Long $AMD / $INTC, short $ARM / $QCOM just makes sense

AMD at only 2x the market cap of ARM while net profit is 6x higher and growing faster makes no sense

QCOM will go through hell over the next two years. The company got hit by Apple first and then by memory prices. NVIDIA is also outcompeting them in automotive. Their AI racks are pure desperation

INTC at only a 70% higher market cap than ARM is ridiculous. The CPU business alone should be worth twice as much on a normalized basis. Foundry makes up for the rest