noLimit46/iStock via Getty Images Lumentum Holdings Inc. ( LITE ) is a photonics company converting laser chips, assemblies, optical circuit switches, and co-packaged-optics into servicing the current AI demand supercycle. Current AI data centers and future physical AI demand both create a powerful backdrop for what could be continued momentum compounding for the company's investors. Yet, it has a...
noLimit46/iStock via Getty Images Lumentum Holdings Inc. ( LITE ) is a photonics company converting laser chips, assemblies, optical circuit switches, and co-packaged-optics into servicing the current AI demand supercycle. Current AI data centers and future physical AI demand both create a powerful backdrop for what could be continued momentum compounding for the company's investors. Yet, it has a >100x forward non-GAAP P/E, which is demanding to say the least. The stock price has literally ripped since July 2025. I think LITE stock can rise further if the 90% Q3 growth and $960M-$1.01B Q4 guide endure, but the critical risk is valuation multiple compression and an uncertain macro valuation backdrop that indicates over-exuberance on the AI trade. The momentum, though, will likely continue until true signs of capex moderation and token-usage moderation. And likely also not stop until interest rates are raised by the Fed. That said, I expect a slowing of the momentum and would not be surprised to see a price recalibration. Furthermore, the greatest momentum players are going to have trailing or targeted stops or defined exit strategies. You think they'll get burned on the way down, but the best won't. It's only the fools who buy in at the top and sell at the bottom, which are actually quite rare, who will get burned. Pros have made a lot of money here and will have made a lot of money when the first momentum wave of the AI multiboom concedes to the value players. Momentum is yin to value's yang. Data by YCharts The Light Bottleneck Meets Valuation Realism Most AI investors already understand GPUs, but the next constraint looks more like it will be optical throughput. Lumentum is really well-positioned in this regard, and NVIDIA Corporation's ( NVDA ) $2B investment and multi-billion-dollar purchase commitment validate the bottleneck. Even if the valuation already prices in major success, and even though it seems totally irrational, I would not be surprised to see LITE...
owngarden/E+ via Getty Images I previously rated Argan, Inc. ( AGX ) as a Hold in March 2026, given the mixed risk/reward prospects from the overly done upward momentum and the increasingly expensive valuations. In this article, I shall discuss why AGX remains a Hold here, attributed to the minimal margin of safety from the outsized YTD stock price rally. AGX Proves Their AI Beneficiary Status AGX...
owngarden/E+ via Getty Images I previously rated Argan, Inc. ( AGX ) as a Hold in March 2026, given the mixed risk/reward prospects from the overly done upward momentum and the increasingly expensive valuations. In this article, I shall discuss why AGX remains a Hold here, attributed to the minimal margin of safety from the outsized YTD stock price rally. AGX Proves Their AI Beneficiary Status AGX 1Y Stock Price (Trading View) Since my last Hold rating, the bulls have continued to prove my prior Hold rating wrong, as AGX delivers an outsized stock price rally of +22.6% compared to the wider market at +15.9%, with a similar outperformance also observed in some of its construction company peers in varying degrees. 1. AI/Power Generation Capex Beneficiary Part of the optimism embedded in the recent rally is likely attributed to the Q1'26 earnings season reiterating the durability of compute demand as numerous hyperscalers guide multi-billion dollar data center capex trends . "In an environment where power demand is growing exponentially and a generation of power facilities reaches the end of useful life," it is unsurprising that AGX has proven to be a beneficiary of the heightened power generation infrastructure construction activities. The same has been observed in 92% of their backlog supporting " the electric economy " through renewable projects and natural gas-fired power plants, with the multi-year backlog stretching through 2029 offering interested investors with a great insight into their multi-year profitable growth prospects. 2. FQ1'27 Metrics Discussed The same has been observed in AGX's robust FQ1'27 performance metrics across: the accelerating revenue growth to $290.95M (+50.2% YoY) against a year ago at +22.8% YoY , the richer adj EBITDA margin of 19.4% (+3.1 points YoY/+8.6 from FY2019 levels of 10.8% ), and the adj EPS of $3.24 (+102.5% YoY) against a year ago at +175.8% YoY, with it underscoring their ability to opportunistically capitalize on the growi...
