GOOGL Q2 2026 (Apr - Jun 2026) Quarterly Results:

Revenue = $119.8 billion (up 24% YoY) * Ads = $81.6 billion (up 14% YoY) * Cloud = $24.8 billion (up 82% YoY) * Subscriptions = $12.9 billion (up 15% YoY) * Other Bets = $0.4 billion (up 2% YoY)

Operating Income = $40.8 billion (up 30% YoY)

Net Income = $112.1 billion (up 398% YoY) [Includes $98 billion other income (net gain from equity)]

Earnings Per Share = $9.11 (up 394% YoY)

Revenue Backlog = $514 billion (up 12% QoQ)

Capital Expenditure = $44.9 billion (up 100% YoY)

TTM Free Cash Flow = $53.3 billion (down 20% YoY)

Gemini models: 22 billion API tokens per minute (up 37% QoQ)

Gemini App: 950 million active users per month

Quarterly Dividend = $0.22 per share (unchanged QoQ)

GOOGL News Updates: Apr - Jun 2026:

Added to Dow Jones Industrial Average.

HSBC partnered with Google Cloud to expand AI usage.

Increased the size of its equity capital raise to $84.75 billion to expand AI infrastructure.

Position: Long GOOGL (since 2021). NFA.

Google parent Alphabet reported its second quarter earnings after the bell on Wednesday, beating Wall Street's expectations on the top and bottom lines as cloud revenue increased 82% year over year.

For the quarter, Alphabet saw earnings per share of $9.11 on revenue of $119.8 billion. Analysts were anticipating EPS of and revenue of $116.9 billion.

But the company also stated that it is raising its capital expenditures for the year to between $195 billion and $205 billion from $180 billion to $190 billion. Analysts had called for $186.4 billion.

Alphabet stock fell more than 2% on the news.

Google's Cloud platform brought in $24.77 billion, above an expected $24.56 billion and well ahead of the $13.6 billion it brought in last year. Advertising revenue came in at $81.63 billion. Analysts were looking for $81.12 billion.

Google reported $45B of capex in 2Q26, totaling $80.6B for 2026. They have guided $180-190B, implying they plan to spend $100-110 in the second half of 2026.

How do they plan to pull this off when Free Cash Flow was negative this quarter? Note, this is the first time they have EVER had negative FCF since their IPO. They already tapped capital markets several times this quarter ($30B common equity, $19B convertible preferred, $25B net debt).

I realize that they have $240B in cash on their balance sheet, but they won’t be able to fund another year of spending at this level unless they tap capital markets further, which seems highly unlikely

There is absolutely no way Google lets Reddit go. Google Search - per Google’s own Search AI - states that Search relies heavily on Reddit through its data-licensing partnership and also to train its Gemini models. Google currently only pays Reddit $60m a year. This is an absolute STEAL. Considering that Google capex is expected to rise to $45 billion this quarter alone, coupled with the news earlier that Google has started its “most ambitious pre-training for the upcoming Gemini 4 model”, there is no way Google continues a stand-off with Reddit or risks letting them walk. The downside of playing chicken with Reddit far outweighs them just paying Reddit a higher fee to continue to use their content. I think they will easily pay Reddit $1bn a year to renew their license. That would be +50% Reddit’s 2025 TOTAL revenue.

TL;DR Google will absolutely just pay Reddit more money for AI licensing. $RDDT is wrongly punished for this when it should only be seen as bullish. NFA

Tesla reported weaker-than-expected earnings for the second quarter even as revenue topped estimates. The stock slid in extended trading on Wednesday.

Here’s how the company did compared to Wall Street expectations, according to estimates from analysts polled by LSEG

• Earnings per share: 33 cents adjusted vs. 51 cents expected
• Revenue: $28.24 billion vs. $25.71 billion expected

Tesla’s earnings report lands in the midst of a steep decline in its stock price, which is down about 11% this month and 17% for the year. That slide has coincided with a drop in SpaceX, Elon Musk’s other trillion-dollar company, which held a record market debut in June and has lost more than 40% of its value since its peak close.

