Super Micro is set to benefit from significant tailwinds in the AI space due to its close partnership with Nvidia and increased demand for AI servers. Recent restrictions on Inspur, the world's third-largest server maker, may create further opportunities for Super Micro in the global server hardware market, potentially leading to a 5% increase in its revenue. Moreover, Elon Musk's venture into AI with his company X.AI, which plans to pursue large-scale generative AI research, could add $200-400 million in additional revenue to the AI hardware and server industry. This, combined with Super Micro's focus on AI and "ODM+" space, positions the company as a potential leader in the AI server manufacturing space. In addition to its focus on AI, Super Micro has diversified into general data center infrastructure work, reducing its dependence on AI.

SoFi Technologies reported strong Q1 earnings, with net revenue increasing 43% YoY and 3.4% sequentially to $472 million. SoFi's deposit growth and rising interest rates drove strong net interest income, which increased 113% YoY to $201 million. SoFi's lending segment, the firm's largest source of revenue, grew 33% YoY and 2.7% sequentially to $337 million, entirely due to net interest income. SoFi recently obtained a national banking charter, allowing the company to retain deposits into its SoFi Money accounts and use them to support its lending operations, driving net interest income growth. SoFi finances its lending arms entirely through external financing, which gives it the opportunity to drive net interest income growth. SoFi's deposit base and loan book have grown rapidly since receiving its charter, with total deposits reaching over $7 billion at the end of December 2022. SoFi generates the majority of its revenue through its lending business, which operates on an originate-to-distribute model where the loans that SoFi makes are either transferred through securitization or sold for a gain. SoFi intends to rapidly expand the scale and scope of its financial service offerings in order to become a one-stop shop for its clients' financial needs. The fair value estimate for SoFi is $14 per share. However, bears say that SoFi's revenue growth comes at the cost of rapid growth in the company's expenses, and SoFi remains unprofitable. SoFi assigns a High Uncertainty Rating due to the nature of the company’s revenue streams, its reliance on capital markets, and the untested nature of its business model.

The article discusses Nano Dimension, a 3D printing company that specializes in 3D printing electronics, including circuit boards. The company has expanded into the general 3D printing industry through acquisitions. Despite negative earnings, the company's top-line is still growing 40% year-over-year as of Q1, and they should be able to generate $58.4 million in revenue for the full year. Nano Dimension's market cap is currently $607.69 million, which is significantly below its tangible book value of $1.18 billion. The downside risk is mostly only -6.25% down, protected by buybacks and tangible book value. The upside potential is significant, with a potential rise of 33.33% from $2.25 to $3 or over 100% if the value is unlocked and the stock trades closer to its tangible book value of $4.80. The biggest risk is unfavorable mergers and acquisitions or dramatic increases in costs and OpEx, but neither seems to be the case. Overall, Nano Dimension represents an attractive, asymmetric risk/reward proposition with strong downside protection and significant upside potential.

The author believes that the recent selloff of Etsy's stock is an overreaction to slowing revenue growth and shrinking margins. They argue that the management has a strong track record of success and innovation, and the recent increase in R&D investment is temporary and not secular. Etsy has delivered a 35% revenue CAGR over the past decade and has a solid FCF margin. The company's SG&A to revenue ratio has steadily declined, indicating positive effects from economies of scale. The author uses a discounted cash flow approach to evaluate Etsy stock and calculates a fair value of about $18 billion, significantly higher than the current market cap, with a potential upside of approximately 60%. Risks to consider include competition from giants like Amazon, regulatory and taxation risks, and the possibility of failing to deliver expected growth or profitability. Overall, the author assigns Etsy a "Strong Buy" rating, as the upside potential outweighs the risks, and the current stock price offers an appealing investment opportunity.

