Holy Ship FedEx…

It’s another day, which means investors and traders were buying anything in the semiconductor space that isn’t tied down. Let’s see what you missed. 👇

First up, chip-equipment company Applied Materials soared to new all-time highs after citing “artificial intelligence” momentum during its earnings call. Adjusted earnings per share and revenues both topped expectations, while its current-quarter expectations also beat estimates. 🏭

Investor relations departments are the silent heroes of a public company, receiving little recognition for the critical role they play. When they do receive a lot of attention, it’s generally not for good reason. That’s unfortunately what Lyft’s team is finding out today. 😵‍💫

After the bell, ridesharing company Lyft reported fourth-quarter results that were good, not great. But the stock immediately shot up and notched as high as a 60% gain before anyone realized what happened. Did the company just invent a cure for rare diseases? Are they pivoting to crypto or semiconductors? What was the cause of this?

One of the core themes we’ve been discussing for a long time is the “ad-ification” of everything. No matter where you go or what you do, you’re likely being targeted by some form of advertising. And the reason why is because it’s such a high-margin, profitable business opportunity. 🎯

As a result, it’s no surprise to see America’s largest employer and big-box retailer, Walmart, leaning heavily into that narrative during its earnings call. 

As we’ve discussed, speculation continues to spread to all corners of the market. Even those areas that have been left for dead for quite some time. Today’s example of this is Jumia Technologies, the “Amazon of Africa” that caught wildfire early in its life before the gravity of reality brought it back down to earth. 🛒

The company reported reducing its losses by over 90% in the fourth quarter as it focused on restoring order and gross merchandise value (GMV) growth. Like other struggling companies, it cut costs significantly and leveraged lower tax provisions to help drive the earnings improvement.