I invest with a focus on dividend growth, quality, and attractive valuations. That’s why I set a maximum purchase price for each position based on dividend yield, growth expectations, and my own Margin of Safety (MOS).

I use this overview as a guide to keep emotions out of my buying decisions and to wait patiently for opportunities.

$LMT (+3,31%)
$UNH (-1,66%)
$MCD (+0,02%)
$JNJ (+0,73%)
$PEP (+1,98%)
$PG (+1,17%)
$QCOM (-2,78%)
$UPS (-0,29%)
$NN (-0,24%)
$ASRNL (+0,82%)
$KO (+2,07%)
$WKL (+0,26%)
$MO (+1,55%)
$ADC (+0,51%)
$MAIN (-0,95%)
$O (+0,65%)
$TDIV (+0,13%)
$VPK (+1,23%)
$SHEL (+2,49%)
$AD (-0,57%)
$DTE (+0,98%)
$WHA (-0,41%)
$EOAN (+1,04%)

There was another nice spike last night at $AMBA (-2,3%) . The technology leader in the low-power and vision AI sectors is reportedly in ongoing talks with $NXPI (-0,92%) . For NXP, it would be a major coup, as this is precisely the missing piece of the puzzle in their segments—one they cannot develop quickly enough on their own. The question is also whether this might stir up trouble, and whether companies like $QCOM (-2,78%)
$NVDA (-1,52%) or $6758 (+0,01%) will jump into the bidding war. Personally, I’d prefer it if $AMBA (-2,3%) remained independent. The company isn’t under any real pressure to sell, though they’re surely aware of their negotiating position. Is anyone else invested here, or at least planning to be?

Here's the next big thing from Qualcomm $QCOM (-2,78%)
(NASDAQ: QCOM) Q3 FY26 Earnings Release, fresh off the US market close:

🚀 Top-Line Performance & Diversification

Qualcomm $QCOM surpassed the $9.90 billion in total revenue. While this represents a slight year-over-year decline, it clearly exceeded Wall Street’s expectations, which were around 9.67 billion USD. The semiconductor division QCT remains the main driver of growth with $8.50 billion, while the highly profitable patent licensing division (QTL) posted a solid 1.30 billion USD .

🔮 Automotive Record & Smartphone Low

The transformation from a pure-play smartphone chipmaker to a platform giant for automotive and edge AI is proceeding at a rapid pace:

Automotive Boom: Revenue in the automotive segment skyrocketed by +61% year-over-year to a record high of $1.59 billion . This marks the 23rd consecutive quarter of double-digit growth for Qualcomm’s Digital Chassis platform.

IoT & Edge AI: The Internet of Things segment grew slightly by +9% to $1.83 billion .

Smartphone Slump (Handsets): Revenue from smartphone chips fell by -20% year-over-year to $5.10 billion. However, CEO Cristiano Amon confirmed that this likely indicates the bottom has been reached in inventory adjustments among Chinese OEM customers.

🤖 Profitability & Outlook

Management also paints a solid picture when it comes to margins and the outlook:

Adjusted earnings per share (Adjusted EPS) stood at $2.21 , was just below the analysts’ consensus (~$2.23).

Q4 Forecast: For the fourth quarter, Qualcomm is forecasting revenue of between $9.70 billion and $10.50 billion and EPS of $2.05 to $2.25 .

Long-term goal: The goal of $40 billion in revenue in the non-smartphone segment by FY2029 remains fully intact, with growth in new markets such as data centers and AI chips expected to accelerate to over +60% in FY2027.

⚡ 💡 Jack’s Conclusion

The pivot from smartphone supplier to automotive and AI edge player is going according to plan! The handset business may have suffered from general smartphone fatigue, but +61% growth in the automotive sector impressively demonstrates that Qualcomm is keeping the cars of the future on their toes. With a valuation of just under 15x P/E, the stock remains one of the most reasonably priced value/quality plays in the semiconductor sector.

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$000660
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Monday, July 27

10:00 a.m.: Germany Ifo Business Climate Index (Germany’s most important economic barometer)

2:30 p.m.: U.S. Durable Goods Orders

4:00 p.m.: U.S. Dallas Fed Index (Manufacturing)

Tuesday, July 28

4:00 p.m.: US CB Consumer Confidence (July)

4:00 p.m.: US JOLTS (Job Openings—important for the US labor market)

Wednesday, July 29

8:00 p.m.: US Fed Interest Rate Decision 🌶

8:30 p.m.: US Fed Press Conference

Thursday, July 30

10:00 a.m.: DE Gross Domestic Product (Q2)

2:00 p.m.: German inflation rate (July) 🌶

2:30 p.m.: U.S. core PCE (Fed’s preferred inflation indicator) & initial jobless claims 🌶

Friday, July 31

11:00 a.m.: EU inflation rate & GDP (Q2) 🌶

3:45 p.m.: US Chicago Purchasing Managers’ Index

$PYPL (-0,42%)
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$XOM (+2,39%)
$CVX (+2,14%)
$CCO (-2,21%)
$ARM (-6,21%)
$QCOM (-2,78%)

Numerous companies in my DIBS investment universe have suffered significant losses in recent days. This affects not only individual stocks but also large segments of the AI infrastructure.

