LikeFolio Weekly Roundup

Infinite Hold Updates

Tesla’s (TSLA) Fleet Keeps Growing

Tesla bounced back in the second quarter.

It delivered 480,126 vehicles, up 25% from a year ago and its best second quarter ever, and deployed 13.5 GWh of energy storage, up 40% from a year ago.

The stock fell 7% on the news anyway.

Shares ran about 13% higher in the four sessions before the report, so the beat was largely priced in, and attention has already moved to margins ahead of the July 22 earnings report. Price cuts and incentives helped drive the delivery number, and the market wants to see what they cost. Watch that print, but a pullback on record deliveries changes nothing about why we hold the stock.

Each delivered vehicle adds to the fleet collecting the driving data that trains Full Self-Driving (FSD), the same work behind Cybercab and Optimus. Tesla Energy keeps growing too: its Megapack battery systems supply power for AI data centers, including facilities run by Musk's own xAI.

The vehicle business is executing. We hold Tesla for what sits one layer deeper: autonomy, robotics, and AI infrastructure.

Amazon (AMZN) Prime Day Keeps Getting Bigger

Consumers spent $26.4 billion online across U.S. retailers during the four-day event, up 9.3% from last year, per Adobe. That tops what shoppers spent across Black Friday and Cyber Monday 2025 combined. And Amazon was not the only one benefiting.

Amazon built an event so powerful that the rest of retail now plans around it.

Amazon keeps giving more than 200 million Prime members another reason to keep coming back. This year, shoppers went beyond TVs and electronics, stocking up on groceries, household essentials, school supplies, and other everyday purchases that make Amazon part of their weekly routine. 

The more often consumers rely on Amazon, the harder it becomes to leave. 

The stock fell about 12% in June. We do not see that changing the long-term story. Our LikeFolio Score remains an extremely bullish 91/100, telling us consumer engagement is still running hot at levels we typically see in long-term winners.

Google (GOOGL) Marks a New Milestone

Google officially joined the Dow Jones Industrial Average this week, replacing Verizon (VZ).

It's a meaningful milestone, but probably not for the reason most investors think.

Joining the Dow does not create a flood of new buying. Most large investment funds already own Google through the S&P 500 and Nasdaq-100, so the addition will not materially change demand for the stock.

What it does signal is that Google has joined the ranks of America's most established blue-chip companies.

That's a remarkable evolution for a business that started as a search engine less than three decades ago.

Today, Google runs one of the world's largest digital platforms. Billions of people rely on Search, Gmail, Chrome, Maps, Android, YouTube, and Workspace every day. Now the company is embedding AI across all of those products.

That's why we continue to believe Google is one of the strongest long-term AI investments available. AI is deepening Google's core business, making one of the world's most valuable platforms even more useful.

The Dow inclusion recognizes what we've believed for years: Google has become essential infrastructure for the digital economy. We believe AI will make that position even stronger.

Portfolio Spotlight: Why Our Hims & Hers (HIMS) Conviction Keeps Growing

Hims & Hers shares have climbed roughly 65% since late May as Wall Street begins to catch up to what we've been saying for months. This story goes beyond a short-term stock move: consumers are fundamentally changing how they manage their health.

For decades, healthcare has been reactive. You waited until something went wrong, then went to the doctor.

That model is changing.

AI is making it possible to detect disease earlier. GLP-1 therapies are helping millions of people lose weight. New technologies are beginning to target the aging process itself.

Together, these advances are creating what we call the longevity economy, a shift away from treating illness and toward helping people stay healthier for longer.

As consumers embrace that shift, they need a trusted platform that connects them with treatments, testing, and ongoing care.

Hims is becoming that platform.

The company has already built direct relationships with millions of subscribers. It's expanding beyond hair loss and telehealth into weight management, hormone optimization, biomarker testing, and other longevity-focused services. Every new offering makes the platform more valuable to consumers.

Most importantly, our data continues to confirm the story. Consumer demand remains near all-time highs. Visits to HIMS’ platforms are up 19% year over year, outrunning the stock’s recent performance:

There will be volatility along the way. That's normal for an emerging category.

But our core thesis has not changed: longevity is becoming one of the biggest consumer trends of the next decade, and Hims & Hers is building the platform consumers will use to navigate it.