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Friday, November 13, 2026

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From X

@aleabitoreddit

Serenity on X

I personally love $AXTI here, even after I watched my position round trip $13 -> $140 -> $45. $100m->$500m in near term backlog driven by ordinary near term orders Annualized P/E compressed down to 18.8x Q4, before 2027 capacity expansion and price hikes. Now with confirmed counterparty visibility with $LITE and $COHR (before it was speculation). Of course China risk is always a wildcard, especially with the $NVDA scandals + China hawks in Washington. But fundamentally, it’s been in its best shape ever and I’m proud watching AXT grow up
@aleabitoreddit

Serenity on X

Following the $MRVL and $LITE acquisition announcement… Samsung Electronics has been doing vertical integration of their own in photonics to thermal: - New report from Bloomberg states that Samsung Electronics is in talks to buy $MOD Modine. Which supplies thermal/cooling infrastructure for AI data centers. - 2 days ago from Digitimes, Samsung has purchased series of silicon photonics patents from Rockley Photonics (that previously was bankrupt). Covering modulators and PICs, mainly around design and integration. This follows earlier leaks that “Samsung is reportedly considering acquisitions in the silicon photonics space” After Samsung’s reportedly pursues optical engine and PIC manufacturing by 2027, and CPO services by 2029. We’ll likely see this trend accelerate with M&A vertical integration across AI supply chains. Especially considering valuations from smaller upstream companies collapsed recently, despite their strategic significance.

Investor Letters

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Qure Anniversary Update

UniQure’s Huntington’s disease BLA has a May 1, 2027 priority-review date, with an FDA advisory committee expected in late first quarter.

QURE $1.7B
Triple S Special Situations Investing 2 clicks

Big Short: Fidelity & Guaranty

F&G’s main insurer held $66.5 billion of assets against $1.38 billion of statutory capital, while private credit, reinsurance dependence…

FG $3.1B
Mispriced Assets 4 clicks

Peloton: Beyond The Bike

Peloton’s connected-fitness subscribers fell 9% year over year to 2.475 million, with another high-single-digit holiday decline forecast as…

PTON $2.5B
TSOH Investment Research 3 clicks

Quick note on LSAK and GRPN

Lesaka expects its Bank Zero acquisition to close by end-January 2027, though it could still close this calendar year.

GRPN $513M
Mispriced Assets 5 clicks
MG · long

Mistras Group INC

Mistras Group is a rare publicly traded US non-destructive testing pure play, providing quality assurance for materials, components and…

MG $643M
Value Investors Club 4 clicks

Research Roundup Vol. LII

Dell’s AI-server demand and Microchip’s data-center components lead updates on Cirrus Logic and STMicroelectronics, alongside a weekly…

CRUS $6.1B
Monte Independent Investment Research 1 click

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