🇺🇸 Meta ($META) has gained 1.36 billion users since 2019 across their 4 platforms (Facebook, Instagram, WhatsApp, Messenger). They brought in $47.52 billion in revenue.

They surprised to the upside on earnings on Wednesday (+21.36%) and the price gapped up 11.51% on Thursday, giving only 26bp back before close.

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🇺🇸 President Trump dropped a truth yesterday afternoon asking pharmaceutical companies to bring down prices in America. Evidently substantial portions of the world are paying much less.

Regardless, most pharmaceutical giants reacted negatively. The VanEck Pharmaceutical ETF ($PPH) shed 3.2%. Eli Lilly ($LLY) was down 2.63%, Pfizer ($PFE) lost 2.18%, and Novo Nordisk ($NVO), pride of Denmark, fell 5.92%.

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🇺🇸 Artificial intelligence is consuming more & more available venture capital.

In fact, it’s now bigger than the consumer.

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🇺🇸 Apple’s sales rose 6% as their income fell 2.6%. Their revenue via services dwarfs their revenue from products. And their revenue via China is down, but not by much.

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🇺🇸 Coinbase ($COIN) earnings came in yesterday. They reported total revenue of $1.5B, missing analyst expectations of $1.59B. Crypto asset volatility was down 16% in the second quarter of this year, which led to total trading volume falling 39% q/q & missing expectations by $5.05B.

As such, $COIN gapped down & closed -16.7% today.

However, the EPS stood at $5.14 on net income of $1.4B against analyst expectations of $1.25. This silver lining was largely due to the appreciation of their post-IPO investment in Circle ($CRCL) & other crypto investments.

Subscription & services offerings grew 9% to $655.8M, short of analysts’ $705.9M projection, but the 38% increase in revenue from stablecoins ($333.2M) was right on target ($332.5M).

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