Strategist says investors should consider moving past US names in AI sector

Closing bell, we are 4 minutes away. NASDAQ the big winner on the session on its way to a second straight day of gains. I mean big. What do we have? We have just a half a percent gain here for the NASDAQ. S&P is also trying for a 2 day win streak, up about 11 points. The Dow gaining just a fraction. Now looking for its sixth session of gains over the last 7. And we got a big earnings report after the close. The quarterly results from semiconductor company Micron. Now shares had dipped earlier into the red, back in the green. At the moment, we have them up just under 1%. Ahead of the report, Wall Street is expecting the American chip manufacturer reporting an EPS of $0.51 a share on revenue of $6.67 billion. We know that American chip companies led by NVIDIA have been dominating the space right now. But our countdown closer says, you know what, we're overdue for a period of non-us stock leadership. But he loves the chip makers and the chip related makers. So why not get into an ETF that's got foreign names of those types of companies in its basket? 7 billion in assets under management. Pitcairn chief global strategist Rick Pitcairn is the guy right here. What's in the ETF that you like that you say is related, but gives you a sense of getting ahead of a European or at least an Asian move in some of these names? Well, hi, Liz, how you doing? Good to be back. And you know, we just really think that the AI boom has been really something in the States. It's concentrated in very much the top of our market. And if we can get exposed to some of these companies at a little bit cheaper basis, it may take a while for that to come around. I mean, we've had a heck of a momentum run here and the market's doing great. We really believe in keeping that diversity in the portfolio over time because at some point this is not going to look as good and we want to have that diversity in the portfolio. So it's the ACWXETF, correct, Two of the names give them. There's ASML that's part of this, which is a huge Dutch chip maker out in the Netherlands, or at least Dutch equipment maker, correct. And, and I think that they have a good runway in front of them. You know, it's, it's really the basket that we're looking at as much as it is the individual names. We're trying to figure out a way to play this theme, but yet not be just chasing momentum right at the very tippy top of this market. If you look at the, you know, the 10 stocks at the top of this market, it's been an incredible run with NVIDIA at the top of it. But the fact of the matter is, look at Nvidia's biggest clients. Who are they? They're the other nine names. They're Google, they're Microsoft, they're Apple. There's some connection there. And we're trying to just spread out from that a little bit so that we aren't quite so concentrated as we go through the rest of the year. Yeah, Speaking of NVIDIA, it just turned positive. I don't know if we can put up an intraday picture of NVIDIA, but it had been lagging throughout the session, down at one point more than 2%, even as the company had its big annual shareholder meeting. Now it has just turned positive by a fraction. So it shows that there's real resiliency in some of these names. Let's completely shift the narrative to another area that you like, and that is gold. Why? Well, we like gold for quite a while. In fact, I was on the show in October when it was much lower, saying this is a place we think we ought to be. And I wouldn't be too surprised if we had a little bit of a pause because it's had such a move since that since October. But you know, our fiscal policy is extreme and around the world, central banks are really taking some extreme policies. And I believe that gold, maybe Bitcoin in a more risky way, are ways to sort of have an anti Fiat currency currency in your portfolio so that you're protected against some of those actions. Fiscal and monetary are different though. As you know, central bankers are monetary. Fiscal is what the government spends. That said, we've got a debate tomorrow night on CNN, which will simulcast here on Fox News. And what are you expecting to hear that might change anything? Well, I, you know, I think that what's going to surprise the market is a really poor performance by one of the two of them. I see right now you have a, a, a pretty tight race, right? And I think if you had that bad performance by one of them, you'd see the Friday's the last day of the quarter, you'd see that it'd come through in Friday's trading. All right, we'll be watching it. Rick, good to see you. Thank you so much.