Happy Sunday. Equities were up this week with SPX +1.6%; QQQs +3.5% while yields ticked lower on the back of a cooler CPI, AAPL’s WWDC which got investors excited about the next iPhone cycle, and a round of TMT earnings which surprised to the upside. Summer is almost officially here and things should finally begin to slow down after a week where we got our last big earning prints until mid-July. And quite the prints they were…
Two of our favorites — ORCL and AVGO — both up double digits following their prints.
ORCL headlines #s weren’t great — and several things to nitpick such as lower FCF and weak guide — but we thought the accelerating RPO #s + partnerships with MSFT/GOOGL/OpenAI+ better F25 guide + positive AI commentary ($12.5B in new AI contract signings) was enough to give them a seat at the exclusive “AI software beneficiary table” along with MSFT (PLTR lurks in the wings at the kids table). At $140, the r/r dynamics have changed — readers know we had been pitching ORCL hea…
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