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Among the giants who now posture for dominance in this unfolding drama, two names stand out: Microsoft and Oracle. Both have amassed considerable wealth and influence, and both now seek to harness the power of these artificial engines. Microsoft, through the integration of these tools into the everyday routines of labor, and Oracle, through the provision of the very infrastructure upon which these routines are built. To understand their prospects is not merely to forecast financial gain, but to glimpse the shape of the world to come.

It is a truth universally acknowledged that a central bank in possession of a healthy economy must be in want of a little tinkering. The Fed, you see, plays the role of economic physician, administering doses of interest rates to stimulate or subdue the beast. Too much stimulus, and inflation, that insidious malady, takes hold. Too little, and the economy falls into a melancholic slumber. A fine line, indeed, and one upon which these esteemed governors stroll with an air of self-importance.

We’re looking for the Meryl Streeps of oil and gas – consistently strong performers who can pay dividends even when everyone else is panicking. Diversification is key. Think of it like a good portfolio of snacks – you don’t want all potato chips, right? You need some pretzels, maybe some chocolate… something to balance things out. These companies have figured that out, and they’re rewarding shareholders for it.

The iPhone 17, a device of polished glass and fleeting desires, has proven…adequate. A renewal cycle, they call it. A temporary reprieve. Management speaks of growth, and one allows oneself a cautious optimism, but the relentless march of quarterly figures feels…hollow. The artificial intelligence, a fashionable distraction, will undoubtedly capture attention. But will it fundamentally alter the trajectory? Perhaps not. By 2031, newer iterations will emerge, chasing the same elusive promise of innovation.

Which brings us to e.l.f. Beauty. A company that makes… well, things people put on their faces. I’m more of a ‘wash and hope for the best’ sort myself, but others seem to require more elaborate rituals. And, as a consequence, e.l.f. might just find its way into my portfolio. Possibly. Don’t mistake contemplation for commitment; I’ve seen perfectly good investments vanish like smoke in a wizard’s beard.

Indeed, the company’s recent performance has been quite extraordinary. A revenue increase of sixty-two percent in the last quarter, culminating in a sum of fifty-seven billion dollars, is a circumstance to be noted with approval. Even more remarkable, perhaps, is the fact that this represents nearly a tenfold increase from the corresponding period two years prior. Such prosperity, however, is not to be regarded as a fleeting fancy, but rather as the harbinger of continued success.

Nvidia, for all its present glory, built its empire on the backs of gamers, crafting illusions with light and shadow. That skill translated, yes, to the cold logic of AI, but it carries with it a certain… extravagance. Broadcom, however, is a different breed. They are not artists; they are engineers. They don’t chase illusions, they solve problems. And the problem now is not simply computing, but computing efficiently.

At the very heart of this frantic construction lies Taiwan Semiconductor Manufacturing (TSM +2.21%). TSMC, or ‘The Foundry’ as the more discreet investors call it, holds a rather… substantial portion of the logic chip market. Without them, this whole AI endeavor would resemble a wizard attempting to conjure a dragon with a handful of pebbles. If The Foundry wasn’t diligently expanding its capacity, building more and more of those tiny, intricate wonders, then the whole enterprise would grind to a halt. And yet, they’ve just given investors a rather compelling reason – fifty-six billion, to be precise – to believe that this isn’t just a fleeting fancy. It’s a sum large enough to make even the most hardened accountant blink.¹