๐๐ ๐ ๐ข๐จ๐ซ๐ง๐๐ฆ๐๐ง๐ญ๐จ ๐๐ฉ๐ซ๐ข๐ฅ๐ ๐๐๐๐ | +๐%
Aprile si chiude con un risultato positivo: circa +9%, ridimensionato rispetto al picco di +14,78% toccato qualche giorno fa dalle trimestrali di META e MSFT pubblicate oggi โ ottime nei numeri, ma punite dal mercato.
๐งญ ๐๐จ๐ฌ๐ รจ ๐ฌ๐ฎ๐๐๐๐ฌ๐ฌ๐จ ๐จ๐ ๐ ๐ข
$META (Meta Platforms Inc) ha riportato ricavi a $56,3 miliardi (+33% anno su anno) e utile netto di $26,7 miliardi โ numeri sopra le attese. Il mercato ha venduto per via della guidance sul capex 2026, alzata a $125-145 miliardi: investimenti enormi su chip, server e data center che comprimono i margini nel breve. Risultato: -6% sul titolo.
$MSFT (Microsoft) ha chiuso con ricavi +18% e profitti +20%, con Azure che cresce del 40% e l'AI che ha superato i $37 miliardi annui. Anche qui, tutto sopra le attese. Eppure il titolo ha perso quasi il 6% in after-hours. Il motivo รจ lo stesso: il mercato non premia i buoni risultati passati, premia le aspettative future โ e quando i prezzi incorporano giร molto ottimismo, anche una trimestrale eccellente puรฒ deludere.
๐๐ ๐ฆ๐ข๐ ๐ฅ๐๐ญ๐ญ๐ฎ๐ซ๐
Non cambio nulla. Questi non sono problemi strutturali: sono aziende che investono miliardi nell'AI perchรฉ la domanda lo giustifica. Il backlog di Microsoft ha raggiunto $627 miliardi โ contratti giร firmati da clienti enterprise. META continua a monetizzare meglio di chiunque altro nel settore pubblicitario. Le vendite di oggi sono rumore, non segnale.
Il resto del portafoglio resta invariato. Le perdite aperte su ADBE, PYPL e le altre posizioni growth rimangono, ma la strategia non cambia in base alle reazioni di breve periodo.
Accetto la volatilitร come parte del percorso, perchรฉ รจ il prezzo da pagare per ottenere rendimenti superiori nel lungo periodo.
โ martidg97... Show More Translate
Not investment advice. The author may have financial interests in the mentioned instruments.
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