Pressure Points

On this episode of Pressure Points, Gene previews Apple earnings on Thursday. Get ready to hear more about a step-up in Capex. Big picture, more spending in AI is really good for Apple long-term. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene talks how GOOG being up 12% in after-hours makes sense because both Search and GPC growth accelerated. Also, margins are going higher this year. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Meta down 17% is both explainable and an overreaction. Big Picture: They’re going to build multiple new large businesses around AI in 2025 and beyond. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

On this episode of Pressure Points, Gene outlines the key takeaways from Tesla's earnings. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

I’m bracing for shares of TSLA to go lower after they report because consensus deliveries for 2024, 2025 and 2026 are likely too high. My long-term positive view is unchanged. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene has a different explanation than Tesla about why March deliveries were ugly. Big picture; This will pass because Tesla is making the right decisions for the long-run. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

On this episode of Pressure Points Gene breaks down the AI expectations for Apple's WWDC event in June. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Meta investors should pay close attention to what is happening with TikTok. While an outright ban on TikTok is now less likely, if it happened it would have a material positive impact on Meta's business. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Sounds like FSD is making some material improvements. I discuss when and to what extent it will impact Tesla's business in this episode of Pressure Points. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

The most important comment on the Nvidia earnings call was Jensen’s closing remarks about the size of the opportunity. We discuss in this episode of Pressure Points. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Here’s the preview for Nvidia earnings coming up on Feb 21. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

When it comes to META and AI, Llama is a meaningful lever the company can pull in 2-5 years. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene Munster and Andrew Murphy break down 48 hrs with Vision Pro. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene talks about how Meta’s business is humming, and AI is going to make it better. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene previews Apple's earnings tomorrow night (Feb 1, 2024) and the several moving parts this quarter. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene talks about how Microsoft is seeing the impact of AI in Azure, Office and cost savings. Bottom line, Street estimates are going up slightly tomorrow. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene talks Google's solid quarter, especially in Cloud. The fractional disappointment was commentary about Search growth in 2024. Deepwater owns GOOG and believes AI will be a meaningful longterm benefit to the company. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

This week Gene talks Tesla's Q4 earnings and expects shares of TSLA to drift lower the following day. That said, they are making the right decisions for the long term. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene talks about why TSMC should be the company that expands the Mag 7 to the Mag 8. Spoiler alert: What they do is critical to AI and it’s hard to replicate. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Q4 deliveries. Tesla grew deliveries in the Dec qtr by 20%. My sense is that will be in line with other traditional car makers EV growth. As a point of reference, $RIVN Dec qtr deliveries were 1/20th of Tesla’s and down 31% YoY. I’m optimistic Tesla can hold US mkt share in 2024. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene talks about by next near we should hear more from Apple when it comes to generative AI and Siri. Patience is a virtue, given it will likely take years to impact revenue. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene discusses why Musk raising $1B for X.AI means Artificial General Intelligence is going to come sooner despite his comments about going slow. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene Munster talks through the Cybertruck release event, impacts of pricing, and the importance to investors. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Gene Munster previews Tesla's Cybertruck launch on November 30 and discusses production and delivery estimates through 2025. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com

Deepwater Asset Management's Gene Munster discusses the Pressure Points of OpenAI's DevDay. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com