Delta Air Lines is an attractive long-term investment opportunity with strong expected earnings growth. Long-term air travel projections show that passenger demand for air travel is expected to approximately double over the next 20 years, providing a positive catalyst for Delta's growth. Consumer demand for travel is higher than pre-pandemic levels, with strong advanced summer bookings and revenue growth projections of 15% to 20% and EPS estimates of $5 to $6 per share for the full year. Delta's forward PE of 7 and PEG ratio of 0.21 are below the sector median, making it an attractive valuation. Delta's high expected growth rate is being driven by increased consumer demand for spending on experiences which can be achieved through air travel. Delta's low valuation along with the company's strong expected growth for multiple years should allow the stock to outperform over the next several years. The long-term positive outlook for air travel demand is likely to act as a tailwind for Delta's growth, with the stock's valuation remaining attractive and future growth expectations high. Risks for the stock include potential economic slowdown or recession and a spike in fuel prices, but Delta's refinery ownership mitigates the fuel risk to a certain degree. Analysts have a one-year price target of about $50 for the stock, which would result in a gain of about 27% from the current price.

The author is bullish on indie Semiconductor, Inc. and believes in its potential in the Autotech industry. The company has large tier 1 suppliers and global OEMs as customers and is gaining design win traction in ADAS, user experience, and electrification. indie uses a technology agnostic approach that supports several sensor modalities and is not reliant on vehicles becoming fully autonomous. The company had a solid 1Q23 quarter and is expected to reach profitability in the second half of 2023. indie is currently trading at 26x 2024F P/E, with expected rapid EPS growth through 2025 and the potential for positive EPS in 2024. The author's 1-year price target for indie is $17.74, implying an upside of 77% from current levels.

The Container Store Group, Inc. (“TCS”) is a turn-around story with new management and low-to-no-expectations from the market, mainly due to uncertainty/change in the macro environment and competition. Focusing on strategic new smaller stores, leaning into customizable-home-spaces, upgraded e-commerce experience and mixing it all with large loyal customer base, TCS has potential to generate 100%+ returns… but (of course) there are risks!

The author is bullish on RH as an investment opportunity due to its history of strong performance and industry-defying profit margins. RH's strategy of gallery conversion and construction of new galleries is seen as a great opportunity for further growth. The author argues that RH's sustaining profitability is due to the power of its brand and local economies of scale. Ecommerce poses a potential threat, but brick & mortar furniture retail has demonstrated a higher amount of staying power. RH is the dominant player in the luxury segment of the furniture retail market, with unique product lines and high pricing power. RH's enduring competitive advantage is evidenced by its abnormally high ROIC and operating margin. The author projects a modest gallery growth rate and revenue per gallery growth rate, accounting for anticipated hits to discretionary spending and housing starts. RH may face challenges in the consumer discretionary and housing market, but its luxury furniture target demographic will recover demand quickly. RH has a large debt burden, which may serve as a potential obstacle in raising additional capital further down the line. The author believes that RH can maintain its competitive position and maintains a steady Buy rating with a price target of $367.42.

The article discusses Global Blue, a company that provides backend services for tax refunds for tourism shopping. The company has a strong competitive position with a 70% market share and profitable pre-Covid earnings with a 40% EBITDA margin. Global Blue has potential for increased earnings due to luxury price inflation, cost cuts, and other structural drivers. The main risks are the speed of recovery of Chinese shoppers and the risk of a PE take-under. Global Blue is a highly strategic asset for potential acquirers and has an upside scenario for common shareholders of 2-3x. The stock currently trades at 11x pre-Covid EBITDA, and the latest data in April shows encouraging signs of Chinese shopper recovery in Europe and Asia. Global Blue is the dominant player in the VAT refund business, with a strong team and organization in place. The company has the potential for significant growth if purchase volume returns to pre-Covid levels, with a potential 30-40% increase in topline and even higher profits. Global Blue's relationships with luxury houses and customer purchase data make it an attractive acquisition target for payments providers and financial conglomerates. The article also discusses the terminal risks to the business of private refund providers like Global Blue, including government competition, interference, and countries pulling out of VAT refunds. The author discloses that they are long shares of GB.