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- [00:00]
Brookfield Representative
At Brookfield, you can own wealth that's measured in generations for 125 years. We've built long term wealth through expertise, discipline and a clear vision for the future, providing investors access to alternative strategies built for what's Next Brookfield Own what's Next learn more@brookfield.com this is not an offer to sell or investment advice. Investing involves risks, including loss of capital.
- [00:24]
Paul Sweeney
At Venture Global, we think about what can be done, not what's usually done through innovation. Venture Global is not only building some of the largest energy facilities in the world right here in the United States, but delivering American energy at a fraction of the cost in a fraction of the time. So while others are busy talking, we're busy building. That's Venture Global. That's unstoppable energy.
- [00:54]
Scarlet Fu
Being a small business owner isn't just a career, it's a calling. Chase for Business knows how much heart and effort go into building something of your own. Manage all your business finances, from banking to payments to credit cards, all in one place with Chase's digital tools. Plus access online resources designed to help your business thrive. Learn more@chase.com business chase for business Make More of what's yours the Chase Mobile app is available for select mobile devices. Message and data rates may apply JP Morgan Chase Bank NA Member FDIC Copyright 2026 JPMorgan Chase Co.
- [01:32]
Bloomberg Intelligence Podcast Host
Bloomberg Audio Studios Podcasts Radio news. You're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on YouTube.
- [01:54]
Scarlet Fu
And a lot of the outlook on the markets will depend on how this SpaceX mammoth IPO proceeds. Pricing could take place next week and then the stock could begin trading potentially the day after. Sri Natarajan is our Chief Wall Street Correspondent here at Bloomberg News and he's looking at Paul's favorite angle of IPOs, which is banks and banks getting paid to take this company public and sri. Your reporting has found that Elon Musk is negotiating to to cut down the fees that bankers normally get paid. What do bankers normally get paid and what is Elon Musk want to pay them?
- [02:29]
Sri Natarajan
Look, if you think about it realistically, in some ways SpaceX is the Walmart of IPOs, right? It has all the pricing power here. It is raising $75 billion. So you shouldn't expect a typical IPO fee. And to your question what a typical IPO fee is, most IPOs generally tend to raise less than a billion dollars, a few hundred million dollars, and the banks would usually charge between 4 to 7%. But even when we talk about the league of mega IPOs, that fee does get reduced drastically. But even in most of those cases, almost all of those cases are usually above 1%. That was the Facebook, Uber, Alibaba. You have to go back perhaps to 2020 and 2010, and a very unusual public listing of General motors back in 2010, when the banks agreed to a 0.75% fee on that IPO, largely because the owner of GM at the time was the United States government. This is very different. But also look at the quantum of money that SpaceX is trying to raise. $75 billion. So even if they charge one of the lowest or offer one of the lowest IPO fees on record, less than 75 bips, less than 0.75%, that would still amount to somewhere in the ballpark of $500 million. And Paul will tell you that is a pretty good payday for banks.
- [03:43]
Paul Sweeney
And this is how the roadshow is going to go. It's like, I just want to hear Elon give me the vision, give me the pitch. I don't need the CFO, but the
- [03:51]
Scarlet Fu
$20 trillion total addressable market.
- [03:53]
Paul Sweeney
I don't need to talk about valuation. None of that's relevant. It's, do you buy Elon's vision? And if I'm Eli, I'm like, what am I paying you that for? Paying you anything for that. So any pushback on the banks by the banks on this, or are they just looking at the long game and saying, this is Elon Musk and there's a lot of business here?
- [04:11]
Sri Natarajan
The latter, yes, yes, and yes. I cannot imagine a scenario where the banks have a lot of position to push back. You already have 23 banks signed up for this, and again, $500 million. You're talking about the lead banks getting probably roughly $100 million a year. That's my guess. And it trickles down. But everyone who's anyone has signed up for this because you don't want to miss out on the biggest IPO that matters.
- [04:32]
Scarlet Fu
Okay, 23 banks sign up for this. Why does SpaceX need 23 different banks to help it sell this IPO?
