Real Estate Services

Opendoor Tech

Unity

Conference Minutes

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Below is Dolphin Research's Trans of the Q4 2025 earnings call for $Unity Software(U.US). For our earnings review, see '30% Overnight Plunge: Who Crushed Unity?'. I. Key financials recap. Q4 2025 results. Revenue $503mn (+2% YoY); Adj. EPS $0.24 (vs. Street $0.21). Adj. EBITDA $125mn (margin 25%); FCF $119mn...

Unity Software

Opendoor Tech Series A - CW26

Opendoor Tech Series K - CW26

Opendoor Tech Series Z - CW26

TENCENT

TENCENT-R

Tencent HK SDR 10to1

Tencent

Tencent Holdings Limited

Unity (Trans): Vector up 70% YoY in Jan.

Costco

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DASH

UBER

Below is Dolphin Research's full earnings call Trans for $Costco Wholesale(COST.US) FY26 Q1. For our First Take, see 'US Gov. shutdown victim? Is Costco's last leg down?'1) Key metrics recap. Headline results: net income of $2.001bn and diluted EPS of $4.50.Excluding tax benefits related to SBC, net income and EPS rose 13.6% YoY. Sales: net sales were $65.98bn (+8.2% YoY), with comps up 6.4%...

Costain Group PLC

Costco Wholesale

Doordash

Uber Tech

Signet

Ameriprise Financial

COST (Trans): Confident on inflation; plans to open 30 warehouses annually.

DELL

Financial Analysis

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NVDA

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Dell Technologies (DELL.N) released its financial report for the third quarter of fiscal year 2026 (ending October 2025) after the U.S. stock market closed on November 26, Beijing time: 1. Core performance: $Dell Tech(DELL.US) reported revenue of $27 billion for the quarter, an increase of 10.8% year-on-year, close to market expectations ($27.3 billion). The company's revenue growth of nearly $2.7 billion this quarter was primarily driven by contributions from AI server shipments. The company's gross margin for the quarter was 20.7%, down 1.1 percentage points year-on-year, slightly better than market expectations (20%). Compared to service revenue...

Bio-Techne

Dell Tech

SMIC

Broadcom

NVIDIA

Alphabet - C

Alphabet

GraniteShares 2x Long NVDA Daily ETF

XL2CSOPNVDA

XI2CSOPNVDA

YieldMax NVDA Option Income Strategy ETF

Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Long NVIDIA Daily Target ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

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Direxion Daily GOOGL Bull 2X Shares

SMIC HK SDR 5to1

Dell DELL: Storage Price Increase Adds to Troubles? AI Guidance Provides Support

ORCL

OpenAI

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The following are the minutes of AMD's Q3 2025 earnings call, compiled by Dolphin Research. For an interpretation of the earnings report, please refer to the article titled 'AMD: Partnering with Open AI? Not a 'Spare Tire' Lifesaver'.1. Review of AMD's Core Financial DataOverall performance for the third quarter: Revenue increased by 36% year-over-year to $9.2 billion, excluding revenue from MI308 sales to China; net profit increased by 31%; free cash flow grew more than threefold; diluted earnings per share were $1.20, up 30% from $0.92 in the same period last year...

Oracle

Destiny Tech100

Digitalocean

Cisco

GraniteShares 2x Long AMD Daily ETF

Crane

AMD (Minutes): No new orders disclosed, MI450 focuses on rack-level solutions

ASIC

MSFT

INTC

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04335

AMD (AMD.O) released its financial results for the third quarter of 2025 (ending September 2025) after the U.S. stock market closed on the morning of November 5, 2025, Beijing time. Key points are as follows: 1. Overall Performance: AMD achieved a revenue of $9.25 billion in the third quarter of 2025, a year-on-year increase of 35.6%, exceeding market expectations ($8.74 billion). The year-on-year growth in revenue was mainly driven by the client and gaming business, as well as the data center business. The company's gross margin (GAAP) for this quarter was 51.7%, an increase of 1.6 percentage points year-on-year...

