Definition of speculates:
(v) :
(intransitive) To make an inference based on inconclusive evidence; to surmise or conjecture.
(v) :
(intransitive, business, finance) To make a risky trade in the hope of making a profit; to venture or gamble.
(v) :
(intransitive, programming) To anticipate which branch of code will be chosen and execute it in advance.
(v) :
(obsolete, intransitive) To think, meditate or reflect on a subject; to consider, to deliberate or cogitate.