Dear reader,
Foreign central banks have dumped $82 billion since the conflict in Iran began.
At the same time…
They’re accumulating gold. For the first time in 30 years…
Central banks now hold more gold than U.S. Treasuries.
That’s not a small shift.
It’s a monetary regime change.
My name is Garrett Goggin. I’m one of fewer than 200,000 CFAs in the world.
When you study how central banks behave during monetary transitions like I have…
You learn one thing:
They move early.
Central banks are the best-informed entities on earth when it comes to gold. That makes sense. After all, they have the deepest knowledge and insider analysis.
Central banks don’t trade for short-term gains.
They’re positioning for long-term stability.
What they’re telling you right now is straightforward:
They trust gold more than US paper.
Go here now to check out the four top gold miners for what comes next
Now connect central bank policy to what’s happening globally:
- Oil is settling in Chinese yuan thanks to the Iranian toll booth in Hormuz…
- The petrodollar deal was under extreme pressure – even before the war…
- US Treasury demand weakening…
It isn’t one event.
It’s a system-wide transition underway – and transitions like this don’t reverse on a dime.
They accelerate.
That’s why you’re seeing stress in bond markets… higher yields… and the Fed being forced into a decision that will impact every American’s wealth.
Because when on the dollar pressure gets bad enough…
The Fed’s response is 100% predictable:
They will print as much money as they need to “save the system.”
Which means gold is nowhere finished repricing.
But I do not recommend buying physical gold at today’s prices…
The real opportunity is in the miners still trading at deep discounts to their actual cash flow.
Go here to learn about the four top miners positioned to benefit most
To your wealth,
Garrett Goggin, CFA, CMT
Chief Analyst and Founder, Golden Portfolio
P.S. Central banks are dumping Treasuries and accumulating gold — that’s your signal. The next move is a repricing. Go here for details on my top four miners
Qualcomm Drops 25%, But Investor Day Could Reverse the Slide
Submitted by Sam Quirke. First Published: 6/15/2026.
Key Points
- Qualcomm shares fell more than 25% from their all-time highs in mid-June, caught up in the broader risk-off wave sweeping through semiconductor and AI stocks.
- JPMorgan has flagged the company's investor day on June 24 as a major upcoming catalyst and raised its price target by more than 60% ahead of it.
- With expectations building around Qualcomm's data center ambitions and diversification story, a serious buying opportunity could be emerging.
- Special Report: Everyone wanted SpaceX. Smart money wants this.
Shares of Qualcomm Inc (NASDAQ: QCOM) are doing what they, unfortunately, do best: selling off hard. At one point last week, the semiconductor giant traded around $190, after being above $250 just a week earlier. That’s a drop of more than 25%, giving back a sizable chunk of the 100%+ rally it enjoyed from April into May. For a stock that had just hit fresh all-time highs and looked to have finally rounded a corner, it's a painful reversal.
Much of this isn't Qualcomm-specific. Chip and AI-related stocks have been falling alongside the broader market downturn triggered by the May labor report and growing uncertainty over tensions in the Middle East.
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The Wall Street Journal is already raising the alarm about a potential market crash, and Weiss Ratings research points to the first half of 2026 as a particularly rough stretch for certain holdings.
Some of America's most popular stocks could take serious damage as a radical market shift plays out. Analysts at Weiss Ratings have identified five names you may want to remove from your portfolio before this unfolds.
If any of these are in your portfolio, now is the time to review your positions.
See the 5 stocks to avoidBut there's a Qualcomm-specific element to the selling, too, with concerns circulating that the stock's valuation had become overextended relative to its fundamentals after such an aggressive run.
That's exactly why the company's upcoming Investor Day, set for June 24, is suddenly so important. JPMorgan flagged it as a catalyst to watch closely because, if management gets it right, it could remove much of the weight that's been dragging the stock down. For those of us watching from the sidelines, that sets up an interesting couple of weeks.
What's Behind the Sudden Selloff
The speed of Qualcomm's reversal says more about market positioning than it does about the company itself. A stock that doubles in less than two months attracts a lot of fast money, and when the broader mood turns risk-off, that money tends to leave even faster than it arrived. With sentiment toward semis and AI names cooling markedly over the past fortnight, Qualcomm was always going to be one of the more exposed names.
The valuation concern is the part worth taking seriously. As the 100% rally was peaking last month, Qualcomm’s price-to-earnings ratio was also peaking at its highest level in more than a decade. In other words, investors were being asked to pay up for a growth story that, while compelling in the broader context of the AI revolution, hadn't yet been formally laid out by Qualcomm’s management.
