$Advanced Micro Devices (AMD.US)$ is now among the weakest performers in tech this quarter.
The last time its Relative Performance was this low, it marked the start of a new uptrend and the creation of the trendline it just broke.
Is this a sign of capitulation—or something worse? 🤔

Potential $Strategy (MSTR.US)$ / Bitcoin catalyst countdown:
Monday-Tuesday: $Bitcoin (BTC.CC)$ MENA
Tuesday: $Microsoft (MSFT.US)$ 's Bitcoin vote
Friday: Nasdaq-100 additions announcement $NASDAQ 100 Index (.NDX.US)$

$Dell Technologies (DELL.US)$ (grew its AI server backlog by $700M Q/Q to $4.5B and says its 5-quarter AI deal pipeline grew over 50% Q/Q, but also guided FQ4 sales below consensus) says there's been a "shift in demand in AI to Blackwell," particularly $NVIDIA (NVDA.US)$ 's GB200.

$Strategy (MSTR.US)$
Stock Surge: MicroStrategy’s stock rose by 24.7% this week, driven by Bitcoin’s price increase and a new convertible debt offering.
Bitcoin Holdings: The company now holds 279,420 Bitcoins, benefiting from Bitcoin’s 10% price rise this week.
Convertible Debt: MicroStrategy issued a $3 billion convertible note with a 0% interest rate, due in 2029, allowing them to buy more Bitcoin1.
Despite the attractive financing...

$Amazon (AMZN.US)$ is going to be the first $10 trillion company.
People still don’t see what’s coming.
We saw yesterday with Google that cloud demand is exploding. Amazon leads this business and the growth is accelerating.
It will generate $700 billion cloud revenue in 2032 if the market grows as expected.
And the market is growing faster than expected, Google earnings proved this.
$AMZN is still very cheap.

$Alphabet-A (GOOGL.US)$ - earnings tomorrow AH.
Expected move is 6%, trend sales have improved on a monthly basis but marginally given weekly sales are down.
Guidance is what really matters with new Gemini 2.0 and AI features.
The skew is slightly bullish currently, wall C170 November term, also stronger positioning at C200 Jan term position.

$Taiwan Semiconductor (TSM.US)$ just reported earnings; revenue +36% Y/Y $23.5B (beat). Gross margin 58%.
$Taiwan Semiconductor (TSM.US)$ just showed you that the real $ASML Holding (ASML.US)$ issue was $Taiwan Semiconductor (TSM.US)$ dominating the foundry business & boxing everyone else out. 3nm & 5nm = 51% of revenue now.
As I said many times $Taiwan Semiconductor (TSM.US)$ dominates!

$Bank of America (BAC.US)$
✅Consumer loans/leases were up 1% - slight uptick, that's a modest increase
✅Net Charge Offs flat $1.5 billion - this is a positive economic indicator
✅Consumer Charges Offs increase of $264 million from Q3 2023 to $1.2 billion - this doesn't worry me, these numbers during Covid were at historical lows and are slowly rising
✅Net Charge Off ratio dropped .01% to .58% from Q2 2024 - this is healthy
✅Consu...

Jefferies out making the call that $NVIDIA (NVDA.US)$ data center revenue in 2025 may be closer to $210 billion vs $170-$180 billion consensus driven by $Taiwan Semiconductor (TSM.US)$ ramping CoWoS (advanced packaging) to 70,000+ WPM in 2025.
Add to that the comments from NVDA and Hon Hai that Blackwell demand is strong = NVDA going higher the last two days and helping to fuel the “AI infrastructure” trade of late.
At $210 billion data center revenue in CY 2025, what does NVDA 2025 EPS look like? $5.00...