Core Insights - The quantum computing revolution is expected to deliver transformative returns for companies involved in this technology [1] - Despite high growth potential, monetization opportunities in quantum computing are currently limited, making it prudent for investors to focus on companies already generating revenue and profits [3] Company Summaries Nvidia - Nvidia is a leader in accelerated computing and plays a critical role in building global AI infrastructure, generating significant cash flows to invest in quantum computing [4] - The company launched Nvidia DGX Quantum, the first GPU-accelerated quantum computing system, providing essential software and hardware infrastructure for quantum developers [5] - Nvidia has formed partnerships with several companies to enhance quantum hardware collaboration, and it generated $60.8 billion in free cash flow in fiscal 2025, with a revenue increase of 69% year over year to $44.1 billion [6][7] - Trading at nearly 36 times forward earnings, Nvidia's stock is positioned for growth as it provides essential tools for quantum companies [8] International Business Machines (IBM) - IBM has transformed from a legacy technology company to a major player in enterprise AI and has been investing in quantum computing since the 1980s, with tangible results emerging in recent years [9] - The launch of the 127-qubit Eagle processor and the Quantum System Two in Japan are significant milestones, with cumulative revenue of around $1 billion from quantum initiatives since 2017 [10] - IBM's core business is profitable, with a generative AI book of business worth $7.5 billion and free cash flow guidance of over $13.5 billion for 2025, providing financial flexibility for quantum investments [11] - Quantum technology represents a growing portion of IBM's business and could be a significant growth catalyst in the long run [12] Microsoft - Microsoft is a leader in quantum computing, with recent breakthroughs including the creation of advanced quantum bits and the unveiling of the Majorana 1 quantum processor [13] - The Azure Quantum service offers cloud-based quantum computing capabilities, allowing clients to access quantum hardware and software, with plans to ship commercial quantum computers in 2025 [14] - Microsoft integrates quantum computing with AI, launching the Quantum Ready program to prepare businesses for quantum transformation, and its Azure cloud business generated over $75 billion in revenue in fiscal 2025 [15][16]

Group 1: Market Overview - The S&P 500 is expected to have an above-average year in 2025 following a rapid recovery from a steep sell-off in April, with gains of over 20% in both 2023 and 2024 [1][2] Group 2: WM (Waste Management) - WM has outperformed the S&P 500 over the last five and ten years, despite the S&P's gains being driven by megacap tech stocks [4][6] - The company has a stable business model focused on waste management, which is essential as population and economic growth increase the demand for waste collection and processing [5][6] - WM reported a 29.9% total company margin under adjusted EBITDA, with a 7.1% growth in its legacy business and 19% overall revenue growth due to the acquisition of Stericycle [7][9] - The Stericycle acquisition, valued at $7.2 billion, enhances WM's position in the healthcare waste market, while a previous acquisition of Advanced Disposal for $4.6 billion expanded its geographic coverage [8][9] - WM has a premium valuation at 29.9 times forward earnings, supported by stable free cash flow used for dividends, stock repurchases, and reinvestment [9][10] - The company has raised its dividend for 22 consecutive years, with a recent 10% increase, resulting in a yield of 1.5% [10][11] Group 3: IBM (International Business Machines) - IBM, despite being over a century old, is characterized as a growth stock due to its strong exposure to AI, with a generative-AI book of business valued at $7.5 billion since 2023 [12][14] - The stock offers an attractive forward dividend yield of 2.6%, making it a solid option for passive income while benefiting from AI market growth [13][18] - IBM's five-year average payout ratio of 156% raises concerns, but its strong free cash flow covers the dividend, alleviating investor worries [16] Group 4: Delta Air Lines - Delta Air Lines offers a dividend with a current yield of 1.4% and is positioned as a growth stock, contrary to traditional views of airlines as cyclical businesses [19][20] - The company's focus on sustainable premium cabin revenue and loyalty programs reduces earnings cyclicality, contributing to long-term growth potential [20][21] - Delta is well-positioned to manage rising airport costs, as these costs represent a smaller portion of its business compared to low-cost carriers, and the airline industry is exhibiting more disciplined behavior [22]

Should @IBM rename itself to become AIBM?(.... better than some corporate re-names, eh?) ...

Core Viewpoint - IBM is undergoing a significant transformation under CEO Arvind Krishna, focusing on artificial intelligence, cloud computing, and quantum technology to regain its competitive edge and innovate in the tech industry [3][8][24]. Group 1: Company History and Transformation - IBM's revenue is currently about half of its peak in 2011, and it has faced challenges in the personal computer market, losing ground to competitors like Microsoft [3][9]. - The company has experienced a long and painful transformation over the past decade, reducing its workforce by approximately 100,000 employees since 2015 and divesting non-core business lines [9][10]. - Under Krishna's leadership, IBM's stock price has doubled, and the company has seen significant growth in its generative AI business, with bookings reaching $6 billion since June 2023 [10][21]. Group 2: Leadership and Culture - Arvind Krishna is the first CEO of IBM with an engineering background, bringing a more agile and flexible corporate culture to the company [2][8]. - Krishna emphasizes a shift from the traditional "IBM Way," which focuses on discipline and stability, to a more dynamic "Geek Way," promoting empowerment and rapid iteration [15][24]. - The leadership style under Krishna has fostered a more optimistic atmosphere among employees, with increased communication and engagement from the CEO [24]. Group 3: Strategic Focus Areas - IBM's strategic pivot is heavily invested in artificial intelligence, with a focus on developing foundational models and related infrastructure, rather than competing in the consumer AI space [9][10]. - The company is also committed to quantum computing, with plans to invest $150 billion over the next five years, including $30 billion specifically for quantum technology [18][19]. - IBM's flagship AI product, WatsonX, is tailored for specific business applications in finance, supply chain optimization, and IT operations, aiming to integrate AI into critical infrastructure for enterprise clients [9][10]. Group 4: Challenges and Market Position - Despite recent progress, IBM faces challenges in a competitive landscape dominated by larger tech companies, and it must navigate economic uncertainties and recent contract losses [23][24]. - The legacy of the Watson project, which failed to deliver on its initial promises in healthcare, still impacts IBM's reputation in the AI space, although it is recognized as a milestone in AI development [20][26]. - Analysts remain cautiously optimistic about IBM's cultural shift and strategic focus, believing that maintaining a customer-centric approach will be crucial for future success [24].

