Marc Gerstein @MHGerstein

TTM Technologies makes products, mainly printed circuit boards (PCBs) and radio frequency gizmos, that seem as mundane as anything out there. But don’t sleep on this stuff... TTMI is an important behind-the-scenes player in a critical role - helping information flow through important devices and systems upon which modern tech depends. The company’s end markets - data-centers, digital medicine, industrialization, autos, and electronic warfare - are a "Who's Who" of exciting areas. And TTMI’s growth reflects that. But the stock, which had been rising along with revenues and profits, parted company of late and has been falling, apparently because TTMI is spending to enhance its capabilities. If you’re into modern alchemy, spinning thin air to create productive assets, TTMI isn’t for you. But if you understand the importance of building a modern asset base, you can pounce on unjustifiably punished TTM stock.

TTM Technologies: A Rare Opportunity To Exploit Investors' Fears; Buy seekingalpha.com/article/494277…

As it did last quarter, HEICO again handily beat estimates. But this time, instead of rallying, the stock just yawned. Organic growth remained excellent, and as one analyst said on the earnings call, the company was still "printing money." Core fundamentals that reveal longer-term trends, likewise, remain excellent. But there’s a lingering question — How sustainable is the recent super-growth? Management doesn’t give guidance. Nor was it able to pin down anything beyond saying “every one of our verticals” and “every one of the markets." That’s fine, but with a forward P/E in the 50s and a forward PEG at 3.40, other investors and I need more detail. I respect HEI’s results, but I’m keeping my rating at "Hold”.

HEICO: A Fundamentals Superstar But Also An Informational Enigma; Staying At 'Hold' seekingalpha.com/article/494115…

Uranium is an adventurous commodity, sometimes beloved as a great way to power things without fossil fuels and other times reviled as a dreadful danger. Today, with a lot of U.S. (and dare I also say bipartisan) support, nuclear power and uranium are in we-love-it stages. I think this will have very long legs. Uranium Energy Corp. is a small (by revenue) uranium miner with massive courage. If uranium is priced too low, UEC won’t sell and will even tolerate long zero-revenue periods. Also, many today hate and/or fear companies that spend a lot to build businesses. “Nuts to that,” UEC implicitly says. Its to-do list features a lot of building and spending. There will be lots more outstanding shares in the future. It’ll take that to develop a lot more profit. This is a spend-money-to-make-money story stock. If you can handle the risk, Buy. If not, that’s okay. To each their own.

Uranium Energy Ranks High Among The Bravest Companies I Ever Covered seekingalpha.com/article/493952…

I won't value Quantinuum based on ratios based on early-stage preliminary matters that don’t reflect future ongoing business. Instead, I say “Buy,” based on the quantum story. This, the newest public quantum computing firm, had its IPO on 6/3/26. It had its post-IPO surge and a big correction. Now it’s time to get to serious business. Quantinuum uses trapped ions. Its closest peer is IonQ. Both stress accuracy rather than speed. The main for-geeks difference is in the way qubits communicate with one another. QNT is especially aggressive relative to peers in discussing its full-stack approach, including cloud and development tools. It reminds one of Nvidia's use of CUDA. I’ve long thought quantum computing’s raw power made it and computation-heavy AI natural bedfellows. Quantinuum is jumping on that in a deal it recently inked with Oracle.

Quantinuum: Trapped-Ion Quantum Computing Looks To Break Out Of The Quantum Silo seekingalpha.com/article/493812…

My case for Lithium Americas is inspired by the 1983 Tom Cruise film Risky Business, the need to sometimes say "what-the-heck" (last word edited for decorum). Actually, the basis for what-the-heck investing is similar to a classic Warren Buffett concept, knowing that a company’s future success is inevitable. That’s so for lithium. It wasn’t always a big deal, even as batteries started to become popular. But lately, thanks to EVs and so many other things, demand is mushrooming. LAC has no production or revenues now. It's building a mega-mine in Northern Nevada. It will take a lot of time and capital. But it's happening. There are no numbers now, but as we learn from Risky Business, sometimes you just have to say, "What the-heck" and "Buy,” especially when future good news is inevitable.

