Shesa's JUNE 2026 Investment Blog

Welcome to Shesa’s investment Blog! 

U.S Stock Market Update

April was one of the spectacular months for the stock market but market continued to keep the bullish momentum into May. All the major indices hitting multiple new record highs amid robust corporate earnings, AI/tech leadership, and fluctuating optimism around U.S and Iran geopolitical developments and pullback in the oil prices. The Nasdaq was again the star, up 8% for the month. The S&P 500 finished up 5%, while the Dow was up about 3%. Please note that Nasdaq was up 15% in April and S&P 500 was up 10.5%. All in all, April and May were fantastic months for the investors. The semiconductor stocks continued its mammoth momentum. So far, Semiconductor index has gone up astronomical 59% for the year. The Small Cap - Russell 2000 is in distant second with 17.6%. Some software stocks also bounced back well. The S&P has gained 19% over the last 9 weeks, 16th biggest 9-week gain for the index since 1950. Micron (MU) which added in my last blog (May) had a mammoth run, up 79% in one month! Such things do not happen often in life, but thanks for AI!!

So what drove the market for such a huge run in April and May? I can attribute it to solid corporate earnings (up 28.4%), hope for positive development between U.S and Iran negotiations and pullback in oil prices kept investors upbeat sentiment. Also, the hope that new Fed chair Kevin Warsh would keep holding rates steady. Sell in May and go away concept failed again this year. There is a saying “trend is your friend”. 

Economic: The PCE Price Index rose 3.3% annually in April, consistent with Wall Street expectations. Consumer spending was up 0.5%. But the consumer sentiment was down to 44 from 48.

Q1 2026 Earnings

The S&P 500 has a record-breaking Q1 2026 earnings season. The earnings growth came at 28.4%. Before the quarter, analysts were expecting around 11% earnings growth but the real results were incredibly better. Thanks to AI for the explosive corporate earnings in the tech sector. Around 94% of companies have reported earnings, 84% beat the  estimates.

Whether market go up or go down goofing forward? This is always a big question in mind “where we go from here?”. I can share my thoughts but let’s look at the stock market index first. 

	2026
Indexes	Close FRI 12/31/25	Close FRI 5/29/26	Change in 2026	% Change in 2026
DOW	48,063.99	51,032.46	2,968.47	6.18
S&P 500	6,845.5	7,580.06	734.56	10.73
NASDAQ	23,241.99	26,972.62	3,730.63	16.05
Russel 2000	2,481.91	2,919.34	437.43	17.62
SOX (Semi)	8,083.13	12,829.38	4,746.25	58.72

Economic

• CPI/Inflation: 3.8% 
• GDP Growth: 1.6% (Q1), Yearly growth: 2.7%
• Non Farm Payrolls: 115,000
• Unemployment at 4.3% 
• Interest Rate: 3.75%
• Retail Sales (April): 0.5%

Key Economic Report next week (May 4-8)

Two very important numbers are expected next week on inflation due to higher oil and gas prices.

• Monday, 6/1: ISM Manufacturing
• Wednesday, 6/3: ADP employment
• Friday, 6/5: U.S. employment report
• Potential SpaceX IPO: 6/12/26 (Not confirmed yet!)

The biggest IPO in History (SpaceX)

SpaceX is expected to go IPO with the stock symbol SPCX on Nasdaq, possibly on June 12. As it stands today, this will be the largest IPOs ever in the history of stock market, targeting a valuation in the $1.5–2 trillion and expected to raise around $75-80 Billion. Elon Musk is expected to retain 42% of equity but 85% voting power the way it’s structured. There are lots of hype and also lots of negative sentiment combined for this IPO. But let me share my view.

Financials and Growth

• Revenue: In 2025 SpaceX had $18.7 billion, up 33% YoY. Out of which Starlink contributed major chuck of $11.4B 
• Operating Profit: $4.4B Satellite launch/services and emerging AI segments make up the rest.
• Net loss: $4.9B in 2025 vs. profit in 2024, with Q1 2026 showing another $4.3B loss. 
• Growth: As of March 2026, StarLink had around 10.3 million paid subscribers, 105% increased from the year before, Starshield like Starlink is specially launched for government with additional security
• In addition to Starlink, it has other sources of revenue as indicated below:
• Starship (Satellite) development and launch, government contracts 
• Reusable Rockets: The most important difference between any other space program and SpaceX is the reusable rockets. Nobody ever thought that rockets can be re-usable but Elon Musk showed that this can be done and already tested. This should substantially reduce the rocket and lower launch costs. Starlink can scale connection speed and expand as more and more satellites are launched at lower cost. It does not matter about the about geographic location on the earth, inside the ocean or desert or in the space, except possibly inside the forest.
• Orbital AI data centers (future): This is expected to be the biggest growth, if it works out. It’s expected to build the data center in the space. But it may be too early to call since we may see a demo version in 2028. It’s a long topic to discuss. So, I will skip it of now. 

