Offshore
Photo
App Economy Insights
$AVGO Broadcom's Semiconductor solutions segment is on a roll. https://t.co/pd7MCUcdxV
tweet
$AVGO Broadcom's Semiconductor solutions segment is on a roll. https://t.co/pd7MCUcdxV
tweet
The Few Bets That Matter
$LULU CEO stepping down might sound like good news but it also signals more instability.
Management has struggled for quarters to pin their market fit problems and still hasn't found it.
Leadership changes seemed necessary, left to see who takes the lead, and how long until they find a replacement.
tweet
$LULU CEO stepping down might sound like good news but it also signals more instability.
Management has struggled for quarters to pin their market fit problems and still hasn't found it.
Leadership changes seemed necessary, left to see who takes the lead, and how long until they find a replacement.
tweet
Offshore
Photo
App Economy Insights
$AVGO Broadcom Q4 FY25 (Oct. quarter).
• Revenue +28% Y/Y to $18.0B ($0.6B beat).
• Non-GAAP EPS $1.95 ($0.08 beat).
Q1 FY26 guidance:
• AI semi revenue to double Y/Y to $8.2B.
• Revenue ~$19.1B ($0.8B beat).
• Adjusted EBITDA margin ~67%. https://t.co/AtJqI3uWeM
tweet
$AVGO Broadcom Q4 FY25 (Oct. quarter).
• Revenue +28% Y/Y to $18.0B ($0.6B beat).
• Non-GAAP EPS $1.95 ($0.08 beat).
Q1 FY26 guidance:
• AI semi revenue to double Y/Y to $8.2B.
• Revenue ~$19.1B ($0.8B beat).
• Adjusted EBITDA margin ~67%. https://t.co/AtJqI3uWeM
tweet
Offshore
Photo
Fiscal.ai
RT @patientinvestt: Adobe is not dying! It has posted consistent 10% YoY revenue growth every single quarter since December 2022! Declining companies don’t do that!
$ADBE https://t.co/O5vuTTee4w
tweet
RT @patientinvestt: Adobe is not dying! It has posted consistent 10% YoY revenue growth every single quarter since December 2022! Declining companies don’t do that!
$ADBE https://t.co/O5vuTTee4w
tweet
Offshore
Photo
Fiscal.ai
"Revenue of $18 billion grew 28% Y/Y, driven primarily by AI semiconductor revenue increasing 74% year-over-year."
$AVGO: +3.2% after hours https://t.co/ZPR0N2rTDb
tweet
"Revenue of $18 billion grew 28% Y/Y, driven primarily by AI semiconductor revenue increasing 74% year-over-year."
$AVGO: +3.2% after hours https://t.co/ZPR0N2rTDb
tweet
Offshore
Photo
App Economy Insights
$COST Costco Q1 FY26 (Nov. quarter).
• Revenue +8% Y/Y to $67.3B ($0.2B beat).
• EPS $4.50 ($0.22 beat).
• 923 warehouses (+26 Y/Y, +9 Q/Q).
Comparable sales Y/Y (adjusted):
• US +5.9%.
• Company +6.4%.
• Digitally-enabled +20.5%. https://t.co/D1K23HJK3c
tweet
$COST Costco Q1 FY26 (Nov. quarter).
• Revenue +8% Y/Y to $67.3B ($0.2B beat).
• EPS $4.50 ($0.22 beat).
• 923 warehouses (+26 Y/Y, +9 Q/Q).
Comparable sales Y/Y (adjusted):
• US +5.9%.
• Company +6.4%.
• Digitally-enabled +20.5%. https://t.co/D1K23HJK3c
tweet
The Few Bets That Matter
What if $ORCL RPOs actually came through?
What if OpenAI really could pay for its commitments?
The consensus right now is that OpenAI can’t generate enough demand to support its scale. Many assume failure by default.
But that view is built entirely on speculation. No data.
Meanwhile, RPOs ramp across every compute provider, pointing to real & broad-based demand, not just from OpenAI, but from enterprises everywhere.
$PLTR is a perfect example: AI services across every sector… and all of it requires compute.
For weeks the bear case has been treated as the default narrative. It doesn't mean we should buy everything, some names are stretched, but the market has already corrected a lot. And the negative data people keep expecting still isn’t showing up.
The whole trade looks very different if the bull case is even partially true.
tweet
What if $ORCL RPOs actually came through?
What if OpenAI really could pay for its commitments?
The consensus right now is that OpenAI can’t generate enough demand to support its scale. Many assume failure by default.
But that view is built entirely on speculation. No data.
Meanwhile, RPOs ramp across every compute provider, pointing to real & broad-based demand, not just from OpenAI, but from enterprises everywhere.
$PLTR is a perfect example: AI services across every sector… and all of it requires compute.
For weeks the bear case has been treated as the default narrative. It doesn't mean we should buy everything, some names are stretched, but the market has already corrected a lot. And the negative data people keep expecting still isn’t showing up.
The whole trade looks very different if the bull case is even partially true.
tweet
Offshore
Photo
Dimitry Nakhla | Babylon Capital®
If “I had a dream” was ever a thesis 😅😂
Pretty incredible how the subconscious pulls ideas together. Not a decision making tool, but every now & then, intuition can surface in unexpected ways +
$V $MA https://t.co/ckWy1lNFp6
tweet
If “I had a dream” was ever a thesis 😅😂
Pretty incredible how the subconscious pulls ideas together. Not a decision making tool, but every now & then, intuition can surface in unexpected ways +
$V $MA https://t.co/ckWy1lNFp6
tweet
Offshore
Photo
EndGame Macro
Lululemon’s Bounce Looks Real But The Internals Are More Complicated
On the surface, this was a solid quarter. Revenue was up 7% to $2.6B and EPS came in at $2.59, which was enough to clear the bar the market had set. That’s why the stock gapped. Expectations were low, and LULU delivered something that looked reassuring.