In recent trading, shares of Texas Instruments Inc. (Symbol: TXN) have crossed above the average analyst 12-month target price of $288.92, changing hands for $290.90/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade
In recent trading, shares of Texas Instruments Inc. (Symbol: TXN) have crossed above the average analyst 12-month target price of $288.92, changing hands for $290.90/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade
narvo vexar/iStock via Getty Images Chinese biotech Zai Lab Limited ( ZLAB ) announced late Monday that Chinese regulators approved its antibody-drug conjugate Tivdak, developed with Pfizer ( PFE ) and Genmab ( GMAB ), as a late-line treatment for adults with cervical cancer. Specifically, China’s National Medical Products Administration has cleared the Biologics License Application for Tivdak, ta...
narvo vexar/iStock via Getty Images Chinese biotech Zai Lab Limited ( ZLAB ) announced late Monday that Chinese regulators approved its antibody-drug conjugate Tivdak, developed with Pfizer ( PFE ) and Genmab ( GMAB ), as a late-line treatment for adults with cervical cancer. Specifically, China’s National Medical Products Administration has cleared the Biologics License Application for Tivdak, targeted at adults with recurrent or metastatic cervical cancer who have previously undergone chemotherapy. The decision is supported by data from a global Phase 3 trial called innovaTV 301, which indicated that the injectable led to a benefit in overall survival compared to chemotherapy in the targeted patient population, including a subset of Chinese patients. An estimated 150K patients are diagnosed with cervical cancer in China each year, with those having the recurrent or metastatic forms of the disease having to deal with the cancer progression due to limited treatment options. In 2022, Zai Lab ( ZLAB ) received exclusive licensing rights to develop and commercialize Tivdak in mainland China, Hong Kong, Macau, and Taiwan as part of an agreement with Seagen, which Pfizer ( PFE ) acquired in 2023 for $43B. More on Pfizer, Zai Lab Pfizer Inc. (PFE) Presents at Goldman Sachs 47th Annual Global Healthcare Conference 2026 Transcript Pfizer Inc. (PFE) Presents at Jefferies Global Healthcare Conference 2026 Transcript Pfizer: Reduced TrumpRx/Patent Risks Meet Accretive M&A Efforts - Reiterate Buy Pfizer says mid-stage trial data support monthly dosing for GLP-1 therapy Three studies used to justify U.S. vaccine policy under RFK Jr. face scrutiny: Guardian
In recent trading, shares of Synaptics Inc (Symbol: SYNA) have crossed above the average analyst 12-month target price of $126.45, changing hands for $136.00/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valu
In recent trading, shares of Synaptics Inc (Symbol: SYNA) have crossed above the average analyst 12-month target price of $126.45, changing hands for $136.00/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valu
In recent trading, shares of FDXF (Symbol: FDXF) have crossed above the average analyst 12-month target price of $173.60, changing hands for $178.77/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or
In recent trading, shares of FDXF (Symbol: FDXF) have crossed above the average analyst 12-month target price of $173.60, changing hands for $178.77/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or
In recent trading, shares of Camden Property Trust (Symbol: CPT) have crossed above the average analyst 12-month target price of $112.94, changing hands for $112.97/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade
In recent trading, shares of Camden Property Trust (Symbol: CPT) have crossed above the average analyst 12-month target price of $112.94, changing hands for $112.97/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade
MF3d/E+ via Getty Images Shares of Broadcom ( AVGO ) sold off sharply following the release of its Q2 2026 earnings, which failed to provide a guidance lift that investors were looking for. The stock is up 14.8% since my last report outperforming the S&P 500’s 10.7% return. We even note that the stock hit a high of $495 which exceeded my $414.47 target indicating a 21% gain. In this report, I anal...
