Gap up or down—doesn’t matter to me because as a genuine long term investor, I keep buying and accumulating along the way.

$ASTS Investment Thesis: Strong Buy 1.AST SpaceMobile earns a Strong Buy rating as it transitions from concept risk to execution risk, targeting global mobile coverage via satellite-to-smartphone connectivity. 2.ASTS leverages carrier partnerships—nearly 60 MNOs covering 3 billion subscribers—and aims to deliver broadband, not just emergency messaging, directly to standard smartphones. 3.FCC approval, a robust $3.46 billion liquidity position, and a $150 million–$200 million 2026 revenue outlook support rapid constellation deployment and network scaling. 4.Execution risk remains, but ASTS offers rare asymmetric upside as it industrializes its orbital cellular infrastructure with high-profile partners and regulatory momentum.

MLCCs: The “Rice of Electronics” Becomes a Power Bottleneck in the AI Era When the market talks about AI servers, the focus usually goes to GPUs, HBM, CoWoS, PCBs, CCLs, optical modules, and liquid cooling. But as AI systems evolve from single servers into rack-scale, and eventually data-center-scale architectures, another long-overlooked component is moving back to the center of the industry’s attention: MLCCs, or multilayer ceramic capacitors. open.substack.com/pub/tspase…

TSMC Preparing for Full-Scale Mass Production of "Panel-Level Packaging (PLP)" Semiconductors TSMC is set to go head-to-head with Samsung Electronics using "panel-level packaging (PLP)," a next-generation semiconductor packaging technology. PLP can significantly improve the productivity of AI chip manufacturing, and with TSMC hurrying to ready mass production, a contest for leadership with Samsung Electronics—which entered the market first—looks inevitable. According to industry sources on the 15th, TSMC is building out a materials, components, and equipment (MCE) supply chain to establish its PLP mass-production system. It is currently in discussions with domestic and overseas MCE companies on equipment investment. TSMC is reported to be planning to begin PLP mass production as early as next year, and this is read as a move in earnest toward that goal. PLP is a technology in which a semiconductor wafer with circuitry already formed is cut into individual chips (dies) and then packaged on a rectangular panel to produce the finished product. It contrasts with "wafer-level packaging (WLP)," which is performed on a round wafer. When chips are packaged on a circular wafer, the edge regions cannot be completed into chips and must be discarded—meaning lower productivity. Running the process on a rectangular panel instead allows chips to be produced with no wasted area. Based on a standard 600×600 mm rectangular panel, roughly five to six times as many chips can be produced compared with the mainstream 300 mm (12-inch) wafer. The company holding the upper hand in PLP technology is Samsung Electronics. After acquiring the PLP business from Samsung Electro-Mechanics in 2019, it has built up technical capability by applying PLP to mobile application processors (APs) and power management ICs (PMICs). TSMC, by contrast, had been passive on PLP, given that it had secured its foundry competitive edge with conventional WLP. But the situation reversed as the AI chip market grew explosively—PLP can increase AI chip output and is also advantageous for realizing large-area AI chips. Accordingly, TSMC began pursuing the PLP business from 2024. It is expected to build and run a pilot production line this year and, following performance evaluation, enter large-scale production around next year. It is also reported to have already secured a global AI chip customer. As TSMC accelerates toward PLP mass production, competition with Samsung Electronics is expected to intensify further. Samsung, too, plans to expand PLP application beyond its existing APs and PMICs to high-performance computing (HPC) chips such as AI semiconductors. Glass substrates, which are drawing attention as a substrate for AI chips, are also likely to be adopted in this PLP process—a point that suggests a leadership battle between Samsung Electronics and TSMC in the next-generation substrate market as well. An industry official said, "Not only Samsung Electronics and TSMC, but also global outsourced semiconductor assembly and test (OSAT) companies have jumped into the PLP process market in large numbers," adding that "along with fierce competition, market growth is expected."

$TSEM quietly fixed the part of silicon photonics nobody wants to model: material access. The $IQE deal locks InP epiwafer supply and ends the IP fight, which matters more than another AI headline. If optical I/O moves from promise to procurement, scarce substrate control becomes pricing power.

