Just_Super/iStock via Getty Images Financial Snapshot S-1, own estimates. Forecast methodology: 15% of $24.6bn RPO recognized in 2026-2027 per S-1 disclosure , 43% in 2028-2029. Gross margin expansion is driven by cloud services mix-shift and TSMC N3 transition on WSE-4. Investment Thesis The technology is real, the customer book is rich, but the entry price is not . Cerebras ( CBRS ) currently ru...
Just_Super/iStock via Getty Images Financial Snapshot S-1, own estimates. Forecast methodology: 15% of $24.6bn RPO recognized in 2026-2027 per S-1 disclosure , 43% in 2028-2029. Gross margin expansion is driven by cloud services mix-shift and TSMC N3 transition on WSE-4. Investment Thesis The technology is real, the customer book is rich, but the entry price is not . Cerebras ( CBRS ) currently runs Llama 4 Maverick at 2.4x the tokens-per-second of Blackwell B200 on a single wafer and has a $24.6bn of contracted RPO underwriting at least 3 years of revenue growth. The ~$85bn fully diluted market cap already prices in the OpenAI ramp, the UAE backlog conversion, and the cloud business scaling cleanly. None of those 3 has a public quarter of evidence yet. Customer concentration has moved sideways, not down . G42 fell from 85% of FY24 revenue to only 24% of FY25, but Mohamed bin Zayed University of Artificial Intelligence (MBZUAI, an affiliated UAE counterparty) absorbed the gap and represented 62% of FY25 revenue. This brings the combined UAE concentration to 86% in FY25. The OpenAI ramp diversifies away from the UAE but pushes new concentration onto a single AI lab whose compute strategy could shift. The OpenAI relationship is a real moat and a real binary . $20bn over 3 years for 750 MW of inference capacity is one of the single largest non-Nvidia AI infra contracts. OpenAI also has warrants on ~33m shares (potential ~11% stake) and a Master Relationship Agreement that influences Cerebras' hardware roadmap. If OpenAI's inference strategy shifts and tilts back to in-house silicon or Nvidia ( NVDA ), Cerebras loses both the customer and architectural direction. Multiples are already stretched even on an FY28 anchor . At ~$280, the stock trades at 16x FY28E sales of $5bn. Nvidia is at ~10x FY27 sales with a 75% gross margin and proven through-cycle compounding; Broadcom ( AVGO ) is at ~14x with a custom ASIC moat and $80bn of FCF. Cerebras at ~16x on FY28 sales (i.e., ...
Settlement with the US government would create $1.7bn fund to compensate allies for supposed persecution Sign up for the Breaking News US newsletter email Donald Trump moved to dismiss a $10bn lawsuit against the IRS on Monday, dropping his claims amid reports he is considering a settlement with the federal government that would create a $1.7bn fund to compensate allies for supposed persecution by...
Settlement with the US government would create $1.7bn fund to compensate allies for supposed persecution Sign up for the Breaking News US newsletter email Donald Trump moved to dismiss a $10bn lawsuit against the IRS on Monday, dropping his claims amid reports he is considering a settlement with the federal government that would create a $1.7bn fund to compensate allies for supposed persecution by the government. The Monday filing came just two days ahead of a 20 May deadline in which the judge overseeing the case asked the parties for briefing on whether a legitimate controversy existed – a requirement for any lawsuit – because Trump controls the IRS. Continue reading...
Eminence Capital’s portfolio showed notable shifts in Q1 2026 compared to Q1 2025, with changes in position sizes and several new additions. The portfolio remains concentrated across consumer discretionary, technology, and industrial-related names. Sea Limited ( SE ) was among the top holdings, with shares rising 60% year-over-year to 4.07M. Amazon ( AMZN ) also saw increased allocation, with shar...
