Happy Sunday and welcome to another edition of the Smart Wealth Newsletter!

We're excited you've chosen to spend part of your weekend with us as we review another eventful week in the financial markets and discuss long-term opportunities for building wealth through investing and real estate.

As always, this newsletter is a family effort.

I'm Chris McLaughlin, a full-time real estate investor and long-term stock market investor who believes financial independence comes from owning outstanding businesses, quality real estate, and remaining disciplined through every market cycle.

Joining me is my son Trip McLaughlin, who is currently attending the A. B. Freeman School of Business at Tulane University. Trip continues to develop his investing knowledge while studying finance and business strategy, and he regularly shares his perspective on emerging growth companies, technology, and market trends.

Also contributing each week is my son Frankie McLaughlin, who will begin attending Georgetown University's McDonough School of Business this fall. Frankie has already established himself as an outstanding young investor, earning recognition as a National Merit Finalist while building an impressive long-term portfolio centered around innovation, artificial intelligence, semiconductors, and high-quality growth companies.

Together, we hope our weekly discussions help investors stay informed, think long-term, and make smarter financial decisions.

After months of remarkable gains, Wall Street finally experienced a week of healthy profit-taking. While investors naturally dislike seeing red on their screens, the reality is that periods of consolidation are both normal and necessary during long-term bull markets. Following record highs earlier this month, many institutional investors used the past week to lock in profits from some of the year's biggest winners, particularly in artificial intelligence and semiconductor stocks.

By Friday's close, the Dow Jones Industrial Average finished at 51,876.11, slipping just 44.5 points. The S&P 500 closed at 7,354.02, while the Nasdaq Composite finished at 25,297.62 after another difficult week for technology shares. Although the Nasdaq experienced the largest decline of the major indexes, the overall weakness was concentrated primarily in semiconductor companies rather than the broader market.

One of the most encouraging developments beneath the surface was market breadth. While many of the largest technology companies struggled, money rotated into financials, healthcare, industrials, utilities, and many smaller companies. The Russell 2000 continued outperforming large-cap technology, a sign that investors are broadening their exposure rather than abandoning equities altogether. Healthy bull markets typically expand beyond just a handful of mega-cap stocks, and that appears to be happening again.

Technology remains the primary driver of long-term market performance, but after an extraordinary run over the past eighteen months, some cooling was inevitable. Investors have become increasingly focused on whether the enormous amounts of capital being invested into artificial intelligence infrastructure will ultimately generate sufficient profits. Questions surrounding future returns temporarily pressured many semiconductor companies despite continued strong earnings.

One company that attracted significant attention this week was Apple. The stock experienced heavy selling after the company announced price increases across several products, including Macs and iPads. Rising memory costs, combined with higher component expenses throughout the semiconductor supply chain, forced Apple to pass some of those increases along to consumers. Investors worried higher prices could reduce consumer demand, leading to one of Apple's sharpest single-day declines in over a year.

While Apple's decline grabbed headlines, long-term investors should remember that great companies occasionally experience periods where short-term sentiment becomes overly pessimistic. Apple continues generating enormous free cash flow, maintains one of the strongest balance sheets in corporate America, and possesses perhaps the most valuable consumer ecosystem ever created. Temporary pricing concerns are unlikely to alter the company's long-term competitive position.

The Federal Reserve remains another major focus for investors. Inflation has moderated considerably from the peaks experienced over the past several years, but policymakers continue walking a careful line between supporting economic growth and preventing inflation from becoming entrenched once again. Treasury yields moved modestly lower during the week, reflecting expectations that any additional policy tightening would likely be gradual rather than aggressive.

Interest rates remain one of the biggest variables influencing stock valuations. Higher rates generally place pressure on growth stocks because future earnings become less valuable when discounted back to today's dollars. Conversely, stable or declining rates typically support higher valuations for innovative companies whose biggest profits may still lie several years into the future.

Economic data continues suggesting that the U.S. economy remains surprisingly resilient. Employment remains healthy, consumer spending has softened only modestly, and corporate earnings continue exceeding expectations in many sectors. Although certain industries are clearly slowing, the overall economy has thus far avoided the severe recession many economists predicted.

