Blake Anderson
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
Bank Earnings Preview
Second-quarter bank earnings are around the corner, and expectations are perhaps correctly elevated across the board. Many of the larger firms in the sector may have just seen record-breaking quarters thanks to robust capital markets activities driven by equity issuances. And many of the smaller firms may be benefitting from robust lending and banking activity …
Blake Anderson
July 6, 2026
Russell Reconstitution: Micron and Amazon Swap
The semi-annual FTSE Russell reconstitution occurs today. This reconstitution welcomes new companies into well-known indices, such as SpaceX into the Russell 1000 index. It also reshuffles companies between value and growth indices, such as Micron and Amazon transitioning in opposite directions. Micron Leaves Value Micron’s business has undergone a fundamental boom, and price momentum has …
Blake Anderson
June 29, 2026
The S&P 500’s Latest Changes: AI In, Consumer Out
The S&P 500’s latest quarterly rebalance offers a fascinating snapshot of where investors believe the U.S. economy is headed. Effective June 22, 2026, the index will add Marvell Technology and Flex while removing Pool Corporation and Campbell’s Company. While index changes are often viewed as routine housekeeping, they frequently provide insight into broader market trends …
Blake Anderson
June 22, 2026
Sunny Days for Solar Stocks
Solar stocks are finally seeing brighter skies. After spending much of the past two years under a cloud of higher interest rates, policy uncertainty, and industry oversupply, the crisis in the Middle East has renewed the focus on energy independence and propelled these stocks to be some of the best performers in the market as …
Blake Anderson
June 15, 2026
Talking the SpaceX IPO (Continued)
I was honored to be a guest on Facts vs Feelings last week! Ryan, Sonu, and I tackled one of the hottest topics of 2026 – the SpaceX IPO. Below are some of the charts I referenced when talking about SpaceX (the company) and SPCX (the IPO)! I’ve added a couple of additional points we …
Blake Anderson
June 8, 2026