AI stocks are cross-sectionally inefficient

“Baker goes on to conclude that if the multiples on stocks like Coherent and Lumemtum are correct, then memory and Nvidia stocks should go a lot higher.”

“Intel CEO Lip-Bu Tan said Thursday that he’s “disappointed” the company was “not able to meet strong demand” in the third quarter as he cited “near-term challenges” that included supply…”

“The industry continues to navigate one of the most significant supply shortages in the [sic] history, driven by the unprecedented demand for super intelligence,”

“Nova Lake, our first Intel 18A-P client product, is tracking ahead of schedule, with design wins expecting to be twice those of Panther Lake at launch.”