Prasad Kalyanaraman, vice president of infrastructure services at Amazon Web Services BASTIEN INZAURRALDE/AFP via Getty Images At an internal staff meeting in September, AWS CFO John Felton had a joke for Prasad Kalyanaraman, the executive overseeing much of Amazon's AI infrastructure expansion.
"You've taken us free cash flow negative as a company, so congratulations," Felton said, according to a recording of the meeting obtained by Business Insider.
The remark was lighthearted. But it captured a stunning reversal.
Just two years ago, Wall Street was debating what Amazon would do with its growing cash hoard. Now, cash flow has evaporated as Amazon embarks on its biggest bet ever, spending $220 billion this year alone to build the physical backbone for AI.
At the meeting, Kalyanaraman did not dispute Felton's premise. Amazon's machine-learning and AI business is "hugely free cash flow negative," he said, adding that he expects the company's free cash flow to remain negative for "the next couple of years or so."
What are the real-life consequences of AI?
Amazon has made big bets before. It spent heavily on cloud computing, fulfillment centers, and its delivery network long before they became some of the company's most valuable assets. Investors questioned those investments at the time, but Amazon ultimately built enormous, profitable businesses from them.
AI is testing this playbook at a far larger scale. Amazon is committing hundreds of billions of dollars to data centers, servers, and power before investors know how quickly those investments will generate revenue.
The company is the best, or among the best, at building data centers, with decades of experience. But the size and complexity of these projects, and the bottlenecks holding progress back, are challenging — even for such a respected cloud pioneer.
Internal documents reviewed by Business Insider and people familiar with the matter show the company trying to coordinate a sprawling industrial system whose parts move on different schedules. A delay in power, equipment, or construction can leave billions of dollars in hardware waiting — and Amazon's cash tied up — while forecasts and costs keep shifting.
Why Amazon thinks it will workAmazon says it has strong evidence that the capacity will be needed. AWS revenue grew 37% in the second quarter, its fastest pace in 18 quarters, while its backlog reached $496 billion.
CEO Andy Jassy thinks the company has a "clear line of sight" to strong financial returns from this record investment cycle. In his latest annual shareholder letter, he called AI a "once in a lifetime opportunity" and said Amazon would not be conservative in its investments.
"We've been through this cycle with the first big AWS growth wave, and liked the results," Jassy wrote. "We expect to feel similarly about this next wave."
Investors are concerned by the scale of the industry's expansion, especially as AI data centers are costing more to build and taking longer to complete.
The market is "repricing anything that funds multi-year builds against revenue that arrives later," Dan Ives, an analyst at Yorkville Ives, wrote in a recent report. Growing uncertainty around data center permitting and the political fight over electricity prices have given investors another reason to question how quickly these investments will pay off, he added.
Racks, but not enough powerOne major industry challenge is securing enough power to run the equipment that goes inside data centers. This includes expensive racks of servers that contain GPUs and other chips that train and run AI models and services such as ChatGPT.
Internal emails from August show Amazon preparing a new "Early Rack Receipt" process for an expected wave of server racks carrying Nvidia's GB300 chips at US facilities before final deployment.
One Amazon email projected the company would take delivery of about $5 billion of Nvidia GB300 racks in August, followed by another roughly $3 billion each month "for the foreseeable future."
Some AWS data center sites had room for more racks but not enough available power to turn them on, people familiar with the effort said, leaving the equipment to be staged at intermediary warehouses until the facilities were ready. These people asked not to be identified discussing sensitive matters.
Timing and coordinationUsually, Amazon doesn't pay for racks until the gear is put into a data center, leaving suppliers to carry the cost of the equipment in transit, according to the internal documents obtained by Business Insider. This helps the company conserve cash.
However, the intensity of the AI data center building boom has made this type of coordination harder. Amazon has to compete more for scarce resources as it jockeys with rivals for access to Nvidia GPUs and other AI components.
Under the new "Early Rack Receipt" process, Amazon now takes ownership of these racks earlier in the supply chain, rather than waiting until the equipment reaches a data center.
The means spending cash sooner. And any delays getting the racks installed and plugged into a reliable power source potentially pushes back the moment when revenue starts flowing from these assets.
At least one AWS supply chain team did not have "a clear forecasted path" for getting racks into data centers, according to one of the emails reviewed by Business Insider.
An Amazon spokesperson said the company routinely stages finished hardware near deployment sites so it can be installed once power capacity is available, calling that approach "best business practice."
The spokesperson added that AWS has "long-established systems" to track infrastructure assets and disputed that the broader company lacks a forecasted path for getting racks into data centers.
This problem is not unique to Amazon.
Bernstein analysts wrote in a recent note that power permits, cooling systems, electrical equipment, construction, and hardware all move on separate schedules.
"Timing is imperfect," the analysts said.
"Inherently uncertain"
John Felton, Chief Financial Officer of Amazon Web Services Chris Jung/NurPhoto via Getty Images During the internal staff meeting in September, Felton, the AWS CFO, described the broader problem eloquently: "How do you work in the future when the future is inherently uncertain?"
Kalyanaraman, the AI infrastructure leader, said Amazon's internal outlook for the return on its AI investments had improved. But the assumptions behind those returns keep shifting.
"The forecast is changing on a daily basis," Kalyanaraman said. "The world that we live in is extremely dynamic."
Those shifting assumptions include when data centers will be ready and how much equipment AWS needs to keep on hand, he explained.
An eight-week supply buffer might be routine for a smaller company. But at Amazon's scale, Kalyanaraman said, this could mean holding "billions and billions of dollars" worth of additional equipment inventory — tying up precious cash.