- [04:39]
Sri Natarajan
Scour every corner of possible investors and make sure you can get to your 1.8, perhaps even the 2. $2.2 trillion valuation. Of course, our reporting shows that the bankers have been dialing it back on what the potential valuation could be for SpaceX. But all of these banks will serve a Different purpose. You can, you can see someone like a Citigroup, perhaps tap after retail investors overseas because of their strength in those markets. Or bank of America looking at retail investors in the United States, Goldman Sachs, Morgan Stanley, JP Morgan, these are the banks that will be really strong with the big institutional investors. Investors like say a blackrock in the United States or the Saudi sovereign fund, Biff. These are some of the names that are already out there. But these are the names that these big banks have to arrange and make sure that they're able to line up. Because even if it's Elon Musk and even if you believe in this multi planetary grand vision, $75 billion is $75 billion on the back of the surprise stealth, $80 billion raised by Google. There's so much money going around. So it's kind of extraordinary what's happening in this market. In a span of 10 days, if everything goes right, Goldman, Morgan Stanley and the others would have raised over $100 billion in new equity. I can't think of a quarter where they would have raised that much or
- [05:56]
Scarlet Fu
even a 6 month gotten to anthropic or OpenAI yet.
- [05:59]
Paul Sweeney
We haven't have any. So you got to get ready. When are we going to get the roadshow schedule? Because I want that in my inbox because I'm the first person you're going to forward it to. When are we going to get that?
- [06:09]
Sri Natarajan
Do you think you will be the first person I'll forward it to when I get it and when I have a better sense of do we have
- [06:13]
Paul Sweeney
any idea when that's going to be made available? Like are they going to Boston, are they going to London, are they going to do a rubber chicken lunch here in New York? Do we know any of that stuff?
- [06:20]
Sri Natarajan
I mean imminent has to be the best on site considering they want to very close the next week.
- [06:25]
Paul Sweeney
They're playing it very close to the best.
- [06:27]
Sri Natarajan
Or it could also mean that. I just don't know.
- [06:29]
Paul Sweeney
Could be, I don't know.
- [06:30]
Scarlet Fu
Well, the timeline here that we've been reporting according to our understanding is pricing next Thursday.
- [06:35]
Matthew Bloxham
Correct.
- [06:36]
Scarlet Fu
Okay. And always, always, always the stock then begins trading the following day.
- [06:40]
Sri Natarajan
That's the goal that's up and usually that's what happens. Again, these things can move around a day or two. But when you're talking about 1.8 trillion, when you're talking about colonizing Mars, does the day here or that really matter?
- [06:50]
Paul Sweeney
It touches just 30 seconds on the Google. What's the buzz out there in the marketplace about the Google deal and nobody expected that.
- [06:56]
Sri Natarajan
What a surprise move. We've all been Talking about the $75 billion raise, the largest public listing on record. And out of nowhere Google comes across and it's hard to compare the data because of the different tranches that are involved in this billion dollar that Google is raising. But if I had to stick my neck out, I would think that this is the largest equity raise ever. You have Berkshire as the anchor investor, a big chunk that gets priced today, another piece that gets priced in a few weeks. $80 billion. Never seen anything like that.
- [07:25]
Scarlet Fu
Stay with us. More from Bloomberg Intelligence coming up after this.
- [07:30]
Brookfield Representative
At Brookfield, we invest in the thing behind the thing, behind the Next Big thing. Our focus across infrastructure, energy, real estate, private equity and credit is helping build the backbone of the global economy. We combine deep operational expertise with disciplined long term investing, uncovering value and partnering alongside clients to shape tomorrow's economy today. Brookfield Own what's next? Learn more@brookfield.com this is not an offer to sell or investment advice. Investing involves risks, including loss of capital.
- [08:03]
Paul Sweeney
Support for the show comes from Public. Public is an investing platform that offers access to stocks, options, bonds and crypto. And they've also integrated AI with tools that can assist investors in building customized portfolios. One of these tools is called Generated Assets. It allows you to turn your ideas into investable indexes. So let's say you're interested in something specific like biotech companies with high R and D spend, small cap stocks with improving operating margins, or the S&P 500 minus high debt companies. Chances are there isn't an ETF that fits your exact criteria. But on Public you just type in a prompt and their AI screens thousands of stocks and and builds a one of a kind index. You can even backtest it against the S&P 500. Then you can invest in a few clicks, go to public.com market and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com market and paid for by
- [08:57]
Public.com Announcer
Public Holdings Brokerage Services by Public Investing member FINRA SIPC Advisory Services by Public Advisors SEC Registered Advisor Crypto Services by Xerohash Sample prompts are for illustrative purposes only, not investment advice. All investing involves risk of loss. See complete disclosures@public.com Disclosures Financial growth begins
- [09:18]
Oppenheimer Representative
long before the first investment. It comes from understanding what you're building toward, what's at stake, and what success looks like for you. At Oppenheimer, we bring bold thinking, guided by the full strength of our expertise to Put capital to work building and protecting wealth that lasts generations. Put the power of Oppenheimer thinking to work for you. Wealth management, capital markets, investment banking.
