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Everything R40 has published, grouped by sector

188 pieces · updated Aug 23, 2026

Mega-Cap Tech36AI Infrastructure34Fintech29Consumer25Semiconductors17Enterprise SaaS16Healthcare13Banking & Finance8Networking & Security6Energy & Materials4

Mega-Cap Tech

36 pieces
BABA News Alibaba Is Selling 710 Million New Shares to Fund AI. Is Baidu Next? NVDA Preview NVIDIA Q2 FY2027 Earnings Preview TSLA News Tesla Named 2,500 Robotaxis in a Year as an Ambition. Our Model Assumes 3,315, and the Only Measured Rate Is 601. TSLA News Tesla Retired the Solar Roof and Reorganised Home Energy Around Two Products. Our Model Prices the Whole Solar Line at $3.63 a Share. TSLA News Nevada Granted Tesla All 5,000 Robotaxis. On Our Model That Is Worth 33 Cents. GOOGL News Waymo's Custom Silicon Is a Real Step Down in Cost. At $125,000 a Car Against a Cybercab We Put at $20,000-$30,000, It Is No Threat Yet to Tesla's Scale. BABA Earnings Alibaba's Cloud Grew 45% and Its Free Cash Flow Fell to Negative $6.6 Billion. We Bounded the Quarter at +0.9 to +7.2 and It Printed −1.9. AMZN News Amazon and Uber Both Promised a Million Drone Deliveries This Week. Amazon Means a Year, Uber Means a Day. BABA Preview Alibaba Has Burned $6.6 Billion Buying an AI Business and a Retail War. Thursday Is the First Quarter That Can Show Either One Paying. NVDA News Beijing Let 20,000 H200s In. NVIDIA's Outlook Assumes Zero China Revenue, and 20,000 Chips Is Smaller Than the Rounding on One Quarter's Guide. MSFT News GitHub Was Microsoft's Best Acquisition. SpaceX Just Shipped Cursor's First Gem At It. TSLA News Tesla Will End 2026 With About Six Cybercabs Built for Every One Carrying a Passenger TSLA News The Largest Tesla Semi Order Ever Announced Is 500 Trucks. Nevada Is Designed to Build That in Under Four Days. TSLA News Tesla Has About 34 Million Square Feet. SpaceX Has About 5. Terafab Alone Is 100 Million. BABA News Alibaba Joins Coverage With a Rule of 40 of About One NVDA 13F Nvidia's Disclosed Stock Portfolio Grew $45 Billion Last Quarter. It Bought One Thing. TSLA News 79 Robotaxis Is $5.5 Million a Year. Tesla Needs About 14,800 to Move Revenue by 1%. TSLA News Tesla's 50 GWh Megapack 3 Line Is Worth $10 Billion of Revenue. The Question Is Which Year. GOOGL News Alphabet's Rule of 40 Moved Six Hundredths of a Point in a Year. Both Halves Moved More Than Ten. META News Meta Fell Below 40 for the First Time in Three Years — Because It Stopped Being the Kind of Company the Rule of 40 Describes NVDA News In February We Warned That Beating Wouldn't Be Enough. Nvidia Beat, Then Grew Another 20%. AAPL Earnings Apple Q3 FY2026: Tim Cook's Final Quarter as CEO — a Beat That Still Cost Investors Billions AMZN Earnings Amazon Q2 2026: AWS Reaccelerates to 37% Growth, Stock Jumps 8%+ After Hours AMZN News The AI Capex Bet, Six Months In: What the Mag 7 Actually Spent (and What the Market Learned) META Earnings Meta Q2 2026: Revenue Beat, Profit Fell 14%, Free Cash Flow Cratered — Stock Down 9% MSFT Earnings Microsoft Q4 FY2026: Azure Hits 43% Growth, Stock Jumps 8.9% — the Hyperscaler That Got It Right GOOGL Earnings Alphabet Q2 2026: Cloud Grew 82% and Margins Expanded — Stock Fell 7% Anyway TSLA Earnings Tesla Q2 2026: Record Revenue, Record Deliveries — Stock Falls 14% on Margin Collapse AAPL News Apple Just Posted Its Best Quarter Ever. Buffett Kept Selling. NVDA Preview Nvidia Reports Next Week. Wall Street Has Never Been This Confident. META News Bill Ackman Drops $2B on Meta, Calls It 'Deeply Discounted' AMZN News Amazon's $200B AI Bet Triggers Worst Selloff in a Year TSLA News Tesla's Robotaxi Fleet Is Growing Quietly — And the Numbers Are Starting to Matter AMZN Earnings Amazon Q4 and Full Year 2025 Earnings Analysis AMZN News The $700B AI Bet: Inside the Mag 7's Record 2026 CapEx Arms Race AMZN Preview Amazon Q4 2025 Earnings Preview: Why Wall Street Keeps Underestimating Bezos's Machine