Ategrity Specialty Holdings LLC

Meta Platforms

Microsoft

Intel

Amazon

INTEL-T

AMD: 'Tied to' Open AI? Not a 'Backup' Lifesaver

AMD Quick Interpretation: The company's revenue and gross margin for this quarter exceeded previous guidance expectations, primarily driven by growth in the data center, client, and gaming businesses.With the recovery of the PC market, the company's client business reached a new high, and the gaming business has clearly rebounded from the bottom.The most watched data center business achieved revenue of $4.34 billion this quarter, an increase of $1.1 billion quarter-on-quarter, better than market expectations ($4.14 billion). This was mainly driven by the increased production of the MI355 series, with Dolphin Research estimating that AI GPUs contributed approximately $800 million of the incremental revenue.Regarding the company's guidance, it expects next quarter's revenue to be between $9.3 billion and $9.9 billion, with the midpoint ($9.6 billion) representing a 3.8% quarter-on-quarter growth, still mainly driven by the MI355. The company's non-GAAP gross margin for the next quarter is expected to be around 54.5%.As Open AI signed a major contract with the company, market focus has completely shifted from gaining CPU market share to the data center field.Meanwhile, the company's stock price has surged from around $150 to over $200, primarily catalyzed by Open AI.Open AI's 6GW major contract is expected to bring the company approximately $100 billion in revenue, providing support for the company's sustained growth in the future.On the other hand, with the help of Open AI, the market is also looking forward to the subsequent MI450 series products and the enhancement of competitiveness in the AI chip market, and the current high valuation has already factored in the expectation of high growth over the next 2-3 years.For this earnings report, the market is more focused on progress in the data center field, such as the status of new orders and the progress of the MI450, which are more attractive than the next quarter's guidance. For more information, please follow Dolphin Research's subsequent detailed commentary and management minutes. $AMD(AMD.US)

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1. Key Points of the GTC Conference 1. NVIDIA has established a strategic partnership with Nokia, investing $1 billion in Nokia's equity. They released a new product series called 'NVIDIA ARC,' which Nokia will use for future base stations to upgrade 6G and AI capabilities; 2. They released the NVQLink interconnect architecture and the CUDAQ platform, which directly connects GPU supercomputers with QPUs (quantum processors), laying the groundwork for quantum computing processors; 3. $NVIDIA(NVDA.US) is collaborating with the U.S. Department of Energy to build the largest AI supercomputer in the United States...

Nokia Oyj

Bluebird Bio

HeartBeam

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HEARTBEAM INC C/WTS 31/10/2026 (TO PUR COM)

 GTC Conference: Next Year's Shipment 'Blockbuster', is NVIDIA‘s Limit Really “Sky”？

TSMC

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TSMC released its Q3 2025 financial report (ending September 2025) before the U.S. stock market opened on the afternoon of October 16, 2025, Beijing time. Key points are as follows: 1. Revenue: TSMC's revenue for this quarter was $33.1 billion, a quarter-on-quarter increase of 10.1%, mainly driven by the stocking of electronic products such as iPhones and the growing demand for AI chips. The company's revenue for this quarter exceeded the upper limit of the guidance range ($31.8-33.0 billion), partly due to the depreciation of the U.S. dollar. In terms of New Taiwan dollars, the company's quarterly revenue increased by about 6%...

Direxion Semicon Bear 3X

Direxion Semicon Bull 3X

iShares Semiconductor ETF

Semiconductor

Qualcomm

Taiwan Semiconductor

Apple

GraniteShares 2x Long AAPL Daily ETF

Direxion Daily AAPL Bear 1x Shares

Direxion Daily AAPL Bull 2X Shares

T-Rex 2X Long Apple Daily Target ETF

Kurv Yield Premium Strategy Apple Aapl ETF

"Dominant" TSMC, is it the strongest king in the AI era?

APLY

TSMC Quick Interpretation of Financial Report: The company's quarterly financial report performed well, with revenue and gross margin exceeding the revised expectations of buyers. Specifically for this quarter's financial report:1) Revenue: Quarterly growth of 10%, mainly driven by shipment volume. Entering the third quarter, electronic products such as iPhones began the stocking phase, directly driving the seasonal increase in shipment volume. It is noteworthy that part of this quarter's quarterly growth was contributed by the depreciation of the US dollar. From the perspective of the New Taiwan dollar, the company's quarterly revenue grew by 6%, basically in line with expectations.2) Gross Margin: The company's gross margin for this quarter reached 59.5%, significantly better than market expectations (57.3%). With average prices remaining relatively stable, the growth in gross margin was mainly due to the decline in unit fixed costs (depreciation and amortization). The substantial increase in shipment volume this quarter diluted the fixed cost per wafer under the scale effect.Compared to this quarter's data, the market is more concerned about the company's capital expenditures and future operational guidance.① Capital expenditure range increased to $40-42 billion, with speculation that fourth-quarter capital expenditure will reach $10.6-12.6 billion; ② The company expects next quarter's revenue to be $32.2-33.4 billion, which is close to buyer expectations. The biggest surprise is that the company provided a gross margin close to 60%, far exceeding market expectations (57.3%).TSMC itself is the absolute leader in the wafer manufacturing industry, and with the mass production of 2nm, the company will further widen the gap with competitors. With its leading manufacturing capabilities, AI chips from manufacturers like NVIDIA and Broadcom require TSMC for production. Therefore, in this round of AI Capex boom, TSMC is the most important link in the AI semiconductor industry chain.If major cloud service providers and companies like OpenAI significantly increase capital investment again, it will provide strong support for TSMC's performance growth and valuation. For more detailed content, please follow Dolphin Research's subsequent specific commentary and management Minutes. $Taiwan Semiconductor(TSM.US)

