Markets
markets
Luke Kawa

Hon Hai’s profit miss is still good news for the AI boom

Major Nvidia and Apple supplier Hon Hai (better known as Foxconn) reported a set of mixed Q4 results.

The electronic components manufacturer posted revenues of NT$2.61 trillion, ahead of estimates for NT$2.45 trillion, but net income of NT$45.21 billion came in below the anticipated NT$59.86 billion.

While this is one way to interpret those results...

...the other would be to note that revenues beat expectations, that its AI-linked business’s sales beat those of its smartphone division in Q4 (the peak season for the latter), and that the company said “the AI server sector is expected to see strong growth in 2026.”

And then there’s this headline from Dow Jones, to underline the point:

Foxconn Expects 2026 AI Server Rack Shipments to Grow Exponentially

There’s... no bad news about AI demand here, and the market seems to agree, with Nvidia up 1.1% in premarket trading as of 7:17 a.m. ET on Monday.

Most likely, we’ll get some more reassuring commentary on the state of the ongoing spending tech campaign when Nvidia CEO Jensen Huang delivers the keynote address at the chip designer’s GTC in San Jose.

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Luke Kawa
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Credit markets have a “debt” problem, not a “risk” problem

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three
markets
J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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