Carlos Artiles
AMD Doubled Data-Center Revenue and Fell 8%: The Delta Rule Claims Two More, With the Jobs Report Two Days Out
Yesterday’s brief argued the market pays for the gap between results and expectations, not the raw growth rate. Overnight it was proven twice more. AMD grew...
Palantir Broke the Rule: A 93% Growth Quarter That the Market Actually Rewarded, and the Dow at a Record
All season, a beat was not enough. Then Palantir grew revenue 93%, raised full-year guidance by $500M, posted a Rule of 40 score of 155%, and jumped 16%. The...
AI's $1.7 Trillion Debt Problem: The Financial Fault Lines Building Beneath the Market
This could be the point where the AI trade changes. For the last several years, markets have rewarded almost any company willing to spend aggressively on...
Trump Called Off the Strikes: Oil Slides, Yields Ease, and August Opens on a Peace Trade Into the Jobs Report
The weekend delivered the de-escalation the tape had been begging for. Trump called off a “massive” attack on Iran and announced Hormuz talks for Monday,...
Amazon Passed the Test, Apple Failed It: The Invoice Thesis Closes the Month With a Clean Sweep
Amazon grew AWS 37%, raised capex to $220B, and jumped 13% because the market saw the return. Apple beat on iPhone but guided weak on supply constraints and...
The Invoice, Settled: Microsoft’s Azure Bought an 8% Rally, Meta’s 91% Cash-Flow Collapse Cost 8%
The thesis this brief has tracked for four weeks resolved in a single night. Microsoft grew Azure 43% and rose 8%. Meta’s free cash flow fell 91% to $784M on...
Oil Gapped Below $90 and the Market Exhaled: A Relief Rally Into the Busiest Week of the Quarter
The US paused its strikes on Iran over the weekend, Brent fell as much as 7.4% below $90, Treasury yields dropped, and futures surged with the Nasdaq 100 up...
AI CapEx, $100 Oil, and the Great Market Rotation
A brutal week for Big Tech, yet the S&P 500 barely moved. This is not a broad collapse — it is a rotation, away from the companies paying to build AI and...
Korea Hit the Circuit Breakers, and Intel’s Best Quarter Since 2011 Bought a 3% Move
Thursday was the reckoning: the Magnificent Seven shed nearly $800B, Tesla fell 14.5%, and Brent topped $100 for the first time since May. Overnight, Seoul...
The $200 Billion Invoice: Alphabet’s Cash Flow Turned Negative, and Korea Rallied
Google Cloud grew 82% to $24.8B with operating margin at 35.6%, revenue beat by $2.9B, and the stock still fell 4%, because capex hit $44.9B and free cash flow...