Eminence Capital’s portfolio showed notable shifts in Q1 2026 compared to Q1 2025, with changes in position sizes and several new additions. The portfolio remains concentrated across consumer discretionary, technology, and industrial-related names. Sea Limited ( SE ) was among the top holdings, with shares rising 60% year-over-year to 4.07M. Amazon ( AMZN ) also saw increased allocation, with shares up 41% to 1.54M. Performance Food Group ( PFGC ) climbed 76% to 3.72M shares, reflecting a notable build-up in the position. Coupang ( CPNG ) was a new addition during the quarter, with a position of 15.51M shares. Other new positions initiated in Q1 2026 include Synopsys ( SNPS ), Tenet Healthcare ( THC ), and Valvoline ( VVV ). Among other increases, Dynatrace ( DT ) rose 58% to 5.30M shares, while Workiva ( WK ) surged 195% to 2.52M shares. Louisiana-Pacific ( LPX ) increased 51% to 2.53M shares, and Asbury Automotive Group ( ABG ) rose 30% to 956.1K shares. Zillow Group ( Z ) also advanced 42% to 3.45M shares. On the trimming side, Advanced Micro Devices ( AMD ) was reduced 25% to 1.18M shares. Ferguson Enterprises ( FERG ) saw a 12% cut to 645.8K shares, while Liberty Media ( FWONK ) was marginally lowered by 1% to 1.98M shares. Overall, the fund increased exposure to several core holdings while adding new positions across technology, consumer, and healthcare names during the quarter. Check Seeking Alpha's quant rating on Eminence Capital's top 15 holdings: Sea Limited ( SE ) – Quant rating : 1.76 – Sell Amazon.com ( AMZN ) – Quant rating : 3.49 – Hold Performance Food Group Company ( PFGC ) – Quant rating : 3.51 – Buy Coupang ( CPNG ) – Quant rating : 2.75 – Hold Advanced Micro Devices ( AMD ) – Quant rating : 4.97 – Strong Buy Dynatrace ( DT ) – Quant rating : 3.12 – Hold Asbury Automotive Group ( ABG ) – Quant rating : 2.71 – Hold Louisiana-Pacific ( LPX ) – Quant rating : 1.40 – Strong Sell Synopsis ( SNPS ) – Quant rating : 4.41 – Buy Liberty Media ( FWONK) – Q...
KeyBanc just delivered one of the more eye-catching analyst calls in cybersecurity this month. The firm raised its price target on CrowdStrike (NASDAQ:CRWD) to $700 from $525 and reiterated an Overweight rating on the shares, citing improving demand signals tied to the company’s recent Mythos user conference. For prudent investors, the revision reframes CrowdStrike as ... KeyBanc Just Hiked CrowdS...
KeyBanc just delivered one of the more eye-catching analyst calls in cybersecurity this month. The firm raised its price target on CrowdStrike (NASDAQ:CRWD) to $700 from $525 and reiterated an Overweight rating on the shares, citing improving demand signals tied to the company’s recent Mythos user conference. For prudent investors, the revision reframes CrowdStrike as ... KeyBanc Just Hiked CrowdStrike Price Target to $700. Is Mythos the Real Catalyst?
gopixa/iStock via Getty Images What are the key changes in our global economic outlook this month? Higher-for-longer energy prices mean higher-for-longer inflation and lower-for-longer economic growth and our forecasts have been revised accordingly. At the time of writing, whether an agreement could be reached to end the conflict in the Middle East in the near future remained highly uncertain. Eve...
gopixa/iStock via Getty Images What are the key changes in our global economic outlook this month? Higher-for-longer energy prices mean higher-for-longer inflation and lower-for-longer economic growth and our forecasts have been revised accordingly. At the time of writing, whether an agreement could be reached to end the conflict in the Middle East in the near future remained highly uncertain. Even if a deal is struck soon – and holds, which is also uncertain – S&P Global Energy’s experts expect that it will take months for oil production and supply to start to normalize. What a new normal would look like for shipping security and costs in the Strait of Hormuz is also unclear. The price of Dated Brent crude is now expected to be above US$100 per barrel (/b) through the remainder of 2026. S&P Global Energy’s base case is predicated on the Strait of Hormuz remaining effectively closed through May, with flows expected to recover from June. In line with a later-than-previously-assumed reopening and recovery in oil production, Dated Brent crude is forecast to end this year well above the US$72/b projection in our April forecast round. The elevation of crude prices is now also expected to persist into next year. The result is annual average prices of Dated Brent in 2026 and 2027, respectively, around 100% and 60% higher than we had assumed in our pre-conflict forecast back in February. These changes are moving the macro needle. What are our expectations for inflation? Consistent with higher commodity price assumptions, our inflation forecasts have again been raised across the board, this time including for 2027. S&P Global’s Materials Price Index (MPI) forecasts have also been lifted compared to April. As of mid-May, the MPI was 40% above its level a year earlier, with recent increases in the index not confined to energy. Indeed, while the upward revisions to our consumer price inflation forecasts primarily reflect the impact of higher energy prices, there have also been ...
