Keith Lambert

20 years investing own💲📈:🚶‍♂️🚴‍♂️ 🍷 ⛳ ⛷️ 🏋️‍♂️ Opinions are my own

[James E. Thorne @DrJStrategy]

Let’s be honest

The AI Earnings Super‑Cycle Has Arrived

First Dell and now HPE are telling investors the same thing: the AI earnings super‑cycle is no longer theoretical, it has arrived, and S&P 500 numbers are still too low. HPE is now guiding fiscal 2026 non‑GAAP EPS to roughly 3.35–3.45 dollars and free cash flow to at least 3.5 billion dollars—levels it had previously targeted for 2028—on the back of nearly 30–plus percent revenue growth and more than 70 percent networking growth this year. Dell, meanwhile, has turned into an AI systems pure play, with AI‑optimized server revenue exploding, a multi‑year backlog measured in tens of billions, and management now talking about AI server revenue running toward 50 billion dollars as data‑center capex accelerates rather than fades.

This is what an earnings super‑cycle looks like in practice: the core infrastructure providers are pulling multi‑year profit curves forward because AI demand is compounding from a high base, not rolling over. Scarcity in GPUs, power, networking, and physical capacity means the constraint is supply, not demand, and that in turn is forcing customers into larger, longer‑dated contracts to secure AI infrastructure years out. Ignore the noise about quarterly “AI capex deceleration.” First Dell, now HPE: the message is that the AI build‑out is accelerating, hardening into long‑term commitments, and dragging index‑level earnings power higher and faster than the current S&P 500 forecasts are willing to admit.

$Dell $HPE $NVDA

[Keith Lambert @KeithMLambert2]

💯 true, but don't forget about Jag.. Trudeau partner in the acopolypse.

[Kevin O'Leary aka Mr. Wonderful @kevinolearytv]

One of the three horsemen of economic destruction to the #Canadian economy. He along with @JustinTrudeau and @cafreeland brought the country’s GDP to 0. It took them a decade but they did it. An extraordinary achievement!

[Keith Lambert @KeithMLambert2]

🤔

[Eric Nuttall @ericnuttall]

What if we are being misinformed in order to keep a lid on the oil price? What if talks are actually NOT going well and a peace treaty is NOT in fact imminent? What if there is no actual "cease fire" given ongoing kinetic action by both sides? What if Exxon and Chevron are right and working inventory levels are about to be breached in the coming weeks resulting in a price spike? What if the Strait does NOT in fact open, while everyone believes it will because "it has to"? What then???

[Keith Lambert @KeithMLambert2]

@FouldsIain With respect, Carney presents himself as a fit to lean individual. He does not appear to be a glutton. So who's ripping us off?

[Kris Eriksen @KEriksenV2]

The next Premier of British Columbia.

Surreal….🕺💃🥳🎉

[Jeffrey Rath @JeffreyRWRath]

My US sources told me that President Trump was going to offer Trudeau a zero tariff reciprocal free trade deal.

Instead of talking to President Trump as a respectful adult Justine took it upon himself to lecture him for almost two hours on how to be a better feminist.

Since then Carney has raised the spectre of war with the US over Greenland and publicly insulted President Trump at Davos.

Now Carney wants to “Make America Great Again”, after touting the New World Order and his “Strategic Alliance” with Communist China.

These two morons have destroyed our most valuable trading relationship and can’t understand why Canada is the only G7 nation in a recession.

[Shareaware Canada @ShareawareCdn]

YAHOOOOOO!!!! 🎉🎉🥳KLF is The Winner!

971.34 10.5% Milobar
1193.27 Yuri Fulmer
1865.82 Ian Black
2374.14 25.8% Caroline Elliot
2806.42 30.05% Kerry Lynn Findlay

[Keith Lambert @KeithMLambert2]

Champagne has no idea. He is unqualified as a FM. Just like Freeland was unqualified.

[Ryan Gerritsen🇨🇦🇳🇱 @ryangerritsen]

Just a month ago our Minister of Finance Philippe Champagne stood in the HOC & told Canadians how great our economy is.
Fast forward a month & the reality is our GDP has completely stalled & we are in a recession.
These individuals are lying to Canadians.

[Eric Nuttall @ericnuttall]

Most asymmetric oil trade since the COVID lows of April 2020??? Total and complete market apathy while both Exxon and Chevron say we are IMMINENTLY facing an oil price spike/shock.

[James E. Thorne @DrJStrategy]

Food for thought.

This is what super cycle looks like!

Dell’s earnings confirm a super cycle and the market is still mispricing its consequences.

