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Vertiv and GE Vernova, both suppliers of AI data center infrastructure, beat Wall Street estimates in their third-quarter reports. Vertiv's revenue rose 61% year over year and it expects 38% organic growth for the full year, while GE Vernova's revenue rose 27% and its orders jumped 96% organically, with full-year revenue guided up 22%-25%. Both stocks remain well below their all-time highs from earlier this year (45% and 24% respectively), after the Fed raised benchmark rates for the first time in three years this September. Vertiv faces supply constraints and possible margin pressure from its UtilityInnovation Group acquisition, while GE Vernova's Wind segment remains weak and its planned Trench Group deal could compress margins. The author expects Vertiv's EPS to grow faster (49% CAGR vs 24% from 2025 to 2028) and notes it trades at 25 times next year's earnings versus 37 times for GE Vernova, so if forced to choose one, the author would pick Vertiv.
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Burke Wealth Management said its Focused Growth Strategy returned 10.8% net of fees in Q3 2026, versus a 2.3% gain for the S&P 500 Total Return Index, with a year-to-date return of 20.0% against 12.7% for the benchmark. The quarter benefited from a sharp recovery in enterprise software. In its Q3 letter, Burke said Alphabet (GOOG) is the only company with Meta's combination of AI talent, compute capacity and installed customer base, and expects an announcement from Alphabet shortly on agentic personal assistants. GOOG closed at about $317.28 on October 23, 2026, with a market capitalization of about $3.86 trillion and a one-month return of -6.99%.
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Berkshire Hathaway CEO Greg Abel has cut the portfolio from 42 to 29 stocks, while its value grew 9% to $299 billion. The top five holdings still make up about 69%, led by Apple at 22%, followed by American Express at 17.1% and Coca-Cola at 10.9%. Abel has added heavily to Alphabet, which now accounts for 9.4% of the portfolio and is Berkshire's fourth-largest holding. The author says Alphabet trades at a forward P/E of about 22 with a cloud backlog of $514 billion, and expects Abel may keep adding to the position, though Alphabet's free cash flow is under pressure as its capex rises to $195 billion to $205 billion for fiscal 2026.
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