YieldMax AAPL Option Income Strategy ETF

Opendoor's New Model Boosts Q1 Margin to 4.4%, Targets Net Income Breakeven by End of 2026

Opendoor CEO Kasra Nejatian Buys Company Stock

Opendoor Reports Beat Q1 Earnings, EPS Loss of $0.05

Opendoor Tech released FY2026 Q1 earnings on May 7 After-Market (EST), actual revenue USD 720M (forecast USD 667.16M), actual EPS USD -0.1803 (forecast USD -0.0964)

Opendoor Technologies Reports Exceeding Q1 Earnings

Opendoor Technologies to Report Q1 Earnings on May 7

Opendoor Tech to release FY2026 Q1 earnings on May 7 After-Market EST, forecast revenue USD 667.16 M, EPS USD -0.0964

Increase in OPEN Option Volume and Opendoor Technologies Stock Price Rise

Opendoor Stock Surges on iBuying Market Bounce Expectations

OPEN Options Market Volume and Unsettled Contracts on April 2nd Eastern Time

Opendoor Technologies Option Volume Increases with Stock Price Volatility

Opendoor Tech released FY2025 Annual Earnings on February 19 After-Market (EST), Actual Revenue USD 0 (Forecast USD 4.229 B), Actual EPS USD 0 (Forecast USD -0.3772)

Opendoor Tech released FY2025 Q4 earnings on February 19 After-Market EST, actual revenue USD 736 M (forecast USD 594.02 M), actual EPS USD -1.2625 (forecast USD -0.1137)

Opendoor Technologies Inc. Reports 2025 Fiscal Year Financial Data

Opendoor Reports Strong Earnings, Shares Rise

Opendoor Tech to Release FY2025 Q4 Earnings on February 19, 2026 After-Market EST, Forecast Revenue USD 594.02M, EPS USD -0.1137

Opendoor Announces Major Business Model Adjustment and New Strategy

SRX Health Solutions Inc. Invests in Opendoor Technologies Inc.

Opendoor CEO's Support for Trump Policies Caused Market Concern and Share Price Decline

Opendoor Acquires HomeBuyer.com to Boost House Services

InMed Pharmaceuticals

AMPLITECH GROUP INC. USD0.001 S/R 20/11/26 SER B

Amesite

CN Energy

AMPLITECH GROUP INC. COM USD0.001 (S/R 18/07/2026)

NextNRG

Meiwu Tech

Generation Income Properties

MetaVia

OceanPal

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OPEX

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Opendoor reported Q1 revenue of $720 million, exceeding forecasts by 8.3%, despite a significant year-over-year decline. The company achieved operational improvements with faster resale times and higher margins. However, shares have dropped nearly 20% post-earnings due to pressures in the broader real estate market.

John Hancock Mortgage-Backed Securities ETF

Vanguard Real Estate ETF

PIMCO Mortgage-Backed Securities Act ETF

VanEck Mortgage REIT Income ETF

Tradr 2X Long OPEN Daily ETF

Vanguard Mortgage Backed Sec

Global X PropTech ETF

Janus Henderson Mortgage Backed Securities

SPDR Portfolio Mortgage Backed Bond ETF

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Real Est Select Spdr

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iShares Mortgage Real Estate Capped

Opendoor tops forecasts but faces steep sales drop

Opendoor Technologies (OPEN) stock closed at $4.38, experiencing a 2.0% decline over the past day and a 12.6% drop over the past week. Despite a strong one-year total shareholder return of 4.6x, recent performance shows a 17.2% monthly decline. Analysts suggest the stock may be overvalued at $4.33 fair value, with concerns over housing demand and inventory risks. The P/S ratio of 1.1x indicates it is cheaper than peers, but still raises questions about its pricing relative to fundamentals.

Simplywall

A Look At Opendoor Technologies (OPEN) Valuation After Recent Share Price Pullback

Opendoor's new model emphasizes quick home turnover, enhancing margins which rose to 4.4% in Q1 2026 from 1.0% in Q4 2025. The company aims for adjusted EBITDA profitability in Q2 2026 and expects to reach net income breakeven by the end of the year.

Opendoor's faster model boosts margins despite high rates

Opendoor Tech(OPEN.US)

Opendoor tops forecasts but faces steep sales drop

A Look At Opendoor Technologies (OPEN) Valuation After Recent Share Price Pullback

Opendoor's faster model boosts margins despite high rates

How The Next Systemic Shock Could Impact OPEN Stock

Opendoor to Present at JP Morgan's 2026 Global Technology, Media and Communications Conference

Trending | OPEN Decreases 3% on Monday, Some Put options Soar 100%

Opendoor (OPEN) Earnings Call Signals Tentative Turn

Opendoor Hits Forward EBITDA Profitability As AI Focus Reshapes Risk Reward

Opendoor Posts Better-Than-Expected Q1 Results: Details