Analog Devices: Remain Buy-Rated As ADI Moves Along The Upcycle Phase

Group 1 - The ideal investment is characterized by core business operations in sectors expected to grow structurally at rates exceeding GDP growth over the next 5-10 years [1] - Profits should stem from sustainable competitive advantages that lead to attractive unit economics [1] - The investment should be managed by competent, ethical, and long-term thinkers, and should be fairly valued [1]