7/21/24 - $cdns - Staying on the sidelines into print

7/21/24 :: VROCKSTAR :: CDNS
Staying on the sidelines into print

- almost 50x PE for growing 20% this year and next. that's just too expensive for my taste.
- fcf yield (round up about 2%) growing 20% is reasonable and no dilution issue - but certainly not cheap
- suffering on it's nasdaq pair (as are all semis)
- I think the semi factor is what keeps me most concerned. good prints are getting dumped. what happens if there's a mediocre print nevermind a miss (not my base case).
- technically broke support on the 200d not good if we can't hold above it. even a beat probably retests these recent lows at some pt later in the year.
- just don't see the r/r for punting here.

have a good week my fam. i'll comment on as much as i can as EPS boots off but will be in nashville for the btc event. back at my seat next week.

V