A CNBC segment that ran last week opened with a sentence you do not normally hear from a buyer. “It’s stupid. It’s unreasonable… The valuation is really, really aggressive, in my opinion,” said Marvin Jung, a regional director of operations in veterinary care. Then he told CNBC he had requested roughly 1,000 shares of SpaceX through Robinhood anyway. That gap, between what retail investors are saying and what they are doing, is the actual story of the IPO.
Why analysts call the $2.1 trillion price aggressive SpaceX is now public at a $2.1 trillion valuation. A Morningstar analyst told CNBC the company has been “significantly overvalued” and that investors will likely find better prices later. The Connectivity segment, mostly Starlink, did $11.4 billion in 2025 revenue with $7.17 billion in segment adjusted EBITDA; revenue grew 49.8% year over year. That is a real business.
The AI segment, formed by the February 2026 acquisition of xAI, posted a 2025 loss from operations of $6.35 billion on $3.2 billion in revenue, with first-quarter 2026 AI capex alone of $7.7 billion. Mid-roadshow, SpaceX disclosed roughly $26 billion in new annual revenue from Anthropic and Google partnerships, which hardened conviction.
The retail archetypes lining up for shares What makes this IPO unusual beyond size is the allocation. Per CNBC, 20% to 30% of shares are going to retail, well above the normal sliver. Three archetypes are showing up. The short-term pop chaser, hoping to flip day-one demand.
The cautious position-taker, capping exposure at around $10,000 or two shares, treating it as a small lottery-ticket position. And the long-term believer, like recent Cornell graduate Andrew Chen, who told CNBC he wants to “underwrite Elon’s ability to execute in this growing TAM” and called it a “once in a lifetime opportunity.”
The Musk premium and the AI infrastructure bet Day trader Ross Cameron, founder of Warrior Trading, put the bull case in a line to CNBC. The IPO “would be overvalued if it didn’t include Elon Musk… because it includes Elon Musk… It doesn’t really make sense on paper, but this is the right market environment.” CNBC kept returning to the reframing that “SpaceX is not one business… it’s three businesses” across communications, launch, and AI infrastructure. Eric Jackson of The AI Investor Podcast said he would not buy on day one or even in the first month, citing the low float and pent-up demand bottleneck.
Admiration plus patience is the Morningstar posture too. The Musk premium is real, but so is the dilution risk if xAI keeps consuming cash faster than Starlink can throw it off. Retail buyers who treat the IPO as a venture-style bet rather than a public-market trade are the ones most likely to come out ahead, because the path from a $1.8 trillion entry price to a higher one almost certainly runs through several years of messy quarterly prints.
Where Rocket Lab fits into the trade For investors who do not get an allocation, Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) has been the de facto SpaceX proxy. Q1 revenue hit $200.35 million, up 63.46% year over year, with backlog at a record $2.20 billion and CEO Peter Beck citing “access to more than $2 billion in liquidity” in the 8-K filed May 7, 2026. The Neutron medium-lift rocket will likely debut later in 2026. Reddit sees the stock as the cheaper executable version of the SpaceX trade.
The risk both stocks share is execution. SpaceX must turn xAI capex into AI revenue, Starship into a reliable workhorse, and Starlink growth into something durable enough to justify a software-like multiple. Rocket Lab has to land Neutron’s debut later in 2026, integrate three acquisitions without margin slippage, and convert that $2.2 billion backlog into recognized revenue on schedule. Retail investors who get SpaceX allocations should also keep an eye on the eventual lock-up expiration, when early shareholders sitting on enormous private-market gains finally get to sell. That is when the Morningstar “better prices later” thesis gets tested in public, and when the RKLB-as-proxy trade either gets validated or quietly unwinds.
SpaceX’s historic IPO just got super-sized, after the public offering’s underwriters exercised their option to purchase the maximum amount of shares — bringing the total amount raised to $85.7 billion.
Elon Musk’s space-and-AI company had initially raised $75 billion, which was already enough to make it the largest IPO windfall ever.
SpaceX has said it plans to use the proceeds from this IPO in a variety of ways. The company plans to extinguish around $20 billion in debt related to legacy loans tied to X, the social media company formerly known as Twitter, and Musk’s AI company xAI — both of which were combined into SpaceX before the IPO.
Funds will also be used to expand SpaceX’s AI compute infrastructure, enhance its launch infrastructure, and improve Starlink.
SpaceX’s stock started trading on the Nasdaq exchange on Friday. The company finished the day with a valuation of more than $2 trillion, and Musk became the world’s first trillionaire. Shares climbed higher on Monday, helping SpaceX eclipse the valuation of chipmaker TSMC.
Yet the significance of this IPO extends far beyond the company’s first-day gains. For investors, the listing represents a major test of market appetite for high-growth businesses that prioritize long-term expansion over near-term profitability. It may also provide a roadmap for a new generation of public offerings, particularly from the artificial intelligence sector.
The enthusiasm surrounding SpaceX reflects investor confidence in the company’s long-term vision rather than its current earnings profile. Since its founding in 2002, SpaceX has accumulated substantial losses while investing heavily in launch systems, satellite infrastructure and next-generation space technologies. However, management argues that years of investment are beginning to generate meaningful returns.
A key pillar of that strategy is Starlink, the company’s satellite internet network, which has become a significant source of recurring revenue and cash flow. The proceeds raised through the IPO are expected to accelerate an ambitious expansion plan that includes a dramatic increase in satellite deployment and the development of space-based computing infrastructure.
Investors are effectively betting that SpaceX can evolve from a successful aerospace company into a foundational provider of global communications and computing services. This vision helps explain why the market has been willing to assign such a lofty valuation despite the company’s limited profitability.
Retail investors also played a major role in the stock’s debut. Individual traders accounted for an unusually large share of demand, reinforcing the strong retail participation that has become a defining feature of modern financial markets. The combination of a globally recognized brand, Elon Musk’s reputation and the scarcity of publicly traded space-related investments created conditions for exceptional first-day demand.
Why Volatility Could Remain Elevated While the IPO’s success has generated excitement, investors should also prepare for significant volatility in the weeks and months ahead. Historically, many high-profile listings experience sharp price swings after their initial surge. Early enthusiasm often collides with the realities of valuation, profit expectations and changing market sentiment.
These mandatory purchases could create additional upward pressure on the stock price in the short term. However, such flows are technical rather than fundamental, meaning they may not necessarily reflect changes in the company’s underlying business performance.
For retail investors, this distinction is important. Strong demand from index funds can support a stock temporarily, but long-term returns ultimately depend on revenue growth, profitability and operational execution.
What the SpaceX IPO Means for OpenAI and Anthropic Perhaps the most important consequence of the SpaceX listing is what it signals for the broader IPO market. For several years, high interest rates and economic uncertainty limited the number of large technology companies willing to go public. The strong reception received by SpaceX suggests that investor appetite for disruptive growth stories remains intact, particularly when companies operate in sectors viewed as transformational.
This development is likely to be closely watched by OpenAI and Anthropic, two of the most anticipated future listings in the artificial intelligence industry. Unlike SpaceX, these companies are positioned at the center of the generative AI boom and benefit from rapidly expanding commercial adoption. Their revenue growth trajectories may therefore appear more immediately attractive to investors seeking exposure to artificial intelligence.
However, the comparison is not entirely straightforward. SpaceX enters public markets with more than a decade of investor familiarity with Elon Musk as the leader of a publicly traded company. Many investors who generated substantial returns from Tesla are willing to extend a similar degree of trust to his latest venture.
OpenAI and Anthropic do not yet possess that same public-market track record. As a result, investors may place greater emphasis on governance structures, management execution and the path toward sustainable profitability. This difference could lead to even greater volatility once these companies eventually begin trading.
Can Fundamentals Catch Up With Valuations? The success of the SpaceX IPO highlights a familiar pattern in financial markets. During periods of optimism, investors often focus on future opportunities rather than current earnings. SpaceX, OpenAI and Anthropic all share a common characteristic: they operate in industries with enormous potential but require extraordinary levels of capital investment. As a result, profitability remains elusive despite rapid revenue growth.
For now, investors appear comfortable funding these long-term ambitions. The belief is that today’s losses represent investments in infrastructure that could eventually support dominant market positions. Nevertheless, history suggests that enthusiasm alone cannot sustain valuations indefinitely. Public companies ultimately face scrutiny from shareholders who expect measurable progress toward profitability and cash generation.
Research on high-growth listings has consistently shown that companies trading at extreme revenue multiples often struggle to justify those valuations over time. While some become transformative market leaders, many eventually face significant repricing as investors reassess expectations. The challenge for SpaceX—and potentially for future AI listings—will be demonstrating that revenue growth can eventually translate into durable earnings power.
Conclusion The SpaceX IPO could be more than a successful market debut; it may mark the beginning of a new phase for global equity markets. Its record valuation, extraordinary investor demand and rapid ascent into the mega-cap universe have reopened discussions about how much investors are willing to pay for long-term innovation. The listing also provides an early indication of how public markets may respond to the next generation of AI giants. If SpaceX has reopened the door for transformative growth companies, OpenAI and Anthropic could be the next major beneficiaries.
For investors, however, the lesson remains unchanged. Exciting narratives can drive valuations higher in the short term, but long-term shareholder returns ultimately depend on execution. The coming years will reveal whether these ambitious companies can transform extraordinary expectations into equally extraordinary financial results.
HomeInvestingStocksIPO ReportIPO ReportUnderwriters on the already record-breaking IPO exercised the ‘greenshoe’ option to buy another 83 million sharesPublished: June 15, 2026 at 11:38 a.m. ET
SpaceX shares are pushing higher in their second day of trading after the company disclosed that its record haul of initial-public-offering proceeds was an even bigger sum than first recorded.
The company included what’s called a greenshoe option in its offering, allowing underwriters of the IPO to buy additional shares at the IPO price of $135 per share. SpaceX said that its underwriters had decided to fully exercise that option, buying 83.3 million further shares.
June 15, 2026 11:39 ET | Source: Purpose Investments Inc.
TORONTO, June 15, 2026 (GLOBE NEWSWIRE) -- This release corrects and replaces the press release issued on June 15 at 1601 Eastern Time. In the third paragraph, Nick Mersch's name was misspelled Mersh. The corrected release follows:
Purpose Investments Inc. (“Purpose”) is excited to announce the expansion of its Yield Shares suite with the launch of the Purpose SpaceX (SPCX) Yield Shares ETF, which begins trading today on Cboe Canada under the ticker SPXY.
The new ETF offers investors exposure to SpaceX and is designed to generate enhanced* monthly income through a diversified covered call strategy on approximately 50% of the portfolio, combined with modest leverage of approximately 25%.
“SpaceX is one of the most influential companies shaping the future of space exploration and advanced technology, and Canadian investors have been looking for a simple way to access its growth potential,” said Nick Mersch, Portfolio Manager at Purpose Investments. “SPXY gives investors access to that opportunity while providing enhanced monthly income through a strategy focused on long-term total return.”
As investor demand continues to grow for single-stock income strategies, SPXY expands Purpose’s Yield Shares suite into one of the most anticipated public market opportunities, offering investors a new way to access innovation, growth potential, and monthly income in a single ETF.
Key Benefits:
Growth Potential: Gain exposure to the long-term growth opportunity of SpaceX, a leader in the commercial space industry.Monthly Income: Designed to generate enhanced monthly income through a diversified covered call strategy written on approximately 50% of the portfolio.Modest Leverage: Uses approximately 25% leverage to enhance exposure and support the fund’s income objective.Tax-Efficient Distributions: Distributions are expected to be in the form of capital gains and/or return of capital, which are typically taxed more favourably than interest income.Canadian Dollar Hedged: The Fund will be 100% hedged back to the Canadian dollar, reducing U.S. dollar currency risk for investors.
With the addition of SPXY, the Purpose Yield Shares suite has grown to feature 30 ETFs, offering an array of yield-focused strategies across Canadian, U.S. and crypto assets. The new addition reinforces Purpose Yield Shares as a leading option for investors seeking monthly income and total return from their favourite stocks and digital assets.
About Purpose Investments
Purpose is the manager of the ETF. Purpose is an asset management company with more than $31 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
*Purpose Yield Shares funds provide "enhanced" or higher yields in the form of additional monthly distributions compared with the underlying common stock, which pays a relatively lower or no distribution yield.
The content of this document is for informational purposes only and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. Information contained in this document is not, and under no circumstances is it to be construed as, an offering memorandum, prospectus, advertisement or public offering of securities. No securities commission or similar regulatory authority has reviewed this information, and any representation to the contrary is an offence. The information contained in this document is believed to be accurate and reliable; however, we cannot guarantee that it is complete or current at all times. The information provided is subject to change without notice.
Commissions, trailing commissions, management fees and expenses may all be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Copies of the prospectus may be obtained from purposeinvest.com. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed; their values change frequently, and past performance may not be repeated. Fund distribution levels and frequencies are not guaranteed and may vary at the sole discretion of Purpose Investments.
Certain statements in this document may be forward-looking. Forward-looking statements ("FLS") are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as "may,” "will,” "should,” "could,” "expect,” "anticipate,” "intend,” "plan,” "believe,” "estimate" or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are, by their nature, based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.
SpaceX Says Historic IPO Raised More Than $85 Billion Ty Roush is a breaking news reporter based in New York City.
Jun 15, 2026, 11:33am EDT
ToplineSpaceX’s record-setting initial public offering raised more than $85 billion, the company announced on Monday, after the banks behind the debut sold additional shares that had been set aside to match strong investor demand.
Wall Street banks sold extra shares set aside for stronger investor demand, Elon Musk’s firm said.
dpa/picture alliance via Getty Images
Key FactsBrokers behind SpaceX’s IPO—Goldman Sachs and Morgan Stanley, among others—purchased an additional 83.3 million SpaceX shares, bringing the total raised to $85.7 billion as of Monday, the company said.
Shares of SpaceX, trading for their first full day, jumped another 7.5% on Monday morning after surging 19% in its debut last week.
Apple (NASDAQ:AAPL | AAPL Price Prediction | AAPL Price Prediction) just reported its best March quarter ever, with iPhone 17 demand pushing revenue to $111.18 billion and Services to a fresh record at $30.98 billion.
Tim Cook told investors iPhone delivered a March quarter revenue record “fueled by such extraordinary demand for the iPhone 17 lineup.” Yet shares have stalled near $291.13, up only 7.29% YTD. The question: can Apple reach $400 by 2028?
What’s Holding Apple Back Despite record results, the stock is down 5.27% over the past week and 2.59% over the past month, slipping from a 52-week high of $317.40. Valuation fatigue is part of the issue.
After a 46.73% one-year run, the trailing P/E sits at 35. With a beta of 1.086, the stock moves with the market and amplifies drawdowns when sentiment turns. Tariff overhang and the perception that Apple Intelligence has lagged peers add to caution.
Wall Street Sees 7% Upside. My Model Says 15% Consensus is constructive but timid. The Street’s average target sits at $312.72, with 7 Strong Buys, 23 Buys, 15 Holds, 1 Sell, and 2 Strong Sells. Our base case lands higher at $335.04, an upside of 15.08%, with a bull case of $349.60 and a bear case of $286.99. Confidence on that base is high at 90%.
