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November 4, 2026 The Appetizer “There’s a difference between a strategic mistake and a tactical mistake. Being six weeks late is a manageable risk to take.”
Now, on to the numbers. Drum roll, please …
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Dig In Earnings season is delivering a reminder that even strong growth isn’t always enough to impress investors. Technology stocks have come under pressure in recent weeks as investors take a closer look at the billions of dollars companies are spending on artificial intelligence. For example, Alphabet, Google’s parent company, saw its shares tumble more than 12% following its latest earnings report. While its cloud business continued to grow rapidly, investors were concerned about rising spending, weaker-than-expected revenue, and the impact on cash flow. It’s a familiar story during earnings season. A company can report growing sales and profits yet see its stock decline because investors were expecting even better results. And sometimes, the opposite happens: Disappointing earnings can send a stock higher if the news isn’t as bad as feared. What’s different today is the amount of money at stake. With technology companies investing heavily in AI infrastructure, investors increasingly want evidence that those investments will eventually translate into stronger profits and cash flow. The takeaway? Strong business performance and strong stock performance don’t always go hand in hand. Ultimately, what matters isn’t just how well a company is doing, but how its results compare with the expectations already reflected in its stock price. |
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Weekly Specials The pick-and-shovel plays of the AI gold rush aren’t just graphics processing units. They’re concrete, copper, gravel ... and even gray paint. Steelguard 951, a fire-resistant coating used in data centers, is seeing demand surge as the AI boom creates some unlikely winners. Turns out, even watching paint dry can be exciting. By day, Mike Valladao is a cybersecurity systems engineer. By night, he’s “Farmer Mike,” the “Picasso of Pumpkin Carvers.” For four decades, he’s turned pumpkins into masterpieces, proving that creating the illusion of depth takes more than a knife. It takes a little fairy dust. As AI becomes more capable, Harvard freshmen are rediscovering an old idea: Some lessons can’t be automated. Humanities 10 is booming because, as one student put it, you can’t get the human experience out of AI. A small dinosaur with a massive price tag. A fossil of Nanotyrannus, a predator that looked like a mini T. rex, just sold for over $47 million, proving demand for dinosaurs is anything but extinct. |
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Corporate Lunch Nvidia is investing $3 billion in Meta’s equity offering, adding to more than $50 billion in major AI investments. After more than 170 investments across the AI ecosystem, Nvidia is handing out billions like Halloween candy. SpaceX wants to become America’s fourth major wireless carrier. At this rate, Elon Musk might soon be responsible for your car, your internet, your phone, and your trip to Mars. McDonald’s is hosting a reservation-only tasting menu in NYC. The only question: Will the ice cream machine be working for dessert? Casey’s General Stores is rolling out new pan pizzas after two years of development. Pretty soon, filling up the tank will just be something we do while waiting for our pizza. General Motors is moving its listing to the tech-heavy Nasdaq. Time to swap the factory hard hats for Patagonia vests and start talking about disruption. Coca-Cola is enjoying a diet soda revival among younger consumers. Between wired headphones, digital cameras, and Diet Coke, Gen Z is slowly recreating the early 2000s. |
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