July 20, 2026 16:15 ET | Source: Powell Industries, Inc.
HOUSTON, July 20, 2026 (GLOBE NEWSWIRE) -- Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom engineered solutions for the management, control and distribution of electrical energy, today announced that it will release results for the fiscal third quarter ended June 30, 2026 on Monday, August 3, 2026 after the market closes. In conjunction with the release, Powell Industries has scheduled a conference call, which will be broadcast live within the Investor Relations section of the Company’s website, on Tuesday, August 4, 2026 at 11:00 a.m. eastern time.
What: Powell Industries Fiscal 2026 Q3 Earnings Conference CallWhen:Tuesday, August 4, 2026 – 11:00 a.m. eastern / 10:00 a.m. centralHow:Live via phone by dialing 1-833-953-2431 (domestic) or 1-412-317-5760 (international) and asking for the Powell Industries call at least 10 minutes prior to the start time, or live over the Internet by logging on to the web at the address belowWhere:powellind.com A telephonic replay of the conference call will be available through August 11, 2026 and may be accessed by calling 1-855-669-9658 (domestic) or 1-412-317-0088 (international) and using passcode 3105582#. A webcast archive will also be available at powellind.com shortly after the call and will be accessible for approximately 90 days. For more information, please contact Robert Winters at Alpha IR Group at 312-445-2870 or email [email protected].
Powell Industries, Inc., headquartered in Houston, designs, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy. Powell markets include large industrial customers such as utilities, oil and gas producers, refineries, petrochemical plants, pulp and paper producers, mining operations and commuter railways. For more information, please visit powellind.com.
Contacts:Michael W. Metcalf, CFO Powell Industries, Inc. 713-947-4422 Robert Winters Alpha IR Group [email protected] 312-445-2870
Cory Johnson, chief market strategist at Epistrophy Capital Research, analyzes SpaceX's business model and revenue streams, examines the company's AI capabilities compared to its competition and previews the upcoming OpenAI and Anthropic IPOs. Cory also takes a closer look at the impact Elon Musk has on his companies and what that means for the stock price.
Apple Inc (NASDAQ:AAPL, XETRA:APC) is expected to beat consensus estimates for its fiscal third quarter, according to Bank of America, even as the bank takes a more conservative view of iPhone seasonality tied to a staggered launch schedule.
BofA said investor focus will center on component cost inflation, the durability of gross margins, and the transition following the end of Tim Cook's tenure as CEO.
The bank forecasts fiscal third-quarter revenue of $109 billion and earnings per share of $1.89, above Street estimates of $108 billion and $1.87, implying revenue growth of 16% year over year, compared with Apple's guidance range of 14% to 17%.
BofA said iPhone build plans, including for Pro models, remain robust. However, the analysts have factored in a more conservative outlook given the staggered rollout this cycle: Pro, Pro Max and a foldable model launching in September, with the base model and Air arriving in March.
Higher prices are also part of that calculus. The bank noted the Street may not be fully reflecting this launch timing in its estimates.
On margins, BofA models product gross margin declining 190 basis points sequentially in the June quarter to 36.8%, with a further 280-basis-point drop in the September quarter to 34.1%. The bank views this as transitory, projecting a recovery to 38.5% in the December quarter as new iPhones, including the foldable, launch at higher prices, with a potential added boost from roughly $3 billion in tariff recovery.
Overall company gross margin is modeled at 48.2% for the June quarter, within Apple's guided range of 47.5% to 48.5%.
For fiscal fourth quarter, BofA is well below Street on revenue and earnings, forecasting $106 billion and $1.88 per share against consensus of $114 billion and $2.01, a gap the bank attributes largely to more conservative iPhone unit assumptions tied to the staggered launch.
On services, BofA expects fiscal third-quarter revenue growth of 14% year over year, in line with guidance. App Store growth has slowed, with SensorTower data cited showing 3.2% year-over-year growth in the quarter, down sharply from 9.8% in the prior quarter. BofA expects that softness to be offset by strength in iCloud and licensing.
BofA reiterated its Buy rating on Apple with a price objective of $380, based on 37 times its calendar 2027 estimated EPS of $10.29. The bank also nudged up its fiscal 2027 and 2028 EPS estimates to $9.91 and $10.89, respectively.
Apple reports fiscal third-quarter results after market close on July 30.
Apple (AAPL 2.11%) stock fell 2.3% through 2:45 p.m. ET Monday afternoon -- but not for lack of trying.
In a note intended to boost the stock, Bank of America analyst Wamsi Mohan reiterated his "buy" rating and $380 price target. With Apple stock trading below $327, that should have sounded encouraging -- but investors sold it instead of buying.
Why?
Image source: The Motley Fool.
Accentuate the negative, eliminate the positive Consider what Mohan had to say about Apple. Long-term, he likes Apple stock just fine and predicts that, by December 2026, new iPhone launches at higher prices will start boosting profit margins and improving company profits. Unfortunately for Apple, investors are more focused on the short term today -- and Mohan had some cautionary words on that front.
Heading into the Q3 2026 report due out July 30, the analyst warns that rising component costs will subtract 190 basis points from quarterly gross margin, which will average 36.8%. Next quarter's numbers could look even worse, with Q4 gross margins falling further to 34.1%.
Granted, Mohan reassures that these declines are "transitory" and predicts margins will rebound above 38% in fiscal Q1 2027. Granted, he also expects Apple to beat analyst forecasts in each of Q3 and Q4 despite weak margins.
It doesn't matter. Investors heard only the part about declining gross margins for two straight quarters -- and sold Apple stock today.
Today's Change
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What's next for Apple stock? But can you blame them? Priced at 40 times earnings but pegged for only a 13% long-term growth rate, Apple stock doesn't look especially cheap today. Weakening margins could make it look even more expensive as profits suffer, too. On top of all that, longtime CEO Tim Cook is headed for the exits.
Maybe selling Apple ahead of earnings isn't the worst idea after all.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.
Apple Inc (NASDAQ:AAPL, XETRA:APC) is expected to beat consensus estimates for its fiscal third quarter, according to Bank of America, even as the bank takes a more conservative view of iPhone seasonality tied to a staggered launch schedule.
BofA said investor focus will center on component cost inflation, the durability of gross margins, and the transition following the end of Tim Cook's tenure as CEO.
The bank forecasts fiscal third-quarter revenue of $109 billion and earnings per share of $1.89, above Street estimates of $108 billion and $1.87, implying revenue growth of 16% year over year, compared with Apple's guidance range of 14% to 17%.
BofA said iPhone build plans, including for Pro models, remain robust. However, the analysts have factored in a more conservative outlook given the staggered rollout this cycle: Pro, Pro Max and a foldable model launching in September, with the base model and Air arriving in March.
Higher prices are also part of that calculus. The bank noted the Street may not be fully reflecting this launch timing in its estimates.
On margins, BofA models product gross margin declining 190 basis points sequentially in the June quarter to 36.8%, with a further 280-basis-point drop in the September quarter to 34.1%. The bank views this as transitory, projecting a recovery to 38.5% in the December quarter as new iPhones, including the foldable, launch at higher prices, with a potential added boost from roughly $3 billion in tariff recovery.
Overall company gross margin is modeled at 48.2% for the June quarter, within Apple's guided range of 47.5% to 48.5%.
For fiscal fourth quarter, BofA is well below Street on revenue and earnings, forecasting $106 billion and $1.88 per share against consensus of $114 billion and $2.01, a gap the bank attributes largely to more conservative iPhone unit assumptions tied to the staggered launch.
On services, BofA expects fiscal third-quarter revenue growth of 14% year over year, in line with guidance. App Store growth has slowed, with SensorTower data cited showing 3.2% year-over-year growth in the quarter, down sharply from 9.8% in the prior quarter. BofA expects that softness to be offset by strength in iCloud and licensing.
BofA reiterated its Buy rating on Apple with a price objective of $380, based on 37 times its calendar 2027 estimated EPS of $10.29. The bank also nudged up its fiscal 2027 and 2028 EPS estimates to $9.91 and $10.89, respectively.
Apple reports fiscal third-quarter results after market close on July 30.
Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) is expected to deliver second quarter results above Wall Street expectations when it reports earnings on July 29, according to Bank of America analysts, who believe that healthy advertising demand and AI-driven improvements should support revenue and earnings despite foreign exchange headwinds.
Bank of America revised its estimates and now expects Meta to report Q2 revenue of $60.6 billion and earnings per share of $7.50, above the consensus estimates of $60.2 billion and $7.18, respectively. The firm wrote that stronger advertising trends were partially offset by the recent depreciation of the US dollar.
The analysts wrote that their channel checks indicate healthy ad growth during the quarter and expect upside to earnings following Meta's workforce reductions in May. They also estimate that investors will focus on AI-related initiatives during the earnings call, including content retrieval and advertising improvements from AI model integration, opportunities for Muse Spark, and the potential for external compute sales.
Looking ahead, Bank of America expects Meta to guide Q3 revenue to between $60.5 billion and $63.5 billion, representing growth of roughly 18% to 24% year over year. The firm estimates Q3 revenue of $63.5 billion and earnings per share of $7.22, compared with consensus expectations of $63 billion and $7.03.
On spending, the analysts estimate Meta could lower the upper end of its expense guidance by $1 billion to $2 billion following recent layoffs. However, they also see the potential for the company to raise its capital expenditure outlook to between $135 billion and $150 billion from the current range of $125 billion to $145 billion, citing higher memory costs.
Bank of America also raised its longer-term forecasts, adding $5 billion in estimated 2027 revenue to reflect potential AI capacity benefits following reports of a possible compute agreement with Anthropic. The firm now estimates 2027 revenue of $316 billion and earnings per share of $35.00, while also increasing its 2028 revenue forecast.
The bank reiterated its ‘Buy’ rating and maintained its $835 price objective, above current levels of about $650.
It wrote that Meta's valuation does not fully reflect the potential benefits of expanding AI capacity and identified growing visibility into new revenue streams, advertising gains from large language model integration, continued AI model improvements and chip advances as potential drivers of future sentiment.
It also highlighted risks including the possibility of higher 2027 capital spending, capital raises and an upcoming social media addiction trial expected to begin in August.
ReconAfrica CEO Brian Reinsborough joined Steve Darling from Proactive to discuss preliminary production testing results from the Kavango West 1X discovery well, where the company has successfully produced hydrocarbons to surface during testing of the Elandshoek formation.
Production testing began on June 8, 2026, with the company completing tests on the three lowest zones in the Elandshoek formation. The uppermost of those zones flowed natural gas to surface during three separate flow tests, with gas samples collected for laboratory analysis while the remaining hydrocarbons were safely flared. Results from U.S. laboratory testing are expected in the coming weeks.
The well's 1,657-metre Otavi section, including both the Huttenberg and Elandshoek formations, has been cased and cemented, allowing ReconAfrica to individually evaluate six optimized reservoir zones identified through well log analysis. Management noted that while the production casing is necessary for testing, it may limit access to naturally fractured reservoir rock.
Testing equipment is now being moved to the three shallower Huttenberg zones, which will evaluate 182 metres of reservoir, including 76 net metres of hydrocarbon pay identified from well logs. The company expects each zone to require up to 10 days of testing, with the next operational update anticipated in late August.
Reinsborough said the results mark a significant milestone, as the production test represents the first hydrocarbons ever produced to surface onshore Namibia. The company added that confirming naturally fractured carbonate reservoirs in the Elandshoek formation can support production further strengthens the potential of the Kavango Basin.
Meta Platforms, Inc.'s Q2 earnings will focus on CapEx guidance (already revised for 2026); market sentiment hinges on Meta's ability to monetize AI infrastructure investments. Meta's recent pivot toward becoming a neocloud provider and compute lessor, including a potential $10B Anthropic deal, could reduce its persistent valuation discount by providing a path to such monetization. Integration of AI models within Meta's social ecosystem and the scaling of Meta Glasses are key forward catalysts, though risks remain around CapEx returns and hyperscaler competition.
SpaceX Stock OvervaluedSpaceX stock was priced at $135 for its record-breaking IPO. Shares listed at around $150 and quickly traded higher for weeks with strong demand. Last week, the stock came back to earth, and new lows continue to be hit on Monday.
Last week amid the selloff, Tilson told investors they should continue to stay away.
"Don’t even think about bottom-fishing this one, as it still trades at 92 times trailing revenues," Tilson wrote in a daily newsletter. "That means it’s still nearly 10 times overvalued, given that I think a generous multiple for the stock would be 10 times revenues."
Tilson said he predicted many times previously that the stock was overvalued, calling SpaceX "the most overvalued large-cap stock of all time."
Tilson Critical of Analyst Price TargetsWhile Tilson is critical of the valuation of SpaceX stock, he says he doesn’t recommend that anyone short stocks.
In a recent email, Tilson shared the list of analyst ratings on SpaceX and their price targets. Tilson warns that investors should take the price targets with a grain of salt, given the large number of analysts who split a $500 million fee pool on the IPO and will profit from interest in shares.
Tilson said analysts from big banks and asset management companies could also benefit down the road.
"It will no doubt be seeking to use its stock to make lots of acquisitions – which means more banking and advisory fees," Tilson said.
Tilson said that with the company having quarterly losses, it could issue more debt and equity, which means more fees for bankers.
SpaceX Stock Price ActionSpaceX stock is down 1.2% to $122.52 on Monday versus a $120.10 to $225.64 trading range since going public. The new low was set earlier Monday morning.