Analysts are anchored and have not updated for eight consecutive EPS beats or the 63% bullish tilt of the rating distribution. Earnings growth contribution of 21.8% YoY deserves a higher multiple than consensus implies.
The Path to $400 Per Share Reaching $400 from today’s price of $291.13 would require a gain of 37.4%. With forward EPS of $9.35, a price of $400 implies a forward P/E of 43x. Our base case of $335.04 already implies 35x, meaning the bold target requires roughly 8x of additional multiple expansion.
Why is that achievable? If Services compounds at 16.3% YoY, forward EPS expands and the multiple naturally compresses. Three catalysts can drive this.
First, Apple is officially a a NVIDIA (NASDAQ:NVDA) customer using Blackwell B200s to power the new Siri, putting real AI muscle behind the install base. Second, prediction markets price a 94.5% probability that a foldable iPhone ships before 2027. Third, Cook noted “double-digit growth across every geographic segment”, including a Greater China rebound. The primary risk is a tariff shock that crimps hardware margins.
The Valuation Case At $291.13, Apple trades at roughly 31x forward EPS of $9.35. That is rich versus the broad market, but the install base of 2.5 billion active devices and a $100 billion fresh buyback change the calculus. Shares sit between a 52-week low of $194.30 and a high of $317.40. AAPL has returned 1,212% over ten years. Multiple expansion has been earned repeatedly.
Is $400 Realistic? Reaching $400 by 2028 requires a 37.4% gain and a forward multiple of 43x. That is a stretch, but achievable.
Three things need to go right: Services growth must hold double digits, the AI-powered Siri rollout must drive an iPhone upgrade cycle, and the buyback must keep shrinking the share count. A tariff escalation that compresses hardware gross margin would derail the path. We’ve outlined the blueprint for how Apple could reach $400 in 2028.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Apple (AAPL - Free Report) .
Apple currently has an average brokerage recommendation (ABR) of 1.91, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 43 brokerage firms. An ABR of 1.91 approximates between Strong Buy and Buy.
Of the 43 recommendations that derive the current ABR, 23 are Strong Buy and three are Buy. Strong Buy and Buy respectively account for 53.5% and 7% of all recommendations.
Brokerage Recommendation Trends for AAPL
Check price target & stock forecast for Apple here>>>
The ABR suggests buying Apple, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
ABR Should Not Be Confused With Zacks RankIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.
There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.
Should You Invest in AAPL?In terms of earnings estimate revisions for Apple, the Zacks Consensus Estimate for the current year has increased 0% over the past month to $8.75.
Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Apple. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, the Buy-equivalent ABR for Apple may serve as a useful guide for investors.
Tesla (TSLA - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Shares of this electric car maker have returned -3.7% over the past month versus the Zacks S&P 500 composite's +0.5% change. The Zacks Automotive - Domestic industry, to which Tesla belongs, has lost 4.4% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For the current quarter, Tesla is expected to post earnings of $0.45 per share, indicating a change of +12.5% from the year-ago quarter. The Zacks Consensus Estimate has changed -2.6% over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $1.99 points to a change of +19.9% from the prior year. Over the last 30 days, this estimate has changed -1.3%.
For the next fiscal year, the consensus earnings estimate of $2.56 indicates a change of +28.7% from what Tesla is expected to report a year ago. Over the past month, the estimate has changed -0.3%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Tesla.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of Tesla, the consensus sales estimate of $24.32 billion for the current quarter points to a year-over-year change of +8.1%. The $100.93 billion and $113.02 billion estimates for the current and next fiscal years indicate changes of +6.4% and +12%, respectively.
Last Reported Results and Surprise HistoryTesla reported revenues of $22.39 billion in the last reported quarter, representing a year-over-year change of +15.8%. EPS of $0.41 for the same period compares with $0.27 a year ago.
Compared to the Zacks Consensus Estimate of $21.92 billion, the reported revenues represent a surprise of +2.12%. The EPS surprise was +13.89%.
Over the last four quarters, Tesla surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.
ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Tesla is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Tesla. However, its Zacks Rank #4 does suggest that it may underperform the broader market in the near term.
Key Takeaways Coca-Cola is using cost-saving and productivity efforts to support profitability amid inflation.KO's Comparable operating margin expanded 70 bps in Q1'26 despite a 30-bps gross margin decline.A planned Africa bottling divestiture could improve Coca-Cola's margin profile in late 2026. The Coca-Cola Company (KO - Free Report) continues to prioritize cost-saving and productivity initiatives to support profitability despite a challenging inflationary environment. Management acknowledged ongoing commodity pressures, particularly in tea and coffee, as well as higher costs across portions of its global supply chain. However, Coca-Cola remains confident that these headwinds are manageable due to its established cost-management framework and operational efficiencies.
A key element of Coca-Cola’s strategy is its cross-enterprise procurement organization, which works closely with bottling partners to improve productivity and supply-chain resilience. Management has developed a playbook in the past several years to navigate disruptions and inflationary pressures. This includes leveraging procurement scale, deploying revenue growth management capabilities and implementing market-specific cost controls. The company believes that these tools provide the agility needed to address rising input costs while maintaining competitiveness.
The benefits of these initiatives were evident in the first quarter of 2026. While the comparable gross margin declined 30 basis points (bps) due to commodity inflation, inventory-cost phasing and trade-spend timing, the comparable operating margin expanded 70 bps. Management attributed this improvement to operating expense efficiencies, demonstrating Coca-Cola’s ability to offset cost pressures while continuing to invest in its brands and growth initiatives.
Coca-Cola expects additional opportunities for margin expansion, particularly if the planned divestiture of Coca-Cola Beverages Africa closes in the second half of 2026. The sale would reduce exposure to lower-margin bottling operations, potentially improving the company’s overall margin profile. Combined with ongoing productivity measures and disciplined cost management, Coca-Cola appears well-positioned to protect profitability even as macroeconomic uncertainty and commodity volatility persist.
KO’s Peers: PEP & KDP’s Cost-Saving InitiativesLike Coca-Cola, peers PepsiCo Inc. (PEP - Free Report) and Keurig Dr Pepper Inc. (KDP - Free Report) are relying on cost-saving and productivity initiatives to protect margins and support earnings growth amid an inflationary and uncertain operating environment.
PepsiCo continues to leverage productivity and cost-saving initiatives to enhance profitability amid a volatile operating environment. In the first quarter of 2026, the company delivered a 9% increase in core operating profit and a 9% rise in core EPS, supported by record productivity savings. Management highlighted structural productivity programs, operational excellence efforts and disciplined cost management as key drivers of margin expansion. These savings are also helping fund brand investments, innovation and affordability initiatives while mitigating ongoing cost pressures.
Keurig Dr Pepper is pursuing productivity and efficiency initiatives to help offset inflationary pressures and support profitability. In first-quarter 2026, productivity savings partially mitigated elevated input costs, including higher green coffee, tariff and packaging expenses. The company also benefited from transportation and warehousing efficiencies, which helped keep SG&A expenses in check. Management expects cost pressures to ease in the second half of 2026, while ongoing productivity programs and synergy benefits from the JDE Peet’s acquisition should further support margin improvement and earnings growth.
KO’s Price Performance, Valuation & EstimatesShares of Coca-Cola have risen 6.2% in the past three months compared with the industry’s return of 5.3%.
Image Source: Zacks Investment Research
From a valuation standpoint, KO trades at a forward price-to-earnings ratio of 24.56X compared with the industry’s average of 19.51X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for KO’s 2026 and 2027 earnings per share implies year-over-year growth of 8.7% and 6.9%, respectively. Estimates for the aforesaid years have been unchanged in the past 30 days.
Image Source: Zacks Investment Research
Coca-Cola currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways Uber's gross bookings rose 25% to $53.7B in Q1 2026, topping estimates on mobility and delivery growth. Grab's On-Demand GMV grew 21% in Q1 2026, with 2026 revenues projected to rise 20-22%. Uber emerges as the better pick than Grab, backed by diversification, buybacks and a favorable valuation. Uber Technologies (UBER - Free Report) and Grab Holdings (GRAB - Free Report) are prominent players in the ride-hailing space, having transformed urban transportation through their innovative ride-sharing business models.
Despite operating in the same broad industry, the two companies differ significantly in their geographic reach and business focus. Uber maintains a global presence, while Grab has established itself as a leading provider of mobility, delivery and digital financial services across eight Southeast Asian markets — Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Although ride-sharing remains Uber’s core business, it has expanded offerings over the years to include food delivery and freight services.
Given their differing strategies and regional footprints, a closer comparison is warranted to determine which company currently has the advantage and, more importantly, which may represent the more compelling investment opportunity today.
The Case for UberUber is based in San Francisco, CA. Its ridesharing and delivery platforms are growing in popularity. This is generating strong demand, which, along with the latest growth initiatives and continued cost discipline, is driving the company’s results.
Uber released its first-quarter 2026 results in May, reporting better-than-expected earnings per share. This was the third time in the last four quarters that Uber outpaced earnings expectations, showing resilience despite tough conditions. The company reported lower-than-expected earnings per share in the other quarter.
Uber Price, Consensus and EPS SurpriseUber continues to benefit from strong growth in gross bookings, driven by steady demand across its platform. The company has been recording solid double-digit growth in gross bookings across both its mobility and delivery businesses.
Despite the crisis in the Middle East, Uber’s Mobility business saw impressive demand, with segmental revenues increasing 5% year over year on a reported basis and 1% on a constant currency basis to $8.2 billion.
Gross bookings from Uber’s Mobility business were highly impressive in the first quarter of 2026. Gross bookings from the Mobility segment in the March quarter increased 20% year over year on a constant-currency basis to $26.4 billion.
Uber’s Delivery business also performed well in the quarter, with segmental revenues growing 23% year over year on a constant-currency basis. Gross bookings from the Delivery segment in the first quarter rose 23% year over year on a constant-currency basis to $26 billion. Total gross bookings jumped 25% to $53.7 billion, ahead of the Zacks Consensus Estimate of $52.9 billion.
The gross bookings forecast for the second quarter of 2026 was very impressive, highlighting the bullishness surrounding the key metric. Despite the ongoing tensions in the Middle East and the resultant fuel price spike, gross bookings are projected in the range of $56.25-$57.75 billion, highlighting growth of 18% to 22% year over year on a constant-currency basis. The outlook assumes a roughly 2 percentage-point currency tailwind to total reported year-over-year growth.
Uber aims to gain a stronghold in the highly promising robotaxi market through strategic partnerships. By adopting this approach, Uber has avoided the massive R&D costs associated with developing autonomous systems independently. Moreover, Uber has engaged in numerous acquisitions, geographic and product diversifications, and innovations. Uber’s endeavors to expand into international markets are commendable and provide it with the benefits of geographical diversification.
Another area of confidence is Uber’s buyback strategy. In 2018, Uber, which went public in 2019, sold its business in Southeast Asia to Grab. Uber has a significant stake in Grab.
The Case for GrabGrab's ability to adapt to local conditions is a key contributor to its success in Southeast Asia. Moreover, Grab’s evolution from a taxi-hailing app into an "everyday everything app" offering various services, including food delivery, e-scooter rentals and digital payments, is commendable and highlights its desire to expand.
Grab is benefiting from strong growth in the On-Demand Gross Merchandise Value (“GMV”), expanding fintech offerings, and increasing user engagement across its platform. On-demand GMV refers to the sum of GMV of the mobility and deliveries segments. In the first quarter of 2026, On-Demand GMV increased 21% (on a constant currency basis) year over year. Grab expects 2026 revenues between $4.04 billion and $4.1 billion, indicating 20-22% year-over-year growth.
Grab Price, Consensus and EPS SurpriseGrab is strengthening its position across Southeast Asia by partnering with Amazon’s (AMZN - Free Report) cloud computing platform — Amazon Web Services (“AWS”) — to drive growth in mobility, deliveries and financial services.
The company selected AWS as its preferred cloud provider to accelerate growth across its mobility, deliveries and financial services verticals, including the digital banks. Grab has enhanced operational efficiency, reduced infrastructure costs and launched innovative services by utilizing AWS’ scalable, secure and cost-efficient cloud solutions.
How Does the Zacks Consensus Estimate Compare for UBER & GRAB?The Zacks Consensus Estimate for Uber’s full-year 2026 and 2027 sales implies a year-over-year rise of 11% and 15.4%, respectively. EPS estimates for 2026 indicate a year-over-year decline of 44.3%, while the same for 2027 implies a year-over-year improvement of 49.8%. EPS estimates have remained stable over the past seven days for 2026 as well as 2027.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Grab’s full-year 2026 and 2027 sales implies a year-over-year rise of 21.4% and 20.3%, respectively. EPS estimates for 2026 and 2027 indicate year-over-year improvements of 33.3% and 68.8%, respectively. Like Uber, EPS estimates at Grab have remained stable over the past seven days for 2026 and 2027.
Image Source: Zacks Investment Research
Grab Appears to Be More Pricey Than UberUber is trading at a forward sales multiple of 2.27X and has a Value Score of C. Meanwhile, Grab has a Value Score of D, with its forward sales multiple at 3.03X.
Image Source: Zacks Investment Research
ConclusionUber’s diversification efforts and shareholder-friendly approach attest to its financial bliss. The company’s large size (market capitalization of $140.15 billion) positions it well to overcome uncertain times, such as the current one. Uber’s favorable valuation picture adds to its appeal.
Grab, on the other hand, has a much narrower geographical focus, making it highly susceptible to economic downturns like the current scenario. The economic uncertainty in key Southeast Asia markets, caused by factors like inflation, high fuel prices due to the United States-Iran war, changing consumer behavior and supply-chain disruptions, is hurting Grab. The much smaller Grab, with a market capitalization of $13.52 billion, is not shareholder-friendly, unlike its larger rival.
On the basis of our analysis, Uber emerges as a clear winner compared with Grab, despite both carrying a Zacks Rank #3 (Hold) currently. As a result, Uber seems a better pick than Grab at present.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Google sign is pictured outside the Google office in Berlin, Germany, August 31, 2021. REUTERS/Annegret Hilse//File Photo Purchase Licensing Rights, opens new tab
June 15 (Reuters) - A Chinese-linked hacking group spent more than a year secretly stealing data from U.S. and Canadian academic, medical and military research institutions, before being detected, Google said on Monday.
Between September 2023 and November 2025, the hackers sought information related to defense intelligence, military strategy in the Indo-Pacific, artificial intelligence, unmanned vehicles, cyber warfare programs and medical research, Google’s Threat Intelligence Group said in a report, opens new tab.
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Google did not name the targeted organizations, but said their work covered a broad range of fields, from drug discovery and clinical trials to public health policy and military readiness, and that they collectively employ thousands of people with a combined research budget running into the billions of dollars.
Google has attributed the campaign to a hacking group it calls UNC6508, a relatively new and little-known cyberespionage player. Luke McNamara, deputy chief analyst at Google Threat Intelligence Group, said the organization's methods are broadly consistent with Chinese-linked hacking activity seen over many years, focused on gathering information likely to be of interest to the Chinese government.
The Chinese Embassy in Washington did not immediately respond to a request for comment. Beijing regularly denies carrying out or condoning illicit hacking activity.
