The traditionally cyclical memory chip market may be undergoing a structural change driven by sustained AI demand and long-term supply agreements. This could lead to more stable earnings and justify higher, less cyclical valuation multiples for companies like Micron.
Boeing is advancing its recovery on two fronts: gaining crucial FAA approval to ramp up production of its 737 MAX cash cow and capitalizing on a surge in demand for its defense systems. The company is also making inroads back into the Chinese market after being shut out for years.
A clear split is evident in retail, where affluent consumers continue to spend on premium goods, boosting results for companies like Dick's Sporting Goods. Conversely, lower-income shoppers are pulling back, causing sales declines at value-oriented or discretionary retailers like Bath & Body Works.
While NVIDIA remains the leader, the AI hardware market is not a monopoly. Competitors like Broadcom (via its Google partnership), Marvell, and AMD are gaining share by developing custom silicon and offering alternatives that help hyperscalers reduce costs and supplier dependency.
Keep pulling the thread on Jake Silverman.