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In its upcoming report, ManpowerGroup (MAN - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.01 per share, reflecting an increase of 21.7% compared to the same period last year. Revenues are forecasted to be $4.91 billion, representing a year-over-year increase of 5.9%.

The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

That said, let's delve into the average estimates of some Manpower metrics that Wall Street analysts commonly model and monitor.

According to the collective judgment of analysts, 'Revenues from Services- Americas' should come in at $1.21 billion. The estimate suggests a change of +10.3% year over year.

The consensus estimate for 'Revenues from Services- APME' stands at $521.79 million. The estimate indicates a year-over-year change of +0.3%.

Analysts forecast 'Revenues from Services- Southern Europe' to reach $2.27 billion. The estimate points to a change of +3.1% from the year-ago quarter.

Analysts predict that the 'Revenues from Services- Northern Europe' will reach $876.01 million. The estimate indicates a change of +7.3% from the prior-year quarter.

The combined assessment of analysts suggests that 'Revenues from Services- Southern Europe- Other Southern Europe' will likely reach $614.43 million. The estimate indicates a year-over-year change of +7.9%.

Analysts expect 'Revenues from Services- Southern Europe- France' to come in at $1.18 billion. The estimate points to a change of +0.8% from the year-ago quarter.

The collective assessment of analysts points to an estimated 'Revenues from Services- Americas- United States' of $723.53 million. The estimate suggests a change of +4.7% year over year.

Based on the collective assessment of analysts, 'Revenues from Services- Americas- Other Americas' should arrive at $488.69 million. The estimate indicates a change of +19.8% from the prior-year quarter.

The consensus among analysts is that 'Revenues from Services- Southern Europe- Italy' will reach $489.86 million. The estimate points to a change of +5.9% from the year-ago quarter.

Analysts' assessment points toward 'Operating Unit Profit- Americas' reaching $47.47 million. The estimate is in contrast to the year-ago figure of $37.90 million.

It is projected by analysts that the 'Operating Unit Profit- APME' will reach $24.64 million. The estimate is in contrast to the year-ago figure of $26.80 million.

The average prediction of analysts places 'Operating Unit Profit- Southern Europe' at $74.46 million. Compared to the present estimate, the company reported $65.60 million in the same quarter last year.

View all Key Company Metrics for Manpower here>>>

Manpower shares have witnessed a change of -6.5% in the past month, in contrast to the Zacks S&P 500 composite's +2.4% move. With a Zacks Rank #3 (Hold), MAN is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

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New Series of Testers Extend the UltraFLEXplus Architecture to Deliver Superior Floor Space Economics for High-Mix, Variable-Volume Manufacturing

NORTH READING, Mass.--(BUSINESS WIRE)--Teradyne, Inc. (NASDAQ: TER), a leading provider of automated test equipment and advanced robotics, today announced the launch of the UltraFLEXplus S series, an extension of its UltraFLEXplus platform engineered to maximize output per square meter and operational efficiency for high-mix, variable-volume semiconductor manufacturing for edge AI applications. The first model, UltraFLEXplus S24, is a 24-slot system built for both engineering and production use, with particular emphasis on the economics that matter most to integrated device manufacturers (IDMs) and outsourced semiconductor assembly and test (OSAT) providers.

As AI moves from the data center to the edge, customers need a platform that fits their facilities today and scales with them tomorrow, without giving up the rigor and reliability they already trust from UltraFLEXplus.

Share The single-module UltraFLEXplus S series is positioned alongside the quad-module UltraFLEXplus Q series as part of Teradyne’s scalable UltraFLEXplus platform strategy. As demand grows at the edge, manufacturers face economic constraints, supply chain dynamics, device volumes, and product mixes that differ from those in data center and cloud applications, making cost effectiveness across both capital and operating expenses critical to success. The UltraFLEXplus S delivers an efficient option for these devices built on the same architecture and IG-XL software foundation.

"Floor space is one of the biggest hidden costs in high-mix manufacturing, and UltraFLEXplus S is built to optimize it," said Roy Chorev, vice president and general manager of the Compute Test division at Teradyne. "As AI moves from the data center to the edge, customers need a platform that fits their facilities today and scales with them tomorrow, without giving up the rigor and reliability they already trust from UltraFLEXplus."

Key Features and Benefits

Right-Sized Footprint: A compact system that reduces floor space and facilities overhead without compromising test capability. Workflow Continuity: Utilizes the same instrument module ecosystem, IG-XL software environment, and test program library as the UltraFLEXplus Q series, allowing customers to reuse existing engineering investment. Optimized Economics: Engineered to maximize utilization, overall equipment effectiveness (OEE), and output per unit of floor space, the metrics that matter most in high-mix, variable-volume production environments. Scalable Platform: UltraFLEXplus S24 is the first member of the S series, offering customers an entry point into the UltraFLEXplus platform architecture. Broad Application Coverage: Supports both engineering and production test insertions, including tri-temperature testing, for microcontrollers (MCUs), multimedia, and edge AI devices across automotive, industrial, and consumer end markets. With the introduction of UltraFLEXplus S series, Teradyne extends the reach of its proven UltraFLEXplus architecture to tackle emerging edge applications. By leveraging existing test development infrastructure, such as test program libraries, and the IG-XL software environment, UltraFLEXplus S supports Teradyne’s continued investment in helping customers scale test operations while improving engineering efficiency and quality to meet the evolving market demand.

For more information, visit us at booth #1143 at SEMICON West, October 13-15, 2026, in San Francisco, California, and at booth #204 at the IEEE International Test Conference (ITC), October 11-16 in San Antonio, Texas. Learn more at teradyne.com/ultraflexplus.

About Teradyne

Teradyne (NASDAQ: TER) designs, develops, and manufactures automated test equipment and advanced robotics systems. Its semiconductor and electronics test solutions span the full AI device supply chain, from wafer to data center, enabling customers to meet the quality and reliability standards the AI era demands. Its advanced robotics business deploys intelligent automation across manufacturing, logistics, and data center operations for customers worldwide. For more information, visit teradyne.com. Teradyne® is a registered trademark of Teradyne, Inc., in the U.S. and other countries.

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Investors in C.H. Robinson Worldwide NASDAQ: CHRW have had a few days to react to the company's announcement of a stock-and-cash agreement to acquire RXO NYSE: RXO with an implied value of $5.8 billion. CHRW closed down nearly 11% on announcement day and fell another 4% on Oct. 6, extending the slide.

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The Acquisition Makes C.H. Robinson a Different CompanyC.H. Robinson Worldwide Today

CHRW

C.H. Robinson Worldwide

$140.16 -2.15 (-1.51%)

As of 10:14 AM Eastern

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$123.64▼

$210.331.80%

26.71

$192.08

The sell-off isn't really about RXO. It's about what investors thought they owned. For two years, Wall Street rewarded C.H. Robinson for a self-help story it calls "Lean AI."

The company cut costs, shrank headcount, and protected margins through a brutal freight recession. In October 2025, shares spiked nearly 16% intraday after a third-quarter beat, as operating expenses fell 12.6% and average headcount dropped 10.8%.

That story was about doing more with less. The RXO deal asks investors to believe in doing more with more.

The Lean AI narrative now depends on integrating another company's people, systems, and freight book.

That means investors who bought a story of expanding margins now own a company with future earnings that depend on successful integration. Those two stories rarely trade at the same multiple.

What Management Is Asking Investors to AcceptC.H. Robinson disagrees with that assessment. The company plans to apply its Lean AI operating model to RXO's brokerage, expedited, and last-mile businesses. It is targeting roughly $300 million in annual net cost savings within two years of closing. The deal is expected to lift adjusted earnings per share (EPS) within nine months of closing, with mid-teens accretion in 2028.

That will require patience. The deal will add roughly $3 billion in new debt. Buybacks are paused until leverage returns to a 1.75x to 2.25x net debt-to-adjusted EBITDA range, targeted by the end of 2028.

That timeline puts the problem in focus. The deal isn't expected to close until the first half of 2027. Accretion arrives in 2028 at the earliest. The buyback returns after that. That's over two years of "trust us" from a stock that had been priced for reliability.

Where the Discount Comes FromThe fundamentals of the deal aren't absurd, and the sell side largely agrees with C.H. Robinson. Bank of America kept its Buy rating but trimmed its price objective to $203 from $226 to account for equity dilution. Analysts broadly view the synergy target as achievable.

But current investors aren't paying for patience. Pausing buybacks removes a near-term source of support for the shares. Meanwhile, roughly 43% of the price is paid in CHRW stock, and RXO holders will own about 11% of the combined company.

There's also the deal structure itself. RXO holders receive $17.25 in cash plus approximately 0.0856 CHRW shares for each share they own. At a $130 CHRW price, that package is worth about $28.40, not the $30.25 headline. In other words, the falling stock is repricing the deal in real time.

Trust was already thin heading in. CHRW has been in a bearish trend since a $604 million verdict against C.H. Robinson on July 21. A Texas jury applied a key Supreme Court ruling to find the company directly liable for negligent selection and vicariously liable under the "borrowed employee" doctrine following a fatal multi-vehicle crash.

Buy the Dip or End of the Re-Rating?For all those headwinds, the bull case is real. Lean AI has a track record. Management can point to two years of falling costs and rising productivity. Scale matters too. The company expects RXO's data to sharpen its AI-driven sales, freight matching, and procurement. If $300 million in synergies shows up on schedule, today's price could look like a gift.

The bear case is about what kind of stock CHRW becomes. The re-rating was built on organic margin expansion. Acquisitions turn a multiple story into an execution story.

Execution stories rarely earn premium multiples until results arrive. RXO is also still absorbing Coyote Logistics, which it bought from UPS NYSE: UPS in 2024. C.H. Robinson is effectively buying an integration that's still in progress.

The freight cycle adds another variable. Synergy math works better when volumes recover. A prolonged trucking downturn would test both the debt paydown timeline and the accretion target.

So which is it? This doesn't look like a clean buy-the-dip setup, because the key catalysts are years away. But it may not be the end of the re-rating, either. It looks more like a reset, where the stock must re-earn its multiple one quarter at a time.

The first hint may come from C.H. Robinson's Q3 earnings report, expected in early November. If legacy productivity metrics keep improving, investors may grant management the patience it's requesting. If they stall, the market will conclude that the AI story needed an acquisition to keep growing. That would be a much harder narrative to reverse.

Should You Invest $1,000 in C.H. Robinson Worldwide Right Now?Before you consider C.H. Robinson Worldwide, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and C.H. Robinson Worldwide wasn't on the list.

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Fresh hardware arriving at Cape Canaveral gave AST SpaceMobile bulls a reason to cheer, but a mounting analyst argument about SpaceX may matter far more for where the stock heads next.

AST SpaceMobile (NASDAQ:ASTS) stock is up 4% to $52.86 after the company said over the weekend that its next three BlueBird satellites had arrived at Cape Canaveral, Florida, ahead of launch. AST SpaceMobile stock remains down 27% year to date (YTD), despite the bounce.

Two other closely followed space names aren’t joining the rally. Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) stock is down 0.8% to $67.66, and Intuitive Machines (NASDAQ:LUNR) stock is down 0.5% to $13.13.

Broader space trading looks calmer, pointing to a company-specific story. The Procure Space ETF (NASDAQ:UFO) is up 0.2% to $42.05, and for a wider-market gauge, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is flat at $778.89.

BlueBird Arrivals and a Berenberg Call Fuel the Rebound BlueBirds 14, 15 and 16 are now at the Florida spaceport, marking the next step in AST SpaceMobile’s deployment plan, though no launch date has been announced. Each satellite is built to connect directly to unmodified smartphones, and the trio is set to join a constellation that already counts 13 spacecraft in orbit. AST SpaceMobile is targeting around 45 satellites in orbit by early 2027, a expansion that depends on a steady launch pace.

SpaceX (NASDAQ:SPCX) agreed last week to buy a nationwide low-band spectrum portfolio, a step that establishes it as a mobile carrier. Berenberg maintained its Buy rating on AST SpaceMobile after seller Grain Management agreed to the deal, which still requires Federal Communications Commission (FCC) approval. Analyst Michael Filatov of Berenberg argued that the purchase makes AST SpaceMobile more strategically relevant, since a SpaceX carrier push leaves it as the natural satellite partner for existing operators.

Carrier Partnerships Set AST SpaceMobile Apart AST SpaceMobile reaches customers through partnerships with existing mobile carriers such as Vodafone, Orange, Telefónica, Deutsche Telekom and Rakuten, which sell the service to their subscribers. That structure makes any carrier-focused move by SpaceX directly relevant to AST SpaceMobile stock.

Rocket Lab stock is down 3% YTD and Intuitive Machines stock is down 19% YTD, both smaller declines than AST SpaceMobile stock. The gap keeps the pressure on AST SpaceMobile to deliver on its launch plan.

All three names sit inside the Procure Space ETF, where AST SpaceMobile stock made up 4% of net assets as of July 31. Weightings of 3.6% for Rocket Lab and 1.3% for Intuitive Machines round out the trio, so one holding’s rally barely moves the fund.

What to Watch Next On the bull side, hardware is reaching the launch site while an analyst frames the SpaceX threat as a positioning advantage. The bear case carries weight too. No launch date exists, the spectrum sale still needs regulatory approval and only 13 satellites are in orbit, well short of the count continuous coverage requires.

A confirmed launch date for BlueBirds 14, 15 and 16 is worth watching, as it could turn a shipping update into an orbital milestone. Getting those satellites into orbit matters because AST SpaceMobile has planned beta services with select carrier partners for this year.

The FCC’s ruling on the Grain Management sale is worth monitoring, since that decision may shape how carriers weigh SpaceX against AST SpaceMobile. With launch timing and regulatory approval still unresolved, investors should keep their position sizes in AST SpaceMobile stock measured.

Contact [email protected] for any questions or corrections.