Frugality meets the AI boomSuch tensions are especially striking for Kalyanaraman, a 21-year Amazon veteran who earlier this year was promoted to the elite S-team that reports directly to Jassy.
Amazon's founding story is defined by frugality. It famously used cheap doors as desks when founder Jeff Bezos started in Seattle in the mid-90s.
Kalyanaraman has absorbed this lore into bones. In late 2023, as AWS faced slower growth and layoffs, he urged employees to do more with less. "Frugality breeds innovation," he said back then.
That instinct still shapes his approach. In the September meeting this year, Kalyanaraman told Felton that AWS tries to make major investments at the "last responsible moment," when it has the clearest possible view of demand.
"If we can wait to spend the capital as late as possible, it's better for us," he said.
Amazon CEO Andy Jassy Bloomberg/Getty Images But the frenetic pace of the AI boom makes this principle difficult to follow. By the time demand is fully visible, the servers, power, and construction capabilities that AWS needs may no longer be available. That puts pressure on the company to commit more money sooner to secure supply and meet its data center capacity goals.
Kalyanaraman recalled telling Jassy in 2023 that AWS would "surely" be out of its capacity crunch by 2027. Instead, Amazon still expects demand to exceed its available capacity in 2027, the AI infrastructure chief said during the meeting this September.
Secured Power at RiskGetting enough electricity may be the biggest challenge for an industry leader like Amazon.
The company has 44 gigawatts of data center capacity under development across 16 states, more than double Google, Meta, and Microsoft, according to Cleanview Research estimates.
An internal AWS dashboard called "Secured Power at Risk" tracks utility and regulatory constraints affecting electricity capacity AWS has lined up for its data centers.
The risks include transmission bottlenecks, requirements to reduce use during grid stress, and "use it or lose it" provisions that can jeopardize capacity if a data center project misses usage or construction milestones.
In other words, AWS is not simply waiting for electricity to arrive. It is managing a portfolio of commitments that can become more costly if a data center project is delayed.
Maryland proposalsA submission to Maryland's utility regulator last year, obtained through a public records request, illustrates the kind of exposure that can accompany massive data center buildouts.
Amazon told the Maryland Public Service Commission that large data center customers could help pay for grid upgrades or bring new power capacity to market without burdening other electricity ratepayers.
The company also proposed setting aside collateral to help utilities get more comfortable with the large investments needed to generate more electricity for data centers. Amazon proposed three years of collateral so that if a large electricity customer abandoned unused capacity, the utility would have time to re-sell the power.
The proposal is not evidence that AWS has made such a payment or posted collateral. It does, however, show that large data centers can face extra financial obligations, beyond their own electricity bills, if projects are delayed or cancelled.
The Amazon spokesperson said such utility rules are not unique to AWS. The company has not disclosed how much cash it has paid upfront to secure power.
New constraints 'keep popping up'The AI buildout also incurs expenses that are harder to model than a conventional capex plan.
In the September meeting this year, Kalyanaraman said that while reviewing plans for gigawatts of capacity in West Texas, AWS confronted a labor problem: There weren't enough nearby pipefitters, electricians, and other skilled workers to build the facilities.
The company's response, he said, was to pay to construct housing complexes near its data centers so workers could live there for the two or three years needed to complete the projects.
Even the crates used to ship servers have become a planning issue. It may seem absurd to worry about the price of a container when servers cost hundreds of thousands of dollars, Kalyanaraman said. But at AWS's scale, where the company needs so many crates, even trivial items can become a material expense.
"We have new constraints that keep popping up," Kalyanaraman said.
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Eugene is Business Insider’s Chief Tech Correspondent, where he leads coverage of Amazon. His reporting spans the company’s retail and logistics operations to AWS, Alexa, and its internal culture.Previously, he worked at CNBC, Fortune Magazine Korea, and Japan's Yomiuri Shimbun. He holds degrees from NYU and Columbia University’s Graduate School of Journalism.In 2022, Eugene reported on internal documents indicating that Amazon allegedly used deceptive tactics to enroll customers in Prime and made cancellation difficult. The Federal Trade Commission sued Amazon the following year, citing his reporting. The case ended in a record $2.5 billion settlement in 2025.His work has received multiple honors, including the SF Press Club’s Bay Area Journalism Award and SPJ NorCal’s Excellence in Journalism Award.Eugene lives in the Bay Area. Contact him via email at [email protected], or Signal, Telegram, or WhatsApp at 650-942-3061. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.
Amazon Big Tech AWS More Artificial Intelligence Exclusive Data Centers AI Insider
Cetera Trust Company N.A bought a new position in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,170 shares of the software giant’s stock, valued at approximately $4,913,000. Microsoft accounts for about 2.5% of Cetera Trust Company N.A’s portfolio, making the stock its 5th biggest holding.
Other large investors have also recently bought and sold shares of the company. Auto Owners Insurance Co lifted its position in Microsoft by 56,160.8% in the fourth quarter. Auto Owners Insurance Co now owns 60,116,384 shares of the software giant’s stock worth $29,073,486,000 after purchasing an additional 60,009,531 shares during the period. Amundi raised its stake in shares of Microsoft by 30.8% in the 1st quarter. Amundi now owns 41,675,076 shares of the software giant’s stock valued at $15,426,862,000 after buying an additional 9,814,598 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Microsoft by 10.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 29,323,744 shares of the software giant’s stock valued at $10,852,884,000 after buying an additional 2,784,809 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Microsoft by 64.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 24,264,779 shares of the software giant’s stock valued at $8,982,083,000 after buying an additional 9,493,778 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Microsoft by 7.8% during the 4th quarter. Hsbc Holdings PLC now owns 22,138,798 shares of the software giant’s stock worth $10,715,379,000 after acquiring an additional 1,599,412 shares during the period. 71.13% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth Several brokerages have recently weighed in on MSFT. Guggenheim reiterated a “buy” rating and set a $586.00 target price on shares of Microsoft in a research report on Monday, July 27th. BMO Capital Markets started coverage on shares of Microsoft in a research note on Monday, October 5th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of Microsoft in a research report on Monday, September 28th. Cantor Fitzgerald raised their price target on shares of Microsoft from $522.00 to $608.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st. Finally, DA Davidson restated a “buy” rating and set a $550.00 price target on shares of Microsoft in a research note on Thursday, July 30th. Forty-two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and an average price target of $589.71.
