James E. Thorne(@DrJStrategy):Narrative follows price. Expect Wall St narrative on the AI bottleneck trade to change. New narrative: peak earnings are in. You were warned. TSMC delivered record Q1 2026 results: revenue up ~40%, profit up ~58%, margins above 50%, driven by AI/HPC demand. Yet the stock reaction was Muted. Reflecting stretched valuation and geopolitical risk, and a growing consensus that earnings growth is near its peak, so no one should be surprised the market didn’t reward the beat.

James E. Thorne

@DrJStrategy

Chief Market Strategist @WellingtonAltus. PhD Econ. Astute, observations and conclusions. Personal views. Not investment advice. Please do your own research.

가입 November 2019

31 팔로잉 중 117.9K 팬

James E. Thorne@DrJStrategy

2026.07.16 13:01

Narrative follows price. Expect Wall St narrative on the AI bottleneck trade to change. New narrative: peak earnings are in. You were warned. TSMC delivered record Q1 2026 results: revenue up ~40%, profit up ~58%, margins above 50%, driven by AI/HPC demand. Yet the stock reaction was Muted. Reflecting stretched valuation and geopolitical risk, and a growing consensus that earnings growth is near its peak, so no one should be surprised the market didn’t reward the beat.