The net return objective to the investor is 10.0% pa through capital growth over rolling five-year periods.
Material Announcements April 27th to May 4th 2026
Global Top 50 Technology Companies | May 2026
File
| Rank | Company | Ticker | Date | Announcement Summary | IPE Thesis Commentary | Source_URL |
|---|---|---|---|---|---|---|
| 1 | Microsoft | MSFT | 29/04/2026 | Q3 FY2026: rev $82.9B (+18%), Azure +40% YoY, EPS $4.27 beat; guidance raised | Azure +40% confirms AI cloud infrastructure dominance; Copilot monetisation building | https://www.microsoft.com/en-us/investor/earnings/fy-2026-q3/press-release-webcast |
| 2 | Alphabet | GOOGL | 29/04/2026 | Q1: rev $109.9B (+22%); Google Cloud $20B (+63%); net income $62.6B (+81% YoY) | Cloud $20B +63% and $460B backlog: strongest IPE infrastructure thesis proof yet | https://www.cnbc.com/2026/04/29/alphabet-googl-q1-2026-earnings.html |
| 3 | Meta Platforms | META | 29/04/2026 | Q1: rev $56.3B (+33%), fastest since 2021; EPS $10.44 (+62%); capex $19.8B | AI-supercharged ad engine at 33% growth; $19.8B capex signals deep infra conviction | https://www.cnbc.com/2026/04/29/meta-q1-earnings-report-2026.html |
| 4 | Amazon | AMZN | 29/04/2026 | Q1: rev $181.5B (+17%); AWS $37.6B (+28%) 15-qtr high; EPS $2.78; capex $44B | AWS reacceleration + Anthropic/OpenAI gigatwatt deals = compounding infra moat | https://ir.aboutamazon.com/news-release/news-release-details/2026/Amazon-com-Announces-First-Quarter-Results/default.aspx |
| 5 | Apple | AAPL | 30/04/2026 | Q2 FY26: rev $111.2B (+17%); Services $31B record; Cook exits CEO role Sep 1 | Services record validates ecosystem monetisation; Ternus hardware DNA a positive signal | https://www.cnbc.com/2026/04/30/apple-aapl-q2-2026-earnings-report.html |
| 6 | Samsung Electronics | 005930.KS | 30/04/2026 | Q1: rev ~$90B (+43% QoQ); op profit +753% YoY; first HBM4 mass-shipped to NVIDIA | HBM4 first-mover locks Samsung into the AI infrastructure critical path for 2026-27 | https://news.samsung.com/global/samsung-electronics-announces-first-quarter-2026-results |
| 7 | Qualcomm | QCOM | 29/04/2026 | Q2 FY26: rev $10.6B; EPS $2.65; auto revenue record $1.33B (+38%); $20B buyback | Auto +38% signals Snapdragon Digital Chassis embedding compute across AI-era vehicles | https://s204.q4cdn.com/645488518/files/doc_financials/2026/q2/FY2026-2nd-Quarter-Earnings-Release.pdf |
| 8 | NVIDIA | NVDA | 29/04/2026 | Launched Nemotron 3 Nano Omni: open 30B-param multimodal model, 9x throughput | Open multimodal stack deepens NVIDIA full-stack AI moat from silicon to software layer | https://blogs.nvidia.com/blog/nemotron-3-nano-omni-multimodal-ai-agents/ |
| 9 | Atlassian | TEAM | 30/04/2026 | Q3 FY26: rev $1.79B (+32%); EPS $1.75 vs $1.09 est; Rovo AI credit use +20% MoM | Rovo AI users grow ARR 2x faster: AI as enabler counters the SaaSpocalypse thesis | https://www.cnbc.com/amp/2026/05/01/atlassian-team-q3-stock-2026-earnings.html |
| 10 | Palantir | PLTR | 4/05/2026 | Q1 results due May 4 after market; consensus $1.54B rev (+74% YoY), EPS $0.28 | Gotham + AIP defence/enterprise stack positions PLTR as a durable AI infra layer | https://investors.palantir.com/news-details/2026/Palantir-Announces-Date-of-First-Quarter-2026-Earnings-Release-and-Webcast |
10
Total Announcements
$39B+
Total Deal Value
7
Top 50 Global Tech Companies
6
Days Period
Global Top 50 Technology Stocks May 2026
Global Top 50 Technology Companies
File
