Nvidia has blowout earnings, and a blowout valuation; CEO Jensen Huang laid out Nvidia’s bull case, but the company has motivated competitors elsewhere in the value chain.
Cord-Cutting and YouTube TV, Disney Earnings, Pay TV’s Vision Cycles
YouTube TV may be the sports bundle, and then Disney’s earnings offer a framing to discuss how and why the bundle unraveled, and the best way to rebuild around streaming.
Facebook Earnings, Generative AI and Messaging Monetization, Open Source and AI
Meta’s earnings showed that all of Meta’s Myths were, in fact, myths. Plus, how LLMs can benefit Meta ad products, and why Meta might open source more AI models.
UK Blocks Microsoft Activision Acquisition, Microsoft and Google Earnings
The UK blocks Microsoft’s Activision acquisition using a market definition that makes no sense; then, Google and Microsoft’s earnings both talked about AI, but the discussion was more favorable to Microsoft
Netflix Earnings, Netflix’s Movie Strategy, Accretive Ads
Netflix’s earnings show that its ad business is doing even better than expected, and that its movie release strategy is right to be different.
Shopify Earnings, Shopify Audiences, The Shop App
Is Shopify saturating its market for merchants? There are some hints in its earnings. Then, Shopify Audiences is valuable, but Shopify has a margin problem in expanding access, and the Shop App is getting more investment.
Google Earnings, YouTube’s Aggregation Bid, YouTube Shorts Monetization
The search slowdown in Google’s earnings raises questions without clear answers. Then, YouTube is trying to be an Aggregator, and putting pressure on Meta with its Shorts monetization plan.
Intel Pay-Cuts, and Revisiting the Dividend Question; Investor Honesty; AMD’s Earnings
Revisiting my Intel dividend take, and admitting I had it wrong. Then, AMD’s rapid capture of marketshare in the data center is a big problem for Intel.
Microsoft Earnings, Azure’s Slowdown, Office Strikes Back
Microsoft’s earnings were down: the news about PCs was encouraging, while Azure unsurprisingly felt the pain later than AWS. Anyone competing with Office 365, though, is in worse shape.
Intel Earnings, Intel’s Plunging Margin, The Dividend Question
Intel’s earnings are brutal, but it is a brutal result years in the making. That mismatch between decisions and consequences probably explain why Intel continues to pay a dividend despite its need for cash.