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Monday, November 2, 2026

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BMRN Earnings Review

BioMarin’s Q3 revenue rose 32% to $1.02 billion after the Amicus acquisition, while lower 2026 guidance and $2.8 billion of net debt weighed on earnings.

BMRN $11B
Cestrian Capital Research 1 click

From X

@aleabitoreddit

Serenity on X

All of $AEHR customers saying "In fact, that’s kind of everybody right now. Ship as quickly as you can." doesn't quite sound like any potential order cancellations lol. Genuine earnings beat, lot of orders faster than revenue recognition, and overall demand acceleration. Then there's upside: -"We believe this customer represents one of the largest potential burn-in system opportunities Aehr has ever pursued" From a "major supplier of AI accelerators, CPUs, and network processors", which sounds more like $AMD given historical context. - $AEHR saw acceleration from multiple silicon-photonics customers. - Guidance was stated to be conservative, since $AEHR was not supply-constrained and could fulfill more orders for FY2027. So likely potential for more earnings beats again. Downside was NAND related memory segments were delayed. I understand valuation compression from macro, but markets are selling things off like their fundamentals deteriorated, which is clearly not the case for $AEHR.
@aleabitoreddit

Serenity on X

People on X (now YC companies included) learned that it’s easier to doompost for impressions. $SPCX + Elon wouldn’t be heavily building in the Neocloud space if they didn’t see the ROI. Samsung wouldn’t be selling 5-10Y LTAs to Chinese big tech, if Alibaba/Tencent/Bytedance saw memory overflooding in 2 years. $LITE wouldn’t be sold out into 2029 and announce new $5B UHP laser contracts if optical demand didn’t persist. It’s interesting seeing the very same people long $SNDK, $NBIS, to $COHR 2 months ago. Flip flop on every market narrative from the initial Iran War to the current “AI Bubble”. I’d argue 180x fwd P/E cybersecurity and biotech stocks are more of a bubble than 3 P/E memory companies with hyperscaler LTAs.

Investor Letters

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Microsoft: The $250 Billion Club

Microsoft’s widening gap between M365 Commercial revenue growth and seat growth eases concerns over Copilot monetization across its 400…

MSFT $4T
TSOH Investment Research 2 clicks
KHTRF · long

Knight Therapeutics INC

Knight Therapeutics (GUD-T) is a long position built on confidence in founder Jonathan Goodman, following his earlier success with Paladin…

KHTRF $790M
Value Investors Club 2 clicks

The Strategic Value of eDreams

EDreams’ Prime travel subscription model makes the €3.6 billion European OTA a potential Uber, Airbnb or Amazon acquisition target.

EDDRF $548M
310 Value’s Newsletter 2 clicks

Notes and Updates

ECIP recipient banks could repurchase Treasury preferred shares at steep discounts, potentially lifting book value, while Hawaiian Electric…

HE $1.5B
Exploring with Alluvial Capital

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