| Rank | Company | Ticker | Country | May Market Cap | April Market Cap | Month Change | Sector | Key Business | Notable |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Nvidia | NVDA | USA | $4.60T | $4.341T | +6.0% | Semiconductors | AI chips/GPUs for data centers | https://Stays #1; Nemotron 3 Nano Omni open multimodal model launched Apr 29; Q1 FY27 results May 20 ⭐ |
| 2 | Alphabet (Google) | GOOGL | USA | $3.94T | $3.618T | +9.0% | Internet Services | Search/YouTube/Cloud/Android | https://MOVES TO #2 ⭐ overtakes Apple; Q1: Cloud $20B +63%, net income $62.6B +81%; $460B backlog; I/O 2026 May 19 |
| 3 | Apple | AAPL | USA | $3.84T | $3.807T | +0.9% | Consumer Electronics | iPhone, Mac, iPad, Services | https://Drops to #3; Q2 FY26: rev $111.2B +17%; Services $31B record; Cook exits CEO Sep 1, Ternus takes over ⭐ |
| 4 | Microsoft | MSFT | USA | $2.85T | $3.044T | -6.4% | Software | Windows/Azure/Office/Gaming | https://Q3 FY26: rev $82.9B +18%, Azure +40% YoY; BUT custom chip lag vs GOOGL/AMZN weighing; down 14% YTD ⚠️ |
| 5 | Amazon | AMZN | USA | $2.58T | $2.340T | +10.3% | E-commerce/Cloud | Online retail/AWS cloud services | https://Q1: AWS $37.6B +28% 15-qtr high; capex $44B; OpenAI 2GW + Anthropic 5GW Trainium deals; strong recovery ⭐ |
| 6 | TSMC | TSM | Taiwan | $2.062T | $1.785T | +15.5% | Semiconductors | Chip manufacturing foundry | https://BIG JUMP ⭐ confirmed $2.062T; Q1 net income +58%; HPC=61% rev; full-year +30% guided; now well above Meta |
| 7 | Meta Platforms | META | USA | $1.65T | $1.654T | -0.2% | Social Media | Facebook/Instagram/WhatsApp/AI | https://Q1: rev $56.3B +33% fastest since 2021; sold off post-earnings despite beat; capex $19.8B; Muse Spark AI model ⚠️ |
| 8 | Broadcom | AVGO | USA | $1.56T | $1.559T | +0.1% | Semiconductors | Custom AI chips/networking | https://~Flat; custom AI silicon thesis intact; Q2 FY26 due June; AI rev $10.7B guided for Q2; hyperscaler wins |
| 9 | Tesla | TSLA | USA | $1.51T | $1.509T | +0.1% | Automotive/AI | Electric vehicles/Autonomous driving | https://~Flat; Cybercab deliveries commenced; Optimus production lines being installed; Q1 reported Apr 22 |
| 10 | Samsung Electronics | 005930.KS | South Korea | $1.00T | $867.00B | +15.3% | Consumer Electronics/Semi | Smartphones/Memory chips/HBM | https://RECORD Q1 ⭐ rev $90B +43% QoQ; op profit +753% YoY; first HBM4 mass-shipped to NVIDIA Vera Rubin |
| 11 | Tencent | TCEHY | China | $576.00B | $576.00B | ~Flat | Internet Services | WeChat/Gaming/Social media | https://Stable; WeChat platform intact; gaming cycle soft; China macro steady |
| 12 | ASML | ASML | Netherlands | $545.00B | $530.00B | +2.8% | Semiconductor Equipment | EUV lithography machines | https://EUV monopoly intact; semiconductor equipment cycle strong; AI fab buildout beneficiary ⭐ |
| 13 | SK Hynix | 000660.KS | South Korea | $460.00B | $440.00B | +4.5% | Semiconductors | HBM/Memory chips for AI | https://HBM4 dominant; strong AI memory demand; Q1 profits soared 5x YoY ⭐ |
| 14 | Oracle | ORCL | USA | $455.00B | $442.00B | +2.9% | Enterprise Software | Database/Cloud/AI data centres | https://RPO $553B +325% YoY; OCI AI infrastructure pivot; data centre demand exceeds supply ⭐ |
| 15 | Micron Technology | MU | USA | $440.00B | $430.00B | +2.3% | Semiconductors | HBM/DRAM/NAND memory | https://HBM + AI memory demand intact; strong position in AI infrastructure buildout |