Geopolitics also remained in focus this week, particularly developments involving Iran and the broader Middle East. Investors continue hoping diplomatic efforts can produce a lasting peace following months of elevated tensions. A durable agreement would likely stabilize global energy markets, reduce geopolitical risk premiums, and help keep inflation under better control through lower oil prices.

Energy prices matter far beyond the gasoline pump. Lower oil prices reduce transportation costs, manufacturing expenses, airline fuel costs, and shipping rates. That ultimately helps businesses protect profit margins while also easing inflationary pressures for consumers. Continued stability in the Middle East would therefore represent a meaningful positive development for both financial markets and the global economy.

Artificial intelligence remains the single most important secular investment theme despite this week's volatility. Every major technology company continues increasing capital expenditures aimed at building AI infrastructure. Data centers, networking equipment, advanced memory, GPUs, and high-speed storage continue seeing unprecedented demand. Short-term corrections may occur, but the long-term investment thesis surrounding AI remains intact.

This week's selling in semiconductor stocks illustrates an important lesson for investors. Even outstanding companies rarely move higher in a straight line. Corrections are part of investing. In fact, many of history's greatest long-term winners experienced multiple declines of 20% to 40% while ultimately producing extraordinary returns over decades.

Successful investors learn to separate price movements from business fundamentals. If earnings continue growing, competitive advantages remain intact, and management continues executing well, temporary share price weakness often creates opportunity rather than danger.

Looking ahead to the second half of 2026, several catalysts could influence markets. Investors will closely monitor inflation reports, Federal Reserve communications, second-quarter earnings season, consumer spending trends, developments in artificial intelligence, and progress toward greater geopolitical stability. While volatility may remain elevated during the summer months, history consistently shows that patient investors who remain focused on high-quality businesses are often rewarded over time.

Our overall outlook remains constructive. The economy continues expanding, unemployment remains relatively low, corporate America remains profitable, and innovation has arguably never been moving faster. While headlines will undoubtedly continue creating short-term uncertainty, we believe the long-term backdrop for disciplined investors remains favorable.

As always, remember that investing is not about predicting what markets will do next week. It's about owning exceptional companies that continue increasing their earnings power over many years. Temporary volatility is simply the price investors pay for long-term wealth creation.

One of the most interesting opportunities in today's market is Micron Technology (NASDAQ: MU). Although the stock has experienced considerable volatility recently, we believe Micron continues to represent one of the strongest long-term investment opportunities within the semiconductor industry.

The recent selloff has less to do with Micron's underlying business and far more to do with investor psychology. After producing enormous gains over the past year, many semiconductor companies became victims of profit-taking as investors temporarily questioned whether AI-related spending could continue indefinitely.

Ironically, Micron delivered exactly the type of earnings report long-term investors like to see.

The company reported another outstanding quarter, significantly beating Wall Street expectations while raising forward guidance. Revenue growth remained exceptionally strong as demand for high-bandwidth memory (HBM), DRAM, and NAND flash storage continues accelerating across artificial intelligence, cloud computing, enterprise servers, autonomous vehicles, and consumer electronics.

Micron occupies a unique position within the semiconductor ecosystem. While companies like NVIDIA receive most of the headlines for designing AI processors, those processors simply cannot perform efficiently without advanced memory. Every AI server requires enormous quantities of high-speed memory to process massive datasets in real time. As AI models become increasingly sophisticated, memory requirements continue expanding alongside computing power.

This creates a powerful tailwind for Micron.

The company's High Bandwidth Memory products have become critical components inside the newest generation of AI accelerators. Demand currently exceeds available supply, allowing Micron to enjoy stronger pricing and expanding profit margins.

Beyond artificial intelligence, Micron benefits from numerous additional secular growth trends. Data centers continue expanding worldwide. Electric vehicles require dramatically more memory than traditional automobiles. Smartphones continue incorporating greater AI functionality directly on-device. Industrial automation, robotics, edge computing, and 5G infrastructure all consume increasing amounts of advanced memory.