- [09:47]
Bloomberg Intelligence Podcast Host
You're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg business app Listen on demand, wherever you get your podcasts or watch us live on YouTube.
- [10:01]
Paul Sweeney
Anthropic is they filed first. It seems like they beat ChatGPT PT, whatever that thing is, OpenAI, all that kind of stuff coming to the public markets. I guess it's a little bit of a race to.
- [10:12]
Scarlet Fu
Yeah, it definitely feels like OpenAI has lost the momentum with the trial, the court case between Elon Musk and Sam Altman. And Anthropic is all that anyone's talking about, right, Claude? Over Chat CBT all day long.
- [10:23]
Paul Sweeney
Matthew Bloxham joins us here. He's a senior media tech analyst for Bloomberg Intelligence based over there in London. Matthew, what do you expect? I mean, we're going to get SpaceX kicking off Thursday, presumably the roadshow. But let's talk about anthropic here. These two big IPOs that are coming down the pike here. How do you think, what do you think investors are going be looking for?
- [10:47]
Matthew Bloxham
Well, I think with Anthropic that they're just kind of looking for as much detail as they can get about the kind of revenue model, the momentum behind it. Obviously we've been hearing data points recently that we're kind of back end of last year, then maybe the annualized revenue run rate was around the kind of $10 billion market could be closer to $50 billion by the end of the year and where they are on that pathway and what the economics of the business look like. Yes, it's similar to SpaceX. You just kind of live off breadcrumbs and suddenly you get a big download of data that kind of really helps you to understand the business model more.
- [11:26]
Scarlet Fu
Matthew, we characterize OpenAI and Anthropic as being in a race, but is it actually like that? If you have Anthropic going public before OpenAI, does that mean there's less demand for OpenAI's IPO?
- [11:40]
Matthew Bloxham
Yeah, you know, I think it's definitely right to characterize this as the race, regardless of what the companies might say. You know, these are huge numbers that companies are raising and we don't know yet how much either these companies will look to raise. But you know, if SpaceX is looking to raise 75 billion and Google's out there looking to raise 80 billion, it's going to be in the tens of billions of dollars and there's only so much capital out there. And so, you know, I think it's definitely better to go earlier than later because if you go later you're at risk that either the capital flow has dried up or that those IPOs that went before you didn't go so well or the market's taken a bit of a turn and so you're kind of left, you know, maybe either having to accept a low valuation or a small amount of money. So I think going sooner is always better than going later when you're raising money.
- [12:33]
Paul Sweeney
I'm an old EV to EBITDA guy, maybe I'll go a little price to free cash flow. But I don't know how you're going to value these AI stories based out the market is going to be valuation sensitive at all or is it just you take what you get?
- [12:50]
Matthew Bloxham
I think it's a little bit of both. But I mean, yeah, what have we got to play with? Nothing really more than EV to sales. And they're pretty eye watering multiples. Even on that kind of forward multiple trillion dollars anthropic is going to be on about 20 times sales. So you are having to extrapolate many years out to kind of reconcile that with any but DAR multiple or an earnings multiple. And there's clearly a huge number of assumptions you're having to put in to get to those kind of forward estimations. So yeah, it's, it's a kind of a moonshot trade really, isn't it that you know, you're kind of buying into the fact that in some way, shape or form these companies that are coming to market are going to be the foundational businesses of the next 30, 40, 50 years of technology. And you know, it's going to work out eventually for you.
- [13:47]
Scarlet Fu
Remember PEG ratios and eyeballs and all the different metrics that people come up with during the dot com bubble days. Feels like total addressable market is a new one for this era. So Matthew, before we say goodbye to you, as people investors get ready to partake in these IPOs, they're likely going to lighten up in some of their exposure to existing tech holdings because otherwise they have too much concentration risk. What kinds of companies are most at risk then?
- [14:17]
Matthew Bloxham
Yeah, I mean it's a good question, isn't it? I mean, you know, it could be everything from like, you know, Nvidia, tsmc. You know, I think you're kind of clearly going to be needing to think about companies where you have had great performance and that perhaps you're kind of prepared to do a bit of profit taking, maybe taking the view that actually, you know, even if you sell a bit of Nvidia intrinsically, you're kind of going to get some benefit and some indirect exposure by kind of playing it through one of these other names. So yeah, it's a, it's a tricky one, but I think, you know, probably a lot of portfolios are already inherently kind of fairly concentrated. So, you know, given the numbers, which talking about, you're going to be having to look at these like mega cap names to kind of trim exposure.
