To The Moon

10-Year Yields being this high isn't bullish I know. But it doesn't trump the fact that we have companies like $NVIDIA(NVDA)$ literally forecasting FY28 revenue to be 60% higher than the Street. Remember 30-Year Yields hit 5.09% in October 2023. Were people panicking about yields then? Yes. Have people now missed out on generational runs because their focus was on the wrong thing? Yes. Don't lose focus on the unfathomable numbers we're likely to see in FY27-FY29 because you're being distracted by this constant bearish yield narrative. I remain long and I'll be happy buying up some quality names if markets stay spooked about the macro.

My 2033 take on who the largest 3 companies in the world will be: 1. $NVIDIA(NVDA)$: Absurd growth still for a +$5T company. - FY28 revenue will be ~$680B - FY30 revenue I forecast to be ~$1.2T - $10T MC seems pretty reasonable based on that. 2. $Amazon.com(AMZN)$: - AWS should be generating ~$1T in revs by 2035. - Include everything else (e-comm, digital ads, subscriptions, stakes etc) - $6-8T MC for $Amazon.com(AMZN)$ is feasible 3. $Eli Lilly(LLY)$: - FY26 already ~$86B. Metabolic franchise can be $150B+ by early 2030s - GLP-1 cash funds the real product:

Seeing lots of bullish takes on $Snap Inc(SNAP)$ post CEO comments. Here's some thoughts: 1. Zero CEO buys in the last few years. Only out of control SBC. 2. There's only so long investors can deal with weak margins. -> $Reddit(RDDT)$ has 33% FCF margins and 45% net income margins. -> $Snap Inc(SNAP)$ has 7.4% FCF margins and 14% net income margins. They're the two MAIN issues amongst a few others. The positive is if $Snap Inc(SNAP)$ and other can turn these around then the upside is pretty decent. Say

Let's get this straight: Michael Burry is short: -> $Oracle(ORCL)$: Reaccelerating revenue growth to +33% in FY27 and +46% in FY28 trading at 6x sales. -> $Palantir Technologies Inc.(PLTR)$: Rule of 40 score at 134 / PEG at ~1x -> $NEBIUS(NBIS)$: Compute demand far outweighing supply. Forecasting ARR $3B -> +$70B in 5 years. -> $NVIDIA(NVDA)$: Supply constrained and growing ~70% -> ~$680B in FY28 (7.9x FY28 sales) -> $Micron Technology(MU)$: Customers signing LTAs to 2030+ / Tradin

Mix of lower-beta and higher-beta names I'd prioritize today being bullish AI infra through to FY28. Lower beta: - $Amazon.com(AMZN)$: $1T in AWS revs forecasted by 2035. Current MC ~$2.8B (e-comm, digital ads, moonshot bets, Anthropic stake etc). - $NVIDIA(NVDA)$: 70% FY28 revenue growth despite being capacity constrained. Sub 0.3x PEG for FY28. - $Marvell Technology(MRVL)$: Jensen's "trillion dollar" company. $Alphabet(GOOGL)$ has option to buy $12.2B of the company which could translate to $120 billion in revs over the next 7 years. Medium-beta: -

Some higher beta stocks that are at...or very close to being great r/r: 1. $NEBIUS(NBIS)$: A top 10 position already for me. ARR is at $3B now and I'm modelling ~$70B for 2030. 2. $Credo Technology Group Holding Ltd(CRDO)$: I want a slightly lower price to add but forecasting ~$10 EPS in FY28 which is 70% CAGR from today which at 35x multiple (0.5x PEG) gives you a $350 stock. 3. $Bloom Energy Corp(BE)$: Incredible business inflection with operating income +700% and revs +166%. $NEBIUS(NBIS)$ has cancelled a combustion order to switch to

I don't see a world where $NVIDIA(NVDA)$ or $Amazon.com(AMZN)$ don't end up ~2x from where they are today. -> Nvidia: We have a supply constrained business growing ~90% in FY27 and +70% in FY28 with 55% net income margins meaning we're trading ~13.5x FY28 EPS. 13.5x FY28 EPS is literally sub 0.2x PEG (for FY28). -> Amazon Further down the road but AWS likely reaches $1T in revenue in the next 9 years as per my model. At $2.75T MC today with digital ads on track for being a $800B business, e-comm ~$800B, Anthropic stakes, Prime, and everything else. $Amazon.com(AMZN)$ likely has a lot more than 2x in the next

1. I own a small amount of $Credo Technology Group Holding Ltd(CRDO)$ 2. $Credo Technology Group Holding Ltd(CRDO)$ is a volatile stock. 3. I think $Credo Technology Group Holding Ltd(CRDO)$ about 10-20% lower is where the r/r becomes too good to ignore. Here's a few reasons why that is true: -> Should do +$6.50 in EPS in FY27 and ~$10 in EPS in FY28 which is 70% CAGR. If we trade at ~$130 that means we're trading sub 15x FY28 EPS which considering would be a bargain at 70% growth. Back when $Credo Technology Group Holding Ltd(CRDO)$ traded at sub $100 it

Seems like a big battle now between macro (10Y, Oil, PCE etc) and the AI narrative which is only trending in one direction: 1. $NVIDIA(NVDA)$: Forecasted 2028 revenue growth at +70% vs Street estimates of 44%. 2. $NVIDIA(NVDA)$ forecasts $1.3T in hyperscaler CapEx spend for 2027. 3. $SHKY CEO: "We expect the shortage (on storage) to persist until the end of 2030." 4. $SanDisk Corp.(SNDK)$: "We see structurally massive demand for NAND until 2030." 5. $Marvell Technology(MRVL)$ giving $Alphabet(GOOGL)$

Tell me how these $Amazon.com(AMZN)$ forecasts don't work out: 1. $530B in AWS revenue in 2030 in line with MS forecasts. -> At 30% NI margins and a 20x earnings multiple we have a $3.18T business. -> At 25% NI margins and a 20x earnings multiple we have a $2.65T business. 2. E-Commerce ARR is ~$550B today. -> At 10% CAGR growth we have a $833B revenue business in 2030. -> At a conservative 1x sales that's $833B in value. 3. Digital Ads ha revenue heading towards $80B with 50% operating margins. -> 20x EBIT values the business today in the $800B range. This should be a $1T business by 2030. That's a $4.5T business EXCLUDING: -> Amazon Leo -> Zoox -> One Medical -> Prime Video -> Equity stakes (If An