Get Our Latest Research Report on MSFT Insider Activity In other Microsoft news, EVP Takeshi Numoto sold 4,810 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $496.48, for a total value of $2,388,068.80. Following the transaction, the executive vice president directly owned 42,677 shares in the company, valued at $21,188,276.96. The trade was a 10.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Satya Nadella sold 86,525 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $501.46, for a total transaction of $43,388,826.50. Following the sale, the chief executive officer directly owned 486,763 shares in the company, valued at $244,092,173.98. This represents a 15.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 150,314 shares of company stock valued at $75,404,992 in the last ninety days. 0.03% of the stock is currently owned by corporate insiders.
Key Stories Impacting Microsoft Here are the key news stories impacting Microsoft this week:
Positive Sentiment: Analysts expect Microsoft to remain the only major hyperscaler with positive free cash flow over the next year despite heavy AI investment. This reinforces confidence that the company can fund data-center expansion without substantial external financing. Microsoft Free Cash Flow Expected to Remain Positive Positive Sentiment: Microsoft signed a 20-year agreement with NiSource for approximately 1,100 megawatts of power for an Indiana data-center campus beginning in 2028. Securing electricity supports future Azure capacity as grid constraints become a bottleneck for AI expansion. Microsoft Signs Power Deal With NiSource Positive Sentiment: Microsoft’s custom Maia AI chips and reports that a new model achieved comparable or better performance than OpenAI’s system using a fraction of the computing power could eventually reduce reliance on expensive third-party GPUs and improve AI economics. Microsoft Wants to Make AI Cheaper Neutral Sentiment: Investors are focused on Azure growth, Copilot adoption, AI monetization and capital expenditures ahead of earnings. Strong demand could support the shares, but the market wants evidence that revenue growth is translating into sustainable margins. Negative Sentiment: The U.K. Competition and Markets Authority is investigating Microsoft’s grip on business software and says Microsoft and Amazon Web Services may need to do more to address cloud-service barriers. Potential remedies could increase compliance costs or weaken customer-lock-in advantages. UK Regulator Targets Microsoft’s Business Software Grip Negative Sentiment: Questions remain over whether custom chips will deliver meaningful savings: AI infrastructure, power and data-center commitments are rising rapidly, while Microsoft is reportedly seeking substantial cost reductions in Azure. That creates concern about near-term free-cash-flow and margin pressure. Microsoft Price Performance Shares of NASDAQ MSFT opened at $529.05 on Monday. The stock has a market cap of $3.93 trillion, a PE ratio of 29.46, a PEG ratio of 1.70 and a beta of 1.10. The business has a fifty day moving average of $505.53 and a two-hundred day moving average of $441.16. Microsoft Corporation has a 52-week low of $349.20 and a 52-week high of $553.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.22 and a current ratio of 1.23.
Microsoft (NASDAQ:MSFT – Get Free Report) last issued its earnings results on Wednesday, July 29th. The software giant reported $4.74 EPS for the quarter, beating the consensus estimate of $4.24 by $0.50. Microsoft had a net margin of 40.31% and a return on equity of 31.98%. The company had revenue of $90.01 billion for the quarter, compared to the consensus estimate of $87.62 billion. During the same quarter in the previous year, the company earned $3.65 EPS. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities research analysts expect that Microsoft Corporation will post 19.65 earnings per share for the current fiscal year.
Microsoft Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $3.92 annualized dividend and a yield of 0.7%. This is an increase from Microsoft’s previous quarterly dividend of $0.91. Microsoft’s payout ratio is 20.27%.
Microsoft Profile (Free Report)
Microsoft Corporation (NASDAQ:MSFT) is a global technology company that develops software, cloud services, devices and digital platforms. Its products and services are used by consumers, businesses, governments and educational institutions worldwide.
The company’s principal offerings include the Windows operating system; Microsoft 365 productivity applications such as Word, Excel, Teams and Outlook; Azure cloud computing and infrastructure services; Dynamics business applications; and enterprise security solutions.
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Microsoft 28. října zveřejní výsledky za první čtvrtletí fiskálního roku 2027; klíčové budou růst Azure a rozšiřování Copilotu, který měl k 30. červnu 30 milionů placených licencí.
Volatility gripped the stock market last week amid concerns about the sustainability of the artificial intelligence (AI) infrastructure spending boom. The S&P 500 experienced a modest decline, but it continues to trade at a historically expensive valuation, so strong corporate earnings will be necessary to keep this bull market going.
As a result, all eyes are on the current reporting season. Microsoft (MSFT -1.93%) will release its operating results for its fiscal 2027 first quarter (ended Sept. 30) on Oct. 28, and Wall Street will be squarely focused on the Azure cloud platform and Copilot virtual assistant, which are central to the company's AI strategy.
Microsoft stock is attractively valued heading into the report, so here's why I predict it will climb in the weeks and months that follow.
Image source: Getty Images.
