity for long-term holders, though near-term catalysts are event-driven (movie grosses).
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This The Compound News video, published May 19, 2026, features Josh Brown discussing NVDA, SMH, LUNR, ASTS, PL, IMAX. 6 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Josh Brown · Tickers: NVDA, SMH, LUNR, ASTS, PL, IMAX