저자: DanIves · 외국인
요약 보기
6월 기술주 급락은 과도한 비관이며 AI 인프라 투자는 계속될 것이라는 주장. 하이퍼스케일러는 설비투자를 줄일 수 없고(군비경쟁), AI 하드웨어 1달러당 소프트웨어·클라우드에서 8~10배 승수 효과가 있다고 봄. 이를 근거로 MSFT(PER 21.7배, Azure +40%, AI 매출 연율 370억달러), 팔란티어(매출 +85%, 순달러유지율 150%), 마이크론(HBM 공급 부족, 영업이익률 84.9%, 장기계약 1000억달러), 크라우드스트라이크(FCF 4.68억달러, AIDR 플랫폼)를 저평가된 매수 기회로 제시.
다듬은 글
Dan Ies of Wed Bush magazine writes: “Tech stocks were significantly oversold in June. Ultimately, they represent great buying opportunities as these pessimistic narratives have overshadowed the prospects for massive growth in the future. For every dollar spent on, say, an Nvidia chip, there is a multiplier of 8 to 10 for the rest of the tech companies.
So this is extremely important. In terms of what you're seeing, in terms of what you're talking about some of the individual stock movements, just an extension of what we're seeing in terms of technology, and you can argue about names like Caterpillar and others, but when it comes to hyperscalers, look, it's an arms race.
That's why the question is , can they actually cut capital spending? They can't. In other words, you're diving into the deep end of the pool because if they cut back, they're falling behind others in line who are clearly ahead of them. Open AI, eventually , when they go public, they'll just have more and more cash, and I think that's the reality now.
And the bears will be like, “Oh, this is a waste of money. "It's the opposite." I mean, you're essentially building a new economy for consumers, businesses, and for the first time in 30 years, the US is ahead of China when it comes to technology. Wall Street is in absolute panic mode: the bitter June sell-off in tech assets wiped out hundreds of billions, trapping the Magnificent Seven in the ultimate penalty box.
Bears are screaming that the AI trade is dead, pointing to inflated valuations and a staggering forecast of $5.5 trillion in global capital spending by 2030. They see a bottomless money pit. Elite tech analysts see the biggest buy at the year's low point. Wedbush's Dan Ies aggressively rejects the bare narrative, calling the pullback a complete overreaction in the Twilight Zone.
To silence skeptics , Ives compares today's AI infrastructure construction to the Las Vegas Strip in 1955 . You don't monetize a casino by pouring its concrete foundation. What follows is a huge wave of income. With only 5 % of enterprise cloud customers currently moving towards AI, we are barely in the third inning of the “ generational supercycle.” Most importantly, every dollar spent on core AI hardware triggers a huge multiplier effect of $8 to $10 in the software and cloud ecosystem.
Make no mistake , this is a relentless corporate arms race. Hyperscalers have no choice but to spend money or face immediate obsolescence from competitors. However, smart money knows that you can't blindly buy the entire fee. This brutal market correction unfairly punished absolute monopolies in software and hardware.
Elite companies with impenetrable MOSs trade at huge unjustified discounts. Today, we'll look at four ideal, highly rated stocks that fit the Wedbush scenario perfectly to take advantage of this huge gap. Let's start with the absolute king of enterprise software and the mainstay of cloud infrastructure, Microsoft , which trades under the ticker symbol MSFT.
The recent market correction has seen the tech titan suffer a massive drop in market capitalization of $1.3 trillion from its peak, sending the stock down significantly to trade near key support levels just above $350. This pullback has created an incredible valuation gap, squeezing Microsoft's forward earnings multiple to just 21.7 times, matching the ultra-attractive levels we last saw during the empty market in 2022.
Wall Street is panicking over increased capital spending, with capital spending for fiscal year 2026 set to hit $190 billion due to infrastructure expansion and chip inflation. But if you look beyond the immediate noise, you can see an absolute cash generator. In its recent earnings report, Microsoft reported a rapid 18% increase in revenue to nearly $83 billion, while operating profitability increased by 21% thanks to huge operating leverage.
Azure remains an absolute monster, growing 40% year-over-year. Demand is virtually guaranteed, and commercial performance commitments have doubled to an incredible $627 billion, representing a huge portfolio of secured future business. The impenetrable moat of the Microsoft ecosystem is rapidly expanding.
The annual rate of AI revenue grew 123% to $37 billion, driven by 15 million paid copilot seats from corporate customers. By implementing advanced multi-agent workflows and restructuring monetization tiers to its $ 99 monthly Frontier package , the company is successfully extracting huge, highly profitable recurring value from its...
