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MercadoLibre 1Q26 and the Cost of Being Right
The commerce thesis worked. The stock did not. Q1 explains why.
May 8
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Kristal Lens by Kristal.AI
1
ARM’s 4QFY26 Earnings: AI Upside, Platform Risk
Arm’s AGI CPU strategy is not just a response to agentic AI demand. It is Rene Haas’s deliberate trade of neutrality for value capture, and the next…
May 7
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Kristal Lens by Kristal.AI
1
Doordash 1Q26 Earnings: The Two Businesses Inside
Q1 wasn’t about the revenue miss. It was about whether grocery can turn DoorDash from a logistics company into a retail media platform.
May 7
1
Uber Q1 2026: The Missing Half
Q1 2026 didn’t just prove Uber can survive autonomous vehicles. It showed why locked-in demand may be the real moat.
May 7
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Kristal Lens by Kristal.AI
1
1
Palantir 1Q26 Earnings: The Line Shaft Comes Out
This was not just another AI beat. It was evidence that the Ontology is moving from a coordination layer between enterprise systems to the architecture…
May 5
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Kristal Lens by Kristal.AI
7
1
KLA 3QFY26 Earnings: The Complexity Tax Gets More Real
KLA 3QFY26 Earnings: The Complexity Tax Gets More Real
May 4
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Kristal Lens by Kristal.AI
1
SanDisk 3QFY26 Earnings: From Thesis to Test
The warm-storage thesis has been validated. The next question is whether contracts can turn a violent NAND upcycle into durable earnings power.
May 3
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Kristal Lens by Kristal.AI
2
April 2026
Microsoft 3QFY26 Earnings: Is AI a CIO Cycle or a User Cycle?
Microsoft's bull case is that enterprise context becomes the new OS. Microsoft's bear case is that the agent becomes the new OS.
Apr 30
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Kristal Lens by Kristal.AI
3
1
Amazon 1Q26: The Foundry Answers Back
The Engine Room is still funding the AI buildout. Q1 showed the Foundry has real demand. Now Amazon has to prove the returns.
Apr 30
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Kristal Lens by Kristal.AI
4
1
Alphabet’s 1Q26: Four Markets, One Grid
The grid is no longer the thesis. It is the shared production function.
Apr 30
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Kristal Lens by Kristal.AI
3
1
Meta's 1Q26 Earnings: AI Tax
The ad business is already proving the value of AI. The problem is that the price of admission keeps going up.
Apr 30
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Kristal Lens by Kristal.AI
2
1
Booking 1Q26 Earnings: The Stack Beneath the Trip
AI may own travel discovery. Booking is betting the money is in execution. Q1 showed both why that bet matters and why the market is not ready to…
Apr 29
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Kristal Lens by Kristal.AI
1
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