Alright listen up you option-chain goblins.
A few months ago I bought Ichor Holdings.
Why?
No idea.
Ticker looked funny. Semiconductors were doing semiconductory things. I had money in my account and apparently decided today was the day to become a confused industrial investor.
I did not understand the business. I did not model EBITDA. I did not call IR. I did not build a spreadsheet.
I saw “semiconductor equipment supplier” and my brain went:
BUY STOCK.
Now I’m up 5k€. Shares only :(
No options, because apparently I have become a responsible adult by accident and I hate it.
Ok so I have seen exactly zero things about ICHR here, so here comes my DD.
Do you know Nvidia? Tesla? ASML? Great.
This company has basically zero direct relationship to your favouzrite casino tickets, but did you know that “Ichor” literally means the blood of the Greek gods?
It also apparently means gross wound juice.
So we are either buying divine blood or financial pus. I’m not sure yet.
What does the company do?
From what my 12 minutees of post-buy research tell me, they make precision gas and fluid delivery stuff for semiconductor manufacturing equipment.
Basically nerd plumbing for chip factories. Chips need fabs. Fabs need machines. Machines need parts. Parts need weird industrial goblins nobody wants to talk about at dinner. That’s ICHR.
Why earnings might slap:
Semi cycle looks alive again.
AI capex is still behaving like a drunk oil prince.
Nobody talks about this thing.
Boring supplier stocks sometimes teleport when demand improves.
Also I rolled dice and it said bullish.
That is my model.
Risks:
All of them.
It’s cyclical, probably fragile, and if management says “customer timing” once on the call I will instantly become a long-term investor.
My plan:
Hold through earnings unless I panic like a small Victorian child.
Maybe trim if it goes completely insane.
Maybe cry if it dumps.
Maybe post again and pretend this was always a long-term thesis.
Final thesis:
ICHR is a weird semi equipment supplier goblin that I bought randomly, it went up, nobody talks about it, earnings might be good because the chip cycle is acting alive again, and my dice-based model says the stock may commit crimes upward.
Not financial advice (but buy the stock).
I bought first and googled later, which makes this post-DD, not pre-DD.