Louis Navellier says oil price drop hides bigger opportunity

Earnings announcements are still driving stock prices higher. According to the Iranian Revolutionary Guards Corps (IRGC), the possibility of a return to war with the U.S. was "low," which sent crude oil prices plunging. Nonetheless, I am adding more energy companies since their forecasted sales and earnings remain strong. Some of the energy stocks in our portfolio are Canadian Natural Resources Ltd (CNQ), Cenovus Energy Inc (CVE), Suncor Energy Inc (SU) and BP plc (BP). There is also no doubt that my big bet in tanker stocks remains safe, due to longer shipping routes as well as the bottleneck in the Strait of Hormuz. Ardmore Shipping Corp (ASC), Okeanis Eco Tankers Corp (ECO), International Seaways Inc (INSW), Scorpio Tankers Inc (STNG) and Tsakos Energy Navigation Ltd (TEN) are some of the oil tanker stocks in our portfolio. We also have the LNG tanker Dorian LPG Ltd (LPG). Worldwide demand for crude oil prices typically declines in the fall, so I do expect crude oil prices to moderate no later than October. In the meantime, we have a nice window to reap record profits from tanker and other energy-related stocks. Elbit Systems rides order backlog Earnings announcements are still driving stocks higher. As an example, Elbit Systems (ESLT) announced that its first-quarter revenue rose 15.5% to $2.189 billion compared to $1.896 billion in the same quarter a year ago. The analyst community was expecting revenue of $2.137 billion and operating earnings of $3.44 per share, so the company posted a 2.4% revenue surprise and a 12.5% earnings surprise. I should add that Elbit Systems' order backlog continues to grow, which ensures more positive results in the upcoming quarters. Micron Technology eclipses major milestone Another stock benefiting is Micron Technology (MU), which crossed over $1 trillion in market capitalization and is surging before its upcoming earnings announcement after the analyst community revised its price targets higher. In fact, UBS is also anticipating tremendous appreciation for Micron Technology based on raising its MU price target from $535 to $1,625 per share. President Trump has praised Micron Technology for expanding its production in the U.S. Furthermore, it was also disclosed that President Trump has personally invested in Micron Technology. Detroit Goliath Ford joins AI party Meanwhile, a surprising AI-related play is Ford (F). Specifically, Ford announced a new energy storage subsidiary, namely Ford Energy, which is using batteries for energy storage systems for AI data centers, utilities, and large industrial customers. Ford has an alliance with China's CATL, so it is using iron phosphate (LFP) batteries for energy storage. Ever since the tragic battery fire at PG&E's Moss Landing facility, which deposited cobalt in rich agricultural fields where strawberries and artichokes are grown, there has been a big push to replace lithium phosphate energy storage batteries with LFP batteries that are much less likely to catch on fire. So essentially, Ford Energy is now competing with Tesla for LFP battery storage.