| 16 | Netflix | NFLX | USA | $422.00B | $419.00B | +0.7% | Streaming | Video streaming/Original content | https://Stable; ad tier + live events growth; subscriber momentum continues |
| 17 | Palantir | PLTR | USA | $359.00B | $359.00B | ~Flat | Software | Data analytics/AI platforms | https://Q1 results due May 4 after market; consensus $1.54B +74%, EPS $0.28; down ~20% YTD; key watch ⚠️ |
| 18 | AMD | AMD | USA | $340.00B | $320.00B | +6.3% | Semiconductors | PC/Server/AI processors | https://Analyst upgrade Apr 29 (Piper Sandler $300→$375); Q1 reports May 5; 12GW committed (OpenAI + Meta) ⭐ |
| 19 | Cisco | CSCO | USA | $318.00B | $313.00B | +1.6% | Networking | Network equipment/Security | https://AI data centre networking demand sustained; Splunk integration adding security revenue |
| 20 | Alibaba | BABA | China | $309.00B | $309.00B | ~Flat | E-commerce/Cloud | Online retail/Cloud/Qwen AI | https://Qwen AI narrative; stable; China macro steady; watching tariff dynamics |
| 21 | Applied Materials | AMAT | USA | $272.00B | $268.00B | +1.5% | Semiconductor Equipment | Chip manufacturing equipment | https://AI fab equipment demand accelerating; strong beneficiary of HPC buildout |
| 22 | Lam Research | LRCX | USA | $267.00B | $263.00B | +1.5% | Semiconductor Equipment | Wafer fabrication equipment | https://Etch/deposition tools in demand; AI fab cycle strengthening |
| 23 | IBM | IBM | USA | $248.00B | $242.00B | +2.5% | IT Services/Software | Cloud/AI/Consulting/Mainframes | https://Q1: rev $15.9B +9% YoY; software +double-digit; mainframe AI inferencing; ISW HCL/IBM partner ⭐ |
| 24 | SAP | SAP | Germany | $228.00B | $232.00B | -1.7% | Enterprise Software | ERP/Business software | https://SaaSpocalypse pressure; ERP multiple compression; AI disruption threat to core offering ⚠️ |
| 25 | Intel | INTC | USA | $226.00B | $224.00B | +0.9% | Semiconductors | PC/Server processors/Foundry | https://Q1: rev $13.6B +7% YoY; recovery intact; Terafab co-venture with Tesla/SpaceX/xAI ⭐ |
| 26 | Salesforce | CRM | USA | $193.00B | $193.00B | ~Flat | Enterprise Software | CRM/Cloud applications | https://SaaSpocalypse victim; Agentforce AI insufficient vs AI disruption; multiple compression ⚠️ |
| 27 | KLA | KLAC | USA | $186.00B | $184.00B | +1.1% | Semiconductor Equipment | Process control/Inspection tools | https://Process control tools in demand as AI fabs scale; durable infrastructure play |
| 28 | Qualcomm | QCOM | USA | $152.00B | $146.00B | +4.1% | Semiconductors | Mobile processors/5G/Licensing | https://Q2 FY26: auto record $1.33B +38%; EPS $2.65; $20B buyback authorised; AI edge thesis building ⭐ |
| 29 | Texas Instruments | TXN | USA | $180.00B | $179.00B | +0.6% | Semiconductors | Analog chips/Embedded processors | https://Industrial semi bottoming; dividend yield attracting value investors; steady |
| 30 | Shopify | SHOP | Canada | $175.00B | $174.00B | +0.6% | E-commerce | E-commerce platform for merchants | https://AI commerce tools developing; SMB platform thesis intact |
| 31 | Arista Networks | ANET | USA | $172.00B | $170.00B | +1.2% | Networking | Data center networking/Cloud | https://AI data centre switching demand sustained; infrastructure beneficiary ⭐ |
| 32 | AppLovin | APP | USA | $169.00B | $168.00B | +0.6% | Software | Mobile advertising platform | https://Mobile ad AI platform; continuing to outperform vs SaaS peers |