Importantly, Micron has also become a much better business than it was a decade ago.

Historically, memory manufacturers experienced violent boom-and-bust cycles driven by oversupply. Today, industry consolidation has dramatically improved supply discipline. With fewer major competitors and significantly higher technological barriers, pricing has become more rational, allowing profitability to remain stronger throughout the cycle.

The semiconductor industry itself remains one of the most attractive long-term investment sectors anywhere in the global economy. Nearly every major technological innovation—from artificial intelligence and cloud computing to autonomous driving, cybersecurity, robotics, and advanced medical equipment—depends upon increasingly sophisticated semiconductor technology.

Global chip demand should continue growing for many years.

Although semiconductor stocks can be among the market's most volatile investments, they have historically also produced some of the strongest long-term returns. Investors willing to tolerate short-term price swings are often rewarded as innovation steadily drives earnings higher.

Micron's recent pullback should therefore be viewed within that broader context. Rather than signaling deterioration in the company's business, it largely reflects changing investor sentiment after an extraordinary rally throughout the sector.

At current valuation levels, Micron appears considerably more attractive than it did only a few weeks ago.

Could shares remain volatile? Absolutely.

Could they decline further if technology stocks continue correcting? Certainly.

But for investors with a three-to-five-year investment horizon, Micron remains exceptionally well-positioned to benefit from virtually every major technology trend shaping the global economy.

Sometimes the best opportunities emerge precisely when investors become temporarily fearful.

Micron may prove to be one of those opportunities.

For years, we've discussed the importance of creating multiple streams of income, and one of my favorite ways to do that is through owning quality real estate. While traditional long-term rentals continue to play an important role in many investment portfolios, Airbnb and other short-term rental platforms have opened the door to significantly higher cash flow for investors who are willing to put in the work.

When managed properly, a well-located Airbnb can often generate substantially more income than a traditional year-long lease. However, the difference between an average Airbnb and an exceptional one has very little to do with luck. It comes down to buying the right property, furnishing it thoughtfully, pricing it intelligently, and providing guests with an outstanding experience.

The first step is selecting the right market. Before ever looking at an individual property, research the area carefully. Look for locations that attract visitors throughout the year rather than relying on a single busy season. Beach communities, mountain towns, college towns, business hubs, and destinations with year-round attractions generally provide more consistent occupancy than highly seasonal markets. Also pay close attention to local regulations, as many cities have adopted rules governing short-term rentals.

Once you've selected a market, focus on purchasing the right property. The best Airbnb investments are not always the most expensive homes. Instead, look for properties that offer features guests actively search for. A convenient location, updated kitchen, modern bathrooms, reliable internet, comfortable bedrooms, and attractive outdoor living space often matter far more than excessive square footage.

Run the numbers conservatively before making an offer. Estimate occupancy below the market average and avoid assuming peak-season rates throughout the year. If the investment still produces strong cash flow using conservative assumptions, you've likely found a solid opportunity. Remember to include property taxes, insurance, utilities, internet service, maintenance, cleaning costs, HOA fees, licensing expenses, and reserves for future repairs.

Financing also deserves careful consideration. Rising interest rates have changed the economics of real estate investing over the past several years, making cash flow analysis even more important. If interest rates eventually decline, refinancing could improve returns, but investors should make sure a property works financially under today's lending environment rather than hoping future rate cuts will solve cash flow issues.

One area where many new Airbnb owners make mistakes is furnishing. Your goal is to create a property that photographs beautifully while remaining durable enough to withstand frequent guest turnover. Spend money where guests notice it most. Comfortable mattresses, quality pillows, crisp linens, modern lighting, attractive furniture, and tasteful décor consistently generate better reviews than expensive upgrades guests rarely appreciate.

The first impression begins with the listing photos. Professional photography is one of the best investments an Airbnb owner can make. Bright, wide-angle images that showcase clean spaces and inviting outdoor areas dramatically increase click-through rates and booking conversions. Your property competes against hundreds of others online, and outstanding photography immediately separates your listing from the competition.

