Dear Reader,

I don't say this lightly:

June 1 could be the most important date in this entire SpaceX story.

By now, most investors know Elon Musk's private empire has created extraordinary wealth for early insiders.

But what most people still don't understand is this:

The biggest money in a major IPO wave is often made before the crowd fully connects the dots.

That's why I want you to pay very close attention over the next few days.

Because after June 1, I believe a key window could begin closing on what may be one of the best "backdoor" opportunities tied to the SpaceX IPO.

And once Wall Street fully catches on, the easy money is usually gone.

I've spent my career studying major macroeconomic shifts, market cycles, and the way capital floods into the next big theme.

This setup has several of the same ingredients I've seen before:

• a powerful public narrative
• a narrow timing window
• lesser-known stocks positioned to benefit before the masses move in

If you wait until the financial media is pounding the table on this, you may already be too late.

That's why I strongly urge you to review my full presentation before June 1.

Go here now to learn more about the opportunity while the early window is still open <<<

Yours for peace, prosperity, and liberty, AEIOU,

Dr. Mark Skousen
Macroeconomic Strategist, The Oxford Club

5 Mega-Cap Stocks That Beat Q1 2026 Earnings and Are Still Climbing

Written by Ryan Hasson. Published: 5/4/2026.

This earnings season has delivered a clear message: the companies leading this market are not just holding up in a challenging macroeconomic and geopolitical environment, they are accelerating and growing at an impressive pace.

Five of the most closely watched names in the market reported Q1 2026 results this past week, and all five delivered beats that went well beyond the headline numbers. Alphabet (NASDAQ: GOOGL), Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), Qualcomm (NASDAQ: QCOM), and Caterpillar (NYSE: CAT) each told a different story, but together they paint a picture of a market where the strongest businesses are widening the gap. For investors looking ahead, the case for continued outperformance across all five remains fairly compelling.

Alphabet: The AI Platform That Keeps Pulling Away

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Alphabet delivered what may have been the defining earnings report of the season. Q1 revenue of $109.9 billion grew 22% year over year, the fastest growth rate since 2022. That figure comfortably topped the $107.1 billion consensus. The company’s EPS of $5.11 grew a staggering 82% year over year, crushing the consensus estimate.

But the headline that mattered most was Google Cloud, which posted $20.03 billion in revenue, up 63% year over year and well above the $18.4 billion estimate. That wasn’t just a beat; it was a clear statement from the company. It builds on the impressive acceleration from 48% growth in Q4 2025, and it marked the first time Google Cloud has crossed the $20 billion quarterly threshold.

The cloud backlog nearly doubled quarter over quarter to more than $460 billion, suggesting the growth runway extends well beyond anything current models reflect.

Management raised its full-year CapEx guidance to $180 billion to $190 billion, signaling that AI infrastructure demand is accelerating, not plateauing.

From a technical perspective, although the mega-cap stock is up almost 140% over the prior 12 months, it is still holding up convincingly and has yet to extend materially from key moving averages. Now, fresh from a breakout above prior resistance post-earnings, if the stock can consolidate above $360, it could present a new round of potential long-term entry points.

Amazon: AWS Hits Its Fastest Growth in 4 Years

Amazon delivered arguably its strongest all-around quarter in years. Total revenue of $181.5 billion grew 17% year over year and topped the $177.2 billion consensus. Its EPS of $2.78 nearly doubled the $1.64 analyst estimate.

Similar to GOOGL, the headline for Amazon was AWS, which grew 28% year over year to $37.6 billion, its fastest growth rate in 15 quarters and ahead of the 26% consensus. Operating income hit $23.9 billion, producing a 13.1% margin that CEO Andy Jassy described as the highest in Amazon's history.

The chips business, comprising Trainium, Graviton, and Nitro, crossed a $20 billion annualized revenue run rate, growing at triple-digit percentages year over year. More tokens were processed through Bedrock in Q1 2026 than in all prior years combined.