Source: https://www.cnbc.com/2026/07/22/tesla-tsla-q2-2026-earnings-report.html

During the lead up and climax of the dotcom bubble, retail investors were calling Buffet a dinosaur and saying he was "out of touch" when he refused to buy the dotcom garbage and was holding cash. Fast Forward to 2026, online investors are saying generally the same thing about him/Berkshire.

The sentiment online is literally "Buy the dip bro! Stocks only go up!"

Yet the person widely seen as 'the greatest investor ever' has amassed roughly 1% of the US GDP in cash...

It is obvious Buffet is expecting a cash by his actions not his words. He can't come out and say the market is looking like it might/will crash but it certainly seems like that is what he believes based on the fact Berkshire is holding 59% of thier investable assets in short term treasuries/cash/cash equivalents

https://www.wheresyoured.at/the-subprime-data-center-crisis/

Would love to hear your thoughts on this piece from AI bear Ed Zitron. It's a long read but he talks in great detail about:

• How data centre financing is hidden off balance sheets and comparable
• How it's all reliant on circular financing, which in turn all hinges on 2 (unprofitable) companies, Anthropic and OpenAI
• How data centre build-out is 15x overcapacity with little sign that there is actual demand to fill it - other than from the hyperscalers and Anthropic / OpenAI

I found the link between all this data centre funding and the subprime mortgage crisis a useful analogy. It's a really detailed piece into the financing and obfuscation of the whole AI/data centre rally, but keen to hear what more experienced investors think.

The most significant AMD AI-related deals and partnerships announced recently include:

1..Anthropic (announced today)

• Anthropic will deploy up to 2 gigawatts of AMD Instinct MI450 GPUs beginning in 2027.

• AMD committed to invest up to $5 billion in Anthropic, subject to deployment milestones.

• The companies will collaborate on optimizing Claude for AMD hardware and improving AMD's ROCm AI software stack.

2.. Microsoft (announced this week)

• Microsoft is expanding its use of AMD's AI infrastructure by deploying AMD's Helios AI platform for Azure AI services.

• The partnership also includes broader deployment of AMD EPYC processors and networking technologies across Azure. Financial terms were not disclosed.

3.. OpenAI (previously announced)

• OpenAI previously announced a multi-billion-dollar agreement to purchase AMD AI chips, centered on the MI450 platform, making it one of AMD's flagship AI customers.

CGT

On Tuesday Nvidia disclosed a 9.3% passive equity stake in Nebius Group, a Dutch AI cloud infrastructure company, Nebius shares were up nearly 19% while Nvidia itself ticked up almost 2%.

Nebius is one of the neocloud players, companies that buy huge amounts of Nvidia GPUs and rent out the compute to AI labs and enterprises who don't want to build their own data centers. It's like a landlord model for AI compute. CoreWeave is the most famous name in this category, Nebius is one of the fastest-growing challengers and it's been on a run this year because of long-term compute contracts with major AI labs.

The interesting thing is that Nvidia doesn't need the money and doesn't need the yield. What Nvidia gets is a guaranteed customer, every dollar Nebius raises to build out capacity is a dollar that very likely buys more Nvidia GPUs and every data center Nebius builds is more distribution for Nvidia's chips reaching AI labs that don't want to negotiate hardware deals directly with hyperscalers. This is the same playbook across the ecosystem this year, Nvidia financing GPU purchases for smaller cloud providers, OpenAI taking equity stakes from its own partners, chipmakers and labs increasingly owning pieces of their own supply and demand chains.

The timing is worth noting too, this stake disclosure comes shortly after reports that Meta poached a senior Nebius executive to help build Meta's own cloud compute selling business. Both things can be true and both are bullish like for Nebius, being worth stealing talent from and worth taking a stake in, both signal the market thinks this company matters.

Today actually matters a lot for how this whole AI story will be interpreted. Alphabet and Tesla report after the today's close and multiple outlets are already framing it as the real test of whether all this AI spending is translating into actual earnings. If Alphabet's capex guidance and Cloud numbers come in strong, this Nvidia-Nebius stake will start looking like a smart foresight. If they disappoint, every one of these ownership deals across the AI chain is going to feel maybe painful.

