Shay: AI Semiconductor Value Chain -- January 12, 2026

Locator: 49893CHIPS.

Link here. There are very few analysts that break out "EDGE." See this post.

Six New Permits; Three Permits Renewed; Two DUCs Reported As Completed; Huge Kellogg Ranch Well Reported By BR -- January 12, 2026

Locator: 49892B.

Sherwood: link here. A "Goldilocks" market today?

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Back to the Bakken 

WTI: $59.78.

Active rigs: 23. At recent record low. 

Six new permits, #42635 - #42640, inclusive:

• Operators: Phoenix Operating (5); Enerplus;
• Fields: Grenora (Williams County); Spotted Horn (McKenzie County);
• Comments:
• Enerplus has a permit for an MHA Sandhill wells, lot 4, section 4-149, 94, 
• to be sited 853 FNL and 1022 FWL;
• Phoenix Operating has permits for five Quarne / Quarne Fed wells, lot 4, seciton 2-159-103, 
• to be sited 425 FNL and 1225 / 1345 FWL

Three permits renewed:

• Lime Rock: one State permit; one Kary permit; and, one Emil Veverka permit. The State and Kary permits are for wells in Cabernet oil field; the Emil Veverka permit is for a well in Murphy Creek.

Two producing wells (DUCs) reported as completed:

• 40296, 4,704, BR, Kellogg Ranch 2A TFH, McKenzie County; 
• 40859, 504, BR, Kellogg Ranch 4D-MBH, McKenzie County; 

Well of interest:

• 37663, loc/A, BR, Kellogg Ranch 1B MBH, t5/25; cum 130K 11/25; full production profile, 40,459 bbls over 16 days extrapolates to 75,861 bbls over 30 days:

Pool	Date	Days	BBLS Oil	Runs	BBLS Water	MCF Prod	MCF Sold	Vent/Flare
BAKKEN	11-2025	30	18552	18532	13144	71838	71212	544
BAKKEN	10-2025	31	17359	17389	11473	63014	62452	520
BAKKEN	9-2025	29	19395	19369	12617	62123	61509	584
BAKKEN	8-2025	28	17673	17670	16571	54465	53907	530
BAKKEN	7-2025	20	16549	16467	15304	47014	46500	492
BAKKEN	6-2025	0	0	145	0	0	0	0
BAKKEN	5-2025	16	40459	40314	4496	123301	122032	1210
BAKKEN	4-2025	0	0	0	0	0	0	0
BAKKEN	3-2025	0	0	0	6654	0	0	0

Apple -- January 12, 2026

Locator: 49891APPLE.

Another partnership: Google and Apple.

Link here. 

Link here. 

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Cellphone Growth

Link here. 

Link here. 

MacRumors link here.

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Meawhile, Breaking Records in Services

Link here.
 

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Apple, Airlines, and Air Tags

Link here. 

 The 36 airlines listed at the site.

Some Cherry-Picked Tickers -- January 12, 2026

Locator: 49890INVESTING.

Micron:

Link here. Also, Shay here.

I really don't get it. Is Shay Boloor going to break out as this year's best investor?

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The Cherry-Picked Tickers

 

 

 

Is Costco Losing Its Mojo? January 12, 2026

Locator: 49889RETAIL.

Before we get started, this breaking news, link here: 

Now, back to our regularly scheduled programming.

Costco has been in the news lately. It falls in the "BRK" category for me. With thousands of tickers to choose from ....

Earlier (see this blog) I suggested that of the three things consumers look for (cost, quality, convenience) when shopping from the large, big-name retailers, convenience is the most important. 

Amazon and Walmart pretty much "neutralized" the cost argument. 

Quality is absolutely not a factor at all. Among the three leaders, they all have the same products (with some minor exceptions -- particularly when it comes to beef and wine, where Costco excels -- for the record I can't remember when I last bought beef or wine from Costco). 

It comes down to convenience. 

I would add that buying in bulk to save money is now a "negative" for most folks when shopping, and even if buying in bulk is important, one can out-Costco Costco by shopping at Amazon. Not only can you buy in bulk at Amazon, products are often heavily discounted at Amazon, and one can save even more by subscribing to a product. 

Instead of buying a twenty-weeks-supply of Bounty paper towels at Costco -- paying for twenty weeks all at one time, and then trying to find space at home for all those paper towels -- one can buy one or two rolls at a time at Amazon, have them delivered to your front door, and subscribe -- for which Amazon offers a discount -- and then "set it and forget it." I do that with Clorox cleaning supplies which arrives ever few weeks and I donate to the local elementary school if my wife doesn't intercept them first.

By the way, if one understands human behavior, buying in bulk is the worst way one can save money these days. Amazon subscription is without question, the best way, Especially if using the Amazon Prime credit card and getting another 5% cash back on every Amazon purchase (needs to be fact-checked).  

So, now, more from over the weekend. Regarding convenience and cost. 

Link here. 

E-commerce is growing at a rate of 10% year-over-year for almost all e-commerce retailers -- where, I assume, Gen Z shoppers make up the largest group of consumers.

Link here. 

All retail, not just e-commerce:

Website by number of visits: 

Investors in Costco have the same problem as investors in energy and BRK: they're older investors; have held those stocks for 50 years; and, can't afford to sell the tickers for two reasons:

• capital gains would be formidable; so, they will wait to die and let their heirs take the step-up value and sell;
• for energy, the dividends are worth way more than the underlying value; cost basis is literally zero for many and they're getting 4% (and better) dividends now and compared to their original dividends 50 years ago ...

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The Book Page

The Portable Dorothy Parker. 

Link here.