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05-30 05:28

Memory chips to the moon!🙏

AI Has Made Memory Chips More Valuable Than Oil

05-19

Is this some bait and switch tactic

Sandisk Stock Can Rise Another 52%, Says Citi. Why Investors Should Buy

2025-11-24

All these critics only start blabbering once it drops. If nvidia had been on an upward momentum, all these hot air wouldn't be existent in the first place

Why the Once-Invincible Nvidia Can't Save the AI Trade

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chips to the moon!🙏","listText":"Memory chips to the moon!🙏","text":"Memory chips to the moon!🙏","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/569687214257992","repostId":"2639362515","repostType":2,"repost":{"id":"2639362515","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1780054184,"share":"https://ttm.financial/m/news/2639362515?lang=en_US&edition=fundamental","pubTime":"2026-05-29 19:29","market":"sh","language":"en","title":"AI Has Made Memory Chips More Valuable Than Oil","url":"https://stock-news.laohu8.com/highlight/detail?id=2639362515","media":"Dow Jones","summary":"Memory is now worth more than oil. Staying that way will depend on how much the notoriously volatile industry can make recent changes stick.The world's three largest memory-chip makers -- Samsung Electronics, SK Hynix and Micron Technology -- now carry market capitalizations of more than $1 trillion each. That puts them about 22% above the combined market cap of the world's three most valuable oil companies, even with Saudi Aramco weighing in on its own at nearly $1.8 trillion.Values have soared even further down the memory chain. Flash-memory maker Sandisk has seen its market cap nearly triple since March and is now worth nearly as much as PetroChina -- Asia's largest oil producer.The spending power of artificial intelligence's largest investors means a significant percentage of future memory production will be covered by multiyear contracts with more stable pricing terms. UBS analyst Tim Arcuri estimates that such contracts will cover as much as 30% of shipments of total dynamic rand","content":"<html><head></head><body><p style=\"text-align: left;\">Memory is now worth more than oil. Staying that way will depend on how much the notoriously volatile industry can make recent changes stick.</p><p style=\"text-align: left;\">The world&#39;s three largest memory-chip makers -- <a href=\"https://laohu8.com/S/SSNGY\">Samsung Electronics</a>, <a href=\"https://laohu8.com/S/HXSCL\">SK Hynix</a> and Micron Technology -- now carry market capitalizations of more than $1 trillion each. That puts them about 22% above the combined market cap of the world&#39;s three most valuable oil companies, even with Saudi Aramco weighing in on its own at nearly $1.8 trillion.</p><p style=\"text-align: left;\">Values have soared even further down the memory chain. Flash-memory maker Sandisk has seen its market cap nearly triple since March and is now worth nearly as much as PetroChina -- Asia&#39;s largest oil producer.</p><p style=\"text-align: left;\">Gains like that make memory stocks seem ripe for a fall, especially given how highly cyclical the industry has been historically. But recent changes in business practices make projected earnings far more certain. And against those future earnings, even trillion-dollar memory companies still look cheap.</p><p style=\"text-align: left;\">Like oil, memory chips are widely seen as a commodity prone to violent price swings. But artificial intelligence is now driving demand for memory chips far beyond what existing suppliers can produce, which is driving up prices to previously unseen levels. Memory makers in turn are using their newfound leverage to get customers to sign long-term agreements.</p><p style=\"text-align: left;\">Enough of those deals will recast the industry&#39;s business model in a way that will tame price volatility. The early signs of that effort are good. Micron announced the signing of its first five-year supply agreement in its last earnings report in March, and the company said at an investment conference last week that it has made &#34;meaningful progress&#34; on similar deals with other customers.</p><p style=\"text-align: left;\">In its own report last month, Sandisk said five customers had signed long-term agreements -- enough to cover more than a third of the company&#39;s production capacity for the next fiscal year.</p><p style=\"text-align: left;\">SK Hynix hasn&#39;t detailed how many of its customers have signed long-term agreements. But it has clearly talked with those customers about their future needs, given the disclosure in its last earnings call that demand &#34;far exceeds&#34; the company&#39;s supply capacity for the next three years. &#34;Memory today has become so critical that customers now see memory price and supply uncertainties as key business risks,&#34; SK Hynix Chief Financial Officer Kim Woo-hyun said on the call.</p><p style=\"text-align: left;\">The spending power of artificial intelligence&#39;s largest investors means a significant percentage of future memory production will be covered by multiyear contracts with more stable pricing terms. UBS analyst Tim Arcuri estimates that such contracts will cover as much as 30% of shipments of total dynamic random-access memory, or DRAM, next year. He thinks hyperscalers -- huge tech companies such as Microsoft, Alphabet&#39;s Google and <a href=\"https://laohu8.com/S/AMZN\">Amazon</a>.com -- have already secured around two-thirds of global production for the type of DRAM used in servers.</p><p style=\"text-align: left;\">&#34;Said differently, hyperscalers appear increasingly willing to exchange pricing for multiyear supply visibility and greater predictability around future deployment economics,&#34; Arcuri wrote in a report earlier this week.</p><p style=\"text-align: left;\">Long-term contracts make future earnings from memory companies far more predictable. And those earnings are substantial. Micron&#39;s adjusted per-share earnings in the February-ended quarter exploded to $12.20 from $1.56 in the year-ago period. Wall Street expects earnings per share to top $60 for the fiscal year ending in August -- and to come in around $106 for the next fiscal year, according to estimates from Visible Alpha.</p><p style=\"text-align: left;\">So at its current market cap of just over $1 trillion, Micron trades at less than 10 times projected earnings for the next four quarters. That puts its multiple in the bottom 10% of the S&amp;P 500, with Sandisk not far above at around 10.5 times forward earnings.</p><p style=\"text-align: left;\">The Korean players are even cheaper, with Samsung and SK Hynix in the six- to seven-times range, per FactSet data. The 30 stocks on the PHLX Semiconductor Index average a forward earnings multiple of around 26 times.</p><p style=\"text-align: left;\">Memory may be the new oil, but memory investors aren&#39;t getting gouged at the pump yet.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AI Has Made Memory Chips More Valuable Than Oil</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAI Has Made Memory Chips More Valuable Than Oil\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-29 19:29</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">Memory is now worth more than oil. Staying that way will depend on how much the notoriously volatile industry can make recent changes stick.</p><p style=\"text-align: left;\">The world&#39;s three largest memory-chip makers -- <a href=\"https://laohu8.com/S/SSNGY\">Samsung Electronics</a>, <a href=\"https://laohu8.com/S/HXSCL\">SK Hynix</a> and Micron Technology -- now carry market capitalizations of more than $1 trillion each. That puts them about 22% above the combined market cap of the world&#39;s three most valuable oil companies, even with Saudi Aramco weighing in on its own at nearly $1.8 trillion.</p><p style=\"text-align: left;\">Values have soared even further down the memory chain. Flash-memory maker Sandisk has seen its market cap nearly triple since March and is now worth nearly as much as PetroChina -- Asia&#39;s largest oil producer.</p><p style=\"text-align: left;\">Gains like that make memory stocks seem ripe for a fall, especially given how highly cyclical the industry has been historically. But recent changes in business practices make projected earnings far more certain. And against those future earnings, even trillion-dollar memory companies still look cheap.</p><p style=\"text-align: left;\">Like oil, memory chips are widely seen as a commodity prone to violent price swings. But artificial intelligence is now driving demand for memory chips far beyond what existing suppliers can produce, which is driving up prices to previously unseen levels. Memory makers in turn are using their newfound leverage to get customers to sign long-term agreements.</p><p style=\"text-align: left;\">Enough of those deals will recast the industry&#39;s business model in a way that will tame price volatility. The early signs of that effort are good. Micron announced the signing of its first five-year supply agreement in its last earnings report in March, and the company said at an investment conference last week that it has made &#34;meaningful progress&#34; on similar deals with other customers.</p><p style=\"text-align: left;\">In its own report last month, Sandisk said five customers had signed long-term agreements -- enough to cover more than a third of the company&#39;s production capacity for the next fiscal year.</p><p style=\"text-align: left;\">SK Hynix hasn&#39;t detailed how many of its customers have signed long-term agreements. But it has clearly talked with those customers about their future needs, given the disclosure in its last earnings call that demand &#34;far exceeds&#34; the company&#39;s supply capacity for the next three years. &#34;Memory today has become so critical that customers now see memory price and supply uncertainties as key business risks,&#34; SK Hynix Chief Financial Officer Kim Woo-hyun said on the call.</p><p style=\"text-align: left;\">The spending power of artificial intelligence&#39;s largest investors means a significant percentage of future memory production will be covered by multiyear contracts with more stable pricing terms. UBS analyst Tim Arcuri estimates that such contracts will cover as much as 30% of shipments of total dynamic random-access memory, or DRAM, next year. He thinks hyperscalers -- huge tech companies such as Microsoft, Alphabet&#39;s Google and <a href=\"https://laohu8.com/S/AMZN\">Amazon</a>.com -- have already secured around two-thirds of global production for the type of DRAM used in servers.</p><p style=\"text-align: left;\">&#34;Said differently, hyperscalers appear increasingly willing to exchange pricing for multiyear supply visibility and greater predictability around future deployment economics,&#34; Arcuri wrote in a report earlier this week.</p><p style=\"text-align: left;\">Long-term contracts make future earnings from memory companies far more predictable. And those earnings are substantial. Micron&#39;s adjusted per-share earnings in the February-ended quarter exploded to $12.20 from $1.56 in the year-ago period. Wall Street expects earnings per share to top $60 for the fiscal year ending in August -- and to come in around $106 for the next fiscal year, according to estimates from Visible Alpha.</p><p style=\"text-align: left;\">So at its current market cap of just over $1 trillion, Micron trades at less than 10 times projected earnings for the next four quarters. That puts its multiple in the bottom 10% of the S&amp;P 500, with Sandisk not far above at around 10.5 times forward earnings.</p><p style=\"text-align: left;\">The Korean players are even cheaper, with Samsung and SK Hynix in the six- to seven-times range, per FactSet data. The 30 stocks on the PHLX Semiconductor Index average a forward earnings multiple of around 26 times.</p><p style=\"text-align: left;\">Memory may be the new oil, but memory investors aren&#39;t getting gouged at the pump yet.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","WDCX":"Tradr 2X Long WDC Daily ETF","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","BK4554":"元宇宙及AR概念","BK4553":"喜马拉雅资本持仓","SNDK":"闪迪","STX":"希捷科技","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4585":"ETF&股票定投概念","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","SIMO":"慧荣科技","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0056508442.USD":"贝莱德世界科技基金A2","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4588":"碎股","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","BK4170":"电脑硬件、储存设备及电脑周边","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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Staying that way will depend on how much the notoriously volatile industry can make recent changes stick.The world's three largest memory-chip makers -- Samsung Electronics, SK Hynix and Micron Technology -- now carry market capitalizations of more than $1 trillion each. That puts them about 22% above the combined market cap of the world's three most valuable oil companies, even with Saudi Aramco weighing in on its own at nearly $1.8 trillion.Values have soared even further down the memory chain. Flash-memory maker Sandisk has seen its market cap nearly triple since March and is now worth nearly as much as PetroChina -- Asia's largest oil producer.Gains like that make memory stocks seem ripe for a fall, especially given how highly cyclical the industry has been historically. But recent changes in business practices make projected earnings far more certain. And against those future earnings, even trillion-dollar memory companies still look cheap.Like oil, memory chips are widely seen as a commodity prone to violent price swings. But artificial intelligence is now driving demand for memory chips far beyond what existing suppliers can produce, which is driving up prices to previously unseen levels. Memory makers in turn are using their newfound leverage to get customers to sign long-term agreements.Enough of those deals will recast the industry's business model in a way that will tame price volatility. The early signs of that effort are good. Micron announced the signing of its first five-year supply agreement in its last earnings report in March, and the company said at an investment conference last week that it has made \"meaningful progress\" on similar deals with other customers.In its own report last month, Sandisk said five customers had signed long-term agreements -- enough to cover more than a third of the company's production capacity for the next fiscal year.SK Hynix hasn't detailed how many of its customers have signed long-term agreements. But it has clearly talked with those customers about their future needs, given the disclosure in its last earnings call that demand \"far exceeds\" the company's supply capacity for the next three years. \"Memory today has become so critical that customers now see memory price and supply uncertainties as key business risks,\" SK Hynix Chief Financial Officer Kim Woo-hyun said on the call.The spending power of artificial intelligence's largest investors means a significant percentage of future memory production will be covered by multiyear contracts with more stable pricing terms. UBS analyst Tim Arcuri estimates that such contracts will cover as much as 30% of shipments of total dynamic random-access memory, or DRAM, next year. He thinks hyperscalers -- huge tech companies such as Microsoft, Alphabet's Google and Amazon.com -- have already secured around two-thirds of global production for the type of DRAM used in servers.