“this is a big WWDC though. It really is … now it's 2026 and it's time to show their cards.”
Apple's make-or-break AI WWDC meets a stock up 50% on hope, leaving room only to disappoint.
“Apple rents Gemini to power Siri unbranded, making Google the AI brain of 2B+ devices and a recurring buyer.”
Apple rents Gemini to power Siri unbranded, making Google the AI brain of 2B+ devices and a recurring buyer.
“they waited until the final second until the technology was good enough. … when that releases, it's going to actually be good enough and we're going to see folding phones everywhere all of a sudden.”
Apple's folding phone arrives at the perfect technological moment and drives mass adoption of folding phones
“They just had AI server revenues up 750% year over year, went from a $1 billion business to a $16 billion business. This stuff is real.”
Dell AI server revenue up 750% YoY, $1B to $16B; the demand is real even with consolidation dips
“Micron's trading single-digit multiple … even though it's come up a lot”
Micron still at single-digit multiple after a huge run; pullbacks are run-of-the-mill consolidation, not a top
“as you consume more tokens, the amount of your database queries goes up … they've proven they're in the token flow, so they're starting to get some love from an AI multiple perspective”
Snowflake is in the AI token flow; more tokens means more database queries and a new AI multiple
“the front-facing solutions that they offer are more competitive with the models than something like Snowflake … I think that Salesforce competes a bit more. So it's going to be more challenging.”
Salesforce front-facing apps compete with the models, so it struggles to get in the token flow
“This is the cheapest multiple Nvidia has traded at in a decade right now. … I think their growth is going to continue to sustain.”
Nvidia at ~13x earnings for 70% growth is the cheapest in a decade with sustained growth and buybacks
“Software is trading— most software names are trading at a higher multiple than NVIDIA. … there's more room to the downside.”
Software still trades at a premium multiple to faster-growing NVIDIA, leaving room to compress below market.
“they just have to figure out ways to monetize everything that they're building … they may surprise some folks”
Meta must monetize $100B+ CapEx via AWS-style compute and enterprise; risky but may surprise.