Q2 guidance of $194 billion to $199 billion points to continued momentum for the retail and tech giant.

The stock is trading above prior resistance at $260, and similar to GOOGL, if it can consolidate and build a fresh base above that level, with resistance turning into support, bulls may look for new entry points and further upside.

Apple: A Record March Quarter Across Nearly Every Metric

Apple delivered its best March quarter in company history, and the numbers showed it across almost every line of the report. Revenue of $111.2 billion grew 17% year over year, beating the $109.66 billion consensus. EPS of $2.01 grew 22% year over year, setting a new March quarter record. Services revenue hit an all-time high of $30.98 billion, up 16%. iPhone revenue of $56.99 billion grew 22%, another March quarter record, with CEO Tim Cook describing the iPhone 17 lineup as the most popular in the company's history, despite supply constraints throughout the quarter. Gross margin of 49.3% came in above both guidance and the 48.4% consensus estimate.

The board authorized a fresh $100 billion share buyback and raised the quarterly dividend 4% to 27 cents per share, marking 14 consecutive years of dividend growth. Q3 guidance for 14% to 17% revenue growth crushed the 9.5% analyst estimate by a wide margin.

From a technical point of view, the setup is bullish and constructive. Prior to earnings, the stock had spent almost five months consolidating near its 52-week high in a bullish formation.

Post-earnings, the stock retested its 52-week high and failed to clear it, but it still closed the session strong.

If AAPL can consolidate near this breakout point in the days and weeks ahead, it could be the beginning of a broader, higher-timeframe breakout.

Qualcomm: 2 Catalysts in 1 Week, and a Bigger Story Developing

Qualcomm's week deserves some context. Before the earnings report even arrived, the stock had already surged on a report that the company is partnering with OpenAI and MediaTek to develop next-generation smartphone processors, a potential design win that would represent a significant new revenue stream. The earnings report then added a second catalyst.

Revenue of $10.6 billion and non-GAAP EPS of $2.65 both came in above expectations. The segment worth focusing on was Automotive. QCT Automotive revenue of $1.3 billion grew 38% year over year, crossing a $5 billion annualized run rate for the first time in company history, with management guiding that figure to exceed $6 billion annualized by fiscal year-end. Q3 automotive growth is expected to further accelerate to approximately 50% year over year.

The handset segment faced a cyclical headwind from Chinese OEMs drawing down inventory in response to memory supply pressures, but management was direct: Q3 is the bottom, and sequential growth resumes in Q4. And then there was the disclosure that many on the Street missed. Qualcomm confirmed it expects to ship initial custom silicon to a leading hyperscaler in December, its first concrete data center revenue milestone.

For a company that has long been viewed through a handset lens, the automotive trajectory and the emerging data center opportunity together represent a meaningfully different business than the one many investors have been pricing.

Caterpillar: The Industrial AI Play Nobody Saw Coming

Caterpillar might have been the most unexpected earnings story of the week. Q1 revenue of $17.4 billion grew 22% year over year, well ahead of the $16.5 billion consensus. Adjusted EPS of $5.54 beat the $4.62 estimate by nearly a full dollar, the largest earnings beat in five quarters for the company. But neither of those numbers was the one that stopped analysts in their tracks. That was the backlog: $63 billion, up 79% year over year, with all three major business segments contributing.

Power Generation revenue surged 41%, driven almost entirely by demand for Caterpillar's large reciprocating engines and turbines from hyperscale data center operators building out AI infrastructure. Construction Industries jumped 38%. Tariff costs of approximately $600 million came in well below the $800 million estimate, protecting margins more than the market had modeled.

The analyst reaction was swift. Morgan Stanley doubled its price target to $915 and upgraded the stock. JPMorgan raised its target to $1,125, calling the print a resounding beat. Management raised its long-term revenue growth target to a 6% to 9% compound annual rate through 2030 and increased its power generation sales target to more than 3x the 2024 baseline by 2030. For investors who had filed Caterpillar away as a cyclical industrial play with limited upside, this quarter likely demanded a rethink. It is quietly becoming one of the most direct and underappreciated beneficiaries of AI infrastructure spending in the entire market.

