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👉 Week in Review — Too Long; Didn’t Read:
Key Earnings Announcements:
Advanced Micro Devices believes the CPU market is going to grow twice as fast as previously forecasted.
Arm Holdings is doubling down on their $15B 2031 revenue target.
Uber is facilitating 10X more autonomous rides per quarter than last year.
Investor Events / Global Affairs:
Anthropic partnered with SpaceX.
Coinbase made major layoffs.
Economic Updates:
The labor market is holding up (with some concerns).
Consumer sentiment hit another record low.
Let’s dive right in!
👉 Portfolio Updates
Haven’t shared a portfolio update in a few weeks, so here’s the latest:
The Dividend Growth Portfolio continues to trend up to the right, up +10.2% YTD driven mainly by my Big Tech positions. I subbed out my Berkshire Hathaway position for Invesco’s S&P 500 Momentum ETF, SPMO. This has turned out to be a wonderful decision with the ETF now up nearly +12% in a matter of weeks.
My Long Risky subsection is lagging YTD as names like SoFi, Robinhood, Shopify, and Celsius weigh on the group — despite names like Bloom Energy, Arm Holdings, and Nebius all up +100% or more YTD.
The Monthly Income subsection continues to do what it does best — deliver tax-efficient monthly income to my portfolio thanks to NEOS Funds (SPYI, QQQI, and BTCI).
My Index Funds + ETFs subsection is up +9.2% YTD — driven mainly by the Nasdaq-100 and the iShares Emerging Markets ETF (IEMG).
Remain excited about energy, emerging markets / international, the Russell 2000, Amazon, and a handful of names associated with the rise of peptides. The markets seem incredibly resilient right now, fueled by a stellar earnings season. We’ve seen just about every name pull itself out of the March 30 lows in a heroic fashion — which is why it’s very important to remain invested and dollar cost average no matter the circumstance.
👉 Best and Worst ETF Performers of the Week
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👉 Key Earnings Announcements:
Advanced Micro Devices believes the CPU market is going to grow twice as fast as previously forecasted, Arm Holdings is doubling down on their $15B 2031 revenue target, and Uber is facilitating 10X more autonomous rides per quarter than last year.
Advanced Micro Devices (AMD)
Key Metrics
Revenue: $10.2 billion, an increase of +38% YoY
Operating Income: $1.5 billion, an increase of +83% YoY
Profits: $1.4 billion, an increase of +95% YoY
Earnings Release Callout
"We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with Data Center now the primary driver of our revenue and earnings growth."
My Takeaway
The company demonstrated that it is successfully capturing a significant share of the global artificial intelligence infrastructure buildout. The Data Center segment was the undisputed engine of growth. Segment revenue climbed 57% to $5.8 billion, fueled by robust enterprise adoption of 5th generation EPYC CPUs and the Instinct MI350 GPU series.
The Client and Gaming segments also provided strong support, growing a combined 23% to $3.6 billion as Ryzen processors continue to win market share in the personal computing space. A key strategic milestone was the expanded partnership with Meta, which committed to deploying up to 6 gigawatts of AMD Instinct GPUs and signed on as a lead customer for the upcoming 6th-generation EPYC processors.
AMD's cash generation capabilities reached new heights. Operating cash flow hit $3.0 billion, allowing free cash flow to more than triple year-over-year to a record $2.6 billion. This immense liquidity strengthened the company's balance sheet, pushing its cash and short-term investments pile to $12.35 billion. Management utilized a fraction of this cash to execute $221 million in share repurchases, while GAAP gross margins expanded by 300 basis points to 53%.
CEO Lisa Su emphasized that inferencing and agentic AI workloads require massive amounts of CPU processing for data orchestration, making AMD's dual strength in both CPUs and GPUs a unique competitive advantage. Most notably, management significantly raised its long-term industry outlook, projecting the server CPU market to grow at a 35% annual clip through 2030, a stark upward revision from their previous 18% estimate.
Long AMD.
Arm Holdings (ARM)
Key Metrics
Revenue: $1.5 billion, an increase of +20% YoY
Profits: $313.0 million, an increase of +49% YoY
Earnings Release Callout
"Data center royalty revenue continues to more than double year-on-year... Demand for our Arm AGI CPU has accelerated to over $2 billion of customer demand across fiscal 2027 and 2028. We are executing on our strategy and remain on track for our long-term target of $15 billion by FY2031, supported by our ecosystem partners and major customers."
My Takeaway
The company delivered a record-breaking performance that exceeded Wall Street's expectations for both revenue and earnings. ARM demonstrated that it is successfully capitalizing on the AI infrastructure boom, particularly within data centers.
