Blake Anderson
Apple’s First Event Under John Ternus
Apple’s annual product debut event ushered in a new era for the company. Mr. Tim Cook hosted the past 15 annual events as CEO, but Mr. John Ternus was promoted to CEO effective September 1st. Mr. Ternus inherits an impeccable execution track record that Mr. Cook built – zero major product recalls and the number …
Blake Anderson
September 11, 2026
Software’s Selloff (Turned Surge)
Earlier this spring, I authored ‘Software’s Selloff’ and ‘Software’s Selloff (Revisited)’ detailing the price deterioration across stocks within the software industry. Analyzing data from past software selloffs hinted at some key takeaways: the selloff was ‘young’ in February (and could have taken longer to bottom), and it was deep enough that investors could have expected …
Blake Anderson
September 1, 2026
Nvidia’s Bullish Forecast
Nvidia’s results and forecast last night speak to the overwhelming strength of technology spending that appears to be continuing. The company handily beat expectations and used the earnings call to reinforce the idea that AI is rapidly being adopted by enterprises and consumers alike. In the face of investors questioning Nvidia’s role in future AI …
Blake Anderson
August 27, 2026
Moderna’s Melanoma Milestone
Shares of Moderna surged a whopping +177% last Wednesday. The move came on the heels of a milestone readout from a medicine in its oncology portfolio known as Intismeran. Intismeran is a personalized cancer treatment designed to help the immune system recognize and attack a patient’s cancer cells based on the unique mutations in that …
Blake Anderson
August 25, 2026
K-Shaped Consumer Stocks
Consumer discretionary stocks have seen a wide dispersion of returns this year. To me, part of the answer may be explained by a K-shape in business models, not necessarily the targeted demographics of each company. Many consumer discretionary stocks that have done well this year may be classified as on-demand pricing models, whereas many of …
Blake Anderson
August 17, 2026
ROCs & SOCs Revisited
The divergence in performance between the ‘Receivers of Capital’ and ‘Spenders of Capital’ has narrowed in recent weeks. Before this latest earnings season, the relative performance was suggestive of value being transferred from spenders to receivers, rather than being mutually created. However, this earnings season lent credence to the idea that the spenders are still …
Blake Anderson
August 10, 2026
Other Tech Earnings Highlights
Palantir and SpaceX moved in opposite directions following their respective earnings reports. Both companies detailed the significant drivers of their AI-focused business and how they’re making the most of the current environment. Palantir’s Pop Shares of Palantir logged their second-best day ever following the company’s earnings report, popping +29% on Tuesday. Investors cheered the company’s …
Blake Anderson
August 6, 2026
Technology Earnings Review
Investors digested earnings reports from some of the largest tech companies in the past two weeks. The all-important capital expenditure guidance moved higher for this cohort, reflecting perhaps both ambitious spending desires and tangible profits. Microsoft and Amazon detailed some of the early payoffs they’re seeing, though Alphabet and Meta investors felt a bit queasy. …
Blake Anderson
August 3, 2026
ROCs & SOCs – The AI CapEx Debate
As technology earnings season approaches, investors face historic dispersion in returns. The receivers of capital (“ROCs”) of this hyperscale-led capital spending boom are vastly outperforming the spenders of capital (“SOCs”). In my opinion, this widening dispersion could bring about a narrative change within this debate. Positive Correlation ROCs and SOCs can live harmoniously. For the …
Blake Anderson
July 24, 2026
Technology Earnings Preview
Technology earnings season for the second quarter is fast approaching. Investors are facing the most divergent performance among sector constituents in recent history, with semiconductors having surged in performance while software continues to struggle. Capital expenditures and revenue growth are likely to be under scrutiny this earnings season as companies try to show they’re on …
Blake Anderson
July 13, 2026