Blake Anderson
The Fantastic Five Deliver on Earnings
Apple, Amazon, Alphabet, Microsoft, and Meta delivered earnings reports that largely lived up to investors’ expectations last week. Their financial results paint a clear picture: AI is driving earnings growth even amidst record spending levels. While some investors may fear we’re in a ‘build and hope’ cycle, the results and commentary of this earnings season …
Blake Anderson
May 4, 2026
Tech Priors Confirmed
Tech investors last week digested earnings reports that largely confirmed prior beliefs: semiconductors remain vibrant, while software remains challenged. Intel’s report highlighted the fundamental strength investors expected as AI agents grow. In contrast, ServiceNow’s report failed to meet expectations despite some optimistic commentary. Intel’s Agentic Outlook Shares of Intel traded to a new all-time high …
Blake Anderson
April 27, 2026
Strong Consumer Drives Bank Earnings
Bank earnings this week offered a timely reminder that the U.S. consumer remains a far more durable force than many narratives suggest. The data produced by the largest financial institutions paints a picture of accelerating growth and improving credit quality, a combination not often seen. Banks are also finding themselves increasingly tied to the AI …
Blake Anderson
April 20, 2026
Financials’ Tech Exposure Weighs on Returns
Financial stocks have gotten off to a rough start in 2026. While some are raising alarms about deteriorating credit conditions or systemic stress building beneath the surface, the sector’s recent struggles may be tied more to technology. Beneath the headline weakness, the structure and drivers of financial sector performance have evolved in ways that challenge …
Blake Anderson
April 13, 2026
Big Tech on Trial
Two separate verdicts last week challenge the protective moats Big Tech companies have long enjoyed. While the near-term financial penalties imposed are not especially burdensome, the potential long-term remedies introduce significant emerging risks to social media business models. Investors may just be waking up to the implications. Section 230 Protections Content platforms such as Meta …
Blake Anderson
March 30, 2026
Micron’s Momentum
Micron’s earnings report last week continued the key theme of AI-related companies shattering expectations. The company reported $23.9 billion in sales against their guidance of $18.7 billion. This $5.2 billion beat compared to their expectations is the largest upside surprise in the company’s history and reflects the underlying momentum the semiconductor industry is experiencing. To …
Blake Anderson
March 23, 2026
Chatbots Drive Business Growth
By Blake Anderson, CFA®, Associate Portfolio Manager Investors received concrete proof points that LLMs and chatbots are beginning to act as business generators, not just efficiency imperatives. What began as an internal productivity story is steadily evolving into a top-line growth narrative. Instead of merely reducing costs, AI interfaces are increasingly shaping customer discovery, influencing …
Blake Anderson
March 9, 2026
Nvidia’s Record Results
By Blake Anderson, CFA®, Associate Portfolio Manager The Numbers Nvidia’s latest quarterly results exceeded both the company’s and investors’ expectations. The company posted quarterly revenue of $68.1 billion, which exceeded the $65.0 billion of revenue the company guided for. This $3.1 billion beat compared to their guidance marks the company’s largest-ever beat, exceeding last quarter’s …
Blake Anderson
February 26, 2026
Software’s Selloff
By Blake Anderson, CFA®, Associate Portfolio Manager 2026’s ‘Tech Wreck’ continues as investors extend their selloff in technology-related stocks. Investors have shied away from this industry as concerns about AI-fueled disruption to their core business models have risen. For investors with exposure to software, it may be informative to assess whether current prices signal valuation …
Blake Anderson
February 17, 2026
Tech Wreck
By Blake Anderson, CFA®, Associate Portfolio Manager Software-focused technology firms are among the weakest stocks so far this year. The pace and magnitude of this drawdown rival other notable bear markets and might have some investors calling 2026 a ‘tech wreck.’ Yet this weak price action – largely fueled by fear of AI disruption – …
Blake Anderson
February 6, 2026