Photo Courtesy: JOCA_PH on Shutterstock.com
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Shares of Tesla (NASDAQ:TSLA | TSLA Price Prediction) are down 17% year to date (YTD) in 2026, and the electric vehicle maker has one clear chance this week to change the story. Tesla reports its Q2 2026 results after the U.S. market close on Wednesday, July 22, marking the automaker’s most important earnings event of the summer.
The setup is unusual because delivery volumes have already been reported. Wednesday’s numbers will hinge on automotive margins, capital spending, and management’s tone on autonomy and full-year 2026 guidance rather than headline unit counts.
The options markets are pricing in a post-earnings move of 8% in either direction, consistent with Tesla’s history of sharp reactions to earnings. Last quarter, Tesla posted adjusted EPS of $0.41 on revenue of $22.4 billion, a beat that still failed to lift the shares.
What Wall Street Expects on Wednesday Consensus estimates place Tesla’s Q2 2026 adjusted EPS between $0.50 and $0.54, on revenue of $25.7 billion to $25.8 billion. That implies 25% EPS growth and 15% revenue growth year over year (YoY). Meanwhile, the full-year 2026 consensus on Tesla calls for revenue of $103.3 billion and EPS of $2.15.
Polymarket contracts assign a 75.5% probability that Tesla beats consensus EPS Wednesday, though volumes on that specific market are light. Volumes on that specific market are light, so the signal should be treated as directional rather than definitive.
Deliveries Are Strong, But Are They Durable? Tesla’s Q2 deliveries were pre-announced at 480,126 vehicles, up 25% YoY and up 34% sequentially. That makes it Tesla’s strongest EV quarter since Q3 2025 and removes a major overhang that plagued the shares earlier in the year.
Analysts note that the strength was aided by elevated gasoline prices tied to Middle East tensions and a China rebound in May, while U.S. demand looked soft. That raises the question of whether the number reflects genuine reacceleration or a pull-forward.
Margins, Capex, and Guidance in Focus The bigger question Wednesday is whether Tesla’s Q1 2026 margin recovery has held up. Tesla’s automotive gross margin expanded to 21% from 16% a year earlier, aided by lower material costs, higher average selling prices, and one-time warranty and tariff benefits.
Tesla raised its 2026 capital expenditure outlook to $25 billion from $20 billion and warned free cash flow could turn negative. Investors can watch for commentary on cash burn, production ramps, and how quickly AI and robotics spending translates into revenue.
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Energy storage remains a growing secondary engine. Tesla deployed a record 13.5 GWh in the quarter, up 40% YoY, giving the company a second high-margin business alongside vehicles.
Autonomy Is the Real Valuation Driver Some bull-case models rely almost entirely on autonomy monetization to justify Tesla’s valuation. Tesla’s Robotaxi service runs in Austin, Dallas, Houston, and Miami, yet remains behind Alphabet‘s (NASDAQ:GOOGL) Waymo. Waymo surpassed 500,000 fully autonomous rides per week as of Q1 2026, a scale gap that Tesla has yet to close.
Tesla CEO Elon Musk has pushed back the robotaxi timeline, and Optimus production has been described as slow. Any concrete update on Cybercab volumes, FSD monetization, or Optimus milestones could set the tone into year end because Tesla stock trades at a P/E ratio of 339.5x on autonomy strength.
A Diversified Way to Play the Theme Traders wanting exposure to the EV and autonomy trade without single-stock risk can look at the Global X Autonomous & Electric Vehicles ETF (NYSEARCA:DRIV). The fund holds Tesla as a major weight alongside global automakers, tech-hardware makers such as Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM), and battery suppliers.
The ETF is a narrow, volatile thematic product with concentration risk. Its shares still move meaningfully on Tesla headlines, just with a modest cushion from diversified holdings.
What to Watch This Week Tesla shares enter Wednesday’s report with retail sentiment on Reddit described as neutral to mixed, while the Wall Street analyst consensus price target sits at $425. That gap reflects both the 2026 reset and the wide range of outcomes still on the table.
Tesla stock has priced in known softness, so the reaction Wednesday will hinge on tone. Market watchers can watch for updates on automotive margins, capital expenditure trajectory, energy storage momentum, and concrete milestones on Cybercab and Optimus production.
The conference call will follow the release after the close. That call, along with the headline EPS figure, could determine whether Tesla stock can start clawing back its 17% year-to-date loss in the second half of 2026.
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Alphabet GOOGL shares climbed about 3% on Monday after a report said Google is developing a new AI server chip designed specifically to run its Gemini models more efficiently.
According to The Information, the chip, internally codenamed "Frozen v2," would permanently embed parts of Gemini's architecture into the silicon.
The design is intended to reduce the amount of computation and data movement required to process AI queries, potentially improving efficiency while lowering power consumption.
Alphabet responded to the report by emphasizing its ongoing investment in AI hardware innovation.
Its teams are “constantly researching and experimenting with new innovations to deliver maximum performance and efficiency for our users and customers” and “while not every project moves into production, this rigorous exploration is central to our full stack approach.”
“By co-designing our hardware and software from the ground up, we ensure our systems are integrated and highly optimized for real-world workloads,” continued the statement.
The stock was trading 1.3% higher at the time of writing.
Unlike Google's Tensor Processing Units (TPUs), which are designed to support a broad range of artificial intelligence models, Frozen v2 is reportedly being built exclusively for Gemini.
According to The Information, Google engineers believe the chip could deliver between six and ten times more tokens per unit of power than the company's latest TPUs.
Rather than replacing Google's general-purpose AI processors, Frozen v2 is expected to become a specialized addition to the company's custom-chip portfolio.
The report said Google is targeting deployment around 2028, with the project intended to help address internal compute shortages that have reportedly limited the company's cloud capacity.
Last month, Google reportedly agreed to pay SpaceX nearly $1 billion per month to help meet enterprise computing commitments.
The trade-off, according to the report, is flexibility.
Frozen v2 would remain effective only if future Gemini models continue using the same underlying architecture.
Google reportedly views the project as partly a trial run and does not expect to manufacture the chips at the same scale as its TPUs.
Google's hardware ambitions come as its AI business faces growing competitive pressure.
Recently, a Bloomberg report said the next Gemini Pro release has been delayed.
Google has also lost several senior researchers to competitors.
Chinese AI developers have also gained traction, with their models now accounting for 45% of token usage among US companies.
Recent releases from Moonshot AI and Alibaba have further narrowed the performance gap with leading US AI models.
Meanwhile, Google DeepMind Chief Executive Demis Hassabis is on Capitol Hill this week advocating for a federally overseen, industry-funded AI watchdog modeled after FINRA to evaluate advanced AI systems for national security risks before deployment.
Wall Street remains constructive on AlphabetGoogle continues expanding its in-house AI hardware efforts as it seeks to reduce dependence on Nvidia while lowering the cost of running Gemini.
Earlier this year, the company introduced its eighth-generation TPU and has increasingly marketed its chips to external cloud customers, including a multibillion-dollar agreement to supply TPUs to Meta Platforms.
Google has also approached other cloud providers that have traditionally relied on Nvidia GPUs.
Separately, BMO Capital raised its price target on Alphabet to $455 from $435 while maintaining an Outperform rating.
The firm increased its Google Cloud estimates for the fourth quarter and fiscal 2027, citing stronger cloud demand, expanding capacity and a substantial backlog.
However, BMO also noted that questions remain regarding Gemini model performance following reports that Gemini Pro 3.5 has been delayed as it falls short on certain benchmarks.
Alphabet Inc. aka Google stock has consistently outperformed its peers and broader markets this year, despite intensifying market scrutiny on AI investment returns. Yet GOOG's streak of earnings outperformance over the past year, and elevated capex outlook is raising the bar of expectations ahead of the upcoming Q2 update. In addition to fundamental outperformance, investors will likely heighten scrutiny on Google's AI ROI trajectory, and parse for catalysts that continue to support monetization and operating leverage despite surging capex.
Alphabet (GOOGL - Free Report) ) will officially kick off the Q2 earnings season for the Magnificent Seven when it reports its quarterly results after Wednesday's closing bell on July 22.
As the first mega-cap technology company to report, Alphabet could set the tone not only for the tech sector, but also for the broader market heading into reports from Microsoft (MSFT - Free Report) ), Meta Platforms (META - Free Report) ), Amazon (AMZN - Free Report) ), Apple (AAPL - Free Report) ), and Nvidia (NVDA - Free Report) ) over the coming weeks.
With AI remaining Wall Street's dominant investment theme, investors will be looking beyond another likely quarter of double-digit revenue growth to determine whether Alphabet's massive infrastructure investments will generate attractive returns.
Image Source: Zacks Investment Research
Alphabet’s Q2 Expectations Remain HighWall Street expects Alphabet to post another impressive quarter, with consensus estimates calling for earnings of approximately $2.90 per share on revenue of $101.22 billion when including Traffic Acquisition Costs (TAC), which are the payments Google makes to partners for directing traffic to its search and advertising services.
The top-and bottom-line figures would represent roughly 24% year-over-year growth, respectively.
Several key business segments and underlying metrics will likely determine whether Alphabet can exceed expectations:
Google Search advertisingYouTube advertising revenueGoogle Cloud growthOperating marginsAI-related capital expenditures (CapEx)Cloud continues to be one of Alphabet's fastest-growing businesses, with demand for AI infrastructure and enterprise cloud services expected to remain robust. Based on Zacks estimates, Google Cloud revenue is expected to soar 67% to $22.79 billion from $13.62 billion a year ago.
Meanwhile, investors will be watching to see whether Gemini AI strengthens Search and improves monetization across Alphabet's product ecosystem.
The Zacks ESPThe most intriguing reason for optimism is that the Zacks ESP (Expected Surprise Prediction) indicates Alphabet could once again surpass earnings expectations.
To that point, the Most Accurate and recent estimate among Wall Street analysts has Q2 EPS slated at $2.93 and nearly 2% above the underlying Zacks Consensus of $2.87 as shown below (Current Qtr).
Image Source: Zacks Investment Research
Alphabet has exceeded earnings expectations for 13 consecutive quarters with a very impressive average EPS surprise of 34.43% in its last four quarterly reports.
Image Source: Zacks Investment Research
Frozen v2 MomentumProviding a near-term catalyst, Alphabet shares are moving higher in Monday's trading session after reports that Google is developing a next-generation AI server chip, informally dubbed "Frozen v2," that would run its Gemini models more efficiently by embedding portions of the model's architecture directly into the silicon.
Key Features of Frozen v2
Model hardwiring: Unlike general-purpose AI chips that load models into memory, Frozen v2 would “freeze” certain aspects of Gemini’s neural-network design into the hardware, reducing the need for repeated data movement and calculations.Efficiency gains: Reports suggest Frozen v2 could serve 6-10 times more AI tokens per unit of power than Google’s latest custom Tensor Processing Units (TPUs).Specialized design: Frozen v2 will be a new line of homegrown chips, separate from TPUs, not intended to replace them.Deployment target: As early as 2028, although design details and how much model data will be hardwired are still being finalized. Why It Matters
Addressing AI capacity crunch: Alphabet is facing severe internal compute shortages, which have reportedly led to Google Cloud turning away some external customers.Cost and speed: By reducing overhead, Frozen v2 could lower energy costs and latency, making real-time AI services like voice assistants more feasible. Strategic self-reliance: This move deepens Google’s control over AI infrastructure, reducing reliance on competitors like Nvidia.Basically, Frozen v2 is a bold step toward model-specific AI hardware, aiming to make Gemini-based AI services faster, cheaper, and more scalable — but it comes with trade-offs in flexibility and model compatibility.
AI Spending Remains the Biggest QuestionPerhaps the most important aspect of Alphabet's report won't be the quarterly numbers themselves but management's outlook for AI spending.
Alphabet has dramatically increased its CapEx over the past year as it races alongside Microsoft, Amazon, and Meta to expand AI infrastructure. Investors generally remain comfortable with elevated spending as long as revenue and earnings continue growing at a healthy pace, but any indication that returns on those investments are slowing could pressure the stock.
Conversely, stronger-than-expected Cloud growth or encouraging commentary surrounding Gemini adoption could reinforce the bullish AI narrative that has driven tech stocks throughout 2026.
During Q1, Alphabet’s CapEx spiked 107% YoY to $35.7 billion, with the majority directed toward AI technical infrastructure.
Alphabet's current guidance is for approximately $175 billion-$185 billion in CapEx during FY26. The spending is primarily earmarked for expanding data centers, AI infrastructure, servers, networking equipment, and custom TPUs to support growing demand for Google Cloud and Gemini AI.
Aforementioned, investors will be looking for any updates to that outlook, as well as commentary on whether those investments are generating stronger Google Cloud growth and improving AI monetization.
Image Source: Zacks Investment Research
Alphabet’s Valuation Still Looks ReasonableDespite Alphabet's strong rally over the last year, its valuation remains relatively attractive compared to many other mega-cap tech stocks.
Alphabet stock currently trades at 24X forward earnings, which is near the benchmark S&P 500’s average while offering one of the strongest combinations of earnings growth, free cash flow generation, and balance-sheet strength among the Mag 7.
That reasonable valuation gives Alphabet less room for multiple contraction should earnings merely meet expectations or slightly miss them, while stronger guidance could justify additional upside if analysts continue raising profit estimates.
Image Source: Zacks Investment Research
Bottom LineBecause Alphabet reports before every other Mag 7 company this earnings season outside of Tesla ((TSLA - Free Report) ), its conference call may prove just as influential as its financial results.
