The #1 Gold Play for Q2 🏆

Gold is on a tear this year, but this stock could be the biggest winner to come out of the boom.

Good Morning! 

It's Chris from Elite Trade Club, here to give you this morning's premarket trading news.

Let’s get ready to trade!

Markets 📈

Stocks continued their upward push on Monday with several indexes notching gains of more than 1%. The Nasdaq led, alongside the Russ2K.

  • Dow [+0.4%]

  • S&P 500 [+1.0%]

  • Nasdaq [+1.1%]

  • Russell 2K [+1.2%]

Futures are treading water in early trading. S&P 500 and Dow contracts are currently flat.

What to Watch Today:
Disney’s earnings report is the most notable item on today’s schedule. The media stock’s financial results could provide insights into how economic uncertainty has impacted consumers’ spending habits on the company’s streaming services and movies.

From central banks to even Costco customers, it seems everyone is buying gold these days.

The yellow metal has been on an absolute tear this year, and it just set a new record high and the rally is showing no sign of slowing.

However, one overlooked gold opportunity could give you a much better shot at big returns than buying direct gold holdings.

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Premarket Highlights 🔎

💵 Apple's AI Chips for Data Centers in the Works

Apple is reportedly delving into the development of chips tailored for artificial intelligence (AI) applications in data centers, according to a report by the Wall Street Journal. Project ACDC (Apple Chips in Data Center) has been underway for several years, although specifics regarding its timeline remain undisclosed.

Collaboration 🤝 
Apple has partnered with TSMC for the design and production of these chips. However, the report indicates that the outcome of these efforts is still uncertain. While Apple's server chip is anticipated to prioritize AI inference, it's noteworthy that training AI models may continue to be dominated by industry leader Nvidia.

Focus on AI 🧠 
The emphasis on AI inference aligns with industry trends, as major tech players invest in developing dedicated chips to enhance AI processing capabilities. By focusing on inference, Apple aims to harness the potential of AI technology for various applications.

AI Investment 📈 
CEO Tim Cook reaffirmed Apple's commitment to AI during the company's recent earnings call, highlighting ongoing investments in the transformative technology. Cook's remarks underscore Apple's strategic vision to leverage AI advancements for future innovation and differentiation.

Anticipated Announcement 🚀 
Analysts anticipate that Apple may unveil its AI-related developments at the upcoming Worldwide Developers Conference (WWDC) in June. This announcement could provide insights into Apple's AI strategy and its broader implications for the tech industry.

Strategic Moves 💼 
Despite a decline in iPhone sales, Apple's fiscal second-quarter earnings surpassed expectations. Additionally, the company announced its largest-ever share buyback, signaling confidence in its long-term growth prospects amidst ongoing technological advancements.

Featured Earnings 💰️ 

  • Walt Disney Company [DIS] ... AM

  • Duke Energy [DUK] ... AM

  • Transdigm [TDG] ... AM

  • Dba Sempra [SRE] ... AM

  • Datadog [DDOG] ... AM

  • Kenvue [KVUE] ... AM

  • Arista Networks [ANET] ... PM

  • McKesson [MCK] ... PM

  • Occidental Petroleum [OXY] ... PM

  • Coupang [CPNG] ... PM

Economy 🏗

  • Minneapolis Fed President Kashkari speaks ... 11:30a

  • Consumer credit [Apr] ... 3:00p

Running Hot 🔥

  • Dogness [DOGZ] >> +17.9%

  • Esperion [ESPR] >> +8.0%

  • Faraday Futures [FFIE] >> +13.5%

  • GreenPower Motor [GP] >> (35.7%)

  • AgriFORCE [AGRI] >> (30.9%)

  • Helius Medical [HSDT] >> (14.1%)

Zeta Global [ZETA] - Last Close: $13.00

Zeta Global is rallying after beating the consensus for revenues on its earnings report in Monday’s aftermarket.

The company reported a loss of $(0.23) per diluted share against the consensus of a $(0.25) loss.

Revenues came in at $194.9 million, which beat the $187.2 million analyst estimate, and Zeta hike its full-year sales guidance in response.

ZETA is up 18.3% but volume is thin at less than 100K.

My Take: ZETA’s has been on a tear lately and the market seems to be satisfied with this earnings report, so it could continue to charge along this upward tract for some time.

Clearmind Medicine [CMND] - Last Close: $1.17

Psychedelic therapeutic stock clear mind has acquired exclusive global rights to develop and commercialize novel compounds for PTSD.

The company acquired the rights via a licensing agreement with Yissum Research Development Company of the Hebrew University of Jerusalem

Clearmind is responsible for the ongoing development and potential commercialization in line with regulatory guidelines.

CMND is up 47.8% on over 8 million shares traded.

My Take: I don’t see a lot of substance behind CMND’s rally, so I advise caution here.

reAlpha Tech [AIRE] - Last Close: $0.8565

After yesterday’s close, reAlpha announced the closing of its previously announced acquisition of Naamche Inc. & its related subsidiaries.

The company says the deal will boost its talent pool with 43 new AI engineers, developers, UX designers, and creatives.

AIRE is up 45.9% on more than 6 million shares traded.

My Take: AIRE announced this deal months ago, so the sudden boost seems a bit out of place.

FibroGen [FGEN] - Last Close: $1.16

FibroGen is rallying after reporting stronger-than-expected revenues on its Q1 earnings report in Monday’s aftermarket.

The company missed the EPS estimate of a $(0.31) per share loss with a Q1 loss of $(0.33) per share.

Sales came in at $55.902 million against the consensus of $36.666 million by 52.4%, marking a YoY increase of 54.5%.

FGEN is up 19.8% on 5 million shares traded.

My Take: FGEN looks like it’s in the early phases of a rebound after seemingly bottoming out at $1 per share.

That's it for today! Thanks for reading, and good luck out there!

Best Regards,

— Chris D.
Elite Trade Club

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