AI Infrastructure

34 pieces
BE News Bloom Energy Joins the Site at a Rule of 40 Score of 182, With the Stock 42% Off Its June High SPCX News Deutsche Bank's $100 Billion SpaceX Run Rate Implies a December Bigger Than All of Q2 RKLB News Rocket Lab Is Buying $884 Million of Iridium Revenue at 9x Sales. Its Own Enterprise Value Sits at 58x. SPCX News SpaceX Paid $19.6 Billion for Spectrum That Earns Nothing Until 2028. On Our Own Model It Breaks Even at 23 Million Handsets. SPCX News SpaceX Has 28 Starlink Gateway Applications Pending at the FCC. On Our Model's Subscriber Path They Cover 9% to 20% of the Growth. SPCX News On Our Model SpaceX's 8,000-Launch Ladder Is Worth $314 a Share. The Rung That Can Be Graded by Next August Is Worth $7.47. SMCI News Supermicro's Board Review Found No Evidence That Current Senior Management Knew. That Clears One More Blocker Between $37.00 and Our $60.79 Base Case. CRWV News CoreWeave's Rent Is Bigger Than Its Debt: $64.6 Billion of Lease Payments Against $35.1 Billion of Borrowings. The Filing Leaves a $14.7 Billion Lease Out of That Total. NBIS News Nebius Announced $4.5 Billion More of Convertibles. The Ones It Already Has Carry 1% to 3% Coupons and Are Booked at 4.15% to 7.06%. SPCX News Taking Half of Anthropic and OpenAI's Revenue Would Be Worth $27.84 a Share to SpaceX CBRS News Cerebras Just Shipped an Inference Machine With No HBM. It Holds 132 Gigabytes on Wafer, and the Models It Advertises Need 50,000. IREN News The Neocloud "Revenue per Megawatt" Ranking Is Measuring Contract Length, Not Efficiency SPCX News What 2.25 Million Tonnes a Year Actually Buys: Half to Starlink, Half to Compute, and Thirty-One Starship Launches a Day SPCX News Starlink's 7,000 Aircraft Are Not 7,000 Aircraft, and the 1,400 Everyone Quotes Is From Last Year's Report CBRS Earnings Cerebras' First Full Quarter as a Public Company Cost 30 Points of Gross Margin NBIS Earnings Nebius's Run Rate Says $3 Billion. Its Income Statement Says $582 Million and a Loss. CRWV Earnings CoreWeave's Operating Leverage Arrived. So Did $640 Million of Interest. SMCI Earnings Supermicro Beat Every Estimate on the Street. Then It Guided the Margin Away. CRWV Preview CoreWeave Earned $21 Million of Adjusted Operating Income Last Quarter and Paid $536 Million of Interest SMCI Preview Supermicro Already Told Us the Revenue Missed and the Margin Doubled. Tonight Is About Which One Matters. ASTS News AST SpaceMobile Burned $695 Million in the June Quarter. Its $3.7 Billion of Pro Forma Cash Is Five More Quarters of That. SPCX News SpaceX Has Bought $835 Million of Megapacks. Musk's 10 GW Target Needs Nine to Twenty-Four Times That. SPCX Earnings SpaceX's First Print Answered the AI Question and Made the Cash Question Unanswerable SPCX News Shotwell Put the Big Three at $600 Billion a Year. Their Revenue Is $352 Billion, and the Traffic Math Says They Survive. DELL News Dell Nearly Doubled Its Revenue and Booked the Thinnest Gross Margin in Its Series in the Same Quarter ORCL News Oracle Burned $23.7 Billion Building the AI Boom. We Wrote the Capex Retrospective and Left It Out. SPCX Preview SpaceX (SPCX): What We Know Before Its First Earnings Report as a Public Company NBIS News Nebius and IREN: How Two AI Infrastructure Highfliers Fell 40–60% From Their Highs VRT Earnings Vertiv Q2 2026: Guidance Raised, EPS Beat — Stock Falls on a Revenue Timing Miss SMCI News Super Micro Books $60 Billion in New Orders — Even as Full Q4 Revenue Lands Near the Low End DELL Earnings Dell Q1 FY2027: AI Server Revenue Grew 757% to $16.1B, Stock Posts Its Best Day Ever VRT News Vertiv's Orders Just Grew 252%. The AI Infrastructure Supercycle Has a Receipt. NBIS News Nebius Just 6x'd Its Revenue. Wall Street Yawned. IREN News IREN Joins the MSCI USA Index. A Year Ago It Was a Bitcoin Miner.

