To The Moon

$Amazon.com(AMZN)$ Currently operates around 9GW of power capacity. $Microsoft(MSFT)$  is around 5GW. $Alphabet(GOOGL)$  is also near 5GW. $IREN Ltd(IREN)$  currently has about 5.8GW of contracted power. On a relative basis, that puts IREN in the same conversation as some of the largest hyperscale operators when it comes to power-backed AI infrastructure exposure. The key takeaway is scale: in AI, power capacity is becoming a direct proxy for future compute growth. As demand for data centers accelerates, contracted power becomes a strategic asset rather than just an operating input. That's why

$Apple(AAPL)$ Low investor expectations create a favorable setup for a narrative re-rating. A polished AI platform and a clear Agentic vision could push valuation to $365-$385, with upside to $440.

$NVIDIA(NVDA)$ Bulls can look forward to this: NVIDIA has historically had strong performance in July, posting positive returns in each of the last ten years with an average gain of around 10.7%.

I've been paying a bit more attention to $Microsoft(MSFT)$  lately. One data point really stood out to me. The last time Microsoft traded around 20x forward earnings, the stock went on to return 200%+ over the next two years. Does that mean it'll happen again? Of course not. But Microsoft today is arguably an even stronger business than it was back then. • Azure continues to benefit from AI demand • Copilot is becoming part of enterprise workflows • Cash flow and the balance sheet remain best-in-class I'm not in a rush to call the bottom, but when one of the highest-quality companies in the market starts looking reasonably valued, I pay attention instead of looking away. I'm slowly building my watchlist here.

$ServiceNow(NOW)$ $Microsoft(MSFT)$  People should remember that from 2021 to 2022, Nvidia was down nearly 50%, and since that drawdown, it's now up around 1,700%... If you panicked and sold during that drop, you missed a substantial part of the gains. I realize that period coincided with a massive Fed rate hike cycle, but these software companies aren't dead. Money is currently rotating to other parts of the market, but it will eventually cycle back.

$SpaceX(SPCX)$ I think $Amazon.com(AMZN)$  and $Microsoft(MSFT)$  will push past their market caps soon. It's possible they could overtake $Apple(AAPL)$  and $NVIDIA(NVDA)$  in a few years.

$Apple(AAPL)$ There are some gaps up around the $302 area, but overall this price still looks cheap. Given their AI positioning and significant leverage, as Goldman and Morgan Stanley mentioned, $350 seems conservative, and $400-450 is quite possible.

Apple's revamped Siri just clears the bar, enough to get the $Apple(AAPL)$  AI narrative back on track. Not a moonshot, but it stops the bleeding. Sometimes "good enough" is all you need to change the story.

$Apple(AAPL)$ I bought some Apple, Delta Air Lines, and American Express.

$Microsoft(MSFT)$  I'm surprised this didn't drop after hours following the $Adobe(ADBE)$  dump.