- [15:05]
Scarlet Fu
Stay with us. More from Bloomberg Intelligence coming up after this. What if you could have more wins, more support, more sound effects at LPL Financial? We like the sound of that because LPL offers more advisors. What if you could have more ways to help your clients ready to invest? What if you could find an advisor that really understands you when it comes to your finances, your business, your future? At lpl, we ask what if you could Paid Advertisement Investing involves risk, including
- [15:35]
Bloomberg Intelligence Podcast Host
potential loss of principal LPL Financial LLC
- [15:37]
Paul Sweeney
Member Finra SIPC Support for the show comes from Public. Public is an investing platform that offers access to stocks, options, bonds and crypto, and they've also integrated AI with tools that can assist investors in building customized portfolios. One of these tools is called Generated Assets. It allows you to turn your ideas into investable indexes. So let's say you're interested in something specific like biotech companies with high R and D spend, small cap stocks with improving operating margins, or the S&P 500 minus high debt companies. Chances are there isn't an ETF that fits your exact criteria. But on Public you just type in a prompt and their AI screens thousands of stocks and builds a one of a kind index. You can even backtest it against the S&P 500. Then you can invest in a few clicks, go to public.com market and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com market ad paid for by
- [16:33]
Public.com Announcer
Public Holdings Brokerage Services by Public Investing member FINRA SIPC Advisory Services by Public Advisors SEC Registered Advisor crypto services by ZeroHash sample prompts are for illustrative purposes only, not investment advice. All investing involves risk of loss. See complete disclosures@public.com Disclosures Financial growth begins
- [16:53]
Oppenheimer Representative
long before the first investment. It comes from understanding what you're building toward, what's at stake, and what success looks like for you. At Oppenheimer, we Bring bold thinking guided by the full strength of our expertise to put capital to work building and protecting wealth that lasts generations. Put the power of Oppenheimer thinking to work for you. Wealth management, capital markets, investment banking.
- [17:22]
Bloomberg Intelligence Podcast Host
You're listening to the Bloomberg Intelligence podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg business app Listen on demand wherever you get your podcasts or watch us live on YouTube.
- [17:37]
Paul Sweeney
Well, we've been talking about Victoria's Secret all morning. Some really, really strong numbers beat the street pretty handily and we're seeing A stock up 45% here today. So that's a good news there. Mary Ross Gilbert, she covers the retailers for Bloomberg Intelligence. Mary, talk to us about Victoria's Secret. What seems like a huge turnaround there.
- [17:57]
Mary Ross Gilbert
Paul, you're absolutely right. Hillary super is really executing supremely. Her team, you know, Hillary and her team. So when you look at the results today, their comparable, comparable sales were up 13%. Now remember, they are cycling declines of comp sales in the first quarter for like the past three to four years. So that is helping. Still, this is a big increase, seeing a double digit increase in comp sales. But it's not just that. It's also they're selling more at full price. They're attracting a younger cohort. So the 18, they saw a lot of strength in 18 to 24 year olds, but they also saw strength in households earning under 50,000 and households earning over 200,000. So that's really saying something about what's happening here with the brand. So they have great franchises that they've created. So they have like the dream Angels. A lot of these are the innovative lines that they've come out with in bras. Their lace collection is, is hugely popular. You know, within Pink. The turnaround at Pink has been phenomenal and it's really resonating there. I mean, they have these totes that are selling out. So Victoria's Secrets has totes. Well, we're talking about totes specifically within the Pink franchise. But yes, Victoria's Secret also has totes, but Pink does as well. And there were a number of pieces for spring and summer that sold out, including a really cool duffel bag. So they're really hitting the mark. You know, they have this wonderful fragrance and beauty franchise that's like a $2 billion business and they saw strength and double digit gains across all categories. And the momentum should continue in the second half. So it appears that the guidance which is really going to be sort of drawn back to more single Digit gains really looks like they could be beatable. There's going to be some product launches in the second half. They're going to really heat up the campaigns.
- [20:05]
Scarlet Fu
Right.
- [20:06]
Mary Ross Gilbert
And all of that is really, I mean, did you know that Victoria's Secret has 77 million Instagram followers?
