A 25% fall in a company like IBM is not an ordinary earnings reaction. It is the market suddenly questioning an entire investment story. IBM’s preliminary second-quarter revenue came in at approximately $17.2 billion, up only 1% year over year and below expectations of around $17.86 billion. Adjusted earnings of $2.93 per share also fell slightly short of forecasts. But the numbers alone do not fully explain such a violent sell-off. The greater concern was the message behind them. IBM said customers had prioritised spending on servers, storage and memory amid supply constraints and anticipated price increases. That redirected technology budgets away from some software and infrastructure purchases. Management also acknowledged execution failures. Several significant deals did not close as e

Tesla finally put the purpose-built Cybercab onto public roads. No steering wheel. No pedals. No driver. And, according to Texas records, only 45 Cybercabs are currently registered in the state. For a company worth around US$1.4 trillion, that number sounds almost ridiculous. 45 cars? Is this really the robotaxi revolution investors have been waiting years for? I think that is the wrong question. Because Tesla’s Cybercab thesis will not ultimately be decided by how many gold cars were parked in Austin during launch week. It will be decided by something much less exciting: Unit economics. 🚕 45 CARS ARE A TEST. NOT A BUSINESS. Tesla’s Texas autonomous fleet contains hundreds of vehicles, but only 45 are currently purpose-built Cybercabs. The company has also begun asking businesses whether t

Memory stocks are surging while the broader market struggles. The obvious explanation is simple: AI demand is strong. HBM is scarce. Memory prices are rising. Micron, SK Hynix and Samsung benefit. I think that explanation stops one level too early. Because something much larger is happening underneath the memory rally. AI data centres are not simply creating another source of semiconductor demand. They are competing with the rest of the technology industry for a limited manufacturing resource. And increasingly, the rest of technology is losing. The result could change much more than memory-company earnings. It could change how much laptops cost. How much RAM goes into smartphones. Which consumer brands survive. How quickly people replace devices. Whether affordable phones can run AI locall

#[🎁Reward: Tech Stocks: Buy the Dip or Run for the Exit?] There is a strange assumption in markets that being bullish means you need to be fully invested. I don’t agree. I remain bullish on the long-term AI opportunity. I already have exposure through names including $NVIDIA(NVDA)$ and $Advanced Micro Devices(AMD)$, alongside broader positions such as $SPDR S&P 500 ETF Trust(SPY)$. But I am deliberately not fully invested yet. That is not because I think AI is dead. It is because I think keeping cash available is an investment decision too. 📉 A falling stock is not automatically a cheap stock This is the part I think gets lost during big corrections. When a stock drops 20%, 30% or even 40%, our brains immediately compare the new price with the old high. It looks cheap because it used t

$Palantir Technologies Inc.(PLTR)$  Palantir has just delivered one of the strongest earnings reports I have seen "from a major software company! Wow. The company did not merely beat expectations. It nearly doubled revenue, accelerated both sides of its business, generated enormous free cash flow and raised its full year outlook by  roughly half a billion dollars. Shares jumped approximately 12–14% after hours, but one major question remains: Has Palantir finally grown into its premium valuation, or is the market once again getting carried away? 📊 The headline numbers Palantir reported: - Revenue: $1.94 billion, up 93% year over year - Adjusted earnings: $0.41 per share -  U.S. commercial revenue: $764 million, up 149% - U.S. g

Friday gave us one of those market sessions that looks strange until you ask a different question. The major US indexes fell. Treasury yields rose after August payrolls came in far stronger than expected. Rate-hike expectations increased. Growth stocks should have hated that setup. Yet one corner of the market went in completely the opposite direction. Memory and storage exploded higher. SanDisk jumped around 12%. Micron gained 6.1%. Western Digital rose nearly 6%. Seagate also rallied. The semiconductor index climbed more than 3% despite weakness across the broader market. Then Asia opened and the move continued. SK Hynix surged roughly 8%. Samsung Electronics climbed nearly 6%. South Korea’s Kospi jumped 4.6%. At first glance, this looks like another AI rally. I think something more inte