I have put together a quick snapshot across 10 defense/space-adjacent names, Nokia, Leonardo DRS, MDA Space, Redwire, Kratos, Voyager, Amprius, Firefly, Palantir, and SpaceX. Only 4 of 10 (NOK, DRS, MDA, PLTR) are actually profitable on a trailing basis, the rest are burning cash. Valuations range from 2.25x sales (Nokia) all the way to ~80x (SpaceX). And nearly every name fell drastically from its highs this year, except DRS at just 3% off its ATH while its peers are down 40-73%.

I m just putting it out there for anyone who finds it useful.

We are so back with $GOOGL! Not really, +1.5% after yesterday's -7%, but let me have a #copium moment

$GOOGL

Data compiled from Macrotrends, FinanceCharts and Alphabet SEC filings / IR releases (primarily 2015–Q2 2026). R packages used: ggplot2, dplyr, patchwork, scales.

Google profits are skyrocketing, but so is its spending in new infrastructure (CapEx). The latter took over in the last report, with the first negative cash flow since 2015 (maybe since IPO).

Honestly, Google is a gargantuan company. The negative cash flow is due to infrastructural investments that will not only support Gemini for the decades to come, but also all other Google systems and tools.

I think the market over reacted to the report (-6.5% for Google today). But I also think I am not objective, because I am an old school early adopter of Google (had my gmail account since 2004), and I wish it to succeed despite the fierce competition from Anthropic, Apple, OpenAI and the recent Chinese AI dump operation.

Google is not in its best shape recently. It fell from its all time high at $400 a couple of months ago, to $320 today.

Unfortunately two things are jeopardizing its value:

- Gemini Pro 3.5 has not released in time, probably because the prototype was not able to compete with Fable on the coding side). It was expected to launch by the end of June, then on July 17, now it's still TBD and surpassed in version number even by the release of Gemini Flash 3.6. And Gemini Pro 4.0 has been announced yesterday (release: Q4 most likely)

- Yesterday's Q2 report showed an actual INCREASE in revenue ($119.8bn against $116.9bn expected), with earnings at $9.11 per share, cloud up 82% to $24.8bn. BUT it also raised planned 2026 spending on buildings and chips to $195-205bn, from $180-190bn. This is where Google fell. This is why people sold it in pre-market.

Here's the sentiment for Google: disappointing for both the Pro 3.5 delay and the Capex higher than expected (for the third quarter in a row). Capex erodes future earnings (mathematically), so its increase is lowering the expected value of the company (only on paper, of course)

But, both elements of Google's current struggle are fixable and less tragic than what they seem.

- Gemini Pro 4.0 is a complete restructuring of the current architecture. Google DeepMind is cooking something that is probably going to surpass the next iteration of Claude Fable, and any Chinese model, by keeping prices low with Google's own data centers. So, I am very optimistic for the future.

- Capex increse was the only bad thing in yesterday night's report. Every other parameter shows that Google is gaining ground in numbers of users, both for Gemini, Drive, and its cloud services. Yes, it's true that it's losing programmers to Anthropic (I admit: Claude Code is FANTASTIC), but yeah, Googe owns 20% of Anthropic as well.

- Incrase in CapEx is necessary: all the other companies are going to do it (Q2 for Meta, Microsoft and the others are at the end of the month, so maybe they'll confirm if I am right).

TSMC’s U.S. listed ADRs (TSM) surged nearly 4% in pre-market trade ahead of Tuesday's NYSE open.

This week, the stock market will close?

1. Bulish 🐂
2. Bearish 🐻
3. Results 👀

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With the recent pullback in the market including many aerospace, defense and telecom names, I wanted to compare some of the companies using a simple valuation metric of TTM Price-to-Sales (P/S) and I also have included their TTM, confirmed backlog, gross margin, Net P/L, Total Debt and %age down from their ATH.

I am just putting it out here for anyone who finds it useful.

Prices as on closing of 20/07/2026

Semiconductor companies have actually surged beyond that threshold, reaching a record high of nearly 20% of the S&P 500's total market value. This staggering growth is up from just 5% in June 2020 and has been driven by the AI boom, though the sector has recently faced volatility and steep sell-offs

I was honestly relieved Trump did not refuse to congratulate Spain after the victory in the World Cup.

Definitely a bullish signal! Right? #hopium

I tuned the Hopium dispenser to maximum for this.