So does Nvidia taking equity stakes in its own customers strike as smart vertical alignment or does it add to an already a saturated AI ecosystem filling with of circular financing concerns.

I’ve been researching ASML as a potential 1–2 year swing/medium-term hold and wanted to get the sub's take on current valuation around $1700–$1850.

My basic thesis is that they essentially hold a total monopoly on high-end EUV lithography machines, which makes them the ultimate bottleneck for advanced semiconductor manufacturing (TSMC, Intel, Samsung, etc.).

A few questions for anyone following the stock closely:

1. Is 1–2 years too short of a horizon given semi-industry capex cycles?
2. How much of the High-NA EUV upside and AI demand do you think is already priced in at current multiples?

Would love to hear if you are buying at this level or waiting for a pull-back.

So for the past 10 days i've been looking into biotech stocks, and what makes them shoot up sometimes more than 1000 %

I'm therefore beginning to look into which biotech stocks would be interesting to invest in.
I've been trying to look for companies who is waiting or is in the process of getting PDUFA from FDA or are close somewhere around phase 2/3.

Im looking for companies in and around these phases mainly because from my research this is where the stocks usually rise a lot.

I've heard a lot of people talking about cancer stocks is where the big potential is, but damn its hard to find companies i like.

I have found a couple i like so as IOVA and VSTM.

I would like to hear your guys suggestions, do you hold any biotech stocks? which? and why?

THX

Hey everyone, I’m from Germany and I’m curious what non-German investors think about SAP ahead of earnings tomorrow. The overall mood in software / AI stocks feels pretty shaky right now, kind of like what we’ve recently seen with IBM. Do you think SAP can still surprise to the upside, or is the market already pretty cautious here.

the numbers are really good but recently software has been in a rough spot

SAP is gearing up for its Q2 earnings report, expecting $2.00 in EPS and $11.4 billion in revenue. The global enterprise carbon management software market, where SAP is a key player, is projected to grow significantly, enhancing SAP's market position. ~ yahoo finance

SAP makes about 7% of DAX.

what is your take?

European Union antitrust regulators said on Wednesday they had signed off on Paramount Skydance’s proposed acquisition of Warner Bros. Discovery.

The approval, which included concessions made by Paramount, came as the deal has been delayed in the U.S. due to concerns raised by state attorneys general.

A Paramount spokesperson didn’t immediately respond to comment.

In order to garner the approval, the European Commission said Paramount agreed to divest its stake in a film distribution joint venture with United International Pictures in Europe, and said it would not enter into any film distribution deal with Universal for the next 10 years in Europe.

“These commitments fully address the competition concerns identified by the Commission by ensuring that the films of the merged entity will not be distributed jointly with those Universal or Disney,” according to the EU’s release.

Summary

The Bank of Korea (BOK), in collaboration with major commercial banks and government financial authorities, plans to launch a 24-hour offshore won settlement network called BOK-WireInt in September, with full operations scheduled for January. This initiative allows foreign investors to settle Korean won transactions through home-country banks during their local business hours without needing accounts in Korea, accompanied by eased restrictions and higher thresholds on foreign exchange reporting.

Significance

• Overcomes Time-Zone Barriers: Operating 24 hours on business days eliminates the need for overseas investors to wait for South Korean business hours, dramatically reducing friction in foreign exchange and international settlements.
• Major Structural Overhaul: This represents the most substantial reform to South Korea's foreign exchange framework since the 1997 Asian financial crisis, reflecting a massive regulatory shift toward financial openness.
• Paves the Way for MSCI Developed Market Status: Improving currency accessibility addresses a longstanding obstacle in South Korea's ongoing bid to be upgraded to the MSCI Developed Markets Index.
• Drives Won Internationalization: By lowering regulatory hurdles and allowing offshore banks to handle won transactions, the initiative aims to boost global liquidity and turn the won into a more widely held international asset.

https://www.koreatimes.co.kr/economy/20260721/korea-to-launch-pilot-offshore-won-settlement-network-in-september

SK Hynix is officially denying market speculation that it will acquire Intel’s semiconductor production facilities in Ohio, United States.

