Buying the Xiaomi Ecosystem Reboot: Betting on $29B in R&D to Drive Higher-Margin Hardware and Services
Xiaomi's announced $29 billion R&D commitment is the strategic lever we want to own. The spend should accelerate product differentiation across smartphones, smart home, and autos, increase software and services monetization, and compress the valuation gap versus better-known consumer-tech peers. We outline a long trade with entry, target and stop, …