Who's Coming For The Market In Q3?

Bullish:

• $MU - Micron remains fundamentally strong with reasonable 7.5x forward P/E ratio despite volatility. Analysts systematically underestimate earnings due to incentive structures, creating ongoing opportunities as the company beats expectations. DRAM shortage driven by AI server demand continues.

  • “the people who are the analysts for Micron stock, for Sandus stock, for Samsung, for SK Hynix, even though they're projecting whatever double digit percentage compound annual or compound quarterly over quarter, quarter over quarter growth in these companies' earnings, because of the incentive structure, they're just going to miss and miss and miss, and Micron and SanDisk are just gonna keep smashing analyst expectations precisely because the analyst community is disincentivized from making the bold call even when it's correct.”

    Jonah·14:46

  • “Micron is trading at 7.5 times forward earnings right now. This is not bubble territory, so the price action is important to watch. I'm not saying technicals don't matter here or that flows don't matter. I'm just saying we're not at the point where fundamentals don't matter. Fundamentals matter a lot.”

    Jonah·18:00

  • “I think this is a good time to YOLO into a little bit of Micron here for a trade on this pullback.”

    Jonah·18:58

  • “the finished product is the server, Like, it's really the server rack that's driving this. Computing has not gone to the edge yet. We're not looking at like humanoid robot prices here. You really wanna look at like what a fully kitted out, standard NVIDIA GB 200 server rack is priced at roughly 7 and a half million dollars on the high end. That's up from like $3,000,000 a couple years ago, and it's probably gonna go higher. There's no there's no shortage of demand for those things, To me, I just think Micron's gonna keep squeezing, and you should use these pullbacks as an attempt to buy in”

    Jonah·19:58
• $INTC - Intel positioned to benefit from AI-driven memory demand, though speakers recommend reducing position size due to increased volatility. Still viewed as part of the memory trade benefiting from AI infrastructure buildout.

  • “with Intel Intel gyrating like crazy, Micron blow off top. You hit 1,200, you're back down at about 1,000. You're seeing memory start to compress because the forward expectations have been baked into the price. And so it's like the question is, I had a substantial portion of my net worth in Intel both because of allocation, but also because it grew so much.”

    Avi·6:42

  • “if I can buy Intel at $80 again, I will just buy it and literally not think about it for a year. That would be that would be great. Like, I would love to be able to do that.”

    Avi·39:58
• $BIOTECH - Biotech sector identified as downstream AI beneficiary, with specific mention of strong recent performance (up 15-20% in two weeks). Viewed as area where AI impact creates value beyond the hyperscalers and memory stocks.

  • “And you're seeing you're seeing our thesis play out a little bit when you look at biotech. Biotech's done very well since we first talked about it. I think Archie is up 15 maybe 20% since I mentioned it on the podcast.”

    Avi·7:23

  • “Two weeks ago, we talked about biotech. Biotech's up, I think, 20% across the board on a lot of these names, some even more. The the the the b the LLN is up, like, billing to one is up a ton, I think, on another 20%. And I I I'm actually still very bullish on these names.”

    Avi·7:40
• $RDDT - Reddit benefits from AI data licensing as its content is consistently pulled by ChatGPT and Claude for queries. Stock up 10% to $191 from $160 entry point discussed previously.

  • “Reddit is a great Reddit's up 10% today. It's trading at one ninety one. We talked about this at one one sixty. And that's been Reddit, I mean, Reddit has all the data. Like, you go you go to Claude, you go to OpenAI, you ask or you go to Chateapati, you ask, hey, like, what what's happening? Like, what restaurant should I go to? I I use ChatGPT to talk about TV shows. It always pulls from Reddit. Like, they go like, talking about fan theories about House of Dragon with ChatGPT. It's fun. And it's like always pulling from Reddit. Right? And that, like, Reddit is licensing out its data to these things. And and that's obviously gonna be very, very good for us.”

    Avi·8:57
• $HOOD - Robinhood positioned to benefit from crypto resurgence, prediction markets, options trading growth, and Trump account lock-in effects. Up 20% while Bitcoin down 20% over past month, demonstrating strong relative performance.

  • “Want to check up on a trade that I talked about two weeks let's say, I think it's a month ago at this point, when I talked about the hood, like hood BTC. That trade has done very well, actually.”

    Avi·32:40

  • “Let's look at from June 1 to today. So over the last month, hoods up 20%. It's gonna continue to rip. And Bitcoin is Bitcoin is wow. Oh, Bitcoin's really down since then. I didn't even realize. Like, Bitcoin's down Bitcoin's down 20 while HUD is up 20%. So you would have made some great money following that trade. I mean, I'm still kind I'm not short Bitcoin, but I'm still in the long hood trade.”

    Avi·33:17

  • “the reasoning is if you think crypto is coming back in a meaningful way, if you're bullish on crypto, HUD is going to benefit massively, but they also benefit massively from prediction markets, and they also benefit massively from options trading. They also are growing their revenue streams outside of crypto substantially every week, every month, every quarter, quarter over quarter. And they had lock they have now they now have lock in from the Trump accounts. And not only that, it looks like in a in a in, like, in, twist, Micron is actually contributing $250,000,000 to these Trump accounts. And so Trump is getting American companies to contribute to to to to contribute to these these Trump accounts. Right? And that's a big boon for Robinhood.”

    Avi·33:49

  • “I'm I'm sitting here thinking, hey. Robinhood's gonna do ridiculously well over the next over the next few months, over the next year. I mean, we could probably see all time highs. And that is my pure play expression for for the market. Right? Like, that that's my for for the crypt for the crypto market specifically.”

    Avi·34:42
• $ZEC - Zcash presented as solution to Bitcoin's problems including traceability, concentration risk from Saylor, and quantum computing vulnerabilities. Performing well relative to BTC as alternative non-sovereign digital currency.

  • “that's why Zcash has been doing so well is because it presents a solution for all the problems that people are very annoyed with Bitcoin about, which is now it's fully traceable by the system. It is owned effective like, the the the the future of Bitcoin is owned by one man in many ways, and it does have this quantum issue that that's coming up. And Zcash obviously doesn't have these things, and that's why I think people are that that's why Zcash is doing well relative to BTC.”

    Avi·26:03

Bearish:

• $BTC - Bitcoin faces headwinds from strengthening dollar, co-option by Wall Street banks, concentration risk from Saylor/MicroStrategy, and quantum computing vulnerabilities. Likely to underperform real AI-driven growth sectors over next 2-3 years.

  • “you know what it's really bad for? Bitcoin. And Yeah. This is actually why I am I went on Pump's podcast.”

    Avi·24:13

  • “I I haven't been super constructive on Bitcoin as a long term hold. It's like a true long term hold for a while. Like, obviously, I'm constructive on trading on a trading basis and but we've talked about this on the pod. I mean, we've disagreed openly on this is is that I'm just less convinced, especially with the prominence of Sailor in the asset, with the fact that it's co opted by Wall Street banks now and owned, that it doesn't exist outside the system in the same way that it did before. And that when you have a market where there are real things happening, it's less important to apply your money into Bitcoin because you want to be invested where real growth is occurring.”

    Avi·24:48

  • “over the next two to three years, what would I rather put on my portfolio and hold and just close my eyes on? And it's the biotech ETF. It's Nasdaq. It's over the last five years, Nasdaq has done better than BTC.”

    Avi·30:33

  • “right now, crypto is not necessarily the right place to park all of your capital.”

    Avi·26:51