Sky-Blue Creative/iStock via Getty Images Investment Thesis In my last article about Credo Technology ( CRDO ), I had a debate about whether Credo is a one-product story (AEC) or an emerging connective platform. Seeking Alpha The market believes that Credo is an AI connectivity platform, given that its stock price has risen over 100% since then. I noted in my previous article that: Credo needs to ...
Sky-Blue Creative/iStock via Getty Images Investment Thesis In my last article about Credo Technology ( CRDO ), I had a debate about whether Credo is a one-product story (AEC) or an emerging connective platform. Seeking Alpha The market believes that Credo is an AI connectivity platform, given that its stock price has risen over 100% since then. I noted in my previous article that: Credo needs to prove that it can expand its product portfolio in order for investors to value the company with higher multiples,” And the answer came from Q4’26 results . In the present coverage, I analyze that CRDO has expanded its product portfolio and, even more significantly, anticipates its first revenue from optical products within FY2027. The real stock performance driver is not the company’s revenue growth but its guidance, in my view, which opens a new market and could diversify the company’s revenue streams. Credo Mainly Still is AEC Provider, but Will Be Connectivity Platform Soon Q4’26 Recap CRDO continues to deliver impressive revenue growth, with 157% YoY in Q4’26, following over 200% YoY growth in the previous quarter. Gross margin remains at a high level, reaching 68.3% in Q4, almost the same compared to Q3 at 68.6%. Q3’26 News Release Moreover, the operating margin was almost 50%, and the net margin was about 52%. Both margins are at very high levels and indicate its fabless, profitable business model — fabless means that Credo only designs its products, and the manufacturing takes place at third-party companies, mainly Taiwan Semiconductor Manufacturing Company ( TSM ). Notably, the company had $1.4B in cash with zero debt in Q4. In Q4, the company completed the acquisition of Dust Photonics, which will help CRDO to design and accelerate its optical products and transform it into a vertically integrated connectivity platform. What do I mean by saying connectivity platform? The company’s products aim to connect GPUs, CPUs, servers, switches, and generally AI racks within ...
Navitas Semiconductor (NVTS) is back in focus after Nvidia showcased the company’s 800 V to 6 V DC DC power delivery board at Computex 2026, alongside a fresh partnership on advanced AI data center infrastructure. See our latest analysis for Navitas Semiconductor. The latest Nvidia collaboration sits against a backdrop of sharp share price swings, with the stock down 18.23% over the past day but s...
Navitas Semiconductor (NVTS) is back in focus after Nvidia showcased the company’s 800 V to 6 V DC DC power delivery board at Computex 2026, alongside a fresh partnership on advanced AI data center infrastructure. See our latest analysis for Navitas Semiconductor. The latest Nvidia collaboration sits against a backdrop of sharp share price swings, with the stock down 18.23% over the past day but showing a 30 day share price return of 50.36% and a 1 year total shareholder return of 305.83%,...
Reports suggest SpaceX is targeting a valuation of $1.77 trillion. That's on the higher side of earlier reports, which speculated that the company would target a valuation somewhere between $1.5 trillion and $2 trillion. Many experts are sounding the alarm about this lofty valuation, especially considering SpaceX remains unprofitable to this day. A recent report from Morningstar , for example, val...
Reports suggest SpaceX is targeting a valuation of $1.77 trillion. That's on the higher side of earlier reports, which speculated that the company would target a valuation somewhere between $1.5 trillion and $2 trillion. Many experts are sounding the alarm about this lofty valuation, especially considering SpaceX remains unprofitable to this day. A recent report from Morningstar , for example, values the company at around $780 billion. Yet according to a recently disclosed prospectus, SpaceX believes it is chasing a total addressable market of $28.5 trillion. For a historical perspective, it's very reasonable to think that SpaceX's targeted $1.77 trillion valuation is scarily overpriced. That's because most of the company's potential has yet to be realized. Pricing the stock, therefore, becomes mostly a practice of what the company can become, not what it is today. Continue reading
Sundry Photography/iStock Editorial via Getty Images Investment Thesis The forward-looking setup for GraniteShares 2x Long INTC Daily ETF ( INTW ) is much less attractive than its TTM performance would suggest. INTW worked out spectacularly because of Intel's rally and participation in a very strong AI trend, allowing daily leverage to compound. However, the future is much less rosy than the price...