Through a clarification disclosure on July 22, SK Hynix stated that it has neither pursued nor decided on the acquisition of Intel’s Ohio site and fab. Previously, some media outlets reported that SK Hynix was in negotiations with Intel to acquire the Ohio campus with the goal of producing memory semiconductors locally in the United States within five years.

The background to this acquisition rumor lies in Intel’s deteriorating performance and the adjustment of its investment plans. Intel is constructing two large-scale semiconductor plants in New Albany, Ohio, but has recently delayed the operational schedule from its original plan due to management difficulties. Intel has established a policy to complete the construction of the first fab in 2030 and begin operations around 2031.

SK Hynix added a principled position that it continuously reviews various investment and acquisition opportunities for business purposes. This is interpreted as an intention to maintain strategic options to respond to the rapidly changing semiconductor market environment, while denying the acquisition of a specific fab.

Currently, the production investment SK Hynix is officially pursuing in the United States is an advanced packaging plant in Indiana. The company is investing approximately $3.87 billion in West Lafayette to build High Bandwidth Memory (HBM) back-end processing and research and development (R&D) facilities. This facility is characterized as a back-end processing hub that stacks and connects produced chips, rather than a front-end processing facility that engraves circuits onto wafers.

The industry anticipates that if SK Hynix establishes even a front-end processing fab locally in the United States, it will entail a massive cost burden and operational risks. A semiconductor industry official explained, “Directly operating a front-end processing fab in a situation where manufacturing costs in the United States are high is a matter that requires close review in terms of profitability.”

Market experts forecast that SK Hynix will focus its capabilities on completing and operating the Indiana packaging facility for the time being. This is because securing back-end processing technological competitiveness is an urgent priority in a situation where HBM demand is surging due to the expansion of the artificial intelligence (AI) market.

However, if the scale of subsidies under the United States government’s CHIPS Act and demands for local production intensify, the possibility of reconsidering the acquisition of front-end processing facilities in the long term cannot be ruled out. SK Hynix plans to closely monitor market conditions and operate its investment strategy in a direction that can maximize corporate value.

https://www.businesskorea.co.kr/news/articleView.html?idxno=273424

I'm extremely bullish on nintendo. I have about 1500 shares at $12.70, so my money is where my mouth is.

I'm going to write a relatively detailed reasoning just because I couldn't find a strong opinion on google.

Nintendo is trading at such a low multiple - they are expanding (successfully) into a multi-media empire with movies, theme parks, video games, and merchandise. They own the 1st and 6th highest revenue IP's in history (Pokemon #1, Mario #6). Pokemon's ownership is only slightly complicated - nintendo co-owns the "Pokemon company" alongside game freak and creatures inc. Only nintendo will ever have pokemon, barring a change in the entire world. They also own 5 of the 20 best selling video game franchises of all time. (Mario, Pokemon, Wii (sports, etc), Zelda, nintendogs).

I doubt I need to go into how successful the poke park and universal theme parks have been - enormous cash cows. Nintendo is only thickening their war chest. (I hardly need to mention how huge the mario movies have been).

So what's the biggest reason nintendo has been struggling stock-wise? 2 reasons, actually. First, software bottleneck. Nintendo hasn't released games or news on games at nearly their usual cadence, and the games they're revealing are much lower prestige than mainline mario, zelda, pokemon, etc. - So what are the outcomes on that issue?

Either A) Nintendo starts releasing games????

or

B) Nintendo decides to roll over and go out of business for no reason???

So that's issue 1 solved - games are obviously coming. What's issue 2? Hardware/memory costs.

Guess what happens when memory chip prices totally bottom out? Nintendo gets a higher profit margin on their hardware, and they can still leave the console prices at new increased levels. New games drop, hardware cheaper to make... people buy everything.

Memory chips go down, nintendo margins go up, that crushes analysts expectations, boom.

I guess what is still missing here is my price target goalposts. I'll make it simple, I won't call an absolute top or bottom - but here's what I'm waiting to see; We're at a 3 year low (were exactly there 2 weeks ago), less than a year from all time highs, more profitable initiatives than in their history. There's still so much more I could say about the Pokemon anime, manga licensing, animated movies...