The earliest known activity tied to the campaign dates to September 2023, when the hackers exploited vulnerabilities in servers running REDCap, a web application widely used by nonprofits to build and manage online surveys and databases. Using custom-built malicious software, the hackers stole legitimate REDCap login credentials to gain access to the targeted networks. They then set up a system to automatically forward emails containing any of nearly 150 keywords and search terms to a Gmail account they controlled, the researchers said.
REDCap did not respond to a request for comment.
The keywords and search terms included phone numbers and email addresses for people at targeted organizations, as well as terms related to geo-strategic policy, military strategy, advanced technology, and medical research.
Google eventually identified multiple compromised organizations across the U.S. and Canada and notified each of them, the researchers said.
Reporting by AJ Vicens in Detroit; Editing by Sanjeev Miglani
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Cybersecurity correspondent covering cybercrime, nation-state threats, hacks, leaks and intelligence
Key Takeaways Amazon is ramping India investment with a $35B plan spanning cloud, AI and e-commerce logistics.AWS growth hit 28% YoY, driving a $150B run rate and fueling Amazon's global AI expansion strategy.High capex, lower free cash flow and rising competition temper near-term upside despite strong momentum. Amazon (AMZN - Free Report) -owned AWS hosted the Amazon Summit India Online, its most recent India-focused event, reaffirming the company's deepening commitment to one of the world's fastest-growing digital markets — and keeping investor attention firmly on how the company intends to convert its $35 billion India pledge into long-term shareholder value.
The virtual summit featured keynote replays from the in-person AWS Summit Bengaluru editions, technical sessions on agentic AI, and hands-on workshops on Amazon Bedrock Guardrails and next-generation Amazon SageMaker, all showcasing the tools AWS is deploying specifically to serve Indian enterprises at scale. The $35 billion investment, announced in December 2025, spans cloud infrastructure, e-commerce logistics, AI services for small businesses, and an AI literacy program targeting four million government school students, with the broader goal of boosting cumulative e-commerce exports enabled through Amazon's platform to $80 billion by 2030 while supporting 3.8 million direct, indirect, induced and seasonal jobs.
AWS also hosted the AWS Summit Bengaluru Technical Edition, spotlighting India-focused tools including Amazon Bedrock AgentCore and Amazon Nova. The company maintains cloud regions in Mumbai and Hyderabad, each with three availability zones, and is advancing plans for a major 473MW data center campus near Navi Mumbai. Federal agencies in India are also set to access Amazon SageMaker AI, Amazon Bedrock and Amazon Nova through AWS, deepening its public sector footprint in the market.
Amazon shares have jumped 7.2% in the past six-month period against the Zacks Internet – Commerce industry and the Zacks Retail-Wholesale sector’s decline of 1.7% and 0.1%, respectively.
AMZN’s 6-Month Price Performance
Image Source: Zacks Investment Research
Amazon's AI Tool Stack for India: From Bedrock to KiroRecently, AWS presented its India AI offerings as a tightly integrated stack. Amazon Bedrock served as the centerpiece: a managed platform for accessing foundation models, now paired with Amazon Bedrock Guardrails featuring multimodal toxicity detection and safety controls for responsible AI deployment. Amazon Bedrock AgentCore — designed to deploy and operate AI agents at enterprise scale with built-in memory management, identity controls and tool integration — was highlighted as the enterprise-grade orchestration layer for production agentic workflows. Amazon Nova, AWS' multimodal AI model family, was demonstrated live at the AWS Village across interactive generative AI use cases. Kiro, AWS' specification-driven agentic IDE, was presented as a developer productivity accelerator — having already compressed enterprise development timelines from weeks to days in real-world deployments.
Next-generation Amazon SageMaker, now a unified platform combining data, analytics and AI workflows, alongside AWS Transform — which gained new migration assessment and TCO evaluation capabilities in May 2026 — and Amazon Quick, an AI work assistant, completed the stack. Together, these tools give AWS a full-spectrum India AI portfolio spanning model access, agent orchestration, developer tooling and enterprise cloud migration.
Forward Guidance Signals Momentum, With Near-Term CaveatsAmazon's India commitment arrives on the heels of a strong first-quarter 2026 performance. Total net sales reached $181.5 billion, up 17% year over year, while AWS growth accelerated to 28% year over year — the fastest in 15 quarters — establishing a $150 billion annualized revenue run rate. The powerful AWS engine driving the results is precisely what Amazon intends to scale across India, offering Bedrock, SageMaker and digital payments infrastructure to enterprises and government agencies alike.
Amazon's second-quarter 2026 guidance calls for net sales between $194 billion and $199 billion, implying 16% to 19% year-over-year growth, with operating income of $20 billion to $24 billion versus $19.2 billion a year earlier. Guidance assumes Prime Day in the second quarter for most major geographies, while India will see Prime Day in the third quarter. Management flagged seasonally higher stock-based compensation, fuel-related transportation costs, and a roughly $1 billion year-over-year headwind from the Amazon Leo satellite program. Trailing 12-month free cash flow declined to $1.2 billion from $25.9 billion as property and equipment purchases rose to $59.3 billion, primarily reflecting large-scale AI infrastructure investment globally. Amazon's full-year 2026 capex budget of approximately $200 billion continues to weigh on near-term investor sentiment, even as management frames it as a long-duration bet on future revenue and free cash flow generation.
The Zacks Consensus Estimate for AMZN’s 2026 earnings is pegged at $8.85 per share, indicating a 23.43% increase from the figure reported in the year-ago quarter.
Catalysts and Headwinds Remain BalancedThe AI-driven demand environment forms the core bull case. OpenAI's expanded AWS commitment, Amazon's deepened Anthropic partnership, and Pinterest's $4 billion AWS cloud deal announced in May 2026 — centered on AWS Trainium and Graviton chips for AI model training and inference across more than 600 million monthly users — collectively reflect durable enterprise and hyperscale demand for AWS infrastructure. India's large developer community, growing enterprise cloud adoption and government-backed digitization programs represent a compelling multi-year revenue runway that Amazon's early infrastructure advantage and expanding local footprint uniquely position it to capture at a significant scale.
However, the International segment's operating margin of 3.6% in first-quarter 2026 remains significantly below North America's 7.9%, and India demands substantial upfront capital with returns likely materializing only over a multi-year horizon. Tariff volatility and a roughly 10-basis point foreign exchange headwind flagged for the second quarter add meaningful macroeconomic complexity, while memory and storage component cost inflation cited by management poses an ongoing margin risk that investors should track carefully through the balance of 2026.
AMZN's Valuation & Competition RemainAMZN appears overvalued at a forward 12-month price/earnings ratio of 25.43X, higher than the industry’s 21.33X. Amazon has a Value Score of D. Microsoft (MSFT - Free Report) Azure posted 40% revenue growth in first-quarter 2026, committed $17.5 billion to India AI infrastructure through 2029, and is adding a fourth India cloud region mid-2026 while expanding its Azure Copilot suite. Alphabet’s (GOOGL - Free Report) Google Cloud delivered 63% growth in the first quarter of 2026 and broke ground on a $15 billion India AI hub in Visakhapatnam; Google and Oracle jointly launched Oracle Database@Google Cloud in India. Oracle (ORCL - Free Report) expanded OCI in Mumbai and Hyderabad, deployed Oracle AI Database across both Indian regions and is deepening multicloud ties with Microsoft to pressure AWS on enterprise deals.
AMZN’s Valuation
Image Source: Zacks Investment Research
The Verdict: Hold or Wait for a Better EntryAmazon's $35 billion India bet, backed by record AWS growth and a deepening AI portfolio, positions the company for long-term digital leadership. Elevated valuation, compressed near-term free cash flow and intensifying competition from Microsoft, Google and Oracle, however, make holding or patiently awaiting a more attractive entry the prudent near-term approach. Amazon currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Microsoft (MSFT +2.44%) is caught between powerful AI momentum and rising investor doubts about capex, margins, and execution risk. The stock's valuation reset may look worrying, but Azure growth, agentic AI, and a quantum breakthrough could point to stronger long-term earnings power if the company can monetize its spending effectively.
Stock prices used were the market prices of June 8, 2026. The video was published on June 14, 2026.
Rick Orford has positions in Microsoft. The Motley Fool has positions in and recommends Microsoft. The Motley Fool has a disclosure policy. Rick Orford is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
Microsoft has been sued by shareholders who accused the company of defrauding them and inflating its stock price by failing to disclose slowing growth in its Azure cloud business and the need to spend billions of dollars on AI infrastructure.
The Microsoft (NASDAQ:MSFT | MSFT Price Prediction) Build event was packed, and while it didn’t do many favors for the share price, which has continued to fall under a considerable amount of pressure, I do think there were a ton of intriguing innovations that could help improve the enterprise giant’s footing in the AI race over the long haul. As Microsoft shared more details on its brand-new in-house models, MAI, the firm also offered a glimpse of its racer that’s moving in parallel with OpenAI in this AI race.
What’s better than having a close connection with one of the best frontier AI labs on the planet? Having two horses in the race, which just improves the odds of winning. It’ll be interesting to see where the MAI family of models goes as OpenAI simultaneously moves ChatGPT ahead. With the impressive Microsoft IQ context layer and Microsoft Scout, an autopilot agent that offers a taste of the agentic future, it’s hard not to be excited about Microsoft again.
As Copilot starts picking up speed while these other next-generation AI innovations come into their own, perhaps it won’t take all too long before Microsoft stock gets off the tarmac, perhaps after clocking in an outstanding quarter that causes a rush back into the name. Either way, Pershing Square’s Bill Ackman is smart for being so heavily invested in the shares at these depths. The market might be missing something with the name.
The MAI family of models is intriguing Of course, MAI still has ground to catch up if it’s to be considered a leader in the AI race, one that Anthropic seems to be leading, especially in coding. Claude Code has been the big innovation that’s transformed how developers code. What’s more, though, is that Microsoft’s MAI-Code-1 is a step towards building a model that can stand toe-to-toe with the very best.
With deep integration within the Microsoft ecosystem and unification with GitHub, MAI certainly stands out as an intriguing contender in the AI-coding race. If we’re to get on the road to recursive self-improvement (RSI), coding skills will need to be a priority for AI innovators at the cutting edge.
While MAI-Code-1 isn’t dethroning Claude Code anytime soon, especially given its impressive deep reasoning, I do think that Microsoft’s model has its own share of wins, most notably for efficiencies. In an era that’s souring on token-maxxing, perhaps efficiencies are where it’s at. Over the long run, I do think MAI holds tremendous promise, especially given Microsoft’s context moat in the enterprise. It’s the first step of many as the AI revolution shifts into agentics.
MAI-Code-1 might not be a Claude Code beater yet, but it’s solid in its own right Either way, though, MAI-Code-1 isn’t yet at the level of Claude Code, and, with that, I wouldn’t expect it to change the world in the way Claude Code has. Its agentic autonomy is profoundly powerful. But that’s not to say that a future version of MAI-Code won’t be more competitive in autonomy, perhaps after the early efficiency gains are grabbed. In the meantime, look for Microsoft developers to adopt the technology.
Perhaps there is no better way to test out a new coding model than to put it in the hands of one’s own team. Of course, time will tell when Claude Code will be completely phased out over at Microsoft. It sounds like they’re ready to move on after reports surfaced last month that the firm is starting to cancel Claude Code licenses. Things are changing fast, but investors would be wise not to count Microsoft out of the game, especially while shares are going for so cheaply.
AMD (AMD, Financials) remains a favorite among some analysts as the company pushes deeper into AI chips.
Wolfe Research reiterated its Outperform rating on the stock, pointing to AMD's upcoming GPU roadmap and expanding AI opportunity. The firm kept a $450 price target, even though AMD is already trading above that level after a major rally.
The focus is now on AMD's next AI products. The company is expected to share more details on its MI500 series at a July event, with MI600 deployment expected about 12 to 15 months after that.
For investors, the story is encouraging but not risk-free. AMD has strong momentum, but the stock has already priced in a lot of optimism. The next test will be whether new AI chips can translate into real customer wins and stronger revenue growth.
Advanced Micro Devices AMD stock price has soared this year, making it one of the top gainers on Wall Street.
It jumped by 133% this year, bringing its market capitalization to over $834 billion.
This article explores why it may be the next big name to hit a $1 trillion market cap.
The ongoing artificial intelligence boom has pushed several companies to the exclusive $1 trillion club.
Some of the most notable of them are SK Hynix, Samsung, Broadcom, and Micron.
AMD, which is run by Jensen Huang’s cousin, could be the next big entrant to this club.
With its valuation at $834 billion, the company needs to jump to at least $613 to get to that milestone.
The stock peaked at $546 earlier this month.
There are signs that the stock will jump to that milestone.
One of the most notable ones is its technicals, which indicate that the stock has the momentum to achieve that.
The daily chart shows that the AMD stock price made a strong bullish breakout in April this year.
Before that, it had remained inside a narrow range of between $194 and $265 for months.
That is a sign that it has now moved to the markup phase of the Wyckoff Theory, which is characterized by more demand.
AMD stock has remained above the 50-day and 100-day Exponential Moving Averages (EMA), which have provided it with substantial support over time.
It has also crossed the important ultimate resistance level of the Murrey Math Lines tool.
That is a sign that it is not yet in the overbought zone.
Therefore, more gains towards the key point of $613 will be confirmed if it jumps above the key resistance level of $546, its highest point this year.
A move above that level will invalidate the forming double-top point and signal more gains ahead.
AMD stock chart | Source: TradingView
READ MORE: Nvidia, AMD, Arm stocks rally as BofA sees $170B agentic AI opportunity
Fundamentally, AMD’s business is doing well, with demand for its products continuing to grow.
The most recent results show that its revenue growth continued, reaching $10.3 billion, up by 38% from the same period last year.
This growth was mostly driven by its data center business, which made over $5.7 billion in revenue.
The client & gaming business made $3.6 billion, while its embedded segment rose by just 6%.
Wall Street analysts are optimistic that AMD’s revenue and margin growth will accelerate in the coming years. The average estimate is that its revenue will jump by 42% to $50 billion, followed by $76 billion next year.
Still, the company faces some major headwinds. The biggest one is that Nvidia is encroaching on its CPU territory. It recently launched Windows chips that it hopes will gain market share in the future.
Nvidia’s entry means that there are now three major players in the CPU industry: AMD, Nvidia, and Intel.
There is a possibility that Nvidia will take some share of its business soon.
The other risk is its valuation, which is quite rich compared to its peers.
It has a forward price-to-earnings ratio of 94, much higher than the sector median of 32. Its multiple is also higher than Nvidia’s 22.
This likely explains why analysts from companies like Citigroup, Barclays, Wolfe Research, and Zacks downgraded their outlooks.
The equity is tracking among the session's top performers as momentum builds.
JP Morgan Lifts Price ForecastJP Morgan analyst Sandeep Deshpande maintained an Overweight rating on Nokia and raised the price forecast significantly from $14 to $21.
The substantial target increase provided an immediate lift to market sentiment, fueling the upward price movement early in the trading session.
Agentic AI Upgrades Drive MomentumThe analyst upgrade builds upon a stream of positive operational announcements.
International 5G Expansion and NVIDIA CollateralSecuring a hardware anchor for its software evolution, Nokia announced a multi-year partnership expansion in Indonesia with Indosat Ooredoo Hutchison.