Yep, very stupid to be a bear. When Trump is doing everything to boost markets before Midterms. On top, your $WOLF power semi basket should go brrr from 800 VDC acceleration. $LITE optical basket should go brrr from InP easing. $SPCX successful IPO gives more appetite to risk on themes/IPOs (eg. Space sector). And overall macro go brr from War/Strait peace deals. It’s already kind of showing, since 2026 rate hike odds also crashed from 65% -> 35% following the news. Along with crude futures dropping. I've actually found Europe to be the most price sensitive to Iran tensions, so EU markets would probably be the most bullish overall… (South Korea/TW was originally with Sk Hynix moving directly in correlation to crude oil futures, but stopped caring after awhile). But basically: Murica go brrrr.

looks like infineon, $NVTS and $WOLF(if you have balls) are the best 800V play

$TOYO Up 250% over the past year. Down 10% this week. One of the more interesting disconnects in U.S. solar manufacturing. Last week A company valued at roughly $500M just announced a $357M investment into a new 1.5GW HJT solar cell facility in Houston. That’s more than 60% of its entire market cap being deployed into expansion. Here I am reminding you about this company again. Repost. Bookmark. Subscribe to support. Everyone talks about $FSLR, $CSIQ, tariffs, domestic content requirements, and the future of U.S. solar manufacturing. Almost nobody talks about $TOYO. That’s what makes it interesting. At roughly a $500M market cap, TOYO remains one of the smallest publicly traded ways to gain exposure to the reshoring of solar manufacturing in the United States. The market currently values TOYO like a small solar manufacturer. Management increasingly sounds like a company trying to build a vertically integrated U.S. solar platform. And the numbers are starting to support that narrative. Q1 2026 revenue grew 177% YoY to $142.8M. Net income improved to $28.4M. Gross margins remained strong at roughly 33.5%. Management reaffirmed 2026 guidance for: • 5.5–5.8GW of solar cell shipments • 1.0–1.3GW of solar module shipments • $90–100M adjusted net income More importantly, demand continues to accelerate. Last week TOYO announced approximately $185.6M in master supply agreements with major U.S. solar developers. Projects span Texas, New York, and Maine. Those orders provide visibility into future revenue while supporting the company’s module shipment ramp. The market tends to focus on reported revenue. The smart money watches future revenue. That’s where backlog, purchase agreements, and production capacity become important. The bigger catalyst may be TOYO’s decision to aggressively expand U.S. manufacturing. The company plans to build a 1.5GW HJT solar cell facility adjacent to its Houston module operations. HJT technology is expected to be among the highest-efficiency solar technologies deployed in the U.S. The facility could also generate up to $60M annually in IRA production tax credits at full capacity. That’s a meaningful number relative to the company’s current valuation. The strategy is becoming increasingly clear. Build a domestic supply chain. Utilize non-Chinese wafer sourcing. Position products for domestic content requirements and FEOC compliance. Capture demand from developers seeking U.S.-friendly solar solutions. This is where the valuation disconnect starts becoming noticeable. $FSLR carries a market cap measured in the tens of billions. $CSIQ is valued around $1B. Many solar and energy-transition names command significantly higher valuations despite slower growth. $TOYO sits around $500M. Not $5B. Not $10B. Around half a billion dollars. The market is effectively assuming TOYO remains a niche solar manufacturer. The bull case is that management successfully executes the Houston expansion, converts growing demand into revenue, scales domestic manufacturing capacity, and becomes one of the more important U.S.-focused solar supply chain players over the next several years. If analyst estimates near $830–850M of 2026 revenue prove accurate, the stock appears inexpensive relative to its growth profile. That’s why some investors see asymmetric upside here. Not because TOYO is already operating at First Solar’s scale. @Twills08 @TapeVector Not because execution risk doesn’t exist. But because the valuation remains small compared to the opportunity management is pursuing. $SEDG $FSLR $TYGO $EOSE $NBIS $FCEL $FRMI $OKLO $HYLN $IREN But at roughly a $500M valuation, the market may not be fully pricing in what successful execution could look like. That’s the disconnect worth watching.

I want to make one thing clear about what happened last week with $MMA .. I alerted this in the .60s and it ended up running to 1.06 in a few days on nice volume. I was up over $250,000 and then Moomoo took away the buy button and the stock fell off the face of the earth. I ended up losing $162,000 on the play total, but it’s more than less another lesson that greed will kill you every single time. I could’ve at any time took $50,000/$100,000/$150,000/$200,000 profits, but I went with my own conviction and wanted more.. unfortunately some serious bad luck happened (it happens more often that you think in this industry) and I got myself bagged. The next part is the most important here.. no I am not holding this and bag holding and praying it comes back. I had hundreds of thousands into it and believe me when I tell you that I can find better opportunities to get my money back rather than bag holding a stock im red in. There are 10 opportunities per day to take advantage of, go find them instead of bag holding a play that may never come back.

