BBH Select Series – Mid Cap Fund 2025 Q3 (ANET UN)
Pitch Summary: Arista returned 42.4% during the quarter, ending as our fifth-largest position with a weight of 4.9%. Arista is the leading provider of data center switches to cloud network and AI customers. Arista is executing extremely well and reported strong second quarter results, with revenue, margins, earnings per share (EPS), and qualitative commentary, all […]
NCG Small Cap Growth Strategy 2025 Q3 (BE)
Pitch Summary: Bloom Energy contributed positively to returns as investors recognized the company’s potential in AI and data center-related energy infrastructure. Its modular fuel cell systems address rising demand for efficient, resilient power solutions. BSD Analysis: Bloom’s differentiated fuel cell technology provides scalable energy efficiency advantages versus traditional backup generators, making it integral to AI […]
NCG Large Cap Growth Strategy 2025 Q3 (NVDA)
Pitch Summary: NVIDIA was among the top contributors to performance in the NCG Large Cap Growth strategy. The company continues to benefit from rapid adoption of AI workloads, data center expansion, and demand for high-performance computing chips. Its ability to innovate across GPU and software stacks reinforces its leadership in accelerated computing. BSD Analysis: NVIDIA […]
Mondrian Global Equity Fund (DELL)
Pitch Summary: Dell is identified as a beneficiary of surging AI-related infrastructure demand, particularly in high-performance servers and GPU-dense architectures. The firm has gained share in selected enterprise segments due to its supply-chain capabilities and strong relationships with hyperscalers. Recent earnings surprised positively, with AI-server backlog building meaningfully. Mondrian views Dell as an attractively valued […]
The Bristol Gate U.S. Equity Strategy (AVGO)
Pitch Summary: Broadcom reported its third-quarter results on September 4, which exceeded analyst expectations for both revenue and EPS. The highlight of the quarter was the addition of a fourth significant customer for its custom AI accelerator (XPU) products, placing over $10 billion in orders to be shipped in Q3 2026. Continued growth from existing […]
Diamond Hill Mid Cap (CIEN)
Pitch Summary: Strong demand for networking systems company Ciena’s hyperscaler offerings has helped drive strong earnings growth. Hyperscaler demand is being fueled by AI-related projects, which management believes should translate to durable demand ahead. BSD Analysis: Ciena remains the backbone of high-capacity optical networking, with demand accelerating as cloud providers and telecom operators upgrade networks […]
Polen Capital – Emerging Markets Growth (ACCT)
Pitch Summary: Accton, a key enabler of AI infrastructure, delivered record revenues as global demand for high-performance networking surged. The company’s AI accelerator modules and switches have become critical to modern data center architecture, and its evolving market model favors more direct relationships with hyperscaler customers. Revenues and profits more than doubled year-to-date, reflecting exceptional […]
Sands Capital Technology Innovators Fund (NVDA)
Pitch Summary: NVIDIA continues to dominate the AI infrastructure buildout, delivering another strong quarter with datacenter revenue growth accelerating from 64% to 73% year-over-year, with guidance implying 84% growth next quarter. Ex-China sales have offset near-zero China contribution, with strong uptake expected for the upcoming “Vera Rubin” superchip, which will significantly expand compute performance and […]
Alpha Wealth Funds – The Insiders Fund (MRVL)
Pitch Summary: Marvell (MRVL) is a leveraged play on the AI and data-center supercycle without NVIDIA-level valuation risk. Custom silicon demand from hyperscalers (Amazon, Microsoft) and its expanding optical and Ethernet footprint offer asymmetric upside. Gross margins are improving as legacy storage fades. Insider buying and a $5 B buyback underscore confidence. Short-term noise from […]
Artisan Global Discovery (PSTG)
Pitch Summary: Pure Storage is redefining enterprise data storage by sourcing raw NAND flash memory and building custom all-flash systems, which enhances cost efficiency. The company is gaining share in core enterprise markets, and its collaboration with SK hynix for hyperscale data center environments supports its efforts to expand its addressable market. During the quarter, […]
Columbia Global Technology Growth Fund (NVDA US)
Pitch Summary: NVIDIA remains the linchpin of AI compute with a defensible moat spanning silicon, software (CUDA), and networking. Data-center revenue momentum and expanding customer breadth support elevated growth and cash generation. As-sold backlog and ecosystem lock-in reduce near-term downside, though capex normalization is a medium-term risk; continued platform innovation (Blackwell/GB200) is the catalyst. BSD […]