诉讼核心指控 Power Solutions International Inc．的投资者已收到多家律所的集体诉讼提醒。该诉讼指控公司在2025年5月8日至2026年3月2日的集体诉讼期内，对投资者作出了虚假和/或误导性陈述，主要涉及两点：一是夸大了其动力系统解决方案的销售需求能力；二是低估了为满足数据中心市场需求而提升制造产能的影响，包括预期成本和相关的“低效率”问题。 关键时间线与股价崩盘 诉...
诉讼核心指控 Power Solutions International Inc．的投资者已收到多家律所的集体诉讼提醒。该诉讼指控公司在2025年5月8日至2026年3月2日的集体诉讼期内，对投资者作出了虚假和/或误导性陈述，主要涉及两点：一是夸大了其动力系统解决方案的销售需求能力；二是低估了为满足数据中心市场需求而提升制造产能的影响，包括预期成本和相关的“低效率”问题。 关键时间线与股价崩盘 诉讼指出，真相在2025年11月6日开始浮出水面。公司发布的三季报显示，毛利率同比下降5.0%至23.9%，部分原因正是“关键数据中心产品线加速生产导致的临时性效率低下”。同时，公司预测全年销售增长45%，相比第二季度74%和第三季度65%的增速出现急剧放缓。受此影响，PSIX股价当日暴跌超19%。 更严重的打击发生在2026年3月2日。公司公布全年业绩，披露毛利率同比下降8%，同样归因于“数据中心产品线加速生产的运营效率低下”。公司对2026年的展望仅给出“温和的利润率改善”。这一消息导致股价单日暴跌近29%。截至2026年5月，已有多家律所代表投资者提起了证券欺诈集体诉讼。 首席原告截止日期 根据《私人证券诉讼改革法案》，在集体诉讼期内购买或收购了PSIX证券的投资者，有资格在2026年5月19日之前向法院申请被任命为该集体诉讼的首席原告。首席原告在指导诉讼方面具有关键作用。多家律所已敦促遭受重大损失的投资者尽快联系律师以讨论其权利。 责任编辑：张俊 SF065
Mohamad Faizal Bin Ramli/iStock via Getty Images If you have owned the Vanguard Growth Index Fund ETF ( VUG ), it was a good buy. I think now is a time to say goodbye. I initiated it in early December with a Sell, and it has increased since then, rising slightly more than the S&P 500. In this follow-up, I am downgrading it to Strong Sell. VUG Has A Lot To Like I sure like Vanguard! They offer a lo...
Mohamad Faizal Bin Ramli/iStock via Getty Images If you have owned the Vanguard Growth Index Fund ETF ( VUG ), it was a good buy. I think now is a time to say goodbye. I initiated it in early December with a Sell, and it has increased since then, rising slightly more than the S&P 500. In this follow-up, I am downgrading it to Strong Sell. VUG Has A Lot To Like I sure like Vanguard! They offer a lot of folks passive investments at a very low cost. VUG, which has tracked the CRSP US Large Cap Growth Index, will be tracking the same index that will be renamed by its owner, Morningstar, in July. The ETF will change names as well to Vanguard Morningstar Growth ETF. So, VUG is managed by an exceptional investment firm that has transitioned well from just mutual funds to a broader universe that includes ETFs. VUG, which currently has assets under management of about $228 billion at $87.43, has an extremely low management fee at 0.03%. It launched in 2004, so it has been around for more than two decades, but the fund is managed with Vanguard Growth Index Fund Admiral Shares ( VIGAX ), which was launched in 2000, and Vanguard Growth Index Fund Institutional Shares ( VIGIX ), which was launched in 1998. There is also a smaller fund, the Vanguard Growth Index Fund Investor Shares ( VIGRX ), which was launched in 1992. The mutual funds added about $150 billion to the ETF at the end of April. It's big, and it is inexpensive, and it has a long track record. Since inception, VIGRX has returned 3675.3% through the end of April. The ETF returns since its inception have been quite strong as well, with the ETF returning 1141.6%, according to the website that Vanguard hosts for it. Not surprisingly, Seeking Alpha readers follow VUG closely, with the total number of followers at 37,760 currently. The ETF holds 153 stocks that at the end of April had a P/E ratio, according to Vanguard, of 35X on a trailing basis and a price/book at 12X. The Quant Rating is 4.23, which is a Buy. This is d...
