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Broadcom Stock Surges After Blowout Q1 Earnings — Can It Hold the Gains?
Posted On Mar 05, 2026 by Chris Markoch


Broadcom Inc. (NASDAQ: AVGO)delivered a blockbuster first quarter, sending shares up nearly 5% in after-hours trading on March 4, 2026. The semiconductor and infrastructure software giant crushed expectations on virtually every meaningful metric, powered by an AI semiconductor business that is growing at a staggering pace.
Table of Contents
- A Quarter That Was Hard to Argue With
- The AI Engine Is Just Getting Started
- Guidance That Demands Attention
- Can the After-Hours Pop Hold?
- The Long-Term Case Remains Intact
The question now is whether the euphoria will hold when the market opens on March 5, or whether AVGO will follow a pattern that has become all too familiar with AI-related stocks this earnings season.
A Quarter That Was Hard to Argue With
Broadcom reported first-quarter fiscal year 2026 revenue of $19.31 billion, a 29% increase from the $14.92 billion the company posted in the same quarter a year ago. Net income on a GAAP basis came in at $7.35 billion, or $1.50 per diluted share, representing a 34% year-over-year improvement. On a non-GAAP basis, the measure most closely watched by Wall Street, Broadcom earned $2.05 per diluted share, up 28% from the prior year period.
Adjusted EBITDA came in at $13.13 billion, or 68% of revenue, up 30% from a year ago. Free cash flow was $8.01 billion, representing 41% of revenue. For a company of Broadcom’s scale, these numbers are a statement about operational discipline. CEO Hock Tan and CFO Kirsten Spears have built a machine that converts revenue into cash at a rate that stands out among technology companies.
The AI Engine Is Just Getting Started
The headline number buried inside the quarter was AI semiconductor revenue of $8.4 billion. That was up 106% year-over-year (YoY) and came in above the company’s own forecast. That’s not a rounding error. It’s a doubling of AI revenue in a single year, driven by robust demand for custom AI accelerators and AI networking products.
Broadcom’s semiconductor solutions segment, which includes its AI chip business, generated $12.52 billion in revenue during the quarter, up 52% year-over-year. Infrastructure software, which includes the VMware business Broadcom acquired in 2023, contributed $6.80 billion, up just 1% from the prior year. The story here is unmistakably about semiconductors — and specifically about AI.
What makes this particularly compelling for long-term investors is where management says things are heading. Hock Tan guided for AI semiconductor revenue of $10.7 billion in the second quarter alone. If that comes to pass, Broadcom’s AI business will have grown from a meaningful contributor to an absolute cornerstone of the company’s identity in the span of just a few quarters.
Guidance That Demands Attention
Second quarter revenue guidance of approximately $22.0 billion would represent 47% growth year-over-year — a significant acceleration from the 29% the company just reported. Adjusted EBITDA margins are expected to remain at 68% of projected revenue, suggesting that Broadcom is not buying growth by sacrificing profitability. This is the kind of guidance that tends to make analysts reassess their price targets for a company.
The company also announced a new $10 billion share repurchase program authorized through December 31, 2026, and reaffirmed its quarterly dividend of $0.65 per share, payable March 31, 2026. During the first quarter, Broadcom returned $10.9 billion to shareholders through $3.1 billion in cash dividends and $7.8 billion in stock repurchases. A company generating $8 billion in free cash flow per quarter and returning nearly $11 billion to shareholders in the same period is not just a growth story — it is increasingly a capital return story as well.
Can the After-Hours Pop Hold?
This is where the picture gets more complicated. Looking at the chart, AVGO shares closed Wednesday at $317.53, already sitting well below the 50-day simple moving average of $334.69. The stock has been in a downtrend since peaking near $400 late last year, and the RSI of 41.82 suggests the stock has been in oversold territory, but has not yet found a decisive floor.
The after-hours pop to roughly $332 puts the stock right back at that 50-day moving average. That’s exactly the kind of technical resistance level that can turn a gap-up open into a “sell the news” reversal. We’ve seen this movie before. The reaction to NVIDIA Corp. (NASDAQ: NVDA) earnings has been instructive. That is enormous beats, euphoric after-hours moves fueled by high-speed algorithmic trading programs. But in the case of NVDA stock, those gains disappeared once the regular trading session began.