The initiative aims to push mid-band 5G coverage to approximately 80% of the network over the next 3.5 years.
Furthermore, this 5G buildout ties into an AI Grid deployment and AI-RAN architecture with NVIDIA Corp., with field trials slated for the end of 2026.
The company is also pairing these announcements with security-focused products, including its Deepfield Genome Shield for proactive, network-wide DDoS detection.
Nokia Stock: Key Technical Levels To WatchNokia is trading 1.6% above its 20-day SMA ($14.92), and it's also well above the 50-day SMA ($12.77) and 200-day SMA ($8.01), which keeps the intermediate and long-term trend pointed up. The 20-day SMA is above the 50-day SMA (bullish), and the 50-day SMA remains above the 200-day SMA after the golden cross in October 2025—typically a longer-term trend confirmation signal.
Momentum, however, is more steady than overheated right now, with RSI at 53.84.
NOK Price Action: Nokia shares were up 1.82% at $15.07 during premarket trading on Monday, according to Benzinga Pro data.
Photo by Mercurious via Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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This article was written and reviewed by Doug Nathman and his team at Trefis. For questions, email [email protected].
As the market concentrates on inventory issues and weaknesses abroad, a pivotal segment is thriving, providing a compelling strategy for the company’s resurgence.
It’s not difficult to uncover reasons for pessimism regarding Nike (NKE) stock. Shares have declined by 26% over the previous year, with the news cycle consistently highlighting challenges such as inventory management, difficulties in China, and a recovery that management concedes is progressing slower than desired. The stock’s price-to-sales ratio of 1.7 is at the lower end of its decade-long range, indicating that the market anticipates a prolonged, tough recovery ahead.
Projecting sign with Nike swoosh logo outside retail store against blue sky and high-rise buildings, San Francisco, California, May 13, 2025. (Photo by Smith Collection/Gado/Getty Images)
Gado via Getty Images
However, amidst the clamor of this widespread adjustment, one statistic paints a remarkably different picture. It’s a figure that implies the company’s refreshed approach is not just theoretical but is already yielding results where it has been fully implemented.
The Engine Is Already FunctioningThis figure represents the growth in Nike’s Running division. In the latest quarter, management disclosed that Nike Running experienced an increase of over 20%. This was not a one-time occurrence. It follows a preceding quarter where, according to the company, Running also grew by more than 20% for the second consecutive quarter.
Consistent growth exceeding 20% in a key performance category is notable in itself. Nonetheless, its true significance lies in what it signifies about the company’s overarching strategy. This is not merely one successful product line; it represents the first tangible evidence of a company-wide operational transformation.
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A Strategy For The Entire PortfolioThe mechanism at play here is vital. Management has made it clear that the Running division serves as the prototype for its new sports offense. As the CEO articulated, NIKE Running was the first team to adopt the sports offense; it has established the blueprint for other sports teams to follow.
This implies that success in Running offers a framework for rectifying other segments of the business. The strategy encompasses a transparent product pipeline informed by athlete insights, tailored assortments for varied retail channels, and enhanced storytelling. By demonstrating that the model is effective in its most significant performance sport, Nike provides investors with a concrete rationale to believe it can be duplicated across its entire portfolio, encompassing Football, Basketball, and beyond.
A Response To Turnaround ConcernsThis is exactly what helps address the primary risk burdening the stock: that the recovery is proceeding too slowly and the challenges are too extensive. Skeptics justifiably point to the headwinds in Sportswear, which fell by low double-digits in the quarter, along with a 10% drop in revenue in Greater China. These represent serious hurdles.
Nonetheless, the growth in Running illustrates that where Nike has concentrated its new effort, it is succeeding. It offers a high-growth driver while the company navigates the intentional and challenging reduction of more than $4 billion in revenue from its traditional footwear lines. It serves as evidence that the complex task of re-balancing the business from a direct-to-consumer-first model to a more integrated and elevated marketplace has precedent within the company.
For investors willing to look beyond the current challenges, the critical question is whether this growth exceeding 20% is an isolated achievement or the leading indicator of a much wider recovery. The key now is to monitor if other categories, such as Global Football, begin to follow a similar trend.
Additionally, see how wholesale retail giants are navigating strategic decisions in our analysis.
Here Is The Discomforting AspectThis is the candid part. Even a well-supported argument can be incorrect, and even when the thesis holds, the timing may be premature. The most accomplished investors routinely misjudge individual stocks and specific moments because no single number, however persuasive, dictates a company’s future performance.
The 2026 Cannabis Wildcard: How Tax Reform Could Reset Stock ValuationsCanopy Growth NASDAQ: CGC reported higher fiscal fourth-quarter revenue and said it entered fiscal 2027 with a stronger balance sheet following a year of restructuring, cost cuts and the acquisition of MTL Cannabis.
On the company’s earnings call, Chief Executive Officer Luc Mongeau described fiscal 2026 as “a defining year” for Canopy Growth, saying the company streamlined its operations, reset its cost base and reallocated resources toward areas it sees as offering stronger long-term returns.
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Constellation Brands: A Fallen Star or a Hidden Value Play?“These actions are now beginning to show up in the business,” Mongeau said. He cited full-year net revenue growth of 20% in Canada adult-use cannabis and 18% in Canada medical cannabis, along with what he called improved execution across the company’s platform.
Fourth-quarter revenue rises 10% Chief Financial Officer Tom Stewart said Canopy reported net revenue of CAD 71.2 million in the fourth quarter of fiscal 2026, up 10% from the same quarter a year earlier. Cannabis net revenue was CAD 54.5 million, an increase of 20% year over year.
Profit from the Green Wave: Top Cannabis Stocks to WatchThe company’s Canada medical cannabis business delivered CAD 25.3 million in fourth-quarter revenue, up 27% from a year earlier and marking what Stewart called another record quarter. He said the growth was driven by continued expansion in insured patient registrations and efforts to improve the service experience for medical consumers.
International cannabis revenue was CAD 8.6 million in the quarter, up 68% year over year. Stewart said the increase was largely driven by growth in Poland and Germany, where supply chain improvements helped deliver another quarter of growth.
For the full fiscal year, Mongeau said total net revenue increased 6% to CAD 285 million, driven by growth in the Canadian medical and adult-use businesses. He said Canada medical posted positive year-over-year growth in all four quarters, supported by a larger product assortment and increased order sizes as Canopy expanded its insured customer base.
MTL Cannabis integration begins Mongeau called Canopy’s acquisition of MTL Cannabis the “defining milestone” of the year, saying the transaction established Canopy as the leading Canadian medical cannabis business by revenue. MTL had been part of Canopy for two months at the time of the call.
The company is already executing on CAD 6 million of a targeted CAD 10 million in annualized cost synergies, Mongeau said. Stewart said the savings include the elimination of MTL public company costs, headcount reductions and the rationalization of redundant facilities. Canopy expects to reach its CAD 10 million run-rate savings target within 18 months of the transaction closing.
Stewart said Canopy has decided to close its cultivation facility in Kelowna, British Columbia, as it focuses on scaling cultivation capacity at its GMP-certified Kincardine facility and MTL’s facilities in Quebec.
Mongeau said the benefits of the MTL deal extend beyond cost savings, noting that Canopy is using its distribution platform to expand the reach of MTL products, including a recently announced launch of MTL strains in Germany. He also said MTL’s cultivation capabilities are being shared more broadly across Canopy’s network.
Margins affected by acquisition-related inventory charges Canopy’s cannabis gross margin in the fourth quarter was CAD 3.7 million, or 7% of net revenue. Stewart said the margin was below the company’s typical range primarily because of CAD 10.7 million in inventory-related charges tied to the MTL acquisition.
As part of the integration, Canopy conducted a review of the combined inventory and product portfolio and chose to reduce redundant and overlapping inventory, Stewart said. The company also recognized costs associated with the accounting step-up on acquired inventory balances.
Excluding acquisition-related charges, Stewart said adjusted gross margin for the cannabis segment was 26% in the fourth quarter, compared with 12% in the prior-year period.
The company reported an adjusted EBITDA loss of CAD 6 million in the fourth quarter, a CAD 3 million improvement from the prior year but higher than the CAD 3 million loss in the third quarter. Stewart said that absent the inventory charges, Canopy would have shown sequential improvement and moved “significantly closer” to adjusted EBITDA breakeven.
Stewart said Canopy remains confident in reaching positive adjusted EBITDA during fiscal 2027, citing expectations for continued revenue growth and lower costs.
Balance sheet strengthens after recapitalization Canopy ended fiscal 2026 with CAD 365 million in cash after completing the MTL acquisition. Stewart said total debt stood at CAD 234 million, resulting in a net cash position of CAD 131 million.
Compared with the end of fiscal 2025, Stewart said Canopy improved its financial position by CAD 304 million, moving from net debt of CAD 173 million to net cash of CAD 131 million. He said the company now has greater financial capacity to support growth and potential inorganic opportunities.
Stewart also said Canopy did not make sales under its at-the-market program during the fourth quarter, but may use the program opportunistically in fiscal 2027 to support strategic priorities if they arise.
Fiscal 2027 priorities include Canada, Europe and profitability Looking ahead, Mongeau said Canopy is focused on capital allocation toward higher-return opportunities, cost management and execution. He said the company’s priorities include accelerating growth in Canadian recreational cannabis and Europe while pursuing positive EBITDA and positive cash flow.
In Canada adult-use cannabis, Mongeau said Canopy returned to growth in fiscal 2026 as net revenue increased 20%. He said growth was driven by innovation in categories such as infused pre-rolls, vape and THC flower. He added that May 2026 market share data showed Canopy had improved from the No. 8 overall ranking to No. 6.
Mongeau said the company’s longer-term aspiration is to become a top-three player in Canadian recreational cannabis. He pointed to opportunities in flower, pre-rolls, infused pre-rolls and vape, including the 510 vape category, where he said Canopy is “almost absent.”
In Europe, Mongeau said Canopy had reset operations to improve the flower supply chain, after earlier challenges in fiscal 2026. He said the company delivered strong sequential growth in the last two quarters and expects Europe to remain an important focus. Canopy is targeting expansion into the U.K. during fiscal 2027.
Storz & Bickel revenue declined for the year due to challenges in the U.S. and Germany, Mongeau said. He noted that the launch of the VEAZY vaporizer helped sales in a new category focused on affordability and portability. The company is now focused on cost optimization and a refreshed commercial approach in the U.S.
During the question-and-answer portion of the call, analysts asked about changes to Veterans Affairs Canada reimbursement, U.S. regulatory developments and Canopy’s cash balance. Stewart said reimbursement changes are expected to be a headwind for the Canadian medical business, but Canopy is taking pricing, product mix and retention actions intended to mitigate the effect on revenue, margin and adjusted EBITDA.
On the U.S., Mongeau said Canopy’s near-term focus remains Canada and international markets, where he said the company can create value more immediately. Still, he said Canopy is encouraged by U.S. regulatory changes and believes its investments, including Jetty, its affiliation with the Claybourne infused pre-roll brand and its investment in TerrAscend, position it to benefit as regulations evolve.
About Canopy Growth NASDAQ: CGCCanopy Growth Corporation is a leading Canadian cannabis company engaged in the production, distribution and sale of both medical and recreational cannabis products. Headquartered in Smiths Falls, Ontario, the company cultivates a diversified portfolio of offerings that includes dried flower, pre-rolled joints, oils, softgel capsules and edibles. Canopy Growth also markets derivative products such as beverages and wellness formulations under a range of brands, aiming to serve both patient and adult-use markets.
The company operates through multiple subsidiaries, including Tweed Inc, Spectrum Therapeutics and Tokyo Smoke, each targeting distinct consumer segments.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Canopy Growth Corporation (TSX:WEED, NYSE:CGC) reported a narrower quarterly loss and double-digit full-year revenue growth on Monday, as the Canadian cannabis company cited the acquisition of MTL Cannabis and a strategic recapitalization as key drivers of its turnaround effort.
The company posted an adjusted loss per share of $0.29 for its fiscal fourth quarter, missing analyst estimates, though the result represented a 71% improvement from the $1.01 loss in the same period a year earlier.
Revenue came in at $51.95 million, up 13.6% from $45.75 million a year ago, but also fell short of expectations.
For the full fiscal year ended March 31, 2026, Canopy said net revenue in its Canada adult-use cannabis segment grew 20%, while Canada medical revenue rose 18%.
The company completed its acquisition of MTL Cannabis during the fiscal year, a deal it said positions Canopy as Canada's leading medical cannabis company by revenue. Canopy also closed a strategic recapitalization in January 2026 that left it with $131.3 million in net cash at fiscal year-end.
CEO Luc Mongeau said the company used the year to reset operations and lay groundwork for expansion, with Europe emerging as a key target market.
"As the leading medical cannabis business in Canada by revenue, we are well positioned to extend that leadership into Europe," Mongeau said, describing the region as representing "enormous long-term opportunity."
Chief Financial Officer Tom Stewart pointed to balance sheet improvements as a risk-reduction measure that also expands the company's strategic options.
Canopy said it expects net revenue growth across the business in fiscal 2027 and projected that improvements in cultivation practices will contribute to meaningful gross margin gains. The company is targeting positive adjusted EBITDA for the fiscal year, though it cautioned that MTL Cannabis integration activities in the first half of the year mean stronger year-over-year improvements are expected in the second half.
Nvidia logo is seen in this illustration taken June 11, 2026. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab
CompaniesJune 15 (Reuters) - Nvidia (NVDA.O), opens new tab will raise $20 billion through a U.S. bond issuance, a source told Reuters on Monday, tapping the debt market to fund the massive capital requirements to produce cutting-edge AI chips.
The AI chip leader has not accessed investment grade bond market in five years, previously raising $5 billion in June 2021, the source familiar with the matter said, declining to be named as the plan was still private.
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The bond consists of seven tranches of notes, maturing as late as 2056, according to a term sheet seen by Reuters. A company spokesperson said Nvidia aims to use the proceeds for general corporate purposes, including the repayment and refinancing of outstanding notes.
Big Tech companies have signaled that spending on AI would not slow down, with combined outlays set to surpass $700 billion this year, up from around $400 billion in 2025.
Meta (META.O), opens new tab in October filed for its largest bond offering of up to $30 billion, while Alphabet (GOOGL.O), opens new tab last month disclosed its plans to sell Japanese yen-denominated bonds for the first time.
While Nvidia has not been building large-scale data centers, its chips, which are used in those servers, are seeing red-hot demand from companies looking to train, and run increasingly advanced models.
In order to keep pace with the fast-evolving AI sector, Nvidia has been investing heavily in building the most advanced processors, now releasing a new family of chips every year, each with higher AI capabilities than the last.
The company has $13.24 billion in cash and cash equivalents as of quarter ended April 2026. Nvidia shares were up 2% in early trading.
Goldman Sachs, J.P. Morgan and Morgan Stanley are the bookrunners.
Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar and Arun Koyyur
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Saeed Azhar is a Reuters financial journalist and part of the U.S. banking team, which covers Wall Street's biggest banks. He focuses on Goldman Sachs and Bank of America, and also writes about regional banks. Before moving to New York in July 2022, he led the finance team in the Middle East from Dubai, and also worked in Singapore, covering Southeast Asia finance.
