Iceberg Invest - Long Only Equity - Quality Focus
@IcebergInvest
Equity investing dork. Long term horizon. Focus on the best equities at reasonable prices. Not investment advice. Find the overlap.
Growth in the digital economy is supported by many themes - AI, Cloud , Automation, Energy Transition & Edge Computing. Underpinning it all...semi-equipment companies. They have high barriers to entry & have dominated their niches for a long time. $ASML $AMAT $KLAC $TEL $LRCX
You know what's cool... a quadrillion tokens. We processed almost 1,000,000,000,000,000 tokens last month, more than double the amount from May. 📈
Google is processing 980 trillion+ monthly tokens across our products and APIs (up from 480T in May) 🤯 No slowdown in sight, intelligence is everywhere.
5) From China's view, the goals is clearly different. a. Reducing U.S. tariffs rate on China. Of course, China has been quite tough toward U.S. sky-high tariffs since April 2, but there is little doubt that it does have impact to its economy. This should still be a priority to…
ServiceNow $NOW 2Q25 Earnings - Rev $3.2b +22% ↗️🟢 - GP $2.5b +20% ↗️🟢 margin 77% -151 bps ↘️🔴 - NG EBIT $955m +33% ↗️🟢 margin 30% +230 bps ✅ - EBIT $358m +49% ↗️🟢 margin 11% +200 bps ✅ - NG Net Inc $854m +31% ↗️🟢 margin 27% +178 bps ✅ - Net Inc $385m +47% ↗️🟢 margin…
SK Hynix, the leader in HBM memory chips for AI data centers, said 2nd quarter revenue and operating profit hit record highs on strong demand, and it is on track to double HBM chip sales in 2025. The company also raised its 2025 capex forecast, without providing a figure. 1/3 $MU…
🌐 ✅ 📈 🚀 👇 BREAKING: BE Semiconductor Industries (BESI) results are out! $BESI 👉 Results broadly in line, orders below css but significant increase foreseen next quarter, outlook Q3 below consensus with margins negatively impacted by Forex (USD) & more positive tone on…
Report: TSMC sees 2nm orders surge; related capacity to reach 200,000 units by 2028 TSMC has continued to accelerate its development of sub-2nm processes despite market expectations that clients would turn cautious with their 2nm orders, given the quote for the process is as…
$MELI Brilliant write-up that perfectly describes MELI's current reality. So if you want to refresh your MELI knowledge or discover MELI from scratch, this is a must read. beyondspx.com/article/mercad…
Me desperté hoy domingo con ganas de hacer un back‑of‑the‑envelope post sobre unit economics. Por si mañana Zucho me suelta el mic y hablo un poco de estas pelotudeces que separan empresas reales de las de la fantasía. Estoy con la tarea. No todos los ingresos valen lo mismo.…
Pause on this fact: Wise is the only fintech in history to achieve global supremacy in a specific market (C2C XB) and sustain 20%+ client volume growth for years. Whatever your favorite fintech is, it’s either not a global leader or it’s growing <20%.
After a decade of mostly empty rhetoric, in recent quarters @wise has finally begun steadily moving toward its mission of lower c2c xb pricing, now averaging 0.52%. The hope behind that business model is that maintaining an incredible 20%+ volume growth at scale will create a…
Interesting anecdote from the annual shareholder meeting of the Chapters Group $CHG.DE on how a subsidiary increased prices by 84% and saw zero churn. $CHG.DE aims to increase organic EBITDA growth to low double digit percentages by 2025 and beyond.
MercadoLibre's reported FCF can be deceiving 💰 It’s inflated by Mercado Pago’s credit business. To get a clearer picture of $MELI true cash flow, I adjust for: ✔️ Provision for Doubtful Accounts (non-cash fintech losses) ✔️ Credit Card Receivables (cash tied up in lending)…
This Micron slide is a great visual analogy — building a chip is just like constructing a building, except it’s a structure so small you can’t see it with the naked eye. Layer by layer, just like floors in a building, the chip is built up from the silicon wafer with metal…
As a $MELI investor this note=winning Winning in e-commerce vs $SE & $AMZN Winning in Fintech vs $NU in Mexico 🇲🇽 and Brazil 🇧🇷 Winning in Argentina 🇦🇷 and benefiting from the economic recovery. Winning in all environments set $MELI apart.
Given that Netflix’s US streaming subscriptions range today from US$7.99 to US$24.99 (vs UCAN 4Q24 ARPM US$17.26), it is amazing that back in 2001, 91% of Netflix‘s paying DVD by-mail subscribers were paying US$19.95 (Netflix‘s IPO prospectus).
3 is notable because there is ~0 built in for edge AI in $ASML guide now or in 2030.
Got a couple questions about $TSM's earnings. Biggest takeaways for me were: 1) AI demand continues booming (reflected both in the Q3 guide and 2026 supply/demand comments), but they're more cautious about other markets due to macro/tariffs (hence the conservative implied guide…