MSFT, AMZN, AVGO, META, NVDA -> all ending the year at least 10% or greater off their 52w highs

ORCL will end the year up ~3% from its January high (Larry Ellison at the White House with Trump, Masa, and Altman)

Dan Niles talking about this now on @cnbc.com - fatigue in the AI trade continues to lead to multiple compression

Looks like the Q's are going to end 2025 with two straight negative months

I know everyone is basically on vacation, but you would think NVDA would be up a lot more on this … if true, this is ~$50bn of revenue not included in estimates

JUST IN: The CIA conducted a drone strike in December on a remote dock on the Venezuelan coast, sources told CNN, the first known US attack inside the country. https://cnn.it/490npv8

Interesting acquisition for META who seems to be slowly moving further into the enterprise / commercial world, especially with WhatsApp

Interesting chart - surprised no "DeepSeek"

Great article this morning in the @wsj.com about COST vs WMT in China. The themes playing out there are not much different than the competition in the US. Ability to expand quickly and much better e-commerce is driving WMT's success

British former heavyweight boxing champion Anthony Joshua was involved in a car accident in Nigeria’s Ogun State that killed two people, local police said.

The S&P 500 is at an all-time high, while the median S&P 500 stock is in an 11.5% drawdown. Data from @barchart

Merry Christmas 🎄 🎅

Wow

DDOG weak on news reports that SNOW is close to acquiring Observe Inc ... helps move SNOW up the stack with little integration risk

WMT cooling since mid-Dec - off about 6.00% from its high.

Almost a year ago to the day, but Jim having the same discussion about German autos and the impact that Chinese autos will have on the economy / political stability @carlquintanilla.bsky.social

Cramer on CNBC today yelling about COST using the word "choiceful" in their earnings call (unless I misremember and the transcript is wrong, mgmt did not use that word) Good ex of the below by Cramer. You know who did use the word "choiceful" this quarter? WMT ... not hurting that stock

Weekend.

Gnarly closing auctions out there right now

This thought is getting some traction on CNBC right now

SPY goes ex-div today

Interesting fact here from a Stacy Rasgon Bernstein note this morning - "... over the last 10 years there have only been thirteen days where NVDA’s stock traded cheaper relative to the SOX than it is trading now."

A lot of numbers and valuations being thrown around this week, but it seems clear that OpenAI is about to attempt a major raise in early 2026. Would be absolutely remarkable for OpenAI if they can raise $100bn

These turnaround stories are so tough to time and predict - NKE, SBUX, BA can add LULU to this now (amongst others)

Not sure what to make of AVGO right now

Idk what to make of this article

I keep seeing these articles and they don't make much sense to me... World cup face value tickets are roughly in line with NFL regular season tickets I would much rather pay for WC tix (once every 4 years and decades until next time in US) than Eagles vs Cowboys in September

Man... these MU numbers will be very interesting to see how DELL, HPQ and other tech OEM's will handle this

Neat thread Seems like this flash model really helps brings down the business costs of Overviews and AI Mode for GOOGL

At ~$170, NVDA is trading at sub-20x FY27 (CY26) earnings

UBER falls below 80 for the first time since April

COST is a great example of price action driving sentiment - all of a sudden ... 1) investors have opened up to the idea that retail sector inv $'s should be allocated to WMT and TJX 2) COST should trade @ 40x, not 50x 3) WMT and AMZN (obv) have embraced tech and ecomm to greater avail

"One person familiar with the structure of Oracle’s deals with lenders and data centre operators said that the company was facing more onerous terms on its leases than rivals such as Amazon and Microsoft." ......

Anthropic made the correct decision a while back deciding to diversify compute particularly at lowest TCO - OpenAI coming to realize that this approach is smarter. NVDA would argue (correctly) that TCO is higher for T3 given limitations vs GB300 hardware, but $10bn helps tighten that spread :)

The commentary surrounding this BofA fund survey on CNBC today has been exhausting

META was the first of the hyperscalers / semis to break down in late Oct... found its footing and has outperformed of late

Interesting market reaction (albeit short lived) but algos clearly drove DXY up, long end yields down on the wires

The rotation into META the past few days is interesting to see

Final details on this, interesting comparison vs SNOW which has traded down since its Q3 print ... Both companies now at a ~$4.8bn annualized run rate based on Q3 print for SNOW and article for Databricks (DB) BUT - SNOW rev +29% YoY and Databricks growing at 55%+ SNOW @ ~15x rev vs DB @ 27x

Retail sales continue to suggest a healthy and reaccelerating consumer (looks like late summer / early fall was the trough)

Pretty funny that Gerstner hasn't released a new episode of his pod, BG2, (which I really enjoy) since the Altman freakout episode in October Had been releasing episodes on a two-week cadence prior to that

Decision is being made on COST's behalf...

INBOX: “.. ‘One Battle After Another’ Begins Streaming Exclusively On HBO Max December 19”. 💕 @warnerbrospictures.bsky.social variety.com/2025/film/ne...

...

Pretty funny that Cramer spends an hour trying to throw cold water on "bubble" talk and then CNBC opens the 10am hour highlighting an upcoming interview to discuss whether there is a bubble

Very harsh downgrade of COST over at ROTH MKM

Great reporting by @wsj.com, staggering read

Escalator up, elevator down

I got back to what I posted after the ORCL call. It didn't help either that Clay and Mike were not very good on the call, while Larry wasn't really heard from... There is a reason why Nadella did not want this business and purposely pursued a "fungible" strategy.