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Iran announced that they are not "at a full scale war with US". Markets recovered slightly following the news as oil tumbles back between $90 and $100. I wouldn't take anything for granted, especially when we are in the midst of earnings season, where volatility is completely expected and normal. With more big cap companies reporting this week and the past trend of Capex dragging down share prices, I won't be surprised to see more dips coming.

$Salesforce(CRM.US) Salesforce is exposed to the AI industry because some of its products and services can be automated. To address these concerns, the company has continued to launch its own AI tools, with its Agentforce crossing the $1 billion mark in the last quarter. Analysts expect that Salesforce’s business will continue slowing in the coming years. Data shows that the company’s annual revenue will grow by 11% this year to $46 billion. It is also expected to slow to 9% to $50.5 billion next year. Crucially, this revenue growth includes its recent acquisitions. It acquired Informatica in a $8 billion deal last year. while spending $3.6 billion to buy Fin, a company offering an autonomous customer service agent platform this year. In its recent earnings, Salesforce said that its revenue jumped by 13% YoY to $11.1 billion, with Informatica contributing $444 million. As such, excluding Informatica, its annual growth was just 8.5%. This has led to Saleforce being one of the worst performing stocks to date. @Captain's Treasure

Oil went above $100 as Iran rejected ceasefire and Trump threatens to go "all out" once more. Tech stocks sold off hard following Tesla's moderate earnings and Alphabet's raise in Capex, leading the drawdown of S&P by 1.3%. Going into the weekend, I expect the bearish sentiment to remain while all eyes turn to the next wave of earnings next week. The pullback may be a good time for a little investment but do trade cautiously.

$Amazon(AMZN.US) Big tech companies, particularly Amazon and Alphabet, are significantly increasing capital expenditures, with plans totaling $700 billion this year. Alphabet announced a rise in capex to between $195 billion and $205 billion, driven by strong demand exceeding current computing capacity, despite a 8% stock decline following the announcement. I believe it’s very likely to affect other Mag 7 companies that are spending huge as well. Firstly, Amazon is a much larger cloud provider than Alphabet. Amazon Web Services has the greatest global share of the cloud computing market at 28%, followed by Microsoft at 21% and Google Cloud at 14%. Secondly, Amazon has been very public and bullish about its capex. In a letter to shareholders in April, CEO Andy Jassy posted a lengthy statement on Amazon’s website justifying the company’s planned spending and saying it would be a “meaningful leader” in AI. Heading into earnings for Amazon next week, I won't be surprised to see another bearish sentiment if Amazon raises Capex again despite beating expectations and increasing revenue and margins. @Captain's Treasure

Google's earnings were solid, take away the gain in SpaceX and Anthropic and is it still $2.85 vs $2.95 expected. Capex spending continues to grow, which is completely within expectations - the market just reacted for the sake of reacting. In my opinion, I'm more worried for next week's Meta & Msft earnings. Those 2 are the ones that have been struggling all year round.

$Alphabet(GOOGL.US) Alphabet's Capex surged to $44.9bn, doubling YoY. Management raised the full-year guidance from $18-19bn to $19.5-20.5bn, a net increase of $10bn. They also expect Capex to increase significantly in 2027. This aligns with buy-side expectations of a $5-10bn hike this year due to rising memory prices, with 2025 projections reaching $30-40bn. Google Cloud grew 82%, slightly beating buy-side estimates of 75-80%. Core Advertising slightly beat expectations. Search ads grew 17%, maintaining anticipated strength, while YouTube ads grew 12%, showing a slight QoQ recovery. However, due to massive investment expansion, FCF turned negative (-$5.8bn). EPS grew 294%, but this was primarily driven by valuation gains from investments in SpaceX and Anthropic, making it a distorted metric for Google’s core fundamentals. In my opinion, this was a solid quarter for Google. Bolstering its foundation while Search and YouTube ads continue to grow. Capex was always expected to rise, so no big surprises there. Overall share price is slightly down but not by a huge margin, I still think the potential to hit and maintain $400 by year end is possible. @Captain's Treasure

I'm looking forward to post market Alphabet earnings & most importantly their forward guidance as well. Alphabet has pulled back and consolidated around the 340-360 mark since their last earnings, with even Bershire purchasing at higher prices of 360+. I do think 400 could be a plausible target by year end especially with their more efficient than ever TPUs.