\"Said differently, hyperscalers appear increasingly willing to exchange pricing for multiyear supply visibility and greater predictability around future deployment economics,\" Arcuri wrote in a report earlier this week.Long-term contracts make future earnings from memory companies far more predictable. And those earnings are substantial. Micron's adjusted per-share earnings in the February-ended quarter exploded to $12.20 from $1.56 in the year-ago period. Wall Street expects earnings per share to top $60 for the fiscal year ending in August -- and to come in around $106 for the next fiscal year, according to estimates from Visible Alpha.So at its current market cap of just over $1 trillion, Micron trades at less than 10 times projected earnings for the next four quarters. That puts its multiple in the bottom 10% of the S&P 500, with Sandisk not far above at around 10.5 times forward earnings.The Korean players are even cheaper, with Samsung and SK Hynix in the six- to seven-times range, per FactSet data. The 30 stocks on the PHLX Semiconductor Index average a forward earnings multiple of around 26 times.Memory may be the new oil, but memory investors aren't getting gouged at the pump yet.","news_type":1,"symbols_score_info":{"MU":1.95,"SNXX":0.6,"MUD":0.6,"SNDU":0.6,"MULL":0.6,"MUU":0.6,"SNDK":1.86,"WDCX":0.6,"RMBS":2,"WDC":2,"PSTG":2,"STX":2,"SIMO":2}},"isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":565923812495712,"gmtCreate":1779198194414,"gmtModify":1779198657455,"author":{"id":"3581827467372352","authorId":"3581827467372352","name":"Bungeeman","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3581827467372352","authorIdStr":"3581827467372352"},"themes":[],"title":"","htmlText":"Is this some bait and switch tactic&nbsp;","listText":"Is this some bait and switch tactic&nbsp;","text":"Is this some bait and switch tactic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/565923812495712","repostId":"2636856202","repostType":2,"repost":{"id":"2636856202","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1779195426,"share":"https://ttm.financial/m/news/2636856202?lang=en_US&edition=fundamental","pubTime":"2026-05-19 20:57","market":"nz","language":"en","title":"Sandisk Stock Can Rise Another 52%, Says Citi. Why Investors Should Buy","url":"https://stock-news.laohu8.com/highlight/detail?id=2636856202","media":"Dow Jones","summary":"$Sandisk(SNDK)$ stock can continue its historic run as memory shortages persist and share buybacks pick up, according to Citi Research.The firm reiterated a Buy rating on the the flash memory...","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/SNDK\">Sandisk</a> stock can continue its historic run as memory shortages persist and share buybacks pick up, according to Citi Research.</p><p>The firm reiterated a Buy rating on the the flash memory supplier and boosted its price target to $2,025 from $1,300 in a research note Tuesday. That would represent 52% growth from Sandisk&#39;s closing price Monday of $1,333.01.</p><p>Sandisk has soared an astounding 3,218% over the last 12 months as its solid-state drives, or eSSDs, have become a crucial component in artificial-intelligence data centers.</p><p>&#34;We remain constructive on a highly favorable [supply-demand] environment with clear indications of persistence with customer demand conversations through [2030],&#34; wrote Citi analyst Asiya Merchant.</p><p>A strong earnings report last week from Japanese competitor Kioxia Holdings reinforced that view. Kioxia reported a roughly 85% quarter-over-quarter jump in revenue and guided for 75% sequential growth in the current period. The results beat Wall Street&#39;s estimates, Citi noted.</p><p>Buybacks are another factor working in shareholders&#39; favor. Sandisk announced a $6 billion share repurchase authorization last quarter, representing around 3% of its current market capitalization. Citi expects that number to rise given the company&#39;s growing free cash flow.</p><p>For every 1% reduction in share count, Citi estimates a $2 jump in earnings per share. Buybacks aren&#39;t currently factored into its model. In other words, that $2,025 price target may not be telling the full story.</p><p>Even with Sandisk&#39;s astronomical rise over the last year, most analysts agree with Citi. Of the 26 firms polled by FactSet, 20 rate the stock a Buy and just 1 rates it a Sell. Citi is the fifth firm to assign a price target of $2,000 or higher.</p><p>Sandisk was down 3.4% to $1,288.20 in premarket trading Tuesday as investors rotated out of hardware stocks. Fellow memory player Micron Technology declined 2.5%. Data-storage duo Seagate Technology and <a href=\"https://laohu8.com/S/WDC\">Western Digital</a> -- Sandisk&#39;s former parent company -- dropped 3.2% and 3.7%, respectively.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sandisk Stock Can Rise Another 52%, Says Citi. Why Investors Should Buy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSandisk Stock Can Rise Another 52%, Says Citi. Why Investors Should Buy\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-19 20:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/SNDK\">Sandisk</a> stock can continue its historic run as memory shortages persist and share buybacks pick up, according to Citi Research.</p><p>The firm reiterated a Buy rating on the the flash memory supplier and boosted its price target to $2,025 from $1,300 in a research note Tuesday. That would represent 52% growth from Sandisk&#39;s closing price Monday of $1,333.01.</p><p>Sandisk has soared an astounding 3,218% over the last 12 months as its solid-state drives, or eSSDs, have become a crucial component in artificial-intelligence data centers.</p><p>&#34;We remain constructive on a highly favorable [supply-demand] environment with clear indications of persistence with customer demand conversations through [2030],&#34; wrote Citi analyst Asiya Merchant.</p><p>A strong earnings report last week from Japanese competitor Kioxia Holdings reinforced that view. Kioxia reported a roughly 85% quarter-over-quarter jump in revenue and guided for 75% sequential growth in the current period. The results beat Wall Street&#39;s estimates, Citi noted.</p><p>Buybacks are another factor working in shareholders&#39; favor. Sandisk announced a $6 billion share repurchase authorization last quarter, representing around 3% of its current market capitalization. Citi expects that number to rise given the company&#39;s growing free cash flow.</p><p>For every 1% reduction in share count, Citi estimates a $2 jump in earnings per share. Buybacks aren&#39;t currently factored into its model. In other words, that $2,025 price target may not be telling the full story.</p><p>Even with Sandisk&#39;s astronomical rise over the last year, most analysts agree with Citi. Of the 26 firms polled by FactSet, 20 rate the stock a Buy and just 1 rates it a Sell. Citi is the fifth firm to assign a price target of $2,000 or higher.</p><p>Sandisk was down 3.4% to $1,288.20 in premarket trading Tuesday as investors rotated out of hardware stocks. Fellow memory player Micron Technology declined 2.5%. Data-storage duo Seagate Technology and <a href=\"https://laohu8.com/S/WDC\">Western Digital</a> -- Sandisk&#39;s former parent company -- dropped 3.2% and 3.7%, respectively.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","BK4605":"半导体精选","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU0109392836.USD":"富兰克林科技股A","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","SNXX":"Tradr 2X Long SNDK Daily ETF","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","BK4527":"明星科技股","LU0444971666.USD":"天利全球科技基金","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","BK4575":"芯片概念","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4579":"人工智能","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","BK4211":"区域性银行","LU0082616367.USD":"摩根大通美国科技A（dist）","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU2048586759.USD":"ALLIANZ SMART ENERGY \"AT\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","MUU":"2倍做多MU ETF-Direxion","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","SNDK":"闪迪","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","BK4532":"文艺复兴科技持仓","BK4512":"苹果概念","BK4543":"AI","LU1069347547.HKD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (HKD) INC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","BK4141":"半导体产品","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","WDCX":"Tradr 2X Long WDC Daily ETF","LU1046421795.USD":"富达环球科技A-ACC","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","BK4554":"元宇宙及AR概念","BK4553":"喜马拉雅资本持仓","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4585":"ETF&股票定投概念","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0056508442.USD":"贝莱德世界科技基金A2","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4588":"碎股","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","BK4170":"电脑硬件、储存设备及电脑周边","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","LU1035773651.USD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (USD) INC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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That would represent 52% growth from Sandisk's closing price Monday of $1,333.01.Sandisk has soared an astounding 3,218% over the last 12 months as its solid-state drives, or eSSDs, have become a crucial component in artificial-intelligence data centers.\"We remain constructive on a highly favorable [supply-demand] environment with clear indications of persistence with customer demand conversations through [2030],\" wrote Citi analyst Asiya Merchant.A strong earnings report last week from Japanese competitor Kioxia Holdings reinforced that view. Kioxia reported a roughly 85% quarter-over-quarter jump in revenue and guided for 75% sequential growth in the current period. The results beat Wall Street's estimates, Citi noted.Buybacks are another factor working in shareholders' favor. Sandisk announced a $6 billion share repurchase authorization last quarter, representing around 3% of its current market capitalization. Citi expects that number to rise given the company's growing free cash flow.For every 1% reduction in share count, Citi estimates a $2 jump in earnings per share. Buybacks aren't currently factored into its model. In other words, that $2,025 price target may not be telling the full story.Even with Sandisk's astronomical rise over the last year, most analysts agree with Citi. Of the 26 firms polled by FactSet, 20 rate the stock a Buy and just 1 rates it a Sell. Citi is the fifth firm to assign a price target of $2,000 or higher.Sandisk was down 3.4% to $1,288.20 in premarket trading Tuesday as investors rotated out of hardware stocks. Fellow memory player Micron Technology declined 2.5%. Data-storage duo Seagate Technology and Western Digital -- Sandisk's former parent company -- dropped 3.2% and 3.7%, respectively.","news_type":1,"symbols_score_info":{"SNXX":0.6,"MUU":0.6,"SNDK":1.98,"SNDU":0.6,"MULL":0.6,"WDCX":0.6,"MUD":0.6}},"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":503601461666040,"gmtCreate":1763958162719,"gmtModify":1763959290770,"author":{"id":"3581827467372352","authorId":"3581827467372352","name":"Bungeeman","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3581827467372352","authorIdStr":"3581827467372352"},"themes":[],"title":"","htmlText":"All these critics only start blabbering once it drops. If nvidia had been on an upward momentum, all these hot air wouldn't be existent in the first place&nbsp;","listText":"All these critics only start blabbering once it drops. If nvidia had been on an upward momentum, all these hot air wouldn't be existent in the first place&nbsp;","text":"All these critics only start blabbering once it drops. If nvidia had been on an upward momentum, all these hot air wouldn't be existent in the first place","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/503601461666040","repostId":"2585482654","repostType":2,"repost":{"id":"2585482654","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1763956296,"share":"https://ttm.financial/m/news/2585482654?lang=en_US&edition=fundamental","pubTime":"2025-11-24 11:51","market":"us","language":"en","title":"Why the Once-Invincible Nvidia Can't Save the AI Trade","url":"https://stock-news.laohu8.com/highlight/detail?id=2585482654","media":"Dow Jones","summary":"The stock market is sensitive to everything from the path of interest rates to ominous OpenAI commentary - and now investors are digging more closely into Nvidia's earnings. Nvidia's fiscal third-quarter earnings report came out ahead of Wall Street's expectations, but it failed to give AI stocks a boost.The artificial-intelligence trade was already starting to crack before Nvidia Corp. reported earnings, and upbeat results from the world's largest company weren't enough to flip sentiment.That dynamic highlights growing jitters about factors far beyond Nvidia's  control, and sets the market on a bumpy path for the balance of 2025.That wasn't to be. Shares of Nvidia and other AI plays opened the next session higher but closed meaningfully lower by the end of the day. For momentum-oriented names like Sandisk Corp. , which had run up big on optimism for AI-related storage needs, the declines were especially dramatic.Nvidia \"has been taking in hefty prepayments from customers and then reco","content":"<html><head></head><body><p>The stock market is sensitive to everything from the path of interest rates to ominous OpenAI commentary - and now investors are digging more closely into Nvidia&#39;s earnings</p><p>Nvidia&#39;s fiscal third-quarter earnings report came out ahead of Wall Street&#39;s expectations, but it failed to give AI stocks a boost.