| 33 | Schneider Electric | SU.PA | France | $166.00B | $165.00B | +0.6% | Industrial Tech | Energy management/Automation | https://Data centre power infrastructure demand growing; AI buildout beneficiary ⭐ |
| 34 | Analog Devices | ADI | USA | $161.00B | $160.00B | +0.6% | Semiconductors | Analog/Mixed-signal chips | https://Industrial + comms recovery; strong positioning |
| 35 | Uber | UBER | USA | $158.00B | $157.00B | +0.6% | Transportation Tech | Ride-hailing/Food delivery | https://Autonomous vehicle uncertainty; Waymo competition; macro resilient |
| 36 | Booking Holdings | BKNG | USA | $149.00B | $148.00B | +0.7% | Travel Tech | Online travel booking | https://Travel demand resilient; macro uncertainty; steady performance |
| 37 | PDD Holdings (Pinduoduo) | PDD | China | $142.00B | $142.00B | ~Flat | E-commerce | Chinese e-commerce/Temu | https://Temu global regulatory pressure continues; China e-comm steady |
| 38 | Palo Alto Networks | PANW | USA | $133.00B | $132.00B | +0.8% | Cybersecurity | Network security/Cloud security | https://Cybersecurity spend resilient; SaaS de-rating pressure partially offset by demand |
| 39 | Intuit | INTU | USA | $130.00B | $129.00B | +0.8% | Software | TurboTax/QuickBooks/Credit Karma | https://SaaSpocalypse; AI tax tools threat narrative; multiple compression ⚠️ |
| 40 | ServiceNow | NOW | USA | $128.00B | $127.00B | +0.8% | Software | IT service mgmt/AI workflows | https://Q1 Apr 22: $3.77B +22%; Now Assist AI target raised to $1.5B; Armis acquisition closed ⚠️ |
| 41 | Arm Holdings | ARM | UK | $129.00B | $127.00B | +1.6% | Semiconductors | Chip architecture/IP licensing | https://Reports May 6; FY26 results expected; AI chip design wins building; licensing moat intact |
| 42 | Sony | SONY | Japan | $127.00B | $127.00B | ~Flat | Consumer Electronics | PlayStation/Cameras/Entertainment | https://PS5 cycle mature; imaging sensors strong; entertainment steady |
| 43 | Tokyo Electron | 8035.T | Japan | $123.00B | $121.00B | +1.7% | Semiconductor Equipment | Coater/developer/etch tools | https://AI fab buildout beneficiary; Japanese semiconductor equipment leader ⭐ |
| 44 | Adobe | ADBE | USA | $120.00B | $118.00B | +1.7% | Software | Creative Cloud/Acrobat/Marketing | https://SaaSpocalypse; AI Firefly insufficient vs disruption; multiple compression ⚠️ |
| 45 | Advantest | 6857.T | Japan | $120.00B | $118.00B | +1.7% | Semiconductor Equipment | AI chip test equipment | https://Critical AI infrastructure; chip test demand growing with AI silicon buildout ⭐ |
| 46 | Spotify | SPOT | Sweden | $114.00B | $112.00B | +1.8% | Streaming | Music streaming/Podcasts | https://Podcast monetisation + AI discovery steady; subscriber growth intact |
| 47 | Delta Electronics (TW) | 2308.TW | Taiwan | $111.00B | $109.00B | +1.8% | Industrial Tech | Data centre power components | https://AI power infrastructure play; growing alongside hyperscaler buildout ⭐ |
| 48 | Xiaomi | XIACF | China | $108.00B | $108.00B | ~Flat | Consumer Electronics | Smartphones/IoT/EVs | https://EV + AI devices; China consumer macro headwinds |
| 49 | CrowdStrike | CRWD | USA | $107.00B | $106.00B | +0.9% | Cybersecurity | Endpoint security/Threat intel | https://SaaS de-rating contagion; cloud security fundamentals intact |
| 50 | Delta Electronics (TH) | DELTA.BK | Thailand | $102.00B | $102.00B | ~Flat | Industrial Tech | Data centre power infrastructure | https://AI power systems play; data centre infrastructure beneficiary ⭐ |
