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Sunday, November 15, 2026

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Intel Custom ASICs?

Intel’s custom ASIC business more than doubled last quarter as it pursues hyperscaler demand, AI accelerators and a stronger Intel Foundry.

INTC $317BQCOM $185B
Chipstrat 5 clicks

From X

@majgeoinvesting

Maj Soueidan on X

Not if you’re one of the over 200 new 52 week lows in the NASDAQ on Friday vs. ~20 new highs. You’ll see a similar trend in many corners of the microcap world. For example, of the 153 stocks in the @MSmicrocaps quality index, there were no new highs on Friday and 7 lows. And… the index is very diversified and not overly reliant on AI stocks. Although, it’s still up 17% for the year. At @GeoInvesting, the ratio was 4 to 15 across 204 stocks on certain screens we track. The biggest point I’m trying to make is that momentum investing is a nice strategy, even during pockets of market pullbacks. Stocks that are able to hit a high in a broad market demolition in the areas I track pique my curiosity. It’s basically a way to filter out all the crap, catalyst stocks that haven’t panned out or companies that just don’t deserve to be trading at premium multiples. Obviously, you can find some nice pullback gems. Interestingly, lots of OTC microcaps we track have been relatively unscathed. Another point in favor of illiquid microcaps, like $MUEL $BURCA . The DOW & S&P have held up (no microcaps there). Right now, you’re going to be rewarded well for finding quality companies in any pocket of the market. That’s for sure. Or betting that yet another Jensen affair will be uncovered within the next seven days. Long Jensen Huang, short $NVDA.
@StableBread

Fajasy on X

Six stocks I’m still following filed Q3 numbers: → $QXO: Operating cash flow was only ~$1M in Q3, down from $213M a year ago. → Boost Run $BRUN: Says it has secured $600M of non-dilutive project financing, but a Georgia delay leaves year-end ARR near my bear case. → Reviva $RVPH: Valued at 26.5% of its cash, but needs $50-55M for its second Phase 3 trial and FDA filing. → DigiPowerX $DGXX: ~$30M short of its ~$350M 2027 capex plan, even counting the $200M loan it hasn’t closed yet. → Agility Robotics $AGLT: Down 36.1% from its first-day close, with a little over two years of cash. → FORT Robotics’ SPAC $NTWO: 82% redeemed, and its price implies 36.7x FORT’s TTM revenue. So did the quarter change my call on any of the six? That’s what I answer in my new Q3 update, including whether I’m buying, selling, or holding each name.
@StableBread

Fajasy on X

The cash flow statement adds share-based compensation back to operating cash flow, since it's a non-cash expense: the company paid its employees in shares, not cash. Over the 12 months through October 2022, Intuit $INTU had $3.81 billion of free cash flow, a 3.5% yield on its $109 billion market value. Move its $1.45 billion of share-based compensation to financing activities, and the yield falls to 2.2%. That's roughly $2.20 of free cash flow per year for every $100 of Intuit stock, not $3.50.

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Q3 Earnings Updates

Q3 updates cover Crocs, Entravision and Fiserv beats, coal and oil weakness, and Xerox’s sharp decline, testing the underlying cases for…

CROX $7.5BEVC $874M
Hidden Rock Capital's Newsletter 3 clicks

The Spy Who Shagged The Market

Nvidia’s leadership scandal puts its AI-market role under scrutiny, with comparisons to AIG’s pre-GFC liquidity influence.

AIG $43B
WHAT ARE WE DOING? “Contrarians At The Gate” 4 clicks

Is Nebius Fucked?

Nebius’ Q3 beat relied on $325 million of one-off partnership fees as it raised 2027 CapEx to $40–45 billion and may need $6–11 billion of…

NBIS $32B
Daniel Romero 6 clicks
EFXT · long

Enerflex LTD

Enerflex, a $3 billion natural gas infrastructure and equipment company, blends contracted energy-services cash flows with equipment…

EFXT $2.5B
Value Investors Club 4 clicks

Portillo’s: Strategic Reset

Portillo’s reset follows weak Texas unit economics, cutting next year’s openings to five from roughly 10 annually and shrinking store…

PTLO $486M
TSOH Investment Research

Core Memory

Airbnb Experiences faces a supply bottleneck from manual approvals, while a farm host raised her price from $15 to $25 after stronger…

ABNB $111B
MBI Deep Dives 10 clicks

AppLovin: Deep Dive Analysis

AppLovin’s Axon AI matches advertisers with profitable users while MAX auctions app inventory, as investors question whether its…

APP $136B
Hated Moats 1 click

Trip.com (TCOM US)

Trip.com dominates China’s online travel market with over 50% share and has grown international platform traffic from 1 million monthly…

TCOM $27B
Asian Century Stocks

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