M-04 Primary Base 主底／初始基礎打底：最大獲利的起點
Primary Base 是強勢股在 Stage 2 主升段早期形成的主底／初始基礎打底。本文比較 O’Neil 與 Minervini 對 Primary Base、VCP、Pivot Point、供需結構與 Base Count 的定義，說明為什麼第一個底部往往是最大獲利的起點。
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M-04 Primary Base: The Starting Point of Your Biggest Gains
Primary Base is the major early base of a Stage 2 advance, not an IPO-only setup. This article compares O’Neil and Minervini on Primary Base, VCP, Pivot Points, supply-demand structure and Base Count, explaining why the first base often creates the largest gains.
Cadence Design Systems (CDNS) Deep Research: The Invisible Empire of Chip Design
Cadence Design Systems (CDNS) is core infrastructure for chip design. This deep research note reviews the EDA moat, AI as a tool-consumption multiplier, record backlog, China export-control risk, Synopsys-Ansys competition, and GAAP vs. non-GAAP valuation debate.
Cadence Design Systems（CDNS）：晶片設計的隱形帝國，AI 是倍數器
Cadence Design Systems（CDNS）是晶片設計基礎設施的核心公司。本文分析 EDA 護城河、AI 作為工具消耗放大器、78 億美元 Backlog、中國出口管制、SNPS+Ansys 競爭與 GAAP/Non-GAAP 爭議。
Cloudflare (NET) Q1 2026 Full Post-Earnings Analysis: 1,100 Layoffs, a $5B ARR Target, and the Cost of an AI-First Reset
Cloudflare (NET) beat Q1 2026 expectations, then announced a 1,100-person AI-first restructuring. This analysis reviews Q1 results, VoidZero, Investor Day, AgentStack, Cloudflare OS, Rule of 50, and whether the moat is narrowing.
Cloudflare（NET）Q1 2026 完整事件分析：裁員 1,100 人、Investor Day $50 億目標，AI 轉型代價幾何？
NET Q1 2026 財報全面超預期，但宣布裁員 1,100 人轉型 AI-first。本文從財報、法說會、VoidZero 收購到 Investor Day，分析 $50 億 ARR 目標與 Cloudflare 護城河是否仍成立。
Zscaler (ZS) Post-Earnings Deep Dive: From a 31% Crash to the ZenithLive AI Rebuild
Zscaler (ZS) fell 31% after Q3 FY2026 earnings. This deep dive tracks Baird, BofA, ZenithLive, Zero Trust, AI Broker, FCF guidance, and the post-earnings recovery path.