$Microsoft(MSFT.US) Microsoft has had trouble convincing investors that it has a winning artificial-intelligence strategy, but they might be looking at the company's big AI initiatives all wrong, according to a Morgan Stanley analyst Adam Wood. Azure and Copilot are keys to the stock. Azure and Copilot show that Microsoft's AI investments are translating into durable value creation. With Azure, Microsoft is showing its ability to monetize infrastructure demand, and Wood believes the market is incorrectly valuing the cloud unit as a "bare-metal" or "commodity" AI infrastructure provider, whereby customers buy compute and inference capacity but not much else. On the other hand, Copilot-driven average revenue per user is becoming a great revenue driven tool. Microsoft has the opportunity to grow its revenue stream through Copilot seat adoption, push user migration towards Microsoft's M365 E7 subscriptions, and leverage a new consumption-based monetization strategy. @Captain's Treasure

While everyone else was focused on South Korea crash & buying the dips on memory stocks, I am paying attention to our local market. With the reduced board lot size introduced in October, many are pushing bank stocks higher before taking profit later on. I'm not 100% sure that a healthy pullback is on the cards anytime soon, but I'm certainly not rushing in as well. I'm buying these bank stocks for my dividend portfolio, not trading, hence the patience and not trying to fomo in to lock in more profits.

$NU Holdings(NU.US) Nubank, a leading digital financial institution in Latin America, has agreed to acquire Banco Porto Real, enhancing its service offerings for over 115 million customers in Brazil. This acquisition, pending Central Bank approval, aligns with regulatory requirements and will integrate Banco Porto Real's banking license into Nubank's existing operations without adding capital or liquidity pressures. Nubank aims to expand its market share while maintaining its commitment to innovative, customer-centric financial services, having already significantly increased access to banking solutions for millions of Brazilians. Nu has recovered nicely since the last earnings, currently hovering around the $13 range. Let's see if the upcoming earnings can propel the stock higher. @Captain's Treasure

I would be lying if I say I'm not worried about Netflix's stock performance over the past year. However, EPS is still growing strongly. People like to conveniently say that growth is slowing because they included the breakup fee from the WBD deal, but if we exclude that one time payment, Netflix's growth is still intact, with room to grow for the advertisement portion as well.

$Meta Platforms(META.US) Anthropic is holding very preliminary discussions on leasing computing capacity from Meta. After The New York Times reported that the two sides are discussing a potential transaction valued at around USD10 billion, shares of the social media giant rebounded. The discussions come weeks after Anthropic announced a similar agreement with Elon Musk-owned SpaceX to use computing capacity at its Colossus 1 data center to enhance service capacity for paid subscribers. This highlights that Anthropic, as one of the major AI laboratories, continues to engage in large-scale collaborations with other AI labs to access AI chips produced by Nvidia. In my opinion, this could help spur the recovery of Meta stock, but the main focus comes next week earnings. @Captain's Treasure

$Grab(GRAB.US) Grab runs a super app across Southeast Asia that brings together ride-hailing, food and grocery delivery, digital payments, and financial services in one platform, connecting millions of consumers, drivers, and merchants in daily transactions. Its services range from GrabFood and GrabMart to GrabPay, GrabFin, and GrabInsure, making it a central digital utility across eight countries. Grab generates most of its revenue from Deliveries at US$1.9b and Mobility at US$1.3b, with smaller contributions from Financial Services at US$379m and Others at US$4m. Grab Holdings stands out because it combines a super app footprint across eight Southeast Asian markets with fundamentals that fit well with a screener focused on financial resilience. @Captain's Treasure

🥇 Spain

🥈 Argentina

🥉 England

Market sell-off is not the only thing continuing into the weekend; the US-Iran war is too. South Korea's margin plays backfire for their traders and some are even forced to liquidate their accounts to stop the losses. This effect spirals into the US market as well, causing many big names and high beta stocks to drop massively. Heading into earnings season, we have also seen barely hitting analysts' expectations is not enough - investors are pricing in not just the fundamentals but also the future forward guidance.

$Netflix(NFLX.US) Netflix's Q3 revenue forecast of $12.86 billion and diluted earnings of 82 cents fell short of analyst expectations, leading to a huge drop in share price. The company is shifting focus from viewing-hours reports to prioritizing revenue and operating profit, aiming for new growth avenues including advertising and video games. Competition is intensifying, but Netflix remains confident in its performance, highlighting healthy engagement and plans to leverage technology and live events to support its growth strategy. The problem wasn't the headline numbers, but rather the forward guidance. In this era of the market, when forecast disappoints, the price reprices immediately, even if the results were just fine. I'm definitely going to load the dip, but it's not going to be a pretty ride. @Captain's Treasure