Buzzberg Cup Live

IBM Just Said the Quiet Part Out Loud | WAYT?

Watch on YouTube ↗  |  July 14, 2026 at 22:16  |  59:17  |  The Compound News
Speakers
Josh Brown — CEO, Ritholtz Wealth Management
Michael Batnick — Managing Partner, Ritholtz Wealth Management

Summary

Josh Brown and Michael Batnick discuss SpaceX’s rapid IPO round-trip, Apple’s lawsuit against OpenAI and its AI gateway strategy, IBM’s shocking revenue miss as a warning for enterprise software, why the stock market may not be in a bubble, the debut of a highly volatile SK Hynix ADR, and strong bank earnings driven by equity trading. Josh makes a bullish technical case for ServiceTitan, and Michael’s mystery chart reveals Citigroup’s three-year outperformance.

  • SpaceX IPO roundtripped from $135 to $217 and back near IPO in under 30 days, matching typical hot-IPO pattern.
  • Apple sues OpenAI for industrial espionage, reinforcing the thesis that Apple will own the consumer AI relationship through iOS.
  • IBM pre-announced weak revenue, showing enterprise clients are shifting spending to AI hardware and cybersecurity over traditional SaaS.
  • Multiple data points suggest the current market is not a bubble: earnings estimates are reliable outside recessions and semis’ earnings growth far outpaces price gains.
  • SK Hynix’s US ADR debuted with extreme volatility linked to its primary Korean listing, making it a risk for US investors.
  • Major banks smashed earnings with explosive equity trading and investment banking fees, led by JPMorgan and Goldman Sachs.
  • Josh Brown made the case for ServiceTitan as a sticky hardware/software platform for contractors with improving technicals.
  • Mystery chart showed Citigroup up ~200% in three years, outperforming JPMorgan as Jane Fraser’s turnaround takes hold.
Ideas
Josh Brown CEO, Ritholtz Wealth Management 10:06
Apple controls consumer AI access
Apple's installed base of 2.5 billion devices makes it the gatekeeper for consumer AI, allowing it to monetize any LLM accessed through iOS. The lawsuit against OpenAI is a defensive move to stifle hardware competition and protect that toll position. Apple's partnership with Google's Gemini further cements its central role, regardless of which AI model wins.
AAPL HIGH
Josh Brown CEO, Ritholtz Wealth Management 25:14
Enterprise spending shifts to cyber and AI hardware
IBM's revenue miss and pre-announcement reveal that enterprise IT spending is rotating away from traditional SaaS toward AI infrastructure (servers, memory, GPUs) and cybersecurity. IBM's customers are prioritizing workload security and AI hardware, benefiting cyber stocks and hardware vendors like CrowdStrike, Palo Alto Networks, and Dell, which hit new highs on the news.
PANW CRWD DELL HIGH
Josh Brown CEO, Ritholtz Wealth Management 38:10
SK Hynix ADR too gap-prone for most
The US-listed SK Hynix ADR is the tail, not the dog; the primary listing trades in Seoul, causing large overnight gaps up or down, making it extremely volatile and unsuitable for many investors expecting a price pattern aligned with US hours.
SK Hynix ADR MED
Josh Brown CEO, Ritholtz Wealth Management 41:55
Bull market fuels big bank profits
We are in a classic equity bull market where the business lines that benefit the most—trading, prime brokerage, equity finance, IPOs, secondaries—are booming. JPMorgan and Goldman Sachs are the prime beneficiaries, posting explosive equity trading revenues and record banking fees, with strong consumer and small business resilience underpinning the economy.
GS JPM HIGH
Josh Brown CEO, Ritholtz Wealth Management 53:29
ServiceTitan breakout in old-economy vertical
ServiceTitan is a sticky hardware/software platform dominating the old-economy vertical of plumbers, builders, and carpenters. It is the fastest-growing software platform in its space, poised to become the industry standard. The technicals are improving for the first time, with the 200-day moving average being challenged, RSI at 65, and a strong consolidation above $60.
TTAN HIGH
Michael Batnick Managing Partner, Ritholtz Wealth Management 56:44
Citigroup turnaround outperforms all banks
Citigroup has been the best-performing bank over the last three years, even beating JPMorgan, thanks to Jane Fraser’s aggressive portfolio pruning—selling 25 businesses—to shrink and refocus the franchise, proving the turnaround story is working.
C MED
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This The Compound News video, published July 14, 2026, features Josh Brown, Michael Batnick discussing AAPL, PANW, CRWD, DELL, SK Hynix ADR, GS, JPM, TTAN, C. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Josh Brown, Michael Batnick  · Tickers: AAPL, PANW, CRWD, DELL, SK Hynix ADR, GS, JPM, TTAN, C