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Butterfly Network beats Q2 estimates on $32.6M revenue, narrower EPS loss
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Jul 31 2026, 21:26
TSM shares sit 15% below high despite 77% profit surge
TSMC reported Q2 revenue of $40.2 billion, up 36 percent year over year, with net income jumping 77.4 percent as 2nm entered production. Wall Street's consensus price target of $540.20 implies 33 percent upside, backed by 5 Strong Buy, 12 Buy, and 2 Hold ratings with zero sell calls, according to analyst data compiled by 24/7 Wall St. Advanced nodes at 7nm and below now generate 77 percent of wafer revenue. Full-year 2026 revenue guidance was raised to slightly above 40 percent in USD, up from roughly 30 percent in January. Q3 gross margin guidance of 65 to 67 percent reflects 2nm ramp costs. Shares trade at $405.32, down 15.55 percent over the past month and 13 percent below the 52-week high of $479. The year-to-date gain of 33.38 percent masks a pullback that began in late June, driven by a broader chip-stock rotation and margin compression concerns from the 2nm ramp. With a beta of 1.246, the stock swings harder than the market in both directions. At $405.32, TSM trades at roughly 23 times forward earnings on $17.32 in forward EPS, with a PEG ratio of 0.95. Ten-year holders are up 1,659.73 percent. The company's $100 billion U.S. manufacturing commitment adds a structural tailwind, while the A13 technology debut at the North America Technology Symposium and the Sony Semiconductor Solutions partnership extend the roadmap. Reaching $550 would require a 35.7 percent gain from current levels, implying a forward P/E of 32x. The base case of $515.64 already implies 29x, meaning the bold target requires roughly 3x of additional multiple expansion. Three conditions must hold: 2nm pricing power through 2027, sustained AI hyperscaler demand, and Q3 gross margins landing at the high end of the 65 to 67 percent guide. The demand backdrop remains strong. NVIDIA guided Q2 revenue to $91 billion, and Microsoft's AI business surpassed an annual run rate of $37 billion, up 123 percent year over year, according to company filings. Dan Ives, global head of technology research at Wedbush Securities, has described the AI buildout as being in the "third inning," suggesting sustained demand for leading-edge silicon through the decade. The guidance raise shows management expects AI demand to accelerate. Investors will watch Q3 results for gross margin trajectory as 2nm volumes scale, with the primary risk being a geopolitical shock across the Taiwan Strait. This article is for informational purposes only and does not constitute investment advice.
Jul 31 2026, 21:25
Gold pulls back as 30-year Treasury yields test 2007 levels
Gold, silver, and platinum pulled back as the 30-year Treasury yield tested levels last seen in 2007, raising the opportunity cost of holding non-yielding metals. The 30-year Treasury yield tested levels last seen in 2007, according to FX Empire's July 31 forecast, which tracks gold (XAUUSD), silver, and platinum price action against the US rates complex. Rising yields typically weigh on precious metals by increasing the opportunity cost of holding non-yielding assets. The move pressured gold, silver, and platinum in tandem, with the forecast flagging continued downside risk for the complex as long as long-end yields stay elevated. The 30-year yield reaching multi-decade highs carries implications beyond the metals complex. It could also pressure equity markets and the broader financial system, FX Empire noted, while the teetering US stock market faces a jobs report and a heavy earnings week that will test how far the rates repricing can run. Precious metals traders will watch the next US data release as the key catalyst for whether the pullback extends or stabilizes. This article is for informational purposes only and does not constitute investment advice.
Jul 31 2026, 21:22
SpaceX falls 36% in a month as space stocks slide together
SpaceX shares fell 36% in a month, with Rocket Lab and AST SpaceMobile dropping similar amounts as investors rotated out of speculative space names after the company's blockbuster IPO. "A Tesla-SpaceX combination carries an 80% to 90% probability in 2027 after SpaceX completes its IPO process," Dan Ives, an analyst, said. Oppenheimer called a deal plausible but not near-term. Rocket Lab fell 36% and AST SpaceMobile 34% over the same window, while Planet Labs dropped 38% and Intuitive Machines 43%. Virgin Galactic held up better, down 13%. The Procure Space ETF declined 14% in a month to $43.79, and the Tema Space Innovators ETF fell 28.8% to $21.62. None of the major space stocks trade at positive trailing 12-month earnings, leaving valuations reliant on growth narratives rather than current profitability. Investors face a sector reset with no margin of safety from swapping one speculative name for another. **The selloff traces to the IPO** SpaceX began trading on the Nasdaq under the ticker SPCX on June 13 after a $75 billion IPO, the largest of the year. The debut sent rival space company stocks lower as investors consolidated exposure into the category leader, and the pullback has since spread across the group. The correlation is not accidental. These companies operate in a capital-intensive, pre-profitability phase where funding conditions drive price action more than near-term earnings. Planet Labs and Intuitive Machines both posted strong revenue growth in recent quarters, yet both stocks are down more than 35% in a month. The selloff has unfolded while the S&P 500 held near 7,483 and the Nasdaq 100 at 28,191, showing the move is sector-specific rather than a broad market decline. All the major names share similar execution risks: launch reliability, customer concentration, regulatory hurdles, and the need to scale operations while burning cash. Planet Labs and Intuitive Machines carry additional exposure to government contracts, which can provide stability but also introduce budget and timing risks. **The Tesla-SpaceX wild card** Some investors see a potential Tesla-SpaceX merger as a value unlock for SpaceX shareholders. Prediction markets have assigned odds ranging from 33% to 74% for a deal before May 2027, depending on the survey. But a merger is not guaranteed, and even if it happens, the terms and timing remain uncertain, so investors should not count on it as a hedge against near-term volatility. The Procure Space ETF, with a beta of 1.81, offers a basket of space-related names including SpaceX, Rocket Lab, and other satellite and launch providers. But the fund is concentrated and carries similar risks to the individual stocks, as its 14% one-month decline shows. For investors, the takeaway is to keep position sizes modest in space stocks and watch for signs of consistent profitability or positive free cash flow, which would provide a firmer foundation for valuations. Until then, the sector remains highly speculative, and a cautious approach is justified even for those who believe in the long-term opportunity. This article is for informational purposes only and does not constitute investment advice.