Technology has become another essential component of successful Airbnb management. Smart locks eliminate key exchanges and allow guests to check in at their convenience. Smart thermostats help reduce utility expenses while maintaining guest comfort. Exterior security cameras provide peace of mind while helping protect the property. Noise monitoring devices can also alert owners to potential parties before they become major problems.

Guest communication often determines whether a visitor leaves a five-star review. Respond promptly to inquiries, provide detailed check-in instructions, and remain available throughout each stay. Most guests simply want clear communication and confidence that someone will help if an issue arises. Fast responses build trust and often prevent small inconveniences from becoming negative reviews.

Cleanliness is perhaps the single most important factor in earning repeat business. Guests may overlook minor cosmetic imperfections, but they rarely forgive a property that isn't spotless. Develop a detailed cleaning checklist covering every room, including less obvious items like ceiling fans, baseboards, appliance interiors, light switches, and remote controls. Consistency is critical because every guest expects the property to feel brand new upon arrival.

Pricing should never remain static. Successful Airbnb owners adjust nightly rates based on demand, local events, holidays, seasonality, and booking pace. Charging the same nightly rate every day of the year almost always leaves money on the table. Dynamic pricing software, such as PriceLabs, can automatically adjust rates based on market conditions, helping maximize both occupancy and revenue.

Amenities also play a major role in guest satisfaction. High-speed Wi-Fi is no longer optional; it's expected. A fully stocked kitchen, quality coffee maker, streaming television services, laundry facilities, hair dryers, extra towels, and thoughtful welcome items create memorable experiences that encourage positive reviews. Small touches often have a surprisingly large impact on guest perception.

Maintenance should be proactive rather than reactive. Schedule regular inspections of HVAC systems, plumbing, roofing, appliances, smoke detectors, and exterior landscaping. Preventative maintenance is almost always less expensive than emergency repairs, and it helps avoid disrupting guest stays.

Insurance is another area where investors should never cut corners. Standard homeowner's insurance may not adequately cover short-term rental activity. Work with an insurance professional who understands vacation rental properties and make sure you have appropriate liability coverage, property protection, and business interruption coverage if available.

One of the biggest advantages of owning multiple Airbnb properties is the ability to build operational systems. Standardize furnishings, maintenance procedures, cleaning checklists, supply inventories, and guest communication templates across every property. Consistency reduces errors, simplifies training, and makes portfolio growth much more manageable.

Reviews are the lifeblood of every successful Airbnb business. Encourage satisfied guests to leave honest feedback, and always respond professionally to both positive and negative reviews. If criticism is legitimate, fix the issue immediately. Future guests often care just as much about how an owner responds to problems as they do about the problems themselves.

It's also important to remember that Airbnb ownership is an active business. While property managers can handle many day-to-day responsibilities, successful owners continue monitoring financial performance, occupancy trends, maintenance expenses, guest satisfaction, and local market conditions. The best operators are constantly looking for ways to improve both the guest experience and profitability.

Finally, always think long term. The goal isn't simply to generate rental income this month—it's to own appreciating real estate while producing consistent cash flow year after year. As mortgages are paid down, rents increase, and property values appreciate over time, many Airbnb investors build substantial wealth through a combination of monthly income and long-term equity growth.

At our family, we continue to believe real estate remains one of the greatest wealth-building tools available. When combined with disciplined stock investing, owning quality Airbnb properties creates multiple income streams that can provide both financial security and long-term financial freedom. Like any investment, success requires careful planning, disciplined execution, and patience—but for those willing to treat it like a business, Airbnb ownership can become a powerful engine for building lasting wealth.

Chris continues to build his Morgan Stanley portfolio around high-quality companies with durable competitive advantages, exceptional management teams, and long-term growth prospects. Rather than attempting to trade short-term market fluctuations, his investment philosophy focuses on owning outstanding businesses that can compound earnings over many years.

Alphabet (GOOG) closed Friday at $334.69 and is currently up 94.74% since purchase. Wall Street's average analyst rating remains Strong Buy, and Chris also rates Alphabet a Strong Buy. Chris believes Alphabet's leadership in internet search, YouTube, cloud computing, and artificial intelligence positions the company to remain one of the world's premier technology businesses for years to come. Alphabet operates Google Search, YouTube, Google Cloud, Android, and one of the largest digital advertising platforms in the world.