- [20:14]
Scarlet Fu
Okay, that is news. But I'm looking at Paul Sweeney and he's going to tell me that he's not surprised given that Victoria's Secret used to be a big, big brand. You know, with the fashion shows and everything. Is that something that the CEO Hillary super is going to bring back? I mean, the company now has some momentum or has the company effectively moved away from that former profile?
- [20:36]
Mary Ross Gilbert
Well, let's make it clear. And the reason why their ticker symbol VS X Y very sexy. Right? I mean, it's important. That's a big part of the Victoria's Secret brand franchise, is sexiness. And so Scarlett speaking to the fashion show. The fashion show has, is already back. They had a great fashion show last year. That's okay. And this year I'm sure it's going to be great. It's much more inclusive. It's from a woman's point of view on, you know, what is sexy. And it's really a fantastic show. So. But they also have a number of other campaigns that they do. They do a lot in New York City, just on the street, and they post it on social media. All of those things are resonating and you see a lot of strong sales within the stores. The culture there, I think, has always been very positive because employees who work there love their jobs and you would experience it. If you go in there, they're so engaging. They help you out, they know how to size you and they show you so much of their product. And so I think they get a lot of conversion with that kind of engagement in the stores.
- [21:51]
Scarlet Fu
Stay with us. More from Bloomberg Intelligence coming up after this.
- [21:56]
Paul Sweeney
Support for the show comes from public. Public is an investing platform that offers access to stocks, options, bonds and crypto. And they've also integrated AI with tools that can assist investors in building customized portfolios. One of these tools is called generated Assets. It allows you to turn your ideas into investable indexes. So let's say you're interested in something specific like biotech companies with high R and D spend, small cap stocks with improving operating margins or the S&P 500 minus high debt companies. Chances are there isn't an ETF that fits your exact criteria. But on public, you just type in a prompt and their AI screens thousands of stocks and builds a one of a kind index. You can even backtest it against the S&P 500. Then you can invest in a few clicks, go to public.com market and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com market and paid for by
- [22:50]
Public.com Announcer
Public Holdings Brokerage Services by Public Investing Member FINRA SIPC Advisory Services by Public Advisors SEC Registered Advisor crypto services by ZeroHash sample prompts are for illustrative purposes only, not investment advice. All investing involves risk of loss. See complete disclosures@public.com disclosures
- [23:10]
Paul Sweeney
the world is transforming faster than ever, and standing still isn't an option. At Oppenheimer we're working at the forefront of the innovation economy to invest where progress begins, finding opportunities that build and protect wealth for individuals and institutions that want a seat at the edge of tomorrow. Put the power of Oppenheimer thinking to work for you. Wealth Management Capital Markets Investment Banking Ryan Reynolds here from Mint Mobile with a message for everyone paying Big Wireless way too much. Please, for the love of everything good in this world, stop with Mint. You can get premium wireless for just $15 a month. Of course if you enjoy overpaying. No judgments. But that's weird. Okay, one judgment anyway. Give it a try@mintmobile.com Switch upfront payment
- [24:01]
Scarlet Fu
of $45 for 3 month plan equivalent to $15 per month required int first 3 months only, then full price plan options available, taxes and fees extra. See full terms@mint mobile.com
- [24:11]
Bloomberg Intelligence Podcast Host
you're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg Business app Listen on demand wherever you get your podcasts or watch us live on YouTube.
- [24:25]
Paul Sweeney
When I saw the blowout Dell earnings last week, did I run out and buy HP stocks Hewlett Packard like a direct competitor? No. And what did HP do yesterday? Blowout numbers stocks up 25% today 52 week high. All time high. So there you go. The AI story is alive and well in that part of the tech stack. Woo Jin Ho joins us. He knows what's going on there. He's a senior Technology analyst at Bloomberg Intelligence down there in our Princeton campus which talk to us about hpe. What did you learn from their results last night?
- [24:57]
Woo Jin Ho
Yeah, hey hey Paul Blowout is an understatement. There's a couple of things going on. I think we're starting to shift from a a cyclical upswing to maybe a secular multi year adoption phase for traditional servers as corporate Enterprises start to adopt AI into the workplace, which may be driving better margins as well as a stronger growth for a longer period.
- [25:29]
Scarlet Fu
Let me ask a dumb question. What is the difference between Hewlett Packard Enterprise and Hewlett Packard trading under the ticker hp? Q. I mean, both are seeing benefits tied to AI, but I just want someone to kind of break it down.
