GrowthInvestingMastery

Here is my latest update on Astera Labs $ALAB earnings! youtube.com/watch?v=9I205y6n… I thought this was a great earnings report from Astera Labs, delivering both with financials and a vastly expanding product line up. They had guided for 560M of revenue in Q3, landing at 585M that was growth of +154% yoy and growth of +49% qoq. Guidance for next quarter was a good size step up as well, guiding to 750M at the top end that would be growth of +177% yoy and +28% qoq. On the profitability side adj operating margin came in at 44.7% up from 39.1% in the prior quarter, showing as they scale they gain more leverage. The announcements of different products this quarter was at a pace never seen before from the company. Their Aries product family expanded to be the first to market in PCIe 7 technology. They added a number of new products to Aries as well, like transimpedance amplifiers. The company’s Leo product had a number of different product varieties announced and it was also talked about Leo being integrated with Scorpio X. Then the company has their newest Orion product family. These are reference architectures sold to Neoclouds and Enterprise AI companies. They spoke of a “fully loaded” Orion having over $100k worth of Astera content sold in it. I was surprised to see the stock sell off the report, but ALAB seems to have been caught up in the broader semiconductor sell off. I noted one ironic mainstream financial headline about the earnings report in the video: “Astera Labs Tops Q3 Estimates, Issues Strong Guidance, Shares Slide”.

MACOM Technology $MTSI is a stock that has risen in confidence since I started a position about a month and half ago. They are a photonics semiconductor supplier that uses specialized silicon processes. The company has expertise in compound semiconductors working with gallium and indium phosphide. Their newest products are designed for next generation architectures like near packaged optics. Additionally, the company has extensive product offerings in free space optics FSO, or photonics which communicate in space. Top end markets for the business are industrial, aerospace & defense, data center and telecom. The CEO Stephen Daly and CFO John Kober have both been at the role for 7+ years after a 2019 restructuring. The company owns three US fabs and one international fab, with locations in Massachusetts, North Carolina, Michigan and France. MACOM is expanding production capacity in the Massachusetts and North Carolina fabs. Their fabs have the “Trusted Foundry” status from the US Department of Defense, allowing for fast tracked sales in that end market. The company has strong customer diversification with over 20 customers having greater than 10M revenue. Additionally, the top 10 customers make up less than 40% of revenue. The strong revenue numbers and exceptional guidance the company gave has impressed me. The current quarter was 342M revenue growing +36% yoy, and +18% qoq. However next quarter the company is guiding for 415 - 425M of revenue which is growing by +61% yoy and +23% qoq at the midpoint. It is worth mentioning the company has never posted a revenue growth number above 50% yoy, which is why I see the guidance as an inflection point for the business. Financials over the last year show the type of acceleration I am looking for, Revenue: 252M → 261 → 272 → 289 → 342 → (425M projected) Corresponding yoy revenue growth rates: 32% → 30% → 25% → 23% → 36% → (63% projected at top end) EBITDA: 54M → 57 → 59 → 67 → 96 Net income: 37M → 45 → 49 → 46 → 101 Gross margin: 55.3% → 54.5% → 55.9% → 56.9% → 58.3% Additionally standout financials include adjusted operating income at a record 108M growing +34% qoq and +70% yoy. Adjusted net income in the quarter grew +30% qoq. Regarding pricing and margins, the management has mentioned they can pass most material price increases onto the customer. The data center market makes up 29% of sales currently, but grew 40% qoq. With their defense customer base they said it is “large and very broad”. The company is also working in the low earth orbit LEO satellite space. Their products are building next generation satellite optical communications. Management has also talked about how they are a strategic supplier to hyperscalers. They’ve talked about a “game changer” opportunity in drones and anti-drone tech. More recently they are working on 3.2T optical tech, and RF over Fiber RFoF which is radio frequency signals over optical fiber. Management has projected strong data center growth for fiscal 2027 as their upcoming earnings is for fiscal Q4 2026. They said they are in a “very strong position” for the next fiscal year. However, analysts have forecast little revenue growth. They expect MACOM to report 420M of revenue coming up, but then see the following quarters going to 431M → 441 → 453 → 467. Based on the management commentary I would expect the revenue numbers to land much higher than these estimates. The stock price is well down from an ATH in June of $418 per share. The current share price is around $250 with a market cap of 19B. The market has historically given this name a high valuation and I never really understood why. However, I view the prospects for MACOM being the strongest they have ever been. The company reports earnings on November 5th in the pre-market. I’m interested to see if the growth is continuing to accelerate like the management indicated on the last earnings report.

