Trump Gives A FINAL Iran Deadline, SpaceX Is READY To Go Public, Oil Isn't Falling Yet | Daily Recap

Amit Kukreja•Aug 9, 2026

Summary

Amit provides a comprehensive analysis of the equity markets, focusing on the geopolitical standoff between the United States and Iran. Amit notes that Donald Trump has set a Tuesday 8:00 p.m. deadline for a resolution, threatening military action against Iranian energy infrastructure if a deal is not reached. Amit observes that while oil prices have surged above $110, the S&P 500 remains resilient, suggesting that the market may be calling Trump’s bluff or anticipating a 45-day ceasefire. Amit warns that if military escalation occurs, the "buy the dip" strategy may be risky due to further spikes in fuel costs and potential retaliatory strikes on regional energy assets.

On the fundamental side, Amit highlights a disconnect between rising earnings expectations and the downward trend of the S&P 500 index. Amit points out that the 2026 earnings per share (EPS) estimate for the S&P 500 is $323; applying a 24x multiple would suggest a price target of 7,700, though the index currently trades closer to a 20x multiple. Amit notes that American tech stocks are currently trading at lower PEG ratios than many European companies, which Amit views as a sign that they are oversold. Amit also discusses the private market, contrasting the $2 trillion valuation of SpaceX with public companies like Meta and Microsoft, suggesting that public markets may offer better value.

Regarding specific stocks and sectors:

Nvidia (NVDA): Amit highlights that Nvidia is trading at approximately 19 times earnings despite experiencing 50% EPS growth. Amit argues that this valuation is remarkably low given the company's dominant position in the AI sector. Amit suggests that Nvidia is currently undervalued relative to its growth prospects and the high valuations seen in private AI firms.

Rocket Lab (RKLB): Amit explicitly mentions buying shares of Rocket Lab yesterday at price points of 65.80 or 67.80. Amit views the company as a strategic proxy to gain exposure to the space industry ahead of the anticipated SpaceX IPO. Amit acknowledges that while the sector's unit economics are still developing, Rocket Lab offers a way to participate in the commercial space thematic.

Meta (META): Amit observes that Meta is trading at 18 times earnings with a revenue growth rate of 33%. Amit asserts that the stock is significantly discounted, especially when compared to the aggressive valuations of private companies like OpenAI. Amit believes Meta represents a strong opportunity for investors looking for growth at a reasonable price.

Microsoft (MSFT): Amit notes that Microsoft trades at 22 times earnings and holds a massive potential stake in OpenAI. Amit explains that a $13 billion investment could result in a $220 billion position upon OpenAI's public debut. Amit views Microsoft as a foundational AI play that remains attractive at its current multiple.

Delta Airlines (DAL): Amit points out that Delta has outperformed the broader airline sector, which has been decimated by fuel costs. Amit attributes this to Delta owning its own refinery, allowing the stock to stay down only 3% year-to-date while competitors like United and American are down 20%. Amit uses Delta as an example of how vertical integration can protect a company from energy price shocks.

Mentioned Stocks

RKLB

Sentiment: BUYAction: BOUGHT

Reasoning: Amit explicitly stated that Amit bought Rocket Lab yesterday at price entry points of 65.80 or 67.80. Amit views this as a proxy for the space sector and a way to gain exposure to the industry ahead of the SpaceX IPO, despite acknowledging that unit economics in the space sector are not yet mature.

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