Fintech

29 pieces
HOOD News Robinhood's Event Contracts Cross $1 Billion of Annual Revenue in 2028 in Our Model. Bernstein Has Them 37% Higher, and the Whole Line Is Worth $14.80 a Share. AFRM Preview Affirm Guided the June Quarter to an 11.5% Operating Margin at Best. The Street's Top Estimate Needs 15%, and Affirm Has Already Flagged the One-Off That Could Bridge It. XYZ Earnings Block's Rule of 40 Says 20. Its Gross Profit Grew 25%. Only One of Those Describes the Business. UPST Earnings Upstart Returned to GAAP Profit and Burned $139M Doing It COIN News Coinbase's Revenue Has Fallen 40% in Five Quarters. Our Last Piece Led With the Mix. HOOD News Robinhood's Newest Revenue Line Is Now Almost Exactly the Size Its Most Famous One Used to Be PYPL News We Covered PayPal Firing Its CEO, Then Covered a Quarter Under the New One Without Ever Naming Him SOFI News We Published Four Bank Capital Ratios in One Week. The Highest One Got the Most Sceptical Adjective. HOOD News A Prediction Market Priced Robinhood's Own Launch at 24% — One Quarter Later That Line Booked $156M SOFI News SoFi Did Not Join the S&P 500 in March. We Made the Case Twice and Asked Whether It Would — and Named the Company That Took the Slot. XYZ Preview Block (XYZ): The AI-Efficiency Rebound Faces Its Next Test on August 5 COIN Earnings Coinbase Q2 2026: Bitcoin Is Down to 12% of Revenue — and the Stock Still Fell on the Miss HOOD Earnings Robinhood Q2 2026: A 38% EPS Beat, Record Revenue — and Still a Two-Day Slide LMND Earnings Lemonade Q2 2026: The Numbers Were Fine. A CFO Transition Wasn't — Stock Down 24% SOFI Earnings SoFi Q2 2026: Record $1.22B Revenue, Guidance Raised — Stock Falls 10% Anyway PYPL Earnings PayPal Q2 2026: Volume Beats, Guidance Raised, Margins Slip — Stock Shrugs PYPL News PayPal Fired Its CEO, Missed Earnings, and a Senator Bought the Dip COIN News Coinbase Lost $667M Last Quarter. The Stock Rallied 16%. HOOD News Cathie Wood Just Bet $50M on Robinhood While Wall Street Runs for the Exits LMND Preview Lemonade Q4 2025 Earnings Preview: AI Insurance Has a Profitability Problem HOOD Earnings Robinhood Q4 2025: Record $1.28B Revenue, $1.9B Annual Profit — The SuperApp Era Begins HOOD News Robinhood Launches Ethereum L2 Testnet — Building the Rails for Tokenized Finance HOOD Preview Robinhood Q4 2025 Earnings: What X Is Saying Ahead of Tonight's Report UPST News Upstart's Quiet Revolution: Paul Gu Takes the Helm UPST Preview Upstart Q4 2025 Earnings: AI Lending's Turnaround Quarter? HOOD News Robinhood's February Dip: Gift or Trap? HOOD Surges 14% After Crypto-Driven Selloff SOFI News SoFi's Post-Earnings Crash: Was the 17% Dip a Gift? Noto 'Takes It Personal' SOFI News SOFI: S&P 500 Inclusion — March 2026 the Date? AFRM Preview Affirm Q2 FY2026 Earnings Preview: The BNPL Turnaround Story Wall Street Is Still Underpricing

