做多

SIRI - Getting Sirusly Bullish

Siri earnings are here and there are MANY reasons to be bullish.

Fundamentals

Warren Buffet's Berkshire has been buying relentlessly over recent months.
The stock is down 68% from its high in July this year.
Siri's earnings have been exceptional for years. Tomorrow (31st October) is predicted to be no different.
Gross margins of 49%, EBITDA margin of 29% and P/E ratio of 8.2 in prior quarter.

Technicals

RSI has put in a higher-low & is giving us a glimpse of divergence. The price recently put in a lower-low, suggesting selling pressure is limited from here.
From a technical perspective, SIRI is just about to complete a 7 year accumulation phase in a wedge pattern (yellow).
When it does so, it will also put the finishing touches to an inverse head & shoulders (or cup and handle) pattern that has lasted 23 years. That head was a HUGE elongated structure, after the stock was teetering on the verge of bankruptcy in 2008/9.
By taking the height of the H&S structure and applying it on-top (white arrows), you get an eventual price target (T2) of, that's right ....$10,100 a share. 370x from current levels.
That T2 target also corresponds with the 2.0 fibonacci level.
An earlier more modest initial target is the 1.414 fib, of $530 (19.3x). This coincides with it's prior all-time high and where the stock may find a place to rest for a breather on it's meteoric rise.
An extended T3 target for the 2040s would land in the fib pocket (2.272/2.414) priced at between 40k - 80k a share.
And yes. I'm deadly Sirius.

Summary
looks like it will be shining bright until at least 2030, and likely beyond.

One of the best value investors of all-time agrees (at a time when he is raising significant cash from Apple & Bank of America) amidst uncertainty & a transition of infrastructure.

Satellite communication companies are really about to kick into their adoption phase. We may all soon realise why Siri is a crucial part of that future.

DigiDavid