Following an exceptionally strong price performance, high valuations are now being scrutinized more critically. The market is taking a much closer look at margins, order intake, and the actual implementation of investment plans. At the same time, additional factors such as increasing competition or short-term disappointments are weighing on individual companies.

This is not an unusual development. Similar phases have also occurred in previous technology cycles. Sharp price increases are often followed by a phase in which the market once again distinguishes more clearly between vision and operational execution.

That is precisely why, in such market phases, I make a conscious effort to take a step back and not overinterpret every price movement.

That’s why, in such situations, I make a conscious effort to look not only at stock prices but also at the underlying signals. In doing so, I currently see both reasons for caution and indications that make me optimistic in the long term.

🔴 Selected “weak signals” that I view critically:

• Harmonic Drive Systems
  $6324 (-2,62%) shows that high demand alone isn’t enough. The discussion surrounding margins and valuation has made the market significantly more sensitive.
• SKF is intensifying competition in the robotics components sector through its acquisition of a Chinese precision robotics company. This could increase pressure on margins in the long term.
• Many companies continue to be valued at high multiples despite the correction. This leaves little room for operational disappointments.

🟢 Selected “Weak Signals” that make me optimistic:

• Micron $MU (-5,27%), TSMC
  $TSM (-2,13%) and ASML
  $ASML (-1,11%) have recently presented quarterly results and outlooks that continue to point to robust demand for AI infrastructure.
• Micron
  $MU (-5,27%) and Qualcomm
  $QCOM (-2,78%) have signed a long-term supply agreement (LTA) for automotive AI. Such contracts provide planning certainty and suggest that key customers are planning their infrastructure beyond just the next few quarters.
• The hyperscalers continue to invest billions in expanding their data centers. The focus is increasingly shifting from announcements to the actual implementation of these projects.

None of these signals on its own proves a trend reversal. But taken together, they help me continuously reassess my investment theses.

For my DIBS strategy, this does not currently imply an automatic decision to buy or sell. What matters to me is not whether a stock falls 30 or 40 percent in the short term, but whether the underlying bottleneck thesis has changed.

That’s why I scrutinize my investment universe particularly closely during such market phases. Not every investment thesis will ultimately pan out. At the same time, however, I currently see no convincing evidence that the fundamental technological bottlenecks in the AI infrastructure sector have already been resolved.

I will therefore continue to closely monitor developments, remaining equally open to both positive and negative signals. For now, I am not making any adjustments to my portfolio.

P.S. The photo of the observer fits the post. I took it years ago in Bonn. The figure can be found tucked away on the banks of the Rhine.

#dibs
#scalelimits
#wikifolio

My fascination with video games began when my dad bought me a Super Nintendo with *Street Fighter 2*; we were constantly playing 1-on-1 matches against family and friends, and I often got blisters on my fingers from using Hadouken and Shoryuken. A few years later, I saw *Tekken* on my cousin’s PS1, and I was blown away by the photorealistic graphics.

I was able to buy my own console in 2001—a PlayStation 2 for over 800 marks—along with two games, *This Is Football* and *Gran Turismo 3*, at 120 marks each; my hard-earned savings from my summer job were gone.

But the phenomenal graphics were worth the high price.😁 When everyone in the schoolyard was talking about GTA III, I had to convince my dad that I absolutely had to have this game. A few days later, I was finally allowed to play it, and what can I say—I think I spent the first few hours playing with my mouth hanging open; it was a dream come true, driving cars freely around a city.

To play the uncut version back then, you had to switch the console’s system settings to English, and just like that, the blood and severed body parts were back.😁

Just a year later, the next highlight arrived: Vice City. With each sequel—which was always better than the last—the “wow” factor started to fade, though; for a long time, I thought that was just because of my age and that, as a kid, I’d simply been more excited about it. Years later, though, that “wow” feeling came back with Uncharted 4, The Last of Us, The Witcher 3, and especially when RDR 2 came out in 2018.🤩

To this day, I only play single-player/story-driven games and can’t get into online multiplayer—and if I do, it’s only couch co-op. 😁

Back to GTA VI—now that I’m 39, I’m really looking forward to the game; it’s sure to be a magnificent game world.🤩 Hopefully they can wow me with a great story, similar to Red Dead Redemption 2, and less trash like in GTA V😅

What games have most recently given you that “wow” feeling and sparked your excitement?

For me, it’s Expedition 33😍, Cyberpunk 2077 🤩, Silent Hill 2, and the Resident Evil 4 remake 🤩