📊 Nvidia Joins The Dow

Happy Sunday!

What a week!

In a decisive win, Donald Trump defeated Kamala Harris to become the 47th President of the United States.

Markets responded with a rally, and the world’s 10 richest people saw a record $64B surge in net-worth the day after the election.

Bitcoin also crossed $76,000 for the first time ever.

A mysterious winner? The French Polymarket Whale, Fredi9999, who’s set to rake in $48M from the election results.

If you found it chaotic to keep up with everything going on, follow me on X—I’ll make sure you stay on top of it all.

Some key data bites from this week that you should know:

• OpenAI acquired the chat.com domain, which was previously purchased for $15.5M.

• China unveiled a $1.4T bailout for local governments to prevent a debt crisis.

• Perplexity AI is finalizing raising $500M at a $9B valuation.

• Costco’s October sales increased 7.2% to $20.03B.

• Median age of first-time homebuyers reached an all-time high of 38.

• Qualcomm announced a $15B share buyback.

• Big Tech is set to spend over $200B on AI CapEx this year.

• Warner Bros. Discovery added 7.2M Max subscribers in Q3, its largest single-quarter jump.

• Microsoft plans to invest $10B in cloud computing startup CoreWeave over the next six years.

• Boeing has finally agreed to a labor deal granting 33,000 machinists a 38% wage increase over four years.

In today’s newsletter:

• 🆕 Nvidia Joins The Dow

• 🥊 Nvidia vs Intel Revenue

• 💰 Warren Buffett’s $325B Cash Pile

• 🦾 Palantir’s Q3 Earnings

• ✂️ The Fed Cuts Rates

• 🔋 Tesla Rejoins The $1T Club

• 💔 The Death of Tinder?

This week, Nvidia reclaimed its title as the world’s most valuable company, closing with a market cap of $3.62T.

This was in part thanks to its new spot in the Dow Jones index.

• On November 1st, the S&P Dow Jones announced Nvidia's inclusion, replacing rival chipmaker Intel.

• Sherwin-Williams also joined the index, taking the place of Dow Inc.

These changes went into effect this past Friday before market open.

Want to see something incredible?

• Just four years ago, Intel generated six times the revenue of Nvidia.

• Fast forward to last quarter, and Intel now earns roughly half of Nvidia’s revenue.

Where can you see critical data like this for every major company?

• The answer is FinChat, by far my favorite investing tool.

• I’ve teamed up with FinChat to give you 15% off any paid plan — an offer you won’t find on their website!

• Upgrading supports my work with a small commission, and you get to save.

No paid plan needed to start, though — there’s tons of valuable data for free. Give it a try!

What does Warren Buffett know that others don’t?

• Berkshire Hathaway’s Q3 earnings revealed a record $325B cash pile, up from $277B in Q2. 

• This growth comes as Berkshire dumped a quarter of its Apple stake, continued selling Bank of America shares, and paused its own share buybacks.

Berkshire’s cash reserve now exceeds the market cap of giants like Coca-Cola, AMD, McDonald’s, Disney, and Intel.

“We absolutely eviscerated this quarter, driven by unrelenting AI demand that won’t slow down.”

• That’s how Palantir CEO Alex Karp described the company’s Q3 earnings. 

• Investors took notice, with the stock soaring 20% on Tuesday after the report. 

Year-over-year, Palantir saw revenue surge 30%, customer count grow 39%, and GAAP EPS double.

• For Q4, Palantir expects revenue to hit $769M at the midpoint—well above analysts’ $741M estimate. 

• The stock has been unstoppable, up 252% this year and nearly 830% since its December 2022 low.

It climbed another 10% on Wednesday following Donald Trump’s victory. 

• Peter Thiel, Palantir’s co-founder, has been a major supporter of J.D. Vance, Trump’s VP.

However, this rally comes at a steep price.

• Palantir is priced to perfection, trading at 123x next year’s earnings.

• And at 50x sales, it continues to be priciest stock in the S&P 500 on a price-to-sales basis.

One fun fact? Wendy’s is leveraging Palantir’s AI technology to keep up with $1 frosty demand.

While everyone was understandably focused on the election, the Fed also held its November meeting this past Thursday.

• In a unanimous decision, the Fed cut rates by 25 bps—a smaller step than September’s 50 bps cut.