</p><p>The artificial-intelligence trade was already starting to crack before Nvidia Corp. reported earnings, and upbeat results from the world&#39;s largest company weren&#39;t enough to flip sentiment.</p><p>That dynamic highlights growing jitters about factors far beyond Nvidia&#39;s (NVDA) control, and sets the market on a bumpy path for the balance of 2025.</p><p>Nvidia&#39;s October-quarter earnings results &#34;were extraordinarily good, probably the best quarter they&#39;ve reported this year,&#34; Gil Luria, D.A. Davidson&#39;s head of technology research, told MarketWatch. And initially, it seemed like those numbers would be a sufficient spark for AI stocks that had seen a comedown in recent weeks.</p><p>That wasn&#39;t to be. Shares of Nvidia and other AI plays opened the next session higher but closed meaningfully lower by the end of the day. For momentum-oriented names like Sandisk Corp. <a href=\"https://laohu8.com/S/SNDK\">$(SNDK)$</a>, which had run up big on optimism for AI-related storage needs, the declines were especially dramatic.</p><p>&#34;If really strong Nvidia results and a positive tone didn&#39;t send the group to new highs ... not much else is going to be a positive catalyst through the end of the year,&#34; Jamie Zakalik, a senior research analyst at Neuberger Berman, told MarketWatch.</p><p><strong>What gives?</strong></p><p>There&#39;s a laundry list of issues ailing the AI trade - from big-picture macroeconomic questions affecting the rate-cut outlook, to highly specific comments from key players like OpenAI that have rattled the market. Or as Ken Mahoney, the chief executive of Mahoney Asset Management, put it in emailed comments, markets are now facing a &#34;perfect storm.&#34;</p><p>Thinking on a micro level, the market downturn following Nvidia&#39;s earnings could have been driven by a fund or portfolio liquidating, Luria said, and wasn&#39;t necessarily a reaction to Nvidia&#39;s report itself. By sharing that the company has visibility into $500 billion in Blackwell and Rubin revenue from now through 2026, Nvidia gave &#34;the longest-term outlook they&#39;ve given in the last three years,&#34; according to Luria.</p><p>That&#39;s not to say Nvidia&#39;s report was deemed to be flawless. Ipek Ozkardeskaya, a senior analyst at Swiss online bank Swissquote, said investors may be taking issue with &#34;swelling inventories and unusual patterns in deferred revenue&#34; at the chip giant.</p><p>Nvidia &#34;has been taking in hefty prepayments from customers and then recognizing those payments as revenue ... before chips are delivered,&#34; Ozkardeskaya noted in emailed comments. &#34;This is not illegal,&#34; she added, but it &#34;could leave a gap if future orders slow.&#34;</p><p>The fact that investors are looking closely at these elements is perhaps indicative of how the attitude on Wall Street has shifted from euphoria to vigilance.</p><p>&#34;When you dig deep enough, you&#39;re sure to find dirt,&#34; Ozkardeskaya wrote. &#34;And people only start digging when they begin to feel uncomfortable - and that level of discomfort is rising.&#34;</p><p>In the preceding weeks before Nvidia&#39;s earnings report, Luria said there was &#34;a lot of good discussion about what constitutes a bubble&#34; and what market behaviors are healthy or unhealthy.</p><p>That said, Bloomberg Intelligence technology analyst Mandeep Singh isn&#39;t worried about Nvidia&#39;s high inventory levels. In his view, the company is trying to ramp up the capacity of graphics processing units it makes every year, and that means keeping the same allocation from <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing Co. Ltd.</a></p><p>&#34;They don&#39;t want that allocation to go to AMD <a href=\"https://laohu8.com/S/AMD\">$(AMD)$</a> or even TPUs for that matter,&#34; Singh said, referring to tensor processing units designed by Google <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> <a href=\"https://laohu8.com/S/GOOG\">$(GOOG)$</a>. &#34;From that perspective, I think Nvidia cares about how many units it can make and I think they are managing a very complex supply chain.&#34;</p><p>With more than $330 billion in revenue expected next year, &#34;that will involve an inventory buildup,&#34; Singh added.</p><p>As for concerns that Nvidia reported a high amount of accounts receivables on its earnings call, Neuberger Berman&#39;s Zakalik said she isn&#39;t concerned because the company&#39;s major customers are hyperscalers with large cash flows.</p><p><strong>Watching the Fed</strong></p><p>Wall Street&#39;s more discerning earnings reactions also relate to evolving expectations around the Federal Reserve&#39;s next interest-rate decision due out in December.</p><p>&#34;It seemed like the market was saying it&#39;s extremely unlikely&#34; that there will be a cut, Zakalik said, following delayed September unemployment data released on Thursday that &#34;was not perfectly clean.&#34; Because of the government shutdown, the Fed won&#39;t be receiving October and November data until after the rate-cut decision.</p><p>Fed uncertainty has been &#34;the largest single sentiment driver in the past few weeks,&#34; according to emailed comments from Mark Malek, the chief investment officer at Siebert Financial.</p><p>&#34;Does a 25-basis-point cut in December or January really have anything to do with how well Nvidia or Meta is going to perform over the next five years?&#34; Malek asked. &#34;Please tell me you answered with a quick &#39;no!&#39; But, alas, investors have gotten their minds so wrapped up in [Fed] policy that it has distorted many investors&#39; ability to make reasonable, facts-based decisions.&#34;</p><p>The interest-rate landscape, however, has implications for high-growth technology companies sensitive to borrowing costs.</p><p><strong>The OpenAI issue</strong></p><p>There are questions about the AI trade beyond Nvidia&#39;s control, Zakalik said, including the debt financing by major customers like <a href=\"https://laohu8.com/S/OCLCF\">Oracle Corp.</a> <a href=\"https://laohu8.com/S/ORCL\">$(ORCL)$</a> and longer-term worries that there will be an overbuilding of AI infrastructure.</p><p>Everything increasingly comes back to OpenAI, which has announced big-money deals with cloud and chip players that are in excess of its current revenue.</p><p>The market is &#34;sensitive&#34; to anything related to OpenAI and its ability to pay off and build the commitments it has made over the next few years, Zakalik said.</p><p>Investors are increasingly worried that OpenAI could be making promises it can&#39;t live up to as it tries to raise massive amounts of capital, Luria said. He pointed to neocloud <a href=\"https://laohu8.com/S/CRWV\">CoreWeave</a> Inc. (CRWV), which is borrowing money to build data centers for OpenAI. But the ChatGPT creator doesn&#39;t exactly have the money to pay for them.</p><p>&#34;People are having bubble PTSD over that kind of behavior, and that&#39;s been an impact on the stocks for the last couple of weeks,&#34; Luria noted.</p><p>OpenAI hasn&#39;t necessarily reassured investors recently. Sarah Friar, the company&#39;s chief financial officer, mused about a &#34;backstop&#34; from the government during an appearance at the Wall Street Journal&#39;s Tech Live event earlier this month - comments she later walked back on LinkedIn.</p><p>And while ChatGPT was once the face of chatbots, Alphabet has been gaining ground with its own efforts, both casting doubt on OpenAI&#39;s future dominance and underscoring Google&#39;s success with its in-house hardware.</p><p>Singh told MarketWatch that Google&#39;s release of Gemini 3 this week could have been among the reasons for the negative market action.</p><p>The AI model, which Google said outperforms OpenAI&#39;s ChatGPT 5.1 and Claude Sonnet 4.5 in areas such as scientific reasoning and agentic tasks, was trained on the company&#39;s tensor processing units. In Singh&#39;s view, that shows that Google could be getting further with its capital expenditures than other hyperscalers that depend more on Nvidia for chips.</p><p>While Singh expects Google to continue being an Nvidia customer, the chip maker will likely have to rely more on other large customers such as Microsoft Corp. <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a> and <a href=\"https://laohu8.com/S/META\">Meta Platforms</a> Inc. (META), and also on OpenAI, to get the $330 billion in revenue it is modeling for next year.</p><p>&#34;I think now, with the numbers getting as big as they are for Nvidia, that question is looming again in terms of how much is going towards training [and] how much is going towards inferencing, because inferencing spend shows up in the revenue of the hyperscalers, OpenAI and Anthropic,&#34; Singh said.</p><p>Inferencing refers to the process of running AI models. Training is a sunk cost, Singh noted, because although it is important to train models to improve them, inferencing is related to the monetization of the AI models.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why the Once-Invincible Nvidia Can't Save the AI Trade</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy the Once-Invincible Nvidia Can't Save the AI Trade\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-11-24 11:51</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The stock market is sensitive to everything from the path of interest rates to ominous OpenAI commentary - and now investors are digging more closely into Nvidia&#39;s earnings</p><p>Nvidia&#39;s fiscal third-quarter earnings report came out ahead of Wall Street&#39;s expectations, but it failed to give AI stocks a boost.</p><p>The artificial-intelligence trade was already starting to crack before Nvidia Corp. reported earnings, and upbeat results from the world&#39;s largest company weren&#39;t enough to flip sentiment.</p><p>That dynamic highlights growing jitters about factors far beyond Nvidia&#39;s (NVDA) control, and sets the market on a bumpy path for the balance of 2025.</p><p>Nvidia&#39;s October-quarter earnings results &#34;were extraordinarily good, probably the best quarter they&#39;ve reported this year,&#34; Gil Luria, D.A. Davidson&#39;s head of technology research, told MarketWatch. And initially, it seemed like those numbers would be a sufficient spark for AI stocks that had seen a comedown in recent weeks.</p><p>That wasn&#39;t to be. Shares of Nvidia and other AI plays opened the next session higher but closed meaningfully lower by the end of the day. For momentum-oriented names like Sandisk Corp. <a href=\"https://laohu8.com/S/SNDK\">$(SNDK)$</a>, which had run up big on optimism for AI-related storage needs, the declines were especially dramatic.</p><p>&#34;If really strong Nvidia results and a positive tone didn&#39;t send the group to new highs ... not much else is going to be a positive catalyst through the end of the year,&#34; Jamie Zakalik, a senior research analyst at Neuberger Berman, told MarketWatch.</p><p><strong>What gives?</strong></p><p>There&#39;s a laundry list of issues ailing the AI trade - from big-picture macroeconomic questions affecting the rate-cut outlook, to highly specific comments from key players like OpenAI that have rattled the market. Or as Ken Mahoney, the chief executive of Mahoney Asset Management, put it in emailed comments, markets are now facing a &#34;perfect storm.&#34;</p><p>Thinking on a micro level, the market downturn following Nvidia&#39;s earnings could have been driven by a fund or portfolio liquidating, Luria said, and wasn&#39;t necessarily a reaction to Nvidia&#39;s report itself. By sharing that the company has visibility into $500 billion in Blackwell and Rubin revenue from now through 2026, Nvidia gave &#34;the longest-term outlook they&#39;ve given in the last three years,&#34; according to Luria.</p><p>That&#39;s not to say Nvidia&#39;s report was deemed to be flawless. Ipek Ozkardeskaya, a senior analyst at Swiss online bank Swissquote, said investors may be taking issue with &#34;swelling inventories and unusual patterns in deferred revenue&#34; at the chip giant.</p><p>Nvidia &#34;has been taking in hefty prepayments from customers and then recognizing those payments as revenue ... before chips are delivered,&#34; Ozkardeskaya noted in emailed comments. &#34;This is not illegal,&#34; she added, but it &#34;could leave a gap if future orders slow.&#34;</p><p>The fact that investors are looking closely at these elements is perhaps indicative of how the attitude on Wall Street has shifted from euphoria to vigilance.</p><p>&#34;When you dig deep enough, you&#39;re sure to find dirt,&#34; Ozkardeskaya wrote. &#34;And people only start digging when they begin to feel uncomfortable - and that level of discomfort is rising.&#34;</p><p>In the preceding weeks before Nvidia&#39;s earnings report, Luria said there was &#34;a lot of good discussion about what constitutes a bubble&#34; and what market behaviors are healthy or unhealthy.</p><p>That said, Bloomberg Intelligence technology analyst Mandeep Singh isn&#39;t worried about Nvidia&#39;s high inventory levels. In his view, the company is trying to ramp up the capacity of graphics processing units it makes every year, and that means keeping the same allocation from <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing Co. Ltd.