lakl. ⚔️

*IBM CEO: DID NOT ANTICIPATE MAGNITUDE OF CAPEX REPRIORITIZATION well oops

Let me remind you once again why $IQE is the most undervalued company in its entire supply chain, and I just need 1) EV/Sales and 2) EBITDA Margins (%): Four names selling into the same InP / AI optics shortage. EV/Sales (TTM): $IQE: 5.2x $AXTI: ~31x $SIVE: ~44x LandMark (3081.TWO): ~102x P/S: 5.5x / 38x / 44x / 103x. In the same order. EBITDA margins: $IQE: positive. +3% at trough utilisation $AXTI: negative TTM $SIVE: negative, -22% last quarter LandMark: +37% Only two of the four make money. And the profitable Taiwanese one costs 20x more per dollar of revenue. $IQE FY26 guidance: Revenue growth over 20%, £117M+ Adj EBITDA "high single to low double digit £M" = margin tripling to 7-10% Q1 already tracking in line. Photonics grew 15% last year on AI and data centre demand An EBITDA positive, debt-free company guiding 20%+ growth at 4.4x forward sales, while loss-making peers trade at 23x to 75x. Since earnings, they have signed a partnership with $TSEM and they just landed a $14m contract with a strategic customer for AI and datacentre markets. This is the cheapest InP exposure on any exchange, and it will not stay at 5x sales for long imo. Earnings in September is the next major catalyst, the markets are giving you 2 more months to accumulate as many moon tickets as you can. Just my 2c.🙉