Positioned to lead the enterprise AI race
AI is a powerful tool in an enterprise because it can dramatically improve productivity by automating tasks, analyzing large volumes of data, and even generating content like images and computer code. Microsoft is helping businesses tap into the power of AI through Copilot and Azure, and both represent enormous opportunities for the company.
The Copilot assistant is embedded in Microsoft's legacy software products like Windows and Edge for free. But enterprises can also add it to the 365 productivity suite (which includes Word and Excel) for an additional monthly subscription fee. As of June 30, organizations worldwide were paying for 30 million Copilot licenses for 365, a staggering 50% increase from just three months earlier.
However, organizations pay for more than 400 million 365 licenses for their employees, so Copilot adoption is still in the very early stages. Investors should keep an eye out for some updated numbers on Oct. 28.
MSFT Microsoft$529.05-$10.39 (-1.93%)
NASDAQ · As of 4:00 PM ET 10/16/26
Then there is the Azure cloud platform, which provides every tool enterprises need to deploy AI software applications. That includes computing capacity from specialized data centers, more than 11,000 ready-made foundation models, and a platform called Foundry where they can design and manage custom AI agents.
Microsoft built 88 new data centers during fiscal 2026 as part of a two-year plan to double its global infrastructure footprint. This will help Azure convert its enormous $678 billion in remaining performance obligations (RPO) into revenue, which effectively represents the platform's order backlog from customers who are waiting for more infrastructure to come online.
Azure's revenue growth accelerated to 43% in the final quarter of fiscal 2026, so the platform was carrying significant momentum into the fiscal 2027 first-quarter earnings report. A further acceleration will be very bullish for Microsoft stock, but so will growth in the company's RPO, because it can be a good indicator of future revenue.
Microsoft stock could soar after Oct. 28, but there is one caveat
Based on Microsoft's fiscal 2026 earnings of $17.95 per share, its stock is trading at a price-to-earnings (P/E) ratio of 30.1, which is a discount to its five-year average of 32. Plus, the stock has a forward P/E of 27.3 based on Wall Street's average fiscal 2027 earnings estimate of $19.78 per share (provided by Yahoo! Finance), leaving even more room for potential upside.
MSFT PE Ratio data by YCharts
Nevertheless, the AI industry faces increasing doubts right now that could jeopardize Microsoft's ability to actually deliver on Wall Street's fiscal 2027 earnings estimate. Labs like OpenAI and Anthropic are facing questions about their valuations and growth rates, which could reduce their ability to raise more money from investors. Moreover, neocloud companies like CoreWeave are dealing with a surge in borrowing costs on concerns they won't be able to deliver on their lofty future projections, which could weigh on the stock market overall.
OpenAI has committed to spend more than $300 billion on Microsoft Azure's cloud services during the next few years, but it doesn't actually have that money today. OpenAI will have to increase its revenue significantly and also raise more money to meet all of its commitments, so if it fails on either front, Microsoft's RPO could take a hit.
For all of those reasons, the first-quarter earnings report is likely to set the tone for Microsoft stock for at least the next few months. I think there could be upside ahead based on its attractive valuation, and the sheer size of its RPO –- even if we exclude OpenAI's contribution entirely, Azure is still likely to be backlogged for the next couple of years. However, investors might want to manage their risk by using a small position size given the uncertain environment.
AMD očekává ve třetím čtvrtletí tržby ve výši 12,7 až 13,3 miliardy USD, což představuje meziroční růst zhruba o 41 %; klíčový bude výhled růstu systému Helios ve čtvrtém čtvrtletí.
Advanced Micro Devices (AMD -5.96%) shareholders have had a remarkable 2026. As of this writing, the stock is around $530, up more than 140% since the year started.
The last two weeks have been tougher. On Oct. 6, the stock closed at a record $649.42. Since then, it's dropped around 19%. And the pullback comes about two weeks before AMD reports third-quarter results on Tuesday, Nov. 3.
Is the stock worth buying before that report, or is it better to wait for management's update? I lean toward buying. Most of what the report has to show is already in AMD's own guidance.
Image source: AMD.
AMD keeps topping its own guidanceWhen AMD posted second-quarter results on Aug. 4, management guided for third-quarter revenue between $12.7 billion and $13.3 billion. The $13 billion midpoint is around 41% above the year-ago period and about 13% above the second quarter's record $11.5 billion. Management also sees a non-GAAP (adjusted) gross margin of around 56%, matching the second quarter.
AMD has given investors reason to trust these ranges. First-quarter revenue of $10.3 billion was above the top of the company's guidance range of $9.5 billion to $10.1 billion. Second-quarter revenue then edged just over the top of its range.
Profits are keeping up, too. Adjusted earnings per share hit $1.66 for the second quarter, up 21% sequentially. Against a year-ago quarter dragged down by $800 million of inventory and related charges linked to U.S. export controls, it more than tripled.
But a strong report hasn't guaranteed a strong reaction. Shares lost 7% the day after the second-quarter report, and the two reports before that brought a 17% slide in February and a 19% rise in May.
Will data center growth slow in Q3?Showing how much AMD now leans on it, the data center segment, which sells server processors and artificial intelligence (AI) accelerators, made up 58% of second-quarter revenue. Sales there climbed from $5.4 billion in the fourth quarter of 2025 to $5.8 billion and then $6.7 billion in the first two quarters of 2026. Year-over-year growth picked up every time: 39%, then 57%, then 107%.
But the run will probably end in the third quarter, at least on paper. The segment pulled in $4.3 billion in the year-ago quarter, so even 100% growth would mean around $8.7 billion in data center revenue -- about $2 billion over its second-quarter total. AMD's guidance adds only about $1.5 billion in revenue for the whole company, and management expects gaming sales to fall.
