Core Insights - The Invesco NASDAQ Next Gen 100 ETF (QQQJ) is highlighted as a notable option for investors seeking exposure to promising tech stocks, despite the common focus on larger ETFs like QQQ and QQQM [1] - QQQJ, with a market capitalization of $883.64 million, primarily includes mid-cap and smaller large-cap stocks, featuring an average market cap of $23.88 billion across its 107 holdings [1] Group 1: ETF Overview - QQQJ has been operational for five years and serves as a proving ground for stocks aspiring to enter the Nasdaq-100 Index [1] - The ETF's holdings include companies that Morningstar identifies as top tech names, such as Fiserv and Akamai Technologies [1] Group 2: Notable Holdings - Fiserv (FISV), a key holding in QQQJ, is recognized for its core processing and complementary services for US banks, with shares considered 47% undervalued relative to a fair value estimate of $126 [1] - Akamai Technologies (AKAM) is another significant holding, noted for its investments in cloud computing and edge computing, with a strong network presence that positions it well against major competitors [1]

Industry Overview - Software stocks are experiencing strong demand driven by digital transformation and the rapid adoption of artificial intelligence (AI), including generative AI and Agentic AI moving into real business applications [1] - Key growth drivers include software-as-a-service models, cloud migration, hybrid work models, and increased usage of online payment platforms [1] Factors Favoring Software Stocks - The proliferation of AI-powered applications in various sectors such as voice recognition, telemedicine, and business management software is benefiting industry players [2] - The adoption of cloud-based services, IoT, AR/VR devices, and accelerated 5G deployment are enhancing software stock performance [3] - Rising cyberattacks are prompting enterprises to invest more in cloud-based security solutions, shifting preference towards software-defined models for agility [4] Customer-Centric Trends - A customer-centric approach allows users to perform actions with minimal provider intervention, while pay-as-you-go models enable scalability for different user needs [5] - Subscription-based business models ensure recurring revenues, with the affordability of SaaS models particularly benefiting small and medium-sized businesses [5] Company Highlights Snowflake - Expected to report fourth-quarter fiscal 2026 results on February 25, with a Zacks Rank 3 and an Earnings ESP of +8.08% [8] - Consensus estimate for revenues is $1.25 billion, reflecting a year-over-year increase of 26.9%, while earnings are expected to be 27 cents per share, down 10% from the previous year [9] - Strong customer growth driven by AI capabilities and partnerships with industry leaders like SAP and Google Cloud [10][11] Match Group - Scheduled to report fourth-quarter 2025 results on February 3, with a Zacks Rank 3 and an Earnings ESP of +3.38% [12] - Revenue consensus is $871.6 million, indicating a year-over-year increase of 1.3%, with earnings expected at $1.01 per share, up 23.2% [12] - Benefits from a first-mover advantage in online dating, with Tinder as a key growth driver supported by innovative features and international expansion [13] Synopsys - Set to report first-quarter fiscal 2026 results on February 25, with a Zacks Rank 3 and an Earnings ESP of +0.38% [14] - Revenue consensus is $2.39 billion, reflecting a year-over-year increase of 64.3%, with earnings expected at $3.57 per share, up 17.8% [14] - Growth driven by demand for advanced technology and design solutions, with strong traction for its Fusion Compiler product [15] Cloudflare - Expected to report fourth-quarter 2025 results on February 10, with an Earnings ESP of +0.20% and a Zacks Rank 3 [16] - Revenue consensus is $590.17 million, indicating a year-over-year growth of 28.3%, with earnings per share expected at 27 cents, suggesting a 42.1% increase [16] - Benefits from a growing customer base and robust security solutions, with a dollar-based net retention rate of 119% in Q3 2025 [17]

Quick Read Oracle (ORCL) plans to raise $40B to $50B to expand cloud infrastructure for major AI customers including Meta, Nvidia and OpenAI. Oracle’s remaining performance obligations surged to $523B. This represents roughly 8.5 times annual revenue. Oracle’s trailing free cash flow turned negative at $13B as capital expenditures soared past operating cash flow. Investors rethink 'hands off' investing and decide to start making real money Oracle (NYSE:ORCL) announced on Friday that it expects to r ...

