Hi Saul,
first of all wishing you a speedy recovery.
I am pleasantly suprised to see Pure Storage (PSTG) as one of your new holdings. I have initiated a position in PSTG a while back after @anthonyms sparked my interest here and after I did some more digging: SMCI: Supermicro - #16 by anthonyms
Since PSTG is not a classical hyper-growth company, I was wondering about your investing case, Saul (PSTG had almost flat revenue YoY in their last quarter report).
My investing thesis is based on the following:
- Strong growth of subscription business vs. legacy business (hidden within overall revenue)
- Several strong tailwinds: (1) AI adoption and need for fast data access (flash storage), (2) new product launches incl. solutions with strong ROIs, (3) shift towards flash storage in big data centers, (4) strong partnerships (Meta, NVIDIA, MDB etc.), (5) overall growth in need for data storage etc.
To sum it up: I believe the investing case for PSTG is that revenue growth might (!) see some significant acceleration and that this is currently not priced in (rather low valuation, poor growth on paper atm, low interest in stock as attention is focused on other tech stocks like NVIDIA/SMCI etc.)
Very keen to hear your thoughts, Saul. PSTG is currently my largest position.