Oppenheimer analyst Jay Olson recently raised his price target on Viking Therapeutics (VKTX -0.93%) stock to $120 from $100 and maintained an outperform rating. Given that the stock price at the time of writing is merely $28.50, hitting the price target would represent a quadrupling in the share price. It's an exciting prospect, so here's some of the reasoning behind the bull case for the stock.

Wall Street divisions over Viking Therapeutics and VK2735 Before getting into the details of the bull case, it's worth noting that there's a wide range of opinions on the stock on Wall Street, and on its lead pipeline drug, VK2735, a GLP-1 and GIP agonist.

According to Visible Alpha's current price targets for the stock, analysts at Canaccord and Raymond James are just shy of Oppenheimer's target, an H.C. Wainwright analyst is at $102, and a further three analysts are in the $70 to $90 range.

A Goldman Sachs analyst, Richard Law, has the lowest target of $38 on the stock. This target is understood to emphasize that the second part of the maintenance trial (where oral maintenance doses of VK2735 will be tested) is more significant for the company than the recently completed first part. That first part only tested injectable VK2735 maintenance doses for 13 weeks after an initial injectable treatment over 21 weeks.

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The last point is a fair one, not least because the phase 2 data from the oral dosing trial were disappointing for safety and tolerability , with 20% of treated patients discontinuing treatment due to an adverse event. Since a major selling point of VK2735 is its potential to be used as a dual combination therapy (for example, rapid weight loss with an initial injectable treatment followed by a more convenient oral dose), it's fair to argue that the currently running, second part of the maintenance trial is more important. Results are due in 2027.

That said, Viking's management will have learned a lot from the phase 2 oral VK2735 trial (VENTURE-Oral). It will make adjustments (potentially reducing tablet size, titration aggressiveness, and dose size) in the phase 3 oral trial (beginning in the fourth quarter) and in the current maintenance trial.

Oppenheimer's price target hike When analysts model biotech companies, they typically estimate their drugs' peak sales, discount cash flows from those sales, and then multiply them by a "probability of success" (PoS) to produce an adjusted expected value. This is used to model the stock and create a price target.

Image source: Getty Images.

It follows that when a drug receives positive data from a trial, as Viking recently did with the maintenance trial, it's induced to raise the PoS and may raise the ceiling on peak sales due to a stronger belief in its commercial potential.

Indeed, Olson reportedly raised his estimate for PoS from 80% to 90% after the maintenance study's results. It's a high PoS, but not out of the ballpark of the Visible Alpha Wall Street consensus for VK2735's PoS of 76.5%.

Nevertheless, raising a PoS for VK2735 while nudging up sales estimates is a perfectly valid reason to raise the stock price target.

Why Viking Therapeutics investors have reason for optimism Furthermore, Wall Street estimates for VK2735 look reasonable. The consensus calls for unadjusted sales of $1.5 billion in 2030, rising to $6.5 billion in 2035. The most similar approved drug to VK2735 is Eli Lilly's (LLY +0.08%) tirzepatide (Mounjaro for diabetes and Zepbound for obesity, only available in injectable form), for which analysts expect about $80 billion in total sales (almost $52 billion for Mounjaro and $28.5 billion for Zepbound) in 2030.

Image source: Getty Images.

Since the phase 2 VK2735 subcutaneous trial (VENTURE) produced a mean weight loss of 14.7% at its maximum dose after just 13 weeks, compared to a phase 3 tirzepatide (SURMOUNT-1) trial that produced a mean weight loss of 20.9% at its maximum dose after 72 weeks, this suggests (but does not conclude) that VK2735 may generate a steeper velocity of weight loss.

If this hypothesis is confirmed in the phase 3 subcutaneous VK2735 trial, alongside good tolerability data over a long period, with good data from the second part of the maintenance trial, then investors have a strong reason to believe VK2735 can take market share from tirzepatide. $80 billion in 2030 is a very large number to take a small share from.

That outcome would justify Oppenheimer's optimism.

C3.Ai Inc. (NYSE:AI) shares are trading higher Monday after Northland upgraded the stock to Outperform from Market Perform and raised its price target to $16 from $10.

C3.Ai shares are climbing with conviction. Why is AI stock surging? Northland Says C3 Code Can Cut Agentic App Development From Months to DaysAccording to Investing.com, analyst Mike Latimore cited the company’s C3 Code platform as a new growth engine. He said it can reduce the time to create agentic AI applications to days from months and speeds up customer onboarding and expansion at existing customers. C3 Code lets users build and deploy applications using natural language, with autonomous agents handling the development work. It integrates with existing systems and builds on 15 years of C3 infrastructure work to keep applications reliable and secure.

C3.Ai also launched an Accelerator marketing program. The first event covered 110 people and 46 companies, and business and IT staff showed they could create enterprise-ready AI applications in a few days. The company has added three more Accelerator events. The upgrade also notes that C3.Ai’s founder and CEO rejoined the company in May, after challenges that included a reduction at a large customer, management changes and slower new customer additions about a year ago.

Recent Results and Other Analyst ViewsIn its first-quarter fiscal 2027 report, C3.Ai posted revenue of $52.4 million, down 25% from a year earlier. That was within its guidance range of $50.0 million to $54.0 million and slightly above the Street estimate of $52.1 million. Non-GAAP earnings per share were negative 20 cents, against the consensus estimate of negative 26 cents.

Other analysts have been more cautious. Yorkville Ives initiated coverage with an In Line rating and a $12.50 price target, noting that the fiscal 2026 reset is largely complete. Needham maintained a Hold rating, citing the revenue decline, and JMP Securities reiterated a Market Perform rating, citing concerns about revenue guidance.

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AI Price Action: At the time of publication, C3.Ai shares are trading 6.50% higher at $12.28, according to data from Benzinga Pro.

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Securing gigawatt-scale power assets is one of the biggest bottlenecks for global artificial intelligence (AI) infrastructure, and the market may be mispricing the solution. Advanced computing hardware no longer represents the main obstacle for major technology sector companies; instead, access to reliable sovereign energy has taken its place.

Applied Digital Today

$23.15 -0.53 (-2.25%)

As of 09:38 AM Eastern

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$19.00▼

$50.72$62.25

Data center operators are increasingly valued on secured forward capacity rather than trailing revenue. Applied Digital NASDAQ: APLD recently secured a site for a one-gigawatt AI campus in Finland, adding to a domestic portfolio that already includes billions in contracted revenue.

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By packaging the most difficult components of international infrastructure expansion, regulatory approval, utility access, and real estate, Applied Digital is transforming its portfolio into a turnkey hyperscaler target. This dynamic sets the stage for an upward repricing that could challenge outdated bearish positioning. Investors tracking the AI infrastructure space may want to look beyond current cash burn and evaluate the monetization cycle of secured megawatt capacity.

Overcoming the AI Power Grid BottleneckThe constraint on scaling artificial intelligence models is increasingly tied to access to electricity. While software companies command premium valuation multiples, the physical infrastructure supporting those models requires immense capital and years of permitting. Initial power availability at the Finland campus is expected in 2028.

The Nordic region provides established energy grids and a naturally cooler climate, which can reduce the cooling burden for high-density server racks. This geographical expansion fundamentally changes Applied Digital's long-term growth trajectory. Building a gigawatt AI Factory campus from the ground up gives global hyperscalers exactly what they lack: time and space. Tech conglomerates hold deep cash reserves but cannot instantly conjure grid-connected land.

Developing a site involves environmental studies, local zoning negotiations, and complex power purchase agreements. By securing the site now, Applied Digital bypasses the fiercest competition for stateside grid capacity and establishes a European stronghold. Operators with permitted, high-capacity land rights have a distinct structural advantage over developers just entering the procurement cycle.

Why Trailing Revenue Misses the Big AI PictureValuing infrastructure companies during a rapid scale-up phase requires looking past near-term margin compression. Applied Digital currently carries a market capitalization near $6.8 billion. Bears point to a debt-to-equity ratio of about 2.88 and negative net margins as signs of weakness. Those metrics tell an incomplete story.

The fiscal first-quarter 2027 earnings release revealed roughly $36 billion in contracted revenue over initial lease terms. A backlog of that magnitude significantly derisks the capital expenditures required to build out both domestic campuses and the new Finland site. First-quarter revenue grew about 322% year over year to roughly $342 million, showing the operational model scales effectively before factoring in the international pipeline.

The valuation can still appear steep when analyzed solely on trailing revenue. But as Applied Digital's contracted backlog converts to recognized income, forward valuation multiples compress rapidly. The market is pricing the stock based on today's construction costs rather than the guaranteed cash flows locked in by long-term tenant agreements.

Activating Domestic Megawatts Validates the ModelWhile the European expansion offers a long-term growth runway, domestic operations are monetizing power now. Before the Finland announcement, Applied Digital brought roughly 75 megawatts online at its Polaris Forge 1 facility. Combined with broader network activations totaling about 250 megawatts, Applied Digital is demonstrating its ability to turn secured land rights into revenue-generating critical IT load.

Delivering infrastructure on schedule is notoriously difficult because supply chain delays affect specialized components like transformers and switchgear. Consistently activating megawatt blocks builds confidence with institutional tenants. Hyperscalers require reliable partners. When an operator successfully navigates the physical buildout and powers up a facility, they transition from a speculative developer to a tier-one vendor. Securing around 1.41 gigawatts of leased domestic IT load validates Applied Digital's engineering capabilities and builds credibility for the upcoming Nordic development.

Institutional Buyers Front Run the Short TrapApplied Digital Stock Forecast Today12-Month Stock Price Forecast:
$62.25
162.88% Upside

Moderate Buy
Based on 19 Analyst Ratings

Current Price$23.68High Forecast$90.00Average Forecast$62.25Low Forecast$22.00Applied Digital Stock Forecast Details

A significant portion of the market remains skeptical. Short interest hovers around 21% of the float. Bearish traders appear focused on current cash burn and the execution risks associated with funding the European buildout. Short positioning relies heavily on the assumption that infrastructure operators will dilute shareholders to fund ongoing capital requirements.

This thesis ignores how modern data center financing works. Hyperscalers often offer substantial prepayments or enter joint ventures to secure capacity. As these non-dilutive funding structures materialize, the bear case breaks down.

Institutional money is already positioning for this shift. Call option volume spiked ahead of the recent corporate announcements, and funds like Two Seas Capital LP executed block purchases of shares just before the international expansion made headlines.

When Applied Digital holds billions in contracted backlog and continues to bring new capacity online, heavy short interest creates the potential for volatile covering events. Any announcement of a hyperscaler lease for the Finland site could force short sellers to exit their positions quickly, driving rapid price appreciation.

The Endgame for Turnkey Infrastructure OperatorsThe endgame for independent data center developers often leads to consolidation. Large technology firms require turnkey infrastructure to deploy accelerated computing hardware at scale. By navigating the utility and real estate acquisition phases in a stable European jurisdiction, Applied Digital has packaged the hardest parts of expansion into a single asset.

A valuation near $6.9 billion relative to an operational portfolio of 1.41 gigawatts, plus a 1-gigawatt international pipeline, creates a noticeable disconnect compared with recent private-market transactions in the infrastructure sector. Gigawatt-scale capacity inherently forces a valuation premium because the replacement cost, measured in both dollars and years, is exceptionally high.

Investors tracking the tech sector may want to monitor how quickly Applied Digital formalizes hyperscaler leases for the Finland site. Those with an appetite for volatility could watch future joint venture announcements that ease capital expenditure concerns. Cautious investors might prefer to wait and see how management structures the financing for the anticipated 2028 initial power availability before establishing a position.

Should You Invest $1,000 in Applied Digital Right Now?Before you consider Applied Digital, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Applied Digital wasn't on the list.

While Applied Digital currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

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Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.

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Bitmine owns 4.9% of the total ETH coin supply of 122.1 million

Bitmine is 99% of the way to the 'Alchemy of 5%' in just 15 months

Bitmine released Chairman's Message on October 7 titled "Crypto Bull Underway — This Cycle Likely the Largest"

Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026

Bitmine's Series A Preferred Stock is trading on the NYSE under the symbol BMNP

Bitmine has 5,067,309 staked ETH, representing $12.9 billion at $2,544 per ETH. MAVAN (Made in America VAlidator Network) is a premier Ethereum staking destination for BMNR and institutional investors

Bitmine owns $85 million of Eightco (NASDAQ: ORBS), now one of the only publicly listed equities in the world to provide investors indirect exposure to OpenAI

Bitmine Crypto + Total Cash Holdings & Marketable Securities + "Moonshots" total $16.2 billion, including 6.03 million ETH tokens, total cash & marketable securities of $612 million, and other crypto holdings

Bitmine remains supported by a premier group of institutional investors including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas "Tom" Lee to support Bitmine's goal of acquiring 5% of ETH

, /PRNewswire/ -- (NYSE: BMNR) Bitmine Immersion Technologies, Inc. ("Bitmine" or the "Company"), a Bitcoin and Ethereum Network company with a focus on the accumulation of crypto for long term investment, today announced Bitmine crypto + total cash & marketable securities + "moonshots" holdings totaling $16.2 billion.

First-year achievements

BMNP: Gains while bonds sink

CRYPTO CREDIT: ETH perpetuals

BITMINE: Outperformed ETH

Asset Performance vs S&P 500

BULL CYCLE: Key drivers

INHERITANCE: Accelerated pace

DATS: Reducing supply

STAKING: Over 5 million ETH

As of October 11, 2026 at 1:30pm ET, the Company's crypto holdings are comprised of 6,028,946 ETH at $2,544 per ETH (per CoinbaseNASDAQ: COIN), 214 Bitcoin (BTC), $180 million stake in Beast Industries, $85 million stake in Eightco Holdings (NASDAQ: ORBS) ("moonshots") and total cash & marketable securities of $612 million. Bitmine's ETH holdings are 4.9% of the ETH supply (of 122.1 million ETH).