</a></p><p>&#34;They don&#39;t want that allocation to go to AMD <a href=\"https://laohu8.com/S/AMD\">$(AMD)$</a> or even TPUs for that matter,&#34; Singh said, referring to tensor processing units designed by Google <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> <a href=\"https://laohu8.com/S/GOOG\">$(GOOG)$</a>. &#34;From that perspective, I think Nvidia cares about how many units it can make and I think they are managing a very complex supply chain.&#34;</p><p>With more than $330 billion in revenue expected next year, &#34;that will involve an inventory buildup,&#34; Singh added.</p><p>As for concerns that Nvidia reported a high amount of accounts receivables on its earnings call, Neuberger Berman&#39;s Zakalik said she isn&#39;t concerned because the company&#39;s major customers are hyperscalers with large cash flows.</p><p><strong>Watching the Fed</strong></p><p>Wall Street&#39;s more discerning earnings reactions also relate to evolving expectations around the Federal Reserve&#39;s next interest-rate decision due out in December.</p><p>&#34;It seemed like the market was saying it&#39;s extremely unlikely&#34; that there will be a cut, Zakalik said, following delayed September unemployment data released on Thursday that &#34;was not perfectly clean.&#34; Because of the government shutdown, the Fed won&#39;t be receiving October and November data until after the rate-cut decision.</p><p>Fed uncertainty has been &#34;the largest single sentiment driver in the past few weeks,&#34; according to emailed comments from Mark Malek, the chief investment officer at Siebert Financial.</p><p>&#34;Does a 25-basis-point cut in December or January really have anything to do with how well Nvidia or Meta is going to perform over the next five years?&#34; Malek asked. &#34;Please tell me you answered with a quick &#39;no!&#39; But, alas, investors have gotten their minds so wrapped up in [Fed] policy that it has distorted many investors&#39; ability to make reasonable, facts-based decisions.&#34;</p><p>The interest-rate landscape, however, has implications for high-growth technology companies sensitive to borrowing costs.</p><p><strong>The OpenAI issue</strong></p><p>There are questions about the AI trade beyond Nvidia&#39;s control, Zakalik said, including the debt financing by major customers like <a href=\"https://laohu8.com/S/OCLCF\">Oracle Corp.</a> <a href=\"https://laohu8.com/S/ORCL\">$(ORCL)$</a> and longer-term worries that there will be an overbuilding of AI infrastructure.</p><p>Everything increasingly comes back to OpenAI, which has announced big-money deals with cloud and chip players that are in excess of its current revenue.</p><p>The market is &#34;sensitive&#34; to anything related to OpenAI and its ability to pay off and build the commitments it has made over the next few years, Zakalik said.</p><p>Investors are increasingly worried that OpenAI could be making promises it can&#39;t live up to as it tries to raise massive amounts of capital, Luria said. He pointed to neocloud <a href=\"https://laohu8.com/S/CRWV\">CoreWeave</a> Inc. (CRWV), which is borrowing money to build data centers for OpenAI. But the ChatGPT creator doesn&#39;t exactly have the money to pay for them.</p><p>&#34;People are having bubble PTSD over that kind of behavior, and that&#39;s been an impact on the stocks for the last couple of weeks,&#34; Luria noted.</p><p>OpenAI hasn&#39;t necessarily reassured investors recently. Sarah Friar, the company&#39;s chief financial officer, mused about a &#34;backstop&#34; from the government during an appearance at the Wall Street Journal&#39;s Tech Live event earlier this month - comments she later walked back on LinkedIn.</p><p>And while ChatGPT was once the face of chatbots, Alphabet has been gaining ground with its own efforts, both casting doubt on OpenAI&#39;s future dominance and underscoring Google&#39;s success with its in-house hardware.</p><p>Singh told MarketWatch that Google&#39;s release of Gemini 3 this week could have been among the reasons for the negative market action.</p><p>The AI model, which Google said outperforms OpenAI&#39;s ChatGPT 5.1 and Claude Sonnet 4.5 in areas such as scientific reasoning and agentic tasks, was trained on the company&#39;s tensor processing units. In Singh&#39;s view, that shows that Google could be getting further with its capital expenditures than other hyperscalers that depend more on Nvidia for chips.</p><p>While Singh expects Google to continue being an Nvidia customer, the chip maker will likely have to rely more on other large customers such as Microsoft Corp. <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a> and <a href=\"https://laohu8.com/S/META\">Meta Platforms</a> Inc. (META), and also on OpenAI, to get the $330 billion in revenue it is modeling for next year.</p><p>&#34;I think now, with the numbers getting as big as they are for Nvidia, that question is looming again in terms of how much is going towards training [and] how much is going towards inferencing, because inferencing spend shows up in the revenue of the hyperscalers, OpenAI and Anthropic,&#34; Singh said.</p><p>Inferencing refers to the process of running AI models. Training is a sunk cost, Singh noted, because although it is important to train models to improve them, inferencing is related to the monetization of the AI models.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU1821325948.USD":"NINETY ONE GSF GLOBAL MACRO ALLOCATION \"A\" (USD) ACC","NVDA":"英伟达","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","LU1564329032.USD":"BGF DYNAMIC HIGH INCOME \"A2\" (USD) ACC","LU1334329650.SGD":"JPMorgan Investment Funds - Global Macro Opportunities A (acc) SGD-H"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2585482654","content_text":"The stock market is sensitive to everything from the path of interest rates to ominous OpenAI commentary - and now investors are digging more closely into Nvidia's earningsNvidia's fiscal third-quarter earnings report came out ahead of Wall Street's expectations, but it failed to give AI stocks a boost.The artificial-intelligence trade was already starting to crack before Nvidia Corp. reported earnings, and upbeat results from the world's largest company weren't enough to flip sentiment.That dynamic highlights growing jitters about factors far beyond Nvidia's (NVDA) control, and sets the market on a bumpy path for the balance of 2025.Nvidia's October-quarter earnings results \"were extraordinarily good, probably the best quarter they've reported this year,\" Gil Luria, D.A. Davidson's head of technology research, told MarketWatch. And initially, it seemed like those numbers would be a sufficient spark for AI stocks that had seen a comedown in recent weeks.That wasn't to be. Shares of Nvidia and other AI plays opened the next session higher but closed meaningfully lower by the end of the day. For momentum-oriented names like Sandisk Corp. $(SNDK)$, which had run up big on optimism for AI-related storage needs, the declines were especially dramatic.\"If really strong Nvidia results and a positive tone didn't send the group to new highs ... not much else is going to be a positive catalyst through the end of the year,\" Jamie Zakalik, a senior research analyst at Neuberger Berman, told MarketWatch.What gives?There's a laundry list of issues ailing the AI trade - from big-picture macroeconomic questions affecting the rate-cut outlook, to highly specific comments from key players like OpenAI that have rattled the market. Or as Ken Mahoney, the chief executive of Mahoney Asset Management, put it in emailed comments, markets are now facing a \"perfect storm.\"Thinking on a micro level, the market downturn following Nvidia's earnings could have been driven by a fund or portfolio liquidating, Luria said, and wasn't necessarily a reaction to Nvidia's report itself. By sharing that the company has visibility into $500 billion in Blackwell and Rubin revenue from now through 2026, Nvidia gave \"the longest-term outlook they've given in the last three years,\" according to Luria.That's not to say Nvidia's report was deemed to be flawless. Ipek Ozkardeskaya, a senior analyst at Swiss online bank Swissquote, said investors may be taking issue with \"swelling inventories and unusual patterns in deferred revenue\" at the chip giant.Nvidia \"has been taking in hefty prepayments from customers and then recognizing those payments as revenue ... before chips are delivered,\" Ozkardeskaya noted in emailed comments. \"This is not illegal,\" she added, but it \"could leave a gap if future orders slow.\"The fact that investors are looking closely at these elements is perhaps indicative of how the attitude on Wall Street has shifted from euphoria to vigilance.\"When you dig deep enough, you're sure to find dirt,\" Ozkardeskaya wrote. \"And people only start digging when they begin to feel uncomfortable - and that level of discomfort is rising.\"In the preceding weeks before Nvidia's earnings report, Luria said there was \"a lot of good discussion about what constitutes a bubble\" and what market behaviors are healthy or unhealthy.That said, Bloomberg Intelligence technology analyst Mandeep Singh isn't worried about Nvidia's high inventory levels. In his view, the company is trying to ramp up the capacity of graphics processing units it makes every year, and that means keeping the same allocation from Taiwan Semiconductor Manufacturing Co. Ltd.\"They don't want that allocation to go to AMD $(AMD)$ or even TPUs for that matter,\" Singh said, referring to tensor processing units designed by Google $(GOOGL)$ $(GOOG)$. \"From that perspective, I think Nvidia cares about how many units it can make and I think they are managing a very complex supply chain.\"With more than $330 billion in revenue expected next year, \"that will involve an inventory buildup,\" Singh added.As for concerns that Nvidia reported a high amount of accounts receivables on its earnings call, Neuberger Berman's Zakalik said she isn't concerned because the company's major customers are hyperscalers with large cash flows.Watching the FedWall Street's more discerning earnings reactions also relate to evolving expectations around the Federal Reserve's next interest-rate decision due out in December.\"It seemed like the market was saying it's extremely unlikely\" that there will be a cut, Zakalik said, following delayed September unemployment data released on Thursday that \"was not perfectly clean.\" Because of the government shutdown, the Fed won't be receiving October and November data until after the rate-cut decision.Fed uncertainty has been \"the largest single sentiment driver in the past few weeks,\" according to emailed comments from Mark Malek, the chief investment officer at Siebert Financial.\"Does a 25-basis-point cut in December or January really have anything to do with how well Nvidia or Meta is going to perform over the next five years?\" Malek asked. \"Please tell me you answered with a quick 'no!' But, alas, investors have gotten their minds so wrapped up in [Fed] policy that it has distorted many investors' ability to make reasonable, facts-based decisions.\"The interest-rate landscape, however, has implications for high-growth technology companies sensitive to borrowing costs.The OpenAI issueThere are questions about the AI trade beyond Nvidia's control, Zakalik said, including the debt financing by major customers like Oracle Corp. $(ORCL)$ and longer-term worries that there will be an overbuilding of AI infrastructure.Everything increasingly comes back to OpenAI, which has announced big-money deals with cloud and chip players that are in excess of its current revenue.The market is \"sensitive\" to anything related to OpenAI and its ability to pay off and build the commitments it has made over the next few years, Zakalik said.Investors are increasingly worried that OpenAI could be making promises it can't live up to as it tries to raise massive amounts of capital, Luria said. He pointed to neocloud CoreWeave Inc. (CRWV), which is borrowing money to build data centers for OpenAI. But the ChatGPT creator doesn't exactly have the money to pay for them.\"People are having bubble PTSD over that kind of behavior, and that's been an impact on the stocks for the last couple of weeks,\" Luria noted.OpenAI hasn't necessarily reassured investors recently. Sarah Friar, the company's chief financial officer, mused about a \"backstop\" from the government during an appearance at the Wall Street Journal's Tech Live event earlier this month - comments she later walked back on LinkedIn.And while ChatGPT was once the face of chatbots, Alphabet has been gaining ground with its own efforts, both casting doubt on OpenAI's future dominance and underscoring Google's success with its in-house hardware.Singh told MarketWatch that Google's release of Gemini 3 this week could have been among the reasons for the negative market action.The AI model, which Google said outperforms OpenAI's ChatGPT 5.1 and Claude Sonnet 4.5 in areas such as scientific reasoning and agentic tasks, was trained on the company's tensor processing units. In Singh's view, that shows that Google could be getting further with its capital expenditures than other hyperscalers that depend more on Nvidia for chips.While Singh expects Google to continue being an Nvidia customer, the chip maker will likely have to rely more on other large customers such as Microsoft Corp. $(MSFT)$ and Meta Platforms Inc. (META), and also on OpenAI, to get the $330 billion in revenue it is modeling for next year.\"I think now, with the numbers getting as big as they are for Nvidia, that question is looming again in terms of how much is going towards training [and] how much is going towards inferencing, because inferencing spend shows up in the revenue of the hyperscalers, OpenAI and Anthropic,\" Singh said.Inferencing refers to the process of running AI models. Training is a sunk cost, Singh noted, because although it is important to train models to improve them, inferencing is related to the monetization of the AI models.","news_type":1,"symbols_score_info":{"US30Y.BOND":0.86,"US6M.BOND":0.86,"US12M.BOND":0.86,"US2Y.BOND":0.86,"US7Y.BOND":0.86,"US5Y.BOND":0.86,"US3Y.BOND":0.86,"US10Y.BOND":0.86,"NVDA":2}},"isVote":1,"tweetType":1,"viewCount":1383,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":569687214257992,"gmtCreate":1780090113101,"gmtModify":1780091304648,"author":{"id":"3581827467372352","authorId":"3581827467372352","name":"Bungeeman","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3581827467372352","idStr":"3581827467372352"},"themes":[],"title":"","htmlText":"Memory chips to the moon!