Consumer

25 pieces
UBER News The Dutch Regulator Has Fined Uber Four Times Since 2018. The Total Is €1.13 Billion and 73% of It Landed This Week. WMT Earnings Walmart's Two Earnings Measures Landed a Penny Apart. That Took a $0.12 Investment Loss and a $0.11 Tax Benefit Cancelling Out. WMT Preview Walmart Reports This Morning Against a $0.74 Adjusted Consensus. The Gap to the GAAP Line We Store Has Swung 41 Cents in Four Quarters. HD Earnings Home Depot's Gross Margin Rose 25 Basis Points. A $685 Million Customs Refund Was Worth 145. XIACY Earnings Xiaomi Raised Phone Prices 26%. Its Phone Margin Fell to 8.5% Anyway. BIDU Earnings Baidu Tripled Its Capital Spending and the Rule of 40 Fell 18 Points BIDU Preview Baidu Reports Tuesday With 13 Points of Gross Margin Gone DASH Earnings DoorDash Broke Out of Its Rule of 40 Band and Missed on EPS Anyway DASH Preview DoorDash Reports Tonight With a Rule of 40 Score Stuck in the Mid-Forties and an EPS Line That Keeps Falling UBER Earnings Uber's Rule of 40 Score Did Not Move. The Stock Fell 5% and the Market Cap Is Now 1.1x Waymo. GRAB Earnings Grab's Cash Flow Turned Positive. Its Record Profit Barely Came From Operations. COST News Costco's Fourth Quarter Is Sixteen Weeks Long. That Is Why Its Revenue Appears to Jump 36% Every Summer. GRAB Preview Grab Tripled Its Gross Margin and Still Cannot Hold Free Cash Flow Above Zero PG News P&G's Fastest Growth in Twenty-One Quarters Landed in a Quarter Its Revenue Fell. Both Halves Are Artifacts. UBER News Uber's Gross Margin Broke an Eleven-Quarter Band by 5.5 Points. Most of That Is an Accounting Change That Took Effect on Day One of the Quarter. NFLX News Netflix's Rule of 40 Fell 32 Points in a Quarter. The Margin It Actually Steers On Went Up. WMT News In February We Told You What Wall Street Expected From Walmart. Here Is What Happened — and Why Our Own Data Would Have Said It Missed by 27%. UBER Preview Uber Heads Into Q2 2026 Earnings on August 5: Ads Scale, AV Bets Multiply, GAAP EPS Stays Noisy CVNA Earnings Carvana Q2 2026: Record Everything — Revenue, Profit, Units — and the Stock Still Fell 20% KO Earnings Coca-Cola Q2 2026: World Cup Boost Drives a Beat, Full-Year Guidance Raised, Stock Hits an All-Time High NFLX Earnings Netflix Q2 2026: The Numbers Were Fine — the Disclosure Cut Wasn't. Stock Hits 52-Week Low CVNA News Carvana Reports Tonight With a $1B Accounting Cloud Hanging Over It WMT Preview Walmart Reports Tomorrow as the World's First $1 Trillion Retailer DASH Preview DoorDash Reports Today Down 28%. Wall Street Still Says Buy. NFLX News Netflix Hits 52-Week Low at $79 as Warner Bros Deal Drama Drags On