Chief financial officer Jean Hu said on the second-quarter earnings call that the data center acceleration AMD expects compares the second half of 2026 to the first half, not one quarter to the last. And management still sees strong double-digit sequential growth in data center revenue in the third quarter.
So, a slower year-over-year rate would mainly reflect a far tougher comparison, not a slowing business.
Helios is the bigger testMuch of AMD's growth from here rides on Helios, its rack-scale AI server system. On that same call, CEO Lisa Su spelled out the timing.
"We've said Q3 is the very beginning of the ramp, Q4 is a step-up, and then Q1 will be a further step-up and we'll ramp as we go through 2027," she said.
So the third-quarter results probably won't show much of Helios. The fourth-quarter revenue guidance AMD gives on Nov. 3 is likely where Su's step-up first shows up.
AMD Advanced Micro Devices$528.75-$33.48 (-5.96%)
NASDAQ · As of 4:00 PM ET 10/16/26
That outlook is also where the stock is most exposed. Going by analysts' average estimate, shares trade at around 34 times 2027 earnings, down from about 41 times 2027 earnings at the Oct. 6 record close. True, that's a lower valuation than the stock had at its high. But it still assumes Helios ramps on schedule. A fourth-quarter outlook with a smaller step-up than Su described could push shares down, even if third-quarter revenue tops its range again.
Investors who'd rather see that guidance before paying 34 times expected 2027 earnings have a reasonable case for waiting. After all, the stock has swung at least 7% the day after each of its past three reports.
Still, I think the pullback and AMD's record against its own guidance make the stock attractive at this price. I'd consider buying a starter position before the report and leave room to add if the price comes down.
Barlow Wealth Partners LLC raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,776 shares of the computer hardware maker’s stock after buying an additional 3,028 shares during the quarter. NVIDIA comprises approximately 4.8% of Barlow Wealth Partners LLC’s holdings, making the stock its 3rd largest position. Barlow Wealth Partners LLC’s holdings in NVIDIA were worth $46,085,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Boyd Wealth Management LLC increased its holdings in NVIDIA by 273.4% in the 2nd quarter. Boyd Wealth Management LLC now owns 9,145 shares of the computer hardware maker’s stock worth $1,830,000 after buying an additional 6,696 shares during the period. Ally Financial Inc. raised its position in NVIDIA by 10.3% during the 2nd quarter. Ally Financial Inc. now owns 172,000 shares of the computer hardware maker’s stock worth $34,415,000 after buying an additional 16,000 shares during the last quarter. Altshuler Shaham Ltd lifted its stake in NVIDIA by 6,451.9% during the 1st quarter. Altshuler Shaham Ltd now owns 637,236 shares of the computer hardware maker’s stock valued at $111,134,000 after acquiring an additional 627,510 shares during the period. Storen Legacy Partners LLC acquired a new stake in NVIDIA during the 4th quarter valued at approximately $1,350,000. Finally, Baker Tilly Wealth Management LLC boosted its holdings in shares of NVIDIA by 7.4% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 71,898 shares of the computer hardware maker’s stock valued at $14,386,000 after acquiring an additional 4,958 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.
Key NVIDIA News Here are the key news stories impacting NVIDIA this week:
Positive Sentiment: New RTX Spark laptops expand NVIDIA’s addressable market. Systems from ASUS, Dell, HP, Lenovo, Microsoft and MSI are now available starting at $2,599, combining Blackwell graphics, up to 128GB of memory and local AI capabilities. The launch could create a new consumer and developer revenue stream beyond data centers. NVIDIA RTX Spark PCs Available Today Positive Sentiment: Automotive and enterprise adoption continues. Volvo expanded its partnership with NVIDIA for automated-driving systems, while Adobe is integrating NVIDIA technology across Photoshop, Premiere and other creative tools. These agreements support longer-term demand for NVIDIA hardware and software. Volvo Cars expands automated driving partnership Positive Sentiment: Supply-chain investment and customer deployments remain strong. Taiwan is reportedly considering as much as $4 billion for Texas industrial parks serving NVIDIA suppliers, and customers continue deploying Blackwell systems. The developments reinforce demand, although they may take time to affect revenue. Taiwan Texas industrial parks Neutral Sentiment: NVIDIA is broadening its software and AI-model ecosystem. Paid offerings such as AI Enterprise and Mission Control, along with Nemotron open models and partnerships with AI startups, could make earnings less dependent on hardware. However, the articles provide no near-term financial contribution. Negative Sentiment: AI financing concerns are the main pressure. CoreWeave’s debt has reportedly traded at distressed yields, raising questions about whether highly leveraged customers can continue funding data-center expansion. Higher Treasury yields and inflation concerns are also making large AI projects more expensive. CoreWeave financing worries Negative Sentiment: Investors are questioning AI growth expectations. OpenAI’s reported $50 billion revenue run rate was below the roughly $68 billion previously anticipated, prompting concern that AI demand may mature more slowly. Microsoft’s development of custom Maia chips also highlights the risk of customers developing alternatives to NVIDIA GPUs. OpenAI revenue expectations Negative Sentiment: Reported insider selling adds a sentiment overhang. Recent data showed NVIDIA insiders made numerous sales and no open-market purchases over the past six months, though such transactions may reflect planned diversification rather than a change in business outlook. Insider Buying and Selling at NVIDIA In other news, Director Mark A. Stevens sold 622,239 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $231.62, for a total transaction of $144,122,997.18. Following the completion of the sale, the director owned 2,336,531 shares of the company’s stock, valued at $541,187,310.22. The trade was a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 34,918 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the sale, the chief financial officer directly owned 765,103 shares of the company’s stock, valued at $167,595,812.15. This represents a 4.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,766,118 shares of company stock valued at $399,450,353 over the last ninety days. Corporate insiders own 3.94% of the company’s stock. Analyst Ratings Changes A number of analysts have recently weighed in on NVDA shares. KGI Securities increased their price objective on shares of NVIDIA from $335.00 to $345.00 in a research note on Thursday, August 27th. Mizuho set a $315.00 target price on shares of NVIDIA and gave the stock an “outperform” rating in a report on Thursday, August 27th. Sanford C. Bernstein restated a “buy” rating on shares of NVIDIA in a research report on Monday, September 21st. Evercore set a $465.00 target price on shares of NVIDIA and gave the company an “outperform” rating in a research report on Thursday, August 27th. Finally, DZ Bank reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, August 26th. Five analysts have rated the stock with a Strong Buy rating, forty-nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $321.89.