On October 7, Bitmine released its latest Chairman's message titled "Crypto Bull Underway — This Cycle Likely the Largest." The presentation is available at the Bitmine website (presentation link).

"We believe Bitmine is positioned to outperform the crypto bull market that we expect to be coming, as the company has strengthened its competitive position over the past year in the midst of a crypto winter (bear market)," stated Thomas "Tom" Lee, Chairman of Bitmine.

"The accumulation of a majority of our 6 million ETH took place in the midst of a crypto bear market and with the Company nearing our 5% ETH accumulation target, we believe the company is attractively positioned ahead of the coming crypto bull," continued Lee.

Among the key strategic steps taken in the past year is the issuance of the Bitmine 9.5% Perpetual Preferred stock (BMNP) in June of this year. BMNP was issued at $80 and last closed at $99.53.

"BMNP, the Company's perpetual preferred stock, gained 24% since issuance outperforming fixed income as Treasuries (TLT) fell -8% in that same timeframe," continued Lee.

"BMNP has established a benchmark yield for ETH credit and at 9.56% is 256bp below that of comparable Bitcoin credit yield (STRC) and 515bp below that of comparable Solana yield (CHAD). This reflects the superior yield and stability characteristics of ETH, in my opinion," continued Lee.

"We believe that as crypto enters a cycle we expect to be a bull market, what is notable is Bitmine's share price outperformance of ETH during the bear market of 2025-2026. In the first 9 months of 2026, ETH declined 10% while BMNR was down by 3%, or outperformance of 731bp," stated Thomas "Tom" Lee, Chairman of Bitmine.

"The outperformance of ETH by 6,832bp relative to the S&P 500 in 3Q26 is notable considering the substantial macro headwinds that emerged in the quarter including a 'hawkish' Fed, surging oil, rise in global bond yields and general tightening of financial conditions. For the quarter, ETH outperformed by 6,832bp, dwarfing other macro assets," stated Lee.

"Owing to the following factors, we see the potential for this to be the largest ever crypto bull market. The drivers being: tokenization; wealth transfer; DATS absorbed supply; Crypto being an AI downstream story," continued Lee.

Vlad Tenev, CEO of Robinhood, recently stated on CNBC "$100 trillion of wealth transfer is underway" (interview link). Based upon data compiled by the IRS and Fundstrat, this wealth effect is estimated to total $1.5T to $2.0T between 2026-2028.

"The wealth transfer underway is expected to support the upcoming crypto bull market as those inheriting wealth are younger and likely have a higher risk appetite for crypto and equities. We expect this effect to be more pronounced in the bull market we expect to be upcoming compared to the prior 2019-2021 cycle as the wealth transfer is projected to be a much larger dollar value transfer compared to last cycle," stated Lee.

And further differentiating this upcoming bull cycle is that crypto Digital Asset Treasuries (DATS) have absorbed a larger share of crypto supply.

"DATS represent essentially permanent supply removed from the crypto market and this dynamic is favorable ahead of the upcoming crypto bull cycle, particularly compared to the prior 2019-2021 period, when DATS were not a factor," continued Lee.

"Over the past week, we acquired 12,532 ETH. Bitmine's track record of consistent buying of crypto is unmatched by any public company in the world. Bitmine has bought ETH each and every week since the inception of the ETH Treasury Strategy on June 30, 2025," stated Lee.

Earlier in 2026, Bitmine launched MAVAN (the Made in America VAlidator Network), the institutional-grade staking platform. While MAVAN was originally developed to support Bitmine's own Ethereum treasury, MAVAN has expanded to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure. A portion of Bitmine's ETH is already staked on the MAVAN platform.

As of October 11, 2026, Bitmine total staked ETH stands at 5,067,309 ($12.9 billion at $2,544 per ETH). "Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine's ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward would be $400 million on an annualized basis (using 2.61% 7-day BMNR yield). This compares to annualized staking revenues at $336 million based upon BMNR's 5.1 million currently staked ETH (84% of the 6.03 million ETH held by Bitmine)," continued Lee.

Bitmine's crypto holdings reign as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc., which reportedly owns 848,000 BTC valued at approximately $77 billion. Bitmine remains the largest ETH treasury in the world.

Bitmine management believes the GENIUS Act and the Securities and Exchange Commission's (SEC) Project Crypto are as transformational to financial services in 2026 as the U.S. action on August 15, 1971, which ended the Bretton Woods system and took the U.S. dollar off the gold standard 55 years ago. This 1971 event was the catalyst for the modernization of Wall Street, creating the iconic Wall Street titans and financial and payment rails of today.

The Chairman's message can be found here:
https://www.Bitminetech.io/chairmans-message

The Fiscal Full Year 2025 Earnings presentation and corporate presentation can be found here: https://Bitminetech.io/investor-relations/

To stay informed, please sign up at: https://Bitminetech.io/contact-us/

About Bitmine
Bitmine Immersion Technologies, Inc. (NYSE: BMNR), together with its subsidiaries ("Bitmine" or the "Company"), is a blockchain technology infrastructure company operating across institutional digital asset staking and validation services, bitcoin mining, and strategic digital asset management. As the world's leading Ethereum Treasury company, it implements an innovative digital asset strategy for institutional investors and public market participants. The Company provides institutional-grade staking and validation infrastructure—through which it earns staking rewards and validation income—alongside bitcoin mining activities. Bitmine holds digital assets strategically, generating yield on those holdings to support liquidity and capital formation. Since 2025, the Company has expanded its blockchain infrastructure capabilities, including developing and deploying MAVAN, its institutional staking and validation platform. The Company's activities further include investments in early-stage blockchain opportunities ("moonshot" investments) and ancillary mining, hosting, and consulting services.

For additional details, follow on X:
https://x.com/bitmnr
https://x.com/fundstrat

Cautionary Note on Forward Looking Statements 
This press release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include all statements that are not purely historical and can generally be identified by terms such as "expects," "projects," "intends," "plans," "believes," "anticipates," "estimates," "targets," "goal," "potential," "positioned," "likely," "may," "will," "would," "could," "should," "view," or similar expressions. This press release specifically contains forward-looking statements regarding: (i) the Company's goal of acquiring 5% of the total ETH supply (the "Alchemy of 5%" initiative); (ii) the Company's digital asset accumulation and treasury strategy, including statements regarding the expected pace, extent, and continuation of ETH acquisitions and management's statement that the Company is largely finished buying ETH; (iii) the Company's staking operations, including projected annualized ETH staking rewards of approximately $400 million at scale and projected annualized staking revenues of approximately $336 million, each of which is based on a 7-day trailing yield that may not be representative of future yields; (iv) MAVAN's expansion to serve institutional investors, custodians, and ecosystem partners; (v) management's beliefs regarding future crypto market conditions, including that a crypto bull market is underway or forthcoming, that it may be the largest crypto bull market ever, and the anticipated effects of tokenization, wealth transfer, digital asset treasury supply absorption, and artificial intelligence on crypto markets; (vi) management's beliefs that the Company is positioned to outperform in future market conditions and regarding the Company's competitive position; (vii) management's beliefs regarding the Company's Series A Perpetual Preferred Stock (BMNP), including its role as a benchmark for ETH credit yields and the yield and stability characteristics of ETH; (viii) estimates of future wealth transfer and its expected impact on demand for crypto and equities; (ix) management's belief that the GENIUS Act and SEC Project Crypto are or will be transformational to financial services; and (x) statements regarding the future value of the Company's crypto, cash, marketable securities, and "moonshot" holdings.

These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could cause or contribute to such differences include, but are not limited to: the extreme volatility and unpredictability of digital asset prices, including ETH and Bitcoin; the concentration of the Company's assets in ETH; the possibility that crypto markets do not enter a bull market, or that any such market is shorter or smaller than anticipated; the Company's reliance on third-party pricing sources, reported market values, and third-party data and estimates (including estimates of wealth transfer), which may fluctuate materially or prove inaccurate; uncertainty in the valuation of illiquid and privately held investments, including the Company's stake in Beast Industries; changes in market conditions affecting the trading price and volume of the Company's securities, including the Company's common stock and Series A Perpetual Preferred Stock, and the relationship between the trading price of the Company's securities and the value of its digital asset holdings; the Company's ability to pay dividends on its Series A Perpetual Preferred Stock; dilution resulting from future issuances of equity or equity-linked securities; changes in the Company's ETH acquisition plans, including any decision to slow, pause, or resume purchases; the Company's ability to successfully execute its digital asset acquisition strategy and achieve its ETH accumulation targets, including the "Alchemy of 5%" goal; the Company's ability to finance its business operations and MAVAN expansion; operational, security, and technological risks associated with the Company's staking and validation operations, including network failures, slashing events, cybersecurity breaches, and protocol changes; the risk that actual staking yields, rewards, and revenues differ materially from projected amounts, including because short-term trailing yields may not persist; competition in the digital asset treasury, staking, and mining industries, and the risk that digital asset treasury companies sell rather than hold their digital assets; the Company's dependence on key personnel; regulatory developments affecting digital assets, blockchain technology, and staking activities, including the implementation and interpretation of the GENIUS Act, SEC Project Crypto, and other pending legislation or regulatory initiatives; actions by the SEC, CFTC, and other regulatory bodies; risks related to the Company's "moonshot" investments, including in Eightco Holdings and Beast Industries; macroeconomic factors, including inflation, interest rates, monetary policy, oil prices, and general economic conditions; changes to the Ethereum protocol; the performance of third-party service providers, exchanges, custodians, and staking partners; and the other risk factors described in the Company's filings with the SEC.

The forward-looking statements contained in this press release are based on information available to management as of the date of this release and reflect management's current expectations, estimates, and beliefs concerning future events. Actual results may vary materially from those expressed or implied based on the factors described above and in the Risk Factors section of the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025 filed with the SEC on November 21, 2025, the Company's Quarterly Reports on Form 10-Q, and the Company's other filings with the SEC, as amended or updated from time to time. Copies of these filings are available at www.sec.gov and at https://Bitminetech.io/investor-relations/. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Bitmine expressly disclaims any obligation to update or revise any forward-looking statements except as required by applicable law.

SOURCE Bitmine Immersion Technologies, Inc.

Cerebras Systems Inc. (NASDAQ:CBRS) has had a busy stretch that included a sell-off on reports about the hardware behind OpenAI’s newest model and a rebound after OpenAI CEO Sam Altman called the chipmaker a "close partner."

Cerebras shares are approaching critical lows. Why did CBRS hit a new low? Shares Fall on a Report That OpenAI’s Fastest Tier Runs on Nvidia ChipsOn September 30, shares traded lower after SemiAnalysis reported that OpenAI’s GPT-6.1 Sol Ultrafast tier is running on Nvidia GPUs instead of Cerebras hardware. Cerebras had powered the Ultrafast tier for the previous version, GPT-5.6 Sol, at up to 750 tokens per second starting in August. Neither OpenAI nor Cerebras has confirmed what hardware serves the new tier. Shares closed Friday at $166.43, below Cerebras’ $185 IPO price.

Altman Calls Cerebras a "Close Partner" and Shares ReboundLate Friday, Oct. 2, Altman posted on X: "There is some speculation about our partnership with Cerebras. Cerebras is a close partner, and we have a deep engagement pushing on the frontiers of speed." The post did not say which chips run GPT-6.1 Sol Ultrafast. Shares rose about 9% on Monday, Oct. 5. Barclays analyst Tom O’Malley said OpenAI’s relationship with Cerebras "remains strong," according to Investing.com.

Read Next

Cerebras Shares Edge LowerCBRS Price Action: At the time of publication, Cerebras shares are trading 1.56% lower at $161.61, according to data from Benzinga Pro.

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Apple beat earnings eight times in a row and the stock still fell after every single report. With the shares trading above Wall Street's consensus target and memory costs hitting once-in-a-century levels, something has to give heading into October 29.

Apple (NASDAQ:AAPL | AAPL Price Prediction) trades at $336.64. The stock is pricing in a near-flawless year just as Apple heads into its fiscal fourth-quarter report.

Apple makes the iPhone, Mac, iPad and wearables for an installed base of more than 2.5 billion active devices, and it earns more from that base through Services. The iPhone 17 cycle, steady double-digit revenue growth and excitement over Siri AI have lifted the stock 24.17% year to date. Reports of iPhone 18 Pro component order cuts knocked it down 1.11% in the latest session.

Record Demand and Siri AI Fuel the Bull Case Fiscal third-quarter revenue rose 16.4% to $109.42 billion. EPS of $2.02 exceeded the $1.89 consensus. iPhone revenue grew 22% and Mac grew 29%. Demand ran ahead of supply, and management said “the iPhone and the Mac are both doing remarkably better than we thought they would do.”

Consensus calls for fiscal 2027 EPS of $9.5758, up from $8.8202. Possible drivers include Siri AI, paid iCloud Plus upgrades, the Apple Upgrade leasing program and a $100 billion buyback authorization.

Memory Costs and Supply Limits Threaten a Premium Multiple Apple’s trailing earnings multiple is 39, with a PEG ratio of 2.706, even as guidance calls for growth to slow to 9% to 11%. Tariff refunds added about two percentage points to the 50.1% gross margin and 11 cents to EPS. September-quarter guidance of 47% to 48% also leans on refunds, while management described memory pricing as a “100-year flood”.

Analysts made 14 downward revisions to fiscal fourth-quarter EPS over the past 30 days, against 7 upward ones. Management also expects supply constraints to increase significantly.

Strong Execution Meets a Fully Priced Stock Record installed-base and Services numbers bolster the bullish view. Margins that depend on one-time refunds and earnings estimates that keep getting cut support the bear case. Four signals would settle the question: December-quarter guidance against the $2.9059 EPS consensus, gross margin excluding refunds, supply commentary and Siri AI approvals in the EU and China.

