The long-term rise in AI energy demand is a reasonable bullish logic, with a PE ratio of 27.36 belonging to the industry leader, slightly premium to the sector but not excessive. However, recent options indicate a put market before July 19, with a PCRatio as high as 4.77. From a technical perspective, there is support near 197, with resistance above at 212, 220, and then looking at the previous high of 230.