u/moomoo_global

SpaceX is changing how the market looks at the space industry. What started as a rocket company has expanded into a broader ecosystem covering launch services, satellite connectivity, and future space infrastructure.

The IPO has brought renewed attention to the space economy, but the bigger story goes beyond one company. Launch costs have fallen roughly 97% over the past four decades, and global space economy projections now point toward $1.8 trillion by 2035. Lower costs, reusable rockets, and growing satellite demand are reshaping how businesses think about space at scale.

The ecosystem includes areas such as launch technology, satellite communications, aerospace components, and data infrastructure. As space becomes more commercialized, more companies may become connected to this long-term trend.
Space is moving from exploration to infrastructure. Do you think space will become the next major technology investment theme, or is the market getting ahead of the fundamentals?

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.

July CPI came in at 3.4% year over year, with core CPI easing to 2.5%, the slowest annual pace since March 2021. Combined with a payrolls print well below consensus, the data shifted market expectations: the probability of a September hike fell, and full-year pricing moved toward a single 25-basis-point move.

The two reports together removed the clearest remaining argument for further tightening. With the Fed already on hold and both labor and inflation now softening simultaneously, the case for additional hikes is harder to make. Rate-sensitive sectors responded accordingly. Jackson Hole will likely be the first clear signal of how far the Fed is prepared to go.

Headline at 3.4% and core at 2.5% are trending toward target, but still above it. How much further progress the Fed needs before signaling a genuine step back is probably what the market will be pricing around through the rest of August.

Coherent reported Q4 revenue of $2.05 billion, up 34% year over year, with non-GAAP EPS of $1.74 against a $1.62 consensus. Q1 guidance came in at $2.2 to $2.4 billion. The stock fell in after-hours trading.

The quarter was solid by most measures, but the setup made it hard to satisfy. Shares had rallied 8% pre-report and over 200% in the past year. The specific friction was margin: Q1 gross margin is projected at only 30 basis points above Q4, suggesting revenue scale isn't translating into profitability as fast as expected. Cash flow told a similar story, with operating cash flow dropping sharply as capex nearly doubled quarter over quarter and management flagging continued increases ahead.

The underlying demand case looks intact. What's harder to model is how much of it was already priced in before the report arrived.

Source:
https://www.coherent.com/content/dam/coherent/site/en/documents/investors/financial-releases/2026/august-12/earnings-release-fy26-q4.pdf
https://www.barrons.com/articles/coherent-earnings-stock-price-7c2d746e

Lumentum reported $1.006 billion in Q4 revenue, up 109.3% year over year, with non-GAAP EPS of $3.23, roughly 8% above estimates, and gross margin at 47.4%, extending an eight-quarter streak of sequential improvement. Q1 guidance of $1.225 to $1.275 billion also came in well above consensus.

The margin improvement reflects a shift in product mix toward higher-margin AI optical modules and the operating leverage that comes with scale, rather than just top-line momentum. The company is also moving from 800G transceiver shipments toward 1.6T production, representing the next phase of the upgrade cycle and a potential source of continued demand. The dependency on hyperscale AI infrastructure spending remains the variable the rest of the thesis rests on.

The numbers reflect what AI infrastructure buildout looks like at the component level. How durable that looks once the upgrade cycle matures is still the open question.

Source:

https://investor.lumentum.com/financial-news-releases/news-details/2026/Lumentum-Announces-Fourth-Quarter-and-Full-Fiscal-Year-2026-Results/default.aspx

https://www.barrons.com/articles/lumentum-earnings-stock-price-d8f52637

CoreWeave reported $2.58 billion in Q2 revenue, up 112% year over year, with adjusted operating income rising from $21 million in Q1 to $128 million. The margin trajectory is tracking ahead of where most expected it to be at this stage.

What makes the quarter notable is the sequencing. The operating leverage showed up before a 25% price increase took effect in July, meaning there may be another margin catalyst still ahead. A recently signed A100 contract extending through 2029 also pushes back on the assumption that older GPU generations lose economic value quickly. The tension that hasn't changed is the capital structure: FY26 capex guidance raised to $35–39 billion against revenue guidance of $12.4–13.2 billion

The margin story is finally showing something real. How it holds up as the capex bill continues to compound is probably what the next few quarters are really testing.

Source:
https://investors.coreweave.com/news/news-details/2026/CoreWeave-Reports-Strong-Second-Quarter-2026-Results/default.aspx
https://www.bloomberg.com/news/articles/2026-08-11/coreweave-revenue-surges-on-booming-demand-for-ai-computing

The open versus closed model debate is running hot, and the economics are shifting: Closed-model inference is becoming cheaper, while the realized cost of using open-weight models is rising. Morgan Stanley projects roughly $3 trillion in AI infrastructure spending through 2028, with over 80% of that still ahead.

Regardless of the model approach, AI still requires compute, power, security, and enterprise-scale deployment infrastructure. Open models can reduce licensing costs, but they do not remove the underlying infrastructure bill. Companies such as NVIDIA, AMD, Broadcom, Microsoft, and Amazon are all part of this broader AI ecosystem, supporting different parts of the AI development cycle. The key question is whether AI growth will remain concentrated around a few leading models, or continue expanding across the broader technology stack.