It is not hard to construct the bear case for the next 24 hours. Broadcom is not cheap on any traditional valuation metric. The VMware integration, while proceeding well, still leaves infrastructure software growth at just 1%. That’s a reminder that not all parts of this business are firing equally. And the broader market tape, with tariff uncertainty and macro headwinds weighing on sentiment, is not exactly a tailwind for high-multiple tech names.
Still, the bulls have plenty of ammunition. A 47% revenue growth guide is not something the market ignores. If institutional buyers decide this quarter represents a re-rating event. That is, a moment where the consensus AI revenue trajectory gets revised meaningfully higher. In that scenario, AVGO stock could sustain and extend its gains through the regular session and beyond.
The Long-Term Case Remains Intact
Whether AVGO holds its gains on Thursday or gives some back, the long-term investment thesis around Broadcom deserves to be taken seriously. The company sits at an increasingly critical intersection of custom silicon and AI infrastructure, designing the kinds of chips that hyperscalers need to run their AI workloads at scale. Memory and high-bandwidth interconnects — areas where Broadcom’s networking expertise is particularly relevant — are going to be essential bottlenecks in AI infrastructure for years to come.
At $317 before earnings, the market was pricing in considerable skepticism. The results announced tonight suggest that skepticism may have been overdone. Whether you are a momentum trader watching that 50-day moving average or a long-term investor building a position around the AI infrastructure thesis, Broadcom just gave you a lot to work with.
The quarter was about as clean as they come. The story is getting bigger, not smaller. How the stock trades tomorrow will say more about the market’s mood than about Broadcom’s business.
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5 Cheap Stocks to Watch the Week of March 16–20, 2026
March 15, 2026
5 Cheap Stocks to Watch the Week of March 16–20, 2026
Earnings catalysts, beaten-down prices, and bargain-hunter opportunities — all in one week.
Hey there, bargain hunter. This week is not a week to look away from your screen. The earnings calendar for March 16–20, 2026 is one of the most densely packed of the entire quarter, and inside it sits a cluster of names that have either been beaten down by narrative-driven selling, cycle fears, or macro noise — while the underlying businesses continue to generate real cash. That is exactly the kind of setup this newsletter was built for. Five names. Real data. No fluff.
The Macro Setup: What the Market Is Dealing With
Before we get into the names, understand the room you are walking into. The Nasdaq Composite is in an intermediate-term downtrend, and as of this writing, the index is threatening to close below its 200-day simple moving average for the first time since last May. Market expectations for Fed rate cuts in 2026 remain subdued: the probability of a 25-basis-point cut in March is sitting at just 5%, April is at 23%, and June is at 60%. Meanwhile, the S&P 500 forward price-to-earnings ratio is still running near 21.5 times earnings — a stretched multiple that leaves very little room for error in most sectors.
What that means for you: when the broad market is expensive and macro uncertainty is elevated, the stocks that are already cheap going into earnings have an asymmetric setup. They do not need perfection. They need to not disappoint — and sometimes, they need to do nothing more than simply show up with in-line numbers and steady guidance to catch a bid. The five names below all have that setup in some form.
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Stock No. 1: Micron Technology (MU) — The AI Memory Machine That Nobody Wants to Pay Up For
Earnings date: Wednesday, March 18, after the close.
Micron reports its fiscal second quarter 2026 results on Wednesday evening, and the setup heading in is genuinely remarkable for value-oriented investors. The company is in the best competitive position in its history by its own account — and the numbers back that up. In fiscal Q1 2026, Micron delivered record revenue of $13.6 billion, up 57% year-over-year, with a gross margin of 56.8% (an improvement of 11 percentage points sequentially) and a record free cash flow of $3.9 billion. Every single business unit posted record revenues: cloud memory hit $5.3 billion, mobile and client reached $4.3 billion, the core data center unit came in at $2.4 billion, and automotive and embedded contributed $1.7 billion.