MF3d/E+ via Getty Images Shares of Broadcom ( AVGO ) sold off sharply following the release of its Q2 2026 earnings, which failed to provide a guidance lift that investors were looking for. The stock is up 14.8% since my last report outperforming the S&P 500’s 10.7% return. We even note that the stock hit a high of $495 which exceeded my $414.47 target indicating a 21% gain. In this report, I analyze the Q2 2026 earnings which I believe did not provide a reasonable foundation for lower share prices. Broadcom’s Narrowly Beats Estimates Broadcom earnings (Broadcom (Earnings release)) Second quarter sales rose 48% year-on-year and 15% sequentially to $22.2 billion exceeding analyst estimates by $115.1 million . AI revenues were $10.8 billion marking 143% year-on-year growth with $4.2 billion in non-AI sales and $7.2 billion in software business sales marking 17% growth in annual recurring revenues. Gross profits grew 51.2% year-on-year and 17.2% sequentially to $15.4 billion. Gross margins reached 69.5% and 76.1% on adjusted basis. There was a year-on-year margin decline of 1.9 points. That should not be seen as a bad thing as we are seeing more chip sales these days that come at a lower margin by nature. The company is simply seeing changes in it sales and gross profit composition, but is overall growing total dollar profits. Operating income grew 85% year-on-year and 26% sequentially to $10.8 billion with operating margins expanding 9.8 points year-on-year and 4.3 points sequentially to 48.6% with adjusted operating margins being 67.3%. EBITDA grew 52% to $15.2 billion indicating EBITDA margins of 69%. Earnings per share of $2.44 beat by $0.04 or 1.8%. What we see is that revenues and earnings grew strongly driven by AI, but also the non-AI semiconductor sales seemed to be picked up and there is a place for software in the form of VMware in the AI stack. However, analysts were largely anticipating the expected results resulting in a 0.5% beat on revenues and a slight...
MF3d/E+ via Getty Images Shares of Broadcom ( AVGO ) sold off sharply following the release of its Q2 2026 earnings, which failed to provide a guidance lift that investors were looking for. The stock is up 14.8% since my last report outperforming the S&P 500’s 10.7% return. We even note that the stock hit a high of $495 which exceeded my $414.47 target indicating a 21% gain. In this report, I anal...
MF3d/E+ via Getty Images Shares of Broadcom ( AVGO ) sold off sharply following the release of its Q2 2026 earnings, which failed to provide a guidance lift that investors were looking for. The stock is up 14.8% since my last report outperforming the S&P 500’s 10.7% return. We even note that the stock hit a high of $495 which exceeded my $414.47 target indicating a 21% gain. In this report, I analyze the Q2 2026 earnings which I believe did not provide a reasonable foundation for lower share prices. Broadcom’s Narrowly Beats Estimates Broadcom earnings (Broadcom (Earnings release)) Second quarter sales rose 48% year-on-year and 15% sequentially to $22.2 billion exceeding analyst estimates by $115.1 million . AI revenues were $10.8 billion marking 143% year-on-year growth with $4.2 billion in non-AI sales and $7.2 billion in software business sales marking 17% growth in annual recurring revenues. Gross profits grew 51.2% year-on-year and 17.2% sequentially to $15.4 billion. Gross margins reached 69.5% and 76.1% on adjusted basis. There was a year-on-year margin decline of 1.9 points. That should not be seen as a bad thing as we are seeing more chip sales these days that come at a lower margin by nature. The company is simply seeing changes in it sales and gross profit composition, but is overall growing total dollar profits. Operating income grew 85% year-on-year and 26% sequentially to $10.8 billion with operating margins expanding 9.8 points year-on-year and 4.3 points sequentially to 48.6% with adjusted operating margins being 67.3%. EBITDA grew 52% to $15.2 billion indicating EBITDA margins of 69%. Earnings per share of $2.44 beat by $0.04 or 1.8%. What we see is that revenues and earnings grew strongly driven by AI, but also the non-AI semiconductor sales seemed to be picked up and there is a place for software in the form of VMware in the AI stack. However, analysts were largely anticipating the expected results resulting in a 0.5% beat on revenues and a slight...