Apple Has Outrun Both the S&P 500 and Its Price Targets Apple has gained 33.01% over the past year, against 16% for the S&P 500. Year to date, it is up 24.17%, compared with 14.17% for the index. The average price target of $328.09 implies about 2.5% downside. This target shows the stock has run ahead of Wall Street. Ratings from 44 analysts break down as follows:

Strong Buy: 6 Buy: 19 Hold: 13 Sell: 3 Strong Sell: 3 What Apple Must Prove in Its Fiscal Q4 Report At $336.64, Apple’s valuation leaves little room for error.

Beating estimates has failed to lift the stock. Apple beat in all of its last 8 reports, yet the stock moved an average of -1.53% on earnings day. Last quarter it fell 7.35% despite a 6.8% surprise. With the stock near its $345.34 52-week high, another solid quarter faces a high bar.

The outlook would improve if management guides for a strong holiday quarter and shows gross margin holding without refund support. It would weaken if memory costs push margins below guidance or the iPhone 18 Pro reports point to weaker demand.

The stock already sits above its consensus target. Apple remains an excellent business, and the next test is proof that margins can hold without one-time help.

Contact [email protected] for any questions or corrections.

Wall Street's analyst community has reached something close to a verdict on Amazon, and the bears are nowhere to be found. But the real question is whether AWS's $496 billion backlog and surging AI revenue can overcome a troubling free…

Our 24/7 Wall St. price target for Amazon (NASDAQ:AMZN | AMZN Price Prediction) is $332.03. From a current price of $258.72, that works out to 28.33% upside. Our model rates the stock a buy, and we hold that view with moderate-to-high confidence.

24/7 Wall St. Price Target Summary Metric Value Current Price $258.72 24/7 Wall St. Price Target $332.03 Upside/Downside 28.33% Recommendation BUY Confidence Level 70% Wall Street is close to unanimous here. Analysts have 15 Strong Buy and 43 Buy ratings on the stock, against 2 Holds and zero Sells. Needham’s Laura Martin made the case for owning Amazon on CNBC this week (CNBC).

AWS Acceleration Keeps Amazon Within 10% of Its High The stock has risen 3.66% over the past week and is flat over the past month at -0.1%. It is up 11.89% year to date. Shares sit 9.9% below the 52-week high of $287.20 and 32% above the low of $196.

Second-quarter revenue came in at $200.61 billion, up 19.62% and ahead of the $196.43 billion estimate. GAAP EPS of $5.75 got a large lift from Anthropic investment gains. Comparable EPS of $1.88 still beat the $1.83 consensus. AWS grew 37% with a 39.4% operating margin.

Why Bulls See $382.91 on the Table AWS backlog stands at $496 billion, and management says the “lion’s share of capacity in 27…is largely reserved.” The AI and chips businesses each run above $25 billion annualized. Advertising grew 26%.

CEO Andy Jassy thinks AWS could become “a trillion dollar annual revenue business for us in time.” If those trends compound, our bull case makes $382.91, a 48% return.

Capex and Earnings Quality Are the Risks to Watch Amazon plans about $200 billion in 2026 capex, and trailing free cash flow has turned negative at -$7.6 billion. Third-quarter guidance calls for only 9% to 12% sales growth. Management has offered counterpoints.

Prime Day moved into Q2, and excluding that shift, Q3 growth would be “nearly 400 basis points higher.” Most AI capacity is also signed for “at least five-year terms.” Our bear case sits at $285.34.

Amazon Trades Between Its Cloud and Retail Rivals Microsoft (NASDAQ:MSFT) competes with AWS through Azure, which grew 43%. It trades at 29x earnings with far higher margins.

Alphabet (NASDAQ:GOOGL) competes with Amazon in both cloud and ads. Google Cloud grew 82%, though Alphabet’s 16x multiple is flattered by equity gains.

Walmart (NASDAQ:WMT) is Amazon’s closest retail rival. Its eCommerce sales grew 23%, yet it trades at 39x earnings on thinner margins.

Company Trailing P/E Operating Margin Amazon 36x 11.16% Microsoft 29x 46.78% Alphabet 16x 32.06% Walmart 39x 4.18% Amazon trades below Walmart and above its cloud rivals. With AWS margins expanding, the 24/7 Wall St. price target looks reasonable next to this group.

Amazon Price Prediction 2026-2030 Our 24/7 Wall St. price target of $332.03 comes with a buy rating and 70% confidence. What tips the scale is AWS growth speeding up even as the business gets bigger.

The case strengthens if AWS stays above 30% growth and the reserved capacity turns into revenue. It weakens if free cash flow continues falling after 2027. On balance, the reward outweighs the risk.

Looking further out, here is where our model projects Amazon could trade at each year-end, assuming current growth trends hold.

Year 24/7 Wall St. Price Target 2026 $274.63 2027 $348.17 2028 $416.92 2029 $463.32 2030 $503.44 These projections assume Amazon keeps executing on its current strategy. The returns on its AI infrastructure spending could push the result well above or below this path.

Contact [email protected] for any questions or corrections.

SSI Investment Management LLC purchased a new stake in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,643 shares of the software giant’s stock, valued at approximately $2,478,000.

A number of other large investors have also recently bought and sold shares of MSFT. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Microsoft by 4.0% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 229,490 shares of the software giant’s stock valued at $85,604,000 after acquiring an additional 8,773 shares during the period. Markel Group Inc. boosted its stake in Microsoft by 0.4% during the first quarter. Markel Group Inc. now owns 537,630 shares of the software giant’s stock worth $199,014,000 after acquiring an additional 1,950 shares in the last quarter. Bessemer Group Inc. grew its holdings in Microsoft by 8.4% in the first quarter. Bessemer Group Inc. now owns 6,921,677 shares of the software giant’s stock worth $2,562,197,000 after purchasing an additional 537,634 shares during the period. Taylor Securities Services Inc. acquired a new stake in Microsoft in the fourth quarter worth $2,616,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Microsoft by 138.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,356,359 shares of the software giant’s stock valued at $502,077,000 after purchasing an additional 788,297 shares in the last quarter. 71.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets In other news, CEO Judson Althoff sold 10,000 shares of Microsoft stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $487.89, for a total transaction of $4,878,900.00. Following the completion of the sale, the chief executive officer owned 100,447 shares in the company, valued at approximately $49,007,086.83. This trade represents a 9.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Amy Hood sold 41,674 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $498.27, for a total value of $20,764,903.98. Following the transaction, the executive vice president directly owned 533,624 shares of the company’s stock, valued at $265,888,830.48. The trade was a 7.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 143,009 shares of company stock worth $71,420,699. 0.03% of the stock is currently owned by insiders.

Analyst Ratings Changes MSFT has been the topic of a number of research reports. Argus dropped their price target on Microsoft from $620.00 to $510.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Microsoft in a research report on Thursday, September 10th. Melius Research set a $665.00 price objective on Microsoft and gave the stock a “buy” rating in a research report on Monday, October 5th. Phillip Securities cut shares of Microsoft from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, August 3rd. Finally, Bank of America upped their price target on Microsoft from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Forty-two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $578.73. View Our Latest Report on MSFT

Microsoft Stock Performance Shares of MSFT stock opened at $535.07 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.23. Microsoft Corporation has a 52-week low of $349.20 and a 52-week high of $553.72. The company has a market capitalization of $3.97 trillion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. The business’s fifty day moving average is $501.15 and its 200 day moving average is $435.10.

Microsoft (NASDAQ:MSFT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The software giant reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.50. Microsoft had a return on equity of 31.98% and a net margin of 40.31%. The company had revenue of $90.01 billion during the quarter, compared to analyst estimates of $87.62 billion. During the same quarter last year, the company earned $3.65 earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities research analysts anticipate that Microsoft Corporation will post 19.65 EPS for the current fiscal year.

Microsoft Increases Dividend The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 19th. This is an increase from Microsoft’s previous quarterly dividend of $0.91. Microsoft’s payout ratio is 20.27%.

Key Headlines Impacting Microsoft Here are the key news stories impacting Microsoft this week:

Positive Sentiment: Microsoft introduced Microsoft-Decision-1, an AI model it says makes decisions substantially faster than GPT-6 Sol. The launch reinforces Microsoft’s competitive position in enterprise AI and could support demand for Azure and Copilot services. Microsoft launches Microsoft-Decision-1 Positive Sentiment: Analyst and investor commentary remains bullish on Microsoft’s AI stack, Azure acceleration, Copilot adoption and a large reported backlog. Wells Fargo reportedly raised its price target to $725, while Morgan Stanley reaffirmed a Buy rating with a $600 target. Morgan Stanley rating Positive Sentiment: Microsoft is attempting to revive Windows and expand on-device AI with new Nvidia-powered Surface hardware, including the premium Surface Laptop Ultra. Local AI processing could strengthen the Windows ecosystem and stimulate higher-value PC sales. Surface Laptop Ultra Positive Sentiment: The company is nearing a $4 trillion market capitalization after a strong earnings beat, with revenue and earnings growth continuing to support the recent rally. The next major test is Microsoft’s expected October 28 earnings report. Microsoft approaches $4 trillion valuation Neutral Sentiment: Microsoft’s new Xbox division, focused on film, television, events and theme parks, could expand the reach of its gaming franchises, although the strategy is unlikely to materially affect near-term financial results. Microsoft forms new Xbox unit Negative Sentiment: The U.S. suspension of Microsoft’s PERM green-card sponsorship program creates hiring and retention uncertainty, particularly for specialized AI and engineering workers. Investors are weighing potential compliance costs and the risk of an “AI brain drain.” U.S. suspends Microsoft green-card program Negative Sentiment: Italy launched an EU-backed antitrust investigation into Microsoft-owned game companies over virtual currencies, adding regulatory risk to the gaming business. Italy gaming investigation Microsoft Profile (Free Report)

Microsoft Corporation is a global technology company that develops software, cloud services, devices, gaming products and business solutions. Founded in 1975 by Bill Gates and Paul Allen, the company is best known for the Windows operating system and Microsoft Office productivity software. Microsoft is headquartered in Redmond, Washington, and serves consumers, businesses, governments and educational institutions worldwide.

Microsoft’s productivity and business offerings include Microsoft 365 applications such as Word, Excel, PowerPoint and Outlook, along with collaboration tools including Teams.

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Strategic Advisory Partners LLC bought a new stake in Microsoft Corporation (NASDAQ:MSFT – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 1,712 shares of the software giant’s stock, valued at approximately $639,000. Microsoft makes up approximately 0.5% of Strategic Advisory Partners LLC’s portfolio, making the stock its 14th biggest holding.

Several other institutional investors also recently bought and sold shares of MSFT. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Microsoft by 4.0% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 229,490 shares of the software giant’s stock valued at $85,604,000 after purchasing an additional 8,773 shares during the period. Markel Group Inc. grew its stake in Microsoft by 0.4% during the 1st quarter. Markel Group Inc. now owns 537,630 shares of the software giant’s stock worth $199,014,000 after purchasing an additional 1,950 shares in the last quarter. Bessemer Group Inc. increased its holdings in Microsoft by 8.4% during the 1st quarter. Bessemer Group Inc. now owns 6,921,677 shares of the software giant’s stock worth $2,562,197,000 after purchasing an additional 537,634 shares during the period. Taylor Securities Services Inc. purchased a new stake in Microsoft during the 4th quarter worth about $2,616,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Microsoft by 138.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,356,359 shares of the software giant’s stock valued at $502,077,000 after purchasing an additional 788,297 shares in the last quarter. 71.13% of the stock is owned by institutional investors and hedge funds.

Microsoft Stock Performance Shares of Microsoft stock opened at $535.07 on Monday. Microsoft Corporation has a 1 year low of $349.20 and a 1 year high of $553.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.23. The company has a market capitalization of $3.97 trillion, a P/E ratio of 29.79, a PEG ratio of 1.72 and a beta of 1.10. The company’s fifty day moving average is $501.15 and its two-hundred day moving average is $435.10.

Microsoft (NASDAQ:MSFT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The software giant reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.50. Microsoft had a net margin of 40.31% and a return on equity of 31.98%. The company had revenue of $90.01 billion for the quarter, compared to analyst estimates of $87.62 billion. During the same period in the previous year, the business posted $3.65 earnings per share. Microsoft’s quarterly revenue was up 17.7% on a year-over-year basis. Analysts forecast that Microsoft Corporation will post 19.65 earnings per share for the current year. Microsoft Increases Dividend The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a dividend of $0.98 per share. This is an increase from Microsoft’s previous quarterly dividend of $0.91. This represents a $3.92 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 19th. Microsoft’s dividend payout ratio is 20.27%.

