Be Bullish AI Infra Through to FY28
Mix of lower-beta and higher-beta names I'd prioritize today being bullish AI infra through to FY28.
Lower beta:
- $Amazon.com(AMZN)$: $1T in AWS revs forecasted by 2035. Current MC ~$2.8B (e-comm, digital ads, moonshot bets, Anthropic stake etc).
- $NVIDIA(NVDA)$: 70% FY28 revenue growth despite being capacity constrained. Sub 0.3x PEG for FY28.
- $Marvell Technology(MRVL)$: Jensen's "trillion dollar" company.
$Alphabet(GOOGL)$ has option to buy $12.2B of the company which could translate to $120 billion in revs over the next 7 years.
Medium-beta:
- $Coinbase Global, Inc.(COIN)$: $50B is far too cheap if you can grasp where the stablecoin & tokenization market is heading.
- $Bloom Energy Corp(BE)$: Reported 166% revenue growth with growing margins. MS modelled
$Bloom Energy Corp(BE)$ to be ~20% of the entire fix for America's power shortage.
- $Micron Technology(MU)$: Customer's insensitive to memory prices at the moment...LTAs signed to 2030+...massive robotics tailwinds.
Higher beta:
- $Cerebras Systems(CBRS)$: Still pricey but pricey for a reason. I think ~$180-190 puts the r/r massively in the buyers favour here.
- $Applied Optoelectronics(AAOI)$:Even with dilution, even if management forecasts aren't met...I think
$Applied Optoelectronics(AAOI)$ has a base here or 15% lower. Upside imo is 3-5x by 2028.
- $NEBIUS(NBIS)$: Current ARR sits at $3B. I model out to $70B by ~2030-2031 (23x increase).
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