IREN: Why The Bullish Narrative Still Holds After Earnings

I remain bullish on IREN Limited despite an 11% decline over the past 6 months. IREN's fundamentals continue to strengthen even as its stock underperforms the benchmark. Major tech players' capex, potentially reaching $700 billion by 2026, could be conservative and support IREN's growth outlook. Nvidia's sustained AI demand and robust data center market growth reinforce the positive thesis for IREN.

Now, I have been bullish on IREN Limited (IREN) for quite some time now. Yes, it has been a challenging period for the stock, but I am not too concerned. As things stand, IREN has dropped by about 11% over the past six months.