Strong Q2 results and positive commentary would likely strengthen confidence ahead of reports from Microsoft, Meta, Amazon, and Nvidia, while disappointing guidance could weigh on sentiment across the entire technology sector.
Expectations are running high for Alphabet's Q2 results, but so is the company's earnings momentum. Optimistically, Alphabet stock currently sports a Zacks Rank #1 (Strong Buy) thanks to favorable earnings estimate revisions and a positive Earnings ESP, suggesting the company may be well positioned to deliver another quarterly beat.
Microsoft Corp (NASDAQ:MSFT)'s fiscal fourth quarter results will be a key test of the company's AI execution, with Azure growth, AI infrastructure spending and Microsoft 365 Copilot adoption expected to be the main focus when the software giant reports, according to Bank of America analysts.
The analysts wrote that "AI execution remains the central debate" heading into the results, adding that fiscal 2027 commentary on Azure growth, data center buildout and AI backlog conversion will also be closely watched.
The analysts highlighted that Azure remains the key metric for investors, with Microsoft previously guiding for 39% to 40% year-over-year growth in constant currency. They wrote that demand continues to outpace capacity, while the company's first Fairwater data center facility in Wisconsin is now fully operational, supporting the conversion of commercial remaining performance obligations (RPO) into revenue.
The analysts highlighted Microsoft's $627 billion commercial RPO balance reported last quarter and noted that management expects about 25% of that amount to be recognized over the next 12 months, which they said could help validate Microsoft's AI investment strategy.
Bank of America estimates Q4 capital expenditures, including finance leases, will total about $42 billion, up 32% from the prior quarter and 74% from a year earlier, as Microsoft continues expanding AI compute capacity. The analysts expect the higher spending to pressure free cash flow in the near term and wrote that Azure growth at or above the company's 39% to 40% outlook is likely needed to support the stock, while a weaker result could raise concerns about returns on AI investments.
The analysts also identified Microsoft 365 Copilot adoption and broader AI monetization as important proof points. Copilot reached 20 million paid seats in the third quarter after adding 5 million sequentially, while AI annual recurring revenue exceeded $37 billion, up 123% year over year. They expect both metrics to continue growing as AI capacity expands.
For the quarter, the Bank of America analysts forecast revenue of $87.4 billion, up 14.4% from a year earlier, driven by Intelligent Cloud revenue of $38.1 billion and Productivity and Business Processes revenue of $37.3 billion. They expect More Personal Computing revenue to decline 10.5% year over year to $12 billion, reflecting ongoing gaming headwinds.
The analysts reiterated a ‘Buy’ rating and a $500 price target on Microsoft shares, implying upside from current levels of about $400.
Microsoft Corp (NASDAQ:MSFT)'s fiscal fourth quarter results will be a key test of the company's AI execution, with Azure growth, AI infrastructure spending and Microsoft 365 Copilot adoption expected to be the main focus when the software giant reports, according to Bank of America analysts.
The analysts wrote that "AI execution remains the central debate" heading into the results, adding that fiscal 2027 commentary on Azure growth, data center buildout and AI backlog conversion will also be closely watched.
The analysts highlighted that Azure remains the key metric for investors, with Microsoft previously guiding for 39% to 40% year-over-year growth in constant currency. They wrote that demand continues to outpace capacity, while the company's first Fairwater data center facility in Wisconsin is now fully operational, supporting the conversion of commercial remaining performance obligations (RPO) into revenue.
The analysts highlighted Microsoft's $627 billion commercial RPO balance reported last quarter and noted that management expects about 25% of that amount to be recognized over the next 12 months, which they said could help validate Microsoft's AI investment strategy.
Bank of America estimates Q4 capital expenditures, including finance leases, will total about $42 billion, up 32% from the prior quarter and 74% from a year earlier, as Microsoft continues expanding AI compute capacity. The analysts expect the higher spending to pressure free cash flow in the near term and wrote that Azure growth at or above the company's 39% to 40% outlook is likely needed to support the stock, while a weaker result could raise concerns about returns on AI investments.
The analysts also identified Microsoft 365 Copilot adoption and broader AI monetization as important proof points. Copilot reached 20 million paid seats in the third quarter after adding 5 million sequentially, while AI annual recurring revenue exceeded $37 billion, up 123% year over year. They expect both metrics to continue growing as AI capacity expands.
For the quarter, the Bank of America analysts forecast revenue of $87.4 billion, up 14.4% from a year earlier, driven by Intelligent Cloud revenue of $38.1 billion and Productivity and Business Processes revenue of $37.3 billion. They expect More Personal Computing revenue to decline 10.5% year over year to $12 billion, reflecting ongoing gaming headwinds.
The analysts reiterated a ‘Buy’ rating and a $500 price target on Microsoft shares, implying upside from current levels of about $400.
Microsoft (MSFT) faces mounting concerns over Azure's lagging acceleration versus AWS and Google Cloud, despite continued 30%+ growth rates. MSFT's software business, while high-margin, risks losing its distribution advantage as Copilot adoption and AI capabilities trail leading frontier labs. Legacy segments like Windows and Xbox are dragging on MSFT's growth; divestiture could be a strategic solution but remains unaddressed.
Advanced Micro Devices, Inc. is now perceived as Nvidia's main AI competitor, but current valuations price in near-perfect execution. Market expectations assume sustained AI demand, rapid AI accelerator share gains, and continued server growth—all simultaneously, which is unlikely. Valuation model estimates AMD's intrinsic value at $220.36 per share, about 55% below the current market price.
Key Takeaways AMD is a leading fabless semiconductor firm.AMD is riding the AMD demand wave with numerous partnerships from big tech companies.The company boasts a 29-quarter streak of beating consensus estimates. AMD Company OverviewZacks Rank #3 (Hold) stock Advanced Micro Devices ((AMD - Free Report) ) is a leading fabless semiconductor company. The term “fabless” means that AMD designs the blueprints for its hardware and outsources the physical production to manufacturing factories like Taiwan Semiconductor ((TSM - Free Report) ). AMD has three major product segments, including:
· Central Processing Units (CPUs): AMD’s Ryzen chips power computers to run everyday tasks, operating systems, and applications in laptops and desktops.
· Graphics Processing Units (GPUs): Hardware optimized for handling complex mathematical visual data.
· Data Center Chips: High-performance hardware that powers massive cloud computing networks, enterprise servers, and artificial intelligence models.
Essentially, AMD designs the computational brains that power modern electronics.
AMD Benefits from the Data Center Boom Although semiconductor leader NVIDIA ((NVDA - Free Report) ) owns the lion’s share of the AI accelerator market, AMD is a critical secondary supplier. With NVIDIA’s GPUs often sold out, AMD’s GPU lineup allows it to capture spillover demand. Additionally, the AI and data center markets are experiencing blistering growth that is unlikely to slow any time soon. In other words, AMD benefits from a structural tailwind and a massive total addressable market (TAM) expansion.
Image Source: Carson Investment research
AMD Hyperscaler Deals Provide Revenue VisibilityAMD has landed several multi-year, large-scale deployment commitments from major hyperscalers like Meta Platforms ((META - Free Report) ) and OpenAI for its Helios infrastructure systems. These long-term deals provide AMD with long-term revenue visibility. Zacks Consensus Analyst Estimates suggest that AMD will grow its top-and-bottom-line financial results at a healthy mid double-digit clip through 2027.
Image Source: Zacks Investment Research
AMD & Microsoft Expand PartnershipMonday, AMD and Microsoft ((MSFT - Free Report) ) announced an expanded strategic partnership spanning AMD GPUs, CPUs, and software on MSFT Azure. According to the press release, “Microsoft will ramp AMD Helios at scale on Azure to power frontier model inference,” and the two companies will integrate AMD silicon with Azure to “scale networking performance across the fleet.”
AMD’s EPS Impressive Surprise HistoryAMD has proven itself to be an expectation breaker. The company has beaten Zacks Consensus Analyst EPS Estimates for a staggering 29 consecutive quarters.
Image Source: Zacks Investment Research
AMD Offers Pullback Buy ZoneAMD shares are retreating to the 10-week moving average for the first time since breaking out in early 2026. Typically, the first pullback to the 10-week moving average after a massive breakout offers investors an attractive reward-to-risk buy zone.
Image Source: TradingView
Bottom Line
Advanced Micro Devices stands out as a highly resilient powerhouse in the semiconductor landscape. The company’s numerous long-term deployment deals with tech giants mean that its double-digit revenue growth will continue well into the future.
Characteristics and Risks of Standardized Options: https://bit.ly/2v9tH6D. Alibaba (BABA) says its new Qwen 3.8 AI model is one of the most powerful in the world.
Steven Dickens doesn't see Alibaba's (BABA) new LLM or any other Chinese innovation in the space as a headwind for the U.S. While the models are cheaper than counterparts, he doesn't expect commercial businesses to face strong competitive pressures. Additionally, Steven sees the hyperscalers still prevailing as the ultimate winners of the AI race due to their role as "toll booths" in the trade.
Airplane miniature is placed on displayed AerCap logo in this illustration March 8, 2023. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
FARNBOROUGH, England, July 20 (Reuters) - Leasing giant AerCap (AER.N), opens new tab is set to place an order for 15 Boeing (BA.N), opens new tab 787 jets, two industry sources said on Monday.
Dublin-based AerCap, which is the world's largest owner of Boeing's newest long-haul plane in service, is expected to announce the order during the Farnborough Airshow, they said.
The Reuters Iran Briefing newsletter keeps you informed with the latest developments and analysis of the Iran war. Sign up here.
Boeing referred queries to AerCap, which did not immediately respond to a request for comment. Bloomberg reported on Sunday that AerCap could order as many as 15 of the jets.
Reporting by Tim Hepher
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Political memecoins have always attracted attention, but few have generated as much debate as Official Trump ($TRUMP). Once one of crypto’s biggest success stories, the token has become a symbol of how quickly sentiment can change in speculative markets.
With prices remaining far below previous highs and fresh reports highlighting investor losses, many traders are exploring projects built around broader ecosystems rather than political narratives. MemeToro ($MT) is one of the presales gaining traction by focusing on AI-powered tools and community infrastructure instead of celebrity branding.
Trump Memecoin Remains One of Crypto’s Most Controversial Tokens The Official Trump memecoin continues to dominate headlines for reasons beyond its market performance.
Recent reports estimate that nearly 988,905 wallets have lost money on the token, with combined investor losses reaching approximately $3.81 billion. At the same time, President Donald Trump’s financial disclosures showed around $635 million in royalties from the memecoin licensing agreement, while his broader cryptocurrency ventures reportedly generated more than $1.4 billion during his first full year back in office.
The contrast has fueled debate across the crypto industry.
Many investors point to the difference between issuer earnings and retail outcomes as a reminder of how unpredictable politically themed memecoins can become. The token itself has fallen more than 96% from its all-time high of roughly $75, trading around $1.58 during recent market updates.
Despite the decline, $TRUMP remains one of the most recognized political tokens in crypto.
Its price continues reacting heavily to political news, public appearances, and market sentiment rather than platform development or ecosystem growth.
That dependence on external events has encouraged some investors to look toward projects with utility beyond branding alone.
MemeToro Builds Around Communities Instead of Personalities Rather than depending on one public figure or viral trend, MemeToro ($MT) is designed as a platform where different communities can launch and grow their own projects.
Creators receive dedicated profile pages where they can introduce their ideas, publish updates, and interact directly with supporters. Every project also includes transparent dashboards showing token allocations, liquidity information, and wallet activity, giving users more information before participating.
The platform also encourages long-term community engagement through several integrated features.
Some of the ecosystem highlights include:
Creator pages with live updates Public meme galleries Community reward programs DAO governance through $MT AI-powered sentiment monitoring Transparent token dashboards The goal is to help projects build active communities rather than relying entirely on celebrity attention or short-term market excitement.
Your Step-by-Step Guide to the $MT Presale No technical background needed. Just head to the official site and click the active presale link to get started. Next, connect a wallet that’s compatible with BNB Chain. When it’s time to pay, you can choose BNB, ETH, stablecoins, or a card. Confirm the purchase and your tokens land in your wallet almost instantly.
Getting in early isn’t just about price. Early buyers get first crack at staking rewards, trading tools, and new features as MemeToro ($MT) rolls them out.
MemeToro’s public presale is currently progressing through Stage 4. The project has raised $80,178.47, reaching 73.28% of its current funding goal of $109,411.90.
The current entry price remains $0.00232 per $MT, while the official launch price has been fixed at $0.01875.
Investors Are Looking Beyond Political Narratives The Trump memecoin remains one of the most recognizable names in crypto, but its recent performance highlights how quickly sentiment can shift around politically driven assets. As more investors evaluate projects before buying, many are paying closer attention to platforms with broader ecosystems instead of tokens tied to individual personalities.
MemeToro ($MT) reflects that changing approach by focusing on creator communities, transparent project information, AI-powered market insights, and long-term platform development while continuing to build momentum through its Stage 4 public presale.
More Information on MemeToro ($MT) Presale Here:
Website: https://memetoro.com/
X: https://x.com/memetoro_mt
Telegram: https://t.me/memetoro_mt
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The crypto market overview for Monday shows cautious stability as Bitcoin price remains above $64,000. Ethereum price holds near $1,882, while XRP price struggles below the $1.10 resistance level.
Pi Network leads the market with a 15% jump. Pump.fun also extends its rebound. Traders are watching geopolitical tensions and the Federal Reserve meeting scheduled for July 28 and July 29 later this month.
