To The Moon

Previously, when the big banks predicted the U.S. stock market in 2025, they used the words "shock" and "volatility".From the performance since the beginning of the year, the "defense" posture is a very obvious feature, for example: from the sector point of view, $S&P 500(.SPX)$ index of the sector dynamics of the change, it is notable from the previous dominant technology stocks to the shift of financials, health care and materials sectors.Materials sectors.Policy dividend-driven financial sector, earnings repair healthcare and materials sectors have become the new focus in 2025, while technology stocks are temporarily weak due to valuation pressure.Sector Rotation StatusThe Information Technology (+36%) and Communication Services (+39%) sect

$Target (TGT)$ have not been too volatile since the release of its Q4 results.Despite the same "tariff threat" and potential consumer downgrade, its Q4 profit beat and clear 25-year plan, combined with the effectiveness of its current omni-channel strategy, make it a good medium- to long-term watch. $Wal-Mart(WMT)$ $Costco(COST)$ Performance situation and market feedbackQ4 core financial metrics paper, margins beat expectationsRevenue: $30.9B (-3.2% yoy), slightly exceeding market expectations of $30.77B (+0.48%).Since Q4 2023 has one more week than Q4 2024, excluding this effect, full year revenue growth on a comparable basis is ~1%;Earnings per share (EPS): GAAP and

$CrowdStrike Holdings, Inc.(CRWD)$ Q4 FY2025 earnings report, released on March 4, 2025, presented a two-sided picture of solid revenue growth but weaker-than-expected earnings guidance.Continued strength in core growth metrics (ARR, platform penetration), but aggressive investments led to short-term earnings pressure.The share price correction reflects the market's re-pricing of the "high growth and high spending" model, and we need to pay attention to whether the ARR growth rate can hedge the rising expenses and the progress of commercialization of the AI product line.In the long run, if the $10B ARR target is reached, the platform effect will significantly improve margin elasticity.Performance and Market FeedbackSolid core numbers for the quart

$Best Buy(BBY)$ plunged 13% after its earnings report, which honestly didn't look too bad, but because of the decline in same-store sales, it will have investors combining that with the previous weaker-than-expected guidance from $Wal-Mart(WMT)$ that retail sales are sluggish and recession risks areincrease. $Target(TGT)$ TakeawaysTariff uncertainty: China/Mexico tariffs are the biggest risk variable, initially estimated to drag sales by 1% (if maintained at 10%), but management emphasizes flexibility (SKU adjustment/supplier negotiation).New business layout: Marketplace (SKU expansion) and Ads (agency cooperation) are future profit engines, FY26 investment period,

$Sea Ltd(SE)$ reported a 7% overall headwind collection after reporting Q4 earnings, and the market is optimistic about e-commerce performance in the quarter, with SE stock nearly tripling from its lows at the beginning of last year.Earnings and Market FeedbackSea Limited (SE) Q4 2024 revenue reached $5.0B (+36.9% yoy), significantly exceeding market expectations of $4.65B. GAAP net profit was $237.6M vs. a loss of $111.6M a year ago, and for the first time ever a full-year profit of $447.8M was realized (vs. $162.7M in 2023).Segmented business look:E-commerce (Shopee): GMV exceeded $100B (+28% yoy), focusing on Asia and Brazil markets Adj EBITDA turned positive;Digital Finance: loan size grew 60% yoy to $50B, but underlying loan growth was slightly

As $Taiwan Semiconductor Manufacturing(TSM)$ announces a $100 billion investment in its U.S. plant, Ming-Chi Kuo comment:Investment Highlights:The investment program has been partially adjustedTotal investment increased by 100 billion U.S. dollars, the implementation details remain flexible, but also to eat through Trump's "love of face" and "shouting slogans" characteristics;Changes in factory layout: reduce one advanced process fab, add one advanced packaging plant, and set up more R&D centers to strengthen technological competitiveness.Strategic cooperation rather than relo

$Okta Inc.(OKTA)$ This quarter's results validate the success of the transition from "high growth" to "high quality growth" (continued turnaround), and 2026 expectations are conservative but still ahead of the market.The 2026 forecast is conservative, but still ahead of market expectations.Performance and market feedbackCore Financial IndicatorsRevenue: $682M (+12.7% yoy), beating market expectations of $668.9M.Earnings per share (EPS): $0.78 (+24% yoy), beating estimates of $0.74.Operating Profit: $168M (+30.2% yoy), operating margin improved to 1.2% from -13.7% a year ago.Free Cash Flow: Free cash flow margin of 41.6% (23.2% last quarter) and full year operating cash flow of $750M (+46% yoy).Operational Efficiency HighlightsSubscription reserve:

Big-Tech’s PerformanceWeekly macro storyline:U.S. stocks risk sentiment rose sharply, the $NASDAQ(.IXIC)$ recorded the largest one-day decline since DeepSeek.Tariffs again, USD strengthened , but the Yen began to return to the "safe-haven" propertyConcerns about jobless claims data are starting to escalate, which could be a sign of economic problems or a consequence of the recent widespread layoffs in the DOGE sector, and it is suspected that the market is taking its anger out on the TSLA.Big techs, Nvidia's earnings report is naturally the focus, but the impact has declined, even if the data is still great, but "beautiful enough" will allow investors to take profits to step on.Since the beginning of the year, only META in the big technology reco

$Dell Technologies Inc.(DELL)$ this quarter showed a "fire and ice" pattern: AI server demand explosion and traditional business decline coexist, PC market dawn but the consumer side is still mired in the quagmire.Short-term catalysts: AI server deliveries driven by improved GPU supply; long-term risks: storage business shrinking faster than expected, APEX transformation not as good as peers (e.g., $Hewlett Packard Enterprise(HPE)$ 's GreenLake).Key indicators to watch: AI server deliveries, commercial PC order growth, APEX subscription revenue share.Performance and market feedbackCore FinancialsRevenue: $22.3B (11% yoy, slightly beat estimates of $22.1B, +0.6%)Adjusted EPS: $1.74 (beat estimate of $1.72,

$Snowflake(SNOW)$ Came to a stage of margin expansion for large SaaS companies and bumped up against the rapid expansion of AI offerings, which ushered in further favorable results.Earnings and market feedbackQ4 FY2025 results were announced after the bell on the 26th, continuing to show strong growth + beating market expectations across the board.Q4 overall Top line and Bottom line both exceeded expectations, with Top line Surprise ranging around 3%; product revenue of $943.3M + 28% YoY, beat consensus $918.8M;Guidance for FY26 is very clear and strong, with product revenue expected to be $4.28bn (> consensus $4.23bn), of which $955-$960m (YoY +21-22%) in Q1; Adjusted operating margin target upgraded to 8% (vs. 5% in FY25), with the earnings p