5/29/24 - $asmc - sidelines, too much risk in this tape into EPS

5/29/24 - vrockstar - $asmc - just added to my energy watchlist b/c the growth here L12 months q by q has been pretty impressive. stock has reacted to a lot of this, however, obviously. so $500-$600 mm valuation on $150 of sales is 3.5-4x sales (b/c profitability still scaling), which a. for this cap and b. those non software margins is quite frankly too much to take a position. add to this last time this year the seasonal quarter was a big revenue miss. i'm not close enough to know how much seasonality should be incorporated here, the bogey doesn't look *easy* per se (or difficult either based on recent trends). i'd prefer to keep this on my radar and get a greedier entry, however my bias here is more long than short in the MT/LT. hard enough to own larger caps with similar 20% growth trajectories and profitable - which is where the first bid will come in (generally) and in a risk off environment, these are the caps that get dropped fastest b/c liquidity, valuation/ rates etc.