The $ 8B revenue beat, the 25 per cent increase to full-year earnings guidance, and the 40 per cent surge in the share price are surface-level reactions.

The real signal is structural: customers are committing to 3, 4, and 5 yr AI infrastructure buildouts.

This is not a spending cycle. It is a capital regime shift.

Capital expenditure is no longer cyclical or discretionary. It is being locked in years ahead, redirected toward AI compute, storage, and networking, and secured through multi-year commitments. Dell’s backlog is not a cushion, it is a forward map of demand that has already been decided.

That is the mechanism of a supercycle. Demand is pulled forward, supply is constrained, and time collapses. What would have been sequential, phased investment is now concurrent and global. The buildout is happening everywhere, all at once.

This has direct implications for earnings. When capacity is pre-booked and utilization is structurally high, revenue visibility extends and operating leverage compounds. Margins expand not through efficiency, but through scarcity. The result is not incremental earnings growth, but step-change acceleration.

The market is still anchoring to a world where earnings mean-revert and multiples compress under higher rates. That framework no longer holds. A supercycle driven by productivity-enhancing infrastructure lifts both the numerator and the denominator: earnings expand while multiples re-rate to reflect durability and visibility.

Dell’s customers are making that case explicit. They are underwriting years of demand today because AI is not optional capex, it is core infrastructure.

That shift propagates through the entire stack: semiconductors, networking, power, and systems integration. It ultimately resolves at the index level.

S&P 500 earnings at $400 for 2027 are not optimistic. They are mechanical. The path to $600 is not speculative. It is already being contracted.

The market continues to treat AI as a theme. Dell’s order book shows it is an economic foundation.

Supercycles are only obvious in hindsight. This one is being booked in advance.

Ignore the noise. Doomers and MSM called the end of the cycle last September. They are living in a world that no longer exists.

Have a nice day.

[Keith Lambert @KeithMLambert2]

Carney is figuring out that Trudeau entourage of idiot cabinet ministers is a liability. He is slowly but surely weeding them out.

[Lianne Rood, M.P. Middlesex-London @Lianne_Rood]

Prime Minister Mark Carney is in New York City today to meet with a 'series of institutions that are either heavily invested in Canada [or] interested in investing in Canada'.

Dominic Leblanc, Minister for Canada-U.S. Trade, is not with him.

Melanie Joly, Minister of Industry, is not with him.

No industry leaders, no trade representatives.

He is there alone.

He doesn't have a high respect for the intelligence of Canadians, does he?

#brookfield #newyorkcity #noethics #liberals

[Newt Gingrich @newtgingrich]

After spending this week reviewing the Iranian war I am now convinced President Trump is on the edge of an historic victory. The real breakthrough for me came as I reviewed President Trump’s decisions and maneuvers not from the standpoint of American unilateralism but from the standpoint of the leader of a remarkable historic coalition, the largest coalition ever put together in the modern Middle East. Everyone understands that Israel is an important ally. What is little discussed is the depth of support from the United Arab Emirates, Qatar, Bahrain, Saudi Arabia and other countries in the region. It has to be sobering for the Iranian dictatorship to realize that it does not have a single ally willing to challenge the American naval blockade. Slowly, gradually, timidly, our European allies are lining up to help with the Persian Gulf and the Strait of Hormuz. A great deal of President Trump’s maneuvers against Iran make sense once he is seen as a coalition leader and not just as a unilateral American President. I spent a lot of the last couple weeks reviewing kinetic options including wining the battle of the Persian Gulf and the Strait of Hormuz and if necessary using the shocking and shattering level of force President Nixon and Secretary Kissinger used against Hanoi and Haiphong in Christmas 1972 (which both leaders believed convinced the North Vietnamese to agree to a truce and the freeing of American POWs). If this were a unilateral American campaign I could enthusiastically support a more aggressive kinetic campaign. However it is also clear it would shatter the coalition because our Arab allies are convinced Iran could still do enormous damage to their oil fields and infrastructure. Coalitions are inherently slower than unilateral campaigns. However coalitions ultimately bring vastly more power to the fight. I am as frustrated as everyone else by the pace of talking with the dictatorship but having reviewed the correlation of forces and the options available to the coalition on one side and the Iranian religiously motivated dictatorship on the other I am prepared to assert that President Trump’s coalition leadership (something almost none of his critics want to acknowledge) is within reach of an enormous historic victory. And if the Iranian dictatorship ultimately proves it is hopelessly committed to a suicidal position there will be plenty of time for a kinetic campaign of enormous power and effectiveness. Either way we are on the edge of an astonishing victory for our values and for a safer Middle East.

