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Semiconductors · Thesis 49 · settles Nov 18 · 26 days · 3 rungs

Will large software firms' gross margins drop a point or more by Q3 2027 while Nvidia's stays at or above 70%?

3 bars, one reading.

Your numbers run down the rungs: a reading that clears a higher bar clears every lower one, so each number must be at most the one above it. Move one and the others stay coherent.

≥ 80%≥ 90%≥ 100%
your rungs the Call and the machines appear after you lock the rungs
One control per rung; a higher rung never sits above a lower one. The Call and the machines appear on each rung after you lock.

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138 in play