Negatives

Valuation: Expected IPO can be in the range of $1.5–2T, that’s around 80–100 times trailing sales. Even though strong growth is expected (appox $22–28B+ revenue in 2026), it’s pricing in massive execution success over many years. Secondly, the lock-up expirations could potentially create selling pressure.

Positives

It can bring huge global internet, space infrastructure, defense (Starshield), potential space-based compute at cheaper cost. Elon Musk is the KEY for all his companies. He is the biggest visionary inventor on the earth today and better not to bet against him. There are lots of skeptics who does not like him but that’s OK. Starlink is already profitable and scaling fast. Many analysts see it as a platform for the future with re-usable rockets and orbital data center. If it works, the growth can be astronomical.

My view: I invested only in two IPOs in the past - MasterCard and META. It’s the game of big institutional investors, retail investors mostly suffer. Having said that, probably SpaceX will be 3rd one that I may take a small position after IPO. This is going to be the biggest IPO ever seen and as reports suggest it has been significantly oversubscribed.  So, it may open with big upside as there are lots of demand for the shares. I won’t chase it, but may take a very small position. Once the hype subside, it may pullback and that would be great time to add to the position. If an investor invested $2,610 in Tesla's IPO in 2010, he/she would have over $1,000,000 today, a staggering 38,860% return. So, we may say SpaceX is overvalued and remain on the sideline or take a small position and build on it over the next few months and years. The discretion and decision is ours! Past performance does not mean, future would have similar returns, but I may take a small bet and build it. If someone is skeptic, then better to stay away.

What to Expect going forward - The bigger picture

Sell in May and Go away failed this year. We saw huge market rallies in April and May. So what Historically, June is better than May where S&P 500 has returned around 0.8% for the month. But stocks went up huge in the last two months, so it’s difficult to predict whether we may see the same momentum. The market and the stocks need little breather and that’s good for the overall health of the market. It would be a good idea to be watchful for next few weeks. Some pullbacks may give better opportunity to add going into the next earning season. Historically, June, July and August are usually good months for the market. 

Usually, May through October tends to be weaker than the first half of the year. Also, let’s not forget that market becomes very volatile during the mid-term election year, particularly before the election. Strategy does not keep changing always, but we need to re-strategize or fine tune depending on market situation. I will stay selective with strong earnings names, and keep some cash ready for dips. Those companies who came with solid earnings and benefited because of AI are the ones to keep an eye on. If they come down, that may provide further opportunities for foreseeable future.

All that said, current bull market dynamics (AI, earnings, Fed decisions, U.S - Iran negotiations, and the SpaceX IPO) could override that and bull run may continue. Expect potential volatility possibly around or after SpaceX IPO. Any potential U.S - Iran deal could also add fuel to the fire. So, it’s worth taking some chips out of the table and better to be watchful and invest on companies with solid earnings on those which are not over valued. If someone is not invested then the huge run in the market is already missed! Since market has gone up so much, the RISK is also high. Hence, it’s also advisable to be watchful and take selective position. 

Stock Market TOP sectors for 2026 (as of 5/31/26)

Sector	Performance Year-To-Date %
Energy (TOP)	24.38
Information Technology	23.54
Industrials	11.45
Materials	11.24
Real Estate	9.42
Communication Services	9.01
Financials (WORST)	-6.03

You can click below link to view complete sectorial performances:

Source: https://www.barchart.com/stocks/sectors/rankings?timeFrame=Ytd

Stocks to watch

Broadcom (AVGO): Earnings expected on Wednesday, 6/3. I expect Broadcom to have a solid quarter. I may be wrong. We will see how it goes..

Other stocks to watch: MU, NVDA, MRVL, TSLA, NBIS, APLD, SOXL, IONQ, DXYZ, AMD, GOOG

Note: The above are not recommendations to buy/sell.

Now let me discuss the stock for this month in my blog portfolio.

Dell Technologies Inc. (DELL)

Dell Technologies Inc. designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services across the globe. In simple, I can say it provides IT solutions, including servers, storage, PCs, workstations, and services. The company was founded by Michael Dell in 1984 and headquartered in Round Rock, Texas. 

Why do I like DELL?

I had Dell a couple of years ago and was included in my Blog portfolio. But the company got into margin pressure and growth slowed. Hence I sold out my position and removed from the blog portfolio. However, seeing the spectacular earnings last Thursday, I decided to take some positions. The company is benefiting from the surge in demand for AI-optimized servers and data center solutions, alongside its traditional strengths in PCs and commercial computing. In addition, the company is also benefiting from its close association with the current administration. The AI growth and momentum is changing the whole dynamics. So, why did I suddenly decide to buy the shares? The reason is nothing other than spectacular earnings. It was huge, probably one of the best similar to Micron and SanDisk. Let’s look into the Financials.

Financials

Revenue: $43.84 billion vs $36.1 billion estimated, 87.5% year-on-year growth, 21.5% beat

EPS: $4.80 vs $2.96 estimated (62% beat)

Guidance: The company increased its revenue guidance to $167 billion from $140 billion, a 19.3% increase. It also increased its full-year EPS guidance to $17.90 from $13.16, 55.4% increase

Operating Margin: 8.3%, up from 5% in the same quarter last year

Basically, it was a an excellent quarter and massive guidance. Obviously, the company is seeing unprecedented demand due to AI.