Nvidia (NASDAQ: NVDA) stock could emerge as the biggest winner from the historic SpaceX (NASDAQ: SPCX) IPO, according to a new analysis from Lynx Equity.
In a note published on June 16, the firm argued that investors seeking exposure to the long-term benefits of SpaceX’s growth may be better off owning NVDA stock instead of SPCX shares.
The view comes after SpaceX completed the largest initial public offering in history, raising approximately $75 billion at $135 per share. The stock opened at $150 and closed its first trading session near $161, lifting the company’s valuation above $2 trillion.
SpaceX stock price chart. Source: Finbold Despite the attention surrounding SpaceX’s market debut, Lynx Equity believes the most significant financial impact could be felt across the semiconductor sector, particularly by Nvidia.
According to the analyst, the IPO improves the outlook for xAI and Terafab, two initiatives expected to drive substantial spending on artificial intelligence infrastructure and semiconductor manufacturing.
The firm noted that SpaceX’s valuation is increasingly tied to xAI, Elon Musk’s artificial intelligence business, which continues to expand its computing capacity through large-scale deployments of NVIDIA GPUs.
Increased spending on AI With fresh capital and greater financial flexibility following the IPO, SpaceX and xAI are expected to accelerate spending on AI training and inference infrastructure, supporting additional demand for NVIDIA’s AI accelerators.
Lynx Equity said NVIDIA offers a more attractive risk-reward profile than SpaceX because its business fundamentals are more tangible and directly linked to AI-driven revenue growth.
The analyst maintained a $250 price target on NVDA shares, citing continued growth in AI infrastructure spending and semiconductor capital investment.
A key driver of the bullish outlook is xAI’s growing demand for computing power. The company already operates the Colossus supercomputer, powered by hundreds of thousands of Nvidia GPUs, while continued AI expansion is expected to drive further hardware demand.
The report also pointed to multi-year GPU rental agreements with major cloud providers and NVIDIA’s upcoming Vera and Rubin platforms as catalysts for additional AI infrastructure spending.
At the same time, Lynx Equity said increased investment from SpaceX, xAI, and Terafab could also support the broader semiconductor industry.
The firm highlighted Lam Research, Applied Materials, ASML, and KLA, along with Micron, SanDisk, Seagate, and Western Digital, as potential beneficiaries. Google could also benefit from its GPU rental agreements with xAI.
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Nvidia Corporation's networking business is becoming a major growth driver, with photonic solutions reducing power consumption by roughly 40%. Vera CPUs create a new $20 billion market opportunity while expanding NVDA's role across the entire AI infrastructure stack. NVDA's Q2 revenue guidance of $91 billion implies a $364 billion annualized run rate before Rubin meaningfully contributes.
It looks like the Space Exploration Technologies (NASDAQ:SPCX) enjoyed quite a successful lift-off on Friday’s session, with the broad markets both enjoying a big up day as the $2.1 trillion whale found a spot without causing mass profit-taking elsewhere.
Now that the SpaceX IPO is in the record books, questions linger as to whether it’s worth buying up shares of Elon Musk’s space empire at more than $160 per share, close to 20% higher than the $135 per-share start. Indeed, if there is a pullback at some point, investors might have a chance to get a price of admission that’s closer to (or maybe even a bit lower than) the IPO price.
For those who are fine with letting the shares settle for a while longer, there are numerous other names that might be worth careful consideration. Just because IPO day was positive for the broad market does not mean there hasn’t been a good amount of profit-taking in other parts of the sector.
Arguably, the past week has been quite vicious, and perhaps it’s the lead-up to the SpaceX IPO that was the worst for the other mega-cap titans that some might have lightened up on to make room for Elon Musk’s space and AI titan.
In this piece, we’ll look at some names that aren’t SpaceX that might offer less hype and perhaps more value:
Nvidia There was much speculation about whether SpaceX would surge in value enough to become the world’s largest company. Though I wouldn’t rule out such a scenario over the next few years, I do think that the lead is for Nvidia‘s (NASDAQ:NVDA | NVDA Price Prediction) to keep for the time being. The stock is down around 13% after dragging in recent weeks. For those looking to rotate capital to a “new” kind of play, Nvidia is a natural name to hit the sell button on, especially now that momentum has trailed the likes of other AI plays.
Personally, I think Nvidia stock has suddenly become one of the best deep-value plays in the semiconductor industry. Sure, it’s the obvious play with a near-$5 trillion market cap. But just because it’s a giant doesn’t mean it can’t still keep getting big wins, perhaps en route to a $10 trillion market cap one day.
Even as hyperscalers and rivals look to build their own custom silicon, AI demand might be in a spot such that Nvidia can keep winning with GPUs and LPUs. If anything, custom silicon looks more like a “pressure release valve” than a replacement for Nvidia’s chips.
As Vera Rubin looks to experience explosive success, while RTX Spark (for agentics on the edge) hits the ground running, and the firm looks to the Feynmann era and beyond. As the firm also advances NVQLink and CUDA-Q, perhaps Nvidia might have the keys to genuinely useful quantum as the nascent tech collides with AI. Any way you look at it, Nvidia is going places.
Microsoft Microsoft (NASDAQ:MSFT) looks like another forgotten high-quality AI play that’s hiding in plain sight in the mega-cap bargain bin. At just 23.2 times trailing price-to-earnings (P/E), the shares look undeniably cheap. After a painful June tumble of 15% that wiped out the stock’s recovery hopes, perhaps there’s an opportunity to get in while the market has turned against the enterprise AI giant.
Indeed, AI is moving fast, and Microsoft Copilot has some serious catching up to do. With the recent reveal of its MAI models, it will be interesting to see how Microsoft can advance its AI strategy.
BNP Paribas analysts seem to like what’s up ahead, with Copilot showing more capability in recent months. With a fairly high price target of $555.00 per share, 42% higher than Friday’s close, the stock might have room to run as investors step back from the hype and look to uncover market bargains that were left behind.
Nvidia NVDA shares climbed more than 2% on Monday after a Reuters report said the artificial intelligence chip leader is preparing to raise $20 billion through a US bond offering, marking its return to the investment-grade debt market after five years.
The planned issuance comes as major technology companies continue to ramp up spending on artificial intelligence infrastructure, with Nvidia seeking additional financial flexibility to support its position at the center of the global AI boom.
According to Reuters, the bond offering will consist of seven tranches of notes with maturities extending as far as 2056.
A source familiar with the matter said Nvidia last tapped the investment-grade bond market in June 2021, when it raised $5 billion.
The company intends to use the proceeds for general corporate purposes, including refinancing and repaying existing debt, according to a term sheet reviewed by Reuters.
Goldman Sachs, JPMorgan, and Morgan Stanley are serving as bookrunners for the transaction.
The bond offering comes at a time when technology giants are committing unprecedented amounts of capital to artificial intelligence.
Industry estimates suggest combined AI-related spending by major technology companies could exceed $700 billion this year, compared with roughly $400 billion in 2025.
Several large technology firms have recently turned to debt markets to finance those ambitions.
Meta filed in October for a bond offering of up to $30 billion, while Alphabet last month disclosed plans to issue Japanese yen-denominated bonds for the first time.
Amazon has also been an active borrower, raising C$14 billion earlier this month.
The company has borrowed more than $82 billion since the beginning of 2025 as it expands investments in data centers, AI chips, and cloud infrastructure.
Although Nvidia does not directly operate hyperscale data centers on the scale of Amazon, Microsoft, or Google, demand for its processors remains a key driver of AI investment across the industry.
The company has accelerated its product cycle, releasing new generations of AI chips annually as competition intensifies and computing requirements continue to grow.
Nvidia reported cash and cash equivalents of $13.24 billion as of the quarter ended April 2026.
The positive sentiment surrounding Nvidia also spilled over to the broader semiconductor sector.
Micron Technology shares rose sharply as investors returned to AI-linked stocks amid ongoing concerns over memory-chip supply constraints.
The stock was up more than 7% in early trading.
Advanced Micro Devices gained more than 7%, while other chipmakers also advanced.
The rally was further supported by reports of progress toward a US-Iran peace agreement expected to be formally signed later this week.
The prospect of easing tensions in the Middle East pushed oil prices lower and raised hopes that inflation pressures could moderate if shipping through the Strait of Hormuz normalizes.
According to Reuters, the improved geopolitical backdrop helped drive a broader rebound across technology and other growth-oriented sectors.
Nvidia, AMD, Micron, and Intel had all come under pressure in recent sessions, but Monday's combination of renewed AI enthusiasm and easing geopolitical concerns encouraged investors to rotate back into semiconductor stocks.
HomeIndustriesComputers/ElectronicsTech StocksTech StocksNvidia is launching a seven-tranche debt offering to refinance its existing debt, as investor appetite for AI credit surgesPublished: June 15, 2026 at 11:23 a.m. ET
The arms dealer of the artificial-intelligence race is looking to raise new debt even as it continues to print money.
According to a preliminary filing with the Securities and Exchange Commission on Monday, Nvidia NVDA plans to raise debt across seven tranches, with maturities between 2028 and 2056. Reuters reported that the chip maker is looking to issue $20 billion worth of bonds. It’s Nvidia’s first corporate bond sale since 2021, when the company raised $5 billion.
The crypto market is currently in the midst of a prolonged downturn as investor appetite for risky alts like Bitcoin (BTC) has dried up since the coin hit its all-time high (ATH) on Oct. 6, 2025.
Since then, the largest coin—with a market cap of $1.23 trillion—has lost around half its value and is holding on to the psychological $60,000 level by a thread.
For crypto enthusiasts, the good news is that Bitcoin has successfully retested that level on numerous occasions since February. The bad news is that the macro environment that has led to the current crypto winter remains firmly in place, and there is likely more pain ahead before the market finds firm footing.
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How the Fourth Crypto Winter Came to BeOn paper, a $1.23 trillion market cap seems prolific. But at BTC’s peak in October, its market cap was approaching $2.5 trillion. For context, that made it larger than any company in the S&P 500 save for Magnificent Seven members NVIDIA NASDAQ: NVDA, Alphabet NASDAQ: GOOGL, Apple NASDAQ: AAPL, Microsoft NASDAQ: MSFT and Amazon NASDAQ: AMZN.
But the very same market rotation that saw the Nasdaq correct from its ATH in October 2025 has similarly afflicted Bitcoin, and with it the rest of the crypto market. Traders rotated into sectors and assets that they believed offered superior value. That risk-off strategy benefited emerging markets, underappreciated S&P 500 sectors like industrials and materials, as well as fixed-income securities, with bonds offering shelter to investors seeking yield and stability.
At the same time, investors looking to maintain risk-on strategies have found homes in the latest development in the AI trade: a global memory chip shortage. With AI stocks continuing to dominate the growth-focused narrative, Bitcoin and the spot exchange-traded funds (ETFs) that track it have seen heavy selling. For the week ending June 6, spot Bitcoin ETFs saw $1.72 billion in net outflows—the most since February 2025.
Regardless of macro conditions, crypto winters are recurring functions of distinct market cycles. After extended rallies that result in ATHs, Bitcoin historically corrects more severely than its equity market counterparts. But with the historical crypto bear markets often lasting around 13 months, more losses are likely.
Bitcoin’s Slump Has Spilled Into the Equities MarketThe fallout hasn’t been limited to the crypto market. Stocks and ETFs with direct or indirect exposure to Bitcoin have fared just as poorly. The most famous of those, perhaps, is Strategy NASDAQ: MSTR.
Strategy Today
$135.47 +11.50 (+9.28%)
As of 11:55 AM Eastern
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52-Week Range$104.17▼
$457.22Price Target$313.93
Originally a global provider of enterprise analytics and mobility software, the company’s rebrand from MicroStrategy included an all-in pivot to crypto that resulted in it becoming the world’s largest publicly traded Bitcoin treasury.
Currently, Strategy holds more than 845,000 BTC, or more than 4% of the entire global supply.
While that strategy is ideal in a bullish crypto market, it has been devastating for MSTR investors who have, alongside Bitcoin’s crash, seen their shares lose more than 18% in 2026 and more than 65% over the past year. To put that into perspective, at MSTR’s 52-week high in July 2025, the stock hit $457.22. On June 12, MSTR closed at $123.97.
The company has taken advantage of the crypto winter, adding 1,550 BTC on June 8 amid Bitcoin’s depressed prices. But the acquisition cost of Strategy’s original holdings are estimated to be around $64 billion. At today’s market price, they have devalued to $52 billion.
Bitcoin spot ETFs have suffered as well, given the aforementioned outflows they’ve experienced. Funds like the iShares Bitcoin Trust ETF NASDAQ: IBIT and the ProShares Bitcoin ETF NYSEARCA: BITO have dropped around 51% and 63%, respectively, from their 52-week highs.
The Silver Lining: Why This Crypto Winter May Be Less SevereThis current cycle marks the fourth crypto winter since digital currencies evolved from a mere fad into a global market that warranted everyday investors’ attention. And while all four have occurred within the past decade—something that has become expected given the asset class’s inherently volatile nature—each iteration has been followed by an exponentially more pronounced recovery that has seen Bitcoin hit new ATHs.
Moreover, Bitcoin’s drawdowns during each cycle have proven to become increasingly less severe:
During the first crypto winter from 2014–2015, the price of BTC plummeted from its peak of around $1,200 to around $170, good for a loss of roughly 86%.
From 2017–2018, BTC saw a peak-to-trough decline from $19,800 to $3,200, or 84%.
During the 2021–2022 crypto winter, BTC fell from nearly $69,000 to about $15,500, a decline of roughly 77%.
Based on previous cycles, it is reasonable to conclude that while the current crypto winter is likely to extend deeper into 2026, Bitcoin’s losses very likely may be lower than during previous bear markets. Much of that can be attributed to the fact that the crypto market’s structure has significantly evolved. While highly speculative altcoins have seen outsized losses, Bitcoin has been cushioned by institutional adoption and ETF inflows like those exhibited by BITO.
That fund has seen institutional buying outpace selling every quarter since Q3 FY2024, and over the past 12 months, inflows of nearly $182 million have easily surpassed outflows of just over $37 million. That pattern is even more discernible for IBIT, which over the same period has seen inflows of $6.6 billion against outflows of less than $2 billion, with institutional buying surpassing selling in all but one quarter since the ETF’s inception in Q1 FY2024.
Importantly, while demand is currently light given Bitcoin’s dramatic price correction, long-term crypto holders can—like Strategy—view the current downturn as a buying opportunity with the expectations that prices will recover, allowing BTC to once again challenge its ATH of $126,198.07 from October 2025.
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New shows featuring Kate Hudson & Oliver Hudson, Lele Pons and Martha Stewart join the growing slate of iHeartPodcasts on Netflix
iHeart
HeartMedia and Netflix have announced the next phase of their exclusive video podcast partnership with the addition of a new collection of iHeartPodcasts from some of what both companies describe as “today’s most influential and culturally resonant voices,” including Kate Hudson and Oliver Hudson, Lele Pons, and Martha Stewart launching as video shows on the streaming service. The agreement includes all new episodes from the podcast lineup, as well as select library episodes from each show.
The shows now joining the existing lineup on Netflix include the new Suite 305 with Lele Pons hosted by Latin multi-hyphenate and social media star Lele Pons who is joined by Shakira in the first episode; The Martha Stewart Podcast featuring conversations between the culinary and culture icon and her extraordinary guests; and Sibling Revelry with Kate Hudson and Oliver Hudson, a show from a famous brother and sister duo going deep into all topics with other siblings.
