📈 Market Trends & Valuations

  • $FUBO just got body slammed to $1.49, leaving retail 套牢 after heavy buying. 1
  • Big Tech CapEx is on a tear: combined spending by Amazon, Alphabet, Meta, and Microsoft is forecast to surge +70% YoY to a record $610 billion in 2026. That’s nearly 3x 2024’s $217 billion and over 4x 2023 levels. 2
  • Google’s 100-year bond issuance begs analysis. At high 5% rates, its risk profile (durations 17/16/15) is largely congruent with 30- or 50-year bonds, hinting at underlying strategic plays. 3
  • Alphabet’s century-bond sale, a rarity since Motorola in 1997, could be a market top signal. 4
  • Baidu played backbone for Hang Seng Tech over the past six months, a complete surprise. 5
  • Value creation has undergone a seismic shift: Nvidia is 20x more valuable and 5x more profitable than IBM in 1985, yet fields only a tenth of IBM’s workforce. 6

💡 Tech & Industry Insights

  • Space Tech, specifically $RKLB, $PL, and $LUNR, are pivoting from speculative Moon/Mars plays to emerging defense primes. 7
  • SpaceX is blueprinting a lunar travel system for all, a potential 重磅 tourism project. Cost reduction is the next hurdle. 8
  • TMDX is leveraging current earnings to forge a decade-long monopoly. The “Enhance Trial” is their strategic keystone. 9
  • Amazon’s Q4 FY2025 $200 billion spend is an “outrageous bet,” signaling an aggressive strategic move. 10
  • Word on the street: NVIDIA may have pared back HBM4 speed specs because Samsung alone can’t hit volume targets. This could create an opening for Micron in the HBM4 supply chain. 11