🙏","listText":"Memory chips to the moon!🙏","text":"Memory chips to the moon!🙏","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/569687214257992","repostId":"2639362515","repostType":2,"repost":{"id":"2639362515","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1780054184,"share":"https://ttm.financial/m/news/2639362515?lang=en_US&edition=fundamental","pubTime":"2026-05-29 19:29","market":"sh","language":"en","title":"AI Has Made Memory Chips More Valuable Than Oil","url":"https://stock-news.laohu8.com/highlight/detail?id=2639362515","media":"Dow Jones","summary":"Memory is now worth more than oil. Staying that way will depend on how much the notoriously volatile industry can make recent changes stick.The world's three largest memory-chip makers -- Samsung Electronics, SK Hynix and Micron Technology -- now carry market capitalizations of more than $1 trillion each. That puts them about 22% above the combined market cap of the world's three most valuable oil companies, even with Saudi Aramco weighing in on its own at nearly $1.8 trillion.Values have soared even further down the memory chain. Flash-memory maker Sandisk has seen its market cap nearly triple since March and is now worth nearly as much as PetroChina -- Asia's largest oil producer.The spending power of artificial intelligence's largest investors means a significant percentage of future memory production will be covered by multiyear contracts with more stable pricing terms. UBS analyst Tim Arcuri estimates that such contracts will cover as much as 30% of shipments of total dynamic rand","content":"<html><head></head><body><p style=\"text-align: left;\">Memory is now worth more than oil. Staying that way will depend on how much the notoriously volatile industry can make recent changes stick.</p><p style=\"text-align: left;\">The world&#39;s three largest memory-chip makers -- <a href=\"https://laohu8.com/S/SSNGY\">Samsung Electronics</a>, <a href=\"https://laohu8.com/S/HXSCL\">SK Hynix</a> and Micron Technology -- now carry market capitalizations of more than $1 trillion each. That puts them about 22% above the combined market cap of the world&#39;s three most valuable oil companies, even with Saudi Aramco weighing in on its own at nearly $1.8 trillion.</p><p style=\"text-align: left;\">Values have soared even further down the memory chain. Flash-memory maker Sandisk has seen its market cap nearly triple since March and is now worth nearly as much as PetroChina -- Asia&#39;s largest oil producer.</p><p style=\"text-align: left;\">Gains like that make memory stocks seem ripe for a fall, especially given how highly cyclical the industry has been historically. But recent changes in business practices make projected earnings far more certain. And against those future earnings, even trillion-dollar memory companies still look cheap.</p><p style=\"text-align: left;\">Like oil, memory chips are widely seen as a commodity prone to violent price swings. But artificial intelligence is now driving demand for memory chips far beyond what existing suppliers can produce, which is driving up prices to previously unseen levels. Memory makers in turn are using their newfound leverage to get customers to sign long-term agreements.</p><p style=\"text-align: left;\">Enough of those deals will recast the industry&#39;s business model in a way that will tame price volatility. The early signs of that effort are good. Micron announced the signing of its first five-year supply agreement in its last earnings report in March, and the company said at an investment conference last week that it has made &#34;meaningful progress&#34; on similar deals with other customers.</p><p style=\"text-align: left;\">In its own report last month, Sandisk said five customers had signed long-term agreements -- enough to cover more than a third of the company&#39;s production capacity for the next fiscal year.</p><p style=\"text-align: left;\">SK Hynix hasn&#39;t detailed how many of its customers have signed long-term agreements. But it has clearly talked with those customers about their future needs, given the disclosure in its last earnings call that demand &#34;far exceeds&#34; the company&#39;s supply capacity for the next three years. &#34;Memory today has become so critical that customers now see memory price and supply uncertainties as key business risks,&#34; SK Hynix Chief Financial Officer Kim Woo-hyun said on the call.</p><p style=\"text-align: left;\">The spending power of artificial intelligence&#39;s largest investors means a significant percentage of future memory production will be covered by multiyear contracts with more stable pricing terms. UBS analyst Tim Arcuri estimates that such contracts will cover as much as 30% of shipments of total dynamic random-access memory, or DRAM, next year. He thinks hyperscalers -- huge tech companies such as Microsoft, Alphabet&#39;s Google and <a href=\"https://laohu8.com/S/AMZN\">Amazon</a>.com -- have already secured around two-thirds of global production for the type of DRAM used in servers.</p><p style=\"text-align: left;\">&#34;Said differently, hyperscalers appear increasingly willing to exchange pricing for multiyear supply visibility and greater predictability around future deployment economics,&#34; Arcuri wrote in a report earlier this week.</p><p style=\"text-align: left;\">Long-term contracts make future earnings from memory companies far more predictable. And those earnings are substantial. Micron&#39;s adjusted per-share earnings in the February-ended quarter exploded to $12.20 from $1.56 in the year-ago period. Wall Street expects earnings per share to top $60 for the fiscal year ending in August -- and to come in around $106 for the next fiscal year, according to estimates from Visible Alpha.</p><p style=\"text-align: left;\">So at its current market cap of just over $1 trillion, Micron trades at less than 10 times projected earnings for the next four quarters. That puts its multiple in the bottom 10% of the S&amp;P 500, with Sandisk not far above at around 10.5 times forward earnings.</p><p style=\"text-align: left;\">The Korean players are even cheaper, with Samsung and SK Hynix in the six- to seven-times range, per FactSet data. The 30 stocks on the PHLX Semiconductor Index average a forward earnings multiple of around 26 times.</p><p style=\"text-align: left;\">Memory may be the new oil, but memory investors aren&#39;t getting gouged at the pump yet.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AI Has Made Memory Chips More Valuable Than Oil</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAI Has Made Memory Chips More Valuable Than Oil\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-29 19:29</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">Memory is now worth more than oil. Staying that way will depend on how much the notoriously volatile industry can make recent changes stick.</p><p style=\"text-align: left;\">The world&#39;s three largest memory-chip makers -- <a href=\"https://laohu8.com/S/SSNGY\">Samsung Electronics</a>, <a href=\"https://laohu8.com/S/HXSCL\">SK Hynix</a> and Micron Technology -- now carry market capitalizations of more than $1 trillion each. That puts them about 22% above the combined market cap of the world&#39;s three most valuable oil companies, even with Saudi Aramco weighing in on its own at nearly $1.8 trillion.</p><p style=\"text-align: left;\">Values have soared even further down the memory chain. Flash-memory maker Sandisk has seen its market cap nearly triple since March and is now worth nearly as much as PetroChina -- Asia&#39;s largest oil producer.</p><p style=\"text-align: left;\">Gains like that make memory stocks seem ripe for a fall, especially given how highly cyclical the industry has been historically. But recent changes in business practices make projected earnings far more certain. And against those future earnings, even trillion-dollar memory companies still look cheap.</p><p style=\"text-align: left;\">Like oil, memory chips are widely seen as a commodity prone to violent price swings. But artificial intelligence is now driving demand for memory chips far beyond what existing suppliers can produce, which is driving up prices to previously unseen levels. Memory makers in turn are using their newfound leverage to get customers to sign long-term agreements.</p><p style=\"text-align: left;\">Enough of those deals will recast the industry&#39;s business model in a way that will tame price volatility. The early signs of that effort are good. Micron announced the signing of its first five-year supply agreement in its last earnings report in March, and the company said at an investment conference last week that it has made &#34;meaningful progress&#34; on similar deals with other customers.</p><p style=\"text-align: left;\">In its own report last month, Sandisk said five customers had signed long-term agreements -- enough to cover more than a third of the company&#39;s production capacity for the next fiscal year.</p><p style=\"text-align: left;\">SK Hynix hasn&#39;t detailed how many of its customers have signed long-term agreements. But it has clearly talked with those customers about their future needs, given the disclosure in its last earnings call that demand &#34;far exceeds&#34; the company&#39;s supply capacity for the next three years. &#34;Memory today has become so critical that customers now see memory price and supply uncertainties as key business risks,&#34; SK Hynix Chief Financial Officer Kim Woo-hyun said on the call.</p><p style=\"text-align: left;\">The spending power of artificial intelligence&#39;s largest investors means a significant percentage of future memory production will be covered by multiyear contracts with more stable pricing terms. UBS analyst Tim Arcuri estimates that such contracts will cover as much as 30% of shipments of total dynamic random-access memory, or DRAM, next year. He thinks hyperscalers -- huge tech companies such as Microsoft, Alphabet&#39;s Google and <a href=\"https://laohu8.com/S/AMZN\">Amazon</a>.com -- have already secured around two-thirds of global production for the type of DRAM used in servers.</p><p style=\"text-align: left;\">&#34;Said differently, hyperscalers appear increasingly willing to exchange pricing for multiyear supply visibility and greater predictability around future deployment economics,&#34; Arcuri wrote in a report earlier this week.</p><p style=\"text-align: left;\">Long-term contracts make future earnings from memory companies far more predictable. And those earnings are substantial. Micron&#39;s adjusted per-share earnings in the February-ended quarter exploded to $12.20 from $1.56 in the year-ago period. Wall Street expects earnings per share to top $60 for the fiscal year ending in August -- and to come in around $106 for the next fiscal year, according to estimates from Visible Alpha.</p><p style=\"text-align: left;\">So at its current market cap of just over $1 trillion, Micron trades at less than 10 times projected earnings for the next four quarters. That puts its multiple in the bottom 10% of the S&amp;P 500, with Sandisk not far above at around 10.5 times forward earnings.</p><p style=\"text-align: left;\">The Korean players are even cheaper, with Samsung and SK Hynix in the six- to seven-times range, per FactSet data. The 30 stocks on the PHLX Semiconductor Index average a forward earnings multiple of around 26 times.</p><p style=\"text-align: left;\">Memory may be the new oil, but memory investors aren&#39;t getting gouged at the pump yet.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","WDCX":"Tradr 2X Long WDC Daily ETF","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","BK4554":"元宇宙及AR概念","BK4553":"喜马拉雅资本持仓","SNDK":"闪迪","STX":"希捷科技","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4585":"ETF&股票定投概念","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","SIMO":"慧荣科技","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0056508442.USD":"贝莱德世界科技基金A2","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4588":"碎股","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","BK4170":"电脑硬件、储存设备及电脑周边","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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Staying that way will depend on how much the notoriously volatile industry can make recent changes stick.The world's three largest memory-chip makers -- Samsung Electronics, SK Hynix and Micron Technology -- now carry market capitalizations of more than $1 trillion each. That puts them about 22% above the combined market cap of the world's three most valuable oil companies, even with Saudi Aramco weighing in on its own at nearly $1.8 trillion.Values have soared even further down the memory chain. Flash-memory maker Sandisk has seen its market cap nearly triple since March and is now worth nearly as much as PetroChina -- Asia's largest oil producer.Gains like that make memory stocks seem ripe for a fall, especially given how highly cyclical the industry has been historically. But recent changes in business practices make projected earnings far more certain. And against those future earnings, even trillion-dollar memory companies still look cheap.Like oil, memory chips are widely seen as a commodity prone to violent price swings. But artificial intelligence is now driving demand for memory chips far beyond what existing suppliers can produce, which is driving up prices to previously unseen levels. Memory makers in turn are using their newfound leverage to get customers to sign long-term agreements.Enough of those deals will recast the industry's business model in a way that will tame price volatility. The early signs of that effort are good. Micron announced the signing of its first five-year supply agreement in its last earnings report in March, and the company said at an investment conference last week that it has made \"meaningful progress\" on similar deals with other customers.In its own report last month, Sandisk said five customers had signed long-term agreements -- enough to cover more than a third of the company's production capacity for the next fiscal year.SK Hynix hasn't detailed how many of its customers have signed long-term agreements. But it has clearly talked with those customers about their future needs, given the disclosure in its last earnings call that demand \"far exceeds\" the company's supply capacity for the next three years. \"Memory today has become so critical that customers now see memory price and supply uncertainties as key business risks,\" SK Hynix Chief Financial Officer Kim Woo-hyun said on the call.The spending power of artificial intelligence's largest investors means a significant percentage of future memory production will be covered by multiyear contracts with more stable pricing terms. UBS analyst Tim Arcuri estimates that such contracts will cover as much as 30% of shipments of total dynamic random-access memory, or DRAM, next year. He thinks hyperscalers -- huge tech companies such as Microsoft, Alphabet's Google and Amazon.com -- have already secured around two-thirds of global production for the type of DRAM used in servers.