We are watching chip stocks, pharma stocks and Constellation Energy. Brooke DiPalma is with me here and let's start with these chip stocks because we have seen a crazy run for memory chip makers, but then we've had some other standouts also. So looking at Intel, Qualcomm, Micron, just as three examples, they all opened at records today.

Yeah, the momentum has been there. Yeah. The momentum's certainly been there. When you take a look at these stocks, what we've seen over the past month, for example, take a look at Micron. Six months ago that stock was sitting around $240 and now it's running high at $783, absolutely skyrocketing. Their forward PE ratio, I was taking a look at that. It's significantly low, $7.60. So keep an eye on that. But just based upon this need, this uh demand for memory and storage, the street is certainly gravitating towards that. And we even saw a note out from uh JP Morgan out this morning saying that during the week of May 7th for single names, retail buying in tech reached a one-year high driven by hardware, which posted its second largest weekly inflow on record. And so the the the pre-war trade seems like it's obviously back on right now.

Mhm. I mean, it I was I'm just looking at Jordan Jordan Klein's note from this morning. He's over at Mizuho. He's a desk analyst there and he basically says, I've been following memory stocks since 2004 and can't recall when MU and peers have experienced a four to five a run this strong, but he also says memory stocks always get oversold and overbought, very momentum driven sector, when it shifts in the up or down direction, you learn to ride the directional move as it overreacts in either direction. Now, that said, like the cycle here feels different for I mean these stocks were like that because there were also there were very violent memory chip cycles.

Right. And we've been discussing the question of whether like those cycles still exist in the same way or they just much longer than they were before.

Yeah. Will this be a one off or will this continue on? Will the momentum keep going? And I think also too, based on all these headlines that we're hearing around these companies, you have Qualcomm executives going with President Trump to meet in that meeting uh with Xi Jong Ping at that summit. You also on top of that have Intel partnering with Apple. All these headlines coming together in these early innings of May that are driving investor optimism about what this could mean. I mean Qualcomm just today alone, jumping around 9%, but the last month, it's up 86%. And on top of that too, it's not just Qualcomm executives going to meet that's driving optimism on what this could mean for the sector. You also have Apple and Nvidia executives also heading over there as well.

Yes. It doesn't mean that like there's not any, um, it doesn't mean it's all fundamentally driven to be clear. Like there's definitely some sentiment and enthusiasm in here. Um, but we'll see how far that. And Qualcomm had been lagging. It's now sort of catching up and then some um, versus some of the rest of the chip space. Um let's talk about pharma companies also because we are watching Moderna, Novavax, Inovio pharmaceuticals. We've got this hantavirus outbreak that ha- has been happening on this cruise ship. Um the Americans who were on the ship have landed in Nebraska. They're at a quarantine facility, at least those that were seen as being in close contact with the affected um individuals. And now there's some speculation that, and I guess, um, Moderna has said that it's trying to work on some sort of, um, treatment.

Right. But it's still in the early innings and yet today, we're hearing this strong reaction from the street about what this could mean and could this mean that there could be a cure soon? And will this ultimately prevent another say coronavirus? And that's what really investors are weighing in. And as for reporting it on our site this morning and she said that right now, this is still in the early innings. She said the biotech is researching vaccines to protect against hantaviruses, a group of viruses that that uh to to keep you in the know here, they're spread through rodents, which is quite unusual. And so they're in the early innings though of these tests and it remains to be seen. Prior to this outbreak, they were working on an early stage research in conjunction with the vaccine Innovation Center at Korea University of College of Medicine. But uh they announced that they're now in a positive phase three study results. And so I mean, is this actually going to happen? It seems like we're still in the early innings.

But regardless, even if it does happen, hantavirus is exceedingly rare. Most of the cases happen outside of the US. They happen in Asia and Europe. Um the type of hantavirus that was spread on this boat is even more rare than that in that it spread human to human, not just from rodent to human. And so as Evercore ISI pointed out in a note that uh CNBC reported on, the revenue potential here, even if Moderna came up with this thing, would be relatively small because it's just not, at least knock on wood, not that big a risk. Not that many people have this thing.

Right. And within that note as well from Evercore ISI, they said we view any potential outsized move as sentiment driven and not fundamental.

Right. So I mean, welcome to this market. And finally, let's talk about Constellation Energy, which is one that I am tend to pay a lot of attention to. This is a power provider. Um it uh closed on its acquisition of Calpine earlier this year, which is a big natural gas uh producer and came out with its numbers. But it seems like um the full the full year forecast maybe was a little bit disappointing.

Right. I I was reading to um another note from Evercore ISI and they were largely saying that while they delivered the strong print here that outlook for your guidance on EPS growth of 20% from 2026 to 2029, it points to continuing earnings visibility, but investors not too pleased, obviously wanting more. You have that acquisition which I believe was a price tag of about $16 billion uh of that uh specifically named um make sure I get the name right here, of that company. Yes, exactly Calpine. And so uh when you think about that price tag, obviously lots of momentum behind there, but I think waiting to see exactly how this all sort of plays out here. Also, too, the way that they're positioning themselves in the data center build out, that certainly has the street intrigued as well.

Yes, the stock has, you know, the stock had ripped along with a lot of the other power um and uh utility names, but it is down about 14% year to date um and it is uh only up about 6% over the past 12 months. So we've seen some momentum kind of fade with some of those those power players.

Right. A- and I think also too, uh this Evercore ISI, this this analyst does have a outperform rating on the stock. So keep that in mind. But they said that they're largely bullish about operational execution. They said that it remains strong despite these factors and the company continues to once again put itself in a position to really win in this AI arms race. But I think that there are many companies right now who are competing for that same market share and so so uh we'll see how this one sort of plays out.

Yeah, we will. Thanks, Brooke. Appreciate it.