Alphabet shares rose about 7% in extended trading on Tuesday after the company reported better-than-expected revenue and profit, driven by growth in its cloud-computing unit.
For the fourth straight quarter, Google’s parent company reported growth in the single digits as it reckons with a pullback in digital ad spending that reflects concerns about the economy. Analysts don’t expect growth to hit double digits again until the fourth quarter. $GOOG Alphabet Q2 FY23 details by App Economy Insights • Revenue +7% Y/Y to $74.6B ($1.8B beat) • Operating margin 29% (+1pp Y/Y) • EPS $1.44 ($0.10 beat) ☁️ Google Cloud: • Revenue +28% Y/Y to $8.0B. • Operating margin 5% (+14pp Y/Y). ▶️ YouTube ads +4% to $7.7B. Source: App Economy Insights, CNBC
When it comes to the rush into AI stocks, these 2 charts are not easy to interpret from a contrarian perspective
On one hand, record inflows into AI etfs could mean there is too much "hot money" = BEARISH from a contrarian perspective. On the other hand, shorts continue to accumulate positions betting on a collapse of AI-related mega-caps tech stocks. This is BULLISH from a contrarian perspective. Source chart: JPM, TME
US credit delinquencies including housing have now risen above 2009 levels.
Source: Sven Henrich
93% of the US yield curve is currently inverted
Source: Tavi Costa, Crescat Capital, Bloomberg
BlackRock is the leading asset management firm with $9.1 trillion in AUM
Vanguard follows closely behind with $7.6 trillion in AUM. However, after Vanguard, there is a considerable drop-off in total AUM, with the next top asset management firms having relatively similar AUM figures. Source: Genuine Impact
Computers vs Humans: Apparently computers got more AUM than humans...
AI will probably accelerate this trend further... Source: Statista, Topdowncharts
Traders are boosting their bets against the US dollar.
Source: The Daily Shot
The "X" war...
As highlighted by The Kobeissi letter, Meta currently owns the trademark for "X" in relation to "online social networking services." However, Microsoft owns the trademark "X" as it relates to online chat rooms and finance. Meanwhile, Twitter wants to make "X" into an everything social network with finance and banking. All while Twitter is suing Meta for copying Twitter... Source: Kobeissi letter