New growth stock portfolio update is live! youtu.be/ucnG2ZJSnq8 My top 7 stocks stocks this month are, 1) Ethos Technologies $LIFE 2) Astera Labs $ALAB 3) Silicon Motion $SIMO 4) Figure Technology $FIGR 5) MACOM Technology $MTSI 6) DigitalOcean $DOCN 7) Onto Innovation $ONTO

My new video is out on Silicon Motion's Q3 2026 earnings report! $SIMO youtu.be/5zGsnheZAkM

VIAVI Solutions $VIAV is a newer company in my portfolio that I have added to recently. The company makes optical testing products. VIAV is the “cousin” to Lumentum as both companies are spin-offs from JDS Uniphase in 2015. Lumentum is a customer of Viavi for testing their Optical Circuit Switch OCS product. Viavi says they have “all” of the optical transceivers companies as customers. It is also likely that Coherent and Google may be customers for their optical switches, but this is unconfirmed as a full customer list is not disclosed. Revenue and profitability metrics have shown nice growth, Revenue over the last year: 291M → 299 → 369 → 407 → 443 Corresponding to yoy revenue growth rates: +15% → +26% → +36% → +43% → +53% EBITDA over last year: 35M → 43 → 61 → 80 → 93 Net income over the last year: 8M → -21 → -48 → 6 → 33 Gross margin in the current quarter was 61%, with a gross margin range of 58% to 62% over the last year. On the balance sheet the company has 650M of cash, and 699M of debt. Currently the market cap of Viavi Solutions is 11.6B making the run-rate P/S 6.5 for the stock. I view the valuation as quite reasonable as Lumentum has a run-rate P/S of 24.2, albeit with LITE having higher top line growth. The company is guiding next quarter revenue for 450 - 460M, which would be +54% yoy growth at the top end. It is worth knowing that the next quarter for Viavi going calendar Q2 to Q3 is their slowest typically. In the past going Q2 to Q3 they had either slightly sequentially down revenue or a small uptick. The company makes infrastructure tools that are used in high speed communication networks. Products are used for building, validating, troubleshooting, and monitoring networks. Management has mentioned the strong demand for lab and field instruments in data centers. Viavi has been telling investors about how testing intensity is increasing. This is because transceivers 400G and below, did not require as extensive testing. However, as the complexity of transceivers has increased, these transceivers now require extensive testing. Top highlights from the company’s latest earnings call and tech conferences, - Operating margin of 24%, which was versus a guidance range of 22.3% - 23.2% - Operating margin grew +280 bps qoq, and +960 bps yoy - Next quarter operating margin now guided to 27.1% - EPS of 0.34 vs guidance of 0.29 - 0.31, increase of 0.07 sequentially - Data center ecosystem customer demand “remains very strong” - “Expect continued robust growth” in data center for next several quarters - Customer adoption 1.6T transceivers is ramping testing demand, 800G is currently the biggest driver - CPO revenues expected to begin this fall, with some recognized in current quarter - 500M+ quarter will “come a bit sooner than were were originally thinking” - “Cousins” with Lumentum, market share testing for OCS is “extremely high” - The industry move to CPO sees VIAVI content per port going up - More is being packed into a module, one things goes wrong and it’s a throw away module Overall I am finding Viavi Solutions to be a compelling growth stock with a reasonable valuation. The company has many of the top players in optical as customers which are ramping up their testing. Data center related revenues are the fastest growing segment for the business. Any feedback on the stock VIAV is welcome!

