Investor's Edge with Gary Kaltbaum - OPEN AI [04.28.2026]

Episode Date: April 28, 2026

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Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum, your host. A thanks of being with us today. Glad you here, ladies and gentlemen. Happy that you are listening.

It is Tuesday, the 28th of April, 2006. Hope you're having a good day. I just want to let you know from the outset of the show. show, I will answer the 300 emails I got today. What's going on with Open AI before I introduce us and all that? Open AI is, how would I would call it the mothership, the place where everything meets the entity that everybody is so dependent on with the debt and the spending and the growth and what's going to happen in years from now. If you Google it, this is what it says.

Is an AI research and deployment company founded in 2015 with the goal of developing safe and beneficial, artificial general intent? Blah, blah, blah, blah, blah, blah. You can go read about it. The story today in the Wall Street Journal that they have missed key revenue targets, and I'm just reading it, and they want to go do an IPO soon.

They're saying that they miss their own targets for new users and revenue, stumbles that have raised concern among some company, leaders about whether we be able to support its massive spending on data centers. Just so you know, every day we're hearing about, oh, Amazon's going to invest, this billions in them, this companies, this billions in them, this billions in them. And when we talk about this whole thing about back and forth financing, oh, you invest in us and we'll buy your stuff, we're talking kind of ground zero here. So what ended up?

happening today the usual suspects in artificial intelligence and all that crap the word hammered I don't know if that's the word considering the move they have just had over the last couple of weeks but just throw in examples out for you a symbol light down 68 sand this down 67 and by the way, some of these are high price. KLAC down 91. This is an equipment semi-ASML 47, Amat 24. By the way, we're talking about 4, 5, 6% moves in these things. Monolithic power down 83 bucks today.

I can go on and on and on. It was gross. but when I already did webcasts for the peeps, we found a few things breaking down, few things going by the wayside, but most everything is just stocks that kind of sort of went vertical and needed to pull back, and this is the excuse. Now, I will tell you, it got defended like there's no tomorrow today,

both from the company as well as the pundits. and we'll see what happens. In the middle of earnings season. And I can tell you we had a ton of earnings today. You had some blow-ups. But let me repeat. The most of the damage was in semis in the AI spectrum. But that's where some good moves were to be.

had and now we would get earnings reported and we'll see what companies are able to do. I can tell you in the, for example, what's already happening in the aftermarket, you got Seagate. Stocks had a good move. It closed at 579 down 17. It's up 20 in the aftermarket. They reported earnings probably pretty good. And that's what we're going to be watching. for. Today, very bad action in Corning, got hit on earnings. Celestica got hit on earnings. On the good side. New Corps

in steel. Good day. Coke was up, not much. It's not a big mover. Sanmina. Accelerating numbers. Good day. By the way, Seagate now is up. 10 for the day after being down 17. It's up 27 bucks in the aftermarket. That's pretty damn good. And we'll see what the numbers were.

That won't hurt as we go into tomorrow. But I got news for you tomorrow. Google Amazon, Meta, Microsoft for the top seven. But also KLAC, Qualcomm, Ford, eBay, Chipotle Cheesecake Factory I can go on and on and on By the way Seagate now

Closed at 579 It's 626 bucks in the aftermarket Up 46 make that 632 It's up 34 Wow It's up 55 bucks in the aftermarket That'll change the playing field tomorrow Damn

Look at that in real time Looking to see what their numbers were and you know what? I don't even see them reporting yet. Oh, there you go. Sees $4.80 to $520 versus $3.99 consensus. They're just raising guidance. They came in at 410 estimates with 351. And they're just jamming the living heck out of which means Western Digital be up.

And I gather the semis will be better going into tomorrow off of that. maybe we'll see so sea gate no effect by the way it's now 67 it's up 10% in the after market on that damn

and Starbucks is up anyway I'm Gary Colpom this is Investors Edge serious talk on everything affects you we'll do the markets the economy your job your industry war tariffs oil prices

have you noticed you're not hearing anything on Iran now Do you see that? Do you see what the president's done? I think it's now the wait out. W-A-I-T-out. I think that the longer he weights it out, the tougher it's going to be for Iran,

because they have to put things in storage. We'll see. The only problem is oil was up another three and a half bucks today. That's the only problem. And I don't care what anybody tells you, that's a problem. I heard some doofus on TV today say, it's okay. Yeah, tell that to Aunt Mary and Uncle Bob that are paying an extra 40 bucks at the pump. It's amazing some of the crap out of people's mouths. I have news for you. Gas prices hit L.E. high today across the country. And oil prices are back near the highs.

