Alpha and Omega Semiconductor's pivot to AI data-center power is gaining traction beneath muted overall revenue. AI-focused power delivery in its advanced computing division grew over 40% year over year and doubled sequentially, and CEO Stephen Chang reports rising demand from hyperscalers and supercomputing operators. High-margin power ICs grew 30% to nearly 40% of product sales. Insider selling and valuation froth may cause volatility, and second-half results need to validate AI growth. x.com 

Semiconductors look relatively cheap against the S&P 500, while their earnings are growing much faster, barring an EPS reset. The selloff looks overdone, though that does not mean it reverses tomorrow. x.com 

Alpha and Omega Semiconductor is a promising business at the wrong price: its rerating on Nvidia AI-power hype rests on a narrative management has already walked down. The stock is up about 128% in a year to $44.45, near its 52-week high, as retail frames it as the cheapest catch-up in the 48V-to-12V power shift, citing alleged Nvidia GB300 DrMOS allocation. Yet the 800V supply chain is hard to win, with its bottleneck in silicon carbide and gallium nitride held by a few incumbents. x.com  x.com  … Show more

Intel may now be too expensive after going from the worst semiconductor play to one of the best in under a year, as an expected return to profitability came with a multiple rerating on top. With earnings still compressed, a three-year forward view fits better, and on that basis a 2028 P/E of 50, cited in a post the author replies to, is too high. x.com  x.com  x.com 

Micron Technology looks expensive on cyclical-earnings rules. Benjamin Graham warned that cyclical companies look cheapest at the peak of the cycle, when earnings are highest, and advised paying no more than 15 times the average earnings of the last three years. Setting forward earnings aside, Micron's average P/E over the last three years is 37.25. x.com