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

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

↗️ CHART WATCH ↗️

🇺🇸 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.

🍏 CHART WATCH 🍏

🇺🇸 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).

🪙 CHART WATCH 🪙

🇺🇸 The healthcare sector ($XLV) had its best day against the S&P 500 ($SPY) since early April.

The price action on the ETF itself looks oversold to me.

😎 CHART WATCH 😎