8/12/24 - $dlb - Already buy $66 but want more

8/12/24 :: VROCKSTAR :: DLB
Already buy $66 but want more

- quick comment, hit a 'check in' target i set from a year and a half ago
- results reflect the consumer/ macro not a company issue
- stock trading at lows on it's equal-weighted SPY pair ("DLB/SPXEW") which is interesting but also gives me some ST caution
- valuation starting to be compelling in the mid 60s
- if i were a boomer looking for dividend and buyback income, this would be a 1-2% position ez-pz
- but again, i'm trying to limit so many positions and prefer larger and higher conviction upside picks
- if we enter low $60s, say $62 where i set my tgt, you're looking at sub 20x PE (FY25 and cash adjusted EV), which starts to look more attractive to me. otherwise, i'm buying TSM for "tech" - i get it i get it - different industries. that being said TSM has better ST and MT growth and trades just as cheap w a ton of cash generation. so that's where my gas is for now.

V