Key Headlines Impacting Microsoft Here are the key news stories impacting Microsoft this week:

Positive Sentiment: Microsoft introduced Microsoft-Decision-1, an AI model it says makes decisions substantially faster than GPT-6 Sol. The launch reinforces Microsoft’s competitive position in enterprise AI and could support demand for Azure and Copilot services. Microsoft launches Microsoft-Decision-1 Positive Sentiment: Analyst and investor commentary remains bullish on Microsoft’s AI stack, Azure acceleration, Copilot adoption and a large reported backlog. Wells Fargo reportedly raised its price target to $725, while Morgan Stanley reaffirmed a Buy rating with a $600 target. Morgan Stanley rating Positive Sentiment: Microsoft is attempting to revive Windows and expand on-device AI with new Nvidia-powered Surface hardware, including the premium Surface Laptop Ultra. Local AI processing could strengthen the Windows ecosystem and stimulate higher-value PC sales. Surface Laptop Ultra Positive Sentiment: The company is nearing a $4 trillion market capitalization after a strong earnings beat, with revenue and earnings growth continuing to support the recent rally. The next major test is Microsoft’s expected October 28 earnings report. Microsoft approaches $4 trillion valuation Neutral Sentiment: Microsoft’s new Xbox division, focused on film, television, events and theme parks, could expand the reach of its gaming franchises, although the strategy is unlikely to materially affect near-term financial results. Microsoft forms new Xbox unit Negative Sentiment: The U.S. suspension of Microsoft’s PERM green-card sponsorship program creates hiring and retention uncertainty, particularly for specialized AI and engineering workers. Investors are weighing potential compliance costs and the risk of an “AI brain drain.” U.S. suspends Microsoft green-card program Negative Sentiment: Italy launched an EU-backed antitrust investigation into Microsoft-owned game companies over virtual currencies, adding regulatory risk to the gaming business. Italy gaming investigation Wall Street Analysts Forecast Growth MSFT has been the subject of several recent research reports. Barclays decreased their price objective on Microsoft from $545.00 to $512.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Rothschild & Co Redburn set a $440.00 target price on shares of Microsoft in a research note on Monday, September 21st. Wolfe Research lowered shares of Microsoft from an “outperform” rating to a “hold” rating in a research note on Wednesday, September 23rd. Piper Sandler raised their target price on shares of Microsoft from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Wednesday, September 30th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $550.00 target price on shares of Microsoft in a report on Thursday, July 30th. Forty-two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Microsoft currently has an average rating of “Moderate Buy” and a consensus price target of $578.73.

Get Our Latest Research Report on Microsoft

Insider Buying and Selling In related news, EVP Takeshi Numoto sold 4,810 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $496.48, for a total value of $2,388,068.80. Following the transaction, the executive vice president owned 42,677 shares in the company, valued at $21,188,276.96. The trade was a 10.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Amy Hood sold 41,674 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $498.27, for a total value of $20,764,903.98. Following the completion of the transaction, the executive vice president owned 533,624 shares in the company, valued at $265,888,830.48. This trade represents a 7.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 143,009 shares of company stock worth $71,420,699. Corporate insiders own 0.03% of the company’s stock.

Microsoft Profile (Free Report)

Microsoft Corporation is a global technology company that develops software, cloud services, devices, gaming products and business solutions. Founded in 1975 by Bill Gates and Paul Allen, the company is best known for the Windows operating system and Microsoft Office productivity software. Microsoft is headquartered in Redmond, Washington, and serves consumers, businesses, governments and educational institutions worldwide.

Microsoft’s productivity and business offerings include Microsoft 365 applications such as Word, Excel, PowerPoint and Outlook, along with collaboration tools including Teams.

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United Bank bought a new position in Microsoft Corporation (NASDAQ:MSFT – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 23,689 shares of the software giant’s stock, valued at approximately $8,836,000. Microsoft makes up 2.7% of United Bank’s portfolio, making the stock its 10th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Auto Owners Insurance Co boosted its stake in shares of Microsoft by 56,160.8% in the 4th quarter. Auto Owners Insurance Co now owns 60,116,384 shares of the software giant’s stock valued at $29,073,486,000 after purchasing an additional 60,009,531 shares in the last quarter. Amundi grew its holdings in shares of Microsoft by 30.8% during the 1st quarter. Amundi now owns 41,675,076 shares of the software giant’s stock valued at $15,426,862,000 after purchasing an additional 9,814,598 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Microsoft by 10.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 29,323,744 shares of the software giant’s stock worth $10,852,884,000 after purchasing an additional 2,784,809 shares during the period. Hsbc Holdings PLC raised its position in Microsoft by 7.8% in the 4th quarter. Hsbc Holdings PLC now owns 22,138,798 shares of the software giant’s stock worth $10,715,379,000 after purchasing an additional 1,599,412 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Microsoft by 64.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 24,264,779 shares of the software giant’s stock worth $8,982,083,000 after purchasing an additional 9,493,778 shares during the last quarter. Hedge funds and other institutional investors own 71.13% of the company’s stock.

Microsoft News Summary Here are the key news stories impacting Microsoft this week:

Positive Sentiment: Microsoft introduced Microsoft-Decision-1, an AI model it says makes decisions substantially faster than GPT-6 Sol. The launch reinforces Microsoft’s competitive position in enterprise AI and could support demand for Azure and Copilot services. Microsoft launches Microsoft-Decision-1 Positive Sentiment: Analyst and investor commentary remains bullish on Microsoft’s AI stack, Azure acceleration, Copilot adoption and a large reported backlog. Wells Fargo reportedly raised its price target to $725, while Morgan Stanley reaffirmed a Buy rating with a $600 target. Morgan Stanley rating Positive Sentiment: Microsoft is attempting to revive Windows and expand on-device AI with new Nvidia-powered Surface hardware, including the premium Surface Laptop Ultra. Local AI processing could strengthen the Windows ecosystem and stimulate higher-value PC sales. Surface Laptop Ultra Positive Sentiment: The company is nearing a $4 trillion market capitalization after a strong earnings beat, with revenue and earnings growth continuing to support the recent rally. The next major test is Microsoft’s expected October 28 earnings report. Microsoft approaches $4 trillion valuation Neutral Sentiment: Microsoft’s new Xbox division, focused on film, television, events and theme parks, could expand the reach of its gaming franchises, although the strategy is unlikely to materially affect near-term financial results. Microsoft forms new Xbox unit Negative Sentiment: The U.S. suspension of Microsoft’s PERM green-card sponsorship program creates hiring and retention uncertainty, particularly for specialized AI and engineering workers. Investors are weighing potential compliance costs and the risk of an “AI brain drain.” U.S. suspends Microsoft green-card program Negative Sentiment: Italy launched an EU-backed antitrust investigation into Microsoft-owned game companies over virtual currencies, adding regulatory risk to the gaming business. Italy gaming investigation Insiders Place Their Bets In related news, EVP Amy Hood sold 41,674 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $498.27, for a total value of $20,764,903.98. Following the completion of the sale, the executive vice president owned 533,624 shares of the company’s stock, valued at $265,888,830.48. This trade represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Takeshi Numoto sold 4,810 shares of Microsoft stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $496.48, for a total transaction of $2,388,068.80. Following the completion of the sale, the executive vice president owned 42,677 shares in the company, valued at approximately $21,188,276.96. This trade represents a 10.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 143,009 shares of company stock valued at $71,420,699 over the last three months. 0.03% of the stock is currently owned by corporate insiders. Microsoft Price Performance Shares of NASDAQ:MSFT opened at $535.07 on Monday. Microsoft Corporation has a 1 year low of $349.20 and a 1 year high of $553.72. The company has a market cap of $3.97 trillion, a PE ratio of 29.79, a P/E/G ratio of 1.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.23 and a quick ratio of 1.22. The stock’s 50-day moving average is $501.15 and its 200 day moving average is $435.10.

Microsoft (NASDAQ:MSFT – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The software giant reported $4.74 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.50. Microsoft had a return on equity of 31.98% and a net margin of 40.31%. The business had revenue of $90.01 billion during the quarter, compared to analyst estimates of $87.62 billion. During the same quarter in the prior year, the company posted $3.65 EPS. Microsoft’s quarterly revenue was up 17.7% compared to the same quarter last year. Sell-side analysts anticipate that Microsoft Corporation will post 19.65 EPS for the current year.

Microsoft Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 0.7%. This is a boost from Microsoft’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Thursday, November 19th. Microsoft’s payout ratio is presently 20.27%.

Analysts Set New Price Targets A number of brokerages have recently issued reports on MSFT. Barclays reduced their price objective on Microsoft from $545.00 to $512.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Citigroup upgraded Microsoft from a “market outperform” rating to a “buy” rating in a report on Monday, October 5th. Tigress Financial boosted their target price on Microsoft from $680.00 to $690.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Melius Research set a $665.00 target price on Microsoft and gave the company a “buy” rating in a report on Monday, October 5th. Finally, BNP Paribas Exane cut Microsoft from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Forty-two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and an average target price of $578.73.

Read Our Latest Analysis on MSFT

Microsoft Profile (Free Report)

Microsoft Corporation is a global technology company that develops software, cloud services, devices, gaming products and business solutions. Founded in 1975 by Bill Gates and Paul Allen, the company is best known for the Windows operating system and Microsoft Office productivity software. Microsoft is headquartered in Redmond, Washington, and serves consumers, businesses, governments and educational institutions worldwide.

Microsoft’s productivity and business offerings include Microsoft 365 applications such as Word, Excel, PowerPoint and Outlook, along with collaboration tools including Teams.

Featured Articles Five stocks we like better than Microsoft 3 Stocks Chopped in Half: Why These Drops May Be Structural, Not a Dip Home Depot and Lowe’s Hit 52-Week Lows—But Analysts Aren’t Giving Up Utilities Are Bouncing Back—These 2 Giants Could Signal the Next Big Sector Rally Q3 Earnings Could Blow Past Consensus—Be Ready for What Comes Next

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Uptick Partners LLC purchased a new position in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,084 shares of the software giant’s stock, valued at approximately $7,119,000. Microsoft makes up about 1.1% of Uptick Partners LLC’s investment portfolio, making the stock its 17th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of MSFT. Auto Owners Insurance Co lifted its stake in Microsoft by 56,160.8% during the 4th quarter. Auto Owners Insurance Co now owns 60,116,384 shares of the software giant’s stock worth $29,073,486,000 after acquiring an additional 60,009,531 shares in the last quarter. Corient Private Wealth LLC grew its position in Microsoft by 234.5% in the 4th quarter. Corient Private Wealth LLC now owns 17,822,280 shares of the software giant’s stock valued at $8,619,211,000 after acquiring an additional 12,493,786 shares in the last quarter. Amundi increased its stake in Microsoft by 30.8% during the first quarter. Amundi now owns 41,675,076 shares of the software giant’s stock worth $15,426,862,000 after purchasing an additional 9,814,598 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Microsoft by 64.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 24,264,779 shares of the software giant’s stock worth $8,982,083,000 after purchasing an additional 9,493,778 shares during the period. Finally, Diamant Asset Management Inc. lifted its position in shares of Microsoft by 38,442.1% during the first quarter. Diamant Asset Management Inc. now owns 6,810,388 shares of the software giant’s stock worth $2,521,001,000 after purchasing an additional 6,792,718 shares in the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes Several research firms have recently commented on MSFT. Rothschild & Co Redburn set a $440.00 price objective on shares of Microsoft in a research note on Monday, September 21st. KeyCorp reaffirmed an “overweight” rating on shares of Microsoft in a research note on Thursday, September 3rd. Bank of America increased their target price on shares of Microsoft from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. Oppenheimer raised their price target on shares of Microsoft from $515.00 to $570.00 and gave the company an “outperform” rating in a research report on Tuesday, September 22nd. Finally, Benchmark restated a “buy” rating on shares of Microsoft in a research note on Friday, July 24th. Forty-two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Microsoft has an average rating of “Moderate Buy” and a consensus target price of $578.73.

Read Our Latest Analysis on MSFT Microsoft Price Performance MSFT stock opened at $535.07 on Monday. The company’s 50 day moving average price is $501.15 and its 200 day moving average price is $435.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.23. Microsoft Corporation has a fifty-two week low of $349.20 and a fifty-two week high of $553.72. The firm has a market capitalization of $3.97 trillion, a price-to-earnings ratio of 29.79, a PEG ratio of 1.72 and a beta of 1.10.

Microsoft (NASDAQ:MSFT – Get Free Report) last issued its earnings results on Wednesday, July 29th. The software giant reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.50. Microsoft had a net margin of 40.31% and a return on equity of 31.98%. The firm had revenue of $90.01 billion for the quarter, compared to analysts’ expectations of $87.62 billion. During the same quarter last year, the company earned $3.65 earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that Microsoft Corporation will post 19.65 EPS for the current fiscal year.

Microsoft Increases Dividend The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be given a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Microsoft’s previous quarterly dividend of $0.91. Microsoft’s payout ratio is currently 20.27%.

Microsoft News Roundup Here are the key news stories impacting Microsoft this week:

Positive Sentiment: Microsoft introduced Microsoft-Decision-1, an AI model it says makes decisions substantially faster than GPT-6 Sol. The launch reinforces Microsoft’s competitive position in enterprise AI and could support demand for Azure and Copilot services. Microsoft launches Microsoft-Decision-1 Positive Sentiment: Analyst and investor commentary remains bullish on Microsoft’s AI stack, Azure acceleration, Copilot adoption and a large reported backlog. Wells Fargo reportedly raised its price target to $725, while Morgan Stanley reaffirmed a Buy rating with a $600 target. Morgan Stanley rating Positive Sentiment: Microsoft is attempting to revive Windows and expand on-device AI with new Nvidia-powered Surface hardware, including the premium Surface Laptop Ultra. Local AI processing could strengthen the Windows ecosystem and stimulate higher-value PC sales. Surface Laptop Ultra Positive Sentiment: The company is nearing a $4 trillion market capitalization after a strong earnings beat, with revenue and earnings growth continuing to support the recent rally. The next major test is Microsoft’s expected October 28 earnings report. Microsoft approaches $4 trillion valuation Neutral Sentiment: Microsoft’s new Xbox division, focused on film, television, events and theme parks, could expand the reach of its gaming franchises, although the strategy is unlikely to materially affect near-term financial results. Microsoft forms new Xbox unit Negative Sentiment: The U.S. suspension of Microsoft’s PERM green-card sponsorship program creates hiring and retention uncertainty, particularly for specialized AI and engineering workers. Investors are weighing potential compliance costs and the risk of an “AI brain drain.” U.S. suspends Microsoft green-card program Negative Sentiment: Italy launched an EU-backed antitrust investigation into Microsoft-owned game companies over virtual currencies, adding regulatory risk to the gaming business. Italy gaming investigation Insider Activity In other news, EVP Amy Hood sold 41,674 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $498.27, for a total value of $20,764,903.98. Following the sale, the executive vice president directly owned 533,624 shares in the company, valued at approximately $265,888,830.48. This trade represents a 7.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Takeshi Numoto sold 4,810 shares of Microsoft stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $496.48, for a total transaction of $2,388,068.80. Following the sale, the executive vice president directly owned 42,677 shares of the company’s stock, valued at approximately $21,188,276.96. This trade represents a 10.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 143,009 shares of company stock valued at $71,420,699. 0.03% of the stock is currently owned by company insiders.

