For me, $Oracle(ORCL.US) is a great example of macro versus fundamentals. ORCL dropped over 5% on hot PPI and rising yields, but then jumped after earnings showed 121% cloud infrastructure growth and RPO of $664B. AI demand clearly remains strong.
I am still watching the 10-year yield closely as it approaches 5%. I remain constructive on AI, but I prefer accumulating quality names on pullbacks rather than chasing strength.
$Taiwan Semiconductor(TSM.US)’s 53.3% revenue growth also reinforces my view that AI demand remains strong. Now I am watching CPI and the Fed closely, while keeping some cash ready for opportunities.
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