$RFIL Earnings June 15th. Tomorrow. One of the more overlooked fiber infrastructure stories in the market. HAPPY SUNDAY X FAM REMEMBER $OCC YEAH YOU KNOW ME? Up 360% past year and overlooked. Almost nobody is looking at the companies actually connecting the data. Here I am reminding you again. Keep following for new ideas off most retails radar. Subscribe to support the grind! Everyone talks about $NVDA. $LITE. $NBIS Everyone talks about $GLW. Everyone talks about transceivers, optics, AI clusters, data centers, and hyperscale spending. Almost nobody talks about $RFIL. At roughly a $200M market cap, RF Industries sits at the intersection of fiber optics, telecommunications infrastructure, edge data centers, aerospace communications, and thermal management. The market still largely views RFIL as a traditional telecom supplier. The numbers are quietly improving. FY2025 revenue increased 24% to $80.6M. Gross margins expanded from 29.1% to 33.2%. The company swung from an operating loss in FY2024 to an operating profit in FY2025. Q1 FY2026 gross margins expanded another 250 basis points to 32.3%. Adjusted EBITDA increased 22% YoY. Non-GAAP net income reached $659K. Most importantly, backlog continues moving higher. Q1 backlog stood at $14.4M. Shortly after quarter-end it climbed to approximately $18.6M. That’s where the backlog story becomes interesting. But the bigger story may be the evolution of the business itself. RFIL is no longer relying solely on traditional telecom spending cycles. The company has expanded into: • Aerospace and satellite cabling • Mission-critical military and government applications • Hybrid fiber power solutions • Edge data centers • Direct Air Cooling systems • Broadband and wireline infrastructure The aerospace opportunity may be bigger than most investors realize. RFIL has now secured multiple follow-on orders totaling more than $4M from what management describes only as a “leading aerospace company.” Not a one-time order. Repeat business. Mission-critical custom cabling designed for extreme environments, including radiation resistance, temperature fluctuations, weight reduction, and high-reliability communications. Defense platforms. $LMT $NOC The products RFIL builds fit directly into the infrastructure required by companies like $ASTS, $RKLB, and potentially even $SPCX. No, there is no public confirmation tying RFIL to any of those names. But that’s precisely what makes the opportunity interesting. The space economy is expanding rapidly. Thousands of satellites are being launched. Direct-to-cell networks are being built. Rocket launches continue accelerating. RFIL doesn’t need to be the prime contractor. It simply needs to be a trusted supplier of the critical components that make those systems function. Another underappreciated asset is RFIL’s relationship with $GLW. Through its subsidiary operations, RFIL holds Corning Gold certification, one of the highest levels of qualification within Corning’s fiber ecosystem. That gives $RFIL credibility, access to premium fiber solutions, faster fulfillment capabilities, and positioning within one of the most important optical networking ecosystems in the world. This is where the valuation disconnect starts showing up. $GLW carries a market cap north of $60B. $AAOI is valued in the billions. $CIEN, $LITE, $APH and other connectivity leaders command significantly larger valuations due to their perceived exposure to networking and AI infrastructure growth. $RFIL sits around $200M. Not $2B. Not $20B. Just a few hundred million dollars. Tomorrow’s earnings matter less for the quarter itself. $RFIL is helping build the fiber, cabling, cooling, and connectivity infrastructure that allows those systems to communicate, Satellites too. That’s the disconnect worth watching.

Explain why panel-level packaging is the future in one picture:

$COHU 5% yesterday. Testing 26-year highs. DONT MISS X FAM Everyone talks about GPUs. Almost nobody talks about the companies making sure those GPUs actually work. $AEHR $TER $AMKR $FORM all getting attention in silicon testing bottleneck. Cohu ($COHU) sits in one of the most overlooked bottlenecks in semiconductors: testing, thermal management, inspection, and yield optimization. Some things that stood out: • Top-3 global semiconductor test handler provider with ~20-28% share of a $2.1B market. • Global leader in RF power amplifier testing used in 5G and automotive systems. • Roughly 14% share of the global test contactor/socket market. • ~60% of revenue comes from recurring sources including consumables, spares, services, software, and maintenance. Q1 2026: • Revenue: $125.1M ( 29% YoY) • Orders: 57% YoY • Test handler orders: 54% • Inspection/metrology orders: 64% • Cash & investments: $489M Management raised FY26 growth outlook to 20-25%. The AI story is getting bigger too. Cohu increased expected HPC revenue to $80M-$100M in 2026 and expanded its AI/HPC addressable market estimate to roughly $750M. That’s a massive jump from prior expectations of just $25M-$30M. Why? Their Eclipse platform is designed for next-generation AI processors that generate enormous amounts of heat during testing. Their T-Core thermal systems provide the precision temperature control needed for AI accelerators, GPUs, and HPC processors where thermal issues directly impact yields. In May, they secured major Diamondx platform orders tied to Gallium Nitride (GaN) power devices being deployed throughout AI data center power infrastructure. Another overlooked catalyst: In 2025 they acquired Tignis for $40M. Tignis brings AI-powered digital twins, predictive maintenance, machine learning analytics, and yield optimization software that is now integrated into Cohu’s DI-Core platform. Instead of simply testing chips, they’re increasingly using AI to predict failures before they happen. This gives them exposure to both semiconductor equipment and semiconductor software. Meanwhile HBM demand continues ramping. Their NEON inspection platform is positioned around HBM3 and HBM4 production with AI-powered optical inspection, metrology, and yield analytics. The market still largely views COHU as a cyclical semiconductor equipment company. But the business is increasingly becoming an AI infrastructure enabler with exposure to HPC processors, HBM memory, GaN power systems, advanced packaging, factory AI software, and high-margin recurring revenue. Everyone knows $NVDA. Few are looking at the companies that test the chips, manage the thermals, inspect the memory stacks, optimize yields, and keep production moving. That’s where $COHU plays. A picks-and-shovels AI infrastructure name sitting underneath the semiconductor supply chain. $MRVL $ICHR $VECO $AMD $AAOI $POET $MU $AVGO $ONTO $LITE If management executes, the valuation gap between how the market views COHU and what the business is becoming may be the opportunity.

