Angle: A hard-hitting psychological lecture aimed at emotional investors who expect 10x returns without enduring 30% drawdowns.
Chapter 1: Market Crash? Time for a Mental Reset
Today the shorts smashed us hard.
Fine. We’re heading to the park for some team-building. Listen up, everyone.
Today I’m giving you a proper psychological massage. This violent drop you’re seeing?
Most of it is pure emotion. We’ve gotten used to a market that trades 365 days a year and goes crazy 360 of them.
So don’t panic.
When we invest in AI, the only questions that matter are:
Has the industry changed?
Have the companies fundamentally broken?
Did we pick the wrong stocks?
I'm going deep into the earnings so you can decide for yourself whether the industry or the companies are actually broken. Once you have that conclusion, a big drop stops being scary.
We’re buying real shares. If you’re gambling with options, that’s on you.
Real shares can’t be washed out. A couple of days later the shorts leave. They never stay forever. They hit and run.
Chapter 2: Amazon – Not Broken, Just Spending Like Crazy
Amazon’s report looked a lot like Google’s yesterday.
Two of the three cloud giants got crushed. Only Microsoft is still standing strong.
Those two are rock-solid. Cash flow is king right now, and the market loves it.
Amazon Q3:
Revenue $201.9 billion, up 12% – slightly below expectations.
EPS $1.89 – also light.
But operating profit hit $28 billion, up massively, with a record 13.9% operating margin.
Net profit dipped only because last year had a one-time $9.5 billion gain.
Guidance for Q4 is a bit soft too – but the midpoint is only 0.4% below street expectations.
That tiny miss does not explain the post-market slaughter.
The real issue? Free cash flow was negative $33.5 billion this quarter.
They made $42.4 billion in profit but spent $75.9 billion.
Debt jumped, interest expense jumped. Short-term traders hate that because they can’t see buybacks and dividends right now. Advertising growth also slowed to 12%.
Same problem Google has – the shift toward AI agents means ads are starting to be written for machines, not just people. But AWS? Absolute beast.
$46 billion revenue, up 39.3%, accelerating. Operating margin still near 39%. It contributes 63% of the group’s operating profit. They’re adding capacity and it’s getting bought instantly. Backlog is huge. They expect 40%+ growth in 2027 and 2028. Long-term they see AWS alone becoming a trillion-dollar business. That’s why they’re burning cash on purpose.
The CEO said it clearly:
“AI is a once-in-a-lifetime opportunity… the biggest technology shift of our lifetime. We must invest to stay in the lead.” Believe the CEO or believe the short-sellers’ horror stories?
I choose the CEO and the industry.
Patience.
No company deliberately destroys itself. Current price action just means the market has doubts. Doubt is healthy – it prevents bubbles. Companies that keep delivering through skepticism end up with the most solid profits.
Chapter 3: Intel – The Big Scare That Isn’t New
Intel was the biggest bomb yesterday. Stock punched through $70 after market hours .
Currently trading at 67.08, down 25%.
Looks terrifying.
But is the company dead?
No.
Q3 numbers were actually recovering:
Revenue $16.5 billion, up 21%.
Adjusted EPS $0.52, up 126%.
Data center revenue $7.3 billion, up 78%.
AI demand is real. PC side is soft (down 5%), which we already expected because memory is being sucked into data centers. The real story is foundry. That’s the entire investment thesis.
0-to-1 is done.
Now it’s 1-to-100.
Foundry revenue grew 58%.
External customers are starting to appear. Losses are narrowing.
Why the crash?
Guidance.
Q4 revenue guided to $15–16 billion (street wanted ~$17.3B). Adjusted EPS only $0.25. Margins drop.
PC weakness lasts into first half 2027. Server demand is strong but supply (wafers + advanced packaging substrates) can’t keep up until late 2027.
Plus a one-time Israel factory issue. Capex stays high; free cash flow recovery delayed.
Classic Grandpa Tan Lip Bu style.
Extremely conservative guidance.
We’ve seen this movie before:
• July 2025: ugly report → stock to $20 → next quarter crushed estimates → doubled
• January 2026: ugly guidance → stock down 17% → next quarter smashed expectations → ran to $140
Grandpa Tan never over-promises.
When he gives soft guidance, the next print usually beats hard.
Foundry is progressing: costs down, external packaging wins with big names, government and Nvidia support, zero shortage of future demand because TSMC is full.
They just need time to build the capability. This stock three times at panic prices: $20, $40, now ~$70.
Same people who missed the first two will miss the third and slap their thighs again.
Treasury, Nvidia, Pelosi, the CEO himself – all still in. As long as AI demand stays strong, Intel’s foundry path stays alive. It’s the American TSMC candidate.
Give it time.
Chapter 4: SanDisk & Memory – Quiet Strength
Memory is still being mispriced. Even without HBM, regular DRAM and NAND are flying on data-center demand. SanDisk just crushed it:
Huge revenue growth, record margins near 85%, strong data-center mix, long-term contracts locking in volume and pricing for 2027–2028. They’re guiding further growth next quarter and still printing massive cash – enough for big buybacks and a stock split. Same story at Micron. These companies are cash machines right now.
No need to fear them.
Chapter 5: Microsoft, Oracle & The Short-Sighted Market
Microsoft just raised $25 billion in bonds with $115 billion of demand. Wall Street is fighting to lend them money. If AI is a bubble, why are they lining up for Microsoft debt? The market simply prefers companies that can invest AND still show strong free cash flow today.
Oracle actually played it smarter than most. They borrowed long-term years ago at rates that look cheap now, and they’re on track to turn free cash flow positive soonest among the aggressive spenders.
Old-school operators sometimes still win.
Chapter 6: Quick Answers & Mindset
Intel at $67? Not expensive once you add the national-champion premium and look at next year’s earnings power.
Marvel: I’m happy to purchase under $100.
Acquisition rumors / antitrust:
I personally think the odds are low for Marvel to acquire lumentum– the financing looks extremely difficult.
Politics and midterms will create noise, just like they did with Tesla. Noise passes. Value stays.
Final reminder:
If you want 10x returns but panic at every 20–30% drawdown, you will never make real money in tech. Tesla corrected 80% and still made people rich.
Nvidia, TSMC, now the AI names – same pattern.
Greedy + cowardly = stays poor.
Patient + clear-eyed = compounds. We’re not gambling. We’re owning businesses through temporary fear.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