A few key metrics

• Market Cap: $273.41B
• Trailing P/E: 48.49
• Forward P/E: 32.26
• Price/Sales: 2.54.
• Revenue (Yearly): $134B, Revenue growth: 87% 
• EPS: $8.67, Earnings Growth: 256%
• Cash: $14.5B, Debt: $11.58B
• Held by Institution: 82.45%

Strategy

The shares were up $103, up 33% last Friday. I don’t like to chase any stock but I still thought it’s worth adding it to my portfolio and blog portfolio as well. There may be some pullbacks but that would be opportunity to accumulate for long term. AI growth and momentum is going to continue for at least another few quarter/years. Currently, the stock is trading at $420.91. The stock had gone up to $429 but pulled back slightly. I will keep slowly accumulating as and as time goes, especially if it comes down. 

Risks

Every equity carry risk based on the market situation and company’s performances. If AI spending slows then DELL is no exception. It has become little expensive with forward earnings of 32 times. But visualizing its prospects, I am OK to take some calculated risks. 

My final thoughts

Right now, we are seeing exceptional AI momentum and DELL has picked up at the right time. Visualizing its revenue growth, profit growth, momentum and unpecendent demand due to AI explosion, I believe this is a solid stock for bullish AI play. Its competitors like SMCI, and HP are facing their own challenges. With that said, if I see any red flag on any of my holding, then I do not hesitate to pull the trigger. But at this time, I think DELL has turned the table. This is not a recommendation to buy the stock rather my opinion and every investor must do their due diligence. 

Shesa’s Blog Portfolio (As of MAY 31, 2026) - Not recommendations

Equity	Suggested Price	Current Price	Suggested Date	% Change	My View  (see disclaimer)
STOCK (All prices are in USD)
AAPL	12.9	312.06	1/25/13	2319%	Buy on Dip below $300
META	47	608.75	11/13/13	1195%	HOLD
MA	77.18	495.46	12/12/13	542%	HOLD
AMZN	15.58	270.64	4/12/14	1637%	HOLD
SHOP	13.48	118.71	204.91	781%	HOLD
SPG	54.59	204.91	5/25/20	275%	HOLD
NVDA	23.9	211.14	2/13/22	783%	Buy on Dip
TSLA	290.25	434.35	5/1/22	50%	Accumulate - Long term
RKT	14.24	14.51	7/6/25	2%	HOLD
SOXL	15.66	224.34	4/6/23	1333%	HOLD
GOOG	123.25	376.44	5/21/23	205%	Buy on Dip
PLTR	20.49	156.54	11/19/23	664%	HOLD
Z	51.92	35	8/11/24	-33%	I may SELL it Monday
LRCX	76.16	318.18	11/11/24	318%	HOLD
RXRX	5.32	3.59	1/2/25	-33%	HOLD
IONQ	37.46	72.07	2/18/25	92%	Buy on Dip below $60
AVGO	203.64	446.77	4/5/25	119%	HOLD (wait for earnings on 6/3)
APLD	11.18	47.28	6/15/25	323%	HOLD - Buy below $40
HOOD	94.4	94.30	7/6/25	-0%	HOLD (Trimmed)
CRWV	104.14	119.01	8/3/25	14%	SOLD
NBIS	65.47	207.27	9/7/25	217%	HOLD - Buy below $300
HIMS	53.95	27.41	10/12/25	-49%	SOLD
TEM	71.56	55.01	11/9/25	-23%	SOLD
AMD	214.16	516.10	1/1/26	141%	HOLD
GLD	455.46	417.12	2/8/26	-8%	HOLD
SLV	85.27	68.33	3/1/26	-20%	HOLD
UVIX	10.86	3.83	3/29/26	-65%	Sold Most - Very small position
VTV	196.99	211.85	4/4/26	8%	HOLD
MU	542.21	971	5/3/26	79%	Accumulate on any weakness
DELL	420.91	420.91	5/31/26	0%	NEW ADDITION
MUTUAL FUND
PRMTX	59.45	136.5	12/20/14	130%	HOLD
FSRPX	9.05	17.66	1/15/16	95%	HOLD

Equity Sold since my Last Blog

HIMS

TEM

CRWV

Disclaimer: This blog is meant to provide my opinion only. The information provided is to the best of my knowledge but may not be accurate. I do NOT provide any professional recommendation to buy/sell any stock, ETF, mutual fund, or any other security(s). As an investor, it’s your hard-earned money and you decide what is best for you. The above are merely my own opinions on what I do. Please contact a professional money manager to buy/sell any security. I do not charge any fees or commission by writing the blog except anything from Google AdSense. I have position(s) on whatever security I put on my blog portfolio and avoid including any security that I do not own or follow. Anyone buying or selling the equities mentioned here must do at their own risk.

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