My monthly portfolio review of growth stocks is live! 🚀 youtu.be/C8HKM_gFqT4 WPR's Top 7 growth stocks, 1) Astera Labs $ALAB 2) Silicon Motion $SIMO 3) Figure Technology $FIGR 4) Ethos Technologies $LIFE 5) Onto Innovation $ONTO 6) Micron $MU 7) Viavi Solutions $VIAV Viavi Solutions $VIAV is a new addition to my Top 7 stocks this month! They are in the photonics testing space, with a great customer list including their "cousin" Lumentum. Viavi is projecting +54% year over year revenue growth next quarter with 460M of revenue. The market cap is 11.6B currently, and I view the valuation as very reasonable right now.

New growth stock portfolio video is out! 🚀 youtu.be/_ajtied1dlY Top holdings at the end of the month were $ALAB $FIGR $SIMO $LIFE $CRDO $LITE $MU A new stock in my portfolio that I'm excited about is Onto Innovation $ONTO. Their hardware + software based approach to semiconductor inspection is winning in the market place!

My premium YouTube Membership on growth stocks is finally live! 🚀 youtube.com/@GrowthInvesting… Here's what the Membership includes: Weekly portfolio updates to see what I'm holding and why, in-depth earnings coverage to stay on top of company results, new stock ideas as I find them, and dedicated strategy videos to sharpen how you think about growth investing. The first two Membership videos are live now: a mid-month portfolio update and earnings review, plus a strategy video on lessons from poker for growth investors. Membership is $49.99/month. Sign up directly through YouTube for the best price — no added fees. (Apple/iOS adds their own App Store fee on top, so browser signup is the better deal)

Video for my growth stock portfolio review is live! 📉📈🚀 Results: +22% YTD, +536% since 2024 youtu.be/sYnahBsGwXU $SIMO $ALAB $APP $CRDO $PTRN $PTRN $KLIC $IREN $FIGR $MU $LIFE $COHU $EVC $SKHY $BE $HNGE $ACMR $TOYO

New video is out on Silicon Motion's $SIMO over performance on their earnings! 🚀 youtu.be/-PvGbam6Y1Q Headline numbers, - Revenue guided from 393 - 411M, landed at 451M +32% qoq, +127% yoy - GAAP gross margin guided from 48.5 - 49.5%, landed at 50.2% - Operating margin guided from 21 - 22%, landed at 23.1% - Analysts were looking for 2.04 of GAAP EPS, came in at 3.99 with a one time investment gain - Next quarter Q3 is guided for 519 - 541M +20% qoq, +124% yoy - Q3 adj operating margin guided from 27.5 - 28.5%

Just had a great conversation with Drowsy and Bear on the Shooting the Bull Pod! 🚀

Monthly portfolio summary video is released! 🚀🚀 Results: +62% YTD, +745% since 2024 youtube.com/watch?v=LrlfTRn4… $ALAB $CRDO $APP $SIMO $KLIC $MU $PTRN $IREN $RDDT $FIGR $COHU $LIFE $ACMR $HNGE $IMOS $ALGM $TOYO

