ASML Q1 2026: Surging EUV Demand Drives Guidance Hike Accelerated capacity expansion, surging Low-NA productivity, and the maturation of High-NA EUV

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As the industry struggles with supply limitations that are expected to persist well beyond 2026, ASML’s intend to double its EUV output underscores its vital role in the next decade of semiconductor evolution.

$ASML Earnings review is out 👇

But here is the real power of $GOOG: even if this triggers churn, there’s no true alternative. Canceled subs simply revert to the free tier, feeding right back into the YouTube ad machine.

$GOOG is said to raise prices for YouTube Premium in US (hiking US individual monthly plans by 14% to $15.99). 

With 125M+ subs and a $20B+ estimated run-rate, this new revenue flows almost entirely to the bottom line.

Keep an eye on pool chemicals. We're starting to see prices climb again on the back of rising oil. This is a notable shift for $POOL, signaling that the deflationary headwinds they've been battling might finally be coming to an end.

That’s a fair argument. Still it won’t give that divergence

Earnings growth supports stock price growth in the AI era.

But do factors like extending the useful lives of tangible assets, aggressively capitalising costs rather than expensing them, and share buybacks also play a role?

AMZN “I've been thinking for the last number ‌of years that AWS, call it 10 years from now, could be about a $300 billion annual revenue, run rate business,” Jassy said, according to a review of his comments by Reuters.“I think what's happening in AI that AWS has a chance to be at least double that.”

Not what $LULU used to be.

I would never imagined seeing $ADBE trade at a near 10% FCF yield while growing 10% YoY.

The effect of disruption risk has been absolutely brutal on Adobe's valuation multiple.

Thesis still intact. Long $GRG.L

Additionally, nuclear removes the intermittency problem that renewables can’t solve for AI workloads.

This is what the AI power race looks like: long-dated nuclear contracts, license extensions, and hyperscalers locking in supply decades ahead.

Vistra $VST just signed 20-year PPAs to supply ~2.6 GW of nuclear power to $META.

• 2.6 GW can support roughly 15–25 large AI-scale data centers
• Or ~1.5–2 million high-end GPUs running continuously
• Enough baseload power for multiple hyperscale campuses across Ohio & Pennsylvania

Uber tried to copy-paste their US model. Grab built for the reality of the region.

In 2018, Uber surrendered, selling their SEA operations for a 27.5% stake. It’s a masterclass in why "local context" beats "global scale."

- Uber stuck to cars. Grab realized that in cities likeJakarta and Ho Chi Minh, cars don't move. So they launched GrabBike (motorcycle taxis) to weave through traffic.

- Grab’s founders went to gas stations and coffee shops at 4 AM to recruit taxi drivers, even buying smartphones in bulk for them.

But Grab beat them by ignoring the Silicon Valley playbook and getting their boots on the ground:

- Uber launched requiring credit cards in a region where few people had them. Grab accepted cash from Day 1.

After diving deep into $GRAB , the most fascinating takeaway wasn't their tech but their hyper-localisation strategy.

For 5 years, they fought a brutal war with Uber in Southeast Asia. On paper, Uber should have won (more cash, better app).

The great philosopher Blaise Pascal once said, "All of humanity's problems stem from man's inability to sit quietly in a room alone."

The same applies to your portfolio. Sometimes the best "alpha" comes from sitting on your hands when everyone else is hitting the sell button.

Did you buy it for what it would do next Tuesday, or what it would do over the next five years?

If the fundamental business thesis hasn't broken, reacting to price action is just lighting money on fire via taxes, spreads, and emotional errors.

We live in an era of zero-commission trading and 24/7 financial noise. Every red notification on your phone screams at you to "DO SOMETHING!" The urge to trim, add, and react to daily volatility is immense

But hyper-activity is often the enemy of compounding

Think of your highest-conviction stock.

Definitely risky for $ASML

“Completed in early 2025 and now undergoing testing, the prototype fills nearly an entire factory floor. It was built by a team of former engineers from Dutch semiconductor giant ASML who reverse-engineered the company's extreme ultraviolet lithography machines or EUVs”

The Shift: PayPal to Become a Bank & Amazon Backs OpenAI Portfolio News #19

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Time is your greatest asset!!

Added to $GRG.L at the end of Sept. and yesterday's move adds some fuel to the idea that the market was underpricing its growth.

Davy just launched coverage: outperform & a £17.30 target.

Our thesis is intact: steady store expansion, value proposition, and a model that keeps pulling customers back

The data center GPU and CPU market is now worth ~$200B.

The dominace is staggering:
$NVDA: ~85% share
$AMD: 7.5% share
$INTC: 7.5% share

$AMD overtook $INTC and targets a double-digit share next. Can they pull it off against $NVDA ?

Thank you Linda 🙏

Grateful for the kind words and excited to be presenting at the upcoming FatAlpha Online Conference.

Thank you to Sophocles for the invitation and for continuously creating a space where thoughtful investment ideas are shared and challenged.

Looking forward to contributing my stock pitch.

$AMD Server CPU Market Share over time

Fortinet Q3'25: Record Profits & AI Wins, But Outlook Fears Spook the Market A beat-and-raise quarter gets punished as investors fixate on SASE ARR

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