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Are Big Tech Earnings Better Than They Look
Big Tech earnings have helped push stocks higher, but some of those profits are coming from rising private company valuations and financing arrangements that may not reflect the strength of the underlying businesses.
Chuck Zodda and Mike Armstrong examine whether the latest earnings boom is partly an accounting mirage, how future depreciation from massive AI infrastructure spending could pressure profits, and how much new revenue hyperscalers may need to justify more than $1 trillion in annual capital expenditures. They also discuss why the home improvement slump may continue, how Walmart has…
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