Here is my take on the Micron $MU earnings from this evening. The headline for me is that “supply is structurally constrained”. The management detailed how both DRAM and NAND supply will remain tight beyond calendar 2027. Later they detailed how they see tightness continuing beyond 2027. They said there is “no line of sight”, as to “when memory supply will be able to catch up with increasing demand”. As Micron is partnering with customers more on their roadmaps, they have now signed 16 SCAs or long term agreements, with most of these deals having 5-year terms. The company is measuring RPO in regards to these SCAs, and that RPO metric is “approximately 100B”. Micron’s expansion efforts are timed well with some new fab capacity coming online in mid-2027 and through 2028. The company is expanding massively with 10B of CapEx guided for next quarter and they projected 40B+ CapEx for the upcoming year, saying they will spend 10B+ per quarter. From my perspective, I like this aggressive expansion plan Micron has laid out as it does not seem like the supply shortage is going away any time soon. Possibly even more impressive are the quarterly numbers and guide. I mentioned on Reddit I was looking for at least 36B of revenue this quarter, and that number landed at 41.5B. That revenue number of 41.5B is +74% quarter over quarter, and +346% year over year. For the next quarter guidance I said I would like to see over 45B guided for, and the company guided for 50B. Stunningly GAAP gross margin came in at 84.6% when they had guided for 81%, and they now project 86% margins next quarter. It seems the company is firing on all cylinders with practically every financial measure hitting a record. The transcript reads incredibly well, and I found this to be an exceptionally strong report. Here were some more details from the transcript, - “Exceptional fiscal Q3” - Data center revenue exceeded 25B, run-rate over 100B - SSD revenue 5B+, more than doubling sequentially - Now signed 16 strategic customer agreements SCAs, fundamentally transform our business model - Smartphones, high end PCs, new consumer devices also driving demand with AI enabled features - “We currently do not have line of sight as to when memory supply will be able to catch up with increasing demand” - Memory process technology is getting more complex with every new node - “Supply is structurally constrained”, “Despite our comprehensive efforts to increase supply” - SCAs accelerate partnerships in technology and innovation, providing customers with supply assurance - Working with automotive on shorter term 3-year contracts, “commitment to the important sector” - Take or pay agreements, binding commitments (later detailed how customers give them unrestricted cash) - SCA has “price bands”, “floor price enables a very robust gross margin for Micron, well above our peak quarterly margins in any past cycle” - 1-gamma DRAM node, G9 NAND node both ramping well and on track to become highest volume nodes in Micron’s history, volume production 2nd half 2027 - Ramp of significant greenfield capacity in the years ahead - On device AI for PCs and smartphones has “pent-up unit replacement demand” - Automotive, ADAS remains a powerful driver of content growth - Humanoid robots carry 10x the amount of memory as average L2+ vehicle - On robotics, “We expect a sustained substantial multi-decade memory demand cycle to begin in the latter part of the decade” - Acquired Tongluo site and production ramping in Taiwan, volume in mid calendar 2027 - Japan and Singapore expanding, Singapore building another center of excellence for advanced packaging - Total revenue 41.5B, +74% qoq, +346% yoy - DRAM revenue 31.1B +343% yoy, 76% of total revenue - NAND revenue 9.9B, +361% yoy, 24% total revenue - Cloud Memory Business Unit CMBU 13.8B revenue, 33% total, +78% qoq - Core Data Center Business Unit CDBU 11.5B, 28% total, +103% qoq - Automotive and Embedded sector 4.6B revenue, +71% qoq, gross margin 79%, up 11 percentage points sequentially - Adj EPS +106% qoq - Record cash balance 30.2B, reduced debt by 4.4B, now 5.7B debt, net cash 24.4B - Guiding next quarter 50B rev, gross margin 86%, EPS $31 - “We hold the cash” in regards to SCAs, indication of a transformed business model at Micron - Fabs that begin volume in mid 2027+ will bring on operating leverage - 2027 overall tight supply, “tightness continuing beyond 2027” - “So supply even in 2028, when supply begins to improve gradually, we see that demand will continue to be on a robust trajectory as well because these AI trends are very long-term trends. AI is still very, very early innings.” The management added “we feel great about the trajectory of the business”. I agree with that take, and thought this was an incredible report from Micron. I had been adding to my position a few times before earnings, and still thinking to add again after this report to have them be a higher confidence position. It is incredible that even at Micron’s already massive scale, they have “no line of sight” when the increasing demand will end.

Just created a Knowledge Base on Reddit for my investing philosophy! 🚀🚀 reddit.com/r/GrowthStockInve…

Portfolio summary is released! +50% YTD +683% since the start of 2024 🚀🚀 youtube.com/watch?v=IVMBRBwQ… $ALAB $CRDO $APP $IREN $SIMO $PTRN $MU $RDDT $KLIC $FIGR $LIFE $COHU

New post about Astera Labs $ALAB at the JP Morgan tech conference 🚀 Full post is over on Reddit those interested check it out and join the conversion, reddit.com/r/GrowthStockInve…

New video on semiconductor stock Kulicke & Soffa $KLIC! They just guided for revenue growth over 100% and the market seems to have hardly noticed yet 🚀 youtube.com/watch?v=dcLToah7…