Amazon (AMZN) closed at $232.69 and is currently up 11.86% since purchase. Analysts continue assigning Amazon a Strong Buy rating, and Chris shares that view with his own Strong Buy rating. Chris believes Amazon's leadership in e-commerce, Amazon Web Services, digital advertising, and artificial intelligence creates multiple long-term growth engines capable of driving earnings higher for many years. Amazon is the world's largest online retailer and the leading provider of cloud computing services.

Apple (AAPL) finished the week at $283.78 and has appreciated 89.11% since purchase. Wall Street's consensus rating is Buy, while Chris continues to rate the shares a Strong Buy. Although Apple recently experienced a pullback following concerns over product pricing, Chris believes its unmatched ecosystem, recurring services revenue, and loyal customer base continue to make it one of the highest-quality investments in the market. Apple designs and manufactures the iPhone, Mac, iPad, Apple Watch, and an expanding portfolio of digital services.

Costco Wholesale (COST) closed Friday at $952.54 and is currently up 101.20% since purchase. Analysts maintain a Buy rating, and Chris also rates the company a Buy. Chris appreciates Costco's membership model, disciplined management team, and ability to consistently grow earnings regardless of the broader economic environment. Costco operates one of the world's largest warehouse club retail chains.

GE Aerospace (GE) finished the week at $369.00 and has generated an impressive 273.08% gain since purchase. Wall Street continues assigning GE Aerospace a Strong Buy rating, and Chris agrees with a Strong Buy rating. Chris believes continued strength in commercial aviation, defense spending, and aerospace demand should support strong earnings growth well into the future. GE Aerospace designs and manufactures aircraft engines, aviation systems, and defense technologies.

GE Vernova (GEV) closed Friday at $1,045.17 and has appreciated an extraordinary 922.73% since purchase. Analysts currently rate the company a Buy, while Chris continues to assign it a Strong Buy rating. Chris believes expanding electricity demand, modernization of aging electrical grids, and continued investment in renewable energy will allow GE Vernova to remain one of the biggest long-term beneficiaries of global electrification. GE Vernova provides power generation equipment, renewable energy technologies, and electric grid infrastructure worldwide.

Marvell Technology (MRVL) closed at $266.77 and is currently down 2.71% since purchase. Wall Street's average analyst rating remains Strong Buy, and Chris continues to rate the shares a Strong Buy. Chris believes Marvell's leadership in AI networking chips, cloud infrastructure, and custom silicon solutions positions the company to benefit from continued investment in artificial intelligence infrastructure. Marvell develops advanced semiconductor solutions used in networking, cloud computing, enterprise storage, and artificial intelligence.

Meta Platforms (META) finished Friday at $550.25 and is currently down 5.09% since purchase. Analysts continue assigning Meta a Strong Buy rating, and Chris agrees with a Strong Buy rating. Chris believes Meta's massive global user base, growing AI capabilities, and highly profitable advertising business create an attractive long-term investment opportunity despite recent volatility. Meta owns Facebook, Instagram, WhatsApp, Threads, and several of the world's leading digital communication platforms.

Micron Technology (MU) closed Friday at $1,132.33 and is currently down 5.36% since purchase. Wall Street's consensus rating remains Strong Buy, and Chris also rates Micron a Strong Buy. Chris believes the recent pullback presents an attractive buying opportunity as demand for AI servers, advanced memory, and high-bandwidth memory continues expanding across the technology sector. Micron manufactures advanced DRAM, NAND flash memory, and high-performance memory products used throughout the semiconductor industry.

Microsoft (MSFT) closed the week at $372.97 and has produced an outstanding 716.36% gain since purchase. Wall Street continues assigning Microsoft a Strong Buy rating, and Chris also rates the company a Strong Buy. Chris believes Microsoft's leadership in enterprise software, Azure cloud computing, cybersecurity, and artificial intelligence should continue driving exceptional earnings growth over the next decade. Microsoft develops enterprise software, cloud computing services, productivity applications, and artificial intelligence technologies used worldwide.