Read Our Latest Report on NVDA
NVIDIA Stock Performance Shares of NVDA stock opened at $214.13 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 3.85. The company has a market cap of $5.16 trillion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.65 and a beta of 2.22. The stock has a 50 day simple moving average of $223.20 and a 200-day simple moving average of $211.42. NVIDIA Corporation has a 1-year low of $164.27 and a 1-year high of $243.37.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.13. NVIDIA had a return on equity of 96.04% and a net margin of 63.66%. The firm had revenue of $96.22 billion for the quarter, compared to analyst estimates of $92.27 billion. During the same quarter last year, the firm posted $1.05 EPS. The business’s revenue was up 105.9% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Corporation will post 9.30 EPS for the current fiscal year.
NVIDIA declared that its Board of Directors has approved a share repurchase plan on Monday, September 28th that permits the company to repurchase $150.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 2.8% of its shares through open market purchases. Share buyback plans are usually a sign that the company’s board believes its shares are undervalued.
NVIDIA Dividend Announcement The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. NVIDIA’s dividend payout ratio is currently 12.64%.
NVIDIA Profile (Free Report)
NVIDIA Corporation (NASDAQ: NVDA) is a technology company that designs graphics processing units (GPUs), accelerated computing platforms, networking products and related software. Its technologies support artificial intelligence, machine learning, scientific computing, data analytics, professional visualization and computer graphics.
The company’s products include GeForce GPUs for gaming and personal computing, data center GPUs and systems for AI and high-performance computing, and networking solutions used to connect and manage large-scale computing infrastructure.
Featured Articles Five stocks we like better than NVIDIA These 3 Green Stocks Have a Growth Story That Goes Far Beyond Washington Meta Claims Frontier-Class AI Status With New Muse Wonder Models Berkshire Just Backed This Little-Known Stock—Should You Chase It? Broadcom’s CEO Sees Years of AI Demand But Warns of a Bigger Threat to the Boom Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA – Free Report).
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Visa (V +0.71%) stock is trading at an all-time high, thanks to a major price surge over the past two weeks.
The payment processor ended September at $359 per share, and in the two weeks since, it has climbed about 12% to $401 per share, an all-time high.
Visa stock is up 14% year to date, with pretty much all of the gains coming in the past two weeks. There have been a few catalysts for Visa; most notably, it got approval from the People's Bank of China to establish a bankcard clearing institution in China. This opens up one of the biggest markets in the world for Visa.
Image source: Getty Images.
Also, on Oct. 15, the company's Visa Direct stablecoin officially moved from the pilot stage to commercial deployment. Now, businesses can use the Visa stablecoin platform, marking a key milestone in bringing stablecoin-enabled money movement into commercial operations.
With these new developments, Visa stock got price target upgrades from both Baird and BMO Capital, perhaps providing a further boost.
A buy heading into earnings?
Visa reports its fiscal fourth-quarter earnings on Oct. 27, and it typically raises its dividend in Q4. It has done that every year since 2009, and it's usually a substantial raise.
Last year, it bumped up the dividend 14% to $0.67 per share, and the year before that it was 13%. The two years previous to that, the raises were 15% and 20%, respectively.
$402.61+$2.86 (+0.71%)
NYSE · As of 4:00 PM ET 10/16/26
Investors should expect a sizable dividend bump on Oct. 27, given that Visa anticipates Q4 revenue gains at the high end of low double digits, similar to the 14% gain in Q3. For the full fiscal year, it anticipates revenue growth in the low-teens and earnings per share (EPS) growth in the low- to mid-teens.
I still like it as a buy heading into earnings, with its forward P/E at a reasonable 24. Visa is durable across markets, which is why I like it as a long-term buy at this valuation.
JPMorgan Chase has made $5 billion in startup investments in the first year of its U.S. security and resiliency initiative, the company said Monday, a faster-than-expected pace that indicates the bank is finding plentiful opportunities in emerging defense, manufacturing and supply chain firms.
The bank, which last year said it would deploy $10 billion into startups over a decade, may expand the program beyond that initial dollar amount, JPMorgan co-president Doug Petno told CNBC in an interview.
Todd Combs, the former Berkshire Hathaway executive who leads the JPMorgan group in charge of making startup investments, has "hit the ground running," Petno said. "He's done a great job and put us in some really interesting companies," he added.
Most of those investments have yet to be disclosed, but two known stakes seem emblematic of the project's mission to bolster companies that are needed for a more dangerous and chaotic era of geopolitics. JPMorgan, the biggest U.S. bank by assets, has taken direct stakes in defense-related startups Hadrian and Castelion.