For fiscal Q2, management guided to record revenue of $18.7 billion, with a gross margin of 68% and EPS of $8.42. Wall Street is looking for approximately $8.56 in EPS. The Susquehanna analyst covering the stock has raised his 12-month price target to $525 from $345, noting that average selling prices for DRAM and NAND are tracking meaningfully above January expectations and that the trend appears sustainable into Q2 of calendar 2026.
The real reason the stock has not moved in proportion to its earnings trajectory is cyclicality risk. Micron operates in the semiconductor memory market, which has historically been among the most volatile in all of industrials. Investors are already discounting a potential earnings peak by mid-2027. The company has also guided to approximately $20 billion in capital expenditure for fiscal 2026 to support HBM and DRAM supply capabilities. That is real cash going out the door. In the medium term, management acknowledged it can only meet approximately 50% to two-thirds of demand from several key customers — a supply constraint that is simultaneously a problem and a pricing lever.
The bull case is straightforward: HBM (high bandwidth memory) total addressable market is expected to reach $100 billion by 2028, growing at a compound annual rate of approximately 40% from 2025. Micron is ramping its 1-gamma DRAM node and G9 NAND node through 2026, and its first Idaho fab is now expected to produce wafers by mid-2027. The bear case is equally clear: if the AI build-out cycle slows faster than expected, memory pricing collapses, and a $20 billion capex commitment becomes a millstone. For bargain hunters, the question is whether the current valuation already prices in that downside. Given the earnings trajectory and the supply dynamics described above, there is a credible argument that it does.
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Stock No. 2: Five Below (FIVE) — The Discount Retailer That Finally Got Its Groove Back
Earnings date: Wednesday, March 18, after the close.
Discount retail is having its moment. Five Below reports its full fiscal year 2025 results on the same night as Micron, and the data going into that report is significantly better than the sentiment around the stock might suggest. During the holiday period (November 2, 2025 through January 3, 2026), Five Below posted net sales of $1.47 billion, a 23.2% increase over the prior-year period, with comparable store sales up 14.5%. That is not a struggling retailer. That is a retailer firing on all cylinders.
Management followed that print with a raised outlook: Q4 fiscal 2025 net sales of approximately $1.71 billion, comparable sales of around 14.5%, and diluted EPS in the range of $3.93 to $3.98. For the full fiscal year 2025, the company guided to net sales of approximately $4.75 billion and comparable sales of roughly 12.5%, with diluted EPS in the range of $6.10 to $6.15 and adjusted EPS of $6.30 to $6.35. Through Q3 alone, the company had already opened 49 net new stores in the quarter, ending the period with 1,907 stores across 44 states. Year-to-date sales through Q3 were $3.04 billion, up 22.1%. Third-quarter same-store sales surged 14.3%, driven by traffic growth. Operating income turned positive at $43.3 million compared to a loss in the year-earlier period.
The valuation picture is nuanced. The stock has had a strong run — up 182.4% over the past year and trading roughly 3% below the latest analyst price target, per recent analysis. The median Wall Street price target among 35 analysts surveyed sits at $162.00, with a buy consensus. Bank of America double-upgraded the stock in early February, citing upside under new leadership. The risk here is not the business — it is the stock price. After a run like that, the bar is high and any guidance disappointment will get punished. Watch for commentary on tariff impacts (the company explicitly called out tariff considerations in its raised outlook) and management’s store opening cadence for fiscal 2026. If those two data points land clean, the stock warrants attention.
Stock No. 3: DocuSign (DOCU) — The Anti-Bubble Poster Child With a Free Cash Flow Story Nobody Is Reading
Earnings date: Tuesday, March 17, after the close.
DocuSign is the kind of stock that makes value investors feel vindicated and impatient in equal measure. The company reports its fiscal Q4 2026 results on Tuesday evening — and heading into that print, the stock has declined approximately 40% over the past year, the stock closed recently at $48.00, and the 52-week range runs from $40.16 to $94.67. It is the definition of a narrative-driven sell-off colliding with a fundamentally sound business.
