Results for: TEM
Tempus has real products and customers. The question is whether their value can overcome weak cash conversion, the cost of Personalis, and the expectations already in the stock.
NVIDIA has set another record high. AI demand remains strong, but the price now assumes that Rubin, high margins, and customer funding will hold together. This report tests whether the breakout is…
AI can accelerate research, calculation, and counterargument testing. It cannot own the choice of what to believe, how much to risk, or when to admit the thesis is wrong.
Uber–Delivery Hero and AADX–CBI show why investors must separate purchased growth and EPS accretion from per-share cash returns and post-deal ROIC.
AI agents are beginning to find products and run advertising campaigns. Viant’s Outcomes is an early attempt to turn that shift into a real product, but the investment case still needs to…
dLocal is scaling payment volume rapidly while profit grows much more slowly. The investment case depends on whether scale and operating efficiency can overcome weaker unit economics.
Azure and the ChatGPT ecosystem are producing real revenue, but Microsoft is also committing unprecedented capital to data centers and leases. The valuation depends on how quickly that capacity becomes durable free…
I bought LDTC and later sold the entire position at a loss of approximately 50%. This note records why I took the loss, what I failed to see, and what I learned…
Applied Aerospace & Defense sits in attractive defense and space markets, but headline growth and backlog include a meaningful acquisition contribution. The valuation depends on whether that scale becomes organic growth and…
Uber is already producing more than $10B of trailing free cash flow. The valuation hinges on whether autonomous vehicles strengthen its demand network or remove the intermediary—and whether Delivery Hero earns its…
Amazon is posting faster AWS growth and higher operating margins while AI infrastructure spending depresses free cash flow. The valuation depends on how quickly that spending turns into durable cash generation.
Bond markets are demanding a higher price for capital while the AI buildout is running into physical constraints.