Jason Ware

speaker

527 appearances 2 recordings 1 series first heard Apr 2026 last heard 13 Jul

Jason Ware’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.

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The Rundown · How Chip Stocks Became Wall Street’s Favorite AI Bet (ft. Jason Ware) · 13 Jul 2026 podcast

Again, that might be the term that defines this conversation here as we look back at Q2.

But the bottlenecks happening in terms of the AI build out are showing up in massive revenue and earnings and free cash flow growth.

of the microns and the sand disks, and even Intel is joining the party and has been this year.

And so I think that it's a logical shift for portfolio managers to say the revenues are really, really strong right now in some of these semiconductor areas, in particular memory stocks.

But the big question in my mind, if you're an investor, not a trader, and we're an investor today,

We're investors at Albion, long-term oriented.

Our view is like, how long can this last?

And we got so many analysts out there saying, but these stocks are cheap.

Look at Micron's trading at 10 times earnings or nine times earnings or whatever, forward earnings.

And I say, yes.

And if this is still a commodity business, and I think it probably is longer run, if it's still a commodity business, you want to buy commodity type stocks when the PEs are high and sell them when the PEs are low.

And so we'll see what happens with the earnings.

I will say these companies are sold out in 26 and probably most of 27 because they're trying to bring new capacity and that takes time.

But for now, it's definitely working in terms of the bottom line for these semiconductor companies.

Right.

Well, they say that the cure for high prices is high prices.

Yeah.

in a commodities business right because that brings on new supply and so if i'm an analyst or a portfolio manager or a trader chasing these things that is the key question is when is that supply going to catch up i think it's probably some time away but the market's going to be well ahead of that so you can't sit back and say well it's two years away i'm fine for the next two years you might be fine for six months until we get a data point that shows

OK, supply is finally coming online or to your point, and you ask this as part of your question, you know, do we see a slowdown in all the CapEx spending?

If we do, it doesn't even have to be a pivot.

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