- [25:43]
Woo Jin Ho
Yeah, yeah. From a straightforward basis. Scarlet. If you think about Hewlett Packard
- [25:51]
Scarlet Fu
Inc.
- [25:51]
Woo Jin Ho
They only sell laptops and PCs as well as a sizable printer business. And that was a function of the split several years back. Hp, Hewlett, Pocket Enterprise, they sell servers for corporates as well. And data centers. They have AI data centers and accessible networking business for corporates. So think about corporate IT versus personal
- [26:15]
Paul Sweeney
it, which how does HP and Dell stack up in this new world where again, they're trying to take advantage of this spend?
- [26:26]
Woo Jin Ho
Yeah, so, so there's a, you know, there's a couple of things where they're similar and where they differentiate. Look, Dell is a market leader in AI servers. They're on pace for about $60 billion in AI servers. The stuff that they sell to the Neo cloud, such as navies and core weavers and Vulture for instance. Right. Dell, HP presence in that business isn't as sizable. They're probably on pace for about 6 billion, so 110 the size of Dell for this year. Where the, where they're both seeing the momentum is enterprise it. Look, I think where the street, including myself have gotten it wrong was that this memory inflation was going to impact demand.
- [27:09]
Paul Sweeney
Demand.
- [27:09]
Woo Jin Ho
Right. There was a big pull forward of demand. So we thought for this quarter, which drove the upside in the quarter as well as the next quarter, but we thought that units were going to start dwindling. And what both Dell as well as HP confirmed was that this is going to be durable and sustaining going over to the next several quarters, which is driving not only sales growth but also
- [27:29]
Scarlet Fu
earnings growth when it comes to hp. They also announced that a partner at Elliott Investment Management, Chris Shu, would join the board of directors. I know last July is like a million years ago, especially when you look at the stock price for hp, but this was a company that was engaging with activist investors. Is it safe to say that Elliott's kind of happy with what we've seen here?
- [27:54]
Woo Jin Ho
I don't know, Scarlet. 25% stock going up after joining the board. Elliott should be pretty happy. And look, to be fair, Elliott was highly involved with Juniper prior to the, to the acquisition as well. I believe they were a board member. So I'm not surprised that with hp,
- [28:13]
Paul Sweeney
what's the visibility on forward bookings for, for these companies like the HP and Dell today? How does that look right now?
- [28:21]
Woo Jin Ho
Yeah, so, so for, from, from a, from a, from a Dell AI server standpoint, it's fairly strong. Right. The backlog on the AI servers, I think it's closer to about 27 to 30 billion dollars going forward. So they have a fair amount of visibility. You know, they don't give order bookings for the traditional server business. But one thing that I can say about HP is that these guys gave out fiscal 2027 guidance. We're still in the middle of their fiscal 2026, so six quarters of forward guidance. That takes a lot of number one guts, but also a strong confidence in their bookings, in their backlog to give that kind of guidance. And on top of that, with strong earnings growth, their guidance implies about $4 plus in earnings when consensus was at the high twos. So you know, to give that the sales growth as well as the earnings guidance, I mean that's a lot of visibility.
- [29:18]
Scarlet Fu
Yeah, that is. And it's pretty incredible. I wonder to what extent, Paul, we're going to see other companies start to do the that because so far it isn't necessarily rewarded companies. That is for, for looking that far out.
- [29:29]
Paul Sweeney
Yep. What's the next thing we're looking for just in terms of your world and to see kind of where the demand is coming from?
- [29:38]
Woo Jin Ho
Yeah, from my world, look, earnings has died down. A couple of things that we're looking for. We have the Computex conference that's going on right now. So we've seen some of the chip maker names benefit as well. But there's going to be some server news as well as optics news. And then on top of that we have some conferences. So we'll probably get a follow up from HPE from, from their discovery conference coming soon.
- [30:02]
Bloomberg Intelligence Podcast Host
This is the Bloomberg Intelligence podcast available on Apple, Spotify and anywhere else you get. Your podcasts listen live each weekday 10am to noon Eastern on Bloomberg.com, the iHeartRadio app, TuneIn and the Bloomberg Business app. You can also watch us live Every weekday on YouTube and always on the Bloomberg terminal.
- [30:28]
Scarlet Fu
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Paul Sweeney
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- [31:57]
Woo Jin Ho
Wasabi driving innovation in data storage for
- [32:00]
Paul Sweeney
up to 80% less than market competition. Try for free at wasabi.com wasabi hot cloud Storage Proud partner of Iheart Podcast Network.