These shows will join the below previously announced slate of popular iHeartPodcasts, continuing to bring Netflix members an expanded range of programming spanning lifestyle, pop culture, comedy, and personal storytelling. The current slate of podcasts include The Breakfast Club, Bobby Bones Presents: The Bobbycast, My Favorite Murder, Dear Chelsea, Stuff They Don’t Want You to Know, Stuff You Missed in History Class, and Stuff To Blow Your Mind, among others.
BURBANK, CALIFORNIA - JANUARY 17: (FOR EDITORIAL USE ONLY) (L-R) Charlamagne tha God, Angela Yee, and DJ Envy, winners of the Best Pop Culture Podcast award for 'The Breakfast Club,' attend the 2020 iHeartRadio Podcast Awards at the iHeartRadio Theater on January 17, 2020 in Burbank, California. (Photo by Tommaso Boddi/Getty Images for iHeartMedia)
Getty Images for iHeartMedia
In addition to these new video podcasts, Netflix and iHeartMedia recently launched The Breakfast Club as a live video show airing simultaneously each weekday. This gives members real time access to the show’s unfiltered conversations, headline driving interviews and cultural commentary as it happens. While the radio broadcast continues to include traditional commercial breaks, Netflix viewers receive an enhanced, uninterrupted experience, with those breaks filled by exclusive bonus segments, behind the scenes moments, extended discussions and original content—resulting in nearly three continuous hours of programming each day.
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According to a press release from iHeart, this latest collection of podcasts will begin rolling out on Netflix in the coming months. iHeartMedia retains all audio-only rights and distribution for the shows included in the deal. All podcasts will continue to be available on iHeartRadio and everywhere podcasts are heard.
According to Podnews, the radio show/podcast The Breakfast Club is the platform’s runaway success. It accounts for over 40% of all podcast views on Netflix.
The number two title is the companion podcast for Bridgerton. Other major shows, such as On Purpose with Jay Shetty and exclusive content from Barstool Sports, are also part of the lineup.
In recent months, Netflix, Hulu, and now Tubi have all incorporated podcast content into their streaming platforms. According to Current, streaming platforms are adding podcasts—particularly video formats—to compete with YouTube and keep audiences engaged. This strategy lowers content costs while boosting ad revenue and subscriber retention between major series releases.
Licensing or producing standalone shows with established fan bases is significantly cheaper than filming original, scripted television. Platforms utilize personality-driven podcasts to fill content gaps and sustain viewer engagement between major show release. Platforms are pivoting to "vodcasts" because younger demographics increasingly expect visual elements when consuming audio content.
Expect more announcements about expanding podcast content on streaming services in the coming months.
Netflix is one of the world’s leading entertainment services, with over 300 million paid memberships in over 190 countries enjoying TV series, films, and games across a wide variety of genres and languages. iHeart is the largest podcast publisher according to both Podtrac and Triton, with more downloads than the next two podcast publishers combined.
Netflix is adding several new podcast shows to its content library, including ones by Hollywood star Kate Hudson and celebrity lifestyle guru Martha Stewart, deepening its video podcast partnership with iHeartMedia.
, /PRNewswire/ -- Rockefeller Center and Visa today announced a new partnership, naming Visa a Proud Partner of Top of the Rock, Rockefeller Center's iconic observation deck located on the 67th, 69th, and 70th floors of 30 Rockefeller Plaza.
SKYLIFT presented by Visa at Top of the Rock Observation Deck, Courtesy Rockefeller Center Rooted in a shared commitment to creating meaningful, memorable experiences, the partnership brings together one of New York City's most celebrated destinations with one of the world's leading payments technology companies. Together, Rockefeller Center and Visa will introduce new ways for visitors and eligible Visa cardholders to experience Top of the Rock, while continuing to elevate Rockefeller Center as a place where culture, hospitality, commerce, and community come together.
Beginning in June 2026, eligible Visa cardholders from around the world will have access to Visa Early Bird tickets, offering entry to Top of the Rock during an exclusive private hour before general admission. Eligible Visa cardholders will also receive 20% off at Top of the Rock Shop with their Top of the Rock ticket.
Visa Infinite cardholders from around the world will receive all eligible Visa cardholder benefits, as well as exclusive Priority Access with any direct ticket purchase, including expedited entry, line bypass throughout the experience, and expedited exit.
As part of the partnership, Visa will also be integrated into one of Top of the Rock's signature attractions, SKYLIFT presented by Visa. The open-air experience lifts guests an additional three stories above the topmost floor of 30 Rock, offering a breathtaking new vantage point from which to take in the New York City skyline.
"At Rockefeller Center we believe the most enduring places are those that bring people together through exceptional experiences," said EB Kelly, Senior Managing Director at Tishman Speyer and Head of Rockefeller Center. "Rockefeller Center has always been a stage for New York's most unforgettable moments, and Top of the Rock is one of the clearest expressions of that spirit. We're proud to partner with Visa to create thoughtful, elevated experiences for visitors and cardholders."
The partnership will also extend into one of New York City's most anticipated global sporting moments. During the NYNJ World Cup 26 & Telemundo Fan Village, taking place July 6 to 19, Visa Infinite cardholders from around the world will have access to the Visa Infinite Lounge at Rockefeller Center. The hospitality experience will feature dedicated match viewing, white-glove table service, premium food and beverage, and a coveted vantage point overlooking one of New York City's flagship World Cup activations.
The partnership officially launches in June 2026.
For more information visit Rockefellercenter.com/visa-offers
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Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
ABOUT ROCKEFELLER CENTER
For more than 90 years, Rockefeller Center has been a global icon in the heart of New York City. Conceived by John D. Rockefeller Jr. as a "city within the city," the Center comprises 13 buildings connected by an underground concourse. Under the stewardship of owner and operator Tishman Speyer, the Center has become the city's most dynamic place to work, play, dine, shop, and celebrate. Rockefeller Center is open daily and features year-round public programming, events and activations on the Plaza. For more information or to purchase tickets to attractions and programs, visit rockefellercenter.com.
Chase Freedom® Announces Q3 2026 5% Cash Back Categories: Gas Stations and EV Charging, Public Transit, Select Live Entertainment and United Way Today, Chase announced that Freedom and Freedom Flex cardmembers can earn 5% cash back on gas stations and electric vehicle charging, public transit, select live entertainment and donations to United Way from July 1 through September 30, 2026 on up to $1,500 in combined purchases. The new categories help cardmembers earn rewards on summer travel and everyday activities, entertainment and charitable giving.
“When cardmembers earn 5% cash back on everyday purchases, like filling up the tank, hopping on the subway, or catching a live concert, it can feel really meaningful,” said Wittney Rachlin, General Manager of Chase Freedom. “That’s the idea behind our Q3 categories: we want to reward routine spending cardmembers are already doing this summer so they can put more toward the moments that make the season special. And with United Way as our charitable donations earn partner this quarter, they can give back and earn at the same time.”
With Chase Freedom, every transaction can give cardmembers more: cash back on every purchase and the freedom to redeem rewards however they like. Cardmembers have until September 14th, 2026, to activate these categories.
Chase Freedom Flex Q3 2026 Rotating Categories:
Gas Stations and EV Charging¹: Cardmembers can earn 5% cash back on gas station and electric vehicle charging purchases. This helps cardmembers maximize rewards while they're fueling or charging up for summer road trips. Public Transit²: Earn 5% cash back on eligible public transit purchases, including trains, buses, ferries, toll bridges and highways, and parking lots and garages. Cardmembers can earn rewards on their daily commute or weekend adventures. Select Live Entertainment³: Cardmembers can earn 5% cash back on tickets to select live entertainment events, including concerts, sporting events, zoos and amusement parks, helping them make the most of summer activities. United Way⁴: Cardmembers can earn 5% cash back on donations to United Way through their official channels. United Way programs help build thriving communities. 5% is earned on up to $1,500 on combined purchases in the bonus categories each quarter.
Chase Freedom Flex Cardmembers Earn Cash Back Year-Round
In addition to these rotating categories, Chase Freedom Flex cardmembers always earn:
5% cash back on travel booked through Chase Travel 3% cash back on dining at restaurants (including takeout and eligible delivery services) 3% cash back on drugstore purchases 1% cash back on all other purchases Chase Freedom and Freedom Flex cardmembers can activate their 5% cash back quarterly category offer by visiting ChaseBonus.com today.
And, for a limited time, new Freedom Flex cardmembers can earn a $200 bonus after spending $500 on purchases in the first 3 months from account opening.
For more information on participating merchants or to apply for a card, visit Chase.com/FreedomFlex or Chase.com/Freedom.
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States of America with operations worldwide, assets of $4.9 trillion and $364 billion in stockholders’ equity as of March 31, 2026. Chase serves nearly 87 million consumers and 7.5 million small businesses with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: more than 5,000 branches in 48 states and the District of Columbia, nearly 15,000 ATMs, mobile, online and by phone. For more information, go to chase.com.
¹ Gas: Merchants in this category sell automotive gasoline that can be paid for either at the pump or inside the station and may or may not sell other goods or services at their location. Merchants that do not specialize in selling automotive gasoline are not included in this category; for example, truck stops, boat marinas, oil and propane distributors, and home heating companies.
EV Charging: Merchants in this category sell electric vehicle charging services that can be paid at the charging station, via mobile app, account/subscription or an attendant, and the merchants may or may not sell other goods or services at their location. Merchants must use the electric vehicle charging MCC for transaction to be rewarded against. If electric vehicle charging services are offered for free by a merchant or are included in their services, but other services/goods require payment, the transactions will not be rewarded against. In the event, parking facility merchants, such as valet parking, airport parking, and parking garages, charge to the MCC that results in the highest sales volume, the transaction will not be rewarded against. Residential electric vehicle charging is not included in this category. Electric vehicle charging equipment purchases and servicing for any use, including residential or commercial, are not included in this category.
² Public Transit: Merchants in this category include operators of passenger trains, buses, ferries, toll bridges and highways, and parking lots and garages. Merchants that provide transportation and related services are not included in this category, for example, airlines, hotels, car rental agencies, cruise lines, travel agencies, discount travel sites, vacation clubs, tour operators, bike or scooter rentals and car sharing. Taxis, Limousines, and rideshares such as Lyft or Uber are not included in this category.
³ Select Live Entertainment: Merchants in this category sell tickets for live in-person entertainment such as major sporting events, zoos and aquariums, concerts, theatrical productions, museums, tourist attractions and exhibits, amusement parks, circuses, carnivals, bands, and entertainers. Ticket agencies selling on behalf of the entertainment venue are included. Some merchants that sell tickets for in-person entertainment are not included in this category; for example, movie theaters, bowling alleys, horse racing tracks, casinos, and dance hall/clubs. Purchasing from a hotel/concierge is not included nor excursions or purchases as part of a travel package.
⁴ United Way: To ensure your charitable donation is eligible for the 5% Cash Back reward, be sure to donate directly through United Way’s official channels. Find your local United Way using the link provided here: www.Unitedway.org. Certain local United Ways may not be eligible due to transaction processing procedures.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260615937822/en/
Today, Chase announces new earn categories, travel credits and protections now available on the Sapphire Preferred card, with no change to the $95 annual fee. Cardmembers can earn more than ever with this go-to travel credit card, including new ways to earn accelerated points on travel and everyday purchases, plus new and expanded travel credits and protections to help them travel with confidence.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260615099861/en/
New and existing cardmembers have access to these new benefits starting today, June 15, 2026. The Sapphire Preferred card’s accelerated earning power is strengthened by the addition of 3x points on gas and EV charging, plus 3x points on vacation homes at top brands like Airbnb, Vrbo and more. Cardmembers will also receive a $100 Chase Travel Hotel Credit each account anniversary, doubled from $50. To help ease travel, cardmembers can receive a credit up to $120 toward Global Entry, TSA PreCheck or NEXUS every four years, and with the addition of Emergency Evacuation and Transportation coverage, the card now has the most comprehensive suite of travel protections in its class. Additionally, cardmembers will receive a complimentary Apple TV subscription for one year when activated by December 31, 2026.
“Sapphire Preferred has always been a favorite for travelers and now we’ve made it even better, especially for those who want to earn valuable points quickly and prioritize simplicity and reliability,” said Laura Picciano, General Manager of Chase Sapphire. “Whether it’s a nearby road trip or a bigger getaway worth saving for, Sapphire Preferred helps cardmembers turn their spending into travel memories while delivering value well beyond the annual fee.”
To celebrate these updates, for a limited time, new cardmembers can earn 100,000 points after spending $5,000 in the first three months.
MORE TO LOVE ABOUT THE NEW SAPPHIRE PREFERRED CARD
In addition to what’s new, cardmembers continue to enjoy many of the benefits they already love across travel and everyday categories. A full list of Sapphire Preferred benefits includes:
Strong Accelerated Earn, Made Even Stronger
NEW: 3x points on gas and EV charging NEW: 3x points on vacation homes at top brands including Airbnb, Vrbo and more 5x points on all Chase Travel purchases, including flights, hotels, rental cars, cruises, activities and tours 2x points on all other travel worldwide 3x points on dining worldwide, including takeout and eligible delivery services 3x points on top streaming services 3x points on online grocery purchases 5x points on Lyft rides through September 30, 2027 5x total points on eligible Peloton equipment and accessory purchases over $150 through December 31, 2027 1x points on all other purchases More Credits, Protections and Perks
UPDATED: $100 Chase Travel Hotel Credit every account anniversary, now doubled from $50 UPDATED: The most comprehensive suite of built-in travel protections in its class, now including Emergency Evacuation and Transportation coverage NEW: $120 Global Entry, TSA PreCheck, or NEXUS credit every four years NEW: Complimentary Apple TV subscription for one year when activated by December 31, 2026. Terms apply. Points Boost:Cardmembers can get more value when redeeming Ultimate Rewards® points on thousands of top-booked hotels and on flights with select airlines through Chase Travel Complimentary DashPass membership (a $120/ year value), plus up to $10 off a month on groceries, daily essentials, and more on DoorDash. Terms apply. Plus, cardmembers can spend anywhere in the world with no foreign transaction fees and on one of the most widely accepted global networks.
The 10% Anniversary Bonus Benefit is being discontinued, effective immediately for cardmembers who apply on or after June 15, 2026. For cardmembers who applied prior to June 15, 2026, eligible purchases made through October 1, 2026, will continue to earn the 10% bonus, which will be awarded by January 31, 2027.
ULTIMATE REWARDS UPDATES
Sapphire Preferred and Ink Business Preferred cardmembers’ Ultimate Rewards points will transfer to World of Hyatt at a rate of 4:3. For Sapphire Preferred cardmembers, this is effective immediately for new cardmembers who apply on or after June 15, 2026, and effective October 1, 2026, for cardmembers who applied prior to June 15, 2026. For Ink Business Preferred cardmembers, this is effective October 1, 2026, for existing cardmembers and for new cardmembers who apply on or after October 1, 2026.
