$Nokia Oyj(NOK)$  Took profit but sold too early. AI + Cloud is now the growth flywheel. * AI/cloud revenue surged ~49% with €1B in new orders * Management raised Network Infrastructure growth guidance to 12–14% * The AI infrastructure market is now expected to grow at ~27% CAGR through 2028 Nokia is no longer just a telecom vendor — it’s becoming a critical backbone provider for AI data centers. Market is starting to re-rate the story. * Stock has been on a multi-day rally, hitting fresh 52-week highs post-earnings * Analysts are revising price targets upward as the AI narrative gains credibility What’s working: * Optical networks + data center exposure (where hyperscaler capex is exploding) * Margin expansion throug

DBS just delivered — and $60 may be closer than the market thinks DBS Group Holdings Ltd (SGX: D05) posted another strong set of results last week. On the surface, it was a “beat.” But stepping back, the more important takeaway is this: 👉 The earnings base is holding firm, even as rate tailwinds normalise 👉 The business mix is improving, not deteriorating 👉 And the capital return story remains highly compelling Put together, the pathway to $60/share looks increasingly achievable — potentially sooner than expected. ⸻ 📊 Not just a beat — a resilient earnings engine * Net profit: ~S$2.9B (+1% YoY) * Total income: Record levels * ROE: ~17% (still best-in-class globally) * Dividend: S$0.81/share (including capital return component) What stands out is the quality of earnings. Yes, net interest m