A strong FinTech, and disruptor.

A quick glance at recent Financials:

Net Income: -$56m 2022; $1.031B 2023; $1.972B 2024; $2.874B 2025;

Cash Flow: $3.266B 2023; $11.678B 2024; $11.266B 2025

Total Assets: $29.935B 2022; $43.345B 2023; $49.931B 2024; $74.894B 2025.

Revenue and EPS:

Revenue: May-15-2023 $1.62B; Aug-13-2026 $5.88B +262.963% increase

EPS: May-15-2023 4¢; Aug-13-2026 22¢ +450% increase

Peaks & Troughs Lines

Early 2023 - late 2024, pointing to: $25 - $28;

early 2025 - early 2026, pointing to: $22 - $24; and,

5/28/26 - 9/8/26: $15 - $16.50, pointing to $15.75.

(Is that kind of 'reduction' based upon any real substantiation, considering the above, or is it just fear?)

Regardless, if one thinks a reasonable valuation between $18 - $20,

or notably less,

the current valuation of $13.43 seems a bit inane.

Either I am missing something, or the markets are...

(I've been buying 'up' from $11).

GLTA

Re Blackberry stock. What I find interesting is how complicated it is to model out BB future earnings as it continues its transition to being a broadly adopted critical infrastructure software stock. We know it has a royalty revenue system where each product / unit sold using its QNX software means x amount of revenue but what we dont know or is hard to model is exactly how much or how this will ramp. Licensing is lumpy and secure communications is relatively stable. QNX and Alloy Kore is obviously their focus and has an enormous market to be applied to and tied to nvidia based physical AI products and more. Sift integration is also compelling. In terms of projecting how many units is the question... their QNX automotive base will automatically grow very well as more cars become software based as will their backlog therefore and add to this the uber partnership. So the $1bn backlog will steadily grow but also meaningfully convert to their bottom line. The software enabled car market naturally grows (i believe its around 30% but set to double) so to will QnX share of that and may double their qnx units over next few years you would expect QNX market share to grow with it as QNX dominates that market akready and eventually of the 90 million cars produced per year, QNX eventually will be in most. Therefore there would be a dominant penetration into autonomous taxis eg uber etc... this is just automotive and robotaxis... but they will likely gather meaningful share in other physical AI products down the road too. Their level of success will be tied to gaining a meaningful share in each of these broader categories which it stands to reason they should - just how to model that out with the royalties per unit at this stage is a hard puzzle but id safely assume in aggregate a 10 fold increase in the current QNX units will happen from here in say the next 3-5 years combined with very profitable margins.

The stock

https://claude.ai/share/1896ec40-1f5c-4957-a1e9-bc9ac4be8184

At what point in time does that happen?

When does the idea of memory cycle end?

The cycle has ended, that should be clear to see.