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Lumentum 1QFY27: The Boundary Changes Hands
The optical thesis worked. The merger asks whether the next advantage belongs to the scarce component or the company designing the whole system.
11 hrs ago
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Kristal Lens by Kristal.AI
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Uber 3Q26: Worth Choosing
Uber is getting better at using expensive capacity. The harder question is whether customers or their agents have a reason to choose Uber specifically.
15 hrs ago
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Kristal Lens by Kristal.AI
1
Arm 2QFY27: Paid in the Wrong Currency
Arm is winning more of the architecture. The problem is that more of the value is arriving as licensing and silicon rather than royalties.
Nov 5
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Kristal Lens by Kristal.AI
2
1
MercadoLibre 3Q26: The Margin Dial Has a Second Owner
MercadoLibre is still creating more economic value. Competition is deciding how much of it shareholders get to keep.
Nov 5
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Kristal Lens by Kristal.AI
2
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Toast 3Q26: The Invisible Manager's First Job Was at Toast
AI is already lowering Toast’s own costs. The larger opportunity is to improve restaurant economics and keep part of the value created.
Nov 5
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Kristal Lens by Kristal.AI
1
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Booking 3Q26: The Price of Second Booking
AI may make Booking more useful while making the customer relationship less certain. Genius is the mechanism that could bridge the two.
Nov 5
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Kristal Lens by Kristal.AI
1
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Palantir 3Q26: The Contract Is Not the Moat
Shorter commitments weaken visibility. Deeper operational dependence may matter more if it converts into sustained spending.
Nov 3
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Kristal Lens by Kristal.AI
2
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October 2026
Intel 3Q26 Earnings: The Wrong Factory Is Full
Intel has demand again. The problem is that the demand is not filling the factories it most needs to justify.
Oct 30
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Kristal Lens by Kristal.AI
2
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Sandisk 1QFY27: The Floor Has a Price
Sandisk is trading some upside for durability. Now the contracts must prove how long that durability lasts.
Oct 30
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Kristal Lens by Kristal.AI
1
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Amazon 3Q26 Earnings: The Price of 40% Growth
AWS’s earnings opportunity is getting larger. So is the capital required to capture it.
Oct 30
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Kristal Lens by Kristal.AI
3
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KLA 1QFY27 Earnings: The Tax Must Rise
The equipment market is getting bigger. KLA still must prove its share of each equipment dollar rises with it.
Oct 29
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Kristal Lens by Kristal.AI
2
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ServiceNow 3Q26 Earnings: Permission to Work
ServiceNow wants to govern enterprise AI first, then monetize the work those controls make possible.
Oct 29
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Kristal Lens by Kristal.AI
1
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