In recent trading, shares of Avantor Inc (Symbol: AVTR) have crossed above the average analyst 12-month target price of $9.67, changing hands for $9.69/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation,
In recent trading, shares of Avantor Inc (Symbol: AVTR) have crossed above the average analyst 12-month target price of $9.67, changing hands for $9.69/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation,
SweetBunFactory/iStock via Getty Images Shares of Photronics, Inc. ( PLAB ) are down 20% since my last coverage in December as an FQ2 earnings miss tanked its stock 48% from the $56 all-time high it reached prior to the earnings release. Photronics' FQ2 earnings, which missed analysts' estimates and its own guidance, highlighted a major bottleneck of slower-than-expected design releases, which is ...
SweetBunFactory/iStock via Getty Images Shares of Photronics, Inc. ( PLAB ) are down 20% since my last coverage in December as an FQ2 earnings miss tanked its stock 48% from the $56 all-time high it reached prior to the earnings release. Photronics' FQ2 earnings, which missed analysts' estimates and its own guidance, highlighted a major bottleneck of slower-than-expected design releases, which is the primary driver of IC photomask sales. Although the IC segment is expected to remain muted in FQ3, I'm forecasting a slight rebound in FQ4 as design releases appear to be rebounding, with the company seeing a recovery in tape-out activity since early May. This can be confirmed with the recent tape-out of Tesla's ( TSLA ) AI5 chip and the expected tape-out of Samsung's Exynos 2800 2nm chip this year. Meanwhile, Photronics' long-term opportunity has expanded recently with Samsung and SK Hynix expanding their photomask outsourcing down to 7nm nodes. With the company's capacity and capability expansion projects in the US and South Korea tracking to be completed by late FY 2026 and FY 2027, respectively, I believe Photronics is well-positioned for growth acceleration and margin expansion through FY 2028 at least. On another note, Photronics' high-end FPD segment is emerging as a revenue anchor after growing 21% YoY in FQ2. The renewed growth of this segment coincides with the company's latest capability upgrade at its South Korean facility after installing the world's most advanced FPD mask writer. This new tool could drive high-end FPD growth over the coming quarters since it expands Photronics' exposure to G8.6 AMOLED, which is increasingly being adopted in high-end consumer electronics. Given this expected growth acceleration over the next 2 years and the stock trading near book value, I believe Photronics is a bargain at current levels, which is why I'm reiterating my buy rating for the stock. However, I'm lowering my long-term price target to $58, which still implies 101...
Klarna Group Plc is launching savings accounts in the US as the digital lender looks to deepen its core banking business and attract more everyday users. The Stockholm-based fintech is launching a high-yield savings product with an annual percentage yield of as much as 3.28%, according to an emailed statement. Such accounts are designed to allow customers that use Klarna for spending to also hold ...
Klarna Group Plc is launching savings accounts in the US as the digital lender looks to deepen its core banking business and attract more everyday users. The Stockholm-based fintech is launching a high-yield savings product with an annual percentage yield of as much as 3.28%, according to an emailed statement. Such accounts are designed to allow customers that use Klarna for spending to also hold savings with the firm. “The average American earns less than 0.5% on their savings, not because better options don’t exist, but because their bank hasn’t had to compete,” Klarna Chief Executive Officer Sebastian Siemiatkowski said in the statement. Most savings accounts in the US typically offer low returns, though many banks have launched high-yield accounts with low minimum deposits. Marcus by Goldman Sachs Group Inc. currently pays an annual yield of 3.4%, while SoFi Technologies Inc. is offering up to 3.8% for six months. Klarna, known for offering buy-now-pay-later loans, is looking to grow in the US and compete with more mainstream banks. The firm is offering its savings accounts through a partnership with the Federal Deposit Insurance Corp.-insured WebBank. In the first three months of this year, Klarna’s revenue rose to $1 billion, up 44% from the year prior, thanks to rising interest income and an increase in sign-ups for Klarna’s debit card and fee income from partnerships.
