To The Moon

Tier 1: Most Solid Fundamentals

$Micron Technology(MU)$

Rapid growth (Q2 revenue +62%), cheapest valuation (forward PE around 8x) + HBM sales to sell out by 2026, structurally improving gross margin. Best value for money. Only weakness: Storage is a cyclical stock, vulnerable to cyclical reversals.

$Dell Technologies Inc.(DELL)$

Strongest numbers: FY27 revenue guidance of $167 billion, +50%, P/S ratio less than 3x, already profitable, strong cash flow. Weakness: AI server gross margin is thin; gaining scale doesn't guarantee profit margin.

$Marvell Technology(MRVL)$

Clearest moat: Custom AI chips for Amazon/Microsoft/Meta, over 20 design orders will be mass-produced in 2028-29, Nvidia invested $2 billion, customer cannot be switched. Weakness: Valuation is no longer cheap.

Tier 2: Strong, but with a clear "but"

$CoreWeave, Inc.(CRWV)$

(CoreWeave) The purest AI cloud, with a $99.4 billion order backlog providing the strongest visibility. However, it's extremely capital-intensive, burdened by high interest rates, and relies on borrowing for expansion.

$Lumentum(LITE)$

(Lumentum) A leading optical module manufacturer, with quarterly revenue up 66%, significantly expanded profit margins, and already profitable. However, its stock price has already risen considerably, and its customer base is concentrated.

$COHERENT(COHR)$

(Coherent) Diversified optical modules, with revenue up 21%, invested by Nvidia, and recently included in the S&P 500. More stable than AAOI, but slower than LITE.

Tier 3: Explosive growth but expensive or unprofitable

$NEBIUS(NBIS)$

(Nebius) Revenue up 684%, but with a PE ratio of approximately 364, still unprofitable, and burning through cash the most. It has the highest growth rate, but also the most expensive valuation.

$IREN Ltd(IREN)$

AI Cloud +94%, signed a $3.4 billion contract with Nvidia, but is still in the Bitcoin transition period, with a decline in total revenue this quarter, a net loss of $250 million, and is also affected by cryptocurrency price fluctuations.

Tier 4: Decent Quality but Limited Upside

$IBM(IBM)$

Stable + Quantum Options, but growth rate is only 4-6%, heavy debt.

$Nokia Oyj(NOK)$

(Nokia) — Revaluation is basically complete, mid-single-digit growth, revenue growth in 2025 is only 3.48%.

$Hewlett Packard Enterprise(HPE)$

Follower type, mid-single-digit growth, depends on whether the AI ​​strategy can be implemented, no strong catalyst of its own.

Tier 5: Speculative/Weakest Fundamentals

$Applied Optoelectronics(AAOI)$

Surges the most (+439%) but is also the most dangerous: beta 3.76, still unprofitable, executives sold off large amounts of shares at high prices. Small market capitalization, highly volatile.