Here is what the narrative has missed. In fiscal year 2025, DocuSign generated $2.98 billion in revenue, up 7.78% year-over-year. Over the trailing twelve months, the company produced $1.10 billion in operating cash flow and $987.93 million in free cash flow. The balance sheet carries $839.87 million in cash against just $150.37 million in debt — a net cash position of $689.50 million, or approximately $3.44 per share. Gross margin stands at 79.5%. Return on invested capital is 20.41%. The forward P/E ratio sits at 11.21 times, and the EV/FCF ratio is just 8.39 times. For a company generating nearly a billion dollars in annual free cash flow with that balance sheet, that is genuinely inexpensive.
The narrative working against DocuSign is AI disruption — specifically, the fear that AI-native tools will commoditize electronic signatures and erode the moat of the company’s Intelligent Agreement Management (IAM) platform. The IAM platform currently serves over 25,000 customers, and DocuSign has raised its full-year revenue outlook to approximately $3.21 billion. Analysts entering this earnings release are projecting a 10.5% increase in EPS and a 6.7% rise in revenue. The average price target from analysts surveyed sits at $86.57 — representing a 93.15% premium over the recent closing price. Morningstar pegs fair value at $93.00 per share. One DCF-based analysis suggests the stock may be undervalued by as much as 59.6%. The bear case is real — DocuSign has shown it can decline 45–88% in major market events — but at current prices, you are not paying for a growth story. You are paying for cash flow, and you are getting it cheap. SponsoredREVEALED: America just unlocked a $500 trillion asset
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Stock No. 4: Alibaba (BABA) — The 40% Discount to Analyst Consensus on a $142 Billion Revenue Business
Earnings date: Thursday, March 19, before market open.
Alibaba is one of the most debated deep-value plays in global tech right now, and the March 19earnings report for FY2026 Q3 is a genuine inflection point. The stock is trading in the range of $130 to $140 as of early March 2026. The average 12-month price target from analysts tracked by TipRanks stands at $197.86, representing a 45.17% premium to recent prices. The consensus rating is Strong Buy. A forward earnings-based fair value estimate from one analyst model puts intrinsic value at $318 per share. That is a wide gap — and wide gaps either mean the market is right and the analysts are wrong, or the market is pricing in a risk premium that a patient investor can exploit.
The fundamentals are not ambiguous. Over the trailing twelve months, Alibaba generated $142.16 billion in revenue and $17.62 billion in profits. Gross margin stands at 41.17%. The trailing P/E is 18.47 times and the EV/EBITDA is 13.15 times. The company has decreased its share count by 3.23% over the past year through buybacks. Cloud revenue has grown above 30% for several consecutive quarters. The Qwen 3.5 AI model released in February 2026 showed competitive performance with global systems. Alibaba plans more than $55 billion in capital expenditure through fiscal year 2028 to build out its AI infrastructure.
The risks are not trivial. A leadership shakeup in the Qwen AI team in early March 2026 added execution uncertainty ahead of this report. Competition with Meituan and JD.com in instant commerce continues to require heavy subsidies and is pressuring margins. U.S.-China trade tensions and AI chip export controls remain an overhang that is impossible to fully quantify. Beijing set its 2026 economic growth target at 4.5% to 5% — its lowest in decades — which has rattled sentiment around Chinese consumer demand. None of these risks are new. The question for the bargain hunter is whether $130 to $140 already prices them in. Given the revenue scale, the buyback program, the AI infrastructure investment, and the consensus upside of 40%-plus, the setup warrants a close look when the numbers land Thursday morning.
Stock No. 5: General Mills (GIS) — A 5.5% Dividend Yield and a P/E of 9.5 Times in a 21-Times Market
Earnings date: Wednesday, March 18, before market open.
General Mills is not a growth stock. It is not trying to be one. What it is, right now, is one of the cheapest large-cap consumer staples names on the board — and it is the kind of stock that tends to get interesting for value investors precisely when the market goes on sale.