Columbia Global Technology Growth Fund (ALAB US)
Pitch Summary: Astera sits in a sweet spot of the AI stack, alleviating data-center connectivity bottlenecks as hyperscaler deployments accelerate. Surging Scorpio adoption signals strong product-market fit and supports rapid operating leverage. With AI infrastructure still early, revenue visibility is rising; execution and competitive moat in PCIe/CXL connectivity are the swing factors. BSD Analysis: Astera […]
BBH Select Series – Mid Cap Fund (ANET UN)
Pitch Summary: Arista returned 42.4% during the quarter, ending as our fifth-largest position with a weight of 4.9%. Arista is the leading provider of data center switches to cloud network and AI customers. Arista is executing extremely well and reported strong second quarter results, with revenue, margins, earnings per share (EPS), and qualitative commentary, all […]
Tall Oak Capital Advisors 2025 Q3 (ASML NA)
Pitch Summary: ASML Holding NV remains the global leader in extreme ultraviolet (EUV) lithography ‚Äî a technology that uses focused beams of light to print the intricate patterns that form the circuitry of modern chips. These systems are essential to producing leading-edge semiconductors used in AI and high-performance computing. Third quarter results exceeded expectations, with […]
Recurve Capital 2025 Q3 (CCOI)
Pitch Summary: Cogent‚Äôs management has usually gotten the better of Wall Street when consensus doesn‚Äôt align with their worldview of the Internet ecosystem. One notable period was the first decade of the 2000s. At a time when competitors were going bankrupt or deleveraging following the collapse of the Dot Com bubble, nearly every analyst under-appreciated […]
Signs Of 2001 Bubble Crash Repeat Warns Economist | Peter Berezin
- Gold: Structural bull market supported by central bank buying, unsustainable fiscal policy, and rising retail interest, though the guest warns it will eventually end badly.
- AI: Earnings may be inflated by temporary excess demand for compute; a potential “metaverse moment” could flip sentiment and trigger a sharp unwind.
- Hyperscalers: Massive capex needs and uncertain monetization raise downside risk; combined revenues of leaders may not justify $1T+ annual capex without a true AI takeoff.
- Key Companies: Caution around NVDA, MSFT, META, and AMZN as AI/cloud demand, chip write-offs, and circular financing dynamics could pressure future earnings.
- Semiconductors: GPU supply growth and rising competition may compress pricing and margins, challenging the sustainability of current valuations.
- US Treasuries: Deficit dynamics create the risk of a bond market “revolt,” though medium-term inflation expectations remain anchored for now.
- Defensive Tilt: Favours Health Care and looks to Emerging Markets for value and fundamentals, while remaining tactically neutral but preparing to turn more defensive on rising layoffs.
Seagate Technology Holdings (STX)
Pitch Summary: HAMR leader set to ride AI data boom: 30TB shipping now, 40TB in ’26 drives step-function GM/FCF; duopoly structure, tight supply, LT agreements; stock at ~12x ’26 EPS despite multi-year margin expansion + cash returns. BSD Analysis: Seagate derives 80%+ rev from high-cap nearline HDDs for hyperscalers/enterprise. HAMR re-accelerates areal density, lowers $/TB […]
Broadcom – An AI Powerhouse With 20%+ Growth and a 44% FCF MarginBroadcom Inc. – AVGO
Pitch Summary: Broadcom is well-positioned to capitalize on the AI revolution, driven by its dominance in networking chips essential for AI data centers and its strategic expansion into custom AI accelerators. The company benefits from strong demand from hyperscalers and a robust software business, making it a unique and strategically essential player in the tech […]
Equinix Inc (EQIX)
Pitch Summary: Overvalued (trading at 86% premium to its peers); AFFO manipulated by at least 22% in 2023; accounting manipulations; CapEx accounting manipulation; operating margins are driven by financial engineering; BSD Analysis: Equinix is the largest global operator of data centers, benefiting from cloud migration and interconnection demand. The bear case emphasizes high valuation, capital […]
Arista Networks Inc.
Pitch Summary: Arista Networks has experienced a significant rally due to the increased investment in AI infrastructure by hyperscalers, driving demand for its high-speed networking switches. The company’s close partnership with Broadcom and its robust earnings performance further bolster its growth prospects. BSD Analysis: Arista Networks is well-positioned to benefit from the surge in AI-related […]
