“A repeal of Prop 22 would have resulted in additional costs for Lyft, DoorDash and Uber of about $300mn, $1bn and $1.1bn, respectively in 2025. The companies could have offset about 85 per cent of those additional costs in part via higher fees... though that could have reduced demand.”

 “Broadcom is one of the must-own AI stocks due to its leadership as a fabless semiconductor provider across many categories. ... CEO Tan has put Broadcom on a strong path that should carry on. ... All told, we think AVGO is in the process of demonstrating over $70 in EPS power within a few years.”

 “Best in show... Establishing itself as the next high quality large cap stock... DDOG has a robust platform with 22 products. Its value proposition is attractive for spend consolidators and…those who are yearning for bleeding edge tech. We believe this is only the beginning of DDOG’s AI journey. AI will likely be a meaningful growth driver... Since its IPO, Datadog has been delivering pretty consistent upside to its revenue and operating margin guidance.”

 “Core Consumer Remains Strong; Reiterating $90 Target & Most Upside in Large-Cap... Meanwhile, correction from highs provides attractive entry point as estimates now higher than pre-Analyst Day, while stock is lower. Travel remains a tailwind... Retail sales continue to be strong, driven by affluent customers, which are UBER’s core consumers.”

 “What are your neighbors doing? Buying AI. AI stocks are now core holdings.”