Microsoft Company Profile (Free Report)

Microsoft Corporation is a global technology company that develops software, cloud services, devices, gaming products and business solutions. Founded in 1975 by Bill Gates and Paul Allen, the company is best known for the Windows operating system and Microsoft Office productivity software. Microsoft is headquartered in Redmond, Washington, and serves consumers, businesses, governments and educational institutions worldwide.

Microsoft’s productivity and business offerings include Microsoft 365 applications such as Word, Excel, PowerPoint and Outlook, along with collaboration tools including Teams.

Featured Articles Five stocks we like better than Microsoft 3 Stocks Chopped in Half: Why These Drops May Be Structural, Not a Dip Home Depot and Lowe’s Hit 52-Week Lows—But Analysts Aren’t Giving Up Utilities Are Bouncing Back—These 2 Giants Could Signal the Next Big Sector Rally Q3 Earnings Could Blow Past Consensus—Be Ready for What Comes Next

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Waverly Advisors LLC boosted its holdings in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,443,734 shares of the computer hardware maker’s stock after acquiring an additional 115,316 shares during the quarter. NVIDIA comprises approximately 1.7% of Waverly Advisors LLC’s portfolio, making the stock its 5th biggest holding. Waverly Advisors LLC’s holdings in NVIDIA were worth $288,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Boyd Wealth Management LLC lifted its holdings in shares of NVIDIA by 273.4% in the second quarter. Boyd Wealth Management LLC now owns 9,145 shares of the computer hardware maker’s stock valued at $1,830,000 after purchasing an additional 6,696 shares in the last quarter. Ally Financial Inc. grew its position in shares of NVIDIA by 10.3% in the second quarter. Ally Financial Inc. now owns 172,000 shares of the computer hardware maker’s stock valued at $34,415,000 after purchasing an additional 16,000 shares during the last quarter. Altshuler Shaham Ltd increased its stake in shares of NVIDIA by 6,451.9% during the 1st quarter. Altshuler Shaham Ltd now owns 637,236 shares of the computer hardware maker’s stock worth $111,134,000 after purchasing an additional 627,510 shares in the last quarter. Storen Legacy Partners LLC purchased a new position in shares of NVIDIA during the 4th quarter worth approximately $1,350,000. Finally, Baker Tilly Wealth Management LLC increased its stake in shares of NVIDIA by 7.4% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 71,898 shares of the computer hardware maker’s stock worth $14,386,000 after purchasing an additional 4,958 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling In other NVIDIA news, Director Mark A. Stevens sold 622,239 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the completion of the sale, the director owned 2,336,531 shares in the company, valued at $541,187,310.22. This trade represents a 21.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 34,918 shares of NVIDIA stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $219.05, for a total value of $7,648,787.90. Following the sale, the chief financial officer owned 765,103 shares in the company, valued at $167,595,812.15. This represents a 4.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,766,118 shares of company stock worth $399,450,353. 3.94% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance Shares of NVIDIA stock opened at $229.28 on Monday. NVIDIA Corporation has a twelve month low of $164.27 and a twelve month high of $243.37. The stock has a market capitalization of $5.53 trillion, a P/E ratio of 28.99, a PEG ratio of 1.77 and a beta of 2.22. The company has a current ratio of 4.59, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. The business’s fifty day moving average price is $222.66 and its 200 day moving average price is $209.66. NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The business had revenue of $96.22 billion during the quarter, compared to analysts’ expectations of $92.27 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The company’s revenue for the quarter was up 105.9% on a year-over-year basis. As a group, research analysts anticipate that NVIDIA Corporation will post 9.25 earnings per share for the current year.

NVIDIA announced that its board has authorized a share repurchase program on Monday, September 28th that authorizes the company to repurchase $150.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 2.8% of its shares through open market purchases. Share buyback programs are often a sign that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 10th were paid a $0.25 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. NVIDIA’s payout ratio is 12.64%.

Analyst Upgrades and Downgrades NVDA has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on NVIDIA from $280.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. KGI Securities raised their price target on NVIDIA from $335.00 to $345.00 in a research report on Thursday, August 27th. Evercore set a $465.00 price target on NVIDIA and gave the stock an “outperform” rating in a research report on Thursday, August 27th. UBS Group reissued a “buy” rating on shares of NVIDIA in a report on Friday. Finally, Jefferies Financial Group restated a “buy” rating on shares of NVIDIA in a report on Wednesday, August 26th. Five analysts have rated the stock with a Strong Buy rating, forty-nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $321.89.

Get Our Latest Research Report on NVIDIA

Key Stories Impacting NVIDIA Here are the key news stories impacting NVIDIA this week:

Positive Sentiment: AI infrastructure demand remains robust. TSMC reported third-quarter revenue growth of 50%, while analysts cited continued hyperscaler spending and projected U.S. data-center capital expenditures of roughly $2 trillion next year—supportive of NVIDIA’s accelerator demand. NVIDIA AI spending outlook Positive Sentiment: SpaceX reportedly plans to raise as much as $40 billion to purchase NVIDIA AI chips, highlighting the scale of demand from emerging AI customers. NVIDIA also committed $1 billion over five years to U.S. scientific research in areas including quantum computing, healthcare and energy security. SpaceX NVIDIA chip purchase report Neutral Sentiment: Options activity is mixed: a large bullish trade suggests some investors expect further gains, but heavier put buying in the semiconductor ETF indicates increased hedging and caution across the chip sector. Technical analysts also see resistance near $235 and potential support around $215–$220. NVIDIA and semiconductor options activity Negative Sentiment: Investors remain concerned that AI spending may be debt-funded and approaching a peak. The withdrawal of NVIDIA-backed Firmus Grid’s proposed multibillion-dollar IPO, alongside reports that OpenAI’s annualized revenue was below earlier expectations, has raised questions about AI infrastructure valuations and customer funding. Firmus IPO withdrawal Negative Sentiment: Leadership and governance headlines add limited uncertainty: NVIDIA’s head of corporate communications left after roughly four months, while a legal challenge to the company’s Groq technology transaction could create additional execution and reputational risk. NVIDIA communications chief departure NVIDIA Company Profile (Free Report)

NVIDIA Corporation is a technology company that designs accelerated computing platforms, graphics processing units (GPUs), central processing units (CPUs), networking products and related software. Its technologies are used in artificial intelligence, data centers, scientific and technical computing, gaming, professional visualization, automotive systems and robotics.

The company’s products include GeForce GPUs and gaming software, data center computing platforms, networking solutions, and enterprise software for AI development and deployment.

See Also Five stocks we like better than NVIDIA 3 Stocks Chopped in Half: Why These Drops May Be Structural, Not a Dip Home Depot and Lowe’s Hit 52-Week Lows—But Analysts Aren’t Giving Up Utilities Are Bouncing Back—These 2 Giants Could Signal the Next Big Sector Rally Q3 Earnings Could Blow Past Consensus—Be Ready for What Comes Next

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Port Capital LLC purchased a new stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,359 shares of the computer hardware maker’s stock, valued at approximately $872,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Windsor Advisory Group LLC grew its position in NVIDIA by 208.1% during the 2nd quarter. Windsor Advisory Group LLC now owns 39,204 shares of the computer hardware maker’s stock worth $7,844,000 after purchasing an additional 26,478 shares in the last quarter. Fund 1 Investments LLC raised its stake in shares of NVIDIA by 160.9% during the 2nd quarter. Fund 1 Investments LLC now owns 60,000 shares of the computer hardware maker’s stock worth $12,005,000 after purchasing an additional 37,000 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in NVIDIA in the second quarter valued at approximately $7,035,000. Odyssean LLC boosted its holdings in NVIDIA by 77.4% in the second quarter. Odyssean LLC now owns 14,488 shares of the computer hardware maker’s stock worth $2,899,000 after purchasing an additional 6,321 shares in the last quarter. Finally, Roberts Glore & Co. Inc. IL lifted its holdings in NVIDIA by 10.0% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 29,225 shares of the computer hardware maker’s stock worth $5,848,000 after purchasing an additional 2,660 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA In other news, EVP Timothy S. Teter sold 30,460 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $222.80, for a total transaction of $6,786,488.00. Following the completion of the transaction, the executive vice president directly owned 2,687,660 shares in the company, valued at $598,810,648. This represents a 1.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 622,239 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $231.62, for a total value of $144,122,997.18. Following the transaction, the director directly owned 2,336,531 shares of the company’s stock, valued at $541,187,310.22. This trade represents a 21.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. 3.94% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth A number of analysts have issued reports on NVDA shares. Citigroup reaffirmed a “buy” rating and issued a $315.00 target price (up from $300.00) on shares of NVIDIA in a report on Thursday, August 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of NVIDIA in a research note on Thursday, October 1st. Royal Bank Of Canada raised their target price on NVIDIA from $300.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Truist Financial lifted their price target on NVIDIA from $307.00 to $346.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Finally, KeyCorp reiterated an “overweight” rating and set a $330.00 price target on shares of NVIDIA in a research report on Monday, August 24th. Five investment analysts have rated the stock with a Strong Buy rating, forty-nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Buy” and a consensus price target of $321.89. Read Our Latest Stock Report on NVIDIA

Trending Headlines about NVIDIA Here are the key news stories impacting NVIDIA this week:

Positive Sentiment: AI infrastructure demand remains robust. TSMC reported third-quarter revenue growth of 50%, while analysts cited continued hyperscaler spending and projected U.S. data-center capital expenditures of roughly $2 trillion next year—supportive of NVIDIA’s accelerator demand. NVIDIA AI spending outlook Positive Sentiment: SpaceX reportedly plans to raise as much as $40 billion to purchase NVIDIA AI chips, highlighting the scale of demand from emerging AI customers. NVIDIA also committed $1 billion over five years to U.S. scientific research in areas including quantum computing, healthcare and energy security. SpaceX NVIDIA chip purchase report Neutral Sentiment: Options activity is mixed: a large bullish trade suggests some investors expect further gains, but heavier put buying in the semiconductor ETF indicates increased hedging and caution across the chip sector. Technical analysts also see resistance near $235 and potential support around $215–$220. NVIDIA and semiconductor options activity Negative Sentiment: Investors remain concerned that AI spending may be debt-funded and approaching a peak. The withdrawal of NVIDIA-backed Firmus Grid’s proposed multibillion-dollar IPO, alongside reports that OpenAI’s annualized revenue was below earlier expectations, has raised questions about AI infrastructure valuations and customer funding. Firmus IPO withdrawal Negative Sentiment: Leadership and governance headlines add limited uncertainty: NVIDIA’s head of corporate communications left after roughly four months, while a legal challenge to the company’s Groq technology transaction could create additional execution and reputational risk. NVIDIA communications chief departure NVIDIA Price Performance NVDA opened at $229.28 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. NVIDIA Corporation has a 52 week low of $164.27 and a 52 week high of $243.37. The company has a fifty day moving average price of $222.66 and a two-hundred day moving average price of $209.66. The firm has a market capitalization of $5.53 trillion, a PE ratio of 28.99, a P/E/G ratio of 1.77 and a beta of 2.22.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.13. The business had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. NVIDIA’s quarterly revenue was up 105.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 EPS. As a group, analysts anticipate that NVIDIA Corporation will post 9.25 earnings per share for the current year.

NVIDIA announced that its board has initiated a stock repurchase plan on Monday, September 28th that allows the company to buy back $150.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 2.8% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. NVIDIA’s dividend payout ratio (DPR) is currently 12.64%.

NVIDIA Profile (Free Report)

NVIDIA Corporation is a technology company that designs accelerated computing platforms, graphics processing units (GPUs), central processing units (CPUs), networking products and related software. Its technologies are used in artificial intelligence, data centers, scientific and technical computing, gaming, professional visualization, automotive systems and robotics.

The company’s products include GeForce GPUs and gaming software, data center computing platforms, networking solutions, and enterprise software for AI development and deployment.

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A $21 million options bet just landed against one of the most valuable companies on earth, and whether it signals a coming crash or something far less dramatic changes everything for Nvidia shareholders sitting on record gains.

A trader recently paid a large sum for the right to sell Nvidia (NASDAQ:NVDA | NVDA Price Prediction) shares well below their market price. The position was 100,000 put options with a $180 strike expiring January 15, 2027, bought for about $21 million.

A put gives its owner the right to sell shares at a fixed price, so it gains value when the stock falls. Nvidia closed down 0.52% at $229.28 that session, which valued the company at $5.54 trillion.

The day’s largest Nvidia options trade barely moved the stock. For shareholders, the useful question is whether the buyer expects a decline or simply wants protection.

What the $21 Million Buys Exchange data show 101,416 contracts traded in that put, against open interest (contracts still outstanding) of 155,649.

By our own calculation, the premium works out to about $2.10 per share. The strike sits 21.5% below the October 9 close, so the stock has to fall past $180 and far enough below it to cover that cost before the trade makes money at expiration.

The contract also loses value every day as expiration approaches. Its delta of -0.09102 means the market sees only a slim chance that the stock ends below the strike.

Directional Trade or Portfolio Insurance If this is a directional position, the buyer needs a decline of about 22% in roughly three months just to reach the strike.

Hedging is the more common explanation. A fund can buy puts to limit its losses. For a fund holding billions in Nvidia, this means avoiding selling shares and paying taxes; in that case, the premium is simply the cost of insurance with no forecast attached.