Crypto Market Stabilizes as Bitcoin Holds Above $64k Level The wider crypto market is still pegged at around $2.2 trillion, which is indicative of minimal activity in the digital assets.
The Crypto Fear and Greed Index of CoinMarketCap is 34, indicating a cautious attitude even after recent recoveries. Bitcoin price traded around $64,927 on Monday after gaining 1.45% during the previous seven days.
Source: CMC data The leading cryptocurrency is testing a bullish breakout near the $64,200 support zone. A sustained hold above $64,200 could help buyers challenge the $65,000 resistance level as per the detailed Bitcoin price analysis.
Nevertheless, a decisive drop below that level might push the Bitcoin further down, and leave it vulnerable to $60,000.
The renewed military tensions between the United States and Iran further raised market uncertainty. Investors will pay attention to the Federal Reserve meeting on July 28 and July 29.
The rate decision of the central bank may affect the liquidity expectations, risk appetite, and prices of the cryptocurrencies in the various markets.
Ethereum Price Consolidates Near $1,882 While XRP Faces Pressure Ethereum price was trading at $1,882 on Monday following a 4% increase over the past week. The ETH continues moving sideways between support near $1,820 and resistance at $1,940.
The breakout of above $1,940 may reinforce momentum and motivate buyers to seek new levels. Conversely, a drop below $1,820 may expose Ethereum to further selling pressure during the week.
Source: Tradingview XRP price is also in the weak position, and its upside has been repeatedly limited below the resistance level of $1.10. Its technical structure is weakening with the token approaching major support at $1.00.
Any recovery above $1.10 would be required to boost sentiment and rekindle short-term momentum.
Pi Network Extends Rally Ahead of Protocol v25 Upgrade Pi Network price gained more than 15% on Monday, extending its rebound for a fourth consecutive session.
The rally followed a 207% increase in daily trading volume to $40.47 million. That steep growth implies a new speculative buzz and increased purchasing dynamics around the PI token.
Pi Network’s Protocol v25 is bringing several Improvements@PiCoreTeam schedules its Protocol v25 upgrade for July 22 to optimize network stability and enhance smart contract efficiency across its global ecosystem.
The rollout introduces privacy-preserving smart contract… pic.twitter.com/Ynm1y1tadU
— BSCN (@BSCNews) July 16, 2026
Investors are preparing for the Protocol v25 upgrade, due July 22. The update will replace older Protocol v19 standards with newer features designed to improve network performance.
Pump.fun Rebounds 20% as PUMP Climbs to Two-Month High Pump.fun traded near $0.0020 on Monday after gaining 20% during the previous session. The PUMP token has gained over 35% in the last one week, which favors the positive short-term perspective.
Its price soared to a two-month high when crypto trader Ansem announced the new position in the token. The rally started on Sunday when PUMP rose by about $0.0016 to $0.0019.
A viral meme coin as well as more attention was paid to the Solana launchpad and enhanced platform activity.
Trader 0xbf73 made a 10x long trade on $1.53 million worth of 764.14 million PUMP, which was funded by $115,000 worth of SOL purchased by Ansem (@blknoiz06).
After Ansem(@blknoiz06) bought $PUMP with 1,500 $SOL($115K), trader 0xbf73 opened a 10x long on 764.14M $PUMP($1.53M).
Nevertheless, additional returns might be pegged on the fact that Bitcoin is not going to drop and wider risk appetite is going to increase in the crypto markets.
"A clean breakout above $0.0020 could trigger the next bullish leg," one analyst assumed.
The cryptocurrency market has shown a minor resurgence today (July 20), yet the best-performing asset (from the top 100 club) isn’t Bitcoin (BTC) or Ethereum (ETH), but Pump.fun’s native token, PUMP.
Meanwhile, some believe this may not be just a temporary price spike but the beginning of a much more substantial rally.
What Comes Next? PUMP registered a 20% daily increase, reaching approximately $0.002, its highest level since mid-May. Its market capitalization soared to nearly $800 million, making it the 71st-biggest cryptocurrency.
PUMP Price, Source: CoinGecko One potential catalyst for the solid performance could be the increased interest from popular industry participants. Lookonchain revealed that the well-known crypto trader and influencer Ansem bought PUMP with 1,500 SOL (worth around $115,000), while another anonymous individual opened a $1.5 million long position with 10x leverage.
Crypto X is now rammed with analysts who believe PUMP is on the verge of a further jump. Crypto Patel claimed the token has confirmed a high-timeframe breakout, indicating a potential 200% upside.
X user 0xNeena opined that a decisive push above $0.002 could unleash the next wave upward, while Greeny went even further, suggesting this might mark the beginning of a bull run that may stretch into 2027.
Captain Faibik also chipped in, forecasting that PUMP could soon explode to around $0.0047, thus reaching its highest point since November last year.
You may also like: Nearly 70% of Pump.fun Tokens Die on Launch Day: CoinGecko South Korea Cracks Down on CatFi Rugpull: First-Ever Crypto Fraud Case Under New Investor Protection Law Solana-Based Meme Coin Launchpad Pump.fun Traders See Turnaround in 2026: CoinGecko Mind the Potential Risks In an environment dominated by sellers and a bear market that has shattered investor optimism, it’s worth remembering that PUMP’s resurgence could be short-lived. Over the past few months, numerous altcoins have posted revivals, only to head south by double digits within days, sometimes even hours.
PUMP’s Relative Strength Index (RSI) should also serve as a warning. Its ratio has risen above 70, meaning that the token has entered overbought territory and could be due for a correction. The technical analysis tool ranges from 0 to 100, and readings below 30 are considered buying opportunities.
Key Takeaways Netflix beat Q2 earnings estimates, but weaker revenues and lower 2026 guidance weighed on sentiment.NFLX maintained its operating margin target as costs are expected to ease in the second half of 2026.Netflix cites buybacks, cash, content and ads as strengths, but valuation and competition remain concerns. Netflix (NFLX - Free Report) delivered second-quarter 2026 results that beat the Zacks Consensus Estimate for earnings, yet the streaming giant's cautious commentary on engagement and margin pressure has left investors questioning whether the stock deserves fresh capital right now or a longer wait on the sidelines.
The stock fell more than 8% in after-hours trading on July 16 as the company missed second-quarter 2026 revenue expectations and issued lower guidance for 2026.
Shares of Netflix have plunged 28.1% in the year-to-date period compared with the broader Zacks Consumer Discretionary sector's decline of 10.2%, underscoring how sentiment has soured even as the underlying business keeps growing steadily and delivering healthy cash generation quarter over quarter, leaving the market clearly split between near-term skeptics and patient long-term believers watching closely.
NFLX’s YTD Price Performance
Image Source: Zacks Investment Research
Beat Overshadowed by Cautious ToneSecond-quarter revenues rose roughly 15.6% year over year, with operating margin landing at 33.4%, down from 34.1% a year earlier as technology, development and marketing costs climbed. Six-month revenues reached $24.81 billion, aided by a termination fee tied to the abandoned Warner Bros. Discovery pursuit, which lifted other income and boosted first-half net income to $8.68 billion.
Third-quarter revenue guidance of 12% reported growth trailed the pace investors had grown accustomed to, and view hours grew just 2% in the first half, a modest acceleration that still points to lingering engagement challenges amid intensifying competition for viewer attention across platforms.
Netflix narrowed its full-year 2026 revenue outlook to $51.0-$51.4 billion (from $50.7-$51.7 billion previously), suggesting 13-14% growth, while maintaining its operating margin target of 31.5% and held its content amortization outlook, noting costs are expected to decelerate into the back half of the year after peaking during the second quarter, a sequencing detail that investors will be watching closely for confirmation.
The Zacks Consensus Estimate for 2026 earnings is pegged at $3.60 per share. This indicates a 42.29% increase from the previous year.
Content Slate Remains a Bright SpotNetflix's programming pipeline offers a partial offset to the softer outlook. The back half of 2026 brings new Stranger Things spinoff episodes, the fourth season of Lupin, the final season of The Witcher and an expanded live-event calendar spanning NFL games, WWE and MLB programming. Looking to 2027, Netflix plans to stream the FIFA Women's World Cup and extend its advertising tier into 15 additional international markets, broadening its long-term advertiser base even as near-term contribution stays limited for now. The advertising business itself remains on track to roughly double 2026 revenues to about $3 billion, with U.S. upfront negotiations described as progressing toward completion in the coming weeks.
Continued price realization from the March subscription increases, still rolling through existing members' billing cycles, should support revenue durability into the second half of the year and cushion against any further softening in engagement trends.
Valuation and Competitive LandscapeFrom a valuation standpoint, Netflix appears overvalued, trading at a forward 12-month price-to-sales ratio of 5.31X, notably higher than the Zacks Broadcast Radio and Television industry's 3.74X, and it carries a Value Score of D, signaling shares are pricier than industry peers relative to underlying sales growth trends.
NFLX’s Valuation
Image Source: Zacks Investment Research
Disney (DIS - Free Report) continues investing roughly $24 billion in fiscal 2026 content while folding Hulu into Disney+, with a 2027 theatrical and streaming slate leaning on established franchises to defend engagement and pricing power across its broader entertainment portfolio. Amazon (AMZN - Free Report) is expanding Prime Video through live sports, a deepening originals library, and a planned unified cross-platform search feature heading into 2027, positioning Amazon as a growing distribution hub for advertisers and viewers alike. Apple (AAPL - Free Report) keeps building Apple TV+ around prestige originals and sports rights, with a second-half 2026 and 2027 slate of scripted dramas showing how Disney, Amazon and Apple are jointly raising the competitive bar Netflix must now clear.
Hold Steady Amid Mixed SignalsNetflix's raised free cash flow guidance, record quarterly buyback of $4.7 billion, and $9.13 billion cash position all suggest financial flexibility that few streaming peers can easily match today. Yet the combination of decelerating revenue growth guidance, margin pressure from elevated content spending, and a stretched valuation relative to the broader industry argues against chasing shares aggressively at current levels. Existing shareholders have reasonable grounds to hold given Netflix's durable content pipeline and advertising runway, while prospective buyers may be better served waiting patiently for a more attractive entry point as near-term growth and engagement trends play out more clearly over the next couple of reporting quarters ahead. NFLX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Elizabeth Stone is Netflix's chief product and technology officer. Kimberly White/Getty Images for TechCrunch Netflix expects employees across the company to develop an "aspiration for AI fluency" as the technology reshapes how work gets done, a top executive said.
Elizabeth Stone, Netflix's chief product and technology officer, said on an episode of "Lenny's Podcast" released Sunday that the streaming giant is encouraging all employees — from new hires to senior executives — to become more comfortable using AI.
"The way we've approached this so far is instead of trying to articulate at each level exactly how AI changes those expectations, to instead put an overlay across all of the talent at Netflix, people on the team, and those who are hiring, to talk about an aspiration for AI fluency," she said.
Stone told podcast host Lenny Rachitsky that expectations will vary depending on an employee's role and career stage.
"The most useful thing is not to make it level specific or role specific, but to encourage everyone towards the expectation on AI fluency," Stone said.
Stone said AI fluency, which she acknowledged is "a tough thing to define," isn't about using the technology for the sake of using it. Instead, she said it means understanding where the technology is useful, exercising "good judgment," and keeping an open mind to "explore and try new things."
"That's the non-negotiable for all roles, and that's true at the senior-most levels of Netflix, where we talk about we too need to have deep fluency in AI, even if we're not writing code as part of our day jobs," she said.
The emphasis on AI fluency has also changed Netflix's hiring practices, Stone said, explaining that the company discusses AI during interviews to understand how job seekers think about the tech and how they use AI tools in their day-to-day lives.
Despite growing concerns that AI could reduce demand for entry-level workers across the job sector, Stone said junior talent remains a "critical part" of Netflix's hiring strategy.
"We are still hiring junior people, and they're really important to our talent strategy," Stone said, pointing to the company's intern and new graduate programs.
She added that younger employees can be more open-minded, more comfortable with emerging AI technologies, and more attuned to how entertainment is changing.
"I can guarantee you that earlier career talent is going to be teaching older folks like me many new things, too," Stone told Rachitsky.
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Natalie Musumeci You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Natalie is a senior reporter on Business Insider's Business News team.She was previously on BI's Legal Affairs team where she covered major cases out of state and federal court, as well as bankruptcy. Her coverage often focused on stories at the intersection of law, business, politics and technology. Natalie has covered Donald Trump’s criminal and civil cases, the wave of lawsuits against the second Trump administration, the indictment and criminal trial of Sean “Diddy” Combs, the shooting death of UnitedHealthcare CEO Brian Thompson, and the legal battles facing Elon Musk and his companies. Natalie came to Business Insider in June 2021 as a breaking news reporter, focusing on the most interesting angles around the trending news of the day. Natalie largely drove BI’s coverage around the fatal “Rust” shooting involving Alec Baldwin and the disappearance and murder of Gabby Petito.Prior to joining BI, Natalie worked for the New York Post, the New York Daily News, and The Brooklyn Paper. She has an extensive background covering crime and courts. During her more than 12-year journalism career, she did a stint covering the police beat out of the headquarters for the New York Police Department. Natalie, a Brooklyn native, graduated from Brooklyn College in 2012 with a journalism degree. Popular articles
Walmart and Amazon face legal trouble for using a points system to track and fire employees over absences: lawyersCelebrities who partied with Diddy may want to contact their lawyersAn unchecked AI could usher in a new dark ageAt Diddy's A-list 'white parties,' naked women were a staple — but that didn't seem to raise eyebrows at the timeThe illegal maneuvers the rich use to get richerOwner of ship that crashed into Baltimore bridge will likely try to invoke 1851 law used to cap damages after Titanic disaster AI Netflix Work More Technology
Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) is expected to deliver second quarter results above Wall Street expectations when it reports earnings on July 29, according to Bank of America analysts, who believe that healthy advertising demand and AI-driven improvements should support revenue and earnings despite foreign exchange headwinds.