$SPCX debuts at a ~$2.3T valuation 🚀 and every other space stock gets torched. $RKLB $ASTS $RDW $LUNR $PL $FLY all down double digits. 👀 This is the siphon effect and it's the opportunity, not the end. Here's what's next 👇 What just happened: capital rotated OUT of the listed space names and INTO the marquee IPO. Classic sell-the-news. It hit stocks that were already up 300% on the year, so it's a reversal off strength, not a broken thesis. What it misses: → $SPCX listing doesn't make $RKLB's Neutron or $ASTS's direct-to-cell network worse businesses. It validates the entire $28T space TAM they all operate in. → Most people can't get $SPCX shares -> allocation is tiny. The listed names are the ACCESSIBLE way to own the space buildout. → $SPCX barely competes head-to-head with the differentiated names. Different orbits, different markets. The pattern: a marquee IPO siphons the sector on debut day, then the real businesses with their own catalysts recover as the liquidity comes back. Everyone's chasing the $2T name they can't get. I'm watching the ones that just went on sale. 👀

Just a short opinion piece on whether AI is a bubble: The bubble case mainly stems from one argument: hyperscaler CAPEX outpacing near term ROI. That argument is not crazy. The CAPEX numbers are real, and also the revenue lag is real. The main reason it’s not a bubble to me? This is a sovereign race, not a corporate capex cycle. Every major government has now framed AI as a national priority. The US, China, EU, India, the Gulf states are all spending into this with strategic intent. Whoever runs the best models reaps the productivity lift, the defence advantage, and the export leverage. It’s very similar to the space race previously, except now the impacts are more broad based. Countries do not opt out of arms races to wait for better unit economics. That is the floor forming the foundation AI CAPEX, which is direction of the state. On top of that: Corporate capex is not funded like 1999. Over $400B combined annual operating cash flow from MSFT, GOOG, META, AMZN Roughly one-third reinvested into AI infrastructure Nvidia at ~25x forward earnings, Microsoft at ~30x. Elevated, not Cisco at 200x. Dotcom was VC dollars chasing companies with no revenue. Whereas this is profitable monopolies reinvesting their own free cash flow. Additionally, demand surface is broad. > Physical AI in robotics and manufacturing > Drug discovery and diagnostics > Fraud detection and underwriting > Code generation > Defence, logistics, energy, agriculture > and many more These applications are already shipping across the economy. That does not mean every AI stock is a buy. There will always be names trading on vibes that get cut in half. But the structural setup is not 1999. Your job as a good investor is to find the companies that benefit from this tailwind the MOST, and aggressive aggressively if you want to escape the permanent underclass which will be an implication of AI (imo). That is my goal for the next 5-10 years. Just my 2c. Thanks for reading.

The most dangerous day in markets isn’t the crash. It’s the green week before it when every position works, every dip gets bought, and a voice says “you’re better at this than you thought. Size up.” Twenty-six years of running money and businesses taught me to treat that voice as data. Not about the market -> about me. Feeling invincible isn’t insight; it’s the same brain state as not being able to judge risk. But here’s the other half, and it matters just as much: investing is buying great businesses - great future growth, great executive teams - and owning them. Once you’ve done the work and earned conviction, don’t let noise and price scare you out, either. Euphoria sizes you up. Fear shakes you out. Both are the same mistake: letting emotion, not analysis, make the decision. Tudor Jones said play great defense and defense cuts both ways. Protect your capital from your greed and your conviction from your fear.