Sundry Photography/iStock Editorial via Getty Images Investment Thesis The forward-looking setup for GraniteShares 2x Long INTC Daily ETF ( INTW ) is much less attractive than its TTM performance would suggest. INTW worked out spectacularly because of Intel's rally and participation in a very strong AI trend, allowing daily leverage to compound. However, the future is much less rosy than the price would suggest since the same price has already baked in strong, if not near-perfect, performance. Intel is still not a profitable company; the top line has improved, and so have the Data Center and AI segments. However, the company is still unprofitable and highly capital-intensive. At current valuations, Intel needs continued execution, better unit economics/profitability, and sustained AI-related demand to justify its current valuation. If any of those weaken, a much more volatile trading environment can ensue. The new volatile trading environment for INTC and, by proxy, INTW allows shrewd traders to capture the volatility with leverage provided by the ETF without having to draw into their margin or deal with options. The next point of known interest is the upcoming earnings reports, which give traders a way to tactically plan a strategy to long or short INTW, given what will be reported and how the market will react to the report/guidance. What INTW Actually Is The GraniteShares 2x Long INTC Daily ETF is an actively managed ETF that seeks to act as a leveraged vehicle for the common stock of Intel ( INTC ). According to GraniteShares (the financial services company that runs the ETF), the fund seeks to be roughly double the daily results of INTC before any fees and expenses. After diving into the fund’s literature, I believe that the single most important takeaway for the reader is that INTW “should not be expected to provide 2 times the cumulative return of INTC for periods greater than a day.” The fund's objective is based only on the daily time frame, not weekly, mon...
Apps intended to replace branches have been hit by outages, as a poll finds most Britons want high street services With its windows blanked out, a poster pinned to the door of the Staines branch of Lloyds Bank tells its customers they can do their “everyday banking with our mobile banking app”. But not today. On Wednesday, when the Guardian visited Staines, they wouldn’t have got very far because ...
Apps intended to replace branches have been hit by outages, as a poll finds most Britons want high street services With its windows blanked out, a poster pinned to the door of the Staines branch of Lloyds Bank tells its customers they can do their “everyday banking with our mobile banking app”. But not today. On Wednesday, when the Guardian visited Staines, they wouldn’t have got very far because the Lloyds group was battling an IT outage that left thousands of its customers unable to make payments or send money. Continue reading...
In this week’s newsletter: The unprecedented success of Backrooms and Obsession has made stars of their creators. For the good of cinema, however, they’d do well to look beyond the genre going forward • Don’t get The Guide delivered to your inbox? Sign up here Did you go to the cinema this week? If you did, that rumbling you felt wasn’t down to those spicy nachos you ate. Well, it might have been ...
In this week’s newsletter: The unprecedented success of Backrooms and Obsession has made stars of their creators. For the good of cinema, however, they’d do well to look beyond the genre going forward • Don’t get The Guide delivered to your inbox? Sign up here Did you go to the cinema this week? If you did, that rumbling you felt wasn’t down to those spicy nachos you ate. Well, it might have been – but equally, you may just have been experiencing the tectonic shift suddenly under way in Hollywood. This was the week that two twentysomething YouTubers took over the box office with their horror films, upending all the industry rules and preconceptions in the process. At the top of the tree sits Kane Parsons, a 20-year-old phenom whose debut film, Backrooms – an A24 psychological chiller based on his own webseries, and inspired by a “creepypasta” horror story shared across the internet – has grossed a scarcely fathomable $140m worldwide in its first week. Just beneath Parsons, though a shade older at 26, is Curry Baker, a YouTube comic whose supernatural horror movie, Obsession , has enjoyed an almost unheard of week-on-week-on-week rise in ticket sales, and is on course to be one of the most profitable films of all time, having been made for a tiddly $750,000. That the pair have nudged Star Wars spin-off The Mandalorian and Grogu – a far more expensive movie that was expected to squat atop the box office for much of May and June – into third place only underscores what an unlikely cinematic revolution this is. Continue reading...
A week-long mountain trek with two young children felt like an ambitious undertaking – but they loved every minute It’s said the 19th-century Parisian flâneur , intent on not rushing past the beauties of the street, would take a tortoise on a lead to set the pace. I thought about this as my donkey bent his head to another thistle and I turned my attention to the view, waiting for him to finish. Ev...
