Company Analysis
CXMT’s IPO Changes the DRAM Map—But Not the AI Memory Hierarchy Yet
CXMT’s listing gives China’s largest DRAM maker far more capital to expand. Its near-term impact, however, will be felt more in China’s…
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Company Analysis
Independent analysis of earnings power, operating drivers, competitive position, financial quality, capital allocation, implied expectations, and risks.
Company Analysis
SpaceX’s Lead Is Real. Its Space Economy Is Still Incomplete.
SpaceX dominates launch and Starlink now earns material profit, but launch remains R&D-intensive. Its long-term lead depends on converting scale into recurring…
Company Analysis
Samsung Electronics: How Durable Is the Earnings Surge?
Samsung Electronics has moved from an earnings recovery into a period of record profitability, driven overwhelmingly by memory. The more important question…
Company Analysis
SK Hynix’s 2Q26 Earnings: Record Margins, but the Memory Supply Gap Has Not Closed
SK hynix’s second-quarter results reflect more than another strong quarter for high-bandwidth memory. Pricing power has expanded into server DRAM and enterprise…