Exclusive: Criminal gangs in China have made more than a billion dollars from spamming your smartphone with messages about things like unpaid highway tolls https://t.co/WpSjvmGydh ...

Market Overview & Investment Strategy - The market is showing signs of froth, particularly in speculative stocks that may have overshot their worth [1] - While the S&P 500 is trading at approximately 25 times this year's earnings and 22 times next year's earnings, which is on the higher side but not excessively expensive, the concern lies with speculative stocks lacking profitability [1] - The speaker is adjusting his view on super speculative stocks, advising caution and emphasizing the risk of significant declines from elevated levels [2] Sector-Specific Analysis - Nuclear stocks, crypto derivatives, and quantum computing companies are identified as speculative sectors with many money-losing entities [2] - The data center sector, driven by AI, is experiencing rapid growth, but there are concerns about whether the spending is sustainable and not overly reliant on debt [2][26][27] - The timing chip sector, exemplified by companies like Sai Time, is experiencing significant growth due to its essential role in various applications, including data centers and smartphones [8] Company Performance & Outlook - Micron reported stellar earnings with revenue up 46% year-over-year and gross margin up nearly 900 basis points, driven by AI data center demand [3][4] - Micron's guidance for the current quarter includes revenue growth of 40% to 47% and gross margins between 505% and 525%, with earnings per share expected to be $365 to $385 [4] - Sai Time has experienced substantial growth since its public offering in 2019, with its stock price increasing from $13 to around $300, driven by its diversified applications and innovative timing chip technology [8] Market Trends & Predictions - Technical analysis suggests that gold and Bitcoin could decline for the remainder of the year, based on commercial hedging activity and historical cycles [5][6][7] - The data center buildout is expected to continue, potentially creating two economies: one driven by data centers and another needing more rate cuts [27] - AI is driving significant growth in various sectors, including smartphones, where AI-ready devices are increasing DRAM content [5]

社会观察 - 2000年代中期，在波士顿和纽约之间乘坐Acela列车时，人们普遍在“表演性阅读”，很少有人使用笔记本电脑，没有人使用智能手机[1] - 描述了一个时代变迁，智能手机普及前人们的阅读习惯和工作方式[1]

The spread of smartphones and social media has created a world in which it is very easy to steal attention. Can anything return it to its owners? https://t.co/DkGf0Ztp2PIllustration: Álvaro Bernis https://t.co/IeKvmK0ojS ...