Do you think the next phase of AI development will be driven more by model innovation, or by the infrastructure supporting it?

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.

Roundhill launched LYTE, an actively managed photonics and optics ETF, with a 0.65% management fee. Goldman Sachs projects the optical interconnect market to grow from $15 billion in 2026 to $154 billion by 2028, and Nvidia has already committed $2 billion each to two of LYTE's top holdings, Lumentum and Coherent. The fund's top five positions account for roughly 73.19% of the portfolio.

Unlike competing photonics ETFs such as LAZR and FOTO, which hold 28 or more positions across broader photonics applications, LYTE makes a much narrower bet on the optical communication buildout tied to AI infrastructure. At this level of concentration, individual company earnings can move the fund significantly in either direction, and valuations in the space already reflect substantial growth expectations.

The broader trend in optical communication appears intact. After an early run-up and a recent pullback, the sector seems to have shifted from momentum-driven to earnings-driven, which changes what each quarter means for funds like this.

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. 

ETFs are subject to market risk, including the possible loss of principal. ETF shares are bought and sold at market price, which may differ from NAV. This is not investment advice. Please read the prospectus carefully before investing.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.

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SanDisk reported F4Q revenue of $9.0 billion, up 372% year over year, with non-GAAP gross margin of 84.6% and EPS of $39.25. Despite the record quarter, shares fell after management guided F1Q27 revenue and margin slightly below the market’s aggressive expectations. 

Datacenter went from roughly 12% of bit shipments in FY25 to about 38% in FY26, and that shift is the more important number. The company has also locked in eight-customer agreements covering $93.9 billion in minimum contracted revenue at roughly 80% gross margin floors. For a historically cyclical business, that level of forward visibility is unusual. Whether the guide reflects a timing gap or softer near-term demand is the tension.

Memory has always traded on cycles. SanDisk is pitching something closer to infrastructure. Curious whether others see the Q1 softness as noise, or a reason to revisit the thesis.

Source:

https://investor.sandisk.com/news-releases/news-release-details/sandisk-reports-fiscal-fourth-quarter-2026-financial-results

https://www.bloomberg.com/news/articles/2026-08-05/sandisk-earnings-give-dip-buyers-an-opening-after-stock-s-plunge

Palantir reported Q2 revenue of $1.935 billion, up 92.8% year over year. Net income exceeded $1 billion, up 225% year over year. Operating margin reached 47.1%, a company record, and net margin hit 55.1%, an all-time high and the sixth consecutive quarter of improvement.

The segment shift is the story worth watching. Government revenue reached $990 million and commercial came in at $945 million, a gap of just $45 million. US commercial grew 149% year over year to $764 million, and management expects commercial to become the larger segment within one to two quarters. Full-year revenue guidance was raised to between $8.150 billion and $8.158 billion.

For most software companies, near-100% growth and 55.1% net margins point in opposite directions. Palantir is running both at once. The Q3 guide of 83.1% growth suggests the revenue line is not the concern. Whether margins can hold at this level as the business scales is the open question.

Source:
https://www.palantir.com/q2-2026-letter/en/
https://www.bloomberg.com/news/articles/2026-08-03/palantir-is-stuck-in-worst-of-both-worlds-bind-with-ai-software

SpaceX reported Q2 revenue of $7.81 billion, up 66% quarter over quarter, with adjusted EBITDA of $3.54 billion. Starlink remained the profit engine, generating $2.60 billion in EBITDA on 12 million subscribers. The more watched number was the AI segment.

For the first time, the AI segment turned EBITDA positive, swinging from a $609 million loss to a $1.15 billion profit. That matters, but operating margins remained at negative 49.1% after depreciation and stock-based compensation, meaning the profitability exists at the cash level but not yet at the accounting level. SpaceX is using Starlink's cash generation to fund an AI buildout that has not yet cleared its own cost structure, and capex more than doubled in the quarter to represent 86% of total company spending.

Roughly $114 billion in restricted shares become eligible for sale in the near term. Whether the AI narrative holds up against that pressure is the more immediate question.

Source:

https://s21.q4cdn.com/184289198/files/doc_financials/2026/q2/SpaceX-Reports-Second-Quarter-2026-Results.pdf

https://www.reuters.com/business/media-telecom/spacex-quarterly-revenue-surges-debut-results-strong-growth-its-starlink-2026-08-04/

AMD reported Q2 revenue of $11.54 billion against an $11.28 billion estimate, with adjusted EPS of $1.66 beating the $1.61 consensus. Data Center revenue of $6.7 billion grew 107% year over year, and now accounts for 58% of total revenue. Despite those beats, shares fell sharply after hours. 

The after-hours reaction tells a story the numbers do not. The beat was modest relative to expectations that recent AI momentum had already elevated. Gross margin held flat at 56.2%, and the AI mega-deals driving future growth have not yet shown up in Q3 guidance, possibly pushing the real payoff into Q4. Against that, CEO Lisa Su projected data center revenue to more than double again from 2026 to 2027. If that holds, the AI cycle has another year of meaningful fuel ahead.

