𝗚𝗮𝘂𝗻𝘁𝗹𝗲𝘁 𝗩𝗲𝗿𝗱𝗶𝗰𝘁𝘀 | 𝗛𝘆𝗽𝗲𝗿𝘀𝗰𝗮𝗹𝗲𝗿𝘀 + 𝗙𝗲𝗱 Yesterday's playbook asked for two confirmations. • The Fed left rates unchanged. • $MSFT validated the buildout. • $META showed what it costs - one verdict left. 🟢𝗝𝘂𝗹𝘆 𝗙𝗢𝗠𝗖 | Hold, As Scripted ○ 3.50–3.75%, fifth straight hold ○ 3 hawkish dissents "no soft inflation target" ○ Discount rate stops rising; duration keeps its bid 🟢𝗠𝗦𝗙𝗧 | Capex Validated (+9% AH) ○ EPS $4.74 vs $4.24 est ○ Azure guide: 39–40% growth ○ FY27 capex: $255–260B vs ~$220B expected ○ $260B DRAM/HBM tailwind 🔴𝗠𝗘𝗧𝗔 | The Bill Arrives (−7% AH) ○ Revenue beat: $60.8B, +28% Y/Y ○ EPS $6.18 vs ~$7.1 est (slight miss) ○ Q2 capex $31.1B, ~2x Y/Y; ○ Full-year floor raised to $130–145B ○ Same AI buildout confirmation 🔶𝗧𝗼𝗱𝗮𝘆 | $𝗔𝗠𝗭𝗡 Breaks Tie (Q2 Earnings) ○ Est: EPS $1.82 · revenue $196.9B ○ AWS ~$40.5B (last 3 quarters has grown) ○ AWS acceleration 20% → 24% → 28% ○ Capex Guide: $200B for 2026 ○ A raise = three hyperscalers, one message 𝗦𝗰𝗼𝗿𝗲𝗰𝗮𝗿𝗱: 𝟭𝟲 𝗽𝗿𝗶𝗻𝘁𝘀, 𝟭𝟰 𝗯𝗲𝗮𝘁𝘀. MSFT says the demand is real. META says it isn't free. And with Seoul weighing a short-selling ban and Leopold's $20B fund passing the hat, the forced sellers are showing their hands - that's what blood in the streets looks like.