A week-long mountain trek with two young children felt like an ambitious undertaking – but they loved every minute It’s said the 19th-century Parisian flâneur , intent on not rushing past the beauties of the street, would take a tortoise on a lead to set the pace. I thought about this as my donkey bent his head to another thistle and I turned my attention to the view, waiting for him to finish. Every way I looked, layers of mountains receded in deepening shades of eggshell blue. There were no sounds but the wind, the squeals of marmots and the giggles of my two young kids. I was extremely, uncomplicatedly happy. Our donkeys were on loan from Burrotrek, a small outfit run by Swiss-born Denise Wirth. Twenty years ago, Denise spent four and a half months walking the Camino from Switzerland to Santiago de Compostela with two donkeys. She liked Spain, and she loved donkeys, so she settled on the idea of offering donkey treks in the Pyrenees. She has not looked back. For much of the year she is based where she settled, near Cadaqués, and offers a variety of self-guided itineraries through the vineyards in the foothills and along the Mediterranean coast, with trips lasting between a day and a week. But for the summer months, when temperatures soar, she relocates with her donkeys to Cal Jan de la Llosa in the province of Girona, a gorgeous ruin of a farm several miles up an unpaved track. From here, she lends her animals to people who, for whatever reason, have a romantic notion of what it might be like to take a donkey up a mountain. Continue reading...
Five multiple-choice questions – set by children – to test your knowledge, and a chance to submit your own junior brainteasers for future quizzes Submit a question Molly Oldfield hosts Everything Under the Sun , a podcast answering children’s questions. Do check out her books, Everything Under the Sun and Everything Under the Sun: Quiz Book , as well as her new title, Everything Under the Sun: Al...
Five multiple-choice questions – set by children – to test your knowledge, and a chance to submit your own junior brainteasers for future quizzes Submit a question Molly Oldfield hosts Everything Under the Sun , a podcast answering children’s questions. Do check out her books, Everything Under the Sun and Everything Under the Sun: Quiz Book , as well as her new title, Everything Under the Sun: All Around the World . Continue reading...
From the ‘Intransigents’ to Simple Comforts and Cookery Bible, test your knowledge with the Saturday quiz 1 What began to tilt in 1178? 2 Which deep-sea fish attracts prey with a glowing lure called an esca? 3 Habitat 67 is a Brutalist housing development in which North American city? 4 Which founder member of the Football League no longer exists? 5 What was Barbara Castle’s 1969 plan to improve i...
From the ‘Intransigents’ to Simple Comforts and Cookery Bible, test your knowledge with the Saturday quiz 1 What began to tilt in 1178? 2 Which deep-sea fish attracts prey with a glowing lure called an esca? 3 Habitat 67 is a Brutalist housing development in which North American city? 4 Which founder member of the Football League no longer exists? 5 What was Barbara Castle’s 1969 plan to improve industrial relations? 6 Vasco Núñez de Balboa was the first European to see what? 7 Which artistic group were originally called the “Intransigents”? 8 Which 1963 fantasy film did Tom Hanks declare the “greatest movie ever made”? What links: 9 Simple Comforts; Cookery Bible; How to Be a Domestic Goddess? 10 I’m a Believer; I Wanna Be Yours; Feel Good Inc? 11 Champagne (Chekhov); Mozart (Mahler); veal pie (Pitt the Younger); whisky (Dylan Thomas)? 12 Altes; Bode; Neues; Pergamon? 13 Estonian; Finnish; Hungarian; Sámi? 14 Dupplin Moor; Halidon Hill; Culblean; Neville’s Cross? 15 Aird; Dickinson & Sawyer; Edgar; Hunt; Mundson; Poulain? Continue reading...
Relationship between Vladimir Putin and traditional ally has slowly unravelled under current PM Nikol Pashinyan The bottling line at the Abovyan cognac factory in Armenia is running at full tilt. Women in white coats and hairnets work the conveyor with practised speed – labelling, stacking, loading pallets – racing to fill a truck. Continue reading...
Relationship between Vladimir Putin and traditional ally has slowly unravelled under current PM Nikol Pashinyan The bottling line at the Abovyan cognac factory in Armenia is running at full tilt. Women in white coats and hairnets work the conveyor with practised speed – labelling, stacking, loading pallets – racing to fill a truck. Continue reading...
A fake alien made by a Doctor Who sculptor, animal organs sourced from a butcher, an actual magician behind the camera … this outrageous story makes for a great watch If you had to be interviewed on film, how would you hope to come across? Attractive, honest, a good egg? Or pathologically shifty, to the point that audiences want to throw their shoes at the screen? I found myself unlacing my Doc Ma...