Today, as I have said to you with no bias, complete miscalculation by us on the capabilities and the abilities sweated out by Iran. Complete miscalculation. And when the president says, yeah, we knew that it would go up this high. In fact, I thought the oil prices would go up higher. That's a lie. They're sweating it right now, I can promise you. So let's keep fingers crossed.

We don't want oil prices up here. I can promise you that. The greatness of our economy, we will eventually get used to it, but on an individual basis in families, very tough to get used to. Very, very tough. and that's a little bit of that as we move again we're not hearing much now on irons like it's not even happening anymore it's not even being talked about too much ain't that interesting but i repeat

oil prices that is not good news do not forget how many things are made with petroleum and there's a reason why airlines and cruise lines and hotels stocks right now are not in good and retail stocks. Not in good shape. Up next. We'll finish our introductions, and what else going on out there? I'm Gary.

This is the one-only Investors Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people. We manage investors' money for a living, specializing in fee-based discretionary money management. No big commissions, just a fee on the assets that's managed. We also provide a full range of personalized services

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That's 888422-5-5-9. That's 888-4-22-5-5-9. Investment Advisory Services offered through Coltbaum Capital Management. It's time to switch on the integrator units and get the brain cells working. You're listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality programming.

With Gary Coltbaum. It doesn't get better than this. And welcome once again to Investors' Edge. So Starbucks beat by 7 cents. Global comparable sales up 6.2. That's better than expected. And of course, they need to thank me because I'm pretty much Starbucks every day.

And I shouldn't be. But I am. But the big story for tomorrow will be Seagate. And I gather that is going to help out some things that were hit hard today. Seagate and Western Digital for starters, but some of the other things will probably have a good morning tomorrow. What's their attachment? Oh, Micron. That'll be helped tomorrow.

Visa beat. Let's see what's going on there. That's up $10 and that's in the Dow. Stock's been dead. Greatest bookie, they're bookies, the credit card companies, greatest bookies. So you've got some decent reports after the close. today. But we are in the midst of everything as we move forward. That's the big story. And if you want to know more, go just read up Open AI. The people that doubt it, the people

that are very worried about it are worried about the things like Oracle. The stock's been more than cut in half, tied to open AI and debt to do all these things. And there's worry that there's just no way. There's no shape, no form that these numbers can be produced. We'll see. I'm open to every and all outcomes. Every and all outcomes. There are some people out there that are absolutely positively comparing it to 99. I'm not there. I'm not there. 1999 saw a lot of no-sale stuff. And while we've had a lot of no-sale stuff recently, we've highlighted it. They really have not big effect on the market. Oh, by the way, Rambis was down 30 bucks in the semiconductors today. That's another one that got blasted. And I got booking holdings blasted in

the after hours and that's not going to help with Expedia. Oh, and NXP Semiconductor Beat, so that's up pretty decently. Look at me reporting the news to you. Anything else shows up, I'll let you know. Blowing up today, Sherwin Williams in the Dow also. Cadence Design, CDNS got hit, but not, you know, just a lot of extended pullbacks. There's still plenty of areas.

Let me repeat. I do not like the way retail is acting. Housing still. The transports away from simple C-A-R. They act pretty good. I don't like travel-related. I don't like consumer staples. They bounced a little bit today.

And a lot what we call in the markets. Mixed bags. not bull nor bear but in the midst there's a lot of that going on but back to what we said earlier there's a crap load of earnings reports coming out now

and you got four monsters tomorrow and one monster Thursday and that'll dictate a little bit we think son of a gun sea gate is now up 52 bucks on the day and it was down 16. So it's up 69 bucks in the aftermarket, 11%. That is ill. And it's helping Western Digital also. Western Digital closed down today. 10, it's up 27 in the

aftermarket. Wow. We have seen so many stocks up big and down big. Unbelievable. got to hand it to them. Got to hand it to them. So the articles in the Wall Street Journal and Open AI, you can go read about it. Let me be clear about something. If they fail, there's a hell of a lot of areas that fail. Just letting you know, if they fail, there's going to be a lot of stocks failing and a lot of debt exploding. That's an if.

Did I scare you? We deal in reality here. If they fail. In the markets. In the news. Do you know California looks like they're going to be able to pass this wealth tax? It's for 200 people that are worth more than a billion dollars in California. They're saying it's a one-time 5% wealth tax.

And I guess they're allowed to pay it over maybe two or three years. I haven't looked, but I gather this probably some exemptions. Guess what they're finding out? They lied. In the fine print, it's not a one-time. In fact, in the fine print, it gives them a right to make it more than one-time. And you know what Marxists and communists like and what they do? They will, without a doubt, try to do more.

And without a doubt, those 200 that are worth more than a billion are going to tell California to go take a flying leap. And by the way, I believe it's the money above a billion. So if you're worth $2 billion, you're giving them $50 million. Just cutting them a check for $50 million. You think people are going to do that? Or do you think they're going to be? What's near California?