\"Said differently, hyperscalers appear increasingly willing to exchange pricing for multiyear supply visibility and greater predictability around future deployment economics,\" Arcuri wrote in a report earlier this week.Long-term contracts make future earnings from memory companies far more predictable. And those earnings are substantial. Micron's adjusted per-share earnings in the February-ended quarter exploded to $12.20 from $1.56 in the year-ago period. Wall Street expects earnings per share to top $60 for the fiscal year ending in August -- and to come in around $106 for the next fiscal year, according to estimates from Visible Alpha.So at its current market cap of just over $1 trillion, Micron trades at less than 10 times projected earnings for the next four quarters. That puts its multiple in the bottom 10% of the S&P 500, with Sandisk not far above at around 10.5 times forward earnings.The Korean players are even cheaper, with Samsung and SK Hynix in the six- to seven-times range, per FactSet data. The 30 stocks on the PHLX Semiconductor Index average a forward earnings multiple of around 26 times.Memory may be the new oil, but memory investors aren't getting gouged at the pump yet.","news_type":1,"symbols_score_info":{"MU":1.95,"SNXX":0.6,"MUD":0.6,"SNDU":0.6,"MULL":0.6,"MUU":0.6,"SNDK":1.86,"WDCX":0.6,"RMBS":2,"WDC":2,"PSTG":2,"STX":2,"SIMO":2}},"isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":565923812495712,"gmtCreate":1779198194414,"gmtModify":1779198657455,"author":{"id":"3581827467372352","authorId":"3581827467372352","name":"Bungeeman","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3581827467372352","idStr":"3581827467372352"},"themes":[],"title":"","htmlText":"Is this some bait and switch tactic&nbsp;","listText":"Is this some bait and switch tactic&nbsp;","text":"Is this some bait and switch tactic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/565923812495712","repostId":"2636856202","repostType":2,"repost":{"id":"2636856202","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1779195426,"share":"https://ttm.financial/m/news/2636856202?lang=en_US&edition=fundamental","pubTime":"2026-05-19 20:57","market":"nz","language":"en","title":"Sandisk Stock Can Rise Another 52%, Says Citi. Why Investors Should Buy","url":"https://stock-news.laohu8.com/highlight/detail?id=2636856202","media":"Dow Jones","summary":"$Sandisk(SNDK)$ stock can continue its historic run as memory shortages persist and share buybacks pick up, according to Citi Research.The firm reiterated a Buy rating on the the flash memory...","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/SNDK\">Sandisk</a> stock can continue its historic run as memory shortages persist and share buybacks pick up, according to Citi Research.</p><p>The firm reiterated a Buy rating on the the flash memory supplier and boosted its price target to $2,025 from $1,300 in a research note Tuesday. That would represent 52% growth from Sandisk&#39;s closing price Monday of $1,333.01.</p><p>Sandisk has soared an astounding 3,218% over the last 12 months as its solid-state drives, or eSSDs, have become a crucial component in artificial-intelligence data centers.</p><p>&#34;We remain constructive on a highly favorable [supply-demand] environment with clear indications of persistence with customer demand conversations through [2030],&#34; wrote Citi analyst Asiya Merchant.</p><p>A strong earnings report last week from Japanese competitor Kioxia Holdings reinforced that view. Kioxia reported a roughly 85% quarter-over-quarter jump in revenue and guided for 75% sequential growth in the current period. The results beat Wall Street&#39;s estimates, Citi noted.</p><p>Buybacks are another factor working in shareholders&#39; favor. Sandisk announced a $6 billion share repurchase authorization last quarter, representing around 3% of its current market capitalization. Citi expects that number to rise given the company&#39;s growing free cash flow.</p><p>For every 1% reduction in share count, Citi estimates a $2 jump in earnings per share. Buybacks aren&#39;t currently factored into its model. In other words, that $2,025 price target may not be telling the full story.</p><p>Even with Sandisk&#39;s astronomical rise over the last year, most analysts agree with Citi. Of the 26 firms polled by FactSet, 20 rate the stock a Buy and just 1 rates it a Sell. Citi is the fifth firm to assign a price target of $2,000 or higher.</p><p>Sandisk was down 3.4% to $1,288.20 in premarket trading Tuesday as investors rotated out of hardware stocks. Fellow memory player Micron Technology declined 2.5%. Data-storage duo Seagate Technology and <a href=\"https://laohu8.com/S/WDC\">Western Digital</a> -- Sandisk&#39;s former parent company -- dropped 3.2% and 3.7%, respectively.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sandisk Stock Can Rise Another 52%, Says Citi. Why Investors Should Buy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSandisk Stock Can Rise Another 52%, Says Citi. Why Investors Should Buy\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-19 20:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/SNDK\">Sandisk</a> stock can continue its historic run as memory shortages persist and share buybacks pick up, according to Citi Research.</p><p>The firm reiterated a Buy rating on the the flash memory supplier and boosted its price target to $2,025 from $1,300 in a research note Tuesday. That would represent 52% growth from Sandisk&#39;s closing price Monday of $1,333.01.</p><p>Sandisk has soared an astounding 3,218% over the last 12 months as its solid-state drives, or eSSDs, have become a crucial component in artificial-intelligence data centers.</p><p>&#34;We remain constructive on a highly favorable [supply-demand] environment with clear indications of persistence with customer demand conversations through [2030],&#34; wrote Citi analyst Asiya Merchant.</p><p>A strong earnings report last week from Japanese competitor Kioxia Holdings reinforced that view. Kioxia reported a roughly 85% quarter-over-quarter jump in revenue and guided for 75% sequential growth in the current period. The results beat Wall Street&#39;s estimates, Citi noted.</p><p>Buybacks are another factor working in shareholders&#39; favor. Sandisk announced a $6 billion share repurchase authorization last quarter, representing around 3% of its current market capitalization. Citi expects that number to rise given the company&#39;s growing free cash flow.</p><p>For every 1% reduction in share count, Citi estimates a $2 jump in earnings per share. Buybacks aren&#39;t currently factored into its model. In other words, that $2,025 price target may not be telling the full story.</p><p>Even with Sandisk&#39;s astronomical rise over the last year, most analysts agree with Citi. Of the 26 firms polled by FactSet, 20 rate the stock a Buy and just 1 rates it a Sell. Citi is the fifth firm to assign a price target of $2,000 or higher.</p><p>Sandisk was down 3.4% to $1,288.20 in premarket trading Tuesday as investors rotated out of hardware stocks. Fellow memory player Micron Technology declined 2.5%. Data-storage duo Seagate Technology and <a href=\"https://laohu8.com/S/WDC\">Western Digital</a> -- Sandisk&#39;s former parent company -- dropped 3.2% and 3.7%, respectively.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","BK4605":"半导体精选","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU0109392836.USD":"富兰克林科技股A","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","SNXX":"Tradr 2X Long SNDK Daily ETF","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","BK4527":"明星科技股","LU0444971666.USD":"天利全球科技基金","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","BK4575":"芯片概念","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4579":"人工智能","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","BK4211":"区域性银行","LU0082616367.USD":"摩根大通美国科技A（dist）","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU2048586759.USD":"ALLIANZ SMART ENERGY \"AT\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","MUU":"2倍做多MU ETF-Direxion","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","SNDK":"闪迪","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","BK4532":"文艺复兴科技持仓","BK4512":"苹果概念","BK4543":"AI","LU1069347547.HKD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (HKD) INC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","BK4141":"半导体产品","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","WDCX":"Tradr 2X Long WDC Daily ETF","LU1046421795.USD":"富达环球科技A-ACC","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","BK4554":"元宇宙及AR概念","BK4553":"喜马拉雅资本持仓","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4585":"ETF&股票定投概念","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0056508442.USD":"贝莱德世界科技基金A2","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4588":"碎股","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","BK4170":"电脑硬件、储存设备及电脑周边","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","LU1035773651.USD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (USD) INC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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That would represent 52% growth from Sandisk's closing price Monday of $1,333.01.Sandisk has soared an astounding 3,218% over the last 12 months as its solid-state drives, or eSSDs, have become a crucial component in artificial-intelligence data centers.\"We remain constructive on a highly favorable [supply-demand] environment with clear indications of persistence with customer demand conversations through [2030],\" wrote Citi analyst Asiya Merchant.A strong earnings report last week from Japanese competitor Kioxia Holdings reinforced that view. Kioxia reported a roughly 85% quarter-over-quarter jump in revenue and guided for 75% sequential growth in the current period. The results beat Wall Street's estimates, Citi noted.Buybacks are another factor working in shareholders' favor. Sandisk announced a $6 billion share repurchase authorization last quarter, representing around 3% of its current market capitalization. Citi expects that number to rise given the company's growing free cash flow.For every 1% reduction in share count, Citi estimates a $2 jump in earnings per share. Buybacks aren't currently factored into its model. In other words, that $2,025 price target may not be telling the full story.Even with Sandisk's astronomical rise over the last year, most analysts agree with Citi. Of the 26 firms polled by FactSet, 20 rate the stock a Buy and just 1 rates it a Sell. Citi is the fifth firm to assign a price target of $2,000 or higher.Sandisk was down 3.4% to $1,288.20 in premarket trading Tuesday as investors rotated out of hardware stocks. Fellow memory player Micron Technology declined 2.5%. Data-storage duo Seagate Technology and Western Digital -- Sandisk's former parent company -- dropped 3.2% and 3.7%, respectively.","news_type":1,"symbols_score_info":{"SNXX":0.6,"MUU":0.6,"SNDK":1.98,"SNDU":0.6,"MULL":0.6,"WDCX":0.6,"MUD":0.6}},"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":503601461666040,"gmtCreate":1763958162719,"gmtModify":1763959290770,"author":{"id":"3581827467372352","authorId":"3581827467372352","name":"Bungeeman","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3581827467372352","idStr":"3581827467372352"},"themes":[],"title":"","htmlText":"All these critics only start blabbering once it drops. If nvidia had been on an upward momentum, all these hot air wouldn't be existent in the first place&nbsp;","listText":"All these critics only start blabbering once it drops. If nvidia had been on an upward momentum, all these hot air wouldn't be existent in the first place&nbsp;","text":"All these critics only start blabbering once it drops. If nvidia had been on an upward momentum, all these hot air wouldn't be existent in the first place","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/503601461666040","repostId":"2585482654","repostType":2,"repost":{"id":"2585482654","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1763956296,"share":"https://ttm.financial/m/news/2585482654?lang=en_US&edition=fundamental","pubTime":"2025-11-24 11:51","market":"us","language":"en","title":"Why the Once-Invincible Nvidia Can't Save the AI Trade","url":"https://stock-news.laohu8.com/highlight/detail?id=2585482654","media":"Dow Jones","summary":"The stock market is sensitive to everything from the path of interest rates to ominous OpenAI commentary - and now investors are digging more closely into Nvidia's earnings. Nvidia's fiscal third-quarter earnings report came out ahead of Wall Street's expectations, but it failed to give AI stocks a boost.The artificial-intelligence trade was already starting to crack before Nvidia Corp. reported earnings, and upbeat results from the world's largest company weren't enough to flip sentiment.That dynamic highlights growing jitters about factors far beyond Nvidia's  control, and sets the market on a bumpy path for the balance of 2025.That wasn't to be. Shares of Nvidia and other AI plays opened the next session higher but closed meaningfully lower by the end of the day. For momentum-oriented names like Sandisk Corp. , which had run up big on optimism for AI-related storage needs, the declines were especially dramatic.Nvidia \"has been taking in hefty prepayments from customers and then reco","content":"<html><head></head><body><p>The stock market is sensitive to everything from the path of interest rates to ominous OpenAI commentary - and now investors are digging more closely into Nvidia&#39;s earnings</p><p>Nvidia&#39;s fiscal third-quarter earnings report came out ahead of Wall Street&#39;s expectations, but it failed to give AI stocks a boost.