Gene Munster

@munster_gene on X

Writes about AI, Growth and Revenue. 79% of posts open with an observation. A typical post reaches 283 likes.

Remix their style

Posts: 14
Likes: 4.6K
Typical: 283
Best: 692

What they write about

AI: 57%
Growth: 36%
Revenue: 29%

How they open

observation: 79%
number: 14%
question: 7%

Every post of theirs in the library

Gene Munster@munster_gene

$META just raised its full-year Capex guide midpoint by 9%. I bet this will be the biggest takeaway from all of the earnings tonight. This isn't just another AI datapoint. Infrastructure is scaling fast which means AGI is only a few years out. $NVDA is up 3%.

Opens with an observation

Gene Munster@munster_gene

$MU results and guide show we are still early in the AI buildout. They hit the high end of the revenue whisper, up 364% yy, compared to Street at 286%. Margins were the big surprise. 85% vs. Street at 81%. Guided Aug revenue growth 342% vs. Street 285%.

Opens with an observation

Gene Munster@munster_gene

Regarding the question about how early we are in AI? $GOOG guided Capex this year to grow at 108% at $175-185B. Previously the Street was expecting 30% growth, or $116B. Meta is now well behind Google at 74% growth. Let the arms race continue.

Opens with a question

Gene Munster@munster_gene

$AMZN Stock down 11%. AWS growth was 24% vs whisper of 25%+ and imprint of 22%. Whisper jumped last night on the Google Cloud blowout last night. Capex guide was $200B. Expectations were $150B.

Opens with a number

Gene Munster@munster_gene

Native Gemini subs are now 750m weekly, up from 650m in September. OpenAI is at 900m. The gap is 150m today. Six months ago it was about 300m gap. Sundar said also had a “sharp increase in usage” by each users. My take: More users, more usage by each user. $GOOG

Opens with a number

Gene Munster@munster_gene

We’re investors in xAI and X, and this combo makes a lot of sense. Grok brings the brains. X brings the distribution (600M MAUs) and a unique data asset. OpenAI has the brains and brand distribution (e.g., Apple), but lacks X’s proprietary data. Long-term edge: xAI.

Opens with an observation

Gene Munster@munster_gene

Susan Li says long term it's hard to predict exact timing of buildout. Says long term investment in capex will continue to grow in 2028 and beyond. That gives them flexibly to the pace of AI adoption. My take: Good for AI infrastructure trade.

Opens with an observation

Gene Munster@munster_gene

$AMZN shares bounced (Now down 1.7%) on comment that they're bringing AWS to capacity as fast as possible. As fast as capacity is online, it’s being used. More capacity is coming in the next few months. Good news for AWS growth in June and September.

Opens with an observation

Gene Munster@munster_gene

Here’s the sneaky good $META datapoint: • Family of Daily People hit 3.43B — up 6% y/y vs. 5% in Dec & Sep '24. • That’s ~64% of the world’s daily internet users. • Growing faster off an absurdly high base = investors sleep well at night and pay a higher multiple.

Opens with an observation

Gene Munster@munster_gene

I have a surprise takeaway from the $AAPL iPad event. Apple is getting a lot faster at updating its silicon with the announcement of the M4 chip. This is important as more AI features are run on device, and Apple looks to make hardware an AI competitive advantage.

Opens with an observation

Gene Munster@munster_gene

$AAPL active installed base up 7% y/y is a sign that the Apple ecosystem is alive and well. Long-term this should offset iPhone concerns because eventually Apple will capture that upgrade revenue. Hard to predict what quarter it falls into.

Opens with an observation

Gene Munster@munster_gene

iPhone was solid. Revenue up 5.5% y/y, compared to Street at 3%. Over the past three weeks analysts numbers have come down, reflecting more concern about the initial first few weeks of iPhone 16 demand. $AAPL

Opens with an observation

Gene Munster@munster_gene

$AAPL guides up for March on revenue and margins and stock is still up only about 1%. Expects revenue growth of 13-16% vs. Street at 10% Gross Margins of 48-49%, vs. Dec at 48.2%. This is inline with typically margins improve from Dec to Mar.

Opens with an observation

Gene Munster@munster_gene

$META CFO Susan Li says headcount reductions that they announced last week will help offset increased spending in AI infrastructure. My take: Latest data point that AI is having an impact on employment.

Opens with an observation