1. His client's Q3 spend on both $Meta Platforms (META.US)$ and $Alphabet-A (GOOGL.US)$ is bigger than expected. The reason is that both companies are getting better at AI.
2. For $META specific, he mentions $META's mid-quarter rollout of the functionality for advertisers to integrate their CRM systems and their analytics systems to the $META ad platform 24/7 (as an always-on API feed) as the »biggest upgrade $META has had to ...
2. For $META specific, he mentions $META's mid-quarter rollout of the functionality for advertisers to integrate their CRM systems and their analytics systems to the $META ad platform 24/7 (as an always-on API feed) as the »biggest upgrade $META has had to ...
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Market Analysis
1. Goldman Sachs' Republican outperform versus underperform basket is currently outperforming the Democratic outperform versus underperform basket.
2. The trading team at Goldman Sachs, including Faris Mourad, anticipates significant volatility in a basket of stocks closely tied to Republican policies if Trump wins the election.
- "Since this summer, the sensitivity of our Republican policy outperform basket to election events suggests that if Trump wins the pres...
1. Goldman Sachs' Republican outperform versus underperform basket is currently outperforming the Democratic outperform versus underperform basket.
2. The trading team at Goldman Sachs, including Faris Mourad, anticipates significant volatility in a basket of stocks closely tied to Republican policies if Trump wins the election.
- "Since this summer, the sensitivity of our Republican policy outperform basket to election events suggests that if Trump wins the pres...
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It's no secret that $ $NVIDIA (NVDA.US)$ 's stock price tends to track big tech's capex. A few observations:
▶️The major upward revisions for capex came in 2024, as 2023 was still more about post-COVID normalization and cost-cutting. Some firms ( $AMZN $META) even reduced capex in 2023.
- 2025E consensus for the "Big 4" (MSFT, GOOGL, META, AMZN) combined moved from $167B (Jan 2023) to $182B (Jan 2024) to $230B (Oct 2024).
- 2024E consensus shifted from $160B (Jan 2023) to $170B (Jan 2024) t...
▶️The major upward revisions for capex came in 2024, as 2023 was still more about post-COVID normalization and cost-cutting. Some firms ( $AMZN $META) even reduced capex in 2023.
- 2025E consensus for the "Big 4" (MSFT, GOOGL, META, AMZN) combined moved from $167B (Jan 2023) to $182B (Jan 2024) to $230B (Oct 2024).
- 2024E consensus shifted from $160B (Jan 2023) to $170B (Jan 2024) t...
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PREMOSULTRAA
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$SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ SEVERAL SCENARIOS THAT WE CAN VIEW THIS:
1. Earnings Jitter such as in July but without the Carry Trade. Means more downside to go on tech $NVIDIA (NVDA.US)$ 121, for example, $Invesco QQQ Trust (QQQ.US)$ back to 480.
2. Punish late chasers due to $NVIDIA (NVDA.US)$ 140 $Apple (AAPL.US)$ New ATH today profit taking. But if $NVIDIA (NVDA.US)$ holds 128, still good.
3. They're staring to take profit an...
1. Earnings Jitter such as in July but without the Carry Trade. Means more downside to go on tech $NVIDIA (NVDA.US)$ 121, for example, $Invesco QQQ Trust (QQQ.US)$ back to 480.
2. Punish late chasers due to $NVIDIA (NVDA.US)$ 140 $Apple (AAPL.US)$ New ATH today profit taking. But if $NVIDIA (NVDA.US)$ holds 128, still good.
3. They're staring to take profit an...
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$Amazon (AMZN.US)$ has the largest upside potential among all mega-caps.
It’s very well positioned:
- 40% market share in US e-commerce
- 31% market share in cloud
- 14% share in digital ads
Plus it’s launching satellite internet service.
It’s a no brainer at this level.
It’s very well positioned:
- 40% market share in US e-commerce
- 31% market share in cloud
- 14% share in digital ads
Plus it’s launching satellite internet service.
It’s a no brainer at this level.
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PREMOSULTRAA
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Third-party contact is service integrator for $Salesforce (CRM.US)$ , $ServiceNow (NOW.US)$ , $Freshworks (FRSH.US)$ , etc. focused on call center space.
Was constructive on $CRM AgentForce product and sees a lot of pilots beginning – but also notes $Salesforce (CRM.US)$ spending fatigue is very real so they really have to execute here. Positive on $ServiceNow (NOW.US)$ AI and thinks $Freshworks (FRSH.US)$ / $ZEN are dogs.
Highlights
-CRM AgentForce looks pretty good thus far in demos as far as capabi...
Was constructive on $CRM AgentForce product and sees a lot of pilots beginning – but also notes $Salesforce (CRM.US)$ spending fatigue is very real so they really have to execute here. Positive on $ServiceNow (NOW.US)$ AI and thinks $Freshworks (FRSH.US)$ / $ZEN are dogs.
Highlights
-CRM AgentForce looks pretty good thus far in demos as far as capabi...
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in its updated Summary of Economic Projections, the Fed pointed to more rate cuts this year… more rate cuts next year… and more cuts the year after that. In total, the Federal Reserve is projecting another seven to eight rate cuts over the next two years.
Mortgage rates will crash, reenergizing sidelined homebuying demand and unfreezing the housing market. Auto financing rates will plummet, too, reheating the stalled-out auto market. And debt cos...
Mortgage rates will crash, reenergizing sidelined homebuying demand and unfreezing the housing market. Auto financing rates will plummet, too, reheating the stalled-out auto market. And debt cos...
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$Bitcoin (BTC.CC)$ To tell the truth, for days the hypothesis has been circulating that September 18 was not the right day for a reaction in the price of Bitcoin, but today, that is, the 19th.
The markets indeed follow cycles that are due both to their inevitable seasonality and to human behavior, which in many cases is influenced, for example, by the climate.
In fact, September is often a difficult month, because for reasons related to market seasonality it tends to be...
The markets indeed follow cycles that are due both to their inevitable seasonality and to human behavior, which in many cases is influenced, for example, by the climate.
In fact, September is often a difficult month, because for reasons related to market seasonality it tends to be...
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PREMOSULTRAA
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40% of Nvidia’s, $NVIDIA (NVDA.US)$ , revenue comes from some familiar names among the “Magnificent Seven” stocks — Microsoft, $Microsoft (MSFT.US)$ , Meta, $Meta Platforms (META.US)$ , Alphabet, $Alphabet-A (GOOGL.US)$ , and Amazon, $Amazon (AMZN.US)$ , per Bloomberg.
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Goldman's Kash Rangan highlights that - as disruptive as the cloud was - incumbent vendors (ex- $Microsoft (MSFT.US)$ ) created 160% of the value vs. new entrants through the cloud cycle, despite being relatively poorly positioned coming into it from a product and business model perspective (all on prem and all perpetual license).
As we look out from the start of the GenAI cycle, today's software incumbents are more product and innovation focused than the past, have better business models, and in m...
As we look out from the start of the GenAI cycle, today's software incumbents are more product and innovation focused than the past, have better business models, and in m...
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