Investing
-
‘Critical infrastructure for the AI era’: Cisco’s CEO on the earnings beat that sent shares to a record
Cisco shares jumped more than 13% Thursday. The rally followed an earnings report Wednesday that showed the networking giant’s multi-year pivot to AI infrastructure is finally paying off. For the third quarter ended April 25, Cisco reported record revenue of $15.8 billion, up 12% year over year, topping the high end of its guidance. The
-
Michael Burry, Paul Tudor Jones, and a Nobel-winner all see the same thing: A stock market reckoning
In a new substack post, Michael Burry, the hero ofThe Big Short book and movie, declared that the stock market has “jumped the shark,” and posited that “a complete reversal” in the soaring, tech-laden NASDAQ 100 is at hand. Burry noted the resemblance between today’s price action and the waning days of the dot.com craze—adding
-
Market guru Yardeni sees S&P 500 hitting 8,250 this year, highest among top Wall Street forecasters, as earnings bolster ‘Roaring 2020s’
Yardeni Research President Ed Yardeni, who has been beating the drum about another Roaring Twenties since the decade began, is even more optimistic on stocks this year as recent earnings are driving a meltup. On Sunday, the market veteran hiked his year-end forecast for the S&P 500 to 8,250 from 7,700—making him the most bullish
-
The federal government must issue more debt than it expected as cash flow weakens, and ‘the bond market is shouting’
The Treasury Department announced this week that it expects to borrow more than anticipated in the current quarter as incoming cash flow has been weaker than initially projected. The $189 billion now estimated for the April-June quarter is $79 billion more than what Treasury saw in February. And after adjusting for a larger-than-expected cash balance
-
Why GameStop’s bid for eBay echoes one of the worst business deals of all time
By the start of 2000, I was already a veteran writer for Fortune warning our readers that the dot.com craze had lifted Nasdaq valuations to unsustainable highs. All of the time-honored metrics pointed to the same outcome—crash ahead! Then, AOL and Time Warner, Fortune‘s parent as owner of magazine-maker Time Inc., issued a shocker for
-
Tapestry thinks it’s cracked the code of ‘expressive luxury’ for Gen Z: a ‘Goldilocks’ combo of aspirational and approachable
Tapestry has a theory about why Gen Z keeps buying Coach bags: The brand is just fancy enough to feel like an achievement, and just affordable enough to actually be one. “Our price and brand positioning of expressive luxury is truly the Goldilocks of brand positioning in our industry,” Todd Kahn, CEO and brand president
-
‘FOMO has proven a stronger incentive than poor stock performance’: Goldman Sachs just issued a brutal verdict on the AI boom
The numbers coming out of Wall Street’s most influential research shop tell a story that Silicon Valley would rather not hear. In two separate reports published last month, Goldman Sachs analysts examined the great AI infrastructure build-out from opposite ends of the telescope — one team studying how much the machine will cost to build,
-
Supermicro CEO insists ‘no one’ beyond indicted employees were involved in alleged $2.5 billion smuggling scheme
Super Micro Computer CEO Charles Liang spoke out during the company’s fiscal third quarter earnings call to deliver a message. “No one” at the company besides three indicted employees—including cofounder Yih-Shyan “Wally” Liaw—were involved in what prosecutors have called an elaborate scheme to smuggle servers to China in violation of U.S. export controls, said Liang.
-
Warren Buffett says markets are like a church with a casino attached, but ‘we’ve never had people in a more gambling mood than now’
Investing legend Warren Buffett bemoaned the gambling culture that has taken over financial markets while continuing to preach his brand of patience. In an interview with CNBC on Saturday as Berkshire Hathaway held its annual shareholders meeting, he noted that of the 60 years he’s been in business, only five of them were “really juicy”
-
Berkshire’s cash pile hits $397.4 billion as profit more than doubles, but annual meeting attendance falls sharply without Warren Buffett as CEO
The folksy wisdom and jokes that were a staple of the Berkshire Hathaway annual meeting for decades when Warren Buffett was leading the show will be missing Saturday, but shareholders still started lining up at midnight outside a Nebraska arena to listen to new CEO Greg Abel. Attendance is down significantly this year with the