Weekly Check-In: TSM, BRK.B, AMZN

TSM is around $404, recovering about 1% this week after last week's semiconductor selloff. Record Q2 — $39.9B revenue, 77% net profit growth — and 2026 revenue growth guidance raised above 40%. Still off its June highs on capex concerns, after TSMC raised 2026 spending guidance to $60–64B for Arizona expansion and 2nm ramp. Consensus Buy, average target ~$490.

BRK.B closed at $512.37, an eight-month high. Trading below last year's valuation, sitting on almost $400B in cash, likely buying back its own shares — and pulling in money as tech sold off elsewhere. Q2 helped: modestly higher BNSF earnings, lower catastrophe losses. Valuation around 1.4x book value.

AMZN jumped to ~$270 after Q2 earnings — its biggest single-day surge since 2012. AWS revenue $42.2B, AI and custom-chip units both now over a $25B annual run rate. Capex guidance raised again, to $220B this year, on rising memory prices. Strong Buy consensus, average target ~$315.

The thread across all three: AI-driven capex is running ahead of expectations everywhere, and the market is swinging between rewarding it (this week) and fearing it (last week). Berkshire sat outside that swing entirely — the defensive counterweight while chips and cloud names did all the moving.