The buyer has not been identified, and the trade data cannot show whether the contracts were part of a spread, meaning a combination of options bought and sold together.

Three Downside Trades Across Chips About $270 million of premium is deep in-the-money Micron (NASDAQ:MU) puts expiring June 2028. Plus, there’s more than 180,000 puts against about 50,000 calls in the VanEck Semiconductor ETF (NASDAQ:SMH) by noon, with $46 million spent on puts and $26 million on calls.

Deep in-the-money puts move closely with the share price, so they work like a synthetic short, a way to profit from a decline without borrowing stock. ETF puts, however, often insure a whole basket of chip holdings and say little about any one company.

Nvidia’s January expiration shows a put-to-call ratio of 3.61, compared with 0.76 across its full options chain.

Why Record Highs Invite Expensive Insurance Nvidia closed at a record $239.24 on October 6, then fell 2.94% on October 8 after a report said OpenAI’s revenue came in below investor expectations. That report raised the question of whether AI spending is driven by real customer demand or by outside funding.

Customer concentration adds exposure. Management said in August that AI labs could account for roughly a quarter of its business next year, with some of that infrastructure backed by Nvidia’s own balance sheet.

The strike still sits above the past-year low of $164.27, which makes the position aggressive but possible.

What Nvidia’s Growth Outlook Means for Shareholders Nvidia’s fundamentals remain strong. Revenue for the second quarter of fiscal 2027 rose 105.8% to $96.22 billion, and the company guided to $108.0 billion, plus or minus 2%, for the third quarter, excluding China data center compute.

At a P/E of 46x, the stock already assumes strong growth. Management, however, says supply will hold back sales at least through the end of fiscal 2028 because demand runs higher, and heavy put buying can lift the stock when those hedges are unwound.

A single hedge like this one says little about fundamentals. For long-term shareholders, though, record highs are exactly when exit planning matters most, which is the whole subject of our free bubble survivor’s handbook.

The test is the next earnings report, expected November 17, 2026. The bullish case weakens if Nvidia falls short of its $108 billion guidance or closes below CNBC’s reported $180 strike before January 15, 2027.

Contact [email protected] for any questions or corrections.

Microsoft will ramp up use of its homegrown artificial intelligence chips after years of reliance on Nvidia's graphics processing units, as the software giant attempts to bolster its AI stack.

Starting with its third-generation Maia AI accelerator, unveiled on Monday, Microsoft said it will mainly rely on its own silicon to handle incoming requests.

Microsoft's greatest strength in AI has been its Azure cloud, which runs a series of models for clients. Its Microsoft 365 Copilot and GitHub Copilot offer AI-powered services to software engineers and other office workers. And the company develops in-house models, though they've yet to make a big splash in a market dominated by OpenAI, Anthropic and Google.

The emerging opportunity in chips stems from unrelenting demand for advanced processors and a desire in the market for choice. Nvidia's GPUs have been the standard for AI workloads and models, and they fill Microsoft's existing data centers, while also serving to train models from OpenAI and Anthropic.

But as demand keeps growing, the model leaders have embraced a variety of silicon from companies including Amazon, Advanced Micro Devices, Cerebras, Google and, in recent months, Microsoft.

For general-purpose use, Microsoft already taps its own central processing units as well as silicon from Intel and AMD. Finance chief Amy Hood said at a Goldman Sachs conference last month that use of its own chips has helped with "margin improvement over the course of a decade."

Microsoft introduced its inaugural AI chip, the Maia 100, in 2023. It touted the Maia 200 this past January, and CEO Satya Nadella told analysts in July that Maia 200 "delivers 30% better performance per dollar than the latest generation hardware in our fleet" and said it was handling OpenAI models.

Production of the Maia 300 starts in 2027. Microsoft is targeting multi-gigawatt deployments of chips in the Maia family, according to a blog post from Executive Vice President Scott Guthrie. But Alistair Speirs, a general manager, declined to provide a timeline.

"We reserve a little bit of optionality there, because this is an industry that's changing very fast, and we want to deploy the right silicon for the right models that we're using at the right time as well," Speirs said.

Microsoft expects to pack 96 Maia 300 chips into each data center rack, double the number for the Maia 200. The new version can run through up to seven times more AI tokens per rack, with 40% more tokens per megawatt when compared with GPUs.

"We need new architectures that will give us essentially better performance, better use of the power that we have," Speirs said. "You can think of power translating pretty directly into operational cost for something like a data center as well."

Parts of Microsoft 365 Copilot should speed up with Maia 300, said Jim Kleewein, a technical fellow at the company.

In a note distributed to clients on Wednesday, Evercore ISI analysts estimated that Maia will represent about 10% of Microsoft's spending on AI chips by the first quarter of 2027. The analysts recommend buying Microsoft shares.

Nvidia will still be a big part of the equation. CEO Jensen Huang spoke at an event last week where Microsoft announced a Surface laptop containing an Nvidia processor. And when it comes to training models, Microsoft partners with Nvidia and AMD, Speirs said.

Unlike Google's tensor processing units or Amazon's Inferentia and Trainium, Microsoft's accelerators can't be rented by the hour to other companies.

"Nobody has tested them outside of Microsoft yet," said Patrick Moorhead, CEO of advisory firm Moor Insights and Strategy.

Treasury bills guarantee your rate until maturity while Johnson and Johnson has raised its dividend for 64 straight years, but depending on your tax state and timeline, one of these income streams quietly keeps far more money in your pocket…

As of October 9, 2026, Treasury bills paid an average yield of 3.98% on the 4-week bill, 4.15% on the 13-week bill, 4.31% on the 26-week bill and 4.44% on the 52-week bill. The longer you lend to the government, the more it pays you. This month’s dividend challenger is Johnson & Johnson (NYSE:JNJ | JNJ Price Prediction), one of the most dependable dividend payers in the market, and on current yield alone it comes in below every one of those bills.

What a Treasury Bill Is and What Happens When It Matures A Treasury bill is a short-term loan to the federal government. The IRS describes bills, notes and bonds as “direct debts (obligations) of the U.S. government”, and says bills generally come in 4-, 8-, 13-, 26-, or 52-week maturities. You can buy them at auction through TreasuryDirect or through a brokerage account, and brokerages also let you buy bills that are already trading. Bidders at each auction set the rate, so it reflects market conditions on that day.

Bills make no regular interest payments. They are “generally issued at a discount in the amount of $100 and multiples of $100”. You pay less than face value up front and take in the full face value at maturity. According to the IRS, “the difference between the discounted price you pay for the bills and the face value you receive at maturity is interest income.”

At maturity, the face value lands in your account and the deal is complete. If you want income to keep coming, you buy a new bill, either by hand or through an automatic reinvestment setting, and you take whatever rate the next auction sets. The 3.98% on the 4-week bill holds for four weeks. The 4.44% on the 52-week bill holds for one year. Neither rate continues past maturity.

Risks That Government Backing Leaves in Place Reinvestment risk: If short-term rates fall, every rollover pays less. A retiree living off a bill ladder takes an income cut each time rates drop. Price risk before maturity: Sell a bill before it matures and the market sets the price. If rates have risen since you bought, you get less than you planned. With bills the swing is small because the maturities are short, but it exists. Inflation risk: The government’s full faith and credit ensures the dollars you are owed. It says nothing about what those dollars will buy. Limits of the support: Treasuries are direct government obligations. They carry no FDIC deposit insurance, and none is needed for timely payment. Still, debt-ceiling standoffs have at times shook bills that mature near a possible default date. Dividend Safety Comes First: How J&J’s Payout Compares With a Bill J&J’s dividend record is long and continuous. In April 2026, the board raised the quarterly dividend 3.1% to $1.34 per share from $1.30, the 64th consecutive year of increases. That run makes it a Dividend King.

The business is earning enough to pay it. Second-quarter 2026 revenue reached $25.31B, up 6.6%, and adjusted EPS of $2.90 beat the $2.85 consensus. Management then raised full-year 2026 guidance to revenue of $100.80B to $101.40B and adjusted EPS of $11.60 to $11.75, well above the $5.36 per share annualized forward dividend. Free cash flow was $19.7B in fiscal 2025, and the CFO said the company is “on track for our full-year free cash flow outlook approaching $21 billion.” He added: “We also remain committed to returning capital directly to shareholders, primarily through our dividend.”

The main pressure: competition from Stelara biosimilars created an near 460-basis-point drag to overall second-quarter sales growth. Litigation charges came to $267M in the quarter. The company also plans to separate its Orthopaedics business within 18 to 24 months and ended the quarter with net debt of about $28 billion. None of this has put the payout at risk so far, but these are the items that would show up first if the dividend came under pressure.

Yield Today, and What Each Payment Can Do Based on the $5.36 annualized forward dividend and the October 9, 2026 closing price of $261.44, J&J’s forward dividend yield is about 2.05%. That is a yield, meaning the cash income relative to today’s price. A total return would also include any change in the share price.

Income source Yield As of Can the payment be cut? Can the payment grow? 4-week T-bill 3.98% Oct. 9, 2026 No, until maturity No, until maturity 13-week T-bill 4.15% Oct. 9, 2026 No, until maturity No, until maturity 26-week T-bill 4.31% Oct. 9, 2026 No, until maturity No, until maturity 52-week T-bill 4.44% Oct. 9, 2026 No, until maturity No, until maturity J&J forward dividend 2.05% Oct. 9, 2026 close Yes, at the board’s discretion Yes, at the board’s discretion The core trade-off: once you buy a bill, its rate cannot be cut. J&J’s dividend is a board decision each quarter, and a board can reduce or suspend it. The bill’s rate also cannot rise during its life, while the dividend can grow. J&J paid $1.06 a quarter in 2021, $1.19 in 2023 and $1.34 in 2026. Back in 1999, the quarterly payment was $0.25. A bill ladder’s income also changes over time, but it follows auction rates rather than a company’s profits, so it can move down as easily as up.

The bigger difference is principal. A bill held to maturity pays back face value. J&J stock never matures and comes with no ensures price. Its 52-week range goes from $180.57 to $281.07. The shares rose 39.9% over the year to October 9 but lost 2.11% over the latest month. A retiree who has to sell shares in a down month locks in that loss.

Taxes Can Decide Which Income Keeps More The IRS states that interest from Treasury bills, notes and bonds “is subject to federal income tax but is exempt from all state and local income taxes.” It is taxed federally at ordinary income rates and reported on Form 1099-INT. Bill interest is generally reported “when the bill is paid at maturity”, so a 26-week or 52-week bill bought now pushes that income into the 2027 tax year.

J&J’s payouts are qualified dividends, taxed at long-term capital-gains rates federally for most retail holders, and generally subject to state income tax. To get the qualified rate, you have to hold the shares for a minimum period around the ex-dividend date.

In a high-tax state such as New York, California or New Jersey, the state exemption makes each dollar of bill interest worth more after tax. In a state with no income tax, such as Florida or Texas, the exemption is worth nothing, and the dividend’s lower federal rate carries more weight. Retirees in lower federal brackets may owe little or no federal tax on qualified dividends.

Account type matters too. In a traditional IRA or 401(k), both tax benefits disappear: withdrawals are taxed as ordinary income federally and in most states, whether the money came from Treasury interest or J&J dividends. In a Roth, qualified withdrawals are tax-free either way. These tax differences only come into play in a taxable brokerage account.

Who Each Income Stream Suits Treasury bills suit retirees who need a known dollar amount on a known date within the next year, live in a high-tax state, hold the money in a taxable account, and accept that each rollover resets the rate. J&J suits retirees with enough time to ride out price swings who want income supported by a 64-year record of increases to help keep up with inflation, and who accept that a board sets the payout rather than a contract. Retirees who need both certainty and growth often hold some of each, with the bills covering near-term spending and the dividend stock meeting longer-term needs.

Contact [email protected] for any questions or corrections.

Exxon has handed investors a larger dividend check every year for 43 consecutive years, but sliding crude prices and a 61% quarterly free cash flow drop are now stress-testing the limits of that promise.

Oil has been volatile. West Texas Intermediate reached $114.58 on April 7, 2026, after bottoming at $55.44 in December 2025. It stood at $96.24 on October 6. Exxon Mobil (NYSE:XOM | XOM Price Prediction) shares closed at $169.01, up 43.18% this year, and yield 2.48%. If you own Exxon for the quarterly check, the question that matters is what happens when oil falls and then stays down.

What Funds the $4.12 Payout Exxon pays $1.03 a quarter, or $4.12 a year. With about 4.11 billion shares outstanding, that works out to roughly $16.9 billion a year. In 2025, Exxon generated $51.97 billion of operating cash flow, spent $29.00 billion on capex and kept $26.13 billion in free cash flow. That covered the dividend easily. Add the $20B buyback, though, and total payouts ran ahead of free cash flow. Capex guidance for 2026 is $27B to $29B.

A corporate breakeven is the oil price at which operating cash flow just pays for capital spending plus the dividend. When crude falls below that level, the shortfall has to come from cash or borrowing. Exxon has not published a specific dividend breakeven in its recent reports, so its debt capacity becomes the real buffer. Debt-to-equity is 0.168, net debt/EBITDA is 0.548 and interest coverage is 56.28x. CEO Darren Woods put it this way:

“That growth is underpinned by disciplined capital allocation and an industry-leading balance sheet that gives us unmatched flexibility to invest through the cycle and consistently deliver industry-leading returns.”

A 43-Year Streak Tested by 2020 Exxon has raised its annual dividend for 43 consecutive years. When crude collapsed in 2020, management held the quarterly payout at $0.87 from 2019 through 2021 and did not cut it. Shell (NYSE:SHEL) cut its dividend in 2020. Its quarterly dividend is now $0.3906, and net debt was $52.6 billion in Q1 2026. For now, Chevron (NYSE:CVX) pays $1.78 after its 39th consecutive annual increase. Still, Chevron posted negative $1.549 billion of free cash flow in Q1 2026 and has leverage of 1.08x net debt/EBITDA.

