𝗔𝗜 𝗘𝗮𝗿𝗻𝗶𝗻𝗴𝘀 𝗚𝗮𝘂𝗻𝘁𝗹𝗲𝘁 | 𝗪𝗲𝗲𝗸 𝟮 Last week, $TSM + $ASML beat and raised, but the market sold the news. This week we hear from demand: @StockSavvyShay's chart shows hyperscaler FCF compounding toward ~$650B, and the first capex print lands Wednesday. 𝗪𝗲𝗱 𝗝𝘂𝗹 𝟮𝟮 | 𝗣𝗶𝘃𝗼𝘁 𝗗𝗮𝘆 ○ $GOOGL: does hyperscaler capex validate TSMC's new $60–64B? ○ $SKHY: memory check on the AI build-out ○ $TXN: the analog tell on everything that isn't AI 𝗧𝗵𝘂 𝗝𝘂𝗹 𝟮𝟯 | 𝗙𝗼𝘂𝗻𝗱𝗿𝘆 𝗥𝗲𝗮𝗹𝗶𝘁𝘆 𝗖𝗵𝗲𝗰𝗸 ○ $INTC: foundry ambitions vs. foundry economics ○ $KLAC: equipment chain print with→ $LRCX Jul 29 → $AMAT Aug 13. 𝗝𝘂𝗹 𝟮𝟳–𝟯𝟭 | 𝗘𝗮𝗿𝗻𝗶𝗻𝗴𝘀 × 𝗠𝗮𝗰𝗿𝗼 𝗖𝗼𝗹𝗹𝗶𝘀𝗶𝗼𝗻 ○ 13 prints include: $LRCX $QCOM $ARM ○ Critical capex prints: $MSFT $META $AMZN ○ FOMC decision Jul 28–29: blackout currently ○ Q2 GDP + June PCE land Jul 30 If capex confirms what supply is forecasting while the Fed stays out of the way, sell-the-news bears could be offsides. Which print moves the tape this week?