Only the Servers Got Paid This Week. Every Other AI Beat Sold Off.| Ep. 55

Dell grew revenue 58% to a record $47 billion, raised its full year earnings guide to $25.50 a share, and closed up 16%. Palo Alto Networks grew next generation security ARR 63%, beat on every line, and closed down 9%. Daniel Newman and Shay Boloor spend episode 55, a Wednesday recording, separating the strong businesses from the strong stocks: Dell, Palo Alto, MongoDB, Credo, Astera Labs, and the bar Broadcom and Snowflake have to clear after the close. The guys open on Dell: $60.9 billion of AI server orders, a $95 billion backlog, AI factory customers up from 5,000 to 6,500 with almost all of that growth from enterprises, and Signal65's new Pinnacle benchmark on the cost of a correct outcome. Then Palo Alto, which grew NGS ARR 63% to $9.1 billion and still sold off after walking in at 90x earnings against a 50 to 55x historical mean and a 76x COVID high. MongoDB grew Atlas 29% for the fifth straight quarter and fell 13% on a guide that implies deceleration, with Daniel pulling the ETR spending data live. Credo is where the hosts part ways: revenue grew 115%, the stock fell 20% on deceleration and customer concentration, Shay added 25% to a top five position at 22x forward earnings, and Daniel counters with Apple as the bellwether for what a hyperscaler eventually does to a dependent supplier. The preview block covers the one Broadcom number that matters, the $100 billion AI figure, Snowflake at 70x free cash flow, and HPE's enterprise led quarter. The Q&A covers Aehr Test Systems, the packaging trade in TSMC, Amkor and Intel, memory staying tight through 2030 and Micron vs SK Hynix, Shay's 20% gross margin rule, and the 10 year yield keeping the data center trade on pause until the war is over. Watch the full episode with chapters on YouTube: https://youtu.be/JrTi8Cv-YeQ The show is live every Friday. Bring your tickers and questions to the chat and the guys will take them on air.