Company Records 250,000 Patient Visits in First Six Months Since AMD Purchase, Then Triples to 750,000 in the Following Six Months VANCOUVER, BC / ACCESS Newswire / June 9, 2026 / UniDoc Health Corp. (CSE:UDOC)(FRA:L7T)(OTCQB:UDOCF) ("UniDoc" or the ...
Company Records 250,000 Patient Visits in First Six Months Since AMD Purchase, Then Triples to 750,000 in the Following Six Months VANCOUVER, BC / ACCESS Newswire / June 9, 2026 / UniDoc Health Corp. (CSE:UDOC)(FRA:L7T)(OTCQB:UDOCF) ("UniDoc" or the ...
Jordan Siemens/DigitalVision via Getty Images Introduction I 'm about to turn 31 this month, which means I 'm many decades away from the legal retirement age in my country. And, to be honest, I don 't have any goals to retire. While I could retire early, I have to say that even on days when I'm technically not very busy, I still find ways to work on my business and related things. That 's why I of...
Jordan Siemens/DigitalVision via Getty Images Introduction I 'm about to turn 31 this month, which means I 'm many decades away from the legal retirement age in my country. And, to be honest, I don 't have any goals to retire. While I could retire early, I have to say that even on days when I'm technically not very busy, I still find ways to work on my business and related things. That 's why I often joke that if someone were to wire me $50 million, I would do exactly what I'm doing right now, except from a different location and with a fancy car. I would keep my Casio, though. As much as I love luxury watches, mine is back in the drawer, as I recently bought a new cheap Casio, the best watch I've ever owned. It 's more accurate than a $500,000 Patek, has more functionalities than a Jacob & Co., and never runs out of juice (solar). But I digress. I still think a lot about retirement. Especially since AI became a thing, I knew that my industry was about to change in a very meaningful way. That's one of the reasons I often tell young people to invest every penny they can spare. Job security is a thing of the past, even if the disruption is slow. I don 't think anyone under the age of 60 has ever experienced this kind of change in the labor market. Here's the University of Michigan "expected change in employment" component of the consumer sentiment report: University of Michigan Although I feel that I 'm in a good spot now due to my business, relationships, and general way of dealing with the stock market and disruption, I'm always working on a plan B to build a portfolio that protects my family and me in case it 's ever required. The other reason is that many of my readers and subscribers are retired. They have very different goals than I do, which I obviously address, often with a Big Picture approach, as I don 't analyze a stock before I know exactly where I should look for value (that 's the top-down approach). In this article, I 'm going to tell you how I 'm prepa...
MercadoLibre (NASDAQ: MELI) stock has had a tough year. While the S&P 500 has gained 24%, MercadoLibre stock has lost 34.5%. But has the stock been oversold? Eight-five percent of covering analysts say to buy the stock right now, and the lowest price target from any Wall Street analyst suggests a 9% upside over the next year. One analyst, Hector Maya from Scotiabank, sees it heading to $2,800, a 7...
MercadoLibre (NASDAQ: MELI) stock has had a tough year. While the S&P 500 has gained 24%, MercadoLibre stock has lost 34.5%. But has the stock been oversold? Eight-five percent of covering analysts say to buy the stock right now, and the lowest price target from any Wall Street analyst suggests a 9% upside over the next year. One analyst, Hector Maya from Scotiabank, sees it heading to $2,800, a 72% increase from today's price. Is he right? MercadoLibre hasn't taken a break from high growth for years. It's an e-commerce and financial technology (fintech) company in Latin America, a region that's underpenetrated in both sectors, and it's benefiting as the countries it serves continue to embrace new technology. Continue reading
The company is clearly trying to make an example of the author who wrote about her time at the company. Her free speech should be protected This year’s Hay festival concluded with a strange spectacle. I was on a panel about the dangers of excessive tech power, alongside former Meta employee Sarah Wynn-Williams – who sat without saying anything on the advice of her lawyer. She had been silenced by ...
