What this post is about AMD makes computer chips. Two years ago, most people knew them for the chips inside gaming PCs and regular business computers. In the last 12 months, they signed deals worth more than $120 billion to make AI chips for the world’s largest AI companies. This
Why the cash collapse is not the story, the backlog is — and what investors are really being asked to underwrite. TL;DR Trailing twelve-month free cash flow fell 95% to $1.2 billion while Amazon spent $43.2 billion on capex in a single quarter. AWS revenue grew 28% to $37.6 billion
How Q1 FY2026 turned Google from a search-ad cash machine into the world’s most capital-hungry AI infrastructure builder — and why the headline net income hides the real story. By David Berkowitz · Berk on Value · Published April 30, 2026 TL;DR Alphabet reported Q1 FY2026 revenue of $109.9 billion,
Week ending Friday, April 25, 2026 | Berk on Value | VAP Wealth Advisors TL;DR Five VAP holdings reported earnings this week. All five beat. Three got hammered anyway. The headline S&P 500 record close at 7,165 hides what is actually moving the tape. Intel printed a blowout Q1 ,
Ticker: MEDP | Event: Q1 2026 earnings release, April 22, 2026 | Stock reaction: ~20% drop TL;DR Medpace posted Q1 2026 revenue of $706.6 million, up 26.5% year-over-year, yet the stock dropped roughly 20% after hours because forward indicators collapsed. The net book-to-bill ratio fell to 0.88, the weakest reading
TL;DR Amazon closed 2025 with revenue of $717 billion, up 12% from $638 billion the year before, with operating income climbing 17% to $80 billion. Free cash flow collapsed from $38 billion to $11 billion, driven by a $50.7 billion year-over-year jump in property and equipment spending tied to AI
April 6, 2026 | TL;DR Iran has 208 billion barrels of proven oil reserves and the world’s second-largest natural gas reserves. Forty-seven years of sanctions have kept most of it offline. James Altucher and Iranian-born investor Kiana Danial argue that regime collapse would trigger a peace dividend larger than the
One Variable Rules This Market: Oil, Iran, and the Week That Showed Investors What Really Matters April 5, 2026 | David Berkowitz, CFA | VAP Wealth Advisors TL;DR The S&P 500 snapped a five-week losing streak with a 3.4% gain through Thursday, April 2, led by mega-cap tech and semiconductors
A Beginner’s Framework for Ownership-Based Investing By David Berkowitz | VAP Wealth Advisors | March 2026 TL;DR Your brain treats a falling stock chart like a charging predator. The amygdala elicits the same fight-or-flight response to financial losses as to physical threats [PMC Neuroscience Study]. Loss aversion makes a 30%
TL;DR Thirteen states still tax groceries in 2026. In some Alabama counties, the combined rate hits 9% at the register. “No income tax” states shift the burden to property and capital gains. Texas effective property tax: 1.245%. Washington’s top capital gains rate: 9.9%. Six states impose inheritance taxes in 2026.
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