AlphaTarget PULSE - Markets | Business | Technology | Investing | Insights

About AlphaTarget PULSE - Markets | Business | Technology | Investing | Insights

AlphaTarget PULSE brings you timely, institutional-grade insights on markets, business, technology and investing. Every other Friday, our Founder Puru Saxena (veteran money manager and Founder of money management firms in Hong Kong) and our highly experienced analysts (ex-Citibank, Societe Generale, Peel Hunt, Berenberg, Motley Fool) cut through the noise and dissect markets, disruptive business trends, technological developments and opportunities, revealing where the smart money is investing. AlphaTarget PULSE is a production of AlphaTarget, a premier research firm which specialises in uncovering disruptive, rapidly growing companies in the public markets, equipping investors with actionable insights to stay ahead in today’s ever-evolving business landscape. Our firm is trusted by a wide range of investors including individuals, family offices, financial advisers, funds and wealth managers and our research subscription educates and empowers investors to make smarter decisions.  Meet the Panellists: Puru Saxena – Former Founder and Portfolio Manager of two Hong Kong based money management firms (2001–2016) and a regular guest on Bloomberg, CNBC, BBC and CNN. His firm was acquired by a listed asset management company in 2016. Today, he shares his investment insights with 380,000+ followers on X (@saxena_puru). Irnest Kaplan – Former Equity Analyst at Societe Generale and Founder of a boutique research firm for 22 years. Recognised multiple times as South Africa’s #1 analyst in Computing and Electronics by institutional investors. BSc in Electrical Engineering (Cum Laude) from the University of the Witwatersrand, South Africa and CFA Charterholder. Oyvind Bjerke – Former Investor at Arceau Family Office and Research Manager at MMC Ventures. Previously Equity Analyst at Peel Hunt and Berenberg, specialising in disruptive technology and thematic research. MSc in Behavioural Finance (Distinction) from Warwick Business School and an MA (Honours) in Economics and Accounting from the University of Edinburgh. Anirban Mahanti – Former Director of Research and Portfolio Manager at The Motley Fool (Australia) with expertise in disruptive technologies and machine learning. Co-author of over 70 peer-reviewed papers and has consulted for industry. Ph.D. and MSs in Computer Science from the University of Saskatchewan and a BE from Birla Institute of Technology, India. Damia Othman – Former Manager at Citibank Malaysia. Previously, VP at Affin Hwang Investment Bank and sell-side analyst at KAF Equities and TA Securities covering consumer and autos. BA (Honours) in Business Economics from the University of Exeter, UK. AlphaTarget Pulse is a production of Alpha Target Limited, a company registered in Jersey (Channel Islands). The opinions expressed in this podcast and the information provided are for informational and educational purposes only and are not to be construed as investment advice. You should consult with your own registered investment adviser or other qualified financial professional before making any investment decisions.

Publisher

Puru Saxena

Category

business

Language

en

Explicit

No

First episode

25 Sept 2025

Latest episode

10 Jul 2026

Latest episodes

21 episodes in the feed.

1. 

   10 Jul 2026

   Semiconductor Sell-Off, the Software Rotation, and Why Meta's Cloud Move Isn't What It Looks Like