Wars in Ukraine and the Middle East, as well as trade disputes with China, have threatened the flow of energy and key components needed for U.S. industries and defense, which spurred JPMorgan CEO Jamie Dimon into creating the initiative a year ago.
He put Petno, widely seen as one of two key possible successors, in charge of the overall investment project. Combs, a former board member of the bank, reports directly to Dimon.
The scope of the project extends beyond supply chain, defense and manufacturing to include frontier technologies and the pharmaceutical and health-tech industries.
"There's a lot of really interesting companies that have been working to solve some of these problems," Petno said.
These "early venture-stage, advanced manufacturing companies have found ways to build these capabilities in the U.S." rather than relying on overseas trading partners, he said.
In August, the bank helped lead a $1.4 billion funding round in Hadrian, which builds automated factories that make parts for the defense, aerospace and maritime sectors. A California factory run by Hadrian has 10 robots for every human employee, according to the startup's founder.
That month, JPMorgan was also involved in a $1 billion funding round for Castelion, whose flagship product is a relatively low-cost hypersonic missile called Blackbeard. Castelion was founded in late 2022 by a group of former SpaceX engineers.
"Our approach is to find generational companies and partner with them for the long term," Combs said in a statement Monday.
"Putting more than $5 billion to work in our first year shows how many exceptional businesses are building in industries that strengthen critical supply chains," Combs said.
Risky business? That JPMorgan would make billions of dollars of direct investments in nascent companies is a departure from its usual role as a lender and advisor.
Before the defense initiative, the bank had moved away from taking startup stakes, which can be relatively risky bets on unproven technologies. JPMorgan spun off its private equity business, One Equity Partners, more than a decade ago.
In its more traditional role, JPMorgan has also financed and facilitated more than $230 billion for industries that support American national interests, according to the bank.
That part of its security and resiliency project, meant to hit $1.5 trillion over 10 years, is led by Jay Horine, a former co-head of investment banking.
JPMorgan built a team of about three dozen bankers for the project, who are aided by hundreds more across the firm, as it expanded the initiative to Europe and Canada.
Its bankers are mapping distribution lines for key products, from submarines and missiles to aircraft, to identify suppliers that may lack the capital or capacity to meet rising demand, according to Petno.
JPMorgan is also in regular communication with the U.S. Department of Defense and Department of Commerce about the government's needs, he said.
TD Waterhouse Canada ve třetím čtvrtletí zvýšila svůj podíl ve společnosti Johnson & Johnson o 22,6 % nákupem 227 243 akcií, čímž její celkový počet akcií vzrostl na 1 232 683.
TD Waterhouse Canada Inc. increased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 22.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,232,683 shares of the company’s stock after purchasing an additional 227,243 shares during the period. Johnson & Johnson accounts for about 0.8% of TD Waterhouse Canada Inc.’s holdings, making the stock its 28th biggest holding. TD Waterhouse Canada Inc. owned approximately 0.05% of Johnson & Johnson worth $319,176,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in shares of Johnson & Johnson by 12.5% during the second quarter. Wellington Management Group LLP now owns 22,588,696 shares of the company’s stock worth $5,736,851,000 after purchasing an additional 2,513,321 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Johnson & Johnson by 8.5% in the second quarter. Deutsche Bank AG now owns 15,661,323 shares of the company’s stock worth $3,977,506,000 after buying an additional 1,225,676 shares during the period. Amundi grew its stake in shares of Johnson & Johnson by 17.5% in the first quarter. Amundi now owns 13,406,820 shares of the company’s stock valued at $3,277,163,000 after buying an additional 2,001,139 shares in the last quarter. Jupiter Topco LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at about $1,967,399,000. Finally, Janus Henderson Group PLC grew its stake in shares of Johnson & Johnson by 1.9% in the first quarter. Janus Henderson Group PLC now owns 7,872,478 shares of the company’s stock valued at $1,924,323,000 after buying an additional 148,497 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.
Johnson & Johnson Stock Performance Shares of JNJ stock opened at $255.54 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.09 and a quick ratio of 0.81. The company’s fifty day moving average price is $265.66 and its two-hundred day moving average price is $249.66. The firm has a market capitalization of $615.82 billion, a P/E ratio of 38.72, a P/E/G ratio of 2.53 and a beta of 0.21. Johnson & Johnson has a 12 month low of $184.66 and a 12 month high of $281.07.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its earnings results on Tuesday, October 13th. The company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.06. Johnson & Johnson had a return on equity of 31.54% and a net margin of 16.20%. The company had revenue of $25.40 billion during the quarter, compared to the consensus estimate of $25.38 billion. During the same period last year, the firm earned $2.80 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. Johnson & Johnson has set its FY 2026 guidance at 11.050-11.150 EPS. On average, research analysts anticipate that Johnson & Johnson will post 11.12 earnings per share for the current fiscal year. Johnson & Johnson Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 24th will be issued a $1.34 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $5.36 dividend on an annualized basis and a yield of 2.1%. Johnson & Johnson’s dividend payout ratio is currently 81.21%.
