Daily Alpha · YouTube
· Midday Alpha · by Buzzberg Research
Who was talking 33 videos · 12 channels
SpaceX's spectrum license 'not competitive' with Big 3 telecom offerings, says Julie Zhu
A sell-side research analyst argues that SpaceX's acquisition of low-band spectrum and its planned direct-to-cell constellation will not produce a service competitive with the incumbent wireless carriers, given the physics of satellite signal loss and the incumbents' far larger spectrum holdings. She frames the spectrum purchase as more likely a bargaining chip for a wholesale/MVNO arrangement than a genuine facilities-based mobile build, and doubts any of the big three carriers will break ranks. Her price target sits below the current share price, implying the recent rally on the spectrum news overshoots the fundamentals. SpaceX's push into terrestrial wireless is unlikely to be competitive or to justify the market's enthusiastic reaction; capital is better spent on launch, AI, and software priorities where returns are clearer, making the stock expensive at current levels.
Slok: high rates choke housing supply and push rent inflation up
Apollo's Torsten Slok says higher borrowing costs suppress home construction, lifting rents and owner's equivalent rent, roughly a quarter of CPI. He estimates the AI boom adds about one percentage point to GDP growth.
Carlyle's Thomas wants private credit to cap AI data-center exposure
Carlyle's Jason Thomas warns private credit funding the AI data-center buildout may repeat a SaaS-style concentration mistake and urges pre-set exposure caps and higher premiums for incremental exposure.
McNally: oil underprices geopolitical risk as attacks hit infrastructure
Bob McNally of Rapidan Energy Group argues oil still underprices supply risk as Middle East attacks broaden toward fixed energy and civilian infrastructure, and is skeptical the Russia-Ukraine energy truce will hold.
JPMorgan's Manoukian sees semiconductor earnings growth around 150%
Jacob Manoukian of JPMorgan Private Bank says semiconductors might come in around 150% earnings growth with the broad tech sector around 70%, and that investor skepticism has kept valuations from overheating.