I'm expecting above 20 by the end of this holiday season. I'm expecting 30 by Q2 next year, I'm expecting 40 by EoY 2027, or Q1 2028.

Bottom line question is simple. Is nintendo going out of business, or are they going to expand in 20 directions?

Edit -=- It's in the mid 10's (like 10.60) today, an unbelievable price. Also, I'm not a financial advisor, so my expectations & conclusions should not be considered financial advice.

https://finviz.com/stock?t=CHTR&ty=c&ta=0&p=d

I was digging into Charter Communications (CHTR) and something caught my attention.

The stock performance has been… rough:

• 1Y: −67.8%
• 3Y: −67.6%
• 5Y: −82.3%

At the same time, CEO Chris Winfrey’s compensation structure remains very generous:

• New contract (Dec 2025):
  • Base salary: $2.5M minimum
  • Target bonus: 300% of base
• 2024 total pay: ~$5.75M
• 2023 total pay: ~$89M (driven by large equity awards)

Now yes ... a big part of this is stock-based, so in theory it's aligned with shareholders. And to be fair, a lot of that equity has lost value with the stock decline.

But here’s what I’m struggling with:

Even in a prolonged downtrend where shareholders have been heavily impacted, the compensation structure still produces multi-million payouts and large grants.

Is this actually good alignment with shareholders (because equity value fell)?

How is this not bigger news?

A Nikkei Asia investigation estimates that Alphabet, Microsoft, Amazon, Meta and Oracle have around $1.65 trillion in offbalance-sheet obligations tied largely to the AI infrastructure boom, more than their reported balance-sheet debt.

I can't find many major outlets covering this yet. Is the study being overlooked, or is the headline more sensational than the actual accounting?

Been digging into the Korea situation and honestly, the whole thing is kind of wild once you look past the P/E ratios.

SK Hynix at 5x forward earnings looks like a deal, and maybe it is. But this selloff isn't really a fundamentals story. It's a leverage blow-up, and the Korean government basically spent the last six years pouring gas on the fire.

Back in 2020, when covid hit and foreigners dumped Korean stocks, local retail traders jumped in. But then the government started calling them patriotic heroes. They banned short selling, made margin easier to get, lowered taxes. The whole vibe was "don't worry, we got you, just keep buying." And people did.

Fast forward a few years and they're still at it. Tax breaks for pulling money out of foreign stocks and dumping it into Samsung and SK Hynix. The national pension fund loaded up on these two names until it was way over its own limits, and instead of selling, they just rewrote the limits.

Then in May this year, someone had the bright idea to launch leveraged ETFs on Samsung and SK Hynix. The pitch was basically "let's make Korean stocks more exciting so people stop buying US tech and crypto." More than 90% of the buyers were retail. Now those ETFs have to sell every time the market drops, which makes the market drop more, and it forces more selling.

https://finance.yahoo.com/markets/article/supermicro-stock-jumps-on-gross-margin-raise-amid-record-60-billion-backlog-223037795.html

so is smci the next “ai picks and shovels” stock to get pumped up 40x?

it’s up 18% after hours because the company reported improving margins and (wait for it) a "massive $60b backlog".

this is a company with a long list of accounting and governance issues. to me, the fact that the market is willing to immediately look past all of that is another sign that we are in a serious ai bubble driven by speculation.

who is actually buying this thing after hours? surely serious institutional investors aren’t buying this stock, ... right?

These daily discussions run from Monday to Friday including during our themed posts.

Some helpful links:

• Finviz for charts, fundamentals, and aggregated news on individual stocks
• Bloomberg market news
• StreetInsider news
• Market Check - Possibly why the market is doing what it's doing including sudden spikes/dips
• Reuters aggregated - Global news

If you have a basic question, for example "what is EPS," then google "investopedia EPS" and click the investopedia article on it; do this for everything until you have a more in depth question or just want to share what you learned.

Please discuss your portfolios in the Rate My Portfolio sticky.