Semiconductors

17 pieces
AVGO News Broadcom Is Reported to Be Raising $60 Billion for AI Chip Deals. Its Own 10-Q Already Named the Number That Lands on Broadcom: a $29 Billion Lease Backstop. MU News China's Largest Memory Maker Earned a 49% Net Margin Last Quarter. It Is Not Deflating the Memory Cycle — It Is Being Paid By It. MRVL News Google's $12.2 Billion Marvell Warrant Is What Google Would Pay, Not What It Gets. Ninety-Eight Percent of It Vests Against $120 Billion of Revenue. SKHY News SK hynix Approved ₩54 Trillion of New Fabs Twelve Days Before Its ₩40 Trillion Buyback. The Buyback Is Not Capacity Discipline. SKHY News SK hynix Tripled Its Revenue in a Year and Listed on Nasdaq a Month Ago TSM News TSMC Added 14 Points of Gross Margin While Tripling Its Quarterly Revenue AMD Earnings AMD's Best Growth Quarter Was Its Worst Cash Quarter, and the Rule of 40 Barely Moved SNDK Earnings Sandisk Guided to $8.25 Billion and Printed $8.97 Billion at an 84.6% Gross Margin MU News Our Explainer Prints −884 for One Company. Micron's Newest Filed Quarter Computes to 388. It Is the Same Metric Failing at Both Ends. MU News We Said Micron's HBM Business Wasn't Cyclical Any More. Two Filings Later, Gross Margin Went From 37.7% to 84.6%. AMD Preview AMD Reports Q2 on August 4, and the Number That Looks Like a Stall Isn't One SNDK Preview Sandisk Heads Into Q4 FY2026 Earnings After a Record Quarter and a Brutal July Selloff INTC Earnings Intel Q2 2026: Best Revenue Quarter in 15 Years — and an $11 Billion GAAP Loss AVGO Earnings Broadcom Q2 FY2026: AI Revenue Grew 143%, Guided to Grow 200%+ Next Quarter — Stock Still Fell MRVL Earnings Marvell Q1 FY2027: Record Revenue on Custom AI Silicon, Nvidia Calls It a Future Trillion-Dollar Company MU News Micron Just Sold Out Its Entire 2026 HBM Capacity INTC News Intel's Supply Paradox: Record CPU Demand Meets Empty Shelves Under Lip-Bu Tan

Enterprise SaaS

16 pieces
CRM Preview Salesforce Spent $27.1 Billion on Its Own Shares in One Quarter, Funded by $25 Billion of Debt. The 12% Earnings Growth It Guided for Wednesday Is That Share Count, Not More Profit. SNOW News Snowflake Joins Coverage at a Rule of 40 of 50. The Same Score Read 37 Two Quarters Ago and 90 One Quarter Ago, and Nothing About the Business Changed. DDOG Earnings Datadog's Growth Accelerated to 36% and Its Rule of 40 Went Down SHOP Earnings Shopify's Best Rule of 40 Score in Five Quarters, and Its Gross Margin Kept Falling U Earnings Unity's Rule of 40 Doubled to 61. A Third of the Revenue It Didn't Grow, It Sold. CRM News In February We Named Three Companies That Would Answer the AI Demand Question. Salesforce Is the One We Never Wrote. PLTR News Palantir Is Scoring 139 on the Rule of 40 — and Both Halves Are Still Rising PLTR Preview Palantir Reports Tonight, and the Only Number We Can Update Is the One That Was Never the Problem PLTR News Palantir's Q2: Revenue Up 92.8%, Cash Margin 62%, Rule of 40 of 155 DDOG News Our Own Explainer Says the Rule of 40 Captures Stock Compensation 'Not Perfectly'. Here Is How Imperfectly. U Preview Unity's Best Rule of 40 in Years Came Out of the Quarter Its Gross Margin Fell to 31% DDOG Preview Datadog: Growth Reaccelerated to 32% Last Quarter — Q2 2026 Earnings Land August 6 NOW Earnings ServiceNow Q2 2026: A Beat That Cleared the Real Bar, Not Just the Official One NOW News ServiceNow Is Down 45% While Beating Every Estimate. The Market Is Scared of the Wrong Thing. U News Unity Beat Earnings and Crashed 34%. Here's Why. SHOP Earnings Shopify Q4 2025: $3.67B Revenue Beat, $2B Buyback — So Why Is the Stock Down?

