Thanks for all your guidance,
Mike
We think it will react to earnings and guidance from other AI-connected companies. It is not immune from the current market and uncertainty. That being said, it is cheaper than most in the sector, and it does have significant non-AI business. But overall, it needs growth in the economy to do well, and that may be in short supply for a period of time (one year? Hard to say). The question of course is whether its $92/share decline since February reflects the situation. We think it likely does. With a strong balance sheet and (still) earnings growth expected, we would be OK owning this through the current cycle.
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