Meta Faces a Trial Bigger Than the Number
A $1.4 trillion headline distracts. The injunction could break Meta’s model.
The Boring Companies Winning the AI Race
GEV, VRT, ETN, and DELL booked the numbers this earnings season. The market is still looking at the wrong layer.
PATH Is Up From Its Lows. September 3 Is the Only Number Left.
UiPath’s agentic pivot is moving from pilot to production. The Q2 report will say whether the market is ahead of the fundamentals or behind them.
The $100B Refund Most Investors Ignore
Washington is refunding more in tariffs than it collects. Gold is a quiet beneficiary.
SanDisk Is Rewriting the Memory Hierarchy
The $93.9B contract floor answered the cycle question. High Bandwidth Flash is the one Wall Street hasn’t priced yet.
Two Reports Just Killed the September Hike
July CPI hit 3.4% as hiring turned negative. The Fed hold case is now the consensus trade.
Iran Just Set a 2029 Clock. MPC Is the Trade.
An Iranian adviser signaled the Hormuz standoff may last into 2029. Marathon Petroleum just posted $17.73 in adjusted EPS. The two facts belong together.
The Floor Under $4,400 Gold Is Not Iran
Central banks bought a Q2 record 289 tonnes as prices fell. That structural bid is what matters now.
Terafab Is Not a Building. It Is a Supply Chain Argument.
SpaceX and Tesla committed $16.8 billion to phase one of a 100-million-square-foot chip megafactory in Grimes County, Texas. The $119 billion ceiling gets the headlines. The execution gap is where the real trade lives.
SMCI’s Margin Doubled. That’s the Number That Matters.
A revenue miss still sent SMCI up about 10%. Gross margin rising to about 17% is rewriting the investment case.