Procter & Gamble (PG) finished Friday at $149.02 and is currently up 81.87% since purchase. Analysts maintain a Buy rating, and Chris also rates the shares a Buy. Chris values Procter & Gamble's dependable cash flow, consistent dividend growth, and ability to perform well throughout various economic cycles. Procter & Gamble is one of the world's largest consumer products companies with leading brands in household, personal care, beauty, and healthcare products.

Amazon (AMZN) closed Friday at $232.69 and is currently up 104.82% since purchase. Wall Street continues rating Amazon a Strong Buy, and Chris also rates the company a Strong Buy. Chris believes Amazon remains one of the world's best long-term growth companies as cloud computing, digital advertising, logistics, and artificial intelligence continue expanding. Amazon is a global leader in e-commerce and cloud computing.

American Express (AXP) closed at $340.36 and has gained 104.20% since purchase. Analysts assign the stock a Buy rating, while Chris rates it a Strong Buy. Chris believes American Express continues benefiting from premium customers, rising consumer spending, and exceptional brand loyalty. American Express is a global financial services company specializing in payment cards and merchant services.

Kinder Morgan (KMI) finished Friday at $33.19 and is currently up 122.55% since purchase. Wall Street's consensus rating is Buy, and Chris also rates the company a Buy. Chris believes growing natural gas demand and stable pipeline cash flows should continue supporting attractive dividend growth. Kinder Morgan owns one of North America's largest energy pipeline and storage networks.

Verizon Communications (VZ) closed Friday at $46.54 and is currently down 7.74% since purchase. Analysts rate Verizon a Hold, while Chris also maintains a Hold rating. Chris continues to own Verizon because of its dependable dividend income, recurring wireless revenue, and defensive characteristics. Verizon is one of the nation's largest wireless telecommunications providers.

Exxon Mobil (XOM) finished the week at $136.54 and has appreciated 62.72% since purchase. Wall Street assigns Exxon a Buy rating, and Chris agrees with a Buy rating. Chris believes global energy demand will remain strong for many years while Exxon continues generating substantial free cash flow and returning capital to shareholders. Exxon Mobil is one of the world's largest integrated energy companies.

Tesla (TSLA) closed Friday at $379.71 and is currently up 19.40% since purchase. Wall Street's average analyst rating is Hold, while Chris continues assigning Tesla a Strong Buy rating. Chris believes Tesla's future extends well beyond electric vehicles into autonomous driving, robotics, artificial intelligence, and energy storage, making it one of his highest-conviction long-term investments. Tesla designs electric vehicles, autonomous driving software, robotics, and energy storage systems.

Apple (AAPL) closed Friday at $283.78 and is currently up 154.18% since purchase. Wall Street's average analyst rating is Buy, while Chris continues to rate Apple a Strong Buy. Chris believes Apple's unmatched ecosystem, expanding services business, and growing AI capabilities will continue driving long-term shareholder value despite recent market volatility. Apple designs the iPhone, Mac, iPad, Apple Watch, and a broad ecosystem of software and subscription services.

NVIDIA (NVDA) closed Friday at $192.53 and has gained 95.00% since purchase. Wall Street continues assigning NVIDIA a Strong Buy rating, and Chris agrees with a Strong Buy rating. Chris believes NVIDIA remains the clear leader in AI computing hardware, with demand for its advanced GPUs continuing to accelerate as companies invest heavily in artificial intelligence infrastructure. NVIDIA designs advanced graphics processors, AI accelerators, networking hardware, and software platforms for data centers, gaming, and enterprise computing.

Space Exploration Technologies (SPCX) closed Friday at $153.23 and is currently up 13.50% since purchase. While public analyst coverage remains limited, Chris rates the investment a Strong Buy. Chris believes commercial space exploration, satellite communications, and reusable launch technology represent one of the next great long-term growth industries. Space Exploration Technologies develops reusable launch vehicles, Starlink satellite communications, and advanced aerospace technologies serving commercial and government customers.