The numbers are blunt: GIS trades at a trailing P/E ratio of just 9.47 times earnings, against an S&P 500 forward multiple of approximately 21.5 times. The stock has declined 22% over the past year. The forward dividend yield stands at approximately 5.50% on an annual dividend of $2.44 per share — paid quarterly and supported by a 52.1% payout ratio. The company has increased its dividend for seven consecutive years. Recent analysis indicates the stock may be as much as 57.6% undervalued relative to DCF-based fair value estimates. The 1-year analyst consensus price target sits at $52.58 against a recent price near $44.38.
The challenge for General Mills is volume. The company reduced its fiscal 2026 guidance in February, now expecting organic growth to decline 2% to 3% (a pullback from the previous guidance of down 1% to up 1%), and adjusted operating profit to decline 16% to 20%. In Q2 fiscal 2026, EPS came in at $1.10, beating the $1.02 forecast by 7.84%, with revenue of $4.9 billion topping expectations despite a 7% year-over-year decline. The pet segment (led by the Blue Buffalo brand) remains a genuine bright spot, benefiting from growing pet ownership and the humanization trend in premium pet food. North America Retail, however, is fighting a consumer that is trading down and seeking deals more aggressively.
The Thursday morning print for Q3 fiscal 2026 will be watched for one thing above all others: does management hold the guidance range, or does it guide down again? A second guidance reduction in as many quarters could push the stock lower. A guidance hold — or a beat-and-raise — is the catalyst that closes the valuation gap. With the stock already near 52-week lows of $43.88, the downside from a guidance hold appears limited. For income-oriented bargain hunters, collecting a 5.5% yield while waiting for volume trends to stabilize is not the worst deal in this market. SponsoredIran Desperately Needs This From America
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The Cheap Investor Checklist for This Week
- MU: Watch for Q2 revenue vs. the $18.7 billion guide. Gross margin confirmation at or near the 68% target is the key number.
- MU: Listen for HBM volume commentary and any update on the Idaho and New York fab timelines.
- FIVE: Full-year fiscal 2025 EPS versus the $6.30–$6.35 adjusted guide. Any tariff commentary for fiscal 2026 is the wildcard.
- FIVE: Store opening cadence guidance for fiscal 2026 — this is the growth lever the bulls are betting on.
- DOCU: Revenue growth rate versus the $3.21 billion full-year guide. IAM platform customer count and expansion metrics are the leading indicators.
- DOCU: Free cash flow confirmation. At a sub-9x EV/FCF, any upward revision here is a multiple catalyst.
- BABA: Cloud revenue growth rate. If the above-30% trend holds, it validates the AI infrastructure investment thesis.
- BABA: Any update on Qwen AI team stability and the capex plan through FY2028.
- GIS: Organic growth guidance for fiscal 2026 Q4 and full year. A guidance hold is the binary event.
- GIS: Pet segment performance under the Blue Buffalo brand — this is the only genuine growth vector left in the portfolio right now.
Bottom Line
Five names. Five different stories. One common thread: all of them are priced below where the math says they should be, and all of them have a catalyst landing this week that could start closing that gap.
If Micron confirms its Q2 guidance and updates the HBM roadmap, the AI memory thesis has legs and the multiple expansion argument gets credible. If Five Below delivers clean full-year numbers and tariff-adjusted 2026 guidance, the momentum story keeps running. If DocuSign demonstrates free cash flow durability and IAM platform growth, the market eventually stops treating it like a dying business. If Alibaba shows cloud growth above 30% and management stability, the 40%-plus discount to analyst consensus starts to look indefensible. If General Mills holds its guidance line and the Blue Buffalo segment posts growth, a 9.5x P/E with a 5.5% dividend yield becomes the most boring great deal on the board.
None of these are guaranteed. That is not what we do here. What we do is find situations where the price is cheap relative to the cash flow, the catalyst is real, and the downside has already been priced in by investors who gave up. This week is full of exactly those situations. Do your own diligence. Size appropriately. And watch the tape closely from Tuesday through Thursday.
— The Cheap Investor Editorial Team
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MAJOR BUY ALERT: Mar-a-Lago/Trump/Elon

