 Dear Reader, June 30. Most investors think that's the target window for the historic $1.75 trillion SpaceX IPO. But they only know half the story. June 30 is actually the deadline for an announcement that could blow the lid off Elon's highly anticipated "Project Unlimited." In short, what I'm calling "Project Unlimited" is Elon Musk's master plan to save the AI industry. But here's the most important part about it … Right now, there is one under-the-radar tech firm that is absolutely essential to Elon's new master plan. They've already shipped 5 billion critical components to SpaceX, making them the absolute linchpin of this operation. And because SpaceX has been private for so long, this partnership has flown almost completely under the radar. But that all ends the moment SpaceX goes public. Once Wall Street analysts start digging into SpaceX's supply chain, I predict this behind-the-scenes partner will be front-page news on CNBC and Bloomberg. That's why you have to position yourself before the IPO frenzy begins. If you wait until the media connects the dots, the chance for life-changing gains could slam shut. Click here to get the name of this "hidden" stock before the June deadline. 
Michael Robinson
Exclusive Content from MarketBeat Media
What's Make of Macy's: Berkshire Hathaway's Latest BuySubmitted by Leo Miller. Date Posted: 6/8/2026. 
Key Points
- Berkshire Hathaway made an unexpected move in Q1 2026 under new CEO Greg Abel, buying into Macy's stock.
- Macy's shares have taken a huge tumble since their peak 11 years ago, losing around half of their value.
- However, Macy's latest results show a company in recovery, with the firm posting a giant beat on adjusted earnings per share.
- Special Report: Before SpaceX goes public, watch this tiny supplier closely
In Q1 2026, investment management behemoth Berkshire Hathaway (NYSE: BRK.B) made a portfolio move that few saw coming. According to its 13F SEC filing, Berkshire opened a new position in Macy’s (NYSE: M), one of the United States' most iconic department stores. While Macy’s has closed many locations since its peak in 2015, the company remains one of the top names in its industry. In fact, in 2024, Macy’s ranked as the world’s largest department store based on sales, with revenue of approximately $23.7 billion.
Still, that would not be immediately apparent from the trajectory of Macy’s stock. Shares are down roughly 50% from their all-time high in 2015. Meanwhile, Macy’s market capitalization has fallen from nearly $25 billion to around $6 billion, erasing about 75% of its value over 11 years. Given the massive shift toward e-commerce, Macy’s has become a stock that few investors would think to consider. However, Berkshire clearly sees something in this retail name, investing $55 million. Let’s break down where Macy’s has been and where it stands today to better understand why Berkshire sees value in the stock. Macy’s Fall From Grace: Stores, Revenue, and Margins SinkAs noted, Macy’s has seen a significant decline in its store count over the past decade or so. In 2016, Macy’s operated more than 850 total stores. That included over 700 Macy’s-branded locations, more than 50 Bloomingdale’s stores, and over 70 Bluemercury stores. Today, the total store count has fallen to fewer than 675. Most of that decline has come from Macy’s-branded stores, which now number fewer than 450. Meanwhile, Bloomingdale’s and Bluemercury have actually expanded, with store counts of over 60 and 150, respectively. Revenue over the last 12 months came in at $22.7 billion, down meaningfully from 2024 and roughly 19% below its calendar 2014 peak of $28.1 billion. Macy’s operating margin hit a thin 2.3% in its latest quarter, well below its level of more than 6% in the comparable quarter of 2014. Considering these metrics, it becomes much clearer why Macy’s market capitalization has fallen so sharply. However, looking at a shorter timeline, Macy’s has shown improvement in its business, as demonstrated by its recently released earnings report. Macy’s Posts Huge Adjusted EPS Beat, Raises GuidanceMacy’s reported its Q1 2026 earnings in early June, delivering solid results on several fronts. (Note that the firm’s fiscal reporting period is slightly behind the calendar period.) The company posted revenue of $4.89 billion, an increase of 1.8% year over year (YOY) and significantly above estimates of $4.61 billion. Adjusted earnings per share (EPS) rose 18% YOY to 13 cents, dramatically better than anticipated. Analysts expected adjusted EPS of just 2 cents, implying an 82% YOY decline. The company attributed the outperformance to sales growth that far exceeded expectations. Comparable sales, which eliminate the effect of store count changes, rose 3% YOY, marking the strongest growth since 2022. That compared with Macy’s comparable sales guidance of 0.5% to 1.5% and growth of -2% a year ago. Additionally, Macy’s achieved its sizable adjusted EPS beat despite a 4-cent tariff headwind. Macy’s also raised its guidance for the full year. The company now expects midpoint comparable sales growth of 0.85%, compared with 0% previously. Its midpoint adjusted EPS guidance now stands at $2.10, up from $2.00. The updated adjusted EPS guidance implies a YOY decline of 9.5%. One of Macy’s key initiatives is to revamp its Macy’s-branded stores. This comes as luxury brands Bloomingdale’s and Bluemercury are growing much faster, with comparable sales rising 10.2% YOY and 6.4% YOY, respectively. Meanwhile, Macy’s-branded comparable sales increased just 1.6% YOY. To address this, the company is improving Macy’s stores through its “Reimagine” initiative. Reimagine upgrades include changes to the mix of merchandise and visual marketing within the stores. The 200 Macy’s locations that have already undergone Reimagine improvements showed better comparable sales growth of 2.4%, suggesting the strategy is starting to pay off. Macy’s: A Recovering Company With a Lot Left to ProveOverall, there are clear reasons why Macy’s would be attractive to Berkshire. While the company has struggled mightily over the past decade, its recent improvements are real. Still, it is worth noting that Berkshire is not making a big bet on this stock. At $55 million, the position represents a tiny fraction of the firm’s overall equity portfolio of more than $250 billion. If Macy’s continues to make progress on its recovery, Berkshire could increase its position over time. Notably, Wall Street analysts are not overly optimistic. The MarketBeat consensus price target of $20.30 implies around 10% downside in shares. The average of two targets updated after the firm’s report is $25, implying moderate upside.
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