The company is clearly trying to make an example of the author who wrote about her time at the company. Her free speech should be protected This year’s Hay festival concluded with a strange spectacle. I was on a panel about the dangers of excessive tech power, alongside former Meta employee Sarah Wynn-Williams – who sat without saying anything on the advice of her lawyer. She had been silenced by Meta’s legal threats to bankrupt her if she spoke. Wynn-Williams has written a book, Careless People , about her time at Meta (then Facebook), where she was an early director of global public policy. In the tradition of such books (usually written by former government officials), it is in parts flattering, more often critical and, above all, insightful. Prof Tim Wu is professor at Columbia University Law School and the author of The Age of Extraction: How Tech Platforms Conquered the Economy and Threaten Our Future Prosperity Continue reading...
In this article .NDX .SPX .KS11 .STOXX .IXIC Follow your favorite stocks CREATE FREE ACCOUNT A bull statue and a bear statue stand outside the Frankfurt Stock Exchange on April 7, 2025 in Frankfurt, Germany. Florian Wiegand | Getty Images News | Getty Images Global stock markets edged higher on Tuesday, marking a tentative recovery from a bout of volatility led by an aggressive sell-off in global ...
In this article .NDX .SPX .KS11 .STOXX .IXIC Follow your favorite stocks CREATE FREE ACCOUNT A bull statue and a bear statue stand outside the Frankfurt Stock Exchange on April 7, 2025 in Frankfurt, Germany. Florian Wiegand | Getty Images News | Getty Images Global stock markets edged higher on Tuesday, marking a tentative recovery from a bout of volatility led by an aggressive sell-off in global technology names. Friday saw U.S. equities come under pressure, led by a sharp downward turn in chip stocks. The negative momentum bled into Asian trade, while European tech stocks also took a beating. It came after a downbeat earnings report from Broadcom sparked a rotation out of AI-linked stocks. By Tuesday, global shares appeared to be recovering from the sell-off. U.S. stock futures were last seen trading broadly higher, with futures tied to the tech-dominated Nasdaq 100 adding 0.7%. European tech stocks were on track for their second consecutive day of gains, with the regional Stoxx 600 Technology index clawing back a fraction of the losses incurred on Friday, while South Korea's tech-heavy Kospi index jumped more than 8% on Tuesday following two days of losses. 'Volatility is the price of admission' Although many investors remain bullish on equities, there are expectations of more turbulence on the ride to greater returns. Robert Edwards, Chief Investment Officer at Florida-based Edwards Asset Management, said in a note that the tech stock pullback was "a gift for investors." "We remain buyers on the dips," he said, describing market movements as a "sawtooth pattern." "Sharp pullbacks have been met with aggressive buying because investors, despite the noise, know that strong fundamentals, including strong revenue and earnings growth, remain in place," he said. "This is what bull markets in their prime look like, featuring violent moves higher and lower, which can be uncomfortable, but the overall trend is upward." Edwards Asset Management, which manages assets worth ...
Friday’s bloodbath for the tech and semiconductor stocks might have left a scar on the AI trade, but it might not take all too long for the wounds to heal, especially after an upbeat Monday session that saw semiconductors lead the comeback. Undoubtedly, investors are going to need to make room in their portfolios for ... Interest Rate Jitters Just Crashed the Tech Rally — Here’s What I’d Lean Towa...
Friday’s bloodbath for the tech and semiconductor stocks might have left a scar on the AI trade, but it might not take all too long for the wounds to heal, especially after an upbeat Monday session that saw semiconductors lead the comeback. Undoubtedly, investors are going to need to make room in their portfolios for ... Interest Rate Jitters Just Crashed the Tech Rally — Here’s What I’d Lean Toward and What I’d Fade When Yields Spike