To The Moon

Why I Would DCA Into DRAM: AI Needs Memory, Not Just Powerful Chips When people talk about the AI boom, NVIDIA and the latest AI processors usually get most of the attention. But I think there is another part of the AI infrastructure story worth watching: memory. AI models need to process enormous amounts of data, and that creates demand for memory technologies such as high-bandwidth memory (HBM), DRAM and NAND flash storage. As AI workloads become more demanding, memory performance and capacity can become important constraints on the overall system. That is why DRAM is the ETF I would choose for dollar-cost averaging (DCA). Instead of trying to predict which individual memory company will outperform, I can get exposure to a group of companies operating in this part of the semiconductor in

The AI Cloud Shakeout: Revenue Is Growing, but Who Can Afford to Survive? The AI infrastructure boom has created an unusual investment question: if demand for computing power is so strong, why are investors increasingly worried about the companies building it? The answer, in my view, is that demand alone does not guarantee attractive returns. AI cloud providers must spend heavily on GPUs, data centres, electricity and networking before they can turn computing capacity into revenue. If financing costs rise, customers delay spending or hardware becomes outdated faster than expected, a company can grow rapidly while its financial position becomes more fragile. That is why I think the recent contrast between SpaceX, CoreWeave and Nebius deserves attention. The real dividing line may not be whi

Tesla’s Robotaxi Dream Is Big. But Where Is the Proof of Profit? Tesla shares can rally on the promise of what the company might become, not just what it earns today. That is what makes the Robotaxi story interesting to me, but also what makes it difficult to value. The bull case is easy to understand. If Tesla can operate a large fleet of autonomous vehicles, collect fares throughout the day and serve customers without paying a human driver for every trip, the economics could eventually look very different from those of a traditional carmaker. Robotaxi revenue could also give Tesla another source of income beyond selling vehicles, while its AI capabilities could support future projects such as Optimus. But there is a big difference between a business with enormous potential and one that h

Earnings Night: Am I Investing in the Business or Betting on the Next Move? Every earnings season brings back the same dilemma: should I hold my stocks overnight, take some profits, or keep cash ready for a potential buying opportunity? Personally, I don’t think there is one answer that works for every stock. A company can be doing well and still see its share price fall after earnings. Sometimes the results are disappointing; other times, the business performs reasonably well but fails to meet the market’s already-high expectations. That distinction matters. The stock market doesn’t reward a company simply for doing well. It rewards performance relative to what investors were expecting. I would hold, but only when I understand what I own If I bought a company because I believe its busines

Would I Hold a Stock Overnight Before Earnings? It Depends on What I’m Risking Honestly, I don’t think holding a stock overnight before earnings is necessarily brave, and selling beforehand doesn’t mean someone lacks conviction. Both decisions can make sense. What matters is whether the potential reward is worth the risk of waking up to a price move I didn’t expect. Earnings announcements are different from ordinary trading days. A company can report decent results and still see its share price tumble, while another can rally even after reporting a loss. The market isn’t reacting only to what has already happened. It’s reacting to whether the results and outlook are better or worse than investors had anticipated. That is why I wouldn’t make my decision based on the headline numbers alone.

Earnings Night: I Don’t Let One Report Decide My Investment Whenever a company is about to report earnings, I think the real question is not simply whether the stock will go up or down the next day. Nobody knows that with certainty. The more important question is whether I am comfortable with what could happen if the market reacts very differently from what I expect. Personally, I would not automatically sell just because earnings are coming, nor would I blindly hold every position and hope for the best. My decision would depend on why I bought the stock, how much it has already run up, and how much downside I can realistically accept. 1. If I bought for the long term, I would not panic over one night If I invested in a company because I believe its business can grow over the next three to

The Fed Held Rates, but Tech Stocks Still Have Something to Prove A rate pause should have been good news for growth stocks. Yet Wednesday’s market reaction was surprisingly restrained. The S&P 500 rose 0.28%, while the Nasdaq-100 gained around 0.55%. Underneath those modest moves, performance was mixed. AMD climbed 3.24%, while Nvidia slipped 1.17%. Then came the earnings reactions: Microsoft rose after reporting strong results, while Alphabet sold off sharply. To me, this is what makes the current market interesting. Investors are not treating technology stocks as one big trade anymore. They are becoming more selective about which companies deserve premium valuations and which ones need to prove that their AI investments will pay off. The Federal Reserve kept its benchmark rate at 3.

Microsoft vs Alphabet: AI Spending Is Growing. Where Is the Cash Return? The latest earnings from Microsoft and Alphabet highlight an important question for the entire AI trade: how much profit can companies generate from the enormous amounts they are spending on AI infrastructure? Microsoft delivered a strong quarter, with revenue of $92.3 billion and adjusted earnings per share of $4.89. Azure revenue grew 48% year over year. Yet the market’s reaction was not simply a celebration of those numbers. Alphabet reported $127.58 billion in revenue, but its results missed analyst expectations on key measures. Its shares came under pressure after the announcement, while Microsoft’s shares moved higher in the post-earnings reaction. To me, the divergence shows that investors are becoming more sel

Stocks to Watch Today: AI Memory Rally or Big Tech Reality Check? The market is giving investors two very different messages today. On one side, memory stocks are rallying on the back of SK Hynix’s record results and continued demand for AI infrastructure. On the other, investors are becoming more selective about how much technology companies are spending on AI — and whether those investments will generate enough returns. That makes today’s market interesting. I would not chase every stock that is moving higher. I would rather identify which companies have improving fundamentals and which ones need to prove that their valuations are justified. 1. Memory stocks: strong earnings, but how much optimism is priced in? Stocks to watch: SNDK, MU, SK Hynix SK Hynix reported record third-quarter re

Memory Stocks Are on Fire. Can SanDisk Deliver More Than the Market Expects? The memory trade is getting harder to ignore. SK Hynix has just reported record quarterly revenue of KRW 104.6 trillion and operating profit of KRW 83.3 trillion. Samsung Electronics has also reported Q3 revenue of KRW 195.3 trillion and operating profit of KRW 107.4 trillion. These are extraordinary results, reflecting the strength of demand for memory products as AI infrastructure spending continues to expand. Micron and SanDisk have also attracted buying interest as investors reassess how long the memory upcycle could last. But after such a strong run across the sector, I think the more important question is no longer whether memory demand is healthy. It is whether earnings can continue to surprise on the upsid