Fundamental data center investments. This is not a broken business. This is the main monopoly on sales. Moving directly from Microsoft's core cloud environment to the advanced data orchestration layer brings us to our second stock, Palunteer, which trades under the ticker symbol PLTR. While short-term capital flows temporarily shifted to hardware, Palanteer was caught in the industry-wide software sell-off, falling nearly 48% from its highs to a 52- week low of around $17.
Don't confuse a drop in stock price with a decline in performance. This sharp pullback has caused a historic multiple compression, making the valuation incredibly reasonable for a company delivering this level of massive profit growth. Basic fundamentals prove that Palunteer's corporate regime is virtually unbreakable.
The company just posted a first- quarter drop, bringing in $1.63 billion in revenue, a whopping 85% year-over-year increase and the 11th consecutive quarter of accelerating growth. Demand in corporate America is on fire, and commercial revenues in the US are growing rapidly. 133%. More importantly, Palanteer maintains an impressive net dollar retention rate of 150% and a Rule of 40 score of 145, proving that once an enterprise integrates its data, the transition costs are too high to look back.
The secret weapon here is the Palanteer Artificial Intelligence Platform or AIP and its underlying ontology layer. As raw language model tokens become thousands of times cheaper, the enterprise bottleneck is not basic intelligence . These are trust, data integration, and operational control . Palunteer provides the best zero- waste zone that transforms unstructured data into secure real business value.
With an unprecedented $11.8 billion in total deal value already signed and waiting to hit its balance sheet, this low-capital, fixed-income machine is ideally poised to dominate the next phase of the AI supercycle. Moving from the analytical software platforms that process the data to the physical silicon needed to store and power these models brings us to our third giant, Micron Technology, which trades under the ticker MU.
Concerns about historical cyclicality have recently hit the broader memory sector , leaving Micron trading around...$1,152 after a volatile earnings cut. However, this short-term anxiety completely ignores large-scale structural evolution. Micron, far from being a traditional volatile commodity player, has transformed into a high-barrier AI multiple of just 7.7 times non-GAAP earnings for its second fiscal year .
The figures from the latest earnings report for the third fiscal quarter are simply impressive. Micron achieved record revenue of $41.46 billion , up 345.8% from last year, as well as monumental non-GAAP earnings per share of $25.11. This explosive performance is supported by an industry-leading gross margin of 84.9%, driven by a huge global shortage of advanced high-bandwidth memory, or HBM.
To meet this unprecedented demand, Micron is actively scaling its next-generation HBM4 manufacturing architecture , which is already being used for top data processing applications. What really solidifies Micron's long-standing position is a radical shift in its business model. The company received 16 legally binding documents.
Multi-year strategic agreements with customers, covering the period until 2030, locking in 20 % of its DRAM and 33% of its NAND capacity. These taker pay contracts represent approximately $100 billion in minimum contractual performance obligations, backed by $22 billion in upfront capital commitments from customers, including $18 billion in net cash deposits already on the balance sheet.
Backed by a strong balance sheet containing over $30 billion in cash and investments, Micron has the best financial protection to fund the expansion of its domestic production while staying ahead of global competition. Finally, the move from hardware to critical security highlights our fourth stock, Crowd Strike, which trades under the ticker CRWD.
While SAS's competitors suffered from sector rotation, Crowd Strike fell 29% to a 52- week low of around $342 before launching an aggressive recovery. Rather than being disrupted by AI, Crowdstrike has become a fundamental layer of AI’s critical infrastructure , expanding its corporate moat faster than the market can fully accommodate it.
The recent earnings report for the first fiscal quarter highlights the business's release with ...Overall, Crowd Strike delivered masterful results , achieving total revenue of $1.39 billion, up 26% from last year. Operating income grew 62% to $326 million, while generating a record $468 million in free cash flow, resulting in a phenomenal margin of 34%.
Total annual recurring revenue grew to $5.51 billion , driven by an impressive 99% growth in the Falcon Flex subscription model, which now accounts for $1.9 billion in high- margin, predictable revenue. Crowdstrike is a hyperactive player thanks to its category-defining AI Detection and Response (AIDR) platform .
Global spending on AI is projected to reach $2.5 trillion. However, few companies have mature security systems against the use of models as weapons. Crowdstrike dominates this new capability because its proprietary Falcon execution sensor is hard-coded into millions of enterprise endpoints where AI agents are running.
It provides real-time, zero-latency protection for models, clues, and data layers that competitors cannot replicate. Backed by net cash of $3.8 billion. position and a 4-1 stock split to maximize liquidity.
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