Bank of America revised its estimates and now expects Meta to report Q2 revenue of $60.6 billion and earnings per share of $7.50, above the consensus estimates of $60.2 billion and $7.18, respectively. The firm wrote that stronger advertising trends were partially offset by the recent depreciation of the US dollar.
The analysts wrote that their channel checks indicate healthy ad growth during the quarter and expect upside to earnings following Meta's workforce reductions in May. They also estimate that investors will focus on AI-related initiatives during the earnings call, including content retrieval and advertising improvements from AI model integration, opportunities for Muse Spark, and the potential for external compute sales.
Looking ahead, Bank of America expects Meta to guide Q3 revenue to between $60.5 billion and $63.5 billion, representing growth of roughly 18% to 24% year over year. The firm estimates Q3 revenue of $63.5 billion and earnings per share of $7.22, compared with consensus expectations of $63 billion and $7.03.
On spending, the analysts estimate Meta could lower the upper end of its expense guidance by $1 billion to $2 billion following recent layoffs. However, they also see the potential for the company to raise its capital expenditure outlook to between $135 billion and $150 billion from the current range of $125 billion to $145 billion, citing higher memory costs.
Bank of America also raised its longer-term forecasts, adding $5 billion in estimated 2027 revenue to reflect potential AI capacity benefits following reports of a possible compute agreement with Anthropic. The firm now estimates 2027 revenue of $316 billion and earnings per share of $35.00, while also increasing its 2028 revenue forecast.
The bank reiterated its ‘Buy’ rating and maintained its $835 price objective, above current levels of about $650.
It wrote that Meta's valuation does not fully reflect the potential benefits of expanding AI capacity and identified growing visibility into new revenue streams, advertising gains from large language model integration, continued AI model improvements and chip advances as potential drivers of future sentiment.
It also highlighted risks including the possibility of higher 2027 capital spending, capital raises and an upcoming social media addiction trial expected to begin in August.
The 2026 FIFA World Cup has given a $20 billion boost to the US economy, according to Bank of America, sparking massive local booms in host cities and helping propel the strongest surge in consumer spending in more than four years.
BofA CEO Brian Moynihan said half of the tournament’s $40 billion in fresh economic activity has been funneled to the US, and that the footprint extends far beyond the turnstiles. The bank’s 70 million consumer customers, who spend more than $400 billion a month, are shelling out 5% to 6% more than a year ago.
“Even when we look into host cities like a Kansas City, we can see the growth rate in spending faster than other cities,” Moynihan said. “So it’s having this on-the-ground economic impact, and that spending is going into what we call bricks-and-mortar — going to bars and restaurants and things like that — not necessarily only the people in the stadium.”
BofA CEO Brian Moynihan spelled out in an interview with CBS how the World Cup had helped boost the US economy CBS Americans are spending at their fastest clip since early 2022. Total credit and debit card spending jumped 6.3% year over year in June, or 5.6% after stripping out gasoline, economists at the financial giant found.
Government data tells the same story. US retail and food services sales climbed 6.7% from a year earlier in June, the fifth straight monthly increase, with second-quarter sales up 6.4% from 2025, the Census Bureau reported.. Spending at bars and restaurants — the categories most exposed to World Cup crowds — ran 3.8% ahead of last year.
Bank of America’s data shows airline and leisure spending posted double-digit growth in June, while clothing rose 7% and general merchandise 5%. The BofA report does not include spending by foreign visitors, meaning the overall economic impact is undoubtedly far higher.
According to the New York/New Jersey Host Committee, fans spent $1.2 billion in June in alone, generating a total economic impact of $2.1 billion. In that same time, the host committee says $228 million in tax revenue was generated as well.
Spanish fans celebrated Sunday’s victory over Argentina in Times Square, but Bank of America’s report excludes spending by foreign visitors. REUTERS The tournament’s kick is visible in the geography of the receipts. Brick-and-mortar restaurant spending in host cities jumped two percentage points during the opening weeks, while non-host cities were essentially flat, the bank found — with lower-income consumers driving much of the boom.
Hotels cashed in through price, not just volume. Kansas City saw a roughly 90% jump in renevue per room, while San Francisco saw that figure surge by 55% according to data from CoStar Group.
“In Kansas City, that’s going to dominate your markets quickly,” noted Victor Matheson, a sports economics professor at the College of the Holy Cross. “You’re going to have likely bigger increases in hotel prices because you get capacity constrained a little quicker.”
Matheson said the financial boon for each city was also highly dependent on the luck of the tournament draw.
The Spanish and Argentine flags are displayed on the pitch ahead of the 2026 World Cup football tournament final match between Spain and Argentina at the New York/New Jersey Stadium in East Rutherford on July 19, 2026. AFP via Getty Images While Boston was “overrun with Scots drinking us out of our beer,” he pointed out that a group stage matchup like Austria versus Algeria in Kansas City likely relied much more heavily on local attendance, as those nations traditionally bring smaller traveling fan bases to North America.
The wallet-opening comes despite a broader hiring slowdown. Employers added just 57,000 jobs in June, well short of forecasts, and leisure and hospitality shed 61,000 positions on weak seasonal hiring, the Bureau of Labor Statistics reported.
That undercut predictions, including a Goldman Sachs estimate of a 40,000-job World Cup boost, that the tournament would supercharge payrolls.
Workers at the bottom who switched jobs pocketed raises of roughly 12%, according to Bank of America deposit data. Their card spending climbed 4.8% from a year earlier.
President Trump appeared alongside FIFA boss Gianni Infantino to present the winners’ medal to Spain after they defeated Argentina 1-0. AFP via Getty Images Officials are now scrambling to make the soccer party permanent. Boston, after absorbing its influx of international visitors without major hiccups, is already eyeing a bid for the 2031 Women’s World Cup, while President Trump has floated the idea of the US bidding for the tournament once more in the coming years.
The 2026 FIFA World Cup ran from June 11 to Sunday’s final that saw Spain defeat Argentina 1-0. The competition was jointly hosted by 16 cities across three countries: the United States, Mexico, and Canada.
Embedded finance and the impact of FinTech pacts are showing up on bank balance sheets.
There are different paths toward getting here. The latest earnings results from companies including Fifth Third, The Bancorp and Pathward illustrate a range of models for turning relationships with FinTechs and platforms into deposits and fee income.
Fifth Third, which shared second-quarter earnings results Friday (July 17), indicated the continued scaling of an embedded finance platform inside a diversified bank. The Bancorp has built a banking model in which FinTech partnerships supply most of its deposits. Pathward combines partner-generated deposits on its own balance sheet with a custodial model that generates servicing fees on customer deposits held at other banks.
The common thread is that the economics of embedded finance increasingly extend beyond selling access to banking infrastructure.
That comes as demand for infrastructure continues to grow. The PYMNTS Intelligence report “The Embedded Finance Scale Factor: How Firm Size Shapes Strategy, Technology and Partnership Decisions” found that 79% of middle-market companies and 80% of companies with less than $250 million in annual revenue plan to upgrade their embedded-finance capabilities within 12 months. The figure fell to 63% among companies with more than $1 billion in revenue, many of which already have more developed capabilities.
For banks, the expansion creates opportunities to capture the money and transactions flowing through the financial products that businesses embed.
Fifth Third trained a spotlight on building its own embedded finance distribution channel. The bank said in Q2 that Newline deposits, tied to its embedded finance platform, increased $2.1 billion in the second quarter and Newline fee revenue rose 35% year over year. Newline connects FinTechs and enterprises to Fifth Third’s banking and payments infrastructure, giving the bank a way to generate deposits and fees through customers acquired outside its conventional branch network.
The Bancorp’s model is built heavily around the FinTech ecosystem itself. In its first-quarter earnings results, and in a nod to the FinTech Solutions segment, which includes embedded finance but is not limited to it, the company said FinTech partnerships generated 93% of its total deposits. Average deposits reached $8.32 billion, up $721.1 million, or 9%, sequentially, with the increase driven primarily by continued growth in deposits sourced from FinTech relationships.
Payments are another part of the economics. The Bancorp reported $52.51 billion in gross dollar volume on prepaid, debit and credit cards, an 18% year-over-year increase, while prepaid, debit card, ACH and other payment fees rose 5% to $32.5 million.
Embedded Finance Delivery Models Diverge With Scale Pathward adds a third variation.
The company operates a partner-banking model in which deposits associated with Partner Solutions relationships can sit on Pathward’s balance sheet, while it also acts as custodian for customer deposits placed at other banks.
As of the end of its most recent quarter, in March, Pathward managed $1.07 billion of customer deposits at other banks in its capacity as custodian. Those balances generated $7.8 million in servicing fee income during its fiscal second quarter, up from $6.5 million a year earlier and $3.4 million in the preceding quarter. Pathward attributed the increase to higher average deposit balances held at partner banks.
The different approaches put the PYMNTS Intelligence findings into a broader context.
As companies grow, many move toward outside providers to handle embedded finance. Most companies with more than $1 billion in annual revenue rely on a single third party, compared with 26% of companies generating less than $250 million. Middle-market companies are split more evenly among building internally, working with one provider and using multiple providers.
The report also found that 32% of middle-market companies said an embedded finance partner must hold a bank charter, the highest rate among the revenue groups studied. A chartered provider can hold deposits, issue credit and move money directly, putting the regulated bank closer to the underlying economics of the embedded relationship.
As more companies upgrade embedded finance capabilities and turn to outside providers, banks have several ways to capture the economics underneath those products.
Walt Disney Co (NYSE:DIS, XETRA:WDP) is scheduled to report fiscal third quarter results on August 5, with UBS analysts expecting accelerating earnings growth as first-half headwinds ease and forecasting the company will maintain its fiscal 2026 guidance.
UBS expects Disney to report fiscal third-quarter revenue of $25.4 billion and segment operating income of $5.16 billion, compared with Wall Street expectations of $5.24 billion and company guidance of about $5.3 billion.
The firm forecasts earnings per share of $1.91, above the consensus estimate of $1.85 and up 18% from a year earlier.
The analysts wrote that growth should be supported by high single-digit expansion in the Experiences segment and double-digit growth in the company's streaming business, while Sports operating income is expected to decline by the mid-teens due to higher sports rights costs. They also expect box office performance to remain soft overall.
For fiscal 2026, UBS continues to forecast earnings per share of $6.90, representing 16% year-over-year growth and broadly in line with Disney's guidance. The estimate includes a roughly 4% benefit from an extra week in the fiscal fourth quarter and is expected to be driven by continued strength in Experiences, improving Sports profitability and streaming margins above 10%.
In Experiences, UBS expects revenue to rise 8.7% year over year and operating income to increase 9.6% as the business laps upfront cruise costs and pre-opening expenses related to World of Frozen. The analysts expect growth to accelerate further in the fourth quarter before receiving an additional boost from the extra fiscal week.
UBS believes domestic attendance improved during the quarter, with attendance roughly flat from a year earlier after declining 1% in the prior quarter, as comparisons related to Epic Universe's opening and international visitation became less challenging. Per-capita guest spending is expected to remain strong, increasing about 4% year over year.
Within Entertainment, UBS forecasts revenue growth of 8.7% and operating income growth of 48% to approximately $1.5 billion, driven by streaming gains and the consolidation of Fubo. The analysts expect streaming subscription revenue to increase 11% year over year, while streaming operating margins improve by 350 basis points from a year earlier to 10.1%, despite sequential pressure from higher international content spending.
The analysts also expect mixed theatrical performance during the quarter, citing stronger box office results from The Devil Wears Prada 2 and Toy Story 5, offset by weaker performances from Star Wars: The Mandalorian & Grogu and the live-action Moana.
In Sports, UBS forecasts revenue growth of 4.7%, including an approximately 3% contribution from NFL Network, while operating income is expected to decline 14% to $891 million as double-digit growth in sports rights expenses, including NBA and WWE contracts, weighs on profitability.
The analysts expect advertising revenue to increase more than 10% on stronger NBA ratings and noted that Disney recorded its first quarter of year-over-year television viewership growth since the first quarter of 2024, helped by NBA Finals audiences. UBS expects subscription and affiliate revenue growth of around 5%, with streaming gains partly offset by the NFL Network no longer being carried on Comcast's Xfinity platform.
UBS also noted that management expects mid-single-digit operating income growth for the Sports segment for the full fiscal year, with the firm anticipating a stronger fourth quarter supported by easier comparisons related to sports rights costs and last year's ESPN direct-to-consumer launch expenses.
The Wall Street analyst consensus target price for Delta Air Lines (DAL +0.44%) stock is $108, according to Visible Alpha. It's a target implying 25% upside from the current price of $86. I think this target, and more, is achievable, and the stock is attractive at these levels. Here's why.
Delta Air Lines and cyclicality Starting with valuations, management expects to generate $3 billion to $4 billion in free cash flow (FCF) in 2026. Taking the midpoint of that and applying a back-of-the-envelope valuation for a mature industrial stock at about a 20x multiple yields a market cap of $70 billion, equivalent to a share price of about $106.