[Keith Lambert @KeithMLambert2]

Trudeau is a fraud.

[Tom Quiggin @TomTSEC]

Here is a picture of a (then) sitting G7 Prime Minister looking at a septic tank field.

[wealthmoose @wealthmoose]

🇨🇦 BREAKING: Supreme Court
of Canada rules Aboriginal title cannot be declared over private land.

Why this matters: 👇

📍 Provides legal certainty for private property owners

📍 Directly impacts the Cowichan case in BC

📍 Federal government confirms
the ruling will have national implications

📍 Clarifies the boundary between Crown land claims and private ownership Property rights just got a significant legal defence. 🇨🇦

Source: Supreme Court of Canada

#CdnPoli #SupremeCourt
#AboriginalTitle #PropertyRights

[Keith Lambert @KeithMLambert2]

51st state not such a bad idea? Maybe?

[Mike 🇨🇦🇵🇸 @locomorro4]

I've got a bad feeling. A really bad feeling.

[Keith Lambert @KeithMLambert2]

To Carney's possible credit: Working his way out of the Trudeau quagmire. Maybe...

[Tablesalt 🇨🇦🇺🇸 @Tablesalt13]

‼️BREAKING

Carney does a COMPLETE 180 with the USA

Praises America, seeks a new partnership, wants to make "America Great Again"

he's also gutting his surveillance bills.... WHAT IS GOING ON?!?

[Keith Lambert @KeithMLambert2]

Elbows down today. Tomorrow?

[Melissa Lantsman @MelissaLantsman]

GPS Recalculating.....

Canada will never be part of the US
The old relationship is over
US is no longer a reliable partner
We must dramatically reduce reliance on the US
Flies to Washington, meets Trump at the White House
Our energy dependence, once a strength, is now a weakness
We must double our non-US exports
Negotiating with the US from weakness is not sovereignty, it's the performance of sovereignty
Middle powers must build strategic autonomy against great powers
Trade missions to India, Japan, Australia
Our close ties to America have become our weaknesses
The US has changed and we must respond
Canada Strong will help make America great again

TODAY: We need a new partnership with the US, Make America Great Again.

Everyone still following?

https://t.co/DM7QGdalhI

[James E. Thorne @DrJStrategy]

For the record.

Mark Carney’s address to the Economic Club of New York was a disciplined, strategically framed intervention that should resonate with business leaders on both sides of the border.

In tone and content, it was exactly the kind of message markets look for from a G7 head of government: pro‑growth, geopolitically literate, and grounded in concrete avenues for investment and partnership.

Carney’s central assertion – that a strong Canada can “help make America great again” – recasts the Canada–U.S. relationship in explicitly pragmatic terms.

Rather than positioning Canada as a counterweight to U.S. economic nationalism, he presented it as a force multiplier for the United States’ own strategic objectives in energy security, supply chains, AI infrastructure, and re‑industrialization.

That framing is shrewd. It acknowledges the realities of a more assertive U.S. trade and industrial policy while offering a collaborative model that can lower costs, reduce risk, and accelerate execution for American firms and investors.

The speech was also notable for its business‑ready specificity. By highlighting Canada’s role as a reliable provider of energy, critical minerals, food, advanced manufacturing, and clean power, Carney translated geopolitical themes into investable opportunities.

His emphasis on rule‑of‑law institutions, regulatory predictability, and a growing network of trade and investment partnerships positioned Canada as an attractive platform for capital seeking both exposure to North American growth and insulation from global volatility.

Equally important was the tone: confident but not complacent, aligned with U.S. strategic priorities without being deferential. Carney managed to speak fluently to Trump’s “America First” agenda while articulating Canada’s own interests with clarity and self‑respect. For corporate leaders, financiers, and policymakers, the result was a reassuring message: Ottawa understands the new landscape, is prepared to work within it, and is focused on building a North American framework that can support durable growth, competitiveness, and security over the coming decade.

[Tablesalt 🇨🇦🇺🇸 @Tablesalt13]

BREAKING: Supreme Court of Canada decides not to hear the Wolastoqey case.

Signaling that private property rights in Canada are supreme, indefeasible, and cannot be subject to Aboriginal title.

[Keith Lambert @KeithMLambert2]

Carney's on a roll. C22 has to go.

[Tablesalt 🇨🇦🇺🇸 @Tablesalt13]

‼️MAJOR BREAKING

Carney government to amend C-22 after massive pile ons by tech companies

Thank you tech bros!! Keep it up!