3 Reasons Analysts Love DexCom

Written by Nathan Reiff. Published: 5/5/2026.

While GLP-1 agonists have grabbed investor attention for their potential as weight-loss aids, these medicines also remain an important part of the broader toolkit for treating type 2 diabetes. With about 40 million people in the United States suffering from diabetes and cases of type 2 diabetes rising across multiple demographics, this core use for the class is just as relevant as it was when these drugs first came to market.

This is where medical device firms like DexCom Inc. (NASDAQ: DXCM) come in. DexCom is not directly involved in the GLP-1 agonist space. Instead, it is known as a leader in continuous glucose monitoring (CGM) products, which are essential tools for diabetic patients to monitor their health.

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Even as makers of GLP-1 drugs have captured plenty of attention on Wall Street, DexCom is quietly building analyst support. DXCM shares currently enjoy 20 Buy ratings compared to four total Sell or Hold ratings, along with about 40% upside.

Analyst enthusiasm may stem from three key developments: strong financial performance, a recent product launch featuring a wearable sensor, and an expansion of manufacturing capacity.

DexCom Starts 2026 With Excellent Fundamental Momentum

First, consider DexCom's financials from its latest earnings report for Q1 2026. The company beat analyst expectations for both earnings per share (EPS) and revenue. Quarterly sales came in at $1.2 billion, up 15% year over year (YOY), and EPS beat estimates by 9 cents. Along with those results, both gross margin and cash generation improved. Specifically, the company boosted free cash flow and ended the quarter with about $2.4 billion in cash.

Management also reaffirmed full-year revenue guidance while increasing its guidance for operating profit and EBITDA margin. A key factor behind many of these results is the recent update involving pharmacy benefit manager Prime Therapeutics, which will cover DexCom's CGM products for many new patients starting in summer 2026.

Success of G7 Sensor Line

Just months ago, DexCom launched its latest CGM line, G7, improving functionality, accessibility, and wear time relative to its prior offerings. The G7 15-Day CGM system is smaller and more user-friendly than DexCom's earlier products, and it features a wearable sensor that provides continuous monitoring for up to 15 days.

Launched in the final weeks of 2025, the G7 15-Day CGM has seen a strong rollout. The company expects that about 50% of its customer base will convert to the latest version by the end of 2026. With longer wear times and an improved algorithm already built into the product, DexCom is also working to strengthen the G7 CGM further through software updates and additional enhancements.

What's more, DexCom's Stelo line of CGMs is designed for diabetic and pre-diabetic patients who do not use insulin. With added features such as meal logging and other health tracking tools, it could help broaden the company's addressable market beyond diabetes patients and position the firm as an expanded consumer health platform, not just a wearable medical device name.

Manufacturing Expansion Boosts Margins

DexCom's rising margins are due in large part to manufacturing improvements, as the company has recently invested in capacity expansion. The substantial cash reserves DexCom has accumulated have been essential to this effort, allowing the firm to meet growing demand around the world and expand its international operations.

Specifically, DexCom has highlighted improved throughput and inventory management as two of the main factors behind margin expansion last quarter. A new patch adhesive is also helping to increase sensor survivability.

DexCom shares are down about 10% year to date, and risks still remain for investors, including competition from other major players like Medtronic PLC (NYSE: MDT) and pricing pressure as the market continues to expand. As a medical device company, DexCom is also subject to volatility tied to insurance dynamics, reimbursements, changing regulatory guidelines, and more.

Nonetheless, DexCom's strong financial growth, improving margins, latest product line, and impressive cash position, which support aggressive expansion efforts, all point to the firm continuing to cement its position as a go-to provider of diabetes management tools. Expanding its efforts to non-insulin users also helps DexCom position itself as a broader wearable health tech company.