Equinix is a real estate investment trust focusing on interconnected data centers. EQIX develops data center platforms and architecture for businesses involved in cloud software, IT, financial services, and mobile services. The company offers secure networks and cloud-neutral data platforms, and is leveraged to the secular transition away from on-premises data centers to cloud colocation centers. The company provides over 460,000 interconnections and operates more than 260 data centers on six continents, in over 72 global metro areas, and over 33 countries with a growing focus on hyperscale centers. About half of centers are wholly owned. Of current world-wide revenue, about 70% is from colocations. Approximately 45% of current revenue comes from the Americas, 33% from EMEA, and 23% from the Asia-Pacific region. The top 10 customers account for under 17% of MRR. Current expansion is focused on Africa, Asia, and South America. EQIX shares are a component of the S&P 500. The market cap is $73 billion.

The last trading week of August started with a mixed bag. On Monday (8/26/2024), the Nasdaq and the Nasdaq 100 were dragged down from the start due to a tough day for semiconductors. The iShares Semiconductor ETF (SOXX) fell 2.5% and was sitting on short-term support from its 10- and 21-day exponential moving averages. The SOXX has had a big recovery since the August 5 intraday low, so it's not surprising that some anxiety was building. Discretionary also fell due to weakness in Tesla. Energy led the 11 S&P 500 sectors, as crude oil (WTI) bounced for a third day. Crude was back up to $77/barrel from a low last week of $71.46. The oil chart is a mess, with prices chopping around from the low $60s to the mid-$90s since the summer of 2022. Other sector strength was seen from the defensive Staples and Utilities groups, with minor gains in Materials, Financials, and Communication Services. A fair amount of people in the financial world have said that the S&P 500's almost full recovery from the pullback in the second half of July into early August has been too fast. But quick recoveries and 'V' bottoms generally are quite bullish and often lead to additional all-time highs. On the weekly charts, we had quick recoveries in the latter part of 2023 and in April/May of this year. And let's not forget the recovery from the pandemic, the recovery in early 2019, the recovery in 2014, and the several recoveries in 2012.

Equinix operates 260 data centers in 71 markets worldwide. It generates 44% of total revenue in the Americas, 35% in Europe, the Middle East, and Africa, and 21% in Asia-Pacific. The firm has more than 10,000 customers, including 2,100 network providers, that are dispersed over five verticals: cloud and IT services, content providers, network and mobile services, financial services, and enterprise. About 70% of Equinix's revenue comes from renting space to tenants and related services, and more than 15% comes from interconnection. Equinix operates as a real estate investment trust.

Equinix operates 260 data centers in 71 markets worldwide. It generates 44% of total revenue in the Americas, 35% in Europe, the Middle East, and Africa, and 21% in Asia-Pacific. The firm has more than 10,000 customers, including 2,100 network providers, that are dispersed over five verticals: cloud and IT services, content providers, network and mobile services, financial services, and enterprise. About 70% of Equinix's revenue comes from renting space to tenants and related services, and more than 15% comes from interconnection. Equinix operates as a real estate investment trust.