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10 Apr'26 Portfolio

A lot of risk-on ideas.

Kioxia Holdings: AI NAND Supercycle, JV Upgrade And A Breakout Chart Sets Up Big Upside

Scope for pricing upside, market share gains, higher value revenues and lower gross margin volatility.

Microsoft: Azure Is Booming, But OpenAI And Copilot Are Quietly Capping The Upside (Archive)

Azure’s AI boom is offset by OpenAI risks, constrained capacity, and weak Copilot monetization.

Barrick Mining: IPO Spinoff Dream Hits Royalty Shocker And Margin Squeeze (Archive)

IPO upside dulled by disputes, hidden royalties, rising costs, and richer valuation.

Celestica: Mr. Market Gives Us A Perfect Opportunity To Load Up (Archive, Full Access)

Celestica offers a chance to ride accelerating AI demand at a sentiment-driven discount.

Ares Capital: I'm Not Bearish Anymore But Still Have Concerns (Archive)

Strong deal flow, AI‑exposed software book, rich relative valuation keep me Neutral/Hold on ARCC.

Credo: Fantastic Growth Drivers Ahead Make This A Buy (Archive)

CRDO levered to AI data centers, expanding beyond its flagship product of active electrical cables with underpriced growth and valuation tailwinds.