Healthcare

13 pieces
HIMS News Hims's Cancer Test Costs $699, Not the $250 We Printed in February. WHOOP Now Sells the Same Test for $799 With No Subscription at All. MRNA News Moderna Doubled on a Phase 3 Readout. The Business Underneath It Books $2.2 Billion a Year and Burns $1.2 Billion. HIMS Earnings Hims Got Its Growth Back. The Profit Guidance Went Down. LLY Earnings Lilly's $3.80 Consensus Range Was a Disagreement About One Line. The Business Printed $8.38. LLY Preview Eli Lilly Reports This Morning and the Consensus Is $5.28 to $9.08 HIMS Preview We Covered Hims Four Times in Eight Days, Then Went Quiet for Six Months. It Reports Monday. ABBV Earnings AbbVie Q2 2026: Skyrizi and Rinvoq Keep Compounding — Stock Falls on a Narrow EPS Miss UNH News UnitedHealth's First Revenue Decline in Decades. The $439B Guidance Problem. HIMS News HIMS Perfect Storm: FDA, DOJ, and Novo Nordisk Close In — Stock Down 75% From Highs HIMS News HHS Refers Hims to DOJ for GLP-1 Drug Investigation HIMS News HIMS Enters Cancer Diagnostics with $250 Galleri Test HIMS News Hims Launches $99 GLP-1 Pill, Undercuts Novo Nordisk by 90% HIMS News FDA Reversal on Semaglutide Pill Compounds: What It Means for HIMS

Banking & Finance

8 pieces
GS News Two Segments Named Platform Fell Off a Cliff in the Same Quarter. One Was the Plan, the Other Was a Customer Leaving. BRK-B Preview We Said Buffett's Apple Selling Was the Statement. Apple Then Became the Most Valuable Company in the World. MA Earnings Mastercard Q2 2026: Beat and Raised Margins — Stock Barely Moves V Earnings Visa Fiscal Q3 2026: Payments Volume Crosses $4 Trillion — Then the Company Cut Jobs SCHW Earnings Charles Schwab Q2 2026: Record Revenue, Guidance Raised — Stock Fell Anyway BAC Earnings Bank of America Q2 2026: EPS Up 34%, Every Segment Firing — Stock Barely Moves GS Earnings Goldman Sachs Q2 2026: Record Revenue, EPS Up 92% — And the Stock Got the Memo JPM Earnings JPMorgan Q2 2026: Record $21.2B Profit — and Dimon Warns It 'Feels Like 2007'

Networking & Security

6 pieces
CRWD Preview CrowdStrike's Entire Guided EPS Range Fits Inside One Post-Split Cent, and Consensus Is Sitting On It. The Only Line Wednesday Can Surprise On Is $285 Million of Net New ARR. NET News Cloudflare Is Still Growing 36%. It Has Paid Six Points of Gross Margin to Do It. CSCO Earnings Cisco Guided Fiscal 2027 to Grow Faster Than Fiscal 2026. Its Gross Margin Went the Other Way. CRWD Earnings CrowdStrike Q1 FY2027: Record Net New ARR, Raised Guidance, and a First-Ever Stock Split PANW News Palo Alto Beat on Everything. The Stock Dropped 6%. CSCO News Cisco's AI Networking Bet Is Paying Off — Wall Street Doesn't Care

Energy & Materials

4 pieces
XOM News Guyana's Stabroek Share Jumped 25 Points on August 18. Exxon Had Already Told Investors on July 31 That It Costs 100,000 Barrels a Day. AMCR Earnings Amcor Grew Sales 57% in a Year Its Volumes Fell. Now the Fiscal Year Itself Is Changing. CVX Earnings Chevron Q2 2026: Profits Nearly Quadruple as Middle East and Venezuela Turmoil Send Oil Prices Soaring OXY Preview Occidental (OXY): Oil-Price Spike Meets the Buffett-OxyChem Cleanup Ahead of August 5 Earnings