Editor’s Note: I have a message for you from Louis Navellier at InvestorPlace. I thought you might find it interesting – check it out here or read more below.
– Stephen Prior, Publisher
MAJOR BUY ALERT: Mar-a-Lago/Trump/Elon
Dear Reader,
I recently visited Mar-a-Lago…
And now I’m prepared to put my reputation on the line.
Since 1998, my proprietary system would’ve returned 13,126% in backtests.
(That’s 13X the S&P and 106X the average investor, according to JP Morgan.)
However, one investment I just uncovered could be my biggest winner of all…
It involves President Trump, Elon Musk, trillions of dollars, China…
And a MAJOR upgrade to the artificial intelligence revolution.
If you buy just one stock in 2026, I urge you to make it this one.
Regards,
Louis Navellier
Senior Investment Analyst, InvestorPlace![]()
Monument Traders Alliance, LLC
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Oscars 2026: Should We Even Care?













Mar. 15, 2026 Host Conan O’Brien performs onstage during the 97th Annual Oscars at Dolby Theatre on March 2, 2025. (Kevin Winter/Getty Images) Oscars 2026: Should We Even Care? BY MICHAEL CLARK
It’s up to returning host Conan O’Brien to salvage what will likely be the most divisive ceremony in Oscar history.

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FOOD
How the World’s Best Cheese Is Crowned

