. No other Tesla insiders bought during the period. These sales might look like a red flag at first glance. In reality, they trace back to how tech compensation works. Executives receive most of their pay in restricted stock units and options that vest after performance targets are met. Sales then cover tax bills and reduce personal concentration risk after years of explosive stock gains. Even after selling, many retain stakes worth hundreds of millions because the companies keep growing. Fundamentals That Keep Compounding – Sales or No Sales That said, the real story sits in the earnings releases, not the Form 4s. Nvidia’s fiscal 2026 fourth-quarter results delivered revenue of $68.1 billion, up 73% year over year, with data-center revenue at $62.3 billion, up 75%. Full-year revenue reached $215.9 billion, up 65%. Its forward P/E sits near 27 times estimates, below many semiconductor peers. For example, Apple’s fiscal 2026 first-quarter earnings showed revenue of $143.8 billion, up 16%, and diluted EPS of $2.84, up 19%. Trailing 12-month free cash flow stood at $123.3 billion. The stock trades at a trailing P/E of 32, below its three-year average of 33, while its 0.41% dividend yield and 13.7% payout ratio support ongoing buybacks. Amazon’s Q4 results posted net sales of $213.4 billion, up 14%, with AWS revenue at $35.6 billion, up 24% — the fastest clip in 13 quarters . Full-year AWS reached $128.7 billion, up 20%, on 35% operating margins. Operating cash flow rose 20% to $139.5 billion even as capital expenditures climbed. The trailing P/E of 29 sits well below its three-year average of 59. Microsoft’s fiscal 2026 Q2 results generated revenue of $81.3 billion, up 17%, with Intelligent Cloud up 29%. Non-GAAP EPS rose 24% to $4.14. The company lifted its quarterly dividend nearly 10% to $0.91, yielding roughly 0.98% on a low payout ratio. When stacked against competitors, the seven continue to outpace the market on revenue growth, cash generation, and AI-specific investment. Key Takeaway In short, do not follow the executives’ lead and sell. The $16.32 billion in net selling across six of the seven likely reflects routine tax and diversification moves after years of gains, not doubts about the businesses. Tesla’s net buying — limited to Musk’s single purchase tied to the pay-package vote — actually underscored alignment in that instance. The earnings data — specific revenue beats, margin stability, backlog growth, and cash flow expansion — support holding while adding on dips. Granted, valuations sit above long-term averages and heavy capital spending will pressure near-term free cash flow at a few names. That said, the 10-year outlook remains intact for investors who focus on the compounding moats in AI, cloud, and infrastructure. Sell only if you personally need the cash, not because of some Form 4 filings. About the Author