That gap is precisely what created the air pocket the stock has fallen into. It's also what the Investor Day can fix.
Why June 24 Could Change Everything
JPMorgan analyst Samik Chatterjee added a positive catalyst watch on the stock this week ahead of the event. The expectation is that Qualcomm will use the day to formally outline its data center strategy, built across three pillars spanning custom silicon, merchant CPUs, and AI accelerators.
More importantly, Chatterjee expects management to set hard revenue targets against those ambitions, stretching from the next fiscal year through the early 2030s. Alongside continued robust growth in automotive and an inflection in its Internet of Things (IoT) business, projections are expected to show that non-handset markets will contribute the vast majority of revenue by the end of the decade, with data centers alone becoming a major pillar.
That's the diversification story investors have been waiting for Qualcomm to tell convincingly for years. The company has long been viewed and valued as a smartphone chip supplier that's basically held hostage to handset cycles. A credible, numbers-backed roadmap showing it transforming into a diversified data center and AI player would change the entire conversation about how much the stock deserves to be multiplied.
The JPMorgan Update Worth Reading Twice
Here's where it gets really interesting. Alongside the catalyst watch, Chatterjee raised his price target on Qualcomm from $160 to $265, an increase of more than 60% in one move, while keeping a Neutral rating, suggesting lingering caution. Despite the rating, a price target jump of that magnitude is rare, especially given that it would push the stock even higher than the record levels it briefly touched last month.
To be specific, from recent prices around $212, the $265 target implies about 25% upside. When an analyst who isn't even officially bullish on a stock sees that much room above the current price, it suggests the recent selling may have gone too far.
Weighing Up the Opportunity
Still, none of this eliminates the risk that the Investor Day will disappoint. Qualcomm needs to deliver targets ambitious enough to justify the AI-era rerating the bulls want, while remaining credible enough for the market to believe them. Any miss on either side of that balance, and a stock this volatile could easily take another leg lower, particularly if the broader semi selloff continues in the background.
However, for investors who believe in the emerging diversification story, the setup is hard to ignore. The stock is much cheaper than it was a week ago, the fundamentals haven't changed, and a major catalyst is now less than two weeks away. While the recent price action is telling investors to stay away, the calendar is saying this might actually be the time to start paying attention.
AST SpaceMobile Just Nailed a Major Launch—So Why Is the Stock Crashing?
Submitted by Jessica Mitacek. First Published: 6/26/2026.
Key Points
- AST SpaceMobile's stock has fallen around 45% from its all-time high despite the successful deployment of BlueBird satellites 8, 9, and 10.
- Insider selling exceeding $451 million, a $1 billion convertible note offering, and five consecutive earnings misses have weighed heavily on investor sentiment.
- The company reported massive year-over-year revenue growth in Q1 and has partnerships with nearly 60 global mobile network operators covering more than 3 billion subscribers.
- Special Report: Everyone wanted SpaceX. Smart money wants this.
The massive rotation out of semiconductor stocks this week has reverberated throughout the tech sector. The selloff has weighed on everything from the Magnificent Seven to hardware stocks—and space stocks have been no exception.
However, while Elon Musk’s SpaceX (NASDAQ: SPCX) has grabbed headlines by falling nearly 16% from its post-IPO high, losses for space-based direct-to-device (D2D) cellular broadband competitor AST SpaceMobile (NASDAQ: ASTS) have made holding SPCX look like a walk in the park.
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The Wall Street Journal is already raising the alarm about a potential market crash, and Weiss Ratings research points to the first half of 2026 as a particularly rough stretch for certain holdings.
Some of America's most popular stocks could take serious damage as a radical market shift plays out. Analysts at Weiss Ratings have identified five names you may want to remove from your portfolio before this unfolds.
If any of these are in your portfolio, now is the time to review your positions.
See the 5 stocks to avoidDespite the successful launch of its three newest BlueBird satellites last week, AST SpaceMobile’s stock continues its freefall. The Midland, Texas-based company has seen its shares lose more than 15% over the past five trading sessions, more than 39% over the past month, and around 45% from ASTS’s year-to-date (YTD) and all-time high (ATH) on May 28.
For investors, the tension is clear: AST SpaceMobile’s latest launch was a technical win, but the market is still focused on volatility, capital intensity, insider selling, and the speed at which the company can turn satellite deployments into commercial revenue.
