Making sense of Sandisk’s long-term financial model
Sandisk’s FY28-FY30 model relies on long-term NAND agreements holding near-80% gross-margin floors despite pricing 26-28% below current ASPs.
Latest
From X
Laughing Water Capital on X
$NN has sought engineer-to-engineer collaboration with its opposition for roughly 18 months, but the opposition has declined to engage in testing.
Laughing Water Capital on X
Neonode says moving toll-system spectrum by a few MHz would cost tens of millions, while camera-based AI already handles half of toll reading.
Laughing Water Capital on X
RFID spectrum policy faces a dispute over why U.S. users need 28 MHz when Europe and Japan use 6 MHz and China uses 5 MHz.
Laughing Water Capital on X
NextNav says industry engineering and valuation professionals consider its spectrum clean, rebutting criticism of the asset’s quality.
Laughing Water Capital on X
NN’s spectrum assets are likely valuable, despite a bearish view based on a selective reading of the company’s prospects.
Rusholme Capital on X
How ironic is it that $DAVE, a multi-billion fintech, relies on tips from its payday borrowers for its revenue. Capitalism at its finest!
Rusholme Capital on X
Q2 2025 portfolio update added Meta and six Canadian names, sold eight holdings, and returned 6.6% versus the S&P 500's 10.6%.
JabroniCoin.USD on X
$CENX is a non-AI bottleneck https://t.co/L0PvNNH4HK
Investor Letters
All letters- Hayden Capital 3rd Quarter 215A $1.1B
- Hayden Capital 4th Quarter EDU $9.1B
- Sequoia Fund 2025 GOOGL $4.2T
- Palm Harbour Capital fourth quarter LNA $428M
- Palm Harbour Capital first quarter of 2023 TKMAF $7.7B
- Royce Investment Partners Year-to-Date Through 6/30/26 AAP $2.6B
- Patient Capital Management 2Q25 BABA $289B
- Patient Capital Management 3Q25 PGEN $2.6B
AMPX 2026-08-28 Amprius: A Better Entry Point After A 50%+ Decline (Rating Upgrade)
Kurt Christensen 
Late August 2026 Random Ramblings
Higher rates could compress equity multiples and raise AI data center lease costs, while UWMC and Cogent raise questions about CEO-driven…
The Verra Sneerer (NASDAQ:VRRM)
Verra Mobility renewed Hertz tolling management for five years. AutoKinex lets rental customers buy tolling, fuel and protection products…
Nvidia Climbing the Wall of Worries
Nvidia guided FY2028 revenue toward $700 billion, roughly 70% growth, while supply constraints and neocloud demand face concerns over…
Domo (Arigato), for this potential multi-bagger options trade
Domo’s $400 million sale to Progress would leave a cash-rich public shell with $900 million of NOLs; January 2028 $5 calls cost 22 cents.
Nvidia’s Long-Term Margin Question
Nvidia faces questions over the durability of its long-term profit margins ahead of earnings.
[scuttleslops] AI Data Center Economics, ADI, INTU, IDXX
AWS AI campuses cost $40–$45 billion per gigawatt, with Trainium 3 expected to lift compute per megawatt and improve infrastructure returns.
Big Tech Off-Balance Sheet Concerns
Big Tech’s $3 trillion AI commitments are disclosed and largely long-dated, with nearly 60% of Amazon’s $650 billion commitments falling…
$ELAL: El Al is a wartime monopoly at 2x EBITDA. Is that a trap? | ASB Partners
El Al trades near 2x EBITDA after wartime near-monopoly profits, with $1.3 billion of net cash and owned aircraft weighed against…
CCC Is in the Middle of the Wreckage
CCC, the dominant auto physical-damage claims estimator, connects 27 of the top 30 insurers with 31,000 repair shops as takeout rumors…
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