OOO (see you in two weeks)

Some of the excesses of 2021 + some of the momentum of the 90s + never-before-seen levels of profitability = this

QNX GON’ GIVE IT TO YA The only times BlackBerry’s had a bigger three-month gain than its current +166%: -2021 retail meme-sanity -tail end of the dot-com bubble #$BB

The billions upon billions in buybacks were farts in the wind. Dispersion increased (I think @peark.es flagged this a couple weeks ago) and so there’s an opportunity (and more acceptance) in proving you’re not one of the irreparably disrupted companies.

Listen if you don’t like good, old-fashioned price discovery I’m not sure what you’re doing here.

Dell’s AI server business didn’t exist until late 2023 as a business segment. Its sales are now larger than Dell’s entire Client Solutions Group (its foundational, mature PC-focused division) sherwood.news/markets/dell... #$DELL

Insane *MONGODB SHARES SINK 21% AFTER REPORTING 1Q RESULTS *MONGODB SHARES TURN POSITIVE AFTER FALLING AS MUCH AS 21% #$MDB

US investors are in the midst of a massive boom, where values of prized assets continue to rise despite a rush to bring supply to market. Separately, AI stocks are going up. www.nytimes.com/athletic/731...

👌

Two editors signed off on this chart hed. #$SMCI sherwood.news/markets/supe...

Nothing ever ends well. There’s no such thing as a happy ending. Worms eat our flesh. Eat at Arby’s.

Retail traders are flipping the bird to every study that talks about how stock picking is so hard and active managers usually underperform sherwood.news/markets/reta... Single stock picks up ~90% YTD, lol

To put IBM’s pledge to spend $10 billion on quantum computing over the next five years in perspective: IonQ, the biggest pure play quantum computing company by market cap, has spent a combined $1.3 billion on capex + opex over the past five calendar years. sherwood.news/markets/ibm-...

It’d be a lot cooler if this wasn’t true, man. alwrong alwrong alwrong.

Good morning

The #$MRVL formula: In-line report. Better than expected near-term guidance. Big boosts to long-term guidance. sherwood.news/markets/marv...

#$OPEN with the reverse Abe Simpson: Booted from the Russell last year, being re-added in June sherwood.news/markets/open...

Hey Siri, where did the 30y yield peak? (5.1985%) Me, nine days ago-

Goodbye, cruel world

$XRT retail ETF up 5 days in a row, +7% in that stretch.. best rally of the year

Micron’s trading volumes on Robinhood hit a record yesterday, 53% above the prior peak from two weeks ago #$MU Buy/sell ratio of 1.17x (via @crowthski.bsky.social) Read more in EntryPoint: join.sherwood.news/entrypoint

A big development in “know some of your customers” compliance here: Polymarket Wants Traders to ID Themselves as It Faces Sanctions, Legal Risks www.theinformation.com/articles/pol...

Past is not prologue but sometimes history rhymes: Remember that Henry Blodget’s famous $400 price target call on #$AMZN was hit in a matter of weeks.

From risk on, risk off to Micron, Microff

If overtrading is among the greatest flaws that humans have in financial markets, interested to see how AI agents pan out.

Sheep Detectives was honestly very heartwarming. Strong recommend.

Today’s lesson: Peace is great; the small pieces that help the brains of the AI boom access information are even better. sherwood.news/markets/glob...

“Traders are happy about potential peace, but even more happy that Micron exists”

Would be first time since December 16, 2022 that #$ACWX beats #$SPY by >1% while #$QQQ outperforms #$EZU

many are saying bsky.app/profile/isai...

For instance, today: “oh, ACWI ex-US beating #$SPY by >1%...must be further reversal of geopolitical risk with oil down” <checks notes> #$EWY +9.2%

2026 problems: I need an MSCI ACWI ex-US ex-Korea index.

The Enhanced Games made me proud to be clean sherwood.news/markets/enha... #$ENHA

Here’s why UBS thinks Micron will be a >$1.8-trillion company #$MU sherwood.news/markets/micr...

This is the stance I would take if someone was competing with me in the “using suspiciously generated text to prove the existence of a higher power” business www.vaticannews.va/en/pope/news...

Some fun facts about buying what the Trump administration buys: If you “follow the Feds” (T+1) rather than “Front-run the Feds” (likely a mix of impractical/illegal)... Then basically all your outperformance is due to Intel #$INTC Subscribe to EntryPoint for more! join.sherwood.news/entrypoint

Me in @opinion.bloomberg.com: For most of the past 2 years we’ve had a K-shaped economy with an AI boom largely offsetting cyclical weakness elsewhere in the economy, but a continued AI boom is swamping those cyclical soft spots and increasing overheating risks: www.bloomberg.com/opinion/arti...

A modest proposal: Can we all agree not to talk about Nvidia’s stock price after earnings? sherwood.news/markets/nvid... #$NVDA

Cannot remember a more boringly rangebound #$NVDA conference call tape

Jensen doing a v good job so far imho

Jensen added “compute is profit” to the “compute is revenues” line! #$NVDA

Either Kress misstated the new dividend or that’s the fastest dividend cut in corporate history #$NVDA

“We have visibility to nearly $20 billion in total CPU revenue this year, setting us up to become the world leading CPU supplier.” - CFO Colette Kress #$NVDA

If you have two options... 1) Pretending the knee-jerk reaction in #$NVDA is lower bc the company issued Q2 guidance that was better than the average estimate but not as high as the high est, or 2) waiting if the story isn’t clean before trying to ascribe causality ...why would you ever choose #1?

#$NVDA pretty good quarter

Jensen rn youtu.be/xFYQQPAOz7Y?... #$NVDA

lil #$NVDA earnings preview sherwood.news/markets/nvid...

Your reminder that Arsenal only has US fans because of either: a) bandwagoners b) FIFA manager mode wouldn’t let you start with a 5 star team and they were a 4.5 star team with a good alphabetical ranking

Congratulations to @sellingtheta.bsky.social and only @sellingtheta.bsky.social

#$ALAB CEO on UALink uptake: AWS and AMD already publicly supporting, but also “Some have already decided to use UALink outside of these two. Unfortunately, they have not yet publicly stated their position, so we cannot do that until they do so.”