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— All Writing · Archive

All thinking,in one archive.

From market recaps to company breakdowns, from reading notes to macro observations — every careful thought lives here. Come back anytime; pick an entry that interests you.

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weekly

cadence

Home/Writing

— All Writing · Archive

All thinking,
in one archive.

From market recaps to company breakdowns, from reading notes to macro observations — every careful thought lives here. Come back anytime; pick an entry that interests you.

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219

published

6

categories

weekly

cadence

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Invest · Wisely

Independent investing essays. Focused on analysis and the long term. A slowly polished archive of thinking — to help you read the market, and grow rich slowly.

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Recent Posts

Companies07.01
Micron's 84% Gross Margin and 7x Stock: Cheap or Cycle Peak?
Micron just reported a quarter whose numbers are almost too wild to be real: quarterly revenue $41.4B, up 346% YoY; consolidated gross margin 84.6%; EPS $24.67 – all records. The stock has 7x’d in a year, market cap above $1 trillion. As the only pure-play memory leader listed in the U.S., it has become the clearest proxy for the AI storage trade.
Companies06.29
Nvidia at 22x: The Cheapest Megacap or a Cycle Peak in Disguise?
Revenue still +85%, gross margin 75%, quarterly FCF $48.6B — but it remains a cyclical stock
Companies06.25
Micron's Record Quarter: Net Profit Up 14x, 16 Long-Term Contracts Lock In Structural Shift
FQ3-26 revenue of $41.46B and non-GAAP EPS of $25.11 blew past guidance and consensus. Sixteen take-or-pay contracts turned 'storage as a structural asset' from narrative into booked cash flow. After-hours stock rose 13%, nearing all-time highs, while the rest of the AI complex quietly pulled back.

© 2026 Minto. All rights reserved.

RSS Sitemap Privacy Terms DisclaimerContent here is for reference only and is not investment advice.

Language editions

This archive lists every available English edition. Chinese-only originals remain available separately.

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219 articles

Micron's 84% Gross Margin and 7x Stock: Cheap or Cycle Peak?

Micron's 84% Gross Margin and 7x Stock: Cheap or Cycle Peak?

PINNED · Featured

What this covers

Micron just reported a quarter whose numbers are almost too wild to be real: quarterly revenue $41.4B, up 346% YoY; consolidated gross margin 84.6%; EPS $24.67 – all records. The stock has 7x’d in a year, market cap above $1 trillion. As the only pure-play memory leader listed in the U.S., it has become the clearest proxy for the AI storage trade.

Companies2026.07.01

Micron's 84% Gross Margin and 7x Stock: Cheap or Cycle Peak?

Micron just reported a quarter whose numbers are almost too wild to be real: quarterly revenue $41.4B, up 346% YoY; consolidated gross margin 84.6%; EPS $24.67 – all records. The stock has 7x’d in a year, market cap above $1 trillion. As the only pure-play memory leader listed in the U.S., it has become the clearest proxy for the AI storage trade.

Read · 6 minRead→

Nvidia at 22x: The Cheapest Megacap or a Cycle Peak in Disguise?

Nvidia at 22x: The Cheapest Megacap or a Cycle Peak in Disguise?

Micron's Record Quarter: Net Profit Up 14x, 16 Long-Term Contracts Lock In Structural Shift

Micron's Record Quarter: Net Profit Up 14x, 16 Long-Term Contracts Lock In Structural Shift

Double Hit: Not a Crash, But Profit-Taking as Earnings Remain Intact

Double Hit: Not a Crash, But Profit-Taking as Earnings Remain Intact

Palantir: Revenue +85%, Stock –26% — What's Left at 30x Sales?

Palantir: Revenue +85%, Stock –26% — What's Left at 30x Sales?

Warsh's FOMC Debut, KOSPI Breaks 9000, Hang Seng Falls Below 24,000

Warsh's FOMC Debut, KOSPI Breaks 9000, Hang Seng Falls Below 24,000

Cloud Acceleration and AI Capex Race: Four Tech Giants, One Night, $700B+

Cloud Acceleration and AI Capex Race: Four Tech Giants, One Night, $700B+

A $600K Bonus Next Door: Inside Samsung's AI-Fueled Labor War

A $600K Bonus Next Door: Inside Samsung's AI-Fueled Labor War

Industries3 min

SK Hynix Q1 Profit Surges 4x: A New Order for Memory in the AI Era

SK Hynix Q1 Profit Surges 4x: A New Order for Memory in the AI Era

Companies10 min

When the Fed Stops Being the Only Show in Town

When the Fed Stops Being the Only Show in Town

Wall Street Shrugs Off Oil Shock as Earnings Season Takes Center Stage

Wall Street Shrugs Off Oil Shock as Earnings Season Takes Center Stage

Physical AI: The Biggest Market, the Deepest Trap

Physical AI: The Biggest Market, the Deepest Trap

Industries8 min

SanDisk: The Unstoppable NAND Pure Play That Keeps Beating Targets

SanDisk: The Unstoppable NAND Pure Play That Keeps Beating Targets

Pharma's Power Law: Why You Should Bet on the Basket, Not the Home Run

Pharma's Power Law: Why You Should Bet on the Basket, Not the Home Run

Industries7 min

Circle of Competence: If You Don't Understand It, Don't Touch It

Circle of Competence: If You Don't Understand It, Don't Touch It

Companies10 min

Optical Communication: The Invisible Blood Vessel in AI Data Centers

Optical Communication: The Invisible Blood Vessel in AI Data Centers

Industries7 min

Three Rulers from Security Analysis: Why a 1934 Book Still Works in 2026

Three Rulers from Security Analysis: Why a 1934 Book Still Works in 2026

Reading Notes9 min

The Space Economy: As Launch Costs Plunge, the Real Business Begins

The Space Economy: As Launch Costs Plunge, the Real Business Begins

Industries7 min

Rereading 'The Most Important Thing': Cycles, Emotions, and Second-Level Thinking

Rereading 'The Most Important Thing': Cycles, Emotions, and Second-Level Thinking

Reading Notes1 min

Palantir's Ontology: Is It the Real Moat in the AI Operating System?

Palantir's Ontology: Is It the Real Moat in the AI Operating System?

Industries8 min

The Three Layers of Moat: From Product to Network to Culture

The Three Layers of Moat: From Product to Network to Culture

Let There Be Light: The Super-Seller Markets in Fiber and Memory

Let There Be Light: The Super-Seller Markets in Fiber and Memory

Industries4 min

Valuation: Good Company, Good Price – Two Different Questions

Valuation: Good Company, Good Price – Two Different Questions

The AI Application Layer: Big Money, No Clear Winners Yet

The AI Application Layer: Big Money, No Clear Winners Yet

Industries8 min

The Neocloud: Airbnb for AI Compute, or a House of Cards Built on Leverage?

The Neocloud: Airbnb for AI Compute, or a House of Cards Built on Leverage?

Industries7 min

Writing · Minto