   Semiconductor and memory stocks have pulled back sharply while software names stage a quiet comeback, is this just healthy rotation, or the start of something bigger? Puru Saxena, founder of AlphaTarget and growth investor, is joined by AlphaTarget's analyst team to unpack the sharp fifteen percent pullback in the SOXX semiconductor ETF against a ten percent rally in the IGV software ETF, why the team continues to hold roughly 15-20% in cash after recently locking in partial profits, and why they expect the next three to four weeks to stay choppy amid ongoing volatility out of the White House. Damia breaks down the capital rotation out of overbought semiconductor names and into infrastructure software, monitoring, and security stocks, and explains why rising memory prices are creating margin pressure across parts of the AI supply chain while leaving connectivity players largely unaffected. Anirban Mahanti explains why horizontal and "boutique" SaaS software remains vulnerable to AI disruption, while companies building durable data moats and network effects around orchestration, observability, and multi-cloud management are positioned to compound that advantage over time. Oyvind Bjerke discusses the escalating competitive landscape in fast inference, comparing Groq and Cerebras' SRAM-based architectures against Qualcomm's newly unveiled Dragonfly platform, and explains why the decode stage of inference is so memory-bandwidth constrained, and how Cerebras' wafer-scale approach solves SRAM's historical capacity problem. Irnest Kaplan walks through Morgan Stanley's hyperscaler capex forecasts, why growth is expected to nearly halve from 79% in 2026 to 39% in 2027, and why Meta's newly announced cloud compute business is a less alarming development than the market's initial reaction suggested. The episode also covers why fast inference may become more valuable, not less, as AI workloads bifurcate between on-device and cloud processing, how AlphaTarget's portfolio has returned roughly 65% since launching two years ago versus the S&P 500's 39%, and why the team is taking a short break over the summer before returning later this year. -- AlphaTarget PULSE brings you timely, institutional-grade insights on markets, business, technology and investing. Every other Friday, our Founder Puru Saxena (veteran money manager and Founder of money management firms in Hong Kong) and our highly experienced analysts (ex-Citibank, Societe Generale, Peel Hunt, Berenberg, Motley Fool) cut through the noise and dissect markets, disruptive business trends, technological developments and opportunities, revealing where the smart money is investing. AlphaTarget PULSE is a production of AlphaTarget, a premier research firm which specialises in uncovering disruptive, rapidly growing companies in the public markets, equipping investors with actionable insights to stay ahead in today's ever-evolving business landscape. Our firm is trusted by a wide range of investors including individuals, family offices, financial advisers, funds and wealth managers and our research subscription educates and empowers investors to make smarter decisions.

2. 

   26 Jun 2026

   Micron's Multi-Decade AI Bet, the Memory Cycle Peak, and Why We're Holding 35% Cash

   The stock market staged a sharp reversal this week after Micron's blowout earnings reignited enthusiasm for AI infrastructure stocks, but is the rally on solid footing, or are investors getting ahead of themselves again? Puru Saxena, founder of AlphaTarget and growth investor, is joined by AlphaTarget's analyst team to unpack the recent stabilisation in equity markets, the easing of oil prices and bond yields following progress on the Iran-US deal, and why the team remains cautious despite the improving macro economy backdrop. With the Federal Reserve signalling a possible rate hike later this year, the panel discusses why they continue to hold roughly 35% in cash and have shifted away from index hedging towards buying puts on individual overextended names, a key shift in investing approach. The discussion then turns to Micron's bold earnings call, in which the CEO claimed AI and robotics demand could drive a multi-decade upcycle in memory requiring ten times current memory usage. Puru Saxena and Irnest Kaplan, CFA Charterholder and former Societe Generale analyst, weigh in on why such claims deserve scrutiny, and examine new research from Bernstein suggesting memory earnings could peak in the second half of 2027 before declining sharply, raising questions about how much further the semiconductor rally can run and what it means for disruptive stocks. Anirban, PhD in Computer Science and former Director of Research and Portfolio Manager at Motley Fool Australia, breaks down Apple's newly unveiled on-device AI strategy, revealing how the company has built its foundation models on top of Google's Gemini rather than developing its own from scratch. The team explores how Apple's approach to personalisation, semantic indexing, and orchestration between on-device and cloud computing models could reshape how enterprises think about deploying AI securely at scale. Irnest Kaplan also discusses the early signs of enterprises pulling back on AI spending after a period of unrestrained "token maxing," as companies grapple with the cost and security challenges of deploying AI agents across large organisations, a growing theme across business trends today. Finally, the panel examines the fast-emerging premium inference market, with Oyvind detailing how companies like Groq and Cerebras are using SRAM-based architectures to dramatically accelerate inference speeds, and why Nvidia's own guidance points to a market that could be worth hundreds of billions of dollars in the years ahead, a major signal for anyone tracking technology and finance. The episode also explores why software and infrastructure companies integrating AI agents, including those in ecommerce, may be best positioned to benefit from the next leg of the AI cycle, why parabolic moves in semiconductor stocks rarely sustain themselves without a pullback, and how AlphaTarget is positioning its portfolio and broader business strategy for a volatile but potentially rewarding second half of the year. -- AlphaTarget PULSE brings you timely, institutional-grade insights on markets, business, technology and investing. Every other Friday, our Founder Puru Saxena (veteran money manager and Founder of money management firms in Hong Kong) and our highly experienced analysts (ex-Citibank, Societe Generale, Peel Hunt, Berenberg, Motley Fool) cut through the noise and dissect markets, disruptive business trends, technological developments and opportunities, revealing where the smart money is investing. AlphaTarget PULSE is a production of AlphaTarget, a premier research firm which specialises in uncovering disruptive, rapidly growing companies in the public markets, equipping investors with actionable insights to stay ahead in today's ever-evolving business landscape. Our firm is trusted by a wide range of investors including individuals, family offices, financial advisers, funds and wealth managers and our research subscription educates and empowers investors to make smarter decisions.