• This brought down the target range to 4.50% to 4.75%.

Interestingly, the Fed removed a reference about having “greater confidence” in hitting the 2% inflation target in its post-meeting statement.

Although the rate cut was largely expected, it added to the week’s market euphoria.

• The S&P 500 crossed 6,000 for the first time, with the S&P, Nasdaq, and Dow all reaching record closing highs on Friday.

Tesla has revved back into the $1T market cap club.

• Elon Musk’s close ties to Donald Trump helped drive the stock up 31% this past week, pushing it back over the mark.

• Musk's wealth also surged, reaching $304B, per Forbes.

The 10 largest U.S. stocks now boast a combined market cap of $19.99T, according to companiesmarketcap.com.

Investors just ghosted Match Group.

• Shares of the dating app company plummeted 18% after the company’s Q3 report.

• Although Match beat adjusted earnings expectations ($0.51 vs. $0.48), it missed revenue estimates, posting $895.5M versus the anticipated $901M.

Paying users dropped 3% to 15.2M, with Tinder payers down 4% YoY.

Tinder’s revenue declined 1%, continuing a slowdown that has persisted since 2017.

To make matters worse, Match’s Q4 revenue forecast fell short, with the midpoint at $870M, below the $905M analysts expected.

Investors were left with a signal that a turnaround may not be on the immediate horizon.

Notable Companies Reporting Earnings This Week:

Here’s what I will be watching this week:

• Monday: Monday.com $MNDY, LiveNation $LYV

• Tuesday: Shopify $SHOP, Home Depot $HD, On Holding $ONON, Spotify $SPOT, Occidental Petroleum $OXY, CAVA $CAVA, Maplebear Inc $CART

• Wednesday: Cisco $CSCO

• Thursday: Disney $DIS, JD.com $JD, Brookfield Corp $BN, Advance Auto Parts $AAP, Applied Materials $AMAT

• Friday: Alibaba $BABA, Aegon $AEG, Spectrum Brands Holdings $SPB

I use EarningsHub to track earnings, estimates, and receive AI summaries of investor calls.

• If you’d like an all-in-one earnings tool and see all other companies reporting, I definitely recommend you check it out!

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Buys

• Michael Collins (R)

  • Company: Ethereum ($ETH)

    • Amount Sold: $17K - $80K

• Josh Gottheimer (D)

  • Company: Apple ($AAPL)

    • Amount Sold: $15K - $50K

• Sheldon Whitehouse (D)

  • Company: Eli Lilly ($LLY)

    • Amount Sold: $15K - $50K

Sells

• Sheldon Whitehouse (D)

  • Company: Tesla ($TSLA)

    • Amount Sold: $130K - $350K

• Josh Gottheimer (D)

  • Company: Microsoft ($MSFT)

    • Amount Sold: $15K - $50K

Buys

• South Plains Financial ($SPFI)

  • Insider: Noe Valles (Director)

    • # of Shares Purchased: 50,000

    • $ Amount: $1,675,000

    • SEC Forms: [1]

• New Mountain Finance Corp ($NMFC)

  • Insider: Steven Klinsky (Director)

    • # of Shares Purchased: 290,680

    • $ Amount: $3,133,619

    • SEC Forms: [1], [2]

Sells

• Amazon ($AMZN)

  • Insider: Jeffrey Bezos (Executive Chair)

    • # of Shares Sold: 5,992,724

    • $ Amount: $1,231,381,630

    • SEC Forms: [1]

• Palantir ($PLTR)

  • Insider: Alexander Karp (CEO)

    • # of Shares Sold: 12,343,707

    • $ Amount: $650,638,388

    • SEC Forms: [1]

• Stryker Corp ($SYK)

  • Insider: Ronda Stryker (Director)

    • # of Shares Sold: 230,000

    • $ Amount: $84,494,990

    • SEC Forms: [1]

• Carvana ($CVNA)

  • Insider: Mark Jenkins (CFO)

    • # of Shares Sold: 208,495

    • $ Amount: $46,793,400

    • SEC Forms: [1]

• Hess Corp ($HES)

  • Insider: John Hess (CEO)

    • # of Shares Sold: 300,000

    • $ Amount: $43,131,261

    • SEC Forms: [1]

🤝 Review of the Week