The narrative was a tale of two distinct markets. The data center segment was a massive bright spot, with royalty revenues more than doubling year-over-year as major hyperscalers like AWS, Google, and Microsoft accelerated their adoption of Arm-based architecture for AI workloads. Conversely, the traditional consumer electronics segment flashed warning signs. Management cautioned that global smartphone unit growth is poised to turn negative due to memory chip shortages. Because Arm’s designs are integrated into almost all global smartphones, this handset weakness poses a direct threat to near-term royalty volumes.
The spotlight was on Arm's homegrown AGI CPU. Demand for this new agentic AI processor has been explosive, with customers committing over $2 billion in orders for the next two fiscal years. However, this success revealed a critical vulnerability. By shifting toward designing full chips rather than just licensing IP, Arm is now exposed to physical supply chain realities. Management admitted they have only secured enough wafer and packaging capacity to fulfill the first $1 billion of that demand, leaving a massive backlog unmonetized in the near term.
CEO Rene Haas emphasized the successful execution of their long-term strategy, noting that ACV grew by 22% and the company remains firmly on track to hit its $15 billion revenue target by fiscal 2031. Looking ahead, the company is expecting revenue to grow by +20% next quarter.
Long ARM.
Uber Technologies (UBER)
Key Metrics
Revenue: $13.2 billion, an increase of +14% YoY
Operating Income: $1.9 billion, an increase of +57% YoY
Profits: $263.0 million, compared to $1.8 billion last year
Earnings Release Callout
"Uber had an exceptional start to 2026, driven by strong execution and a continued focus on product innovation. Despite a complex backdrop marked by war and weather, we delivered top line and profitability at or above the high end of our guidance. Gross bookings were up 21% year on year, reflecting the durability of our platform, and that growth was once again trip and audience-led, with our audience growing 17% alongside strong engagement."
My Takeaway
Uber reported a strong quarter, delivering significant profitability improvements and robust bookings growth. This sharp drop in net income was isolated to a $1.5 billion pre-tax non-cash charge related to the declining value of its equity stakes in Didi and Grab. Looking past this accounting adjustment, the core business model proved highly lucrative.
Diving into the business highlights, gross bookings reached $53.72 billion across the platform. The Delivery segment was the fastest-growing division, posting a 34% increase in revenue to $5.07 billion. While the Mobility segment's revenue growth was a more modest 5%, its operating income surged 28%, demonstrating exceptional margin expansion. Additionally, the Freight division finally returned to positive revenue growth after nearly two years of macro-driven declines. A central pillar of Uber's success remains its Uber One subscription program, which crossed 50 million members who now drive over half of the company's total gross bookings.
Turning to financial highlights, Uber's cash generation capabilities are now fully established. The company produced $2.3 billion in free cash flow during the quarter. This immense liquidity allowed management to aggressively return capital, executing a record $3.0 billion in share repurchases. The most financially impactful development of the quarter, however, was the structural reduction in U.S. mobility insurance costs, which is expected to save the company hundreds of millions of dollars over the full year.
Management shared several key takeaways during the earnings call. hey detailed a strategic decision to reinvest the massive insurance savings directly into lower consumer fares rather than hoarding the margin. By dropping prices, Uber is actively stimulating demand and accelerating trip growth, particularly in previously expensive markets like California. Management also highlighted their progress in the autonomous vehicle space, noting a tenfold increase in AV trips as they prepare to scale operations to 15 cities by year-end.
Long UBER.
👉 Investor Events / Global Affairs:
Anthropic partnered with SpaceX, and Coinbase made major layoffs.
Anthropic Partners With SpaceX as AI Infrastructure Race Accelerates
Source: NEWSTOP
Anthropic announced a major partnership with Elon Musk’s SpaceX, gaining access to the company’s massive “Colossus 1” AI data center in Memphis as demand for AI compute continues exploding. The facility reportedly houses more than 220,000 Nvidia GPUs, giving Anthropic additional capacity to scale products like Claude Pro, Claude Max, and its rapidly growing AI coding tools.
The deal is a major win for both companies. For Anthropic, it helps relieve growing usage constraints as enterprise demand surges. For SpaceX, it strengthens the company’s positioning ahead of its expected IPO by showcasing ambitions far beyond rockets and satellites — including becoming a serious AI infrastructure provider.
Even more interesting: Anthropic is reportedly exploring partnerships with SpaceX around space-based data centers, a concept Musk has discussed as a long-term solution to the enormous energy and compute demands of future AI systems.
The bigger takeaway is that the AI race is no longer just about building the best models — it’s increasingly about securing enough power, chips, and infrastructure to run them. Compute capacity is quickly becoming one of the most valuable strategic assets in the global economy.
"We've had difficulties with compute," Amodei said on stage. "We're sorry if sometimes it takes some time, but we're gonna keep going to acquire as much as we can."
Coinbase Cuts 14% of Workforce as AI Reshapes the Industry
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