JJG retweeted
Is $AAPL a bubble stock?
Trading at its highest P/E in over 20 years with decelerating growth.
I don’t think this is going to end well for investors buying at today’s share price.
Chart from @FASTGraphs
JJG retweeted
$TSLA recognized a net $447M in Q3 gross profit from one-time tariff refunds, which accounted for over 61% of Q3 EBIT, meaning its core biz generated an EBIT margin of just 1.0%, & pro-forma non-GAAP EPS of 38c missed Wall Street’s 44c est. Why is this being ignored by the media?
SpaceX said on Thursday that its stake in Elon Musk’s The Boring Co. netted the company an investment gain of $561 million during the third quarter.
The gain accounted for more than half of SpaceX’s “other income” in the period and boosted its net income, which landed at just over $4 billion: cnb.cx/4yH7wmX
JJG retweeted
This paragraph from $META's inside 10-q filling may mark the official announcement that the funding environment for the AI buildout has turned the corner. (HT: Barclays' Alexander Altmann)
JJG retweeted
This is crazy‼️
The $SPX is ~1% off its highs.
Goldman's High Beta Momentum basket is -41%.
We’ve never seen anything like this.
JJG retweeted
An earnings beat can still trigger a selloff. Kelly Granat on whisper numbers, crowded positions and pod incentives.
Kelly Granat, CIO of Lone Pine, explains:
"I have never worked at a pod but have several friends who have, still do, and have come out of there."
"You have 20, 30, 40 desks covering a sector. They look at the same data, sit in the same meetings, on the same calls."
"You'll have 20, 25 books long a stock into a quarterly print."
"The numbers come out, and it was better, but it wasn’t better enough because the whisper number, the data was suggesting they were gonna beat by three points, and it only beat by two points, and so the stock’s actually gonna sell off."
"Hand me an earnings release and I'll tell you what the stock does was a fundamental game we were good at a decade ago. Now it's a coin toss."
"The opening reaction vs the full day: everyone's covering the short because it was bad, but it wasn't worse."
"They have drawdown limits — monthly, quarterly. Their capital gets pulled. That's the lives they lead."
"Market reactions to events are a function of those incentives and those structures."
JJG retweeted
Credit Default Swaps for Oracle, Broadcom, and Nvidia continue to widen out, with Oracle at a 23% default probability, Nvidia at about 8%, and Broadcom at 12%. Which is pretty amazing, given these are among the largest companies in the world.
JJG retweeted
This might be one of the craziest $AMZN charts I’ve seen in a while…
Amazon’s remaining performance obligations, primarily tied to AWS, have exploded to $496 BILLION.
That was just $164B in Q3 2024.
In less than two years, the contracted revenue sitting ahead of the business has roughly tripled!!
JJG retweeted
HUSKIES SCORE AT THE BUZZER🚨
Laure Aubin nets her first career goal as time expires in the second😤
UConn 4, Princeton 2
📺 shorturl.at/t43nS
JJG retweeted
$STIM is the largest distributor of SPRAVATO in the country, and the drug just crushed it in the $JNJ quarter. Those sales translate directly to high-margin clinic revenue for $STIM. Probably means absolutely nothing for the upcoming quarter with the stock once again heavily discounted vs peers.
Probably wrong, NFA.
Lost in the $JNJ noise: Q3 results show Spravato delivered its best quarter yet - generating $624m in sales (+36% YoY).
With YTD revenue at $1.68B and Q4 historically being the drug’s strongest quarter since 2022, there is now little doubt Spravato ends around $2.3B/$2.4B for the year - roughly 40% annual growth seven years post-approval. Impressive.
Last full year without another psychedelic on the market too. How that impacts Spravato's sales growth going forward will be a pertinent question throughout 2027.
$PSIL
JJG retweeted
Apple is now trading at nearly 11x sales, the highest valuation level in company history. $AAPL
JJG retweeted
448 days since my last pitch ($ABVX), it’s now finally time for my next one: $ZURA (Zura Bio).
Like with the $NKTR and $ABVX pitches before this, I will post a general outline of my research on $ZURA as a thread here. However, for those looking to really get into the weeds, there is a Google Doc link to the full length pitch attached below.
Let’s dig in.
docs.google.com/document/d/1…
JJG retweeted
"45% of the S&P is now negative beta. Basically... when the market goes up half goes down now."
"That has never happened before. Zero. Never."
Getting technical: All indicators are saying the rally began on Friday, similar to April 2026.
Nasdaq New Highs - New Lows has bottomed and is currently in uptrend.
S&P 500 Volume McClellan Summation Index is another indicator suggesting markets will rally into the midterms.
Finally, the most reliable indicator S&P 500 50 day / 200 day also is clearly pumping upward.
Remember what I said before though, VIXEQ is moving upward but COR1M is stagnant. VIXEQ measures individual stock volatility while COR1M measures correlation in the index.
In plain English, when VIXEQ is rising while COR1M is flat means a handful of stocks are driving the index upward while most of the stocks can be flat or falling.
This is a stock pickers market, with low correlation and violent moves in individual stocks.
JJG retweeted
$PRGO
Reports surfaced today that CVC Capital is said to be in discussions to acquire Perrigo, and merge it with its Cooper Consumer Health business. Earlier this year, German pharma Co Stada Arzneimittel was rumored to have explored buying Perrigo.
JJG retweeted
The memory trade became so consensus even the Holy Father knows the base case.
Intelligence must draw on memory. The mind must not simply compile data — as an algorithm now does more quickly than we can — but recall lived experiences, which contain depths of meaning that only the human soul can recognize, and connect more deeply with the goodness of these experiences. Everything that is good begins “with the Spirit” and thus possesses a breath, a dynamism and a sense of communion that, once experienced, are engraved upon the heart. vatican.va/content/leo-xiv/e…
