Hey, it's Kramer, and this is my morning take on the market from today's CBC Investing Club morning meeting. We do have not a soggy day, a down day. It's a solid down day and it's led by the banks and a lot of it's still spillover from what we had with Huntington Bank, but a lot of it is also the interpretation of what's going to happen tomorrow with the Fed. I have been surveying things and telling Jeff that I think we've got to look for something to buy when it's down this much,

but it is still tricky to buy right now.

Well, it's always tricky ahead of the Fed meeting, right?

That's why I was surprised by how up the market is yesterday. If you take the two days together, yeah, if you take

the two days together pretty much around even or so, maybe flat to slightly down, but we'll see.

We do have, again, CPI tomorrow, Fed meeting tomorrow. The action would look a lot worse on an

index level if it weren't for Apple, which is actually much higher

today after WWDC. It followed the old playbook where it goes down on WWDC. Everyone writes,

oh, as expected, you know, whatever. And then it's, and then it's sourced the next day.

A great note yesterday about how this is upgrade city.

You have to. Yeah, no, I think that's so key because if you're working on a generation prior to the 15,

you're going to need to upgrade.

So if you think about all those new phones that were bought during COVID,

if you want these AI features, you're going to have to buy a new one.

So that supports this upgrade.

I don't want to call it super cycle thesis like Melius is saying.

I like that.

But a strong up cycle, which they sorely need to drive earnings higher.

There's too much verbiage about is this good AI or not.

Because what happens is until yesterday AI was about sales force

is about service now is about workday is about enterprise software this is personal software you can't

ask nobody wants a cell phone that's filled with enterprise software. That's the

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