I think the misconception with ENPH is, that it would benefit from datacenters economy - it doesn't. It's one of the few stocks that will NOT benefit from datacenters. And tax credits expiring means this is downright terrible.
Microinverters are only feasible in american homes, especially with roofs facing in multiple directions, this giving an edge to micro's instead of string inverters. So for homes this is good, but without tax credits the price point is going from bad to worse.
The good:
\-If home solar jumps in popularity, enph will do well.
\-If interest rates go down and electricity goes up, solar tends to do decent
\-If solar stocks as a whole go up, ENPH may go up in sympathy due to index funds and algos, but not because of its own merits.
\-There are some arguments to be made about fire safety - for some situations this is beneficial where this is of utmost importance.
The bad:
\-Home solar is hard to make work without tax credits - in almost any country. Especially with higher price point of micros
\-ENPH will NOT benefit from datacenter and AI Economy. It's all about pricepoint - and micros can never handle this.
\-Solar panels have evolved to the point that panels themselves will drop out even shaded single cells, while allowing full production from all other panels and cells from the shaded panel. Where do you need micros anymore then? String inverters handle the job with less than half the price, with easier maintenance.
In short, while its a profitable company, I would personally look at 5-10 P/E before buying in, or the electricity market and prices should reflect 5-7 year payback time for the end customer (8-12% ROI), before this is poised for a jump.
If you want to play solar sector, I would look at other companies actually doing something for AI and datacenters, like $TE
The dot com bubble was a crash but it was correct that the internet would change the economy forever and anyone who didnt get onboard would be washed away with e-commerce. AI is the same way, it may deflate one day but investors are correct that AI is going to change literally everything about the economy like the internet did
I use it every day, never gonna pay for it. But I do turn off my ad blocker. It's just good enough for me to keep using it for free.
Edit: P/E of 100 for a company with ZERO moat, naw dawg