Latest / MPC Markets Morning Call
26th February 2026 – Tech stocks lead the market higher as Agentic AI concerns turn into “Buy the Dip”
Nvidia’s strong earnings have reignited the AI trade and helped drive fresh record highs on the ASX, while markets rotate back into tech, commodities and critical metals amid lingering geopolitical risk and evolving views on the AI threat to SaaS incumbents.
Nvidia beat on all key metrics with upbeat guidance, supporting the AI narrative and seeing initial 4% aftermarket strength before consolidating and grinding higher.
The “SaaSpocalypse” blanket selling is being challenged, with MPC’s updated AI threat-to-SaaS model flagging wide moats and defensible niches across ~45 US and ASX names…
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