See our past daily discussions here. Also links for: Technicals Tuesday, Options Trading Thursday, and Fundamentals Friday.

why everyone is sleeping on oracle right now full dcf breakdown and why orcl is an easy 200% and more in the long term from here.
i spent the last few hours diving deep into oracle's recent FY2026 10-k and latest 10-q filings because the market is completely blind to what is actually happening under the hood. if you look at the math and actual financials from 2025 and 2026, this stock is primed for a 200% profit if you get in right now.
right now the current stock price is sitting around $125.84 per share, dropping hard from its 52-week highs near $345 because Wall Street is freaking out over heavy AI spending and data center buildouts.
look, i want to be realistic here - even though current prices are a steal, there are still risks that the price could keep dropping toward $90usd or so if macro volatility stays nasty or if near-term capex fears drag it down further. a temporary 30% drop is totally possible in the short term. but the win ratio on this setup is insanely high, giving you essentially a 200% profit upside long-term against that temporary downside.
lets talk raw data from the reports. oracle just closed out fiscal year 2026 with $67.4 billion in total revenue, up 17% from $57.4 billion in fiscal 2025. cloud infrastructure (oci) blew past expectations, growing 77% year over year to $18.1 billion, with Q4 oci alone surging 93% to $5.8 billion. but the single craziest stat from their Q4 10-Q / 10-K disclosures is their remaining performance obligations (rpo), which skyrocketed to $638 billion. that is $638B in contracted revenue backlogged and ready to convert into cash as their multi-cloud deals with microsoft, google, and aws keep scaling up.
when you look at enterprise value and multiples based on the current $125 price, oracle's ev is sitting around $545 billion to $560 billion against FY2026 non-gaap operating income / ebitda of $28.9 billion (up 16% from $25.0 billion in FY2025). that puts their ev/ebitda multiple at roughly 18x to 19x, which is absurdly cheap for a company growing cloud infra at over 90% while legacy tech plays trade at 30x+ multiples. operating cash flow for 2026 hit a record $32.0 billion, up 54% from $20.8 billion in 2025. free cash flow took a hit because they dumped over $40 billion into datacenter capex to buy GPUs and expand capacity, but that capex converts straight into massive recurring cloud revenue.
doing a discounted cash flow (dcf) calculation on this - if you model out their baseline free cash flow once datacenter capex normalizes over the next 3 to 5 years, plug in a conservative 22% cloud revenue cagr backed by that huge $638B rpo backlog, use an 8.5% wacc and a 3.5% terminal growth rate, the intrinsic value comes out way higher than where shares trade today at $125. even when factoring in their $85 billion in total debt and recent note offerings, the dcf model proves that orcl is severely undervalued and buying at current prices easily sets you up for a 200% gain as high-margin cloud revenue flows down to net income.
the market is panicking over near-term capex and debt needs, but they are totally ignoring that oci is becoming the core cloud backbone for big tech ai workloads while printing record non-gaap eps of $7.63 in FY2026 (up 27% from $6.03 in FY2025). this thing is going to compound like crazy.

Tesla already released its operational numbers: 480,126 vehicles delivered, a record, up 25% year over year, production at 451,758. Full financials drop tonight after market close.

Tesla itself says deliveries alone don't tell you much about profit, average selling price, costs, and FX still matter.

Here's what's actually worth watching once the numbers are out:

1. Automotive economics. A delivery increase can still coexist with margin pressure. Watch gross margin, regulatory credits, pricing, and cost per vehicle, not just the growth headline.
2. Did growth convert into cash? Free cash flow can swing hard quarter to quarter from inventory and capex timing. One print isn't the whole story.
3. How much of the AI spend is productive now versus still a bet on the future? Compare capex growth against actual milestones, not the narrative around it.
4. What's the real evidence on robotaxi and autonomy? Deployment, safety data, and paid usage are stronger signals than demo videos. A pilot and a scalable network are very different stages.
5. Is Optimus becoming an actual business, or still pure optionality? Track production, reliability, and unit cost rather than folding it into the core business without a real discount.

What's the one number you're actually watching for tonight?