3. 

   12 Jun 2026

   AI Token Wars, Oracle's AI Spending Boom, and Why Markets May Not Be Done Falling

   Markets have finally started pulling back after months of relentless gains, but is this correction only just beginning? Puru Saxena, founder of AlphaTarget and growth investor, is joined by AlphaTarget's analyst team to discuss the recent turbulence in equity markets, why the firm raised cash and hedged its portfolio ahead of the sell-off, and why the team believes a deeper correction may still lie ahead. With the Federal Reserve meeting approaching, the panel examines how monetary policy, investor sentiment, seasonality, and overstretched valuations could shape market performance over the coming weeks. The discussion then turns to one of the most important developments in artificial intelligence: the rapidly falling cost of AI inference. Anirban Mahanti, PhD in Computer Science and former Director of Research and Portfolio Manager at Motley Fool Australia, explores why companies are increasingly shifting workloads away from expensive frontier models and towards cheaper open-source alternatives. The team debates whether AI models are becoming commoditised, how orchestration may become the next competitive battleground, and what declining token prices could mean for the broader AI ecosystem. Damia, former analyst at Citibank and investment banking professional, breaks down Oracle's latest earnings results, including accelerating cloud infrastructure growth, surging AI-related demand, and the company's enormous capital expenditure plans. The discussion examines whether investors should be worried about rising debt levels and negative free cash flow, or whether Oracle is positioning itself for a much larger opportunity ahead. The panel also revisits one of the most controversial areas of the AI investment boom: memory and semiconductor stocks. The team explains why seemingly cheap valuations in cyclical industries can often be a warning sign rather than an opportunity, and why investors should pay close attention to slowing growth rates, earnings expectations, and historical market cycles. Finally, Irnest Kaplan, CFA Charterholder, former Societe Generale analyst and AlphaTarget Senior Analyst, discusses emerging evidence that enterprises may be reducing spending on expensive AI models. The team reviews new industry data, explores the rise of low-cost competitors from China, and analyses recent comments from Palo Alto Networks CEO Nikesh Arora on the future of AI, cybersecurity, enterprise software and data infrastructure. The episode also explores why AI infrastructure companies may remain among the biggest beneficiaries of the AI revolution, why software markets are becoming increasingly polarised between winners and losers, and how AlphaTarget is positioning for what it believes could be a volatile but opportunity-rich second half of the year. -- AlphaTarget PULSE brings you timely, institutional-grade insights on markets, business, technology and investing. Every other Friday, our Founder Puru Saxena (veteran money manager and Founder of money management firms in Hong Kong) and our highly experienced analysts (ex-Citibank, Societe Generale, Peel Hunt, Berenberg, Motley Fool) cut through the noise and dissect markets, disruptive business trends, technological developments and opportunities, revealing where the smart money is investing. AlphaTarget PULSE is a production of AlphaTarget, a premier research firm which specialises in uncovering disruptive, rapidly growing companies in the public markets, equipping investors with actionable insights to stay ahead in today's ever-evolving business landscape. Our firm is trusted by a wide range of investors including individuals, family offices, financial advisers, funds and wealth managers and our research subscription educates and empowers investors to make smarter decisions.

Reach and audience

Public platform figures. Ratings count people who left a rating, not total listeners.

Apple Podcasts (US)

5.0 / 5

5 ratings

Spotify

5.0 / 5

4 ratings

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