The six US tech mega-caps make up roughly 30% of the S&P 500 and most of the AI capex flowing into the rest of the economy. R2A tracks 14 platform names — the ones that own the underlying customer relationships everything else depends on.
The post-2022 thesis that "AI will commoditize the platforms" hasn't survived contact with the cash flows. Microsoft, Amazon, Alphabet, and Meta are spending more on capex in 2026 than the entire S&P 500 ex-financials spent on capex in 2010. They're funding it from operating cash. They're also building the infrastructure that monetizes the AI they're spending on. The wheel is closed.
R2A's variant view: the platforms aren't a single trade. Microsoft is the cleanest AI exposure with a real software moat. Amazon has AWS plus the Anthropic relationship plus retail logistics that get more defensible with AI. Meta is the most asymmetric — Reality Labs is a draw on cash, but Llama and a billion-user social graph make the AI distribution math better than anyone else's. Apple has the hardest AI story to tell publicly but the most installed-base optionality. R2A is selectively constructive on the four with the cleanest story; the rest (Oracle, Salesforce, Intuit) are Holds. Baidu and Alibaba are Sells on China-specific issues, not platform-tech issues.
Every name R2A tracks in Mega-Cap Tech. Click any column header to sort.
| Ticker | Company | Call | Conviction | Last | R2A FV | Moon |
|---|---|---|---|---|---|---|
| AMZN | Amazon AWS + Anthropic + Retail | Buy | ●●● High | $268.26 | $432.00 | — |
| MSFT | Microsoft Hyperscaler / AI Platform | Buy | ●●● High | $414.44 | $701.00 | — |
| GOOGL | Alphabet (Class A) Search + AI + Cloud + Waymo | Buy | ●●● Medium | $385.69 | $468.00 | — |
| META | Meta Platforms Social + AI + Reality Labs | Buy | ●●● Medium | $608.74 | $945.00 | — |
| AAPL | Apple Consumer Hardware + Apple Intelligence | Hold | ●●● Medium | $280.14 | $387.00 | — |
| NFLX | Netflix Streaming | Hold | ●●● Medium | $92.06 | $120.00 | — |
| ORCL | Oracle Cloud Infra / DB | Hold | ●●● Medium | $171.85 | $222.00 | — |
| UBER | Uber Mobility / Delivery | Hold | ●●● Medium | $75.13 | $100.50 | — |
| CRM | Salesforce SaaS Platform / Agentic AI | Hold | ●●● Low | $183.77 | $208.00 | — |
| INTU | Intuit Fintech SaaS | Hold | ●●● Low | $399.04 | $480.00 | — |
| SHOP | Shopify E-comm Platform | Hold | ●●● Low | $127.67 | $145.00 | — |
| SPOT | Spotify Audio Streaming | Hold | ●●● Low | $441.62 | $585.00 | — |
| BABA | Alibaba China Ecomm / AI Cloud | Sell | ●●● High | $131.46 | $135.00 | — |
| BIDU | Baidu China Search / AI / AV | Sell | ●●● High | $125.88 | $111.00 | — |