Stock price when the opinion was issued
Impacted not only by tariff rhetoric, but also because it's a very cyclical business. 12-month price target of $118.50, but with a lot of volatility in between. If you're underwater right now, write some calls; if it starts to approach the strike price, and you don't want to get called away, just roll the strike price up.
Hyper-cyclical earnings. Storage and memory chips, which are like a commodity and so you have big swings. Consensus is for earnings to grow over 400% this year, not because of innovation but because of the demand cycle. Go back 10 years and this name has generated a total compound return of 10%, which is less than the S&P. Beta is 1.9.
He thinks they are ideally positioned for the movement to cloud based storage. Estimates are that global cloud storage has increased by 90% over the past 18 months. They put up a good earnings surprise and are doing well.