Satya follows Cook’s lead and announces broad Xbox price increases while #$MU soars … I wouldn’t underestimate the political implications of this

This is a fascinating and important set of data which shows us where things are going, using OpenAI as a canary in the coal mine. The chatbot era is over & agentic systems are coming to tasks beyond engineering. Skills show promise as a way to standardize AI use in firms. openai.com/index/how-ag...

while much of this is mechanics driven, I continue to reiterate that memory stocks doing well is not good for anyone else. Broader tech selling off makes complete sense. We've gone from an oil shock in the real economy to a worsening memory shock in the tech economy

350 is an incredibly crucial level for #$MSFT ... previous low from this year + low from liberation day + high from 2021 fall

watch for Tim to lean further into this ... greatest supply chain exec of all time retiring in a few months. I would not be shocked to see him lean into the politics of this as well (#$MU, 85% margins, Chips Act recipient, etc)

feels pretty clear that Tim Cook is trying to bring attention to / highlight the memory situation. Uncommon WSJ article about raising prices (and maybe looking for Chinese supply) and now announcing price hikes the day after #$MU reports

Somehow it took the hyperscalers losing all their FCF to truly appreciate just how much cash they generate

2 questions you have to ask yourself: 1) how sustainable do you think #$MU’s earnings are and how do you want to underwrite that sustainability? (The more SCA’s they sign the better) 2) where along the value chain do you think memory will be once the supply / demand balance is more “normal”

really incredible how much cash #$MU is producing right now

tough afternoon of headlines for the team in Mountain View #$GOOGL

rebalances continue

Hock Tan making his rare CNBC performance at 10am with Greg Brockman

#$AVGO and OpenAI officially announce their Jalepeno silicon accelerator As flagged by Hock Tan, will be set for deployment by end of 2026

Spac deal! I believe this makes Agility the first of the pure play robotics companies to be public. Obviously won’t be the last. Unitree going public in China shortly as well

just an incredible World Cup, incredible

really not sure I understand what Ben Reitzes was just trying to say on CNBC. Also not sure I liked the confidence with which he said it. I've found it important to be very careful when analysts speak that way. Too much confidence is typically not a good sign

#$AAPL #$META #$MSFT #$AMZN outperforming

#$WMT leaning further into their high margin Advertising biz - www.businesswire.com/news/home/20...

How much and for how long can the memory names squeeze / tax the ecosystem is really the question right now Away from some of the deleveraging / EOM and EOQ rebalances, #$MU reports tomorrow as some on the street take hyperscaler % of capex spend in 27 on memory close to 50% (up from ~10% in 25)

#$NFLX is another stock sitting close to its Fall 2021 high giving back a half of decade or so of gains

feels very rebalance'y out there ... CL1 down down almost 3% with, yet energy equities trading higher with consumer discretionary lower lots of tech getting hit, even within the semi complex. large cap getting hit the hardest (outside of #$AAPL)

#$PLTR makes a new 52-week low and sits unchanged from Feb 2025

hyperscalers continue to be very weak

some more details about what was hinted at during Anthropic last raise #$MU

looks likely again today

I weirdly think its almost so strange that it works .. especially knowing the fact that Henry just sits there and makes faces

#$MSFT is basically unchanged since late 2021 if you include the increase in valuation of their holding in OpenAI ... really incredible

after a strong May for #$IGV, June has been the opposite elevator up and elevator down

interesting watching the curve flatten like it has ... market thinking the fed will hike at some point this year, but that it will be a mistake? not sure if that is how I am definitely reading it, but I think you could make that argument

#$QQQ pointing to a +1.50% open with #$META #$MSFT #$GOOGL #$AMZN looking slightly up to slightly down

Very cool! www.midjourney.com/medical

What caught my attention most from this article is Cook’s willingness / openness to purchase memory silicon from Chinese vendors. I expect this to become topical across the tech spectrum

I think Warsh is spot on about restrictiveness being “uneven”

so far, the immediate answer is the AI trade ... look at #$ARM #$MRVL #$GEV etc

have to wonder if the mag-7, which has been dead money since last september, could ramp on higher rates or if the cleaner story is still higher rates = buy AI build out because that is where the Mag-7 capex is going anyway ...

1 thing to keep in mind about the current Anthropic situation is that Mythos was out in early March. It's now mid-June. Somewhat safe to assume that the continued RL Anthropic is running + addition of compute coming will lead to a much stronger model (at least internally) at Anthropic by the fall

sorry ... <$8bn

Mag's struggling again today

Neymar returned to action for the first time since he joined Brazil's World Cup squad while nursing an injured right leg.

It feels like there has been a drought of non-fiction / business / history / political books out recently last book I read was Bill Gurley's Runnin Down a Dream (great book)

consistent with commentary / earnings from the major retailers

In light of the #$MSFT #$ORCL headlines.. good time to revisit the below (still short on compute) ….

Semis fading into the close

#$SNAP in the headlines ... good reminder that this is a sub $10bn market cap company. Always intriguing as to whether or not someone will buy them in my mind

Insider buy at #$AVGO by director Harry You … disconnect remains between the AI complex and #$AVGO / #$NVDA

yields have seemed to decouple a bit from oil today ... curve steepening a bit, but not really seeing the yield selloff I think some were expecting. Of course, fed this week will be important as we hear from Warsh for the first time

Sneaky little Merger Monday today... another $CRM

the power generation names have really pulled back from their highs of late .. #$GEV is -25% in less than two months

All of a sudden, you have a lot of tech names joining half of the mag-7 down in the -20-30% range from all time highs ... happens quickly

As always, great interview by @reckless.bsky.social with Mustafa. Nilay pushes Mustafa on consumer products of AI not being good enough (I agree). IMO, consumers want to see something tangible (hardware). Despite being years late with seemingly no plan, #$AAPL still controls its destiny there