</p><p>The artificial-intelligence trade was already starting to crack before Nvidia Corp. reported earnings, and upbeat results from the world&#39;s largest company weren&#39;t enough to flip sentiment.</p><p>That dynamic highlights growing jitters about factors far beyond Nvidia&#39;s (NVDA) control, and sets the market on a bumpy path for the balance of 2025.</p><p>Nvidia&#39;s October-quarter earnings results &#34;were extraordinarily good, probably the best quarter they&#39;ve reported this year,&#34; Gil Luria, D.A. Davidson&#39;s head of technology research, told MarketWatch. And initially, it seemed like those numbers would be a sufficient spark for AI stocks that had seen a comedown in recent weeks.</p><p>That wasn&#39;t to be. Shares of Nvidia and other AI plays opened the next session higher but closed meaningfully lower by the end of the day. For momentum-oriented names like Sandisk Corp. <a href=\"https://laohu8.com/S/SNDK\">$(SNDK)$</a>, which had run up big on optimism for AI-related storage needs, the declines were especially dramatic.</p><p>&#34;If really strong Nvidia results and a positive tone didn&#39;t send the group to new highs ... not much else is going to be a positive catalyst through the end of the year,&#34; Jamie Zakalik, a senior research analyst at Neuberger Berman, told MarketWatch.</p><p><strong>What gives?</strong></p><p>There&#39;s a laundry list of issues ailing the AI trade - from big-picture macroeconomic questions affecting the rate-cut outlook, to highly specific comments from key players like OpenAI that have rattled the market. Or as Ken Mahoney, the chief executive of Mahoney Asset Management, put it in emailed comments, markets are now facing a &#34;perfect storm.&#34;</p><p>Thinking on a micro level, the market downturn following Nvidia&#39;s earnings could have been driven by a fund or portfolio liquidating, Luria said, and wasn&#39;t necessarily a reaction to Nvidia&#39;s report itself. By sharing that the company has visibility into $500 billion in Blackwell and Rubin revenue from now through 2026, Nvidia gave &#34;the longest-term outlook they&#39;ve given in the last three years,&#34; according to Luria.</p><p>That&#39;s not to say Nvidia&#39;s report was deemed to be flawless. Ipek Ozkardeskaya, a senior analyst at Swiss online bank Swissquote, said investors may be taking issue with &#34;swelling inventories and unusual patterns in deferred revenue&#34; at the chip giant.</p><p>Nvidia &#34;has been taking in hefty prepayments from customers and then recognizing those payments as revenue ... before chips are delivered,&#34; Ozkardeskaya noted in emailed comments. &#34;This is not illegal,&#34; she added, but it &#34;could leave a gap if future orders slow.&#34;</p><p>The fact that investors are looking closely at these elements is perhaps indicative of how the attitude on Wall Street has shifted from euphoria to vigilance.</p><p>&#34;When you dig deep enough, you&#39;re sure to find dirt,&#34; Ozkardeskaya wrote. &#34;And people only start digging when they begin to feel uncomfortable - and that level of discomfort is rising.&#34;</p><p>In the preceding weeks before Nvidia&#39;s earnings report, Luria said there was &#34;a lot of good discussion about what constitutes a bubble&#34; and what market behaviors are healthy or unhealthy.</p><p>That said, Bloomberg Intelligence technology analyst Mandeep Singh isn&#39;t worried about Nvidia&#39;s high inventory levels. In his view, the company is trying to ramp up the capacity of graphics processing units it makes every year, and that means keeping the same allocation from <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing Co. Ltd.</a></p><p>&#34;They don&#39;t want that allocation to go to AMD <a href=\"https://laohu8.com/S/AMD\">$(AMD)$</a> or even TPUs for that matter,&#34; Singh said, referring to tensor processing units designed by Google <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> <a href=\"https://laohu8.com/S/GOOG\">$(GOOG)$</a>. &#34;From that perspective, I think Nvidia cares about how many units it can make and I think they are managing a very complex supply chain.&#34;</p><p>With more than $330 billion in revenue expected next year, &#34;that will involve an inventory buildup,&#34; Singh added.</p><p>As for concerns that Nvidia reported a high amount of accounts receivables on its earnings call, Neuberger Berman&#39;s Zakalik said she isn&#39;t concerned because the company&#39;s major customers are hyperscalers with large cash flows.</p><p><strong>Watching the Fed</strong></p><p>Wall Street&#39;s more discerning earnings reactions also relate to evolving expectations around the Federal Reserve&#39;s next interest-rate decision due out in December.</p><p>&#34;It seemed like the market was saying it&#39;s extremely unlikely&#34; that there will be a cut, Zakalik said, following delayed September unemployment data released on Thursday that &#34;was not perfectly clean.&#34; Because of the government shutdown, the Fed won&#39;t be receiving October and November data until after the rate-cut decision.</p><p>Fed uncertainty has been &#34;the largest single sentiment driver in the past few weeks,&#34; according to emailed comments from Mark Malek, the chief investment officer at Siebert Financial.</p><p>&#34;Does a 25-basis-point cut in December or January really have anything to do with how well Nvidia or Meta is going to perform over the next five years?&#34; Malek asked. &#34;Please tell me you answered with a quick &#39;no!&#39; But, alas, investors have gotten their minds so wrapped up in [Fed] policy that it has distorted many investors&#39; ability to make reasonable, facts-based decisions.&#34;</p><p>The interest-rate landscape, however, has implications for high-growth technology companies sensitive to borrowing costs.</p><p><strong>The OpenAI issue</strong></p><p>There are questions about the AI trade beyond Nvidia&#39;s control, Zakalik said, including the debt financing by major customers like <a href=\"https://laohu8.com/S/OCLCF\">Oracle Corp.</a> <a href=\"https://laohu8.com/S/ORCL\">$(ORCL)$</a> and longer-term worries that there will be an overbuilding of AI infrastructure.</p><p>Everything increasingly comes back to OpenAI, which has announced big-money deals with cloud and chip players that are in excess of its current revenue.</p><p>The market is &#34;sensitive&#34; to anything related to OpenAI and its ability to pay off and build the commitments it has made over the next few years, Zakalik said.</p><p>Investors are increasingly worried that OpenAI could be making promises it can&#39;t live up to as it tries to raise massive amounts of capital, Luria said. He pointed to neocloud <a href=\"https://laohu8.com/S/CRWV\">CoreWeave</a> Inc. (CRWV), which is borrowing money to build data centers for OpenAI. But the ChatGPT creator doesn&#39;t exactly have the money to pay for them.</p><p>&#34;People are having bubble PTSD over that kind of behavior, and that&#39;s been an impact on the stocks for the last couple of weeks,&#34; Luria noted.</p><p>OpenAI hasn&#39;t necessarily reassured investors recently. Sarah Friar, the company&#39;s chief financial officer, mused about a &#34;backstop&#34; from the government during an appearance at the Wall Street Journal&#39;s Tech Live event earlier this month - comments she later walked back on LinkedIn.</p><p>And while ChatGPT was once the face of chatbots, Alphabet has been gaining ground with its own efforts, both casting doubt on OpenAI&#39;s future dominance and underscoring Google&#39;s success with its in-house hardware.</p><p>Singh told MarketWatch that Google&#39;s release of Gemini 3 this week could have been among the reasons for the negative market action.</p><p>The AI model, which Google said outperforms OpenAI&#39;s ChatGPT 5.1 and Claude Sonnet 4.5 in areas such as scientific reasoning and agentic tasks, was trained on the company&#39;s tensor processing units. In Singh&#39;s view, that shows that Google could be getting further with its capital expenditures than other hyperscalers that depend more on Nvidia for chips.</p><p>While Singh expects Google to continue being an Nvidia customer, the chip maker will likely have to rely more on other large customers such as Microsoft Corp. <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a> and <a href=\"https://laohu8.com/S/META\">Meta Platforms</a> Inc. (META), and also on OpenAI, to get the $330 billion in revenue it is modeling for next year.</p><p>&#34;I think now, with the numbers getting as big as they are for Nvidia, that question is looming again in terms of how much is going towards training [and] how much is going towards inferencing, because inferencing spend shows up in the revenue of the hyperscalers, OpenAI and Anthropic,&#34; Singh said.</p><p>Inferencing refers to the process of running AI models. Training is a sunk cost, Singh noted, because although it is important to train models to improve them, inferencing is related to the monetization of the AI models.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why the Once-Invincible Nvidia Can't Save the AI Trade</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy the Once-Invincible Nvidia Can't Save the AI Trade\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-11-24 11:51</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The stock market is sensitive to everything from the path of interest rates to ominous OpenAI commentary - and now investors are digging more closely into Nvidia&#39;s earnings</p><p>Nvidia&#39;s fiscal third-quarter earnings report came out ahead of Wall Street&#39;s expectations, but it failed to give AI stocks a boost.</p><p>The artificial-intelligence trade was already starting to crack before Nvidia Corp. reported earnings, and upbeat results from the world&#39;s largest company weren&#39;t enough to flip sentiment.</p><p>That dynamic highlights growing jitters about factors far beyond Nvidia&#39;s (NVDA) control, and sets the market on a bumpy path for the balance of 2025.</p><p>Nvidia&#39;s October-quarter earnings results &#34;were extraordinarily good, probably the best quarter they&#39;ve reported this year,&#34; Gil Luria, D.A. Davidson&#39;s head of technology research, told MarketWatch. And initially, it seemed like those numbers would be a sufficient spark for AI stocks that had seen a comedown in recent weeks.</p><p>That wasn&#39;t to be. Shares of Nvidia and other AI plays opened the next session higher but closed meaningfully lower by the end of the day. For momentum-oriented names like Sandisk Corp. <a href=\"https://laohu8.com/S/SNDK\">$(SNDK)$</a>, which had run up big on optimism for AI-related storage needs, the declines were especially dramatic.</p><p>&#34;If really strong Nvidia results and a positive tone didn&#39;t send the group to new highs ... not much else is going to be a positive catalyst through the end of the year,&#34; Jamie Zakalik, a senior research analyst at Neuberger Berman, told MarketWatch.</p><p><strong>What gives?</strong></p><p>There&#39;s a laundry list of issues ailing the AI trade - from big-picture macroeconomic questions affecting the rate-cut outlook, to highly specific comments from key players like OpenAI that have rattled the market. Or as Ken Mahoney, the chief executive of Mahoney Asset Management, put it in emailed comments, markets are now facing a &#34;perfect storm.&#34;</p><p>Thinking on a micro level, the market downturn following Nvidia&#39;s earnings could have been driven by a fund or portfolio liquidating, Luria said, and wasn&#39;t necessarily a reaction to Nvidia&#39;s report itself. By sharing that the company has visibility into $500 billion in Blackwell and Rubin revenue from now through 2026, Nvidia gave &#34;the longest-term outlook they&#39;ve given in the last three years,&#34; according to Luria.</p><p>That&#39;s not to say Nvidia&#39;s report was deemed to be flawless. Ipek Ozkardeskaya, a senior analyst at Swiss online bank Swissquote, said investors may be taking issue with &#34;swelling inventories and unusual patterns in deferred revenue&#34; at the chip giant.</p><p>Nvidia &#34;has been taking in hefty prepayments from customers and then recognizing those payments as revenue ... before chips are delivered,&#34; Ozkardeskaya noted in emailed comments. &#34;This is not illegal,&#34; she added, but it &#34;could leave a gap if future orders slow.&#34;</p><p>The fact that investors are looking closely at these elements is perhaps indicative of how the attitude on Wall Street has shifted from euphoria to vigilance.</p><p>&#34;When you dig deep enough, you&#39;re sure to find dirt,&#34; Ozkardeskaya wrote. &#34;And people only start digging when they begin to feel uncomfortable - and that level of discomfort is rising.&#34;</p><p>In the preceding weeks before Nvidia&#39;s earnings report, Luria said there was &#34;a lot of good discussion about what constitutes a bubble&#34; and what market behaviors are healthy or unhealthy.</p><p>That said, Bloomberg Intelligence technology analyst Mandeep Singh isn&#39;t worried about Nvidia&#39;s high inventory levels. In his view, the company is trying to ramp up the capacity of graphics processing units it makes every year, and that means keeping the same allocation from <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing Co. Ltd.