Where a Price Slide Hits First Q1 2026 showed how fast the numbers can tighten. Free cash flow fell 61.74% to $2.70B. The buyback gives first. Exxon pledges its $20B buyback only “assuming reasonable market conditions.” Capex cuts would follow. Costs offer support as well: structural savings have reached $16.3 billion since 2019. CFO Neil Hansen said on the July call:

“If you took our cash expenses this year and you just annualized it, our cash OPEX would look even with 2019.”

Guyana adds more support. Exxon has “fully recovered the $55 billion of investment,” which Hansen called “very much an inflection into free cash flow.” That matters, because EIA projects Brent below $70 per barrel through 2030.

Verdict: The Dividend Holds Yes. In a long downturn, Exxon would slow buybacks, trim capex and lean on its low debt before cutting the dividend. Last quarter it produced more than $17 billion of free cash flow and reduced net debt by more than $7 billion. What a downturn would put at risk is dividend growth. For holders screening the rest of the high-yield energy complex, the seven warning signs that typically come before a cut are laid out in a free guide here.

Signals Holders Should Track Now Whether buybacks stay on pace for $20B Quarterly free cash flow compared with the dividend Net debt/EBITDA moving above 0.548 Whether the fifth Guyana FPSO starts up by year-end Progress toward the $20B savings target Contact [email protected] for any questions or corrections.

Royal Caribbean Cruises Ltd. NYSE: RCL has rarely looked more ambitious. The cruise giant has agreed to pay around $3 billion for a half-share in the company behind Sandals, the famous all-inclusive Caribbean resort, in a bold move beyond the open water and onto dry land.

Royal Caribbean Cruises Today

RCL

Royal Caribbean Cruises

$281.87 -0.39 (-0.14%)

As of 10/9/2026 03:59 PM Eastern

This is a fair market value price provided by Massive. Learn more.

$222.22▼

$356.392.13%

17.42

$350.88

Investors have cheered the step. Though RCL shares are still roughly flat for the year, they surged about 25% over the two weeks since the deal was announced to trade near $280.

Get RCL alerts:

After an initial wobble, as the market digested the price tag, the mood turned firmly optimistic, helped along by a wave of supportive analyst commentary.

So the question now is what this deal really means for Royal Caribbean's next phase of growth. Is buying into the resort business a shrewd way to extend an already booming franchise, or an expensive distraction that piles on debt at an uncertain moment?

Why the Deal Makes SenseThe logic behind the move is more compelling than it might first appear. Rather than simply adding more ships, Royal Caribbean is building out a broader vacation empire, one that spans cruises, private destinations, loyalty programs, and now land-based resorts too.

The appeal is in the connections between them. A Sandals guest could be tempted onto a cruise, a loyal cruiser onto a resort stay, and the whole ecosystem feeds a more frequent, higher-spending customer relationship. It deepens the company's grip on its most important market, the Caribbean, where demand remains particularly strong.

The deal also offers a tangible financial sweetener. Jefferies, which upgraded the stock to a Buy, estimates the venture could add around $159 million to earnings in 2027, worth roughly 59 cents per share. For a deal that’s only due to complete early next year, that is an impressively quick contribution to the bottom line.

A Business Already Sailing WellCrucially, this expansion is happening from a position of strength. Royal Caribbean’s underlying cruise business is in fine health, with management describing demand for 2027 as very strong and bookings already running at elevated levels.

Better still, that demand is giving Royal Caribbean real pricing power. The company says it can increasingly raise prices on last-minute bookings rather than slashing them to fill cabins, a telling sign that appetite for its cruises is outstripping the supply of berths.

Nor is it wholly reliant on ticket prices. A growing share of revenue now comes from what guests spend once aboard, on drinks, shore excursions and the like, giving the company another lever to pull even when fares rise only modestly. This combination of full ships, firmer pricing, and higher onboard spending has Wall Street upbeat.

A Few Clouds on the HorizonFor all the optimism, a dose of caution is sensible, and the biggest question mark hangs over the debt behind the Sandals deal. The $3 billion stake is being funded with borrowed money, and while the exact terms have not been disclosed, taking on fresh debt inevitably raises interest costs and leaves less room for maneuver if conditions sour.

There is the ever-present issue of fuel, as well. Rising crude prices are a real threat to a business that burns so much of it, and although strong pricing and onboard spending should help absorb the hit, that cushion may not be enough if fuel costs climb sharply from here.

The deal itself must also prove its worth. A $3 billion outlay sets a high bar, and the venture will need to deliver the promised earnings without swallowing more cash or management attention than expected. With a 50% stake, Royal Caribbean shares both the rewards and the risks without holding full control.

Can the Rally Keep Rolling?Looking ahead, it’s hard not to feel that Royal Caribbean is an attractive way to play the enduring strength of the cruise market, with this Sandals deal adding a fresh and potentially lucrative string to its bow. The core business is thriving, demand is robust, and the company has found a new avenue for growth even while its existing growth arm looks strong.

Royal Caribbean Cruises Stock Forecast Today12-Month Stock Price Forecast:
$352.04
24.89% Upside

Moderate Buy
Based on 28 Analyst Ratings

Current Price$281.87High Forecast$425.00Average Forecast$352.04Low Forecast$298.00Royal Caribbean Cruises Stock Forecast Details

Wall Street largely agrees. The stock carries a MarketBeat Moderate Buy consensus rating, and the enthusiasm has only grown since the deal.

This week, Barclays reiterated an Overweight rating with a $337 price target, implying around 20% of upside from current levels and a return to the top of the stock's recent range.

At the same time, Citigroup reaffirmed its own Buy rating the week before.

Yes, the debt and fuel risks are real, and a $3 billion bet is never without danger. But Royal Caribbean has given the market plenty to be excited about, so for investors who believe the cruise boom has further to sail, the recent rally could easily have another leg in it.

Should You Invest $1,000 in Royal Caribbean Cruises Right Now?Before you consider Royal Caribbean Cruises, you'll want to hear this.

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Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.

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Key Takeaways
UnitedHealth is slated to report earnings Tuesday morning. Recent options prices suggest traders see the stock swinging up to 6% by the end of the week.Analysts expect UnitedHealth to report a decline in revenue, but rise in profits from the year-ago quarter as the company has worked to cut costs.

UnitedHealth is set to report earnings Tuesday morning, with traders anticipating a significant move in the insurer’s stock.1

Based on current options pricing, UnitedHealth (UNH) shares are expected to swing up to 6% in either direction by the end of the week. A move of that size from Friday’s close could send the shares up to $403, or drag them below $355, erasing some of their recent gains.

UnitedHealth shares are up about 15% for the year, though they’ve pulled back from their highs in July. The insurance giant beat analysts’ estimates with its last two reports, also lifting its full-year forecast back in July.

Why This Matters to Investors
Another solid report could help extend the recovery UnitedHealth’s stock has staged this year after slumping last year.

Last week, an update from the federal government showed UnitedHealth lost ground in the latest Medicare Advantage star ratings, which could negatively impact its bonus payments. Analysts at UBS suggested the ratings outcome was better than feared, however, calling it a “relatively benign outcome.”2

UnitedHealth is expected to report third-quarter revenue of $111.35 billion, a decline of just under 2% year-over-year, with adjusted earnings per share of $4.07, up from $2.92 in the same time last year, according to Visible Alpha estimates.

Analysts are largely bullish on UnitedHealth ahead of Tuesday’s report. Nine of the 10 analysts tracked by Visible Alpha recommend buying the stock, while one holds a neutral rating. Their mean price target of $490 would suggest close to 30% upside from Friday’s close.

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Investors need to know certain key dates concerning dividends. These are the declaration date (the board of directors announces and approves the payout), ex-dividend date (the stock trades without the dividend), record date (the deadline by which shareholders must own the stock to receive the dividend), and payment date (the dividend gets paid to shareholders).

Clorox's (CLX +0.43%) upcoming dividend has a record date of Oct. 28. You'll need to purchase the shares and have the transaction settled to receive the $1.25 quarterly dividend the company will pay per share on Nov. 13.

Image source: Getty Images.

If you've targeted a $5,000 annual dividend, how many shares would you have to own? Some simple math provides the answer. The $ 1.25-per-share quarterly payment works out to an annual payout of $5 per share. Dividing the targeted $5,000 payment by $5 works out to 1,000 shares. The stock closed at $83.44 on Oct. 8. That means you'll have to invest $83,440 to own 1,000 shares.

Dividend investors will undoubtedly find the 6% yield attractive. That's nearly six times the S&P 500 index's roughly 1% yield.

Clorox has an impressive history of raising dividends, too. Earlier this year, the board of directors raised August's quarterly per-share payout by a penny. That ran the company's streak to 49 straight years, putting it on the precipice of becoming a Dividend King (companies that have raised dividends annually for at least 50 straight years).

However, Clorox has faced challenges over the last few years, which is reflected in its stock performance. Over the last five years through Oct. 8, the share price fell by over 49% compared to the S&P 500's nearly 78% gain.

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The company's payout ratio of over 103% (dividends relative to earnings) should also make investors cautious about future dividends. Ratios that high are not sustainable over time and will eventually result in cuts or even suspension of the dividend until finances improve.

Lawrence Rothman, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Oracle's AI data centers are running behind on pipelines and permits, so the company found an unusual workaround to keep construction on schedule and avoid penalties on hundreds of billions in signed contracts.

For more than a year, a data center outside Salt Lake City ran on natural gas that arrived by truck. The pipeline meant to feed it was still being built. Oracle (NYSE:ORCL | ORCL Price Prediction) now uses or is considering the same solution at three sites.

The stock closed at $141.40. The average analyst target is $237.97, which implies about 68% upside.

A gap above 40% means Wall Street and the market disagree about something basic. Oracle’s signed contracts show plenty of demand for its AI capacity, so investors are asking whether Oracle can deliver it all on time.

Pipelines, utility interconnection queues and state land offices each run on their own calendars. Oracle’s customer contracts carry fixed delivery dates.

Trucked gas is what that mismatch looks like in practice. With shares about 56% below their high of the past year, the market is pricing in the risk that the calendars never line up.

How a Virtual Pipeline Keeps Oracle’s AI Campuses Powered A data center needs firm power before it can serve a single customer, and on-site gas turbines or fuel cells can supply that power once gas arrives.

If a pipeline is unfinished or a right-of-way is refused, developers haul compressed gas in by trailer, a practice the industry calls a virtual pipeline. Certarus supplied the gas in Utah, and VoltaGrid trucks are powering early work at the OpenAI campus in Shackelford County, Texas.

Project Jupiter in New Mexico is the third case. The state land office twice refused rights-of-way for the Energy Transfer pipeline, pushing its start to February. Oracle is considering trucked gas for the 2.45-gigawatt campus. The schedule slipped, and Oracle publicly thanked its supplier with a post reading “Shoutout to the Voltagrid team for finding cost-effective power solutions.”

Paying a Steep Fuel Premium to Hit Contract Dates Jack Weixel estimates that trucked gas costs roughly four times the price of gas at a major pipeline hub once delivered. Ellie Holbrook estimates that at an assumed 100-megawatt load at Jupiter, one large trailer would supply about 40 minutes of electricity.

Even a small part of the planned campus would therefore need a steady stream of trucks. Oracle accepts that cost because missing an agreed delivery date on a hyperscale deal risks penalties and delayed revenue that would likely exceed the fuel bill.

Oracle’s force majeure notice to the Jupiter developer in late September shows the strain more clearly. The clause exempts obligations interrupted by events outside a party’s control, although Oracle says Jupiter remains on schedule for 2028.

A $664 Billion Backlog Spends Before It Earns Remaining performance obligations, meaning revenue under agreements that Oracle has not yet earned, reached $664 billion, up $209 billion from a year earlier. Oracle has to spend on capacity before it can book revenue from that backlog. Revenue rose 30% to $19.3 billion in the fiscal first quarter, and cloud infrastructure revenue grew 121% to $7.4 billion.

Capital spending reached $28 billion in the quarter, and free cash flow was-$5 billion. Management expects $90 billion to $95 billion of capital spending this fiscal year.

Total debt stands at $169.14 billion. With that much debt, a delayed campus or a major customer renegotiating would leave Oracle little room to take the hit.

Mizuho Sees $320 While Yorkville Ives Waits for Proof Mizuho named Oracle a top pick for October with a $320 target, more than double the current price. Yorkville Ives started coverage in line with a $155 target, roughly 10% above the close. The firm said it is “staying on the sidelines until the company shows it can execute a build of this scale.”

Coverage leans bullish, with 7 Strong Buy, 28 Buy, 7 Hold and 1 Sell ratings. Price targets are estimates of how well Oracle will execute, so they carry no guarantee.

Last Thursday, the shares fell 5.48% to $135.69 as AI stocks generally dropped after a report on OpenAI’s revenue. They rose 4.59% the next session. Year to date, Oracle is down 26.49%, while the S&P 500 is up 14.17%.

Delivery Risk Outweighs Oracle’s Cheap Multiple A forward earnings multiple of about 18 looks cheap. But free cash flow is negative, debt is heavy, and the delivery schedule depends on permits and pipelines that Oracle doesn’t control.

The lower target looks wrong. If the Jupiter pipeline reaches service, backlog will keep growing in the next quarterly report and free cash flow will improve as campuses ramp up. The higher target looks wrong if more sites need trucked gas or a large customer cuts back its commitments.

Microsoft (NASDAQ:MSFT) offers a useful comparison for AI demand exposure. Azure revenue grew 43% last quarter, and Microsoft produced $19.639 billion of free cash flow while spending $35.802 billion on capital projects.

That self-funding expansion is what Oracle still needs to prove it can manage, and until it does, Microsoft shows how an AI expansion can be funded with far less balance-sheet risk.

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