Hello, friends of joyful investing,

I’d like to share another milestone with you—one that came sooner than expected:

The portfolio has surpassed the 400k mark.

First off: This is just a snapshot. Markets aren’t a one-way street, and things can easily swing back in the other direction. Still, I’m happy about it and am consciously savoring the moment.

My strategy: Quality Growth with a strong moat

I continue to follow a quality growth approach. I look for companies with

• a strong, hard-to-attack moat (network effects, switching costs, technology leadership, market standards),

• high and stable margins that demonstrate the business model’s pricing power,

• high return on equity and the ability to profitably reinvest earnings,

• tailwinds from global megatrends such as AI, the cloud, cybersecurity, the digitization of payments, and healthcare.

My goal is actually quite simple: to invest in outstanding companies and then watch them grow as compounders over the years. Trade less, hold more.

Deliberately Concentrated

The concentration in the portfolio is intentionally high. I am convinced that companies like $NVDA (-2,12%), $GOOGL (+0,34%) , $MSFT (+0,8%) , $META (+0,02%) , $AMZN (-0,2%) , $AVGO (-2,45%) , $CRWD (-3,01%) , $ANET (-6,14%) and $ASML (-0,78%) will continue to benefit significantly from these megatrends in the future. This is complemented by high-quality companies with near-monopoly positions such as $V (+1,98%) , $MA (+1,85%) , $SPGI (+3,49%) , $MCO (+2,75%) and $CTAS (+1,68%) , which consistently deliver high margins.

Conclusion

Patience and conviction pay off when you invest in the right companies.

I’m sticking to my strategy and seeing how things play out.

What do you think: focus on quality, or is a broad diversification better? I look forward to hearing your thoughts!

$ANET (-6,14%)

Source

https://s21.q4cdn.com/861911615/files/doc_news/Arista-Networks-Inc--Reports-Second-Quarter-2026-Financial-Results-2026.pdf

Here's the hot stuff from Arista Networks
$ANET (-6,14%) (NYSE: ANET) Q2 2026 Earnings Release, delivered fresh on August 4, 2026, after the U.S. market closed:

🚀 Top-Line Performance & Historic Milestone

The specialist in high-speed network infrastructure for AI and cloud delivers an absolutely spectacular second quarter of 2026 and breaks through a historic revenue threshold for the first time:

Total revenue: Climbed by +37.7% YoY to $3.036 billion (compared to $2.20 billion in the same quarter last year; +12.1% compared to Q1 2026).

All-time high: For the first time in the company’s history, Arista has surpassed the $3 billion in revenue in a single quarter and shatters the analyst consensus of ~$2.83 billion!

Drivers: Unabated surge in demand for high-speed networking solutions for data centers and large-scale AI clusters (AI Fabrics).

🔮 Profitability & Strong EPS Beat

In addition to rapid revenue growth, Arista is shining thanks to strong operational scaling, delivering significant margin gains:

Non-GAAP diluted EPS: Soared by +39.7% YoY to $1.02 (up from $0.73 in Q2 2025), far exceeding Wall Street’s expectations of $0.89 per share! (GAAP EPS was $0.95).

Non-GAAP operating margin: Climbed to an outstanding 49.9% (up from 48.8% in the same quarter last year). GAAP operating margin was 45.4%.

Operational Strength: Highlights the platform architecture’s tremendous pricing power and efficiency amid rising volumes.

🤖 AI Network Initiative & "Arista 2.0"

CEO Jayshree Ullal highlights the transformation of the network into the central nervous system of modern AI infrastructure:

Platform Strategy: Success of Arista 2.0strategy seamlessly connects networks from the client through the campus to data centers and AI clusters.

Technology Leadership: Introduction of new 1.6 Tbps AI Fabric platforms (including liquid-cooled options) that are specifically optimized for highly scalable AI training and inference networks.

⚡ 💡 Jack’s Take

What a massive beat & raise from one of the absolute key players in AI! With its first-ever $3 billion quarter, a non-GAAP margin of just under 50%, and an EPS jump to $1.02 (vs. $0.89 consensus), that the expansion of global AI data centers is continuing at full speed. Anyone who thought networking switches were a boring commodity business will be proven wrong by Arista’s near-monopoly position among the hyperscalers!

