Michal Hlavacka @Michalhla: "𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝘂𝗽𝗱𝗮𝘁𝗲 – 𝘄𝗲𝗲𝗸 𝗲𝗻𝗱𝗶𝗻𝗴..."

Czech Republic

𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝘂𝗽𝗱𝗮𝘁𝗲 – 𝘄𝗲𝗲𝗸 𝗲𝗻𝗱𝗶𝗻𝗴 𝗔𝘂𝗴𝘂𝘀𝘁 𝟮 𝗣𝗮𝘀𝘁 𝘄𝗲𝗲𝗸 𝗿𝗲𝘁𝘂𝗿𝗻𝘀: 🟢 This Portfolio: 1.68% 🟢 S&P 500: 1.05% 𝟭𝟮 𝗺𝗼𝗻𝘁𝗵 𝗿𝗲𝘁𝘂𝗿𝗻𝘀: 🟢 This Portfolio: 37.46% 🟢 S&P 500: 18.15% 𝟮 𝘆𝗲𝗮𝗿 𝗿𝗲𝘁𝘂𝗿𝗻𝘀 (𝘀𝗶𝗻𝗰𝗲 𝗝𝗮𝗻 𝟮𝟬𝟮𝟰): 🟢 This Portfolio: 255.51% 🟢 S&P 500: 59.33% 𝗦𝗶𝗻𝗰𝗲 𝗠𝗮𝗿𝗰𝗵 𝟮𝟬𝟮𝟬 (𝘀𝘁𝗮𝗿𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼) 🟢 This Portfolio: +1020.70% 🟢 S&P 500: 150.94% Check out more statistics about the portfolio here: bullaware.com/etoro/Michalhla 𝗖𝗵𝗮𝗻𝗴𝗲𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 I have opened a first position in $RRC (Range Resources Corp) amounting to 0.5% of the portfolio. $RRC is a natural gas producer with a very large inventory of undrilled natural-gas-rich land. I believe the current datacenter explosion, accompanied by electricity generation solutions mostly powered by natural gas, can drive demand and price. With long-term inventory, $RRC is well positioned to take advantage of this shift. The company is well run and currently at a reasonable valuation. 𝗡𝗲𝘄𝘀 A Chinese state-backed lithography tool producer competing with $ASML (ASML Holding NV) reportedly started mass production of its immersion DUV tools. So far, this category was a monopoly of $ASML, which was the only producer of the second most advanced technology - immersion DUV - and also the most advanced EUV tools. We will see whether these tools work well and enable high-yield semiconductor manufacturing, which is required to make the economics of chip manufacturing work. Another important factor is whether the production will scale fast enough to erode $ASML's revenue at all since the demand is very high. $ASML currently makes around 20% of its revenue selling to Chinese customers. $AMZN (Amazon.com Inc) reported positive quarterly results with revenue growing 20% and the cloud segment (AWS) growing 37%. The fact that growth is accelerating at this scale (AWS is the largest cloud provider) shows that the AI buildout has a rationale, and the investments required to benefit from the demand are definitely justified. $GOOG (Alphabet) and $MSFT (Microsoft) reported results that signaled exactly the same thing. The market reaction showed that investors now broadly reject the narrative that the capex of hyperscalers is out of control. All hyperscalers also stress that they only make long-term investments into the land, buildings and power for datacenters, while they only commit the majority of the investment into the datacenter - the chips and connectivity - a few months before the datacenter comes online. At that point they have good visibility that the demand for a given datacenter exists. Thus the risk of overbuilding is fairly limited. One interesting point during the $AMZN earnings call was when Andy Jassy stated he expects the company to train a leading AI model. In his view, there will be around 6 leading models and one of them will be Amazon's. At the moment, the possibility that the company will be selling its proprietary Trainium and Graviton chips to third parties to install in their own datacenters is not yet taking shape. The management confirmed there are active discussions with customers about that, but my instinct is that at the moment $AMZN can put all those chips to work in its own cloud business at great returns and also makes sense strategically. Selling them as hardware will probably make sense if they are limited by available datacenters to put the chips in or by cloud demand. $QCOM (Qualcomm Inc) reported earnings with revenue falling 4% year over year and net income down 25%. This is due to the impact of spiking memory prices on smartphone production. Licensing of connectivity technologies and sale of Snapdragon smartphone chips are currently the main business, while the management steers the company towards datacenter chip products. 𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿: Copy Trading is not investment advice | Capital at risk | Past performance does not guarantee future results

Not investment advice. The author may have financial interests in the mentioned instruments.