Lam Research (LRCX) closed Friday at $379.09 and has appreciated 47.22% since purchase. Wall Street's average analyst rating remains Strong Buy, and Chris also rates the stock a Strong Buy. Chris believes the continued buildout of AI infrastructure and advanced semiconductor fabrication facilities will drive years of strong demand for Lam Research's manufacturing equipment. Lam Research designs and manufactures semiconductor fabrication equipment used to produce advanced integrated circuits.

Palantir Technologies (PLTR) closed Friday at $112.93 and is currently down 21.56% since purchase. Wall Street's consensus rating is Hold, while Chris continues assigning the stock a Strong Buy rating. Chris believes Palantir remains one of the premier enterprise artificial intelligence software companies and expects commercial adoption to continue accelerating over the coming years. Palantir develops advanced AI, data analytics, and decision-support software used by governments and commercial enterprises.

Trip continues building an impressive growth portfolio while attending the A. B. Freeman School of Business at Tulane University. His investment strategy focuses on artificial intelligence, semiconductors, electrification, software, and commercial space exploration.

GE Vernova (GEV) closed Friday at $1,045.17 and is currently up 942.63% since purchase. Wall Street's average analyst rating remains Buy, while Trip rates the company a Strong Buy. Trip believes growing electricity demand, AI data centers, and global grid modernization will continue driving long-term earnings growth. GE Vernova develops power generation equipment, renewable energy technologies, and electrical grid infrastructure.

Costco Wholesale (COST) closed Friday at $952.54 and has appreciated 106.66% since purchase. Analysts assign Costco a Buy rating, and Trip also rates the stock a Buy. Trip appreciates Costco's disciplined management, recurring membership revenue, and exceptional customer loyalty. Costco operates one of the world's largest membership warehouse retailers.

Navitas Semiconductor (NVTS) closed Friday at $17.30 and is currently down 29.15% since purchase. Wall Street continues assigning the company a Strong Buy rating, and Trip also rates it a Strong Buy. Although the shares have been volatile, Trip believes Navitas remains well-positioned as adoption of GaN and SiC power semiconductors accelerates across AI, electric vehicles, and renewable energy. Navitas Semiconductor develops next-generation power semiconductor technologies.

Intel (INTC) closed Friday at $128.32 and is currently up 0.37% since purchase. Analysts currently rate Intel a Buy, and Trip also assigns the company a Buy rating. Trip believes Intel's manufacturing turnaround and AI chip investments could significantly improve long-term earnings growth. Intel designs and manufactures processors, semiconductor technologies, and advanced computing platforms.

IBM (IBM) closed Friday at $271.63 and has gained 8.43% since purchase. Wall Street's consensus rating is Buy, and Trip agrees with a Buy rating. Trip believes IBM's continued expansion into hybrid cloud computing and artificial intelligence provides steady long-term growth opportunities. IBM develops enterprise software, consulting, cloud computing, cybersecurity, and AI solutions.

Space Exploration Technologies (SPCX) closed Friday at $153.23 and is currently down 7.57% since purchase. Because analyst coverage remains limited, Trip assigns the company a Strong Buy rating. Trip believes SpaceX's leadership in launch services, Starlink, and future space infrastructure makes it one of the most exciting long-term investments available. Space Exploration Technologies develops reusable rockets, satellite communications, and advanced aerospace technologies.

As Frankie prepares to begin his freshman year at Georgetown University's McDonough School of Business, he continues building an outstanding portfolio centered on innovation and long-term growth. His investments focus on artificial intelligence, semiconductors, autonomous driving, enterprise software, renewable energy, and cloud computing.

Navitas Semiconductor (NVTS) closed Friday at $17.30 and is currently up 132.52% since purchase. Wall Street's average analyst rating remains Strong Buy, and Frankie also rates the stock a Strong Buy. Frankie believes Navitas remains a long-term winner despite recent volatility as demand for advanced power semiconductors continues expanding. Navitas Semiconductor develops gallium nitride and silicon carbide power semiconductor technologies.

