To The Moon

$Alphabet(GOOGL)$ Google just raised its capital expenditure outlook by another $15 billion. That's the second guidance increase this year, after spending had already doubled from previous levels. The reason seems pretty straightforward: demand for AI compute is outpacing available capacity. Sundar Pichai's message last quarter was clear when he said they were compute constrained. With a $462 billion cloud backlog to fulfill, Google appears to be choosing aggressive spending over slowing down. Some funds were reportedly reducing tech exposure heading into earnings. Google's response was to commit even more to AI infrastructure. This capacity race is playing out across other major players too, like $Meta

Noticed a major bank just upped its price target on $NVIDIA(NVDA)$  to $250. Saw a small after-hours move on the stock. It closed the regular session at $207.29, up 1.97% on volume of 106.5 million shares. This kind of news tends to give short-term sentiment a lift, even if the fundamentals haven't really changed. For me, the thing to watch is whether it can stay above $210. As for my own position, I'm still holding. My own target is around $220, and I'm keeping an eye on the $200 level as a risk control point. $NVIDIA(NVDA)$  $Advanced Micro Devices(AMD)$ 

Hold on, look at these numbers: $Microsoft(MSFT)$  at $394, down 18.7% YTD. $Palantir Technologies Inc.(PLTR)$  at $132, down 27.4% YTD. $ServiceNow(NOW)$  at $103, down 32.7% YTD. $Oracle(ORCL)$  at $126, down 36.9% YTD. After declines like these, is it really fair to label these companies as "uninvestable"? The market seems to be pricing in a lot of fear, but the long-term narratives around AI, cloud, and enterprise software haven't gone away. For investors willing to be patient, these stocks are starting to look quite interesting.

$NVIDIA(NVDA)$  Another AI company has hit GPU capacity limits and paused new signups due to overwhelming demand. That's precisely why the AI infrastructure story is still unfolding. Demand for compute continues to grow, and NVIDIA remains at the core of it.

$Advanced Micro Devices(AMD)$ The SOXX ETF is down about 19% from its recent high of 666, putting it just 1% away from bear market territory. AMD is holding up a bit better, down around 15% from its high of 584. The setup looks interesting heading into AMD's AI day next week, followed by their earnings report in three weeks.

$Advanced Micro Devices(AMD)$  Bears couldn't manage to push for a lower low today. From a technical standpoint, if the market makers really wanted the price down, today would have been the day for a dump.

$AST SpaceMobile, Inc.(ASTS)$ $NVIDIA(NVDA)$ $ASML Holding NV(ASML)$ $SpaceX(SPCX)$ It's hard to see how anyone could overlook this company and not be a holder. It really stands out.

$Apple(AAPL)$ Trades at 34x forward earnings. For reference, if Nvidia were trading at that valuation, it would be at $305 per share. From where I stand, it's worth asking which company, Apple or Nvidia, is in a better position to succeed right now. Seems like it should be straightforward.

$Advanced Micro Devices(AMD)$ This will breakout soon.

$NVIDIA(NVDA)$ Just as a side note, Nvidia is now the market leader in another category. It has overtaken Cisco and Arista Networks in Ethernet switching market share. It's another achievement for Jensen, showing his leadership.