Core Viewpoint - IBM has experienced a downtrend, losing 12.5% over the past two weeks, but a hammer chart pattern suggests a potential trend reversal as buying interest emerges to counteract selling pressure [1][2]. Technical Analysis - The hammer chart pattern indicates a potential bottom in a downtrend, characterized by a small candle body and a long lower wick, suggesting that bears may be losing control [4][5]. - This pattern can occur across various timeframes and is utilized by both short-term and long-term investors [5]. Fundamental Analysis - Recent upward revisions in earnings estimates for IBM serve as a bullish indicator, correlating strongly with near-term stock price movements [7]. - Over the last 30 days, the consensus EPS estimate for the current year has increased by 1.3%, indicating analysts expect better earnings than previously predicted [8]. - IBM holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [9][10].

金十图示：2025年08月04日（周一）全球主要科技与互联网公司市值变化 | 台棋电 | 12199 | + -2.65% | 235.21 | | --- | --- | --- | --- | | 特斯拉 | 9761 | + -1.83% | 302.63 | | 甲骨文 | 6865 | + -3.68% | 244.42 | | 腾讯 | 6154 | + -3.17% | 67.85 | | 奈飞 | 4923 | + -0.07% | 1158.6 | | O Palantir | 3640 | + -2.58% | 154.27 | | ERASSING - E | 3313 | 1 1.16% | 50.35 | | SAP SAP | 3283 | + -1.29% | 283 | | 2 阿里巴巴 | 2840 | + -2.95% | 117.07 | | AMD | 2783 | + -2.64% | 171.65 | | ASML 阿斯麦 | 2712 | -0.7% | 689.82 | | cisco 思科 | 2657 | + -1.42% | 67.11 | | 赛富时 | ...

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Core Insights - IBM Consulting's strategy in China emphasizes proximity to clients, particularly in the Greater Bay Area, to enhance collaboration and efficiency [1][3] - The Greater Bay Area is viewed as a crucial hub for both Chinese companies expanding abroad and foreign companies entering China, supported by its unique geographical advantages and cultural ties with Southeast Asia [2][9] - IBM Consulting's performance in the Greater Bay Area has been strong, compensating for challenges faced in other regions, driven by the vibrancy of private enterprises and foreign company headquarters [5][17] Group 1: Strategic Focus - IBM Consulting prioritizes understanding client needs and fostering a sense of closeness, which is essential for delivering high-quality services [3][4] - The company is committed to establishing local teams in the Greater Bay Area to better serve both local and Hong Kong clients, recognizing the region's unique cultural characteristics [5][6] - The establishment of the AI Intelligence Center in Qianhai is part of IBM's broader strategy to invest in the Greater Bay Area, with a focus on AI as a key growth area [2][6] Group 2: Market Dynamics - The Greater Bay Area is becoming a pivotal point for Chinese enterprises looking to expand internationally and for foreign firms seeking to enter the Chinese market [2][10] - IBM Consulting has observed that many foreign companies remain committed to the Chinese market, adjusting their strategies to optimize operations rather than withdrawing [12][13] - The company aims to assist Chinese firms in their international expansion by addressing challenges related to management, establishing shared services centers, and ensuring cultural localization [8][11] Group 3: Performance and Future Outlook - IBM Consulting's performance in the Greater Bay Area has been notably strong, with expectations for continued growth and investment in the region [5][17] - The company plans to execute its strategies over the next year to year and a half, focusing on building trust and strong relationships with clients [6][18] - Despite global uncertainties, the Chinese market remains a significant focus for IBM Consulting, with plans to maintain a pragmatic and focused approach to business operations [18]

Core Insights - The meeting between Suzhou's municipal leaders and IBM's executives highlights the strong collaboration between the two parties, particularly in the field of artificial intelligence [1] - Suzhou is actively seizing opportunities in AI development, with over 2400 companies in the AI industry chain, indicating a robust growth trend [1] - IBM is committed to expanding its investment in Suzhou, focusing on areas such as "AI + Industry" and "AI + Healthcare" to foster innovation and enhance business models [1] Group 1 - Suzhou's government expresses gratitude for IBM's investment and emphasizes the city's commitment to building a high-level "AI +" city [1] - The city aims to create a market-oriented, law-based, and international business environment to support enterprises [1] - IBM acknowledges Suzhou's unique geographical advantages and vibrant economic activity, indicating a positive outlook for the AI industry [1] Group 2 - IBM plans to introduce more innovative resources and talents to deepen cooperation with Suzhou's industrial and innovation chains [1] - The collaboration aims to nurture innovative AI companies and accelerate the digital transformation of traditional enterprises [1] - Both parties are focused on achieving mutual benefits through enhanced cooperation in the AI sector [1]

All right, why don't we start with your word of the day. It's Smoresus board. What What are you seeing out there.Hey, listen. I could barely sleep last night. There's something for everyone this week.It's the biggest week of earnings and we've got everything across the board from an economic perspective. You've got growth data, you've got inflation data, you've got jobs reports, and by the way, Frank, we also have a Fed meeting today with a very exciting potentially uh postgame presser. So, big week board f ...