AI Quarterly Earnings | Implied Volatility AI earnings season is accelerating - TEL already beat this morning, and we have five more prints landing by tomorrow night. @KobeissiLetter mapped the week + we priced it below👇 𝗧𝗢𝗗𝗔𝗬 ○ $TEL | Earnings Beat · $5.16B revenue vs. $5.01B est · $2.94 adj EPS vs. $2.85 est · Orders $5.7B, up 27% Y/Y - growing twice as fast as sales · Q4 guidance above revenue and EPS. The AI read-through delivered: Industrial data-center connector business grew 21.9%. ○ $TXN | AH Close · Options price a ±9.3% move · Analysts forecast $5.24B revenue / $1.95 EPS · 23 revenue estimate hikes in three months. ○ $SKHY | First Q2 report as US listing · Options price a ±10.4% move · Analysts forecast ~$52B revenue, up ~260% · HBM revenue seen at $6.1B, up 32% - the "slow" segment. The entire print is one question: HBM4 timing, after mass production slipped to Q3. We get numbers land now and the call on July 29th. 𝗧𝗢𝗠𝗢𝗥𝗥𝗢𝗪 ○ $STM | Pre-market (EU) · Options price a ±12.5% move · Analysts forecast $3.45B revenue / $0.26 EPS, up ~25% · Gross margin projected ~34.8% — the number that decides the day. ○ $INTC | AH Close · Options price a ±12.8% move · Analysts forecast $14.4B revenue / $0.22 EPS · 18A yields reportedly ~85%, up from 65% last quarter. 𝗧𝗢𝗡𝗜𝗚𝗛𝗧 ○ $GOOGL | AH Close · Kicks off hyperscaler capex season · Options price a ±6.1% move · Analysts forecast ~$118B revenue / ~$2.89 EPS · FY26 capex guide sits at $180–190B; Cloud grew 63% last quarter on a record $462B backlog. The supply chain has spent two weeks telling us the orders are real. Tonight, Google starts telling us who pays for them.