Oh, that's right, Arizona. Oh, Utah. They're insane. But the people voted for it. I'm very careful about ripping on people. But they're idiots. Up next. More on that.

Other things going on. This is the one only Investor's Edge. We're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy.

With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. By the way, Sergey Brin, worth $250 billion, a founder who Google just left California. They lost $250 billion man.

Why? 5%. Why? The people voted for it. And they just lost a major, major, major person. The language allows future lawmakers to address the threshold. to lower than the billionaire and the minimum or maximum. A bunch of schmucks. It's amazing. It's amazing.

It's amazing. Speaking of amazing, again, as you know, we have no agenda, ulterior motive, and bias. We've had this motto for a very long time because they have earned it. They all suck. They meaning both parties, all the politicians. I can single out maybe one or two that I like that are still there. The ballroom.

Ladies and gentlemen, the ballroom. We were told by our president it's being paid for with donor money. Do you remember that? You care about your tax dollars, right? and you were told by the president, and when you hear something from the president in the United States, it should be the emmiss. You know what the emiss is, the truth.

You should not have to worry about it because it's the truth. It came from the president that not one tax dollar going to pay for the ballroom. In fact, the president told us that they already collected all this money. The Republicans are now out and they are going to put up a bill for $400 million for the new ballroom. And they're using the bull crap excuse. It's for security because of what happened at the Hilton. So I just want to let you know, the Republicans lied to you from the top down, another middle finger to your tax dollars, each and every one of you. Enjoy. 400 million

bucks for a ballroom next to the White House. And by the way, that event could not be held at the ballroom or at the White House. It was not a White House function. Comes under the heading again, They just hate us. They're just con artists. They don't give a crap. And that's that. And by the way, you got to hand it to this administration. They do it all in plain sight.

They do it all in plain sight. Ha ha. In other news, as I mentioned earlier, the average cost for a gallon of regular gas is $4.18 today, according to the AAA Motor Club. This is the highest level now in four years. And that is what, singularly,

singularly why the president's poll numbers just worsened by the day. Because he gets, unfortunately for him, the full blame, because oil prices are up because of one reason what's happening in the Middle East.

And I must state for the record, as I do my studies of what happens when we get out of there. Studies. I think it's going to take a while to get back down. That would be a good guess. It's not going to be as easy. So unfortunately, that was in the news today.

Also. Yay. Also in the news? Well, I'm still waiting. The Phillies fired their baseball coach. I'm waiting on the Mets. Just letting you know. Oh, lastly, the Department of Justice, otherwise known as the Department of Trump Justice.

They are indicting Comey again for the second time. And the reason why is because he sent out a photo. He was walking on the beach and he saw somebody put in Shelmy. 86-47. Just so you know, 86 means get rid of, 47 would mean the president. And they're claiming that is inciting, whatever. So the retribution and the revenge tour continues. We'll see where this one lasts. Do not forget Comey went after Trump. The Biden Justice Department was just as bad. They went after. the Trump with a vengeance. They were so afraid of him. And some of the things they went after

were laughable. My favorite one is when they said Moralaga was worth a pittance compared to what it's really worth. The saying Trump lied about that. That's total horse crap. So as you see, when we say we can't stand any of them, it's both sides that are doing it now. Just remember, we're just spectators. We're just marks. They're the cons. What more can we do? But back on the markets!

I'm just impressed with Seagate after the close. I mean a monster move, which is affecting Western Digital. I got a few more NXP semiconductor, a big gap to the upside also. I got F5 networks, a big gap to the upside. Starbucks is not a big gap, but good enough. It's up a few percent. Visa, as I mentioned, is up about 4%. Symbol B.E., that's that Bloom Energy.

226 to 247 will take it. But Robin Hood is getting squashed. Booking Holdings is getting squashed. And I have to check the rest. A lot of jello moving on the plate, ladies and gentlemen. And we're in the midst. tomorrow when we do the show we'll be reporting to you again

Amazon Meta Microsoft eBay Google And by the way There's a crap load more than that But that's the big stuff

Qualcomm did I say that We're in the midst But I got to tell you if we get reactions Like Seagate Holy smokes That is a gargantuan move. I'm just looking at it, by the way.

Rates a big wow. And by the way, that was the news of the day. The King of England was here. Did a 20-minute speech. And did it in the house. Very well accepted. The Prime Minister of England is a yachts.