Ultimate Rewards points do not expire as long as accounts are open, and there are no blackout dates or travel restrictions when booking through Chase Travel. Beyond high-value travel redemptions with Chase Travel and Points Boost, Ultimate Rewards’ flexible ecosystem offers additional ways to use points, including Pay Yourself Back, gift cards and cash back. Cardmembers can also earn hotel loyalty points in addition to Ultimate Rewards points when they book their stay at select hotels through Chase Travel.
For more information on all the new benefits of the Chase Sapphire Preferred card, please visit Chase.com/SapphirePreferred. And, for more information on Ultimate Rewards, please visit chase.com/UltimateRewards.
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States of America with operations worldwide, assets of $4.9 trillion and $364 billion in stockholders’ equity as of March 31, 2026. Chase serves nearly 87 million consumers and 7.5 million small businesses with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: more than 5,000 branches in 48 states and the District of Columbia, nearly 15,000 ATMs, mobile, online and by phone. For more information, go to chase.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260615099861/en/
JPMorganChase today announced the expansion of its $1.5 trillion, 10-year Security and Resiliency Initiative (SRI) to Canada. The announcement builds on SRI’s recent expansion to Europe and the firm’s momentum in Canada, which has nearly doubled franchise revenue and increased headcount by a third over the past five years.
First announced in the United States in October, SRI is a $1.5 trillion, 10-year initiative to facilitate, finance and invest in five key verticals, including supply chain and advanced manufacturing, defence and aerospace, energy independence and resilience, frontier and strategic technologies, and pharma and healthtech. In Canada, JPMorganChase expects SRI to align closely with some of the country’s strengths and key priorities including defence, energy and mining, and supporting secure, resilient supply chains with trading partners.
“Canada has deep strengths on the world stage — rich in talent, abundant resources and is home to companies at the forefront of critical industries,” said Jamie Dimon, Chairman and CEO of JPMorganChase. “By extending SRI to Canada, we’re strengthening the vital industries and supply chains that underpin North American economic resilience, which is essential to shared prosperity and collective security.”
David Rawlings, CEO for JPMorganChase Canada, will lead the initiative locally, providing oversight and accountability across the country. He will work with clients and public- and private-sector organizations to advance SRI’s multilateral initiatives — including providing banking and advisory support to select next-generation companies building critical capacity in Canada, the U.S. and across global trading partners.
Separately, JPMorganChase is proud to play a leading role in the establishment of the Defence, Security and Resilience Bank (DSRB), which will be headquartered in Canada. As one of the key financial institutions helping to stand up the DSRB, our involvement reflects JPMorganChase’s deep commitment to helping finance future defence and security objectives. Canada’s selection as the headquarters further strengthens the country’s position in defence, aerospace, advanced manufacturing, and research and development.
JPMorganChase serves clients across Canada through offices in Toronto, Montreal, Calgary and Vancouver, with a focus on cross-border activity. The firm helps Canadian clients invest, grow and transact globally and serves subsidiaries of global companies operating in Canada. Through JPMorganChase’s global network in more than 100 countries, the firm helps connect Canadian companies and institutions to global capital and markets.
As Canada attracts more capital and capabilities to strengthen domestic growth and resilience, JPMorganChase is expanding its operations to support clients as investment priorities evolve and supply chains become more critical to long-term competitiveness.
For more information on SRI, please visit jpmorgan.com/sri.
About JPMorganChase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.9 trillion in assets and $364 billion in stockholders’ equity as of March 31, 2026. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260615498584/en/
Procter & Gamble (PG - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Over the past month, shares of this world's largest consumer products maker have returned +5.7%, compared to the Zacks S&P 500 composite's +0.5% change. During this period, the Zacks Consumer Products - Staples industry, which P&G falls in, has gained 3.6%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For the current quarter, P&G is expected to post earnings of $1.44 per share, indicating a change of -2.7% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.4% over the last 30 days.
The consensus earnings estimate of $6.91 for the current fiscal year indicates a year-over-year change of +1.2%. This estimate has changed -0.1% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $7.08 indicates a change of +2.5% from what P&G is expected to report a year ago. Over the past month, the estimate has changed -0.1%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for P&G.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For P&G, the consensus sales estimate for the current quarter of $21.46 billion indicates a year-over-year change of +2.7%. For the current and next fiscal years, $87.15 billion and $89.58 billion estimates indicate +3.4% and +2.8% changes, respectively.
Last Reported Results and Surprise HistoryP&G reported revenues of $21.24 billion in the last reported quarter, representing a year-over-year change of +7.4%. EPS of $1.59 for the same period compares with $1.54 a year ago.
Compared to the Zacks Consensus Estimate of $20.51 billion, the reported revenues represent a surprise of +3.52%. The EPS surprise was +1.92%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
P&G is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about P&G. However, its Zacks Rank #4 does suggest that it may underperform the broader market in the near term.
Key Takeaways AZN's Truqap gained FDA approval in PTEN-deficient mAPMN/S prostate cancer with abiraterone and prednisone.AZN's phase III CAPItello-281 study showed a 19% lower risk of progression or death with Truqap.Truqap Q1 2026 sales rose 47% to $198 million, while EU regulators review the expanded indication. AstraZeneca PLC (AZN - Free Report) announced that the FDA has approved an expanded use of its breast cancer drug, Truqap (capivasertib), for a prostate cancer indication, making it the first AKT inhibitor approved in a second tumor type.
The FDA has granted approval to Truqap in combination with J&J’s (JNJ - Free Report) Zytiga (abiraterone) and prednisone for the treatment of PTEN-deficient metastatic androgen pathway modulation-naïve or sensitive (mAPMN/S) prostate cancer, formerly known as PTEN-deficient metastatic hormone-sensitive prostate cancer. The authority has authorized a companion diagnostic test to identify PTEN deficiency in patients with prostate adenocarcinoma.
Notably, the FDA’s Oncologic Drugs Advisory Committee voted 7-1 in favor of approving Truqap in combination with J&J’s Zytiga and androgen deprivation therapy (ADT) in April for patients with PTEN-deficient mAPMN/S prostate cancer.
AZN already markets Truqap in combination with Faslodex for the treatment of adult patients with HR-positive, HER2-negative locally advanced or metastatic breast cancer in the United States, the European Union and several other international markets.
Over the past six months, AZN’s shares have lost 2.2% compared with the industry’s 3.8% decline.
Image Source: Zacks Investment Research
Truqap’s Expanded Use Backed by AZN’s CAPItello-281StudyThe FDA approval for the label expansion of Truqap was based on positive data from the primary analysis of the ongoing phase III CAPItello-281 study, which demonstrated that Truqap, combined with J&J’s Zytiga and ADT, significantly improved outcomes in patients with PTEN-deficient mAPMN/S prostate cancer. The regimen reduced the risk of disease progression or death by 19% and improved median radiographic progression-free survival by 7.5 months compared with standard treatment.
The Truqap combination is under regulatory review in the European Union for the same indication.
Prostate cancer is the second most prevalent cancer in men globally, with over 1.4 million new cases diagnosed each year. Among patients with mAPMN/S disease, approximately one in four has a PTEN-deficient tumors, a biomarker linked to aggressive disease progression and poorer clinical outcomes.
Truqap was discovered by AstraZeneca in collaboration with Astex Therapeutics.
Truqap recorded sales of $198 million in the first quarter of 2026, up 47% year over year, driven by increased uptake in the U.S. market. The ex-U.S. is market expected to be a key contributor in future quarters. The expanded approval for the prostate cancer indication should drive sales further in coming quarters.
The company is also evaluating Truqap in combination with standard therapies as a first-line treatment for HR-positive breast cancer in the ongoing phase III CAPItello-292 study.
Besides Truqap, AstraZeneca has another prostate cancer therapy, Lynparza, which is marketed in collaboration with Merck under a profit-sharing agreement.
AZN’s Zacks Rank & Stocks to ConsiderAZN currently carries a Zacks Rank #3 (Hold).
Two better-ranked stocks in the biotech sector are Indivior Pharmaceuticals (INDV - Free Report) and Liquidia Corporation (LQDA - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 30 days, earnings per share estimates for Indivior Pharmaceuticals remained unchanged at $4.05 for 2026 and $4.27 for 2027. INDV shares have risen 7.2% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
Over the past 30 days, estimates for Liquidia’s earnings per share remained unchanged at $2.97 for 2026 and $4.81 for 2027. LQDA shares have gained 106.5% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.
Walt Disney (DIS - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Over the past month, shares of this entertainment company have returned -2.6%, compared to the Zacks S&P 500 composite's +0.5% change. During this period, the Zacks Media Conglomerates industry, which Disney falls in, has lost 3.2%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Disney is expected to post earnings of $1.89 per share for the current quarter, representing a year-over-year change of +17.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.8%.
For the current fiscal year, the consensus earnings estimate of $6.85 points to a change of +15.5% from the prior year. Over the last 30 days, this estimate has changed +0.5%.
For the next fiscal year, the consensus earnings estimate of $7.45 indicates a change of +8.8% from what Disney is expected to report a year ago. Over the past month, the estimate has changed +1.1%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Disney is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Disney, the consensus sales estimate for the current quarter of $25.47 billion indicates a year-over-year change of +7.7%. For the current and next fiscal years, $101.81 billion and $106.51 billion estimates indicate +7.8% and +4.6% changes, respectively.
Last Reported Results and Surprise HistoryDisney reported revenues of $25.17 billion in the last reported quarter, representing a year-over-year change of +6.5%. EPS of $1.57 for the same period compares with $1.45 a year ago.
Compared to the Zacks Consensus Estimate of $25.06 billion, the reported revenues represent a surprise of +0.41%. The EPS surprise was +5.37%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates just once over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Disney is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Disney. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +24% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Walt Disney (DIS - Free Report) Burbank, CA-based Walt Disney Company has assets that span movies, television shows and theme parks. Revenues were $94.4 billion in fiscal 2025.
DIS is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 14.6; value investors should take notice.
10 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.24 to $6.85 per share. DIS boasts an average earnings surprise of +6.8%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, DIS should be on investors' short list.
United's new "Stars and Stripes" livery takes to the skies this summer on a U.S.-built Boeing 787-10 and Boeing 737-800 featuring a bold red, white and blue design
Nearly 600 pilots have transitioned from military service to United since 2024 through its military pilot pathway program
U.S. Secretary of Transportation Sean P. Duffy and United CEO Scott Kirby visit Washington Dulles International Airport to celebrate America's 250th anniversary and the airline's pilot hiring milestone
, /PRNewswire/ -- United today unveiled a new specialty "Stars and Stripes" livery that celebrates the nation's 250th anniversary and announced a milestone to the airline's United Military Pilot Program, an initiative that provides currently serving active-duty U.S. military pilots access to a conditional job offer with the airline much earlier than they were previously afforded.
Since 2024, nearly 600 military pilots have transitioned to United through the program, with 500 more expected by the end of 2027.
United Celebrates America with Custom 250th Anniversary Livery and Military Pilot Hiring Program Milestone To celebrate America's 250th anniversary, United's new specialty livery takes to the skies this summer on a U.S.-built Boeing 787-10 and Boeing 737-800. Painted in Amarillo, Texas, the bold red, white and blue design features 50 stars representing states across the country, while diagonal red and white stripes reflect the energy and momentum of a nation always moving forward. Both aircraft will include a commemorative plaque dedicated to United's active-duty service members and veterans who have selflessly served our country.
U.S. Secretary of Transportation Sean P. Duffy and United CEO Scott Kirby were joined by United employees, including those from United's Veterans' Business Resource Group, and local dignitaries at Washington Dulles International Airport to celebrate America's 250th anniversary and the airline's pilot hiring milestone.
"America is the greatest country in the world, and we're proud to play a role in celebrating our nation's 250th anniversary," said Kirby. "For 100 years of that history, United has been a pioneering U.S. company, investing in people and communities across the country. Today, we proudly employ more than 8,300 military veterans, of which 1,500 are active members of the National Guard and Reserve forces. Our 'Stars and Stripes' livery pays tribute to their service to our country that continues to make America strong."
"It's great to see United join this administration's call to celebrate America's historic birthday," said U.S. Transportation Secretary Sean P. Duffy. "This patriotic design will remind the American people of the many freedoms we enjoy and how lucky we are to be part of the Great American Experiment!"
United's Support of Military and Veterans
United supports service members, veterans and military families through hiring programs, employee engagement and military-focused organizations in communities across the United States.
United Military Pilot Program: This initiative offers active-duty and active reserve military pilots a path to a United flight deck with a conditional job offer as a First Officer. Candidates must be more than 12 months away from the date of availability to start full-time with United, and a minimum of 12 months from the separation date. Applicants are not required to hold an Airline Transport Pilot Certificate at the time of application to receive a conditional job offer, providing flexibility for service members, including starting at United when the time is right for them and their families. Currently, United has over 18,000 pilots, including more than 4,500 who are veterans. United for Veterans: United's business resource group for employees who are military veterans, service members and their supporters includes more than 5,300 members and supports the company's efforts to recruit, develop and retain veteran talent across the airline. United Support for Military Organizations: United supports organizations serving veterans, service members and their families through flight support for veterans to visit memorial sites in the nation's capital and around the world, career mentorship, volunteerism and other in-kind contributions. This includes support for organizations such as the USO, the Greatest Generations Foundation, as well as the Fisher House Foundation where United has provided more than 16,000 flights to military and veteran families in need, and United teams across the country have volunteered at local Fisher Houses helping cook meals, garden and decorate homes for the families who stay there. United's Miles on a Mission: MileagePlus® members can donate unused miles to the USO to support traveling service members and their families, as well as directly to Fisher House Foundation's Hero Miles program to help bring family members to the bedside of injured service members. For more information about United's military hiring and other career opportunities, visit United.com/careers.
About United
At United, Good Leads The Way. With U.S. hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco and Washington, D.C., United operates the most comprehensive global route network among North American carriers and is now the largest airline in the world as measured by available seat miles. For more about how to join the United team, please visit www.united.com/careers and more information about the company is at www.united.com. United Airlines Holdings, Inc., the parent company of United Airlines, Inc., is traded on the Nasdaq under the symbol "UAL".
Key Takeaways ExxonMobil's upstream-heavy portfolio benefits from higher crude prices and strong operating margins.ExxonMobil's low-cost Permian Basin and offshore Guyana assets support profitability across price cycles.XOM may benefit from EIA's WTI forecast of $88.32 per barrel in 2026 compared with $65.40 per barrel in 2025. Exxon Mobil Corporation (XOM - Free Report) is an integrated energy giant spanning the entire oil and gas value chain, from exploration and production to refining and marketing. The company generates substantial revenues from these upstream operations, making its overall business model highly sensitive to the volatility of global crude prices. With West Texas Intermediate (“WTI”) crude prices trading above $80 per barrel, according to oilprice.com, amid ongoing geopolitical tensions and conflict in the Middle East, ExxonMobil is operating in a favorable commodity-price environment that supports higher margins.
The bulk of the well-known integrated giant’s upstream resources are concentrated in the Permian Basin, the most prolific basin in the United States and offshore Guyana. These advantaged assets have very low production costs, which allow XOM to maintain strong margins even during periods of soft crude prices. This cost advantage firmly positions ExxonMobil to maximize profitability in the robust crude-price environment.