AST SpaceMobile Successfully Deploys BlueBird 8, 9, and 10 Satellites
Earlier in June, the market was keeping an eye on June 17, when AST SpaceMobile’s next three low Earth orbit (LEO) satellites—BlueBirds 8, 9, and 10—were scheduled for deployment aboard SpaceX’s Falcon 9 rocket.
The hope was that, in the wake of the BlueBird 7 Blue Origin mishap, the addition of three satellites to the constellation would give ASTS shares a boost and put the company back on track to meet its goal of having about 45 LEO satellites in orbit by the end of 2026.
In part, that hope materialized. BlueBirds 8, 9, and 10 were successfully deployed from Cape Canaveral Space Force Station and will immediately begin providing D2D commercial and government services.
In a recent press release, founder and CEO Abel Avellan said that “BlueBirds 8, 9, and 10 represent the continued execution of a vision once considered impossible: space-based cellular broadband to everyone, everywhere.”
He added that AST SpaceMobile’s technology is designed to connect directly to everyday smartphones, positioning the company’s satellite network as a potential shift in how mobile broadband reaches underserved and hard-to-cover areas.
ASTS gained nearly 4% last Wednesday as investors turned the page. But optimism alone was not enough to keep the stock afloat. The stock gapped down by more than 10% the following day, with losses mounting ever since.
Why AST SpaceMobile’s Stock Keeps Getting Punished
There are several reasons ASTS has entered a severe correction, chief among them being investors’ limited appetite for highly volatile tech names. AST SpaceMobile’s beta currently stands at 2.70, meaning it is 2.7 times more volatile than the S&P 500.
That volatility has been on full display in 2026. From Jan. 2 to its then-YTD high on Jan. 29, the stock gained more than 46%. An ensuing correction saw ASTS lose more than 35% before bottoming on Feb. 27. By March 4, shares had regained nearly 33% on the back of a positive Q4 2025 earnings report before losing another 30% by March 30.
The start of Q2 brought more of the same. A gain of 34% by April 13 was followed by a nearly 35% loss en route to its YTD low on May 5. Then shares ran up 108%, reaching their ATH on May 28, before the current selloff drove them back down to Earth.
But that volatility stems from multiple factors. One was AST SpaceMobile’s $1 billion offering of convertible senior notes, which come due in 2036. The announcement, disclosed in a Form 8-K filing in mid-February, soured investor sentiment. It also sparked speculation that the capital-intensive nature of the company’s business could become a concern moving forward.
SpaceX’s public debut didn’t help, either. As retail investors clamored for shares ahead of SPCX’s June 12 IPO, other—and notably smaller—companies operating in the space economy saw their shares sold in favor of the newly public industry leader.
Insider selling hasn’t helped support the stock, either. Over the past 12 months, insiders have dumped more than $451 million in shares, compared with just over $187,000 in shares purchased. On June 5 alone, chief technology officer Huiwen Yao sold 40,000 shares valued at $3,854,800.
Meanwhile, analyst downgrades and low ratings have been plentiful:
Weiss Ratings reaffirmed a Sell rating on ASTS on March 27.
Wall Street Zen lowered ASTS from a Sell rating to a Strong Sell rating on April 15.
The number of analysts assigning ASTS a Buy rating fell from three in March to one in June.
ASTS currently carries a Reduce consensus rating and an average price target of around $85.
Lastly, the company’s streak of five consecutive earnings misses has left shareholders dreading quarterly reports, the next of which comes on Aug. 10 after the market closes.
AST SpaceMobile Continues to Scale, But Execution Is the Key Test
For investors looking for bullish indicators, AST SpaceMobile is pushing ahead with rapid growth, with satellites through BlueBird 37 currently in production.
At the same time, BlueBirds 11, 12, and 13 are in their final stages of preparation for shipment to Cape Canaveral, with Avellan noting that the successful stacked launch of BlueBirds 8, 9, and 10 should become the norm going forward.
“Our focus is firmly on execution: scaling launch cadence, manufacturing, and preparing for commercial service,” Avellan said.
That execution will matter more than the launch headlines alone. AST SpaceMobile says its commercial partner ecosystem now includes nearly 60 global mobile network operators covering more than 3 billion subscribers, giving the company a large potential distribution base if its satellite network scales as planned. But the investment case still depends on converting that partner reach into service availability, revenue, and eventually a clearer path toward profitability.
Fundamentally, the company’s vertically integrated operations and ability to scale quickly should continue to be reflected in top-line growth—something that has already been playing out. In Q1, AST SpaceMobile reported year-over-year revenue growth of over 1,952%.
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