Lithium Americas: A Pseudo-Cinematic 'What-The-Heck' Buy Case For The Stock seekingalpha.com/article/493645…

Butterfly Network (BFLY) traces back to a not-so-modest aspiration of one co-founder, to change the world, and a fortunate introduction by his professor to a visionary tech entrepreneur. BFLY is doing that through its pioneering ultrasound on a chip. A scanner sends images to an iPhone or similar device. That makes ultrasound doable pretty much anywhere. That’s a huge deal. Cumbersome logistics cause many to refrain from being scanned as regularly as they should, often to bad and sometimes tragic results. That alone is a big deal. Better still are programs (Butterfly Embedded and Butterfly Garden) to license IP and hopefully, build an ecosystem like what Nvidia (NVDA) did with CUDA. Like many emerging businesses, BFLY’s corporate youth is leading to losses. But prudent financial management and, I believe, capital raising ability if needed, support a “Buy” rating.

Butterfly Network's Co-Founder Wanted To Change The World, And He Is seekingalpha.com/article/493547…

Consider the kinds of endeavors that capture our interest. My theory: They often relate to things we can see, understand and admire in day to day life. This is probably why more children aspire to be actors than, say, accountants, and why investors gravitate more to AI or fancy tech, than say, materials science. But…. Aspen Aerogels is an example of why we should look beyond chicness. It has a simple and recently depressed business selling high performance protective barriers. They’re vital for EV batteries, to prevent heat from spreading and leading to explosions. They’re also useful for LNG transmission. EVs demand is starting to recover. That’s good. Better still…. Materials keep evolving and new uses surface. ASPN is preparing to adapt its wares to data centers, grid overhaul, and lots more. That makes the stock a speculative “Buy.”.

Aspen Aerogels Reminds Us Materials Science Can Be Cool, Especially If EVs Are Hot seekingalpha.com/article/493402…

One who appreciates business/market history might recall IBM as a hot MBA destination but also as a lackluster lumbering overly bureaucratic giant — like many other big caps. Starting in the 1980s and continuing beyond, these business sloths slimmed down and reinvented themselves, thus turning the S&P 500 into the super index we revere today. IBM was among that crowd. But being in a complex tech business, it took IBM longer to reinvent itself. But by now, IBM has become a modern powerhouse. Serving a mainly enterprise clientele via its data-moving prowess, IBM lacks the cool image enjoyed by smaller, newer, hipper AI firms. But don’t underestimate the power IBM can wield. The stock got hammered recently because IBM reported a trivial negative earnings surprise. The issue is transitory, and makes for a nice buying opportunity for IBM stock.

IBM: New And Agile Is Nice, But Don't Underestimate Classic Size And Power seekingalpha.com/article/493083…

Super Micro Computer issued terrific June Quarter revenue guidance and the stock reacted quite well. But I’m unimpressed. SMCI has a too-long list of serious legal and ethical concerns, including some still-open issues. And on top of that, there are also business concerns. The latest 6/30/25 10K uses 7 pages to discuss accounting/controls issues. (Ouch!) And export-related criminal cases against now-discharged SMCI people are just starting. Also…. Competition, already intense, is heating up as more firms gain AI proficiency and as low-cost Original Design Manufacturers improve. SMCI’s reputational risk isn’t likely to help its situation. I know SMCI’s valuation ratios look compelling and that SMCI has many fans. But I'm willing to ignore such things when I see compelling reasons. I do here. I'm still at “Strong Sell” for SMCI.

Super Micro Computer: Great Guidance Doesn't Offset Concerns - Still At Strong Sell seekingalpha.com/article/492594…

Pity Mr. Market. He supposedly wants to buy low and sell high. But he often recoils from and spews hate at stocks that can be bought low — like Oracle. Supposedly, ORCL is doing wrong by spending heavily to build data centers and, horror of horrors, borrowing and selling new equity to do this. In other words... ORCL is acting (gasp) normal. The whole world can’t be “asset lite” services. And building physical assets often means big spending and (double gasp) temporarily negative FCF. Big AI spenders will eventually need to earn returns on their investments. Not all will succeed. But AI, real, productive, AI is about data. Not all big spenders are. But... Data is and always has been ORCL’s forte, especially mission-critical enterprise data. Given its prowess here, I see ORCL as one of the eventual AI winners and its stock as a contrarian value  'Buy.'

Mr. Market Hates Oracle For Doing The Right Thing, Creating A Buying Opportunity seekingalpha.com/article/492517…