The headline numbers for the Ondas (ONDS) Q1 2026 report triggered typical market hesitation, driven by an operating loss of $42.7 million, an operating cash burn of $51.3 million, and a slight EPS miss of -$0.07 versus the -$0.06 consensus estimate. For casual observers, these figures support the bear thesis that an aggressive roll-up strategy involving a series of strategic acquisitions is creat...
The headline numbers for the Ondas (ONDS) Q1 2026 report triggered typical market hesitation, driven by an operating loss of $42.7 million, an operating cash burn of $51.3 million, and a slight EPS miss of -$0.07 versus the -$0.06 consensus estimate. For casual observers, these figures support the bear thesis that an aggressive roll-up strategy involving a series of strategic acquisitions is creating a highly capital-intensive corporate structure with significant near-term integration costs. How
Cuban Foreign Minister Says US Is Building 'Fraudulent Case' For Military Action Authored by Chris Summers via The Epoch Times (emphasis ours), Cuban Foreign Minister Bruno Rodríguez on May 17 said the United States is building a “fraudulent case” to justify economic war and eventual military intervention against the Caribbean island nation. Cuban troops participate in a military parade in honor ...
Cuban Foreign Minister Says US Is Building 'Fraudulent Case' For Military Action Authored by Chris Summers via The Epoch Times (emphasis ours), Cuban Foreign Minister Bruno Rodríguez on May 17 said the United States is building a “fraudulent case” to justify economic war and eventual military intervention against the Caribbean island nation. Cuban troops participate in a military parade in honor of former Cuban leader Fidel Castro at Revolution Square in Havana on Jan. 2, 2017. Yamil Lage/AFP via Getty Images His comments were a direct response to a report by Axios, which cited classified U.S. intelligence reports saying Cuba had obtained more than 300 military drones and had discussed using them against the U.S. military base at Guantanamo Bay, which is at the eastern end of the island. The Epoch Times is unable to verify the Axios report. “ Without any legitimate excuse, the #US government is building, day after day, a fraudulent case to justify a ruthless economic war against the Cuban people and eventual military aggression ,” Rodriguez said in a post on X. “Specific media outlets are playing along, promoting slander and leaking insinuations from the U.S. government itself.” The minister did not specifically mention the Axios report about military drones, and he did not formally deny that Cuba possessed such weapons, which have been used by both Russia and Iran, and Tehran’s proxies, in conflicts in recent years. “ Cuba does not threaten or desire war ,” Rodriguez added. “It defends peace and is willing and preparing to confront external aggression in exercise of the right to legitimate self-defense recognized by the UN Charter.” In a May 18 email to The Epoch Times, a U.S. State Department spokesperson said the U.S. president will always act “to protect Americans, our interests and our homeland from any threat.” “President Trump ... has taken historic action to rid our backyard of uncontrolled migration, dangerous narco trafficking, organized crime, and hostil...
In this video, I will go over 10 super investors' activities in the first quarter. What stocks they bought, and what they sold. Watch the short video to learn more, consider subscribing, and click the special offer link below.
In this video, I will go over 10 super investors' activities in the first quarter. What stocks they bought, and what they sold. Watch the short video to learn more, consider subscribing, and click the special offer link below.