A fake alien made by a Doctor Who sculptor, animal organs sourced from a butcher, an actual magician behind the camera … this outrageous story makes for a great watch If you had to be interviewed on film, how would you hope to come across? Attractive, honest, a good egg? Or pathologically shifty, to the point that audiences want to throw their shoes at the screen? I found myself unlacing my Doc Martens this week, watching a documentary about the biggest hoax of the last century. In 1995, a grainy film was released that purported to be of an autopsy conducted on a creature recovered from a crash site on military land in Roswell, New Mexico. The incident had long been hallowed in ufology, but no moving footage had ever been uncovered. You’ve seen it. Hazmat figures loom over a bulbous-headed humanoid, spreadeagled on the table. Its dead, oval eyes are black, mouth agape, belly distended. I saw the shocking footage again last night, or thought I did. It was actually my laptop screen going dark, after I fell asleep in front of Netflix. Continue reading...
Attributed to the president of Namibia, the speech is still being shared as citizens across Africa and the Caribbean cry out for moral leaders willing to speak uncomfortable truths For a moment, the speech attributed to Namibia’s president travelled across the world like a gust of hope. It was fierce. Defiant. Unapologetically sovereign. The speaker denounced corruption, condemned foreign exploita...
Attributed to the president of Namibia, the speech is still being shared as citizens across Africa and the Caribbean cry out for moral leaders willing to speak uncomfortable truths For a moment, the speech attributed to Namibia’s president travelled across the world like a gust of hope. It was fierce. Defiant. Unapologetically sovereign. The speaker denounced corruption, condemned foreign exploitation and declared that Africa’s resources belonged not to politicians or multinational corporations but to its people. Netumbo Nandi-Ndaitwah spoke of leaders who signed away national wealth behind closed doors and warned that those who betrayed the public trust would face accountability. It sounded like the language of decolonisation reborn. Across social media, many listened with admiration. Finally, here was a leader speaking with moral clarity. Here was the rhetoric that generations of postcolonial citizens had been waiting to hear. But there was one problem. It was fake. Nandi-Ndaitwah rejected it as an AI-generated fabrication. Continue reading...
Austria lost its last top credit score from a major assessor because of persistently high budget deficits, ending a decades-long streak as one of Europe’s best-rated issuers. Morningstar DBRS lowered Austria to AA (high) from AAA because of deteriorating debt metrics, according to an update published late Friday. The outlook is now stable. The decision means all five assessors used by the European...
Austria lost its last top credit score from a major assessor because of persistently high budget deficits, ending a decades-long streak as one of Europe’s best-rated issuers. Morningstar DBRS lowered Austria to AA (high) from AAA because of deteriorating debt metrics, according to an update published late Friday. The outlook is now stable. The decision means all five assessors used by the European Central Bank to gauge collateral no longer consider Austria’s public finances worthy of exemplary grades . That caps 14 years of erosion, beginning with the decision by S&P Global Ratings to downgrade the country during the region’s debt crisis. “Austria is running wider fiscal deficits than pre-pandemic largely due to durably higher expenditure levels,” DBRS said in its report. “Despite the government’s consolidation efforts, Austria’s debt trajectory ratio will remain on a slow upward trend.” The move will offer an additional sign of urgency for Finance Minister Markus Marterbauer , who is set to present a two-year budget to lawmakers on Wednesday after months of political wrangling. The three-way coalition of conservatives, social democrats and liberals aims to cut the deficit to below 3% of gross domestic product by 2028 in order to conform to European Union rules and exit its regime of fiscal scrutiny. Austria’s economy has struggled in recent years due to high energy costs that have lifted inflation and hurt competitiveness and growth. DBRS’s Max Dietz and Michael Heydt acknowledged that economic momentum “is gradually picking up.” “However, prolonged geopolitical tensions that result in higher-for-longer energy prices pose downside risks to both the growth and fiscal outlook,” it said. “Structural factors, including adverse demographic trends, increasing global competition in key manufacturing industries, and elevated energy and labor costs are expected to weigh on Austria’s medium-term growth prospects.” Read more: Amazon Tax Draws Enemies for Austria’s Most Popula...
Investing.com -- Yardeni Research said growing evidence suggests the artificial intelligence boom is extending beyond major technology companies and into the broader U.S. economy, supporting hiring, business formation, and investment despite ongoing geopolitical and inflation risks.
Investing.com -- Yardeni Research said growing evidence suggests the artificial intelligence boom is extending beyond major technology companies and into the broader U.S. economy, supporting hiring, business formation, and investment despite ongoing geopolitical and inflation risks.