[Applause] supply constraint. Those are the two most important words I've heard so far in this earning season, other than of course quantum, of course. For example, last night David Zinser, he's the excellent CFO of Intel, stressed several times that his company's supply constraint for a host of products and quote, "Industry supply has tightened materially." Oh boy, did that work.These shortages are why Intel was able to report sharply better than expected earnings. When you're supply constrained, you have ...

Group 1 - The core message of the earnings season is the concept of being "supply constrained," which has significant implications for pricing power in the industry [1] - Intel reported earnings that exceeded expectations, largely due to supply constraints allowing for price increases, which is considered a key advantage in any industry [2]

Core Viewpoint - The phrase "supply constrained" is crucial during earnings season, indicating that companies can raise prices due to limited supply, which is beneficial for their performance [1] Group 1: Technology Sector - Intel's strong earnings are attributed to being supply constrained, with the CFO noting that "industry supply has tightened materially" [2] - Other tech companies like Micron, AMD, and Nvidia are also experiencing supply constraints and performing well in the market [2] - The high storage needs of artificial intelligence are contributing to the supply constraints, as semiconductor capital equipment manufacturers did not anticipate the volume of orders [3] Group 2: Other Industries - Boeing and GE Vernova are identified as supply constrained, with Boeing expected to report shortages in its aircraft when it announces earnings [4] - GE Vernova faces supply constraints in its power equipment, particularly natural gas turbines, which are essential for data centers [4] - Both GE Vernova and Boeing are positioned to benefit from increased demand for big-ticket items that can help reduce the U.S. trade deficit [5] - Overall, there is a prevailing trend of higher demand than supply across various industries, which is expected to support strong stock performance [5]