And I'm surprised he's still got his job. I do believe he should be out. We'll see how that plays out. The president is still yelling and screaming at NATO and the rest of Europe for doing nothing with Iran. I think he's got a little bit of a point, even though, you know, he did everything to piss them off. I think he's got a decent point in there. Decent point. In the Dow, good reaction to you. Health, I just don't touch the group. I very rarely touch hospitals and manage care because if you get one announcement that the 3.5% adjustment to what they get paid is only going to be

two. They'll gap those suckers down 15% overnight. Whenever government is so involved, I always worry. I always worry. because you just don't know what's next. Very tough. Up next, some of the other things you're asking about. That's up next on Investor's Edge. You're listening to. What are we waiting for?

Well, what are you waiting for? One, two, ready, go. Investers Edge. With Gary Culper. Dun-da-da. All right, a few other things. Anybody know who Paul Tudor Jones is? One of the preeminent hedge fund guys was on the 87.

He thinks the market now is indicative of the year 2000. Just letting you know, it doesn't mean he's going to be right. There's an hour interview that he did that I'm going to be watching tonight. Some of the things he said, listen carefully, the U.S. now, is more dependent on stock equity, he said, but stock prices than ever. He says we're 252% of stock market cap the GDP. In 29, we're only 65% in 2000. We were between 85 and 90.

So the economy is too dependent on the market. He says we get a mean reversion about every 10 years. This is him. say mean revert to the past 25 or 30 year price earnings multiple, that would be a 30 to 35% decline. A 35% decline on 250% of GDP, which I said to you, is 80 to 90% of GDP. 10% of our tax revenues are capital gains. That would go to zero. That means the budget deficit will blow up even more, which would have a

marked impact on the bond market. And he said the bond market getting smoked. He says we're over-equitized as a country. We have the highest individual equity weightings in the history of the country. And he says the real problem, though, is the private equity. And we've talked about that a lot to you here. In 2007, 2008, when everything blew up, it was 7% of the institutional portfolio. Now it's 16%.

He said we're much more illiquid than we were back then. And what does that mean? You just can't sell that private equity stuff. You have to find buyers. He goes on to say if you buy the S&P at this current valuation, and this is him talking, the 10-year forward return is negative when you buy the S&P with a P.E. of 22.

That's what history shows. That's his quote. So yes, the S&P is spectacular long term if you have a hundred year view. But that's because that's an average of 100 years, including times when the S&P's price earnings was six, seven, or eight. He goes on to say valuation matters a lot and the stock market's really high and it's going to be really hard to make money from here with any kind of long term view. not in the short run. If you own Seagate, you're a happy camper overnight, for example. So just let you know, I'm going to be watching that tonight.

It's about an hour interview. As we tell you, we don't really follow many. He's one we follow. But we'll always let the market decide, I can promise you that. A few other things today. Spotify down 60 bucks, that just stock is completely blown up. Completely blown up. I wonder if it's the competitive thing there.

I'm not sure. Gold, silver. As you know, back in February, we thought it was the blowing off top, especially silver. And what we said to you is we spec that high to not be taken out any time soon. These are exact words It's exactly what's happened And often blow off tops It takes months

And that's what's happened We'll let you know when that changes We do think the GLD at 400 Pretty darn good low But boy do we just hit overhead resistance at 450 And silver is much weaker than gold So just letting you know, no reason to add any commitments to gold and silver right now.

They had a very good run. We are not saying the bull market is over. We're saying for now they've had a very good run and a top of some consequences in. If that changes, we'll let you know. That's that. On the crypto, it's bounced a little bit. Can't go further than that. If there's anything redeeming, it's trading back a little bit above the 50-day moving average.

You have one stair step to the upside, so we'll give it that. But the calls for 150,000 in Bitcoin at the end of December, they were wrong. January, they were wrong. Now they've changed their mind, 150,000 by the end of 26. Maybe they'll be right. we're always wary about people that call for 100% gains within months, let alone, you know, the call for 1.5 million by 2030 by a certain woman. We'll leave it at that. So not much going on there either. So again, we just think no reason for new commitments for those areas. and we'll let you know if we think they're going to go deeper into the abyss.

If GLD took out 400, that would be of note. If SLV took out 60, that would be of note. That would tell me the bearish phase of unknown price in time will go deeper into the bearish phase. Those are the areas. If you're a long-term holder, I don't think there's any risk. reason to sell at this juncture. But if those numbers are taken out, that would be one hell of a sell signal. But as always, it's your money. You get to decide. We don't tell you what to do. And by the way, we're asked a lot about gold and silver. You know why? Because people were in it

and they haven't sold. And they watched the drop. Silver's gone from the SLV 110 to 66. GLD, not nearly as close. 510 to 422. They're looking for me to say it's going back up. Maybe one day. You'll have a great evening. Drive carefully when you get home.

Do like we do. Make sure you hug your family and hug your children. They will feel better. You will feel better. I promise stay well, be well. Thanks for joining. Have a great evening. Bye bye-bye.

This has been Investors' Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryKK dot com.