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ThesisMemo Research

Google Cloud is accelerating—but Search still anchors Alphabet’s AI thesis

Alphabet’s June-quarter results connect rapid cloud growth with a resilient search business. Can both fund AI expansion while improving the economics for each shareholder?

ThesisMemo Research

Microsoft’s AI growth is clear. The next test is cash returns.

Azure and Copilot offer two routes to AI monetization. Microsoft’s June-quarter results show why infrastructure spending, renewals and cash conversion belong in the same investment thesis.

ThesisMemo Research

Ciena and Zscaler become Thursday’s next tests for AI networking and security demand

After Broadcom’s report, investors turn to optical-network capacity and cybersecurity for evidence that AI spending is broadening beyond compute.

ThesisMemo Research

Oil edges lower but Brent remains near $95 as geopolitical risk stays elevated

Crude eased in early Thursday trading after recent gains, offering limited relief to markets still focused on inflation and supply risk.

ThesisMemo Research

Nvidia gains more than 3% as Wall Street ends a three-day losing streak

The S&P 500, Dow and Nasdaq all advanced Wednesday as technology shares rose and bond yields steadied.

ThesisMemo Research

ADP private payrolls rise 38,000, below expectations ahead of Friday’s jobs report

The softer hiring estimate pulled Treasury yields from recent highs, but elevated energy prices leave the policy interpretation unusually difficult.

ThesisMemo Research

U.S. futures turn muted as oil risk and Broadcom’s outlook offset Wednesday’s rebound

Technology earnings remain supportive, but high oil prices and Middle East escalation are keeping the inflation and rate path uncertain.

ThesisMemo Research

Dell says AI Factory customers topped 6,500 as enterprise adoption accelerated

The company added roughly 3,300 customers in three quarters, with repeat buyers, enterprise revenue and pipeline all moving higher.

ThesisMemo Research

Broadcom AI semiconductor revenue reaches $16.7B, but shares slip on the Q4 bar

AI revenue grew 221% year over year and management expects another acceleration next quarter, yet the consolidated outlook did not clear the market’s highest expectations.

ThesisMemo Research

Nvidia, Dell and Broadcom all confirmed AI demand—the stocks are trading the quality of the beat

Three recent updates show demand expanding across accelerators, systems, networking and custom silicon. The market is now distinguishing growth from expectation-adjusted growth.

ThesisMemo Research

ADP added only 38,000 jobs—but the rate debate did not get easier

Private employment undershot expectations while Treasury yields eased from multi-year highs. Softer hiring is colliding with energy-driven inflation risk ahead of the official payroll report.

ThesisMemo Research

Oil near $95 and a 4.78% Treasury yield are testing the equity rebound

U.S. futures were muted Thursday after technology shares lifted Wednesday’s session. Stable yields helped, but oil and geopolitical risk continue to raise the inflation hurdle.