Image source: Getty Images.
Of course, the key question here is whether Delta is a mature, stable industrial company poised to steadily grow cash flow, or a cyclical stock whose earnings/cash flow are likely to be highly volatile.
Why Delta's earnings are becoming less cyclical The answer is that airline stocks are never really immune to cyclical pressures. The economy turns down, and people stop flying. However, the reality is that airlines like Delta and United Airlines have made concerted efforts to diversify their income streams by growing premium cabin and ancillary revenues, loyalty programs, and highly successful co-branded credit card revenue.
These income streams and ongoing strength in end demand helped Delta partially absorb a whopping $1.9 billion year-over-year increase in adjusted fuel costs in the second quarter, so that adjusted operating income declined by only $501 million year over year. Nevertheless, Delta still generated $1.56 billion in adjusted operating income.
It's an excellent result in a very difficult cost environment, and given that oil costs have moderated from the $100-a-barrel levels they were at for much of Q2, it's reasonable to expect more favorable conditions going forward.
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Delta's valuation is attractive Moreover, Delta has already baked a $4 billion increase in fuel costs for 2026 into its guidance, and it still expects $3 billion to $4 billion in free cash flow.
This is proof positive that Delta is passing a key stress test of how it might perform in adverse conditions, which means it should be priced more like a mature industrial than a highly cyclical stock. If Delta achieves its earnings-per-share guidance of $6.50 to $7.50, that puts it at a forward price-to-earnings ratio of 11.5 to 13.2 times earnings. Whether you look at cash flow or earnings, these are attractive multiples for a stock that's much less cyclical than many investors think, and $100 looks within reach on that basis.
SummaryMcDonald's has underperformed the market, declining 10% versus a 14% benchmark rally since my last coverage.Recent catalysts and compressed earnings multiples now make MCD attractive, prompting my rating upgrade from Hold to Buy.Top- and bottom-line growth has accelerated, with recent quarters suggesting a potential turnaround in business performance.Consistency in growth supports the case for multiple expansion, and I see the outlook for MCD as improved. Getty Images
Honestly, I've been bearish on McDonald's (MCD) for almost a year now. The last time I wrote a piece on it, I argued that it may appear to be an interesting opportunity, but I still thought that it was
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in MCD over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
, /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today announced the appointment of Tara Bunch, former Senior Vice President and Global Head of Operations at Airbnb, to its Board of Directors.
Bunch brings more than three decades of experience scaling global technology organizations, leading complex operations, strengthening customer experience, and advancing digital transformation across highly recognized consumer brands.
"Tara is a seasoned global executive with deep global experience in scaling technology-enabled service models, and delivering exceptional customer experiences," said Jason Liberty, Chairman and CEO, Royal Caribbean Group. "Her perspective will be highly valuable as we continue to grow our vacation ecosystem and deliver the best vacations responsibly for guests around the world."
Bunch most recently served as Senior Vice President and Global Head of Operations at Airbnb, where she oversaw Customer Service, Trust and Safety, Privacy, Payments, Insurance and Quality for hosts and guests in more than 220 countries and regions.
Prior to Airbnb, Bunch held senior leadership roles at Apple and Hewlett-Packard Company, where she led multiple areas, including global customer service, technical support, repair operations, product development, and technology-enabled services at scale. Earlier, during more than 25 years at Hewlett-Packard, she helped drive large-scale improvements in customer support delivery, customer satisfaction, and business performance.
Bunch also brings broad governance and risk oversight experience. She serves on the board of The Vanguard Group, Inc., one of the world's largest investment management companies, where she is a member of the Audit Committee.
Bunch holds an MBA from Santa Clara University and a Bachelor of Science in Mechanical Engineering from the University of California, Berkeley.
About Royal Caribbean Group
Royal Caribbean Group is a leading global vacation company spanning cruise, one-of-a-kind destinations, and land-based vacation experiences. The company operates 71 ships sailing to more than 1,000 destinations across all seven continents through its three wholly owned brands - Royal Caribbean, Celebrity Cruises, and Silversea - and a 50% joint venture interest in TUI Cruises, which operates the Mein Schiff and Hapag-Lloyd brands.
The Group is expanding its portfolio of private destinations through its Perfect Day and Royal Beach Club collections, and the company will enter river cruising in 2027 with Celebrity River Cruises. Powered by innovative brands, advanced technology, and an industry-leading loyalty program, the company has built a connected vacation ecosystem, turning the vacation of a lifetime into a lifetime of vacations.
Named to the Fortune World's Most Admired Companies 2026 list and to Forbes' 2026 Best American Companies lists, Royal Caribbean Group is guided by its mission to deliver the best vacations responsibly. For more information, visit royalcaribbeangroup.com.
Coca-Cola may be the stronger business today, but PepsiCo offers a more attractive opportunity. Pepsi's higher yield and activist-driven changes give it the edge as a new buy today.
Astera Labs: Steady Upward Revenue TrendAstera Labs (ALAB +1.77%) primarily generates revenue by developing and marketing connectivity products for cloud computing infrastructure.
It recently expanded its operations in Taiwan, and for the quarter ended March 31, 2026, it generated 26% net income margin.
Intel: Managing Fluctuating RevenueIntel (INTC +2.20%) earns its revenue by designing and manufacturing computing processors, graphics units, and semiconductor components.
While implementing a workforce reduction impacting manufacturing roles in July, it reported 39% gross margin for the quarter ended March 28, 2026.
Why Revenue Matters for Retail InvestorsRevenue shows investors the total amount of money a business brings in from its core operations before any expenses are deducted. Tracking this figure helps investors understand the total scale and top-line growth trajectory of a business.
Quarterly Revenue for Astera Labs and IntelQuarter (Period End)Astera Labs RevenueIntel RevenueQ2 2024$76.8 million (period ended June 2024)$12.8 billion (period ended June 2024)Q3 2024$113.1 million (period ended Sept. 2024)$13.3 billion (period ended Sept. 2024)Q4 2024$141.1 million (period ended Dec. 2024)$14.3 billion (period ended Dec. 2024)Q1 2025$159.4 million (period ended March 2025)$12.7 billion (period ended March 2025)Q2 2025$191.9 million (period ended June 2025)$12.9 billion (period ended June 2025)Q3 2025$230.6 million (period ended Sept. 2025)$13.7 billion (period ended Sept. 2025)Q4 2025$270.6 million (period ended Dec. 2025)$13.7 billion (period ended Dec. 2025)Q1 2026$308.4 million (period ended March 2026)$13.6 billion (period ended March 2026)Data source: Company filings. Data as of July 17, 2026.
Foolish TakeWhile Intel’s revenue towers over Astera Labs, the trend for the latter shows accelerating quarter-over-quarter sales growth, an impressive feat. Meanwhile, Intel has struggled to achieve year-over-year increases.
This disparity demonstrates the strong demand Astera Labs is seeing for its connectivity solutions, which deliver superior data transfer speeds for artificial intelligence systems. As the AI industry continues to expand over the coming years, Astera Labs’ rising revenue trend should continue. In fact, the company expects its second-quarter sales to again come in higher than the previous quarter, forecasting a range between $355 million to $365 million.
Intel is undergoing a transition period under new CEO Lip-Bu Tan, who took over the top spot in 2025 after the company suffered a series of struggles under previous leadership. The veteran semiconductor giant was at risk of missing out on the AI market until Tan made changes that appear to be putting Intel back on track.
This is demonstrated by the 7% year-over-year increase in revenue for its fiscal first quarter ended March 28. For fiscal Q2, Intel forecasted revenue between $13.8 billion and $14.8 billion, which not only represents a year-over-year jump but also quarterly sequential growth. At last, the company may be headed towards a consistent sales upswing thanks to AI.
Key Takeaways Intel’s latest quarterly results are set to be released Thursday afternoon, with options traders anticipating its stock could swing up to 12% in either direction by the end of the week.Analysts expect Intel to report growing revenue and profits, as the chipmaker’s sales have been boosted by AI demand in recent quarters. Get personalized, AI-powered answers built on 27+ years of trusted expertise.
Intel is slated to report earnings after the closing bell Thursday, with traders anticipating a sizable move from the chipmaker’s stock following the results.1
Based on recent options pricing, traders expect Intel (INTC) shares could swing up to 12% in either direction by the end of the week. A move of that size from Monday’s close could see the shares rebound close to $109, where they were earlier this month, or drag them below $86.
Intel shares have soared more than 160% since the start of the year amid speculation about new deals after a flurry of high-profile agreements and better-than-expected results, though they’ve slipped over 30% from last month’s highs after a broader pullback in the AI trade in recent weeks.
Why This Matters to Investors Intel stock has been volatile lately, along with other semiconductor stocks, amid some worries about the sustainability of the tech industry’s spending on AI.
UBS analysts recently lifted their price target for Intel to $121 from $83, telling clients they see strong demand for Intel’s data center hardware potentially supporting higher prices. The analysts said they expect investors to be watching for updates from Intel on its manufacturing capabilities, as well as potential new customers for Intel’s foundry business.2
Intel is projected to report second-quarter revenue of $14.44 billion, up about 12% year-over-year, according to estimates compiled by Visible Alpha. Adjusted earnings per share are seen coming in at 22 cents, up from an adjusted loss of 10 cents per share a year ago, when newly appointed CEO Lip Bu-Tan was in the midst of launching a turnaround plan for the chipmaker.
Amid lingering uncertainty around Intel’s turnaround, a number of Wall Street analysts have hesitated to recommend buying the stock. Of the eight analysts tracked by Visible Alpha, four have called it a “buy,” while four have maintained neutral ratings. Their mean price target of $128 would suggest upside of more than 30% from Monday’s close, bringing the stock back near last month’s record.
The bitcoin treasury company lifted its cash reserve to a $3.225 billion as its 843,775 BTC stack sits about $9 billion underwater.
Strategy Inc (NASDAQ: MSTR) sold 2,732,318 shares of its Class A common stock between July 13 and July 19, generating net proceeds of $263.5 million under its at-the-market offering program, according to an 8-K filed with the Securities and Exchange Commission on July 20.
The company made no bitcoin (BTC) purchases during the period, the second consecutive week without an acquisition. Its holdings remain at 843,775 BTC, bought for an aggregate $63.69 billion at an average price of $75,476 per coin.
No Preferred Sales, No BuybacksThe filing showed no sales under any of Strategy's four preferred-stock ATM programs — STRF, STRC, STRK and STRD — during the week, and no repurchases under its share buyback programs. The common-stock sale was the sole capital-markets activity.
Strategy said $23.53 billion remains available under its MSTR common-stock offering, which reflects combined capacity including a $21 billion increase announced in March. Its US dollar reserve, held to cover preferred dividends and debt interest, stood at $3.225 billion as of July 19.
Holdings Sit Below Cost BasisStrategy's average purchase price of $75,476 per bitcoin is above the token's recent trading level. Bitcoin was changing hands near $64,200, according to CoinGecko, which puts the position's market value around $54 billion — below the roughly $63.7 billion the company has paid. MSTR shares edged about 0.5% higher in pre-market trading Monday.
The second straight week without a bitcoin purchase, funded entirely by equity sales rather than preferred issuance, suggests Strategy is prioritizing liquidity over accumulation at current price levels.
Bitwise Chief Investment Officer Matt Hougan believes Bitcoin’s (CRYPTO: BTC) next major wave of demand will come from the "final boss of investing" which is the institutional capital.
Speaking in a Milk Road interview on July 19 alongside Bitwise research head Ryan Rasmussen, Hougan argued that Bitcoin has repeatedly transitioned from one dominant buyer group to another and is now approaching its largest potential source of capital yet.
Concerns have emerged over whether Bitcoin could face a demand gap as Strategy Inc. (NASDAQ:MSTR), slows or changes its purchasing activity.
Hougan said Bitcoin’s history is defined by its largest buyer eventually handing the baton to a new group.
Before Strategy, demand was led by the Grayscale Bitcoin Trust (NYSE:GBTC) Before Grayscale, U.S. retail investors followed Asian retail buyers and Bitcoin’s earliest cypherpunk adopters.
This time, he believes the identity of the next buyer is already clear.
"The end boss of investing is institutional capital," he said, pointing to financial advisers, pension funds, endowments and sovereign wealth funds.
"I think it’s going to be a great bull market for Bitcoin," he said.
Vanguard Signals Institutional ShiftRasmussen highlighted reports that Vanguard, which manages trillions of dollars, is seeking a senior digital-assets executive to develop its crypto strategy. This marks a major move that crypto is transitioning from offshore and retail-dominated markets toward mainstream institutional infrastructure.
Once a major institution embraces digital assets, Hougan said, that decision tends to become a "one-way door."
Five years ago, allocating to crypto represented a professional risk. Today, Hougan said appearing openly hostile to digital assets may make executives look as though they have their "head in the sand."
DeFi’s Market Is Bigger Than CryptoHougan said institutional adoption will not stop with Bitcoin.
Investors have traditionally viewed decentralized finance as serving only the crypto market, which he estimated at roughly $2 trillion. However, he argued that DeFi’s true addressable market is the entire global financial system, potentially worth hundreds of trillions of dollars.
As traditional assets move on-chain, decentralized protocols could compete across lending, trading, settlement and asset management.
Hougan believes Bitcoin will lead institutions into crypto, while tokenization and DeFi broaden the industry’s opportunity across global finance.