</a></p><p>&#34;They don&#39;t want that allocation to go to AMD <a href=\"https://laohu8.com/S/AMD\">$(AMD)$</a> or even TPUs for that matter,&#34; Singh said, referring to tensor processing units designed by Google <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> <a href=\"https://laohu8.com/S/GOOG\">$(GOOG)$</a>. &#34;From that perspective, I think Nvidia cares about how many units it can make and I think they are managing a very complex supply chain.&#34;</p><p>With more than $330 billion in revenue expected next year, &#34;that will involve an inventory buildup,&#34; Singh added.</p><p>As for concerns that Nvidia reported a high amount of accounts receivables on its earnings call, Neuberger Berman&#39;s Zakalik said she isn&#39;t concerned because the company&#39;s major customers are hyperscalers with large cash flows.</p><p><strong>Watching the Fed</strong></p><p>Wall Street&#39;s more discerning earnings reactions also relate to evolving expectations around the Federal Reserve&#39;s next interest-rate decision due out in December.</p><p>&#34;It seemed like the market was saying it&#39;s extremely unlikely&#34; that there will be a cut, Zakalik said, following delayed September unemployment data released on Thursday that &#34;was not perfectly clean.&#34; Because of the government shutdown, the Fed won&#39;t be receiving October and November data until after the rate-cut decision.</p><p>Fed uncertainty has been &#34;the largest single sentiment driver in the past few weeks,&#34; according to emailed comments from Mark Malek, the chief investment officer at Siebert Financial.</p><p>&#34;Does a 25-basis-point cut in December or January really have anything to do with how well Nvidia or Meta is going to perform over the next five years?&#34; Malek asked. &#34;Please tell me you answered with a quick &#39;no!&#39; But, alas, investors have gotten their minds so wrapped up in [Fed] policy that it has distorted many investors&#39; ability to make reasonable, facts-based decisions.&#34;</p><p>The interest-rate landscape, however, has implications for high-growth technology companies sensitive to borrowing costs.</p><p><strong>The OpenAI issue</strong></p><p>There are questions about the AI trade beyond Nvidia&#39;s control, Zakalik said, including the debt financing by major customers like <a href=\"https://laohu8.com/S/OCLCF\">Oracle Corp.</a> <a href=\"https://laohu8.com/S/ORCL\">$(ORCL)$</a> and longer-term worries that there will be an overbuilding of AI infrastructure.</p><p>Everything increasingly comes back to OpenAI, which has announced big-money deals with cloud and chip players that are in excess of its current revenue.</p><p>The market is &#34;sensitive&#34; to anything related to OpenAI and its ability to pay off and build the commitments it has made over the next few years, Zakalik said.</p><p>Investors are increasingly worried that OpenAI could be making promises it can&#39;t live up to as it tries to raise massive amounts of capital, Luria said. He pointed to neocloud <a href=\"https://laohu8.com/S/CRWV\">CoreWeave</a> Inc. (CRWV), which is borrowing money to build data centers for OpenAI. But the ChatGPT creator doesn&#39;t exactly have the money to pay for them.</p><p>&#34;People are having bubble PTSD over that kind of behavior, and that&#39;s been an impact on the stocks for the last couple of weeks,&#34; Luria noted.</p><p>OpenAI hasn&#39;t necessarily reassured investors recently. Sarah Friar, the company&#39;s chief financial officer, mused about a &#34;backstop&#34; from the government during an appearance at the Wall Street Journal&#39;s Tech Live event earlier this month - comments she later walked back on LinkedIn.</p><p>And while ChatGPT was once the face of chatbots, Alphabet has been gaining ground with its own efforts, both casting doubt on OpenAI&#39;s future dominance and underscoring Google&#39;s success with its in-house hardware.</p><p>Singh told MarketWatch that Google&#39;s release of Gemini 3 this week could have been among the reasons for the negative market action.</p><p>The AI model, which Google said outperforms OpenAI&#39;s ChatGPT 5.1 and Claude Sonnet 4.5 in areas such as scientific reasoning and agentic tasks, was trained on the company&#39;s tensor processing units. In Singh&#39;s view, that shows that Google could be getting further with its capital expenditures than other hyperscalers that depend more on Nvidia for chips.</p><p>While Singh expects Google to continue being an Nvidia customer, the chip maker will likely have to rely more on other large customers such as Microsoft Corp. <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a> and <a href=\"https://laohu8.com/S/META\">Meta Platforms</a> Inc. (META), and also on OpenAI, to get the $330 billion in revenue it is modeling for next year.</p><p>&#34;I think now, with the numbers getting as big as they are for Nvidia, that question is looming again in terms of how much is going towards training [and] how much is going towards inferencing, because inferencing spend shows up in the revenue of the hyperscalers, OpenAI and Anthropic,&#34; Singh said.</p><p>Inferencing refers to the process of running AI models. Training is a sunk cost, Singh noted, because although it is important to train models to improve them, inferencing is related to the monetization of the AI models.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","LU1821325948.USD":"NINETY ONE GSF GLOBAL MACRO ALLOCATION \"A\" (USD) ACC","NVDA":"英伟达","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","LU1564329032.USD":"BGF DYNAMIC HIGH INCOME \"A2\" (USD) ACC","LU1334329650.SGD":"JPMorgan Investment Funds - Global Macro Opportunities A (acc) SGD-H"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2585482654","content_text":"The stock market is sensitive to everything from the path of interest rates to ominous OpenAI commentary - and now investors are digging more closely into Nvidia's earningsNvidia's fiscal third-quarter earnings report came out ahead of Wall Street's expectations, but it failed to give AI stocks a boost.The artificial-intelligence trade was already starting to crack before Nvidia Corp. reported earnings, and upbeat results from the world's largest company weren't enough to flip sentiment.That dynamic highlights growing jitters about factors far beyond Nvidia's (NVDA) control, and sets the market on a bumpy path for the balance of 2025.Nvidia's October-quarter earnings results \"were extraordinarily good, probably the best quarter they've reported this year,\" Gil Luria, D.A. Davidson's head of technology research, told MarketWatch. And initially, it seemed like those numbers would be a sufficient spark for AI stocks that had seen a comedown in recent weeks.That wasn't to be. Shares of Nvidia and other AI plays opened the next session higher but closed meaningfully lower by the end of the day. For momentum-oriented names like Sandisk Corp. $(SNDK)$, which had run up big on optimism for AI-related storage needs, the declines were especially dramatic.\"If really strong Nvidia results and a positive tone didn't send the group to new highs ... not much else is going to be a positive catalyst through the end of the year,\" Jamie Zakalik, a senior research analyst at Neuberger Berman, told MarketWatch.What gives?There's a laundry list of issues ailing the AI trade - from big-picture macroeconomic questions affecting the rate-cut outlook, to highly specific comments from key players like OpenAI that have rattled the market. Or as Ken Mahoney, the chief executive of Mahoney Asset Management, put it in emailed comments, markets are now facing a \"perfect storm.\"Thinking on a micro level, the market downturn following Nvidia's earnings could have been driven by a fund or portfolio liquidating, Luria said, and wasn't necessarily a reaction to Nvidia's report itself. By sharing that the company has visibility into $500 billion in Blackwell and Rubin revenue from now through 2026, Nvidia gave \"the longest-term outlook they've given in the last three years,\" according to Luria.That's not to say Nvidia's report was deemed to be flawless. Ipek Ozkardeskaya, a senior analyst at Swiss online bank Swissquote, said investors may be taking issue with \"swelling inventories and unusual patterns in deferred revenue\" at the chip giant.Nvidia \"has been taking in hefty prepayments from customers and then recognizing those payments as revenue ... before chips are delivered,\" Ozkardeskaya noted in emailed comments. \"This is not illegal,\" she added, but it \"could leave a gap if future orders slow.\"The fact that investors are looking closely at these elements is perhaps indicative of how the attitude on Wall Street has shifted from euphoria to vigilance.\"When you dig deep enough, you're sure to find dirt,\" Ozkardeskaya wrote. \"And people only start digging when they begin to feel uncomfortable - and that level of discomfort is rising.\"In the preceding weeks before Nvidia's earnings report, Luria said there was \"a lot of good discussion about what constitutes a bubble\" and what market behaviors are healthy or unhealthy.That said, Bloomberg Intelligence technology analyst Mandeep Singh isn't worried about Nvidia's high inventory levels. In his view, the company is trying to ramp up the capacity of graphics processing units it makes every year, and that means keeping the same allocation from Taiwan Semiconductor Manufacturing Co. Ltd.\"They don't want that allocation to go to AMD $(AMD)$ or even TPUs for that matter,\" Singh said, referring to tensor processing units designed by Google $(GOOGL)$ $(GOOG)$. \"From that perspective, I think Nvidia cares about how many units it can make and I think they are managing a very complex supply chain.\"With more than $330 billion in revenue expected next year, \"that will involve an inventory buildup,\" Singh added.As for concerns that Nvidia reported a high amount of accounts receivables on its earnings call, Neuberger Berman's Zakalik said she isn't concerned because the company's major customers are hyperscalers with large cash flows.Watching the FedWall Street's more discerning earnings reactions also relate to evolving expectations around the Federal Reserve's next interest-rate decision due out in December.\"It seemed like the market was saying it's extremely unlikely\" that there will be a cut, Zakalik said, following delayed September unemployment data released on Thursday that \"was not perfectly clean.\" Because of the government shutdown, the Fed won't be receiving October and November data until after the rate-cut decision.Fed uncertainty has been \"the largest single sentiment driver in the past few weeks,\" according to emailed comments from Mark Malek, the chief investment officer at Siebert Financial.\"Does a 25-basis-point cut in December or January really have anything to do with how well Nvidia or Meta is going to perform over the next five years?\" Malek asked. \"Please tell me you answered with a quick 'no!' But, alas, investors have gotten their minds so wrapped up in [Fed] policy that it has distorted many investors' ability to make reasonable, facts-based decisions.\"The interest-rate landscape, however, has implications for high-growth technology companies sensitive to borrowing costs.The OpenAI issueThere are questions about the AI trade beyond Nvidia's control, Zakalik said, including the debt financing by major customers like Oracle Corp. $(ORCL)$ and longer-term worries that there will be an overbuilding of AI infrastructure.Everything increasingly comes back to OpenAI, which has announced big-money deals with cloud and chip players that are in excess of its current revenue.The market is \"sensitive\" to anything related to OpenAI and its ability to pay off and build the commitments it has made over the next few years, Zakalik said.Investors are increasingly worried that OpenAI could be making promises it can't live up to as it tries to raise massive amounts of capital, Luria said. He pointed to neocloud CoreWeave Inc. (CRWV), which is borrowing money to build data centers for OpenAI. But the ChatGPT creator doesn't exactly have the money to pay for them.\"People are having bubble PTSD over that kind of behavior, and that's been an impact on the stocks for the last couple of weeks,\" Luria noted.OpenAI hasn't necessarily reassured investors recently. Sarah Friar, the company's chief financial officer, mused about a \"backstop\" from the government during an appearance at the Wall Street Journal's Tech Live event earlier this month - comments she later walked back on LinkedIn.And while ChatGPT was once the face of chatbots, Alphabet has been gaining ground with its own efforts, both casting doubt on OpenAI's future dominance and underscoring Google's success with its in-house hardware.Singh told MarketWatch that Google's release of Gemini 3 this week could have been among the reasons for the negative market action.The AI model, which Google said outperforms OpenAI's ChatGPT 5.1 and Claude Sonnet 4.5 in areas such as scientific reasoning and agentic tasks, was trained on the company's tensor processing units. In Singh's view, that shows that Google could be getting further with its capital expenditures than other hyperscalers that depend more on Nvidia for chips.While Singh expects Google to continue being an Nvidia customer, the chip maker will likely have to rely more on other large customers such as Microsoft Corp. $(MSFT)$ and Meta Platforms Inc. (META), and also on OpenAI, to get the $330 billion in revenue it is modeling for next year.\"I think now, with the numbers getting as big as they are for Nvidia, that question is looming again in terms of how much is going towards training [and] how much is going towards inferencing, because inferencing spend shows up in the revenue of the hyperscalers, OpenAI and Anthropic,\" Singh said.Inferencing refers to the process of running AI models. Training is a sunk cost, Singh noted, because although it is important to train models to improve them, inferencing is related to the monetization of the AI models.","news_type":1,"symbols_score_info":{"US30Y.BOND":0.86,"US6M.BOND":0.86,"US12M.BOND":0.86,"US2Y.BOND":0.86,"US7Y.BOND":0.86,"US5Y.BOND":0.86,"US3Y.BOND":0.86,"US10Y.BOND":0.86,"NVDA":2}},"isVote":1,"tweetType":1,"viewCount":1383,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}