When the stock falls on a revenue beat and raised guidance, expectations have become the harder problem to solve.

Source:

https://ir.amd.com/news-events/press-releases/detail/1295/amd-reports-second-quarter-2026-financial-results

https://www.bloomberg.com/news/articles/2026-08-04/amd-sales-outlook-disappoints-investors-after-ai-fueled-rally

Meta beat Q2 estimates on both revenue and ad revenue, with total revenue of $60.80 billion up 28% year over year. Even so, the stock fell more than 7% after hours. Operating income of $18.8 billion missed the $21.5 billion consensus, with margin contracting from 43% to 31%.

The gap partly reflects $2.4 billion in legal charges and $1.18 billion in severance. The more structural story is capex. Capital expenditures for the quarter reached $31.08 billion, and full-year CapEx guidance was raised to $135 to $145 billion, compressing free cash flow by roughly 91% to $784 million. Management outlined potential revenue from agentic tools, model APIs, and compute, with over 1 million businesses already using Meta's agents weekly. The ad engine is effectively funding a different kind of company. 

How long investors will fund this level of capex before cloud and enterprise revenue becomes visible is probably what drives the next leg. Do you think the spending is justified, or is free cash flow becoming a real concern?

Source:

https://investor.atmeta.com/investor-news/press-release-details/2026/Meta-Reports-Second-Quarter-2026-Results/default.aspx

https://www.bloomberg.com/news/articles/2026-07-29/meta-gives-lackluster-third-quarter-revenue-forecast

Intel delivered another major earnings beat in Q2, supported by accelerating server CPU demand, stronger manufacturing execution and rapid growth in purpose-built silicon. Revenue came in at $16.13 billion, up 25% year over year and well ahead of the $14.43 billion consensus, with adjusted EPS of 42 cents doubling the 21-cent estimate.

The Data Center and AI segment drove most of the surprise, with revenue climbing 59% year over year to $6.3 billion as server CPU demand continued to exceed available supply. Xeon 6 achieved one of Intel's fastest product ramps, and purpose-built silicon revenue nearly tripled year over year. Intel Foundry narrowed operating losses by $348 million sequentially. Q3 guidance of $15.8-16.8 billion and adjusted EPS of 38 cents both cleared consensus, with CapEx raised to over $20 billion for 2026.

The numbers this quarter were hard to argue with. Whether Intel can sustain this pace as supply catches up to demand is the question the next few quarters will need to answer.

Source:

https://www.intc.com/news-events/press-releases/detail/1776/intel-reports-second-quarter-2026-financial-results

https://www.bloomberg.com/news/articles/2026-07-23/intel-needs-more-than-blowout-earnings-as-chips-rally-falters

Intel delivered another major earnings beat in Q2, supported by accelerating server CPU demand, stronger manufacturing execution and rapid growth in purpose-built silicon. Revenue came in at $16.13 billion, up 25% year over year and well ahead of the $14.43 billion consensus, with adjusted EPS of 42 cents doubling the 21-cent estimate.

The Data Center and AI segment drove most of the surprise, with revenue climbing 59% year over year to $6.3 billion as server CPU demand continued to exceed available supply. Xeon 6 achieved one of Intel's fastest product ramps, and purpose-built silicon revenue nearly tripled year over year. Intel Foundry narrowed operating losses by $348 million sequentially. Q3 guidance of $15.8-16.8 billion and adjusted EPS of 38 cents both cleared consensus, with CapEx raised to over $20 billion for 2026.

The numbers this quarter were hard to argue with. Whether Intel can sustain this pace as supply catches up to demand is the question the next few quarters will need to answer.

Source:
https://www.intc.com/news-events/press-releases/detail/1776/intel-reports-second-quarter-2026-financial-results
https://www.bloomberg.com/news/articles/2026-07-23/intel-needs-more-than-blowout-earnings-as-chips-rally-falters

Tesla's shares dropped in extended trading after reporting second-quarter earnings that missed Wall Street expectations by a wide margin, as a sharp drop in operating profitability and narrowed gross margins overshadowed record revenue growth.What came in was a split quarter: total revenue surged 26% to $28.24 billion, beating the $26.32 billion consensus, but adjusted EPS came in at 33 cents against a 51-cent estimate, and operating income fell 57% year over year to $398 million, well short of the $1.39 billion analysts expected.

The profitability miss reflected CapEx more than doubling to $5.79 billion, which management described as its largest investment period yet. FSD subscriptions grew 56% to 1.48 million, the Robotaxi expanded to seven metro areas, Cybercab assembly started in Texas, and Optimus production is anticipated before year-end. Trailing twelve-month revenue crossed $100 billion for the first time, which may be the frame management prefers.

Whether the growth initiatives eventually close the gap with the profitability miss is a question the market has been asking about Tesla for a long time, and this quarter doesn't fully answer it either way.

Source:
https://www.bloomberg.com/news/articles/2026-07-22/tesla-second-quarter-earnings-miss-wall-street-s-expectations
Tesla misses on earnings, as free cash flow turns negative and margins slide