Image: Shutterstock
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Nearly $2.3 billion in stablecoins have exited Binance and Bybit over 30 days.
Bitcoin (BTC) continues to trade in a consolidation phase, a little above the $60,000 level. The market is approaching 165 days of testing that crucial price zone despite a rally above $80,000 in May that ultimately failed to sustain momentum, according to analyst Darkfost.
The analyst pointed to a lack of fresh liquidity entering the crypto market as one of the main reasons behind Bitcoin’s inability to establish a stronger uptrend.
Stablecoin Drain Fresh demand has struggled to materialize for both Bitcoin and the broader crypto market, the analysis said. Exchange stablecoin reserves have reflected that trend since the beginning of the year, which essentially shows a near-continuous decline as outflows consistently outpaced inflows.
Over the past 30 days, Binance recorded approximately $1.55 billion in stablecoin outflows – a significant reduction in reserves over a relatively short period. Bybit also saw a further $786 million leave its stablecoin reserves during the same timeframe. In total, the two exchanges recorded nearly $2.3 billion in stablecoin outflows over the past month.
Darkfost explained that the falling reserves indicate that incoming liquidity and investor demand are continuing to contract. The analyst added that market participants appear to be withdrawing stablecoins from exchanges rather than deploying them into crypto assets, while some may be exiting the market entirely.
According to the analysis, such a “pessimistic” market positioning continues to limit the liquidity available to Bitcoin, which then ends up preventing the asset from making a meaningful breakout above its long-running consolidation range around the $60,000 level.
Accumulation Opportunity Some market analysts, such as Doctor Profit, believe that the ongoing market conditions present a gradual accumulation opportunity. The analyst recently said that investors waiting for Bitcoin’s traditional four-year cycle bottom could end up missing the market’s next move.
You may also like: Analyst Says Waiting for Bitcoin’s Four-Year Cycle Bottom Could Be a Costly Mistake Saylor’s Strategy Strengthens Liquidity Position but Long-Term Bitcoin Plan Still Faces Scrutiny What Happens to Bitcoin if the Fed Raises Rates in July? Meanwhile, market trader Daan Crypto Trades said the crypto asset is on track to close another weekly candle above its 200-week moving average (200MA), a level often watched as an important long-term support indicator. However, the trader said a stronger move higher is still needed to retrace the previous decline and reclaim the 200-week exponential moving average (200EMA). Until that happens, Bitcoin is expected to remain stuck in its “choppy” trading range around the current level.
Russia is set to finalize its crypto regulation bill, “On Digital Currency and Digital Rights,” which will create a legal framework for crypto and cross-border settlements. The legislation, expected to be enacted on September 1, 2026, legalizes crypto through licensed intermediaries under the oversight of the Central Bank of Russia. It also bans domestic crypto payments for goods and services, while allowing crypto use for international trade settlements. This development comes as the United States still lacks clear regulation guidance, potentially positioning Russia as a significant player in the international crypto market.
The introduction of this regulatory framework appears to have implications for Bitcoin’s future price predictions. Current market data suggest a low probability of Bitcoin reaching significant price thresholds by the end of 2026, with only a 2% YES probability for reaching $200,000. However, the move by Russia to facilitate international crypto transactions might influence future market confidence and pricing scenarios.
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Market participants seem attentive to geopolitical and regulatory shifts, as these factors could shape the landscape for cryptocurrency globally. The Russian bill could serve as a model for other countries, potentially impacting international adoption and regulatory approaches.
Key Takeaways Russia’s upcoming crypto regulation bill suggests a shift towards establishing a legal framework supportive of international crypto transactions. Market pricing currently reflects a low probability of Bitcoin reaching $200,000 by the end of 2026, with a 2% YES probability. The finalization of the Russian bill may indicate potential adjustments in global crypto market dynamics and regulatory standards. What to Watch As Russia finalizes its bill, market observers will likely monitor the impact on global crypto markets and Bitcoin pricing. Key indicators include how other nations might respond with their regulatory frameworks and whether this influences institutional adoption. Additionally, any developments in U.S. regulatory policies or significant announcements from entities like the Federal Reserve could further shape market expectations for Bitcoin and other cryptocurrencies.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 2.2% — — View market → December 31 2% — — View market → December 31 2.6% — — View market → December 31 3.5% — — View market → December 31 5% — — View market → January 1 2027 8% — — View market → January 1 2027 21.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 2.2% — — View market → January 1 2027 2.1% — — View market → January 1 2027 2.6% — — View market → January 1 2027 4% — — View market → January 1 2027 6.5% — — View market → January 1 2027 45.5% — — View market → January 1 2027 10.5% — — View market → January 1 2027 1.4% — — View market → January 1 2027 2.6% — — View market → January 1 2027 31.5% — — View market → January 1 2027 16.5% — — View market → January 1 2027 9.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.4% — — View market → January 1 2027 1% — — View market → January 1 2027 11.5% — — View market → January 1 2027 22.5% — — View market → January 1 2027 33.5% — — View market → January 1 2027 52.5% — — View market → January 1 2027 76% — — View market →
Bitcoin custody provider Onramp released a research report in July 2026 advocating for direct spot Bitcoin ownership over holding indirect, paper-based claims such as fund shares or exchange balances. The report, titled “Back to Basics,” comes as Bitcoin trades at approximately half its all-time high from late 2025, while global equities and gold approach record levels.
Onramp’s view on Bitcoin fundamentalsThe report opens by comparing Bitcoin’s price performance to traditional asset classes. While stocks and gold have continued upward, Bitcoin’s recent decline is interpreted by Onramp as an opportunity for accumulation, rather than a warning sign.
Onramp emphasizes Bitcoin’s fixed supply, highlighting its cap of 21 million coins as a core element that protects its monetary integrity. The firm contends that traditional fiat currencies are designed to lose purchasing power over time, with governments and financial institutions benefiting from newly issued currency at the expense of ordinary holders.
The research covers key aspects of Bitcoin’s structure, including its predetermined issuance schedule and the halving event, which periodically reduces the rate at which new coins enter circulation. According to Onramp, the decentralized nature of the network gives protocol control to users running full nodes, rather than to miners or centralized entities.
Onramp also defends proof of work, the consensus mechanism securing the Bitcoin network, describing it as a legitimate and efficient use of energy. The report points to mining operations utilizing otherwise wasted resources such as flared gas or surplus renewable power. For investors, Onramp positions Bitcoin as a modern successor to gold—scarce and durable, but more easily transferable and independently auditable by any user.
Volatility is described as a routine characteristic of an asset in the process of monetization. The report notes that Bitcoin has experienced several price declines of 50% or more, with each major drawdown historically followed by new all-time highs.
Onramp advises investors to use a disciplined, mechanical buying strategy such as dollar cost averaging, rather than attempting to time the market. This approach, the firm states, has gained popularity among retail and institutional participants, especially during recent market corrections.
Spot versus ‘paper’ BitcoinA central argument in the report focuses on the distinction between direct Bitcoin ownership and ‘paper’ representations. Onramp points out that many investors hold assets that track Bitcoin’s price—such as exchange-traded funds (ETFs), exchange balances, or structured products—rather than owning Bitcoin itself.
The report concedes that these vehicles often offer accurate price exposure and professional management. Nevertheless, Onramp warns that each additional layer adds potential risks, including reliance on custodians or administrators who may fail independently of Bitcoin’s protocol.
By contrast, holding Bitcoin directly—meaning in a private wallet where the investor controls the cryptographic keys—removes counterparty risk and enhances individual sovereignty. Onramp suggests options such as self-custody or multi-institutional custody solutions, which split private keys among independent parties.
The company, headquartered in the United States, provides custody services for Bitcoin, allowing clients to hold digital assets securely or leverage their multi-party custody model.
Mini dictionary: Multi-institutional custody refers to a security model where digital assets are held using multiple independent custodians. Keys are split so that no single entity can move or access the funds alone, reducing risk of loss or theft.
Onramp contends that “as more layers are added between the owner and their Bitcoin, so too are additional points of failure,” emphasizing that only direct spot ownership can fully eliminate counterparty risk.
Ownership TypeDirect controlCounterparty riskTransfer limitationsSpot Bitcoin (self custody)YesNoNoneExchange-held BitcoinNoYesPossible freezes, withdrawal limitsFund share/ETFNoYesCannot redeem for actual BitcoinMarket conditions and accumulation strategyOnramp highlights that the current price drawdown is less severe and shorter in duration compared to historical downturns seen in the Bitcoin market, with the present cycle approximately seven months past the latest peak and around 50% below that high.
The report references previous cycles, noting that every significant decline has eventually led to new highs, and describes the ongoing price weakness as an attractive entry point for accumulation. Onramp reiterates that its guidance is not to forecast specific prices but to encourage scheduled purchases and holding assets in secure, user-controlled custody.
For Onramp, expanding adoption and a fixed supply underpin Bitcoin’s resilience, with lower pricing giving buyers a potential advantage in the market.
Onramp has raised $12.5 million to support the development of its custody solutions, aiming to integrate cash, Bitcoin, and gold into unified client accounts for diversified asset management.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Binance founder Changpeng Zhao has drawn a line between Bitcoin’s 21 million supply cap and an AI investment cycle that JPMorgan CEO Jamie Dimon expects to attract $725 billion this year.
Summary
CZ says AI boosts productivity, while Bitcoin’s fixed supply protects wealth from inflation. Jamie Dimon expects AI investment to reach $725 billion amid a powerful spending cycle. BlackRock executives believe debt and currency concerns could strengthen Bitcoin’s long-term case. CZ wrote in a recent X post that artificial intelligence and Bitcoin serve separate financial and economic roles, rejecting the idea that rapid advances in AI can protect investors when fiat currencies lose purchasing power.
“AI is great, but it does not protect you against inflation. Bitcoin does.”
AI is great, but it does not protect you against inflation.
Bitcoin does.
— CZ 🔶 BNB (@cz_binance) July 16, 2026 According to CZ, artificial intelligence can raise productivity, improve business efficiency and support technological development, while Bitcoin gives holders access to an asset whose supply cannot be expanded. His comparison places scarcity at the center of Bitcoin’s appeal rather than treating it as another fast-growing technology investment.
Capital has continued to enter AI software, chips, data centers and computing infrastructure as companies seek applications across healthcare, finance and manufacturing, CZ noted. Although those investments may produce new services and higher output, he argued that ownership in an AI company remains tied to revenue, execution and competition.
Companies developing AI products can also issue additional shares or raise fresh capital to fund expansion, according to CZ. Such financing can dilute existing shareholders, whereas Bitcoin’s protocol limits the total number of coins to 21 million, preventing any company or government from increasing its supply.
For CZ, that difference gives Bitcoin its potential as a long-term store of value when inflation weakens fiat money. His case does not rest on Bitcoin matching the productivity gains promised by AI; instead, he views the asset as protection against monetary expansion and the loss of purchasing power.
Bitcoin and AI serve different investment needs CZ has previously acknowledged that the AI boom could temporarily pull money away from Bitcoin and other assets. As private companies such as OpenAI and Anthropic attract large funding rounds, he argued that some investors may sell existing holdings to gain exposure to AI-related opportunities.
Despite that competition for capital, CZ does not consider Bitcoin and artificial intelligence direct rivals. Under his framework, AI helps companies produce more goods and services, while Bitcoin allows investors to hold an asset that cannot be diluted through additional issuance.
The distinction also separates the risks attached to the two themes. According to CZ, an AI company’s value depends on its ability to turn technology spending into a durable business while competing against other developers. Bitcoin holders face different risks, but its programmed scarcity does not depend on one management team meeting sales targets or defending market share.
Demand for AI infrastructure remains strong, with JPMorgan CEO Jamie Dimon forecasting that related investment will reach $725 billion this year. Dimon has linked his optimism to the volume of capital entering the industry and the continuing strength of the U.S. economy.
Describing the spending cycle as difficult to stop, Dimon compared its momentum with a wave gaining force.
“We’re in a bull market. It’s like a little tsunami. When that kind of thing happens, it’s very hard to stop.”
Dimon’s view supports CZ’s assessment that AI will continue drawing large amounts of investor capital, although the two executives differ sharply on Bitcoin. The JPMorgan chief has repeatedly criticized the cryptocurrency, while CZ has built his inflation argument around its fixed issuance.
Rather than dismissing the AI trade, CZ’s comments assign it a separate purpose. He credits the technology with improving productivity, but he does not believe higher output or stronger corporate earnings can replace an asset designed to resist supply expansion.
Debt concerns strengthen Bitcoin’s scarcity case At the same time, rising government borrowing has added weight to the monetary concerns behind CZ’s position. Dimon, despite his long-running criticism of Bitcoin, has recently warned about government debt and geopolitical risks that could affect markets over the next several years.
BlackRock executives have also connected fiscal pressure with Bitcoin’s investment case. Robert Mitchnick, BlackRock’s head of digital assets, has argued that concern over U.S. debt and persistent budget deficits could become a major source of demand for the cryptocurrency.
BlackRock CEO Larry Fink issued a similar warning in his 2025 annual letter, stating that uncontrolled U.S. debt could eventually threaten the dollar’s reserve-currency status. Fink argued that decentralized assets such as Bitcoin could benefit if investors lose confidence in national currencies and seek alternatives outside government control. BlackRock’s 2025 annual letter also placed technological change and long-term investing among the forces reshaping capital markets.
BlackRock’s fixed-income team has separately identified rising U.S. debt as a risk to demand for long-dated Treasury bonds and the dollar. The asset manager’s analysis warned that heavier issuance and reduced demand from major buyers could push borrowing costs higher, adding another fiscal concern to the case advanced by Bitcoin supporters.
