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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
EQPT · long

Equipmentshare.com INC

EquipmentShare.com, EQPT, is presented as a long idea and potential multibagger following its recent IPO, with a setup compared to Carvana.

EQPT $3.9B
Value Investors Club

An Open Letter to the TPL Board

Texas Pacific Land shareholders urge two board additions, data-center expertise, and capital spending beyond mineral royalties toward…

TPL $19B
310 Value’s Newsletter 4 clicks

Software Continued

Microsoft, SAP, Oracle, Adobe and Intuit generate 90.2% of listed IT software net income, with 32.8% EBIT margins.

MSFT $4TADBE $93B
Global Outperformers

Defying the Surveys

PNC CEO Bill Demchak says consumer spending, savings, activity and loan growth contradict record-low University of Michigan consumer…

PNC $92B
Net Interest

Forgive me Father, I have Sabled.

Sable Offshore restarted Santa Ynez oil flows under a Defense Production Act order, targeting 50,000 barrels daily and a path to 60,000…

SOC $349M
Triple S Special Situations Investing 3 clicks

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