But once you slow down and look under the hood, the health of the business is more uneven than the price action suggests.
Growth is leaning hard on one engine
The biggest contradiction is where the growth is actually coming from. The Americas were down…revenue fell 2% and comparable sales dropped 5%. Meanwhile, international revenue jumped 33%, with China up 46% year over year.
So total comps were technically positive at +1%, but that’s really international strength offsetting a soft U.S. consumer. That’s not a problem yet but it’s a very different story than broad based demand.
Management even admits this implicitly, talking about an ongoing action plan for the U.S. that won’t really show results until 2026. That’s corporate speak for this part of the business still isn’t fixed.
Margins and inventory are quietly flashing yellow
If demand were truly strong across the board, margins usually don’t move the way they did here. Gross margin fell 290 basis points to 55.6%, and operating margin dropped 350 bps to 17%. Operating income was down 11%, and net income fell year over year as well.
At the same time, inventory rose 11% to $2.0B (units up 4%). That’s not alarming on its own, but in retail it often shows up right before heavier promotions or margin pressure. Add in management’s guidance that tariffs could hit operating income by $210M, and the margin story gets harder, not easier.
Why the buyback really matters
The $1B increase in buyback authorization is the part everyone cheered and it does signal confidence. But it also serves a very practical purpose. Buybacks help stabilize EPS when margins are compressing and growth is uneven. They shrink the share count, smooth the optics, and give the stock support during a messy transition.
And this is a transition because the CEO is stepping down, interim leadership is in place, and the company is trying to rebalance a slowing U.S. business while riding international momentum.
The honest takeaway
This wasn’t a new bull case quarter. It was a better than feared quarter. The brand is still strong, international demand is doing real work, and the balance sheet gives them flexibility. But the internals say management is in manage through mode, not growth at all costs mode.
The stock moved because the market had gotten too pessimistic. The buyback is there to buy time and to fix the U.S., absorb cost pressures, and navigate leadership change.
tweet
Lululemon’s Bounce Looks Real But The Internals Are More Complicated
On the surface, this was a solid quarter. Revenue was up 7% to $2.6B and EPS came in at $2.59, which was enough to clear the bar the market had set. That’s why the stock gapped. Expectations were low, and LULU delivered something that looked reassuring.
But once you slow down and look under the hood, the health of the business is more uneven than the price action suggests.
Growth is leaning hard on one engine
The biggest contradiction is where the growth is actually coming from. The Americas were down…revenue fell 2% and comparable sales dropped 5%. Meanwhile, international revenue jumped 33%, with China up 46% year over year.
So total comps were technically positive at +1%, but that’s really international strength offsetting a soft U.S. consumer. That’s not a problem yet but it’s a very different story than broad based demand.
Management even admits this implicitly, talking about an ongoing action plan for the U.S. that won’t really show results until 2026. That’s corporate speak for this part of the business still isn’t fixed.
Margins and inventory are quietly flashing yellow
If demand were truly strong across the board, margins usually don’t move the way they did here. Gross margin fell 290 basis points to 55.6%, and operating margin dropped 350 bps to 17%. Operating income was down 11%, and net income fell year over year as well.
At the same time, inventory rose 11% to $2.0B (units up 4%). That’s not alarming on its own, but in retail it often shows up right before heavier promotions or margin pressure. Add in management’s guidance that tariffs could hit operating income by $210M, and the margin story gets harder, not easier.
Why the buyback really matters
The $1B increase in buyback authorization is the part everyone cheered and it does signal confidence. But it also serves a very practical purpose. Buybacks help stabilize EPS when margins are compressing and growth is uneven. They shrink the share count, smooth the optics, and give the stock support during a messy transition.
And this is a transition because the CEO is stepping down, interim leadership is in place, and the company is trying to rebalance a slowing U.S. business while riding international momentum.
The honest takeaway
This wasn’t a new bull case quarter. It was a better than feared quarter. The brand is still strong, international demand is doing real work, and the balance sheet gives them flexibility. But the internals say management is in manage through mode, not growth at all costs mode.
The stock moved because the market had gotten too pessimistic. The buyback is there to buy time and to fix the U.S., absorb cost pressures, and navigate leadership change.
Holy Lululemon $LULU 🚨 Back from the dead 📈🚀 https://t.co/ojB9Wi5aC2 tweet
Offshore
Photo
Fiscal.ai
Lululemon Q3 Revenue Growth by Region:
United States: -3%
China: +42%
Canada: -1%
Mexico: +95%
Other: +20%
$LULU https://t.co/UKAmHMVRd3
tweet
Lululemon Q3 Revenue Growth by Region:
United States: -3%
China: +42%
Canada: -1%
Mexico: +95%
Other: +20%
$LULU https://t.co/UKAmHMVRd3
tweet
Offshore
Photo
Fiscal.ai
"China Mainland revenue increased 46%, or 47% in constant currency, with comparable sales increasing 25%."
Lululemon is seeing major adoption in China.
The region now accounts for 20% of overall sales.
$LULU https://t.co/0KfW68eR0F
tweet
"China Mainland revenue increased 46%, or 47% in constant currency, with comparable sales increasing 25%."
Lululemon is seeing major adoption in China.
The region now accounts for 20% of overall sales.
$LULU https://t.co/0KfW68eR0F
tweet