Jul. 31 at 9:48 AM
$DRAM is a 5-year-refresh cost If not longer. What's been apparent is building like homes, the cost of inflation is crushing the hyperscalers. new data centers build expenses being the engine. Memory and hardware is cyclical and for wall street conveniently vs
$VIX inflation builder costs rising from the Iran war and among other things like the costs from trumps tarrifs.
$AMZN capex raised to ~
$220B (from
$200B) FCF -
$7.6B TTM (-142% swing) "still not enough capacity due to inflation costs."
$GOOGL capex raised to
$195–205B (from
$180–190B) FCF -
$5.9B for the quarter "build-constrained," 2027 to "increase significantly."
$SPY will reprice much lower