Against that setting, CZ’s argument treats AI spending and Bitcoin ownership as responses to different conditions. His view assigns AI a role in generating economic growth while reserving Bitcoin for investors seeking scarcity when debt, inflation, or currency weakness threatens the value of conventional money.
Russia’s State Duma is poised to conduct final readings on the “On Digital Currency and Digital Rights” bill, a significant piece of legislation that seeks to regulate the country’s cryptocurrency sector. Scheduled for July 21, the bill focuses on licensing exchanges and brokers under the oversight of the Bank of Russia. It classifies cryptocurrency as property and permits crypto use for cross-border settlements while maintaining restrictions on domestic payments. The legislation introduces purchase caps and risk-awareness tests for non-qualified retail investors, allowing them to engage only with highly liquid assets such as Bitcoin (BTC), Ethereum (ETH), and USDT. Market participants appear to interpret these measures as limiting long-term BTC demand, suggesting a potential impact on future price predictions.
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Key Takeaways Russia’s crypto bill appears to limit long-term Bitcoin demand by focusing on licensed turnover and restricting domestic crypto use. The bill introduces regulatory measures such as purchase caps and risk tests for retail investors, suggesting a controlled market environment. Market pricing suggests a moderate decrease in the likelihood of Bitcoin reaching $200,000 by the end of 2026. What to Watch Observers will be closely monitoring the Duma’s final readings and any amendments that might affect the bill’s provisions. The potential impact on global Bitcoin markets could become clearer as the bill moves closer to implementation, expected on September 1, 2026. Watch for any shifts in pricing that might indicate changing sentiment towards Bitcoin’s long-term prospects, especially in light of regulatory developments in other countries.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 2.2% — — View market → December 31 2% — — View market → December 31 2.6% — — View market → December 31 3.5% — — View market → December 31 5% — — View market → January 1 2027 8% — — View market → January 1 2027 21.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 2.2% — — View market → January 1 2027 2.1% — — View market → January 1 2027 2.6% — — View market → January 1 2027 4% — — View market → January 1 2027 6.5% — — View market → January 1 2027 45.5% — — View market → January 1 2027 10.5% — — View market → January 1 2027 1.4% — — View market → January 1 2027 2.6% — — View market → January 1 2027 31.5% — — View market → January 1 2027 16.5% — — View market → January 1 2027 9.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.4% — — View market → January 1 2027 1% — — View market → January 1 2027 11.5% — — View market → January 1 2027 22.5% — — View market → January 1 2027 33.5% — — View market → January 1 2027 52.5% — — View market → January 1 2027 76% — — View market →
The Strategy chairman says the anti-spam soft fork would set a censorship precedent worse than the data problem it targets, weeks before an August signaling window.
Michael Saylor, co-founder and executive chairman of Strategy, published a 110-point essay on X on July 18 urging the Bitcoin network to reject BIP-110, the "anti-spam" soft fork proposal, in a rare foray into protocol governance.
The essay, titled "110 Reasons BIP 110 Is a Bad Idea," had drawn more than 840,000 views by Sunday afternoon. Saylor said he shares supporters' desire to protect Bitcoin but considers the proposed cure more dangerous than the condition it targets.
His central argument is that consensus rules cannot judge the purpose of valid, fee-paying transactions and should not try. Objectors can decline to use, relay, index or mine unwanted data, he wrote, and any consensus rule should address a demonstrated denial-of-service or validation risk rather than perceived intent. The essay's final entry dismissed the measure as "a Bitcoin Iatrogenic Proposal" — repurposing the BIP acronym with the medical term for harm caused by treatment — and closed: "Bitcoin does not need guardians of purity. It needs guardians of neutrality."
What BIP-110 Would DoBIP-110 is a temporary, one-year soft fork bundling seven restrictions on data-heavy transactions. It was first published as BIP-444 in October 2025, after Bitcoin Core's v30 release lifted default limits on OP_RETURN data. A BIP-110-enabled client is based on Bitcoin Knots, the node software maintained by Ocean CTO Luke Dashjr, one of the proposal's most prominent backers.
Supporters frame the debate around incentives rather than neutrality, arguing that treating arbitrary data storage as a supported use distorts fee dynamics, burdens node operators and forces monetary transactions to compete with non-financial traffic. They describe the one-year restrictions as a temporary intervention meant to refocus the network on bitcoin's use as money.
An August Showdown With Thin SupportUnder BIP-110's deployment schedule, a mandatory signaling period opens near block 961,632, expected around Aug. 7, when enforcing nodes begin rejecting blocks that fail to signal, with the rules taking effect for those nodes around Sept. 1.
Signaling blocks currently make up 0.86% of the difficulty period, far short of the 55% needed for early lock-in and never having exceeded roughly 1%, according to the proposal's public monitor. If support stayed near those levels, BIP-110 nodes would reject nearly all blocks from non-signaling miners during the mandatory window, risking a split onto a minority chain. Jason Hughes, Ocean's vice president of development and engineering, estimated node support at 7% to 15% in a guest post for Bitcoin Magazine, arguing the proposal is on track to fail.
Saylor first weighed in on July 11, replying to criticism of the proposal from Blockstream CEO Adam Back with a post arguing there are "110 things more dangerous to Bitcoin than spam." Backers of the soft fork answered the essay in kind: investor Fred Krueger posted a mirror-image rebuttal listing 110 reasons in favor.
The intervention is unusual for Saylor, whose firm is the largest corporate holder of bitcoin (BTC) with 843,775 BTC at an average cost of $75,476, per its most recent SEC filing.
1alt HD: ETF Turnaround Proves Insufficient to Trigger True Macro Bullish Turnaround for Bitcoin Traders
Bitcoin [BTC] was struggling to scale the $65k local supply zone. Since July 14, the spot Bitcoin ETF inflows have been positive. The injection of capital has not been enough to substantially elevate prices yet.
Source: CryptoQuant Crypto analyst ScenarioX noted a steady drop-off in the 30-day Bitcoin spot demand. The metric recovered to -80k BTC in early July, but has since deteriorated to -170k BTC, the analyst explained in a post on CryptoQuant Insights.
Despite decreased demand, prices have stayed relatively stable around $65k because of short-covering in the derivatives market. Easing short-term holder sell pressure was also a contributing factor.
AMBCrypto reported that the turnaround in ETF flows was not enough to confirm a bullish reversal. A reading of the short-term price structure highlighted the importance of the $67.3k local swing high.
Lack of new investors growth signals stabilization, not reversal Source: Axel Adler Jr. The Bitcoin New Investors metric remained near its yearly lows. It measures the share of capitalization concentrated among coins younger than 1 month [not moved in a month or less].
Crypto analyst Axel Adler Jr. used this metric to gauge new capital activity and short-term demand. The analyst observed a reading of 8.1, with the lower boundary at 7 and the upper at 50.
This meant an increase in new capital, but not in enough strength to point toward a BTC trend reversal.
Source: Axel Adler Jr. Further evidence of a local stabilization instead of a reversal came from the short-term holder spent output profit ratio [STH SOPR]. The metric measures the average profitability of short-term Bitcoin holders.
Its 7-day moving average was at 0.99, below the 1.0 mark that separates profitability from realized losses.
A sustained recovery in the metric above 1.0 would signal market sentiment has shifted. As things stand, the lack of significant participation from new capital and short-term holders realizing losses meant that bears were still in control.
Final Summary Bitcoin has not yet found the momentum to take prices above the $65k-$67k local supply zone. The bounce toward $65k was only a brief respite from selling, and not the beginning of a bullish recovery, the metrics showed.
Bitcoin is experiencing a very difficult month of July. Indeed, institutional investors are massively withdrawing their capital from tech stocks and the military situation in the Middle East is deteriorating. This has a direct negative impact on the crypto market, which now suffers from strong risk aversion. Such macroeconomic pressure from both sides weakens Bitcoin’s summer trend and pushes investors to reduce their investments. Today, every move in global markets can worsen Bitcoin’s correction, increase volatility, or change forecasts for the rest of the cycle.
In brief Bitcoin stalls below the key resistance of $65,000 since the beginning of July. Hedge funds are liquidating tech stocks at a record pace unmatched for 10 years. The armed conflict between the U.S. and Iran and the closure of the Strait of Hormuz keep oil above $80. Despite the summer pause, the formation of rising lows suggests a breakout towards $67,000. An institutional flight from Tech and the oil shock in the Middle East The world is currently facing a significant economic shock. Many investors have withdrawn their money from the U.S. stock markets. Also, there are serious geopolitical problems. Here are the key points that explain this difficult situation :
A significant withdrawal of investors in the technology sector : according to Goldman Sachs and The Kobeissi Letter, hedge funds are selling tech company stocks at an unprecedented pace. The Kobeissi Letter states that “hedge funds have sold tech sector stocks in six of the last eight weeks. This means the total sales during these eight weeks are the highest in at least ten years” ; The military situation and sanctions : the conflict between the U.S. and Iran makes investors less willing to take risks. President Donald Trump has asked for Iran to be added to a sanctions list originally targeting Russia ; Tensions in the energy market : crude oil prices remain above $80 per barrel, which is high, and the Strait of Hormuz remains closed. International relations are deteriorating and capital is withdrawing, which has a direct impact on volatility in Wall Street stock markets. At the reopening of markets this Monday, indices showed very different results. The Dow Jones fell by 0.3% for the day, while the S&P 500 and Nasdaq Composite managed to increase slightly. This unstable situation temporarily reduces liquidity available in all financial markets, which affects investments in the crypto sector.
Bitcoin under pressure facing the key $65,000 resistance Bitcoin’s price currently experiences some instability due to the current macroeconomic climate. Thus, it is stuck around the $65,000 level. There is an observed increase in bitcoin volatility against the U.S. dollar during the opening of Wall Street. Bitcoin has repeatedly tried to surpass this threshold without success.
Trader Daan Crypto Trades observed that the price was stuck for some time. He noted on the social network X that “the $65,000 level has prevented the price from rising throughout this July so far”. Analyst and trader Michael van de Poppe thinks the momentum slowdown is partly due to the summer seasonality effect. He described the atmosphere by stating: “it feels like the markets are on summer pause”.
This $65,000 ceiling is a true behavioral and technical barrier that freezes prices. The summer period’s typical slowdown amplifies the asset’s sensitivity to stock market shocks originating from traditional markets. Retail and institutional investors hesitate to commit new capital as long as this upper limit does not show clear signs of weakness. This relative lethargy keeps the crypto market in a narrow channel, closely watching the overall liquidity evolution and capital flows on Wall Street.
A breakout towards $67,000? Despite the psychological barrier of $65,000, Bitcoin’s underlying momentum shows encouraging signs of upward compression. The continuous formation of higher lows over the past three weeks indicates constant buying support. Daan Crypto Trades further complemented his technical analysis by stating: “but I think the longer the price stalls here, the more likely the $65,000 level is to give way. Especially with the higher lows formed over the past three weeks”. Investors are now closely watching the level just above $67,000, identified as the strategic pivot point to cross this threshold.
A push beyond $67,000 would allow the BTC/USD price to fully shift into a bullish market structure. This technical transition would invalidate the phase of doubt accumulated during this month and theoretically open the way for a rally towards $70,000. The accumulation observed despite the massive tech stock disengagement indicates that the fundamental demand for Bitcoin remains robust.
Record sales in U.S. tech and the Middle East conflict negatively impact investor sentiment. However, Bitcoin’s chart shows some resilience. If Bitcoin surpasses the $65,000 barrier, this could trigger reaching $67,000 and restart a sustainable upward trend. The upcoming sessions will be very important to see if Bitcoin can exit this summer lethargy.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Binance founder Changpeng Zhao (CZ) stated that while artificial intelligence and Bitcoin are often considered together in investment markets, they fundamentally serve different functions. According to CZ, AI increases productivity, while Bitcoin is a unique asset that can be used to hedge against inflation and preserve wealth.
In a statement on his social media account, CZ said, “AI is amazing, but it can’t protect you from inflation. Bitcoin can.”
CZ stated that while artificial intelligence is a technology that increases business efficiency and overall economic productivity, Bitcoin, as a digital asset with a limited supply, offers a different value proposition.
CZ noted that the artificial intelligence sector is growing rapidly, stating that global companies are investing billions of dollars in AI infrastructure such as software, data centers, and advanced chips. He pointed out that these investments are accelerating transformation in many sectors, particularly healthcare, finance, and manufacturing.
However, CZ reminded that AI companies can issue new shares and raise capital to finance their growth. Therefore, he stated that the investment value of these companies continues to depend on their operational performance, profitability, and intense market competition.
CZ stated that Bitcoin’s total supply is limited to 21 million units, a structure that prevents the asset’s supply from being increased and investors’ share from being diluted. According to CZ, Bitcoin’s scarcity makes it stand out as a long-term store of value during periods when the purchasing power of fiat currencies declines due to inflation.
CZ had previously stated that the investment boom in the AI sector could attract some of the capital expected to flow into the Bitcoin market. He noted that with AI companies like OpenAI and Anthropic attracting more investor interest, some investors might sell other assets and allocate resources to AI-focused investments.
However, CZ believes that AI and Bitcoin should not be considered direct competitors. According to the Binance founder, while AI supports technological progress and increased productivity, Bitcoin plays a complementary role by offering a store of value unaffected by supply expansion.
*This is not investment advice.
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