FUTURE PLANNING
The 70/20/10 Defense: A ‘Bare-Bones’ Budget Template for 2026 Economic Volatility

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San Diego Beach Is Named No. 1 in the U.S. by Tripadvisor


EPOCH BUY
We Put “Real-Time” Translation Devices to the Test, Only One Worked Without a Hitch
🌾 Tradition: Herakles and the Mares of Diomedes: In the eighth Labor, Herakles confronts a deeper evil—appetites twisted by human cruelty, embodied in the man-eating Mares of Diomedes.
📚 Book Recommendation: In her new book “Preserving With Purpose: Reimagining Buildings for Community Benefit,” architect Amy Hetletvedt makes a passionate argument that saving older buildings represents a victory at aesthetic, economic, and neighborhood pride levels.
Abigail May Alcott — Artist, Traveler, and Sister:The beloved American novel “Little Women” tells of four sisters who grow from childhood into adulthood during the Civil War. Over 150 years after it was written, it remains a compelling, deeply moving account of family life in mid-19th-century America. This portrait of family life is powerful and authentic because it’s real. Read more →
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Wall Street Panics, and Main Street Books Their Cruise Anyway


Wall Street Panics, and Main Street Books Their Cruise Anyway
BY ANDY SWAN, FOUNDER, LIKEFOLIO
Oil prices are spiking. War headlines are everywhere. Travel stocks are getting crushed.
That’s the word on Wall Street.
But Main Street consumers haven’t gotten the memo.
Here at TradeSmith, my brother Landon and I show everyday investors like you where real-world demand is moving before Wall Street catches wind.
By tracking online signals like searches, web visits, and social media chatter, we listen to what consumers are buying, the brands they’re loving, and the trends they’re following next.
Our Social Heat Score distills it all into a 0-100 score. And members of our MegaTrends stock trading advisory get to track those scores on more than 500 stocks inside TradeSmith Finance. The higher the score, the hotter the opportunity.
Right now, that demand data is flashing a surprising signal on a sector Wall Street is fleeing en masse.
I’ll show you that sector today – and the one stock lighting up our Social Heat Score.
But before we get to today’s signal, let me show you something important…
Recommended Link
Is Elon about to trigger another 315X opportunity?
Elon gave Tesla investors the chance to make more than 315 times their money when he revived the electric vehicle industry. $1 billion fund manager Louis Navellier believes Elon’s “Project Apex” will mint a new generation of millionaires. Click here to get the details.
We’ve Seen This Movie Before
The last time we saw a major geopolitical conflict break out, it was February 2022 – when Russia invaded Ukraine.
This happened while the world was still grappling with COVID-19… and slowly but surely reopening.
By June, U.S. inflation was hitting a multi-decade high.
But when we looked at the consumer data, one category stood out.
Consumers were pulling back hard on streaming, apparel, luxury, and appliances. Crypto and banking were the hardest hit, likely due to a worsening crypto bear market and growing mistrust in traditional financial institutions.
Consumers were retreating from nearly every category we track… except two: gambling and hotels.

When the world gets chaotic, people look for an escape… whether that’s by watching sports or just plain getting out of the house after two years of lockdown.
Sports betting had just gone mainstream. And this look at purchase intent showed five gambling stocks suddenly lighting up our Social Heat Score.
We tipped off our MegaTrends subscribers to the opportunity on June 15, 2022. They walked away with an average gain of +84%.

That’s the pattern. When fear spikes, investors rush for the exits. But consumer behavior doesn’t always align with Wall Street expectations.
Now the setup is back:
- Geopolitical conflict
- Spiking oil prices
- Markets gripped by fear
Travel was a big consumer theme in 2022. And it’s emerging once again, with our Social Heat Score lighting up in a specific corner of the sector…
The Escapist Consumer’s 2026 Travel Plan
Airlines and cruise companies live and die by fuel costs. So when the war in Iran sent those costs soaring, travel stocks got punished across the board.

But consumers aren’t blinking at Wall Street’s bearishness on the travel business.
They’re too busy booking their cruises with Norwegian Cruise Line (NCLH).
Norwegian sits in a sweet spot. It’s not an ultra-luxury liner. But it’s not a budget free-for-all like Carnival (CCL), either.
Norwegian attracts the aspirational traveler. The retiree who saved for this trip, planned it for months, and isn’t letting a headline stop them from booking.
That consumer is resilient. They sit on the strong side of the economy, in the upper-middle-class cohort. When prices rise, they don’t cancel vacations. They just keep spending.
And right now, LikeFolio demand data says they’re spending with Norwegian.
The chart below tracks visits to Norwegian’s website – one of our best forward-looking signals for cruise demand.
Those visits are still up +5% year over year, even after the huge Wave Season surge:

If you’ve never heard of Wave Season, think of it like the cruise sector’s “Black Friday,” when prices are the lowest and consumers are most likely to hit that “book” button.
You can see on the chart above exactly where NCLH captured that primetime demand in January.
The key takeaway here: NCLH shares are down sharply in March. But consumer demand hasn’t cracked.
When Wall Street Gets It Wrong
One thing is driving the cruise stocks selloff: oil.
Higher fuel costs squeeze margins. That’s real. But the market is acting like demand is collapsing along with it. And our consumer data says the opposite.
NCLH’s Social Heat Score just jumped to 75.3 out of 100 – a clear bullish signal.

And when Wall Street panics while Main Street keeps spending… I trust Main Street.
Until next time,

Andy Swan
Founder, LikeFolio
P.S. The pattern I showed you today – fear spikes, Wall Street flees, Main Street keeps spending – is exactly what MegaTrends and our proprietary Social Heat Score was built to catch. Consumer data doesn’t lie. And right now, it’s flashing signals in sectors most investors won’t touch.
If you want to track Social Heat Scores on more than 500 stocks and get our next trade alert before Wall Street figures out what consumers already know, join MegaTrends today. The next setup like this won’t wait.