Artificial Intelligence & Compute
The AI compute and infrastructure complex — silicon, cloud and the platforms monetising it.
Meta Platforms (META)
The bull case — 'AI Ads Monetize' (10% weight) — targets $880, +56% vs spot. It needs the multiple to hold or expand.
Godaddy Inc (GDDY)
The bull case — 'Bull — Re-Rate' (8% weight) — targets $154, +81% vs spot. It needs the multiple to hold or expand.
Skyworks Solutions Inc (SWKS)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $123, +81% vs spot. It needs the multiple to hold or expand.
Qualcomm Incorporated (QCOM)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $328, +78% vs spot. It needs the multiple to hold or expand.
NVIDIA Corporation (NVDA)
The bull case — 'Supercycle Extended' (7% weight) — targets $380, +90% vs spot. It needs Revenue Growth to surprise to the upside.
NXP Semiconductors NV (NXPI)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $488, +74% vs spot. It needs the multiple to hold or expand.
VeriSign Inc (VRSN)
The bull case — 'Bull — Re-Rate' (8% weight) — targets $455, +81% vs spot. It needs the multiple to hold or expand.
Analog Devices Inc (ADI)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $682, +72% vs spot. It needs the multiple to hold or expand.
Microchip Technology Inc (MCHP)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $157, +72% vs spot. It needs the multiple to hold or expand.
First Solar Inc. (FSLR)
The bull case — 'IRA Extended + AI Power' (10% weight) — targets $400, +70% vs spot. It needs the multiple to hold or expand.
ON Semiconductor Corporation (ON)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $160, +69% vs spot. It needs the multiple to hold or expand.
Alphabet Inc. (GOOGL)
The bull case — 'Cloud + Waymo Win' (10% weight) — targets $470, +32% vs spot. It needs the multiple to hold or expand.
Akamai Technologies Inc (AKAM)
The bull case — 'Bull — Re-Rate' (8% weight) — targets $202, +71% vs spot. It needs the multiple to hold or expand.
Texas Instruments Incorporated (TXN)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $507, +70% vs spot. It needs the multiple to hold or expand.
Qnity Electronics, Inc (Q)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $281, +72% vs spot. It needs the multiple to hold or expand.
Broadcom Inc (AVGO)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $646, +71% vs spot. It needs the multiple to hold or expand.
Monolithic Power Systems Inc (MPWR)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $2,134, +54% vs spot. It needs the multiple to hold or expand.
KLA Corporation (KLAC)
The bull case — 'Bull — Supercycle Re-Rate' (8% weight) — targets $458, +52% vs spot. It needs the multiple to hold or expand.
AAPL: a real growth inflection — but the stock has already paid for it
iPhone +22%, China +30%, Services at a record. Real inflection — but triangulated fair value (~$279) sits just below spot. HOLD.
ServiceNow: Institutional Investment Research
An institutional-grade research report on ServiceNow, evaluating the company's competitive positioning, AI integration strategy, and investment thesis.
The SaaSpocalypse & The HALO Trade
Two converging narratives are reshaping the investment landscape: the structural disruption of SaaS by AI agents, and the massive capital rotation toward Heavy Assets, Low Obsolescence companies. Five investment scenarios for 2026–2031.