Newly released investing visuals ✨ One pagers: • $MU • $SOFI • $TEM Updated $AMD, $NVDA, $MSFT & $NBIS Business battles: • $ALAB vs $CRDO • $GOOGL vs $META How they make money: • $COHR • $LITE • $META • $AMZN • $AMD • $MSFT Link in bio for all visuals!

Honest question for $SPCX shareholders: what’s your bull case? Let’s assume $SPCX delivers outstanding results and stock price followed fundamentals, with their multiple staying flat from current levels. Let’s assume they become the biggest company in the world and overtake $NVDA. That’s roughly a 2x from current levels, at best? I think the upside from here is (very) capped and the easy money is already made by early investors (pre IPO), but curious to hear other opinions.

Elon Musk became the world’s first trillionaire today. In 10 years, his net worth grew from $10B to $1000B 🤯

SpaceX is now worth more then all other aerospace businesses combined.

$MU net income growth is insane: • Q1 2025: $1.5B • Q2 2025: $1.8B • Q3 2025: $3.2B • Q4 2025: $5.2B • Q1 2026: $13.7B From $1.5B → $13.7B in just 5 quarters.

Just a few month ago, I added $ALAB to my portfolio as an underappreciated AI connectivity play. It's now up 175% I trimmed it down a bit lately, but along with $CRDO, it's still my favorite pick in the AI connectivity theme.

Why I won’t buy the SpaceX IPO: • Revenue grew only 15% in Q1 2026 • It has 23B in long term debt • At a $1.75T valuation, it would trade at roughly 100x trailing revenue At such a high multiple, with a sub optimal growth rate and a not so great balance sheet, I see very little upside. There might be a short term pump, but I would not be surprised to see the stock move lower in the months and years ahead as the IPO is used as exit liquidity for early investors. Additionally, 64% of IPOs underperform the market in the 3 years after going public. So the odds are stacked against you when buying at IPO.

Stock price can be a very powerful driver of narratives. Interestingly, the stock market is the only place where people get excited when prices go up and stressed when they drop. Don’t let stock price fool you. Stock prices and business fundamentals can diverge in the short term. Over the long term, they always follow fundamentals.

Happy Tuesday 🥂

SpaceX will IPO in three days. Who currently own it: • Elon Musk: 42% • Founder Fund (Peter Thiel): 10% • Google Ventures: 7% • Others: 30%

$INTC is up 10% on reports that $GOOGL and $NVDA consider Intel as a "backup" chip manufacturer. The great resurrection of $INTC.

Semi's took a hit Friday but many are still up >100% YTD: $SNDK 466% A flash storage behemoth whose NAND and controller technology underpins SSDs and removable storage across PCs, servers, and data centers. $HXSCL 205% Leading producer of DRAM and NAND and one of the primary suppliers of high bandwidth memory for AI GPUs. $ARM 198% Licenses the processor architecture that powers nearly every smartphone and an expanding share of data center, automotive, and edge AI chips. $MRVL 194% Develops custom AI accelerators, networking silicon, and storage controllers for hyperscalers, increasingly embedded in the core of cloud AI infrastructure. $MU 173% Manufactures DRAM and NAND flash memory, with high bandwidth DRAM for AI training and inference driving a powerful upcycle in pricing and margins. $INTC 152% Designs and manufactures CPUs for PCs and servers while rebuilding its foundry business to become a second source to $TSM for advanced chips. $LITE 123% Builds optical transceivers and photonic components that move data inside and between AI data centers, riding the surge in bandwidth demand. $AMD 107% Designs high performance CPUs and GPUs for data centers, gaming, and PCs, steadily gaining server share and expanding its AI accelerator lineup. $COHR 93% Supplies lasers, optics, and photonics components used in chip manufacturing, optical communications, and industrial applications. $ALAB 76% Provides AI oriented data center hardware and connectivity solutions, giving cloud customers higher performance at lower power budgets.