This week, I’m tackling some big questions.

From the chances of a market correction… to why I still believe in Uber’s long-term AV opportunity… to whether defense stocks like RTX still have room to run… and why I’m avoiding certain AI winners despite remaining bullish on the broader trend.

Let’s get into it.

I have heard from several people that we are due for a big correction. At the same time, I’ve also heard that we’re in for a big rally. But I don’t really know which is true. – Zeal

Great question, Zeal. For every person screaming that a massive correction is coming, there’s someone else convinced we’re headed much higher.

Us here on James Altucher’s team believe the AI buildout is very real and likely to continue for years to come. Companies are still pouring enormous amounts of money into chips, data centers, robotics, etc.

That doesn’t mean stocks can’t correct along the way. They absolutely can and likely will.

But I believe the overall trend is still higher for the foreseeable future.

Regardless, the key is always to invest in the best companies at reasonable valuations… rather than trying to perfectly predict the next market move.

I am a bit surprised no one at Paradigm has talked about the legacy company Corning (GLW). They've earned solid agreements with NVIDIA, and their fiber optics are making inroads into the copper business for data centers. Can you give us your opinion of their growth and potential? – Derrick

GLW is undoubtedly a winner of the AI buildout. The company is becoming increasingly important to the data center ecosystem as demand for fiber optics and high-speed connectivity continues to surge.

That said, the stock is simply too expensive for my style of investing.

GLW currently trades around 95x trailing earnings and roughly 47x estimated 2027 earnings. That’s a very aggressive valuation for a legacy industrial company – even one benefiting from AI tailwinds.

Could the stock continue moving higher? Absolutely.

As the AI buildout continues, the rising tide will likely keep lifting companies like Corning.

But personally, I’d rather play that same trend through companies trading at more reasonable valuations with larger potential upside.

Will stocks like RTX Corporation (RTX) or Lockheed Martin (LMT) go up due to government contracts? "Raytheon partners with the Department of War on five landmark agreements to expand critical munition production." – Zeal

Yes! Companies like RTX and LMT can absolutely benefit from large government contracts. Contracts translate into earnings, which ultimately guide stock prices.

That said, there are a few important caveats.

Markets often price in these contracts before retail investors hear about them. And defense stocks are still tied to broader market sentiment and valuations.

Interestingly, RTX actually looks attractive here after pulling back since the Iran war began.

Earnings expectations are rising and the stock now trades at just 23X 2027 estimates.

Hello Davis, do you have any recommendations for the best way for newer investors to track their portfolios? Is there a good tracker program? Is it best to make a spreadsheet? Physical folder? – John

Hi, John. Honestly, most investors simply track everything directly through their brokerage website or app these days.

And for newer investors, that’s usually the best place to start.

If you’ve got multiple brokerage accounts, that can complicate things a bit.

But personally, I still think monitoring a few brokerage apps that automatically update themselves is far easier than constantly maintaining a spreadsheet or physical folder by hand.

Why do you own Fannie but not Freddie? – Charles

Thanks for the question, Charles. Fannie Mae and Freddie Mac are very similar businesses with a few key differences.

Those differences aren’t material to my investment decision.

I chose Fannie because it’s the larger of the two plus it’s got greater trading volume – important for an over-the-counter stock.

My conservatorship thesis, however, applies to both so the two stocks will likely continue moving together.

I shared your enthusiasm for Uber but am getting antsy as the possibilities for Waymo and Tesla to go their own way and leave out Uber. If these two companies partner with Uber, the stock will surely pop. If they don’t, the stock will likely drop. – Joe

Great point, Joe. I still believe UBER is ultimately a winner of the AV transition.

Whether consumers are riding with Waymo vehicles, Tesla vehicles, or something else entirely, I think there’s a strong chance many of those rides still get booked through Uber’s platform.

And importantly, the valuation is extremely reasonable for a company with Uber’s scale, growth profile, and potential upside from autonomous vehicles.

There will absolutely be volatility and partnership headlines along the way. But overall, I’d stick with Uber here.

Important Update: Follow The Million Mission on Twitter/X

Big news: I just launched a Twitter/X account so you can follow along with The Million Mission in real time. If you want quicker insights, early reactions to breaking news, and a closer look at how I’m navigating the road to $1 million – this is where I’ll be.

Come hang out, ask questions, and follow the Mission as it happens @DavisPWilson.

Another Important Update: The Million Mission website is live!

I’ve gotten plenty of feedback regarding where to find previous alerts. Well, The Million Mission website is finally live and you can check out archived alerts here.

Portfolio Overview

Here’s what I’m currently holding in The Million Mission portfolio:

Fannie Mae (FNMA) – 2,500 shares @ $7.25/share

Uber Technologies (UBER) – 200 shares @ $80/share

Nvidia (NVDA) – 200 shares @ $179/share

Special Shoutouts

Thank you to those who emailed in kind words and thoughtful comments.

Thanks for being along for the Mission.

Please keep the emails coming.

Talk to you on Monday.