Monday, August 3

3:45 a.m. | 🇨🇳 CHN: RatingDog Manufacturing PMI (July)

8:00 a.m. | 🇩🇪 GER: Retail Sales (June)

9:55 a.m. | 🇩🇪 GER: Manufacturing PMI (July)

10:00 a.m. | 🇪🇺 EUR: Manufacturing PMI (July)

4:00 p.m. | 🇺🇸 US: ISM Manufacturing PMI (July) 🌶

4:00 p.m. | 🇺🇸 US: Construction Spending (June)

Tuesday, August 4

2:30 p.m. | 🇺🇸 US: Trade Balance (June)

4:00 p.m. | 🇺🇸 US: JOLTs Job Openings (June)

4:00 p.m. | 🇺🇸 US: Industrial Orders (June)

Wednesday, August 5

3:45 a.m. | 🇨🇳 CHN: RatingDog Services PMI (July)

2:15 p.m. | 🇺🇸 US: ADP Employment Report (July)

4:00 p.m. | 🇺🇸 US: ISM Services PMI (July) 🌶

4:30 p.m. | 🇺🇸 US: EIA Crude Oil Inventories

Thursday, August 6

8:00 a.m. | 🇩🇪 GER: Industrial Orders (June)

11:00 a.m. | 🇪🇺 EUR: Retail Sales (June)

1:00 p.m. | 🇬🇧 UK: Bank of England (BoE) Interest Rate Decision

2:30 p.m. | 🇺🇸 US: Initial Jobless Claims

Friday, August 7

8:00 a.m. | 🇩🇪 GER: Employment, Q2

2:30 p.m. | 🇺🇸 USA: U.S. Employment Report (Nonfarm Payrolls, July) 🌶

2:30 p.m. | 🇺🇸 USA: U.S. Unemployment Rate (July)

9:00 p.m. | 🇺🇸 USA: Consumer Credit (June)

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$RIOT (-2,17%)
$CIRC
$NOVO B (+3,08%)
$U (+2,25%)
$SNDK (-4,02%)
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$WDC (-4,84%)
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$MELI (+0,46%)
$AXON (-0,42%)
$TTMI (-6,12%)
$RDW (+0,78%)
$QBTS (+2,47%)
$DDOG (-2,29%)
$CLA (+0%)
$FI (+2,98%)
$LNG (-1%)
$UUUU (+0,87%)
$HIMX (+0%)
$ABNB (+3,29%)
$RGTI (+3,35%)
$TTD (+7,49%)
$AAOI (-5,47%)
$TXG (-2,87%)
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$OUST
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$OKLO
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$ACMR (-7,95%)
$WEED (+3,75%)
$UAA (+1,34%)

The AI boom is usually discussed in terms of chips and software, but the market that’s actually larger lies beneath: data centers, power grids, and cooling systems. According to Gartner, AI infrastructure is expected to grow to over 1.4 trillion U.S. dollars by 2026, accounting for a good 45% of all AI spending. McKinsey even estimates that up to 7 trillion U.S. dollars in investment will be needed by 2030.

And it’s not just the big-name tech companies that are benefiting from this.$ANET (-6,14%) And $CSCO (-4,28%) supply the high-performance networks, $VRT (-6,62%) and the cooling technology for data centers. What’s particularly exciting is that “traditional industry” is also playing a major role.

$ABBN (-2,47%) and $SIE (-1,8%) are seeing double-digit growth in the data center business; $SiemensEnergy provides the power connection, and $HOT (-3,18%) has more than doubled its data center orders within twelve months—result: promotion to the DAX.

Anyone looking for the AI story only among chip manufacturers is overlooking the more exciting part of the physical infrastructure behind it.

👉 The full analysis with all the numbers and charts is available in verlinkten Artikel.

#KI
#Rechenzentren
#Infrastruktur
#Marktausblick

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