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Wednesday, November 11, 2026

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ON THE TAPE with Guy Adami

Guy Adami discusses Nvidia, Anthropic's IPO prospects, energy, gold and the AI trade.

NVDA $4.2T
WHAT ARE WE DOING? “Contrarians At The Gate” 4 clicks

From X

@convequity

Convequity on X

We think Amazon ($AMZN) blocks Meta's ($META) Muse shopping agent partly to protect its advertising business, while Shopify ($SHOP) welcomes it to earn payment fees. Amazon cites authorization and security concerns. We also see an advertising business to protect. Amazon earned $68.6 billion in advertising revenue in 2025, including payments from sellers to place their products prominently in front of shoppers. An agent that selects products without taking customers through those sponsored listings could reduce sellers' willingness to pay for them. Amazon still handles payment and delivery, which gives it bargaining power even when an agent chooses the product and places the order. Shopify welcomes Muse through Shop Pay. It can keep earning payment-processing fees when agents complete purchases through its systems, and it has no comparable advertising business to defend. We think shopping agents could favor merchants whose products stand out for quality or features over merchants whose sales depend heavily on paid placement. That could give independent brands another way to reach customers, which would benefit Shopify as more purchases pass through its merchants' stores. Agents and established platforms could still agree to share advertising revenue. We are watching whether agents improve product discovery or simply become another place where sellers pay to be recommended.
@convequity 1 click

Convequity on X

The AI memory squeeze is hitting Android chip suppliers harder than the phone market. Counterpoint says global smartphone shipments fell 20% in the third quarter from a year earlier, the lowest third quarter since 2012. AI data centres are taking more of the memory supply, and higher DRAM and NAND prices left most phone makers short. 1. The fall is in cheaper phones. Xiaomi's shipments fell more than 30%, and OPPO's and vivo's more than 20%, as they cut low-priced models and raised prices. Samsung's fell 3%, and Apple ($AAPL) reached a 22% share, its first third quarter above 20%. 2. Chip suppliers fell further than phone makers. In the second quarter, phone shipments fell 21%, while MediaTek's and Qualcomm's ($QCOM) phone chip shipments each fell more than 30%, per Counterpoint. 3. Qualcomm is exposed too. Counterpoint ties MediaTek's decline to its entry-level and mainstream chips, and Qualcomm's to its Snapdragon 600 and 400 lines. Qualcomm also lost some premium volume as Samsung used its own Exynos 2600 chip in base Galaxy S26 models in some regions. Samsung's Exynos shipments rose in the second quarter. The phone maker that held up best is making more of its own chips. The third-quarter phone data shows the same pattern, so I expect MediaTek's and Qualcomm's phone chip volumes to fall faster than phone shipments again when they report the quarter.

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Cat-Scratch Fervo

Fervo Energy raised $2 billion in its May IPO, then fell nearly 70% below issue price after a Morpheus short report, despite targeting 1 GW…

FRVO $3.8B
Doomberg 4 clicks

Sea Ltd Earnings Update: Q3 2026

Sea Ltd reported Q3 2026 revenue of $8.6 billion, up 43.4% year over year, while net income rose 34.0%.

SE $45B
SixSigmaCapital: Navigating the Financial Markets 5 clicks
OSW · short

One Spa World

OneSpaWorld (OSW) faces about 37% downside as its valuation requires unattainable growth in average revenue per customer after major-market…

OSW $3.1B
Value Investors Club

Airbnb 3Q26: Business Update

Airbnb’s 3Q26 revenue rose 19% to $4.9 billion as nights and seats grew 16%, with app bookings up 29% and Reserve Now Pay Later adding…

ABNB $108B
Speedwell Memos 2 clicks

Research update

S&P Global research will assess Platts, Kensho and ratings growth; Benefit Systems’ 72% YTD rally changed its valuation, while Netflix and…

SPGI $138BICE $101B
Global Outperformers 3 clicks

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