Core Insights - Giverny Capital Asset Management's portfolio returned 0.01% in Q4 2025, underperforming the S&P 500's 2.66% return, and YTD returns were 12.58% compared to the Index's 17.88% [1] - The firm faced challenges due to underweighting in large technology companies and overweighting in smaller niche leaders, despite strong earnings growth and capital returns from portfolio companies [1] - The market's focus on AI investments has overshadowed the actual benefits of portfolio companies, impacting overall performance [1] Company Performance - Arista Networks, Inc. (NYSE:ANET) was highlighted as a leading contributor to Giverny Capital's performance, with a one-month return of 3.32% and a 52-week gain of 27.12% [2] - As of January 30, 2026, Arista Networks' stock closed at $141.74, with a market capitalization of $178.491 billion [2] - Arista Networks has been the best-performing stock for Giverny Capital since inception, providing high-quality routers and switches for major clients like Meta Platforms and Microsoft [3] Market Sentiment - Despite strong revenue growth of 27.5% year-over-year to $2.3 billion in Q3 2025, Arista Networks is not among the top 30 most popular stocks among hedge funds, with 92 hedge fund portfolios holding the stock at the end of Q3 [4] - There is a belief that certain AI stocks may offer greater upside potential and less downside risk compared to Arista Networks, despite its strong fundamentals [4]

Alphabet Inc. (GOOG) is a technology conglomerate and the parent of Google, headquartered in Mountain View, California. Alphabet operates across diverse segments, including Google Services (search, advertising, Chrome, YouTube, and more), Google Cloud (cloud infrastructure and AI), and Other Bets (emerging technologies and ventures). The company has grown into one of the world’s most valuable firms, with a market cap of around $4.1 trillion, reflecting its dominant position in digital advertising, cloud co ...

智通财经APP获悉，东吴证券发布研报称，Counterpoint Research预计，2026年Q1存储价格还将上涨 40%至50%，Q2继续上涨约20%。供需端视角上，供给侧硬件成本提升，需求侧AI Agent爆款不断推陈 出新，全球大厂纷纷下场，云作为AI的基础设施，海外大厂谷歌(GOOGL.US)和亚马逊(AMZN.US)已经 开始涨价，为多年来首次。随着春节临近，国内AI应用需求逐步提升，国内云厂也会提价，AI云产业 链有望引来投资机会。 东吴证券主要观点如下： 海外大厂云已经开始涨价 光纤涨价不断。在中国市场，G.652.D光纤价格相较于2025年11月大幅上涨约80%。2026年1月，该类型 单模光纤价格更是创下近七年新高，平均价格突破40元/芯公里，部分厂商报价甚至高达50元/芯公里， 仅一个月内涨幅就超过75%。 相关标的 算力租赁厂商：宏景科技(301396.SZ)、协创数据(300857.SZ)等。云厂商：网宿科技(300017.SZ)、优刻 得-W(688158.SH)、青云科技(688316.SH)、阿里巴巴-W(09988)等。CPU：澜起科技(688008.SH)、海光 信息(6 ...

Company Overview - Khaveen Investments is a global investment advisory firm serving high-net-worth individuals, corporations, associations, and institutions [1] - The firm is a registered investment adviser with the Securities Exchange Commission (SEC) [1] - It offers comprehensive services including market and security research, business valuation, and wealth management [1] Investment Strategy - The flagship Macroquantamental Hedge Fund maintains a diversified portfolio with exposure to hundreds of investments across various asset classes, geographies, sectors, and industries [1] - The investment approach integrates top-down and bottom-up analysis, blending three core strategies: global macro, fundamental, and quantitative [1] Core Expertise - The firm's core expertise lies in disruptive technologies that are reshaping modern industries [1] - Key focus areas include Artificial Intelligence, Cloud Computing, 5G, Autonomous and Electric Vehicles, FinTech, Augmented and Virtual Reality, and the Internet of Things (IoT) [1]