GE Vernova (GEV) closed Friday at $1,045.17 and has appreciated 942.63% since purchase. Analysts continue assigning the stock a Buy rating, while Frankie rates it a Strong Buy. Frankie believes AI-driven electricity demand and renewable energy investment should continue supporting years of strong earnings growth. GE Vernova develops power generation systems and electric grid infrastructure.

Costco Wholesale (COST) closed Friday at $952.54 and is currently up 106.29% since purchase. Wall Street rates Costco a Buy, and Frankie also assigns a Buy rating. Frankie appreciates Costco's financial strength, consistent earnings growth, and loyal membership base. Costco operates membership warehouse clubs throughout the world.

Nebius Group (NBIS) closed Friday at $240.30 and has appreciated 183.47% since purchase. Wall Street's average analyst rating remains Strong Buy, and Frankie also rates the stock a Strong Buy. Frankie believes Nebius is well-positioned to benefit from continued growth in artificial intelligence cloud infrastructure and enterprise computing. Nebius Group provides AI cloud computing and infrastructure solutions.

Tesla (TSLA) closed Friday at $379.71 and has gained 27.68% since purchase. Wall Street currently assigns Tesla a Hold rating, while Frankie continues rating the shares a Strong Buy. Frankie believes Tesla's future leadership in autonomous driving, robotics, AI, and energy storage extends well beyond electric vehicles. Tesla designs electric vehicles, robotics, autonomous driving software, and energy storage systems.

ServiceNow (NOW) closed Friday at $98.34 and is currently up 7.94% since purchase. Analysts continue assigning the company a Strong Buy rating, and Frankie agrees with a Strong Buy rating. Frankie believes enterprise workflow automation and artificial intelligence will continue driving ServiceNow's long-term growth. ServiceNow develops cloud-based workflow automation and enterprise software.

Aurora Innovation (AUR) closed Friday at $6.36 and has appreciated 63.08% since purchase. Wall Street's consensus rating remains Strong Buy, while Frankie also rates Aurora a Strong Buy. Frankie believes autonomous trucking represents one of the most exciting long-term opportunities in transportation technology. Aurora Innovation develops autonomous driving technology focused on commercial freight transportation.

Meta Platforms (META) closed Friday at $550.25 and is currently down 4.78% since purchase. Analysts continue assigning Meta a Strong Buy rating, and Frankie also rates the company a Strong Buy. Frankie believes Meta's AI investments and dominant digital advertising business position the company for many more years of growth. Meta owns Facebook, Instagram, WhatsApp, Threads, and other leading digital platforms.

Microsoft (MSFT) closed Friday at $372.97 and has appreciated 115.18% since purchase. Wall Street continues rating Microsoft a Strong Buy, and Frankie agrees with a Strong Buy rating. Frankie believes Microsoft's leadership in cloud computing, cybersecurity, enterprise software, and artificial intelligence makes it one of the highest-quality technology companies in the world. Microsoft develops software, cloud computing platforms, AI technologies, and productivity applications.

As we close out another week, we're reminded that building wealth is a long-term journey built on discipline, patience, and consistency. Markets will inevitably experience periods of volatility, but history has shown that investors who remain focused on owning outstanding businesses and quality real estate are often rewarded over time. Our family continues to invest with a long-term perspective, emphasizing companies that are leaders in innovation, artificial intelligence, semiconductors, cloud computing, energy infrastructure, consumer products, and commercial space exploration.

Thank you for spending part of your weekend with us. We sincerely appreciate your continued readership and hope the Smart Wealth Newsletter helps you become a more informed investor and a more confident steward of your financial future. We look forward to sharing another edition with you next week.

The Smart Wealth Newsletter is provided solely for educational and informational purposes and should not be considered investment, legal, accounting, or tax advice. The opinions expressed are those of Chris, Trip, and Frankie McLaughlin as of the publication date and are subject to change without notice.

Investing involves risk, including the possible loss of principal. Past performance is not a guarantee of future results, and no investment strategy can eliminate market risk. Always perform your own due diligence and consult with qualified financial, legal, and tax professionals before making investment decisions.

Thank you for reading, and have a wonderful week! We look forward to seeing you again in next Sunday's edition of the Smart Wealth Newsletter.