The U.S. Energy Information Administration (“EIA”) also projects a sustained favorable pricing environment in its short-term energy outlook. The EIA estimates that WTI crude prices will average $88.32 per barrel in 2026. This is significantly higher than the $65.40 per barrel recorded in 2025. The combination of an advantaged resource base and resilient EIA forecasts positions ExxonMobil to capitalize on favorable market conditions.
Will YPF & CVE Benefit From Higher Crude Prices?As major energy players focused on exploration and production,Chevron Corporation (CVX - Free Report) and Cenovus Energy Inc. (CVE - Free Report) have business models that are highly exposed to crude price volatility. Chevron benefits from high-quality upstream assets, including a strong footprint in the Permian Basin, while Cenovus operates a highly diversified portfolio across Canada and the United States. Given their extensive asset bases, CVX and CVE are well-positioned to benefit from elevated crude prices.
XOM’s Price Performance, Valuation & EstimatesExxonMobil shares have gained 30.7% over the past year compared with 33.5% growth of the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, XOM trades at a trailing 12-month enterprise-value-to-EBITDA (EV/EBITDA) of 9.74X. This is above the broader industry average of 6.4X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for XOM’s 2026 earnings has remained constant over the past seven days.
Image Source: Zacks Investment Research
XOM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +24% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: General Motors (GM - Free Report) One of the world’s largest automakers, General Motors held the largest share of the U.S. auto market at 16.5% in 2024. Headquartered in Detroit, the auto giant has had a long and checkered history. Founded in 1908, the company rose to dominate the U.S. industry. However, hit by the financial crisis, General Motors filed for bankruptcy on Jun 1, 2009. Just within 40 days, the firm emerged from bankruptcy. In 2010, the company launched its IPO – the biggest in U.S. history at that time – and has been steadily profitable since then. From going bankrupt in 2009 to becoming one of the world’s best-run car companies, General Motors has indeed come a long way.
GM is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 6.34; value investors should take notice.
10 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.37 to $12.85 per share. GM boasts an average earnings surprise of +20.3%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, GM should be on investors' short list.
Home Depot (NYSE:HD | HD Price Prediction) is the largest home improvement retailer in America, and right now it’s stuck in a frustrating holding pattern.
CEO Ted Decker told investors after Q1 that “the underlying demand in our business was relatively similar to what we saw throughout fiscal 2025, despite greater consumer uncertainty and housing affordability pressure.” Translation: the business is fine, the macro is not. Shares are down 3.89% YTD while consumer spending grinds higher. So can HD really hit $450 by 2028? Let’s run the math.
What’s Holding Home Depot Back Right Now The issue is the housing cycle. Existing home turnover remains depressed, big-ticket remodel demand has been soft, and customer transactions fell 1.3% in Q1 FY2026. GAAP operating margin compressed to 11.9% from 12.9% as SRS Distribution amortization weighed on profitability.
Shares have fallen 7.13% over the past year and sit 11% below the 52-week high of $418.06. With a beta of 0.974, this is a slow grind that has tested patience. The recent 5.18% one-week bounce hints sentiment may be turning, but the housing overhang is real.
Wall Street Sees Modest Upside. Our Model Sees More Wall Street’s consensus price target sits at $370.18, with 4 Strong Buy, 18 Buy, and 14 Hold ratings, no Sell calls. That is a polite shrug. Our base case lands at $373.86 for a 14.68% two-year return, with a bull case of $426.42 and a bear case of $339.18. Our confidence sits at 90%, which is high.
I think analysts are anchoring too hard on FY26 guidance and underweighting what happens when housing turnover normalizes. With 61% of analysts bullish and insiders net buying across 54 recent transactions, the conviction is quietly building.
The Path to $450 Per Share Here is the math. Reaching $450 from today’s price of $326.01 would require a gain of 38%. With forward EPS of $16.31, a price of $450 implies a forward P/E of 28x. Our base case of $373.86 already implies 22x, meaning the bold target requires roughly 5x of additional multiple expansion.
Is that achievable? I think yes, under the right conditions. Our 247Factor adjustment came in at 1.061, driven by moderate analyst optimism (+0.037 contribution) and a mega-cap dampening that limits upside math. But the bigger story is the macro.
BEA data shows furnishings spending climbed to $527.5B in April 2026 from $516.7B in January, and housing services spending reached $3,930.7B. If mortgage rates ease and remodel demand reawakens, FY27 and FY28 EPS could push well past $17.
Layer in SRS and GMS contributions scaling, and a 27x multiple on rising earnings becomes defensible. The primary risk: a prolonged housing recession that keeps comps flat into 2028.
Where Home Depot Trades Today vs Its Earnings Power At $326.01, HD trades at a forward P/E of 20x, which strikes me as cheap for a business with 128.4% ROE and 156 consecutive dividend payments.
Shares sit between a 52-week low of $286.95 and high of $418.06. Over the past decade, HD has returned 224.88%, a reminder that patience here usually pays. The current valuation reflects cycle pessimism, not structural decline.
Is $450 Realistic? Here’s My Take Reaching $450 by 2028 requires a 38% gain from here. I think it is a stretch but not a long shot.
Three things need to go right: housing turnover normalizes by late 2027, SRS and GMS integration drives operating margin back above 13%, and the Fed cuts enough to revive big-ticket projects.
What derails it? A second leg lower in housing that keeps comps negative into FY27. Returns at this level shouldn’t be expected every year, but we’ve outlined the blueprint for how Home Depot could reach $450 in 2028.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Let's take a look at what these Wall Street heavyweights have to say about McDonald's (MCD - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
McDonald's currently has an average brokerage recommendation (ABR) of 1.95, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 37 brokerage firms. An ABR of 1.95 approximates between Strong Buy and Buy.
Of the 37 recommendations that derive the current ABR, 19 are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 51.4% and 2.7% of all recommendations.
Brokerage Recommendation Trends for MCD
Check price target & stock forecast for McDonald's here>>>
While the ABR calls for buying McDonald's, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.
This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABRAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Is MCD Worth Investing In?Looking at the earnings estimate revisions for McDonald's, the Zacks Consensus Estimate for the current year has declined 0.2% over the past month to $12.93.
Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for McDonald's. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, it could be wise to take the Buy-equivalent ABR for McDonald's with a grain of salt.
Key Takeaways SBUX reported 6% global comparable sales growth, with transaction growth topping 4%.SBUX credits Green Apron Service for better staffing, faster service and higher customer scores.SBUX saw traffic growth across all dayparts and income groups, with morning visits rebounding. Starbucks Corporation (SBUX - Free Report) is showing signs that its turnaround strategy is gaining traction, with improved customer service emerging as a key driver of renewed traffic growth. During the second quarter of fiscal 2026, the coffee giant reported global comparable sales growth of 6%, including more than 7% growth in North America. Notably, transaction growth exceeded 4%, marking the strongest customer traffic performance the company has seen in roughly three years.
At the center of this recovery is Starbucks' "Green Apron Service" initiative, which focuses on better staffing, scheduling, leadership stability and faster service. Management noted that customer experience scores continued to improve during the quarter, while service times remained on target despite higher transaction volumes. The company has also introduced new operational tools, such as the Grow scorecard, to help stores maintain consistent service standards and identify areas for improvement.
The improvements appear to be resonating with consumers. Starbucks reported transaction growth across all dayparts and income groups, suggesting that customers are responding positively to a more reliable and engaging in-store experience. Management highlighted that morning traffic has nearly returned to fiscal 2022 levels, while brand affinity, purchase intent and customer perception of value have all strengthened.
While menu innovation and rewards program enhancements have also contributed to growth, Starbucks' leadership believes superior service is the foundation of its recovery. If the company continues to execute on the customer experience initiatives, it may be well positioned to sustain traffic gains and strengthen long-term growth prospects.
How Do Competitors Compare on Customer Experience?Starbucks' renewed focus on service quality puts it in direct competition with other coffee and beverage chains that are also investing heavily in customer experience. Among its key rivals are Dutch Bros Inc. (BROS - Free Report) and Restaurant Brands International's (QSR - Free Report) Tim Hortons.
Dutch Bros has built its brand around fast service and energetic customer interactions. The company emphasizes friendly employee engagement and efficient drive-thru operations, helping it attract younger consumers and generate strong customer loyalty. As Dutch Bros expands nationally, its people-centric service model presents a meaningful challenge to Starbucks, particularly in drive-thru-focused markets.
Meanwhile, Tim Hortons, a dominant coffee chain in Canada with a growing international presence, continues to invest in digital ordering, loyalty programs and operational improvements. Restaurant Brands International's brand has focused on reducing wait times and enhancing convenience through mobile technology, similar to Starbucks' efforts to improve order accuracy and speed.
While both competitors are strengthening their customer experience initiatives, Starbucks' combination of premium coffee offerings, personalized rewards, upgraded stores and Green Apron Service gives it a differentiated approach. The recent rebound in traffic suggests these investments are helping Starbucks regain its competitive edge.
SBUX’s Price Performance, Valuation & EstimatesShares of Starbucks have gained 21.1% in the past six months compared with the industry’s 0.9% growth.
SBUX’s One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, SBUX trades at a forward price-to-earnings (P/E) multiple of 35.82, above the industry’s average of 23.05.
SBUX’s P/E Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for SBUX’s fiscal 2026 earnings per share (EPS) implies a year-over-year increase of 12.7%. The EPS estimates for fiscal 2026 have increased in the past 60 days.
EPS Trend of SBUX Stock
Image Source: Zacks Investment Research
SBUX’s Zacks RankSBUX stock currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Key Takeaways RCL benefits from record pricing, strong onboard spending and continued double-digit growth expectations.RCL is expanding exclusive destinations, loyalty programs and digital tools to boost engagement.RCL faces risks from fuel costs, geopolitical uncertainty and modest earnings estimate cuts. Royal Caribbean Cruises Ltd.’s (RCL - Free Report) shares have climbed 16.5% over the past month, compared with the industry’s increase of 7.2%. The company’s ability to sustain strong demand, expand margins and generate long-term earnings growth despite a volatile macroeconomic backdrop bodes well.
The rally has been fueled by management’s upbeat commentary on consumer spending trends, record booking activity, resilient pricing, growing onboard spending and confidence in delivering another year of double-digit revenue and earnings growth.
Investors also appear encouraged by Royal Caribbean’s expanding portfolio of exclusive destinations, growing loyalty ecosystem and technology-driven initiatives that are helping deepen customer engagement and strengthen its competitive position. While geopolitical uncertainties and fuel-cost pressures remain concerns, the cruise operator continues to demonstrate why it is viewed as one of the strongest players in the global vacation industry.
On the other hand, within the same time frame, shares of other industry players like Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) and Carnival Corporation & plc (CCL - Free Report) have gained 27.3% and 17.1%, respectively.
Price Performance
Image Source: Zacks Investment Research
What’s Working in Royal Caribbean’s Favor?Royal Caribbean continues to benefit from one of the strongest demand environments in the travel industry. Management noted that consumers remain highly engaged, prioritizing experiences over material purchases. The company’s booking position remains at record pricing levels, while onboard spending continues to run well above pre-pandemic norms. This combination is supporting healthy revenue growth and profitability.
Another major strength is Royal Caribbean’s leadership in the Caribbean market. The region represents more than half of the company’s deployment, and management expects positive Caribbean yield growth in 2026 despite industry capacity additions. Premium destinations such as Perfect Day at CocoCay and Royal Beach Club Paradise Island continue to differentiate the company’s offerings and support pricing power.
The company is also seeing increasing benefits from its digital transformation initiatives. Mobile app adoption exceeds 90%, digital booking penetration has more than doubled since 2019 and over half of onboard purchases are now made before guests board a ship. These trends allow Royal Caribbean to personalize vacations, improve guest engagement and drive higher onboard spending.
Loyalty initiatives are creating another growth avenue. Repeat guests now account for roughly 40% of customers, up from historical levels. Management noted that repeat customers spend about 25% more than first-time cruisers, boosting customer lifetime value and reducing acquisition costs. The company’s Status Match program and new Royal ONE co-branded credit card should further strengthen customer retention.
Growth prospects also remain compelling. Royal Caribbean continues expanding its destination ecosystem through projects such as Royal Beach Club Santorini, Royal Beach Club Cozumel and Perfect Day Mexico. The latter is expected to become a major draw for the underpenetrated Texas cruise market. Meanwhile, the Icon-class fleet continues to generate strong consumer demand, with bookings for the upcoming Legend of the Seas reportedly ahead of previous Icon-class launches.
Financially, the company remains on a solid footing. First-quarter adjusted EBITDA margin expanded more than 300 basis points year over year to 38%, operating cash flow increased 13%, and leverage ended the quarter below 3x. Strong cash generation provides flexibility for fleet investments, debt reduction and shareholder returns.
What Could Hurt RCL Going Forward?Despite the favorable outlook, investors should not overlook several risks. The most immediate concern is geopolitical uncertainty. Royal Caribbean acknowledged that conflicts in the Middle East temporarily weakened booking trends for high-yield Mediterranean itineraries. Although management said bookings have rebounded and demand has “turned the corner,” these disruptions forced the company to reduce its yield expectations for parts of 2026.
Fuel costs represent another challenge. Rising fuel prices are expected to create a significant earnings headwind this year. Management estimates current fuel prices could reduce earnings by approximately 62 cents per share, even with nearly 60% of 2026 fuel consumption hedged. Additional energy price volatility could pressure margins.
Airfare inflation and travel disruptions also remain concerns. Higher flight costs and reduced airline capacity negatively affected Mediterranean bookings during the quarter. While conditions have improved, further disruptions could impact customer travel decisions, particularly for international itineraries.
The company is also navigating capacity growth across the industry. While Royal Caribbean believes its premium destinations and newer ships provide a competitive advantage, increased cruise supply could eventually put pressure on prices if demand softens.
RCL Estimate RevisionsIn the past 30 days, analysts have trimmed their estimates for the current and the next years by 0.5% to $17.27 and 0.7% to $19.86, respectively. These estimates indicate year-over-year growth rates of 10.4% and 15%, respectively. Then again, Carnival and Norwegian Cruise’s current-year earnings are estimated to witness year-over-year declines of 1.3% and 20.4%, respectively.
Image Source: Zacks Investment Research
Royal Caribbean Trades at a DiscountRCL is currently priced at an attractive discount relative to its industry, making it a compelling opportunity for investors. With a forward 12-month price-to-earnings (P/E) ratio of 15.96, below the industry average, RCL’s valuation suggests room for upside, reinforcing its appeal for those looking to capitalize on its growth trajectory.
Image Source: Zacks Investment Research
Wrapping UpRoyal Caribbean appears well positioned to continue benefiting from strong consumer demand, premium vacation offerings, a growing base of loyal customers and an expanding portfolio of exclusive destinations. The company’s focus on enhancing guest experiences through new ships, destination investments and digital innovation should support long-term revenue and profit growth.
However, the stock’s recent surge leaves less room for error, particularly as the company navigates geopolitical uncertainties, elevated fuel costs and potential travel disruptions that could weigh on demand in certain regions. While Royal Caribbean's competitive advantages and growth initiatives justify confidence in its long-term outlook, the recent rally and modest downward revisions to earnings estimates suggest that risk-reward is becoming more balanced. Consequently, current shareholders may consider holding the stock to participate in the company's ongoing growth story, while prospective investors may prefer to wait for a more favorable entry point before building new positions.
The company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
