GREAT NEWS for AMD, MICRON, ELF & CAKE investors‼️

Jeremy Lefebvre Makes Money•Jun 25, 2026

Summary

Jeremy provides a deep dive into the semiconductor industry following Micron's 'shock and awe' earnings report, which featured a 346% revenue increase. He views these numbers as evidence of a monumental bubble because cost of goods sold (COGS) only rose 11%, suggesting unsustainable pricing power that will eventually face margin pressure in 1-2 years. Jeremy predicts that while earnings for these chip companies might not peak for a few years, the stock prices will likely peak in 2024, followed by a one-to-two-year period of sideways 'chop' where the stocks fluctuate without making new highs.

Jeremy also critiques Wall Street analyst Gene Monster’s view that the AI buildout is only in the 'second inning.' Jeremy argues we are much further along, likely in the sixth inning, because the massive capital expenditure (capex) from tech giants like Meta, Google, and Microsoft is mathematically unsustainable and already exceeding their net incomes. Beyond tech, Jeremy highlights growth in the consumer sector, specifically mentioning recovery in ELF Beauty and the non-cyclical growth runway for Cheesecake Factory.

**Micron (MU):** Jeremy describes the recent earnings as an 'A++' with revenue up 346%, but warns that the low COGS growth indicates a bubble. He predicts the stock will peak this year, mentioning potential price targets of $1,200, $1,500, or even $2,000 before entering a long period of stagnant 'chop.'

**AMD:** Jeremy is extremely bullish in the short term, suggesting the stock could reach $1,000 this year as 'shock and awe' earnings reports begin to surface. He sets a long-term market cap target of $2 trillion to $2.5 trillion but plans to sell the majority of his shares in the next 12 to 18 months to avoid the eventual cyclical downturn.

**ELF Beauty (ELF):** Jeremy notes the stock has rocketed 30% from recent lows and expects it to continue its trend of beating conservative guidance. He believes the stock could reach $200+ as momentum builds throughout the year.

**Cheesecake Factory (CAKE):** Jeremy views this as a 'beautiful, calm stock' with a cheap valuation and a 10-year growth runway through its various restaurant concepts. He emphasizes that unlike tech, CAKE is not cyclical and offers consistent expansion potential.

Mentioned Stocks

Sentiment: BUYAction: RECOMMENDED

Reasoning: Jeremy is impressed by the A++ earnings and 346% revenue growth. He believes the stock has massive momentum for the remainder of the year and could peak at prices between $1,200 and $2,000. However, he warns it is a bubble that will eventually lead to a multi-year sideways 'chop' and then a down cycle once production capacity increases in 2028.

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ELF

Sentiment: BUYAction: RECOMMENDED

Reasoning: The stock has recovered 30% from recent lows. Jeremy highlights a recurring pattern where the company issues conservative guidance and then consistently beats it. He predicts the stock could move to $200+ as it gains excitement throughout the year.

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CAKE

Sentiment: BUYAction: RECOMMENDED

Reasoning: Jeremy likes the cheap valuation and the fact that it is a non-cyclical growth play. With restaurant concepts like North Italia and Flower Child, he sees over 10 years of consistent growth runway and margin expansion ahead.

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AMD

Sentiment: BUYAction: RECOMMENDED

Reasoning: Jeremy expects AMD to benefit from the semiconductor momentum and predicts the stock could hit $1,000 this year. He anticipates 'shock and awe' earnings reports in the coming quarters. While he sees a long-term path to a $2-2.5 trillion market cap, he mentions he owns a 'crap ton' of shares and plans to sell most within 12-18 months.

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