Butterfly Network looks overpriced for its Midjourney deal, because the licensing structure caps how much of that vision reaches Butterfly. Midjourney pays $15M upfront plus $10M a year for its ultrasound-on-chip, but chip sales are one-time per scanner and the revenue share ties to hardware, not scans. Even 50,000 scanners might lift revenue only 10–70%, back-loaded. At about 14x trailing sales, with EBITDA losses expected and insiders selling, the vision is option value, not a base case. x.com 

Butterfly Network's opportunity from Midjourney's full-body ultrasound plan looks dubious, because ultrasound cannot replace CT as promoted. Midjourney plans water-pool scanning spas in San Francisco from 2027 for body composition only, with no medical diagnosis, costly water treatment that limits throughput and significant capex to recoup. Butterfly could still benefit if VC-funded AI firms keep spending irrationally, but that looks difficult at its current valuation. x.com 

Butterfly Network's silicon-based ultrasound could turn specialist imaging into a home device that improves as scans and outcomes train its AI. That iPhone-like shift depends on crossing the harmonics gate; Apple reached $5T thanks to the iPhone, while Butterfly trades at $2B and could similarly change how we see inside our bodies. x.com  x.com 

Intuitive Surgical is worth 30 times earnings at most, below where it trades. Judged purely on its financials, without knowing what the company does, even 30 times would be too high. x.com 

Boston Scientific looks reasonably priced for the risk after a 45% drawdown. It is a cardiology medtech leader with high-single-digit organic growth, a strong margin profile and a proven eye for tuck-in M&A, now at a mid-to-high-teens P/E, a discount to the market where it historically traded at a premium. The selloff happened for a reason, and the case fails only if the Penumbra deal and current revenue scale mean its growth is over. x.com  x.com 

Butterfly Network is the picks-and-shovels play on the Midjourney Scanner, since every scanner runs on 40 of its Ultrasound-on-Chip modules. Midjourney brings the software and brand while Butterfly supplies the imaging physics under a license worth up to $74 million over five years. Midjourney targets 50,000 scanners and a billion scans a month by 2031, future versions use more modules each, and Butterfly gets paid on every unit. x.com 

Boston Scientific's extreme pessimism is already priced in after weaker-than-expected results destroyed the stock, leaving it at 11x 2027 earnings and creating a potential opportunity. The company makes medical devices, mainly for cardiology. x.com 

Boston Scientific is not expensive at about 11x EBITDA for a non-cyclical business growing 5%+ organically. Its guidance looks conservative but not the kitchen-sink reset investors wanted, so the stock is probably dead money for now rather than headed lower. x.com  x.com  x.com  x.com