Beats / 7 priced constituents
ai
An equal-weight index of the priced names on this beat, rebuilt every Friday from the constituents that were actually in it.
206.5+0.5%base 100 · to 2026-10-02
This week
Up most
- Oracle+3.8%
- CoreWeave+2.3%
- Amazon (AWS)+0.7%
- Microsoft+0.3%
- Alphabet-0.1%
Down most
- Meta Platforms-3.1%
- Palantir-0.5%
- Alphabet-0.1%
- Microsoft+0.3%
- Amazon (AWS)+0.7%
What happened
| Date | Type | What happened | Source |
|---|---|---|---|
| 2026-09-11 | editorial note | Verdict changed: none (no verdict, no call this pass) → The Q1 FY27 print settles the two questions the July dossier could not — and both settle against the received narrative in opposite directions.…Before (deep-dive-2026-07-25-refresh.md): none (no verdict, no call this pass) After (deep-dive-2026-09-11.md): The Q1 FY27 print settles the two questions the July dossier could not — and both settle against the received narrative in opposite directions. The backlog is NOT lengthening (the near-term conversion share has ticked UP for three straight quarters; the lengthening was a single step-change in Q1 FY26 when the mega-contracts landed, not a trend), while the FUNDING has decisively changed character: $11.4B of the record $23.1B operating cash flow is customer credit Oracle itself books interest expense on, and capex at 1.48x revenue runs 3-5.5x every hyperscaler even after the finance-lease adjustment that usually closes such gaps. Oracle is not out-spending its peers as a share of revenue; it is spending a different KIND of money. | dossier |
Dated ahead
| Date | Company | Period | Firmness |
|---|---|---|---|
| 2026-10-29 | Alphabet GOOGL | 2026-Q3 | expected |
| 2026-10-29 | Meta Platforms META | 2026-Q3 | expected |
| 2026-10-29 | Microsoft MSFT | 2026-Q3 | expected |
| 2026-11-02 | Amazon (AWS) AMZN | 2026-Q3 | expected |
| 2026-11-03 | Palantir PLTR | 2026-Q3 | expected |
| 2026-11-11 | CoreWeave CRWV | 2026-Q3 | expected |