Intuit deep dive
Intuit’s investment case turns on whether AI strengthens or weakens QuickBooks and TurboTax moats across SMB accounting, payroll, payments…
Wednesday, June 17
Wednesday, June 17, 2026
Everything we published on this day.
7 stories
Intuit deep dive
Intuit’s QuickBooks, TurboTax and SMB ecosystem face AI-native challengers, tax-filing disruption and pressure on payroll and payments…
The Great RPO Illusion: Microsoft, OpenAI, Nvidia, and the Neoclouds
OpenAI commitments can be counted as Microsoft RPO, Nvidia revenue and neocloud backlog, layering claims on the same underlying demand.
ZM · long Zoom Communications INC
Zoom Communications (ZM) is presented as a long investment idea.
Broken Moats on X
$BSX ?? flat over the past 5 years. Can point to slowing growth from very elevated levels as farapulse and watchman have larger bases, some competition entering these spaces, glp1 on the margin to case loads over time, new inhibitors that could be coming from Lilly, novo, but at current $ sure seems like a lot is baked in at current prices. Innovative cardio franchise that has: Revenue has effectively doubled - predominately from farapulse and watchman (not m&a) Operating income 1.8B to 4.1B EBIT - $1.4B to 4.1B 3.5x on EPS (.69 to $2.40/share current) gross, operating, net, ebit, ebitda margins all expanded over that timeframe FCF more than 2x, opcf 2.5x The difference is you get to buy it at the same share price today, shares outstanding are virtually flat. Perhaps the defensive nature of medtech is sold in the aggressive risk on market we are in but growth still solid here with dividend and margin of safety versus other areas certainly seems worth a look, as is the rest of medtech as a place to hunt for value to wait until the market rotates back
Broken Moats on X
Pretty incredible market sells off software again aggressively at the same time ramping up public private credit exposed names like $MFC, $ARES, $FG (CEO left suddenly yesterday) all because they ride alongside the aggressive buying in money center banks in financial etc flows ($JPM up 14% in June). Seems like there needs to be some dispersion in public private credit and software - one side at current prices has to be wrong, guessing private credit lower is how the dispersion resolves itself
Timyan Bank Alert on X
Another Dallas bank not named North Dallas $NODB sold today. @ndbttx MidFirst Bank to Acquire Dallas Capital Bank, Accelerating Growth - https://t.co/Q7pCvEvvUh
