Happy Wednesday Zingernation! The stock market is kinda like a high-stakes version of Tinder– either you’re hot or you’re not. And when you’re hot, everyone’s swiping right, even Goldman Sachs.

-Aaron Bry and Nic Chahine

Plus, if you’re looking to take your options trading to the next level, check out today’s partner.

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MARKET SNAPSHOT

Yesterday: Yawn. Boring day as stocks bounced around a little bit only to end the day pretty flat.

On Our Radar: Wholesale inventory numbers are out at 10 AM, and then we’ll hear from a few Fed officials throughout the day. Also expect earnings reports from companies like Uber, ARM, and Affirm.

Plus: Looking to learn more about options? Join options master Nic Chahine TONIGHT at 6:00 PM ET! Click here to claim your free ticket.

TOP STORY

Elon Musk Isn't Sure Apple Showed Its Entire $30B R&D Prowess With New iPads

In Short: After Apple launched its new iPad Air 6 and iPad Pro models yesterday, Tesla and SpaceX CEO Elon Musk raised questions about the tech giant's huge research and development investment.

What Happened: Musk took to X, formerly Twitter, and responded to a meme comparing Apple’s $30 billion R&D spend in 2023 to the marginal improvement in the thickness of its new 11-inch iPad Pro.

Basically: The meme was captioned “How It Started” vs “How It’s Going.” In response, the tech billionaire said that considering it was a lot of money that was invested in R&D, the Tim Cook-led company might be working on some "secret products."

Why It Matters: This isn't the first time Apple's substantial R&D investment caught Musk's attention. In January Tesla investor Sawyer Meritt highlighted that while the EV giant spent almost $4 billion in FY23, Apple and Microsoft invested $29.92 billion and $27.2 billion, respectively. Musk pointed out that “there are gigantic differences in the effectiveness of R&D spending between companies.”

Click here for the full scoop.

PRESENTED BY CBOE

FIVE ZINGERS

To Infinity And Beyond: Virgin Galactic, Richard Branson’s space travel company, reported better-than-expected earnings, but the stock slipped.

Who Let The Hawks Out: Hawkish talk from Fed officials yesterday wasn’t enough to bring the market into the red. Here’s what happened.

r/TimeManagement: Reddit’s CEO took some time on Tuesday to discuss effective productivity tips, and what founders sometimes do wrong.

Buffett’s Baby: $OXY, one of Buffett’s top holdings, reported earnings yesterday after the close. Here’s how the company’s doing.

Trade Like The Best: Billionaire hedge funder Stanley Druckenmiller shared some advice on how to trade like the big dogs. 

ONE FOR THE ROAD

Estimates And Expectations For AMC Q1 Earnings

Some Context: Movie theater operator AMC Entertainment Holdings will report first-quarter financial results after market close today.

Zooming In: Analysts expect AMC to report first-quarter revenue of $871 million, according to data from Benzinga Pro. The company reported revenue of $954.4 million in last year's first quarter. AMC has beaten revenue estimates from analysts for 11 straight quarters.

Lower Bar: The $871 million estimate would mark the lowest quarterly revenue for AMC since the first quarter of 2022. Analysts expect AMC to report a loss of 79 cents per share in the first quarter, compared to a loss of $1.30 in last year's first quarter.

Looking Ahead: The company is optimistic for the second half of the year. However, AMC expressed concerns that the Hollywood Strikes from 2023 would continue to impact the second-quarter box office.

Click here to read more.

PRESENTED BY CBOE

One Recent AI Development You NEED to Hear About

There's been a lot of buzz surrounding AI over the past year…

Most of it is just hype and speculation.

But there's one recent AI development you NEED to hear about...

Because it's going to have a very real impact on the lives of everyday Americans...

Billion-dollar fund manager Louis Navellier recently recorded an urgent message going over all the details.

Click here to see Louis' new video for yourself.