Aug 26, 2026

What Changed This Run

No kills, closes, bar crossings, or new 8/10+ ideas were recorded. The 8/10+ set stayed intact: AVGO, MU, INSW, CCJ, NOW, BBIO, META, RARE, NXT, TLN, and MLYS. The concrete confirmations were concentrated in primary baselines: AVGO still faces the Sept. 2 fiscal Q3 test after reporting $22.187B Q2 revenue, $10.8B AI semiconductor revenue, and Q3 expectations for $16.0B AI semiconductor revenue and $29.4B total revenue; MU held at 9/10 after fiscal Q3 revenue of $41.456B, non-GAAP EPS of $25.11, 84.9% non-GAAP gross margin, and Q4 guidance for $50.0B revenue with about 86% gross margin; INSW held at 8/10 after record Q2 net income of $295M, adjusted EBITDA of $345M, a $5.05 September dividend, and crude-tanker spot earnings above $64,500/day.

High-Conviction Theses Reviewed

AVGO remains a maintained 3m high-conviction thesis, with the question narrowed to whether fiscal Q3 confirms the AI semiconductor ramp and FY2027 XPU backlog framing. MU remains the strongest 1y thesis in the review at 9/10, with HBM4 in high-volume shipments and HBM4E volume production expected in calendar 2027. INSW remains an 8/10 3m thesis tied to tanker-rate durability and the variable dividend.

What To Watch Next

AVGO reports fiscal Q3 after close on Sept. 2, 2026. INSW has a regular-dividend ex-date on Sept. 10 and payment date on Sept. 24. TLN has an expected FERC decision window around Sept. 15. RARE has the UX111 PDUFA action date on Sept. 19 and GTX-102 Phase 3 Aspire data expected in September or October. MU has estimated fiscal Q4 earnings in late September. NXT reports Q2 FY2027 after close on Oct. 22. NOW and META report Q3 after close on Oct. 28. MLYS has the ICER Midwest CEPAC meeting on Oct. 29 and lorundrostat PDUFA on Dec. 22. BBIO has the BBP-418 PDUFA on Nov. 27, with Q3 Attruby sales due in Q4.