The watch list is for informational purposes only and that does not actually represent the actual assets of the Fund
Q1 2026 Top 20 Revenue Growth
File
| Rank | Company | Ticker | Country | Sector | Market Cap | Rev Growth % YoY | Confirmed | Q1 Revenue (est.) | Notes |
|---|---|---|---|---|---|---|---|---|---|
| 1 | SK Hynix | 000660.KS | South Korea | Infrastructure | $460B | +142.0% | ~ | $13.5B | HBM4 memory for NVIDIA; AI chip demand surge |
| 2 | Palantir | PLTR | USA | AI Platforms | $359B | +74.0% | * | $1.54B | Q1 results due May 4 after market; AIP + Gotham |
| 3 | Samsung Elec. | 005930.KS | South Korea | Infrastructure | $1.0T | +51.0% | ~ | $55B | Op profit +753% YoY; first HBM4 shipped to NVIDIA |
| 4 | Micron Technology | MU | USA | Infrastructure | $440B | +38.0% | ~ | $8.1B | HBM + AI memory demand; strong AI infra positioning |
| 5 | TSMC | TSM | Taiwan | Infrastructure | $2.06T | +35.0% | ~ | $26.1B | HPC = 61% of revenue; full-year +30% guided |
| 6 | Applied Materials | AMAT | USA | Infrastructure | $272B | +33.0% | ~ | $7.1B | AI fab equipment demand accelerating |
| 7 | Meta Platforms | META | USA | Cloud/Hyperscale | $1.65T | +33.0% | ✓ | $56.3B | Fastest growth since 2021; capex $19.8B; AI ad engine |
| 8 | Atlassian | TEAM | Australia | Software/SaaS | $28B | +32.0% | ✓ | $1.79B | EPS $1.75 vs $1.09 est; Rovo AI users grow ARR 2x |
| 9 | Lam Research | LRCX | USA | Infrastructure | $267B | +28.0% | ~ | $5.0B | Etch/deposition tools; AI fab cycle strengthening |
| 10 | Arista Networks | ANET | USA | Infrastructure | $172B | +25.0% | ~ | $2.1B | AI data centre switching; infrastructure beneficiary |
| 11 | CrowdStrike | CRWD | USA | Software/SaaS | $107B | +22.0% | ~ | $1.1B | Endpoint security; cloud security fundamentals intact |
| 12 | ServiceNow | NOW | USA | AI Platforms | $128B | +22.0% | ✓ | $3.77B | Now Assist AI target raised $1.5B; Armis acquisition |
| 13 | Alphabet | GOOGL | USA | Cloud/Hyperscale | $3.94T | +22.0% | ✓ | $109.9B | Google Cloud $20B +63%; $460B backlog; net income +81% |
| 14 | Cloudflare | NET | USA | Cloud/Hyperscale | $40B | +21.0% | ~ | $570M | Zero trust + edge network; AI traffic infrastructure |
| 15 | Microsoft | MSFT | USA | Cloud/Hyperscale | $2.85T | +18.0% | ✓ | $82.9B | Azure +40% YoY; EPS $4.27 beat; guidance raised |
| 16 | Amazon | AMZN | USA | Cloud/Hyperscale | $2.58T | +17.0% | ✓ | $181.5B | AWS $37.6B +28% 15-qtr high; capex $44B |
| 17 | Apple | AAPL | USA | Consumer Tech | $3.84T | +17.0% | ✓ | $111.2B | Services record $31B; Cook → Ternus CEO Sep 1 |
| 18 | KLA Corporation | KLAC | USA | Infrastructure | $186B | +15.0% | ~ | $3.5B | Process control tools; AI fab buildout beneficiary |
| 19 | IBM | IBM | USA | AI Platforms | $248B | +9.0% | ✓ | $15.9B | Software +double-digit; mainframe AI inferencing |
| 20 | Cisco Systems | CSCO | USA | Infrastructure | $318B | +8.0% | ~ | $14.0B | AI data centre networking; Splunk security revenue |
While technology and the innovation that surrounds new technologies has been the flavor of recent years, it has been an area of vast opportunity for decades.
Now, with the world having entered the digital age, digital transformation across all industries is of paramount focus for all boards and CEOs.
This is producing unprecedented opportunities for investors through identifying both successful disruptors and industries where there is significant disruption to traditional means of conducting commercial activities.