Core Viewpoint - Microsoft experienced its largest single-day dollar loss in history, with a decline of $357 billion in market value despite reporting strong earnings for Q2 of fiscal 2026, raising questions about investor confidence and future growth prospects [1]. Financial Performance - Revenue for the quarter increased by 17% to $81.3 billion, with adjusted earnings reaching $4.14 per share, surpassing the consensus estimate of $3.91 [1]. - Operating margin stood at 47.1%, and Microsoft Cloud revenue exceeded $50 billion for the first time [1]. Market Reaction - Microsoft shares fell by as much as 12% during intraday trading, closing down 10% at $433.50, marking the seventh-largest percentage decline since the company went public in 1986 [1]. - The stock's performance post-earnings report was notably stagnant, indicating persistent investor concerns [1]. Growth Concerns - Azure cloud platform growth was reported at 38% in constant currency, but fell short of Wall Street's whisper number of 39.4%, contributing to market unease [1]. - Capital expenditures surged to $37.5 billion, a 66% increase year-over-year, highlighting the competitive pressures in the AI and cloud sectors [1]. AI Business Insights - Microsoft 365 Copilot, the AI assistant integrated into Office apps, has 15 million paid users, which is only about 3% of the 450 million paid seats in Microsoft 365 [1]. - Concerns were raised regarding 45% of Microsoft's $625 billion in remaining performance obligations being tied to OpenAI, with $281 billion of that backlog committed to a single customer [1]. Analyst Perspectives - Analysts expressed skepticism about Microsoft's ability to prove the value of its investments in AI, despite a 16% increase in Microsoft 365 commercial revenue [1]. - Some analysts maintained a positive outlook, with Morningstar keeping a $600 fair value estimate and noting that demand for AI and cloud services continues to outpace supply [1]. - Other analysts, like Wedbush, acknowledged the friction between long-term investments and short-term investor expectations, suggesting that 2026 could be a pivotal year for Microsoft [1].

Core Insights - Alphabet Inc. (NASDAQ: GOOGL) is identified as one of the 12 most profitable NASDAQ stocks to buy, with a strong buy rating from 30 analysts and a one-year average share price target of $351.37, indicating a 4% upside potential as of January 30 [1] Analyst Ratings and Price Targets - Roth Capital reiterated a buy rating for Alphabet Inc. on January 27, raising its price target to $365 from $310 ahead of the Q4 FY25 earnings call scheduled for February 4, with expectations that the company will exceed consensus estimates [2] - KeyBanc also increased its price target for Alphabet Inc. to $360 from $330 while maintaining an overweight rating, citing potential gains from the AI product cycle in 2026 [4] Upcoming Opportunities - Roth Capital highlighted several upcoming opportunities for Alphabet Inc. in the first half of 2026, including TPU partnerships, Waymo launches, user growth for the Gemini App, and potential news related to Gemini 4.0 [3] Legal Settlement - Alphabet Inc. agreed to a $68 million settlement regarding a lawsuit that accused it of recording private conversations through Google Assistant, with the settlement filed in a federal court in California on January 23 [5] Company Overview - Alphabet Inc. owns several major platforms, including Google Search, Google Maps, Gmail, and YouTube, and is recognized for its pioneering work in cloud computing, quantum computing, and artificial intelligence [6]

Investment in AI Data Centers - Digital Connexion plans to invest $11 billion by 2030 to develop a 1-gigawatt AI-focused data center campus in Andhra Pradesh, highlighting significant interest from both domestic and global investors in AI infrastructure [1] - Google announced a $15 billion investment to build an AI hub and expand data-center infrastructure in India, following a previous $10 billion commitment in 2020 [2] - Microsoft plans to invest $17.5 billion by 2029 to expand its AI and cloud footprint in India [2] - Amazon will invest an additional $35 billion in India by 2030, raising its total planned commitment to approximately $75 billion [2] Strategic Importance of Data Centers - The U.S. cloud giants are racing to add data-center capacity globally, with India emerging as an attractive location due to its engineering talent and demand for cloud services [3] - India's finance minister proposed a tax holiday on revenues from cloud services sold outside India if run from local data centers, aiming to attract foreign investment [4][5] - The budget also includes a 15% cost-plus safe harbor for Indian data-center operators providing services to foreign entities [4] Challenges and Projections - Scaling up data center capacity in India faces challenges such as power shortages, high electricity costs, and water scarcity, which could impact construction and operating costs [6] - India's data-center power capacity is projected to exceed 2 gigawatts by 2026 and could expand to over 8 gigawatts by 2030, driven by capital investments exceeding $30 billion [8] Broader Economic Initiatives - The Indian government is increasing its focus on electronics and semiconductor manufacturing, launching a second phase of the India Semiconductor Mission to enhance domestic production capabilities [10] - The budget raised the outlay for the Electronics Components Manufacturing Scheme to ₹400 billion (around $4.36 billion) to attract global suppliers and reduce reliance on imports [11][12] - Measures to boost cross-border e-commerce include removing the ₹1 million (around $11,000) value cap per consignment on courier exports, benefiting small manufacturers and startups [15] Long-term Vision - The latest measures emphasize India's ambition to become a long-term hub for global technology infrastructure, focusing on cloud computing, electronics manufacturing, and critical minerals [16]