AMAT

The Magnificent 7 vs. The AI Infrastructure Play

The Magnificent 7 are expensive, cash-burning AI believers trading at 31-40x free cash flow while promising returns that might not materialize. A better bet is the companies selling them the shovels - the AI Infrastructure Compounders 7 (AIC-7), who are generating cash today while the hyperscalers burn through $417 billion this year alone.

The Silicon Trinity

There is no credible path to semiconductor advancement without these three companies. Every iPhone, NVIDIA GPU, and data center processor exists because ASML, Applied Materials, and KLA permit it to.