#17 - $META to the Moon

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This week we recap July’s Freedom Fund growth, rate cuts, Boeing struggles, and Meta gains.

Market Recap

• $META Reports Revenue and Earnings Beat in Q2

  • Revenue increased by 22% YOY and net income rose 73%, driven by gains in the digital ad market and cost-cutting initiatives, despite heavy investments in AI and virtual reality.

  • Exceeded Wall Street expectations with earnings of $5.16 per share and revenue of $39.07 billion, leading to a 7% rise in shares in extended trading​ Wednesday.

  • Meta in Talks to Buy Stake in Eyewear Giant EssilorLuxottica with a roughly 5% stake could be valued at around 4.5 billion euros, or just under $5 billion.

• Boeing $BA Names New CEO

  • Robert Ortberg will replace David Calhoun on August 8th as CEO of Boeing amid a year of regulatory and financial turbulence due to production issues that impacted customers heavily this year.

  • The new CEO’s main focus will be working with the FAA to help get $BA to reach its goal of production of Max jets.

  • After reporting a $1.4B net loss in Q2 earnings Wednesday the stock is down 25% YTD and 43% over the past 5 years.

• September Rate Cut Potential

  • Economic data has pointed toward inflation data falling back toward the central bank’s 2% target, while the unemployment rate has crept up above 4%.

  • The next meeting of the central bank’s Federal Open Market Committee, which determines any rate move, is set for Sept. 17-18.

  • When the Fed decides to reduce rates, it is expected by 25 basis points (0.25 percentage points).

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Freedom Fund Portfolio

• July 2024 Recap

  • Portfolio Value - $17,066.81

  • July Dividends - $71.14

  • Total Return Since Inception - 8.39%

  • This month $EVLV and $LNG were added as new positions to the public portfolio. Along with increasing positions into $SCHB, $WM, $MSFT, & $BCX.

  • Next week is a heavy hitter for earnings calls with 7 companies in the fund such as $APLE, $PLTR, $EVLV, $LAND, $LNG,, $O, and $SHOP all on deck.

• 8/2/24 - Friday Freedom Fund Purchase:

  • 2 shares of $SHOP - Shopify

    • The company will report Q2 2024 earnings on 8/7 next week.

  • 1 share of $SCHB - Schwab US Broad Market ETF

  • 1 share of $BCX - Blackrock Resources and Commodities Strategy Trust

• Other Portfolio News:

  • $EVLV - Rockford Public Schools reports effectiveness of weapons detection systems

  • $PLTR - Palantir and Green Energy Pioneer TES Forge Long-Term Partnership

  • $MSFT - Q4 Earnings

    • EPS: $2.95, surpassing the expected $2.93.

    • Rev: $64.73 billion, exceeding $64.39 billion expected.

    • YOY Rev Increase: 15%, reaching $64.73 billion.

    • Net Income: $22.04 billion, up from $20.08 billion.

    • Cloud Services Growth: 29%, short of anticipated 31%​

Freedom Fund Background: I created the Freedom Fund as a public brokerage account back in October of 2022 to share that anyone with a social security # and a bank account can begin their investing journey by investing a couple hundred dollars a week. Every week and month I post on X (@GrahamInvesting) public updates about the purchases, exits, dividends, and growth of the fund if you want to follow in real time. The biggest obstacle people have to investing is just getting started so I decided to start a new account at $0 to start from nothing with you.

The purpose of Graham’s Gazette is to help others get started and stay consistent on their own personal, professional, and financial journey. I appreciate the time you take in reading & interacting with me and look forward to growing together.

Thanks for investing your time reading this.

-Graham (@GrahamInvesting)

Disclaimer: Graham’s Gazette provides information and resources related to investing, financial topics, and personal growth for educational and entertainment purposes only. The content presented is not intended to be construed as financial advice. Readers are encouraged to conduct their own research and consult with qualified professionals before making any financial decisions. Graham’s Gazette and its creators do not assume any responsibility for the accuracy or completeness of the information provided nor do they guarantee any specific results from such use of information.