Seems like a Big Battle now Between Macro and the AI Narrative
Seems like a big battle now between macro (10Y, Oil, PCE etc) and the AI narrative which is only trending in one direction:
1. $NVIDIA(NVDA)$: Forecasted 2028 revenue growth at +70% vs Street estimates of 44%.
2. $NVIDIA(NVDA)$ forecasts $1.3T in hyperscaler CapEx spend for 2027.
3. $SHKY CEO: "We expect the shortage (on storage) to persist until the end of 2030."
4. $SanDisk Corp.(SNDK)$: "We see structurally massive demand for NAND until 2030."
5. $Marvell Technology(MRVL)$ giving $Alphabet(GOOGL)$ options to buy $12.2B of the company.
6. $SpaceX(SPCX)$ forecasts of $1T in revenue by 2030 (timeline more than likely off but directionally probably correct).
7. GS Humanoid Report increased their TAM forecast by 5x in 2035 ($140B).
Whether we stay flat here for a few weeks, or even pullback slightly... I think having a longer term bearish bias is not going to work out well.
The numbers and the projected length of this cycle continue to amaze me.
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