Editor's Note: Former tech executive and angel investor Jeff Brown - picked Bitcoin before it jumped as high as 52,400%, Tesla before it jumped as high as 2,150%, and Nvidia before it jumped as high as 32,000%. Today, he'll show you how to claim a stake in Elon Musk's upcoming IPO - BEFORE the company goes public. Click here to see the details or read more below.
Dear Reader,
Over the past few weeks, I've been urging my readers to claim their stake in what I believe to be the biggest IPO of the decade.
And I'm glad I did.
Because over the last 21 days, three critical events happened in rapid succession:
✓ March 17th: SpaceX crossed 10,000 active satellites in orbit.
The estimated threshold for offering full service to most of the globe.
Two-thirds of every satellite circling Earth now belongs to ONE company.
✓ April 1st: Elon filed the confidential IPO paperwork with the SEC.
The public filing could drop any day now. And when it does, the stampede begins.
✓ April 6th: Another rocket launched carrying 25 more satellites.
Proving SpaceX isn't slowing down.
They're accelerating. Building the network that will become the world's first global internet carrier.
SpaceX just hit every technical milestone it needed to justify going public.
Everything I predicted is happening... right on schedule.
And there's still a small window to get in BEFORE the public can buy shares.
But that window is closing fast.
The moment the public filing drops, millions of investors will learn about this opportunity for the first time.
You won't be early anymore.
You'll be competing with the crowd.
And your shot at early gains will be gone forever.
We have so much to look forward to,
Jeff Brown
Founder & CEO, Brownstone Research
FEATURED READ
Why the Chip Cycle Is the Macro Trade Right Now
The Philadelphia Semiconductor Index (SOX) is trading near 4,780 as of April 25, 2026 – roughly 14.2% below its January 2026 all-time high of approximately 5,573, but up a significant 22.6% from its early April 2026 correction low near 3,900. That recovery is not noise. It reflects a fundamental re-pricing of AI infrastructure demand that institutional desks are now treating as a multi-year capital cycle, not a speculative episode.
☰
The catalyst that re-ignited institutional confidence was TSMC's Q1 2026 earnings report, which delivered revenue of approximately NT$839.3 billion (roughly $26 billion USD) – a 41.6% year-over-year increase – driven entirely by advanced node demand from AI accelerator customers. TSMC's gross margin expanded to 58.8%, and management guided Q2 2026 revenue between $28.4 billion and $29.2 billion, implying the AI chip ramp is not decelerating. That guidance alone validated the bull case for the entire semiconductor supply chain.
☰
NVDA: The Linchpin of the AI Infrastructure Trade
☰
Nvidia (NVDA) remains the dominant force in AI accelerators with its H100 and next-generation Blackwell B200 architecture commanding gross margins estimated above 73% for its data center segment. NVDA's fiscal Q4 2026 (reported February 2026) posted data center revenue of approximately $35.6 billion, up 93% year-over-year. The stock trades near $118 per share at roughly 28x forward earnings – a significant compression from the 40x+ multiples seen in mid-2024, creating what many institutional analysts now characterize as a more defensible valuation entry zone.
☰
Key technical levels for NVDA: $112 to $115 represents near-term VWAP support from the April recovery rally. Resistance clusters near $124 to $126. A sustained close above $126 on volume exceeding 300 million shares would technically confirm a breakout toward the $138 to $142 range. The 200-day moving average sits near $127, making that zone the decisive battleground.
☰
AMD and AVGO: The Secondary Plays Gaining Institutional Flow
☰
Advanced Micro Devices (AMD) has emerged as a credible second-source AI accelerator supplier with its MI300X GPU generating data center revenue that reached approximately $3.7 billion in Q4 2025. AMD trades near $108 at approximately 22x forward earnings – a 37% discount to NVDA's multiple – which has attracted notable institutional rotation as portfolio managers seek AI exposure with lower multiple risk. Analyst consensus targets for AMD sit near $145 to $165, implying 34% to 53% upside from current levels.
☰
Broadcom (AVGO) represents the custom silicon angle of the AI trade, with its XPU (custom AI accelerator) business now generating an estimated $12 billion annualized revenue run rate from hyperscaler customers including Google and Meta. AVGO trades near $198 at approximately 24x forward earnings with a 1.6% dividend yield – a combination of growth and income that is drawing significant pension and endowment capital.
☰
Scenario Framework for the SOX Index
☰
Bull Case: SOX reclaims 5,000 by mid-May as NVDA Blackwell ramp data confirms in upcoming earnings. Sector-wide re-rating lifts NVDA toward $135, AMD toward $125.
Base Case: SOX consolidates between 4,600 and 4,900 through May as traders await Q2 guidance clarity. Stocks grind higher with measured volatility.
Bear Case: Macro deterioration or hyperscaler capex guidance cuts (watch MSFT and GOOGL commentary) trigger SOX retest of 4,200 to 4,400 support zone.
☰
The semiconductor sector is offering traders a rare combination of confirmed fundamental demand, improving valuation structure, and technically defined risk levels. Position sizing discipline and defined stop levels near key moving averages remain essential as implied volatility in NVDA options prices in moves exceeding 8% on earnings days.
For informational and educational purposes only. Not investment advice. Trading involves risk, including loss of principal.