Cross-posted with essentially the same post over on the NPI board, in case you already read it there.
At the current price levels, still down maybe 40% from the peak it reached shortly after the last earnings report, I think it might be.
To my knowledge, there hasn’t been any company specific news about Pure Storage subsequent to the last earnings announcement that would warrant their drop being at the level it has been. Perhaps I missed something?
PSTG is certainly not NVDA in terms of being immensely ahead of their competition, but similarly to the way NVDA has been characterized as being essentially no different than AMD based on recent share price performance, PSTG’s share price has been similarly hammered.
I have added to my PSTG long position on multiple occasions in recent times, and remain almost compelled to add even more. I will not be surprised if PSTG shares appreciate a good deal after their next earnings announcement, particularly if Apple has positive earnings and guidance tomorrow to help continue buoying the tech market particularly, and the whole market in general (due to its gigantic market cap, which of course dwarfs its enterprise value with all that cash printing). Pure’s earnings announcement should be sometime around November 26th.
volfan84
long PSTG, with a myriad of different long call positions in addition to a core shares position