Johnson & Johnson News Roundup Here are the key news stories impacting Johnson & Johnson this week:
Positive Sentiment: Raised 2026 outlook: Third-quarter operational sales grew 6%, reaching $25.4 billion, and management increased full-year operational sales guidance to approximately $100.7 billion at the midpoint. Adjusted EPS also exceeded analysts’ expectations. Johnson & Johnson: 3 Key Takeaways for Long-Term Investors Positive Sentiment: Pharmaceutical momentum and pipeline potential: Strong demand for TREMFYA, early momentum for ICOTYDE and oncology investments helped offset weakness elsewhere. Investors are also watching J&J’s newly approved surgical robot as a potential long-term MedTech growth driver. Does Raised 2026 Outlook Change the Bull Case for Johnson & Johnson? Positive Sentiment: Defensive appeal and income support: Investors rotating away from technology stocks amid inflation and interest-rate concerns are favoring dividend-paying healthcare companies. J&J also affirmed its $1.34-per-share fourth-quarter dividend, payable in December 2026. Morgan Stanley maintained an “overweight” rating with a $292 price target. Neutral Sentiment: Institutional demand: ETFs recorded approximately $107.4 million of net buying in JNJ, suggesting some portfolio managers continue to view the company as a defensive holding. However, this flow is not necessarily evidence of a change in operating fundamentals. Johnson & Johnson Sees $107.4 Million in Net ETF Buying Negative Sentiment: MedTech weakness remains the main overhang: Medical-device sales missed Wall Street forecasts, while international pricing pressure and acquisition-related costs weighed on results. Analysts described the quarter as setting a negative tone for the broader pharmaceutical sector. Johnson & Johnson Stock Falls on MedTech Miss Negative Sentiment: Valuation and analyst caution: JNJ trades at a premium earnings multiple, increasing the risk of further pressure if growth disappoints. Erste Group expressed a negative view on fiscal 2027 earnings, while RBC lowered its price expectations. Analyst Ratings Changes Several equities research analysts recently commented on the company. Bank of America reiterated a “neutral” rating and set a $278.00 target price on shares of Johnson & Johnson in a report on Tuesday, September 29th. Scotiabank restated an “outperform” rating and issued a $305.00 price target on shares of Johnson & Johnson in a report on Thursday, July 16th. Sanford C. Bernstein set a $270.00 price target on Johnson & Johnson in a report on Thursday. Johnson Rice reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Monday, August 3rd. Finally, Raymond James Financial set a $280.00 price objective on shares of Johnson & Johnson in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $274.87.
Check Out Our Latest Stock Report on Johnson & Johnson
Insider Activity at Johnson & Johnson In other Johnson & Johnson news, EVP Timothy Schmid sold 33,597 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $274.74, for a total transaction of $9,230,439.78. Following the completion of the sale, the executive vice president owned 25,447 shares in the company, valued at $6,991,308.78. This trade represents a 56.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth Forminard sold 15,918 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $257.00, for a total value of $4,090,926.00. Following the sale, the executive vice president owned 16,994 shares of the company’s stock, valued at approximately $4,367,458. This trade represents a 48.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 64,515 shares of company stock valued at $17,271,766. Insiders own 0.16% of the company’s stock.
(Free Report)
Johnson & Johnson (NYSE: JNJ) is a global healthcare company headquartered in New Brunswick, New Jersey. Founded in 1886, the company develops and markets products and services for patients, healthcare professionals and institutions worldwide.
Johnson & Johnson operates through two principal segments: Innovative Medicine and MedTech. Innovative Medicine focuses on pharmaceuticals for areas such as immunology, oncology, neuroscience, infectious diseases and cardiovascular conditions.
Recommended Stories Five stocks we like better than Johnson & Johnson These 3 Green Stocks Have a Growth Story That Goes Far Beyond Washington Meta Claims Frontier-Class AI Status With New Muse Wonder Models Berkshire Just Backed This Little-Known Stock—Should You Chase It? Broadcom’s CEO Sees Years of AI Demand But Warns of a Bigger Threat to the Boom Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ – Free Report).
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Altria nabízí očekávaný dividendový výnos 5,9 % a zvyšuje dividendu již 57 let v řadě. Pravidelná investice 100 USD měsíčně po dobu deseti let přinesla zhruba 4 800 USD na dividendách.
Altria (MO +1.72%), the largest tobacco company in the U.S., pays a forward dividend yield of 5.9%. It's raised its dividend annually for 57 consecutive years, making it a Dividend King that has increased its payout for at least 50 straight years.
If you had invested $100 per month over the past ten years into Altria, your principal would have grown from $12,000 to $13,800. But you would also have received about $4,800 in dividends.
Image source: Getty Images.
Is Altria still a reliable dividend stock?
Altria's future might seem murky because adult smoking rates in the U.S. have dropped from over 40% in the 1960s to less than 10% today. But to offset that pressure, it constantly raises its cigarette prices, cuts costs, and repurchases more shares to boost its EPS. It's also expanding its smokeless portfolio with e-cigarettes, nicotine pouches, snus, and other products.
MO Altria Group$75.11+$1.27 (+1.72%)
NYSE · As of 4:00 PM ET 10/16/26
By 2028, Altria expects to generate at least $5 billion in smoke-free revenue, equivalent to nearly a quarter of its projected sales. From 2025 to 2028, analysts expect its EPS to grow at a 13% CAGR even as its revenue barely grows. Over the past 12 months, Altria spent 78% of its free cash flow on its dividends -- so it has plenty of room for future hikes. It's also a cheap stock in this frothy market: at $75 per share, it trades at just 13 times forward earnings.
Leo Sun has positions in Altria Group. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Goldman Sachs ve třetím čtvrtletí meziročně zvýšila tržby o 23 % na 18,68 miliardy USD a vykázala zisk na akcii (EPS) ve výši 17,01 USD, což překonalo odhad analytiků ve výši 12,86 USD.
IFP Advisors Inc lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 14.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,843 shares of the investment management company’s stock after selling 1,329 shares during the quarter. IFP Advisors Inc’s holdings in The Goldman Sachs Group were worth $7,062,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $24,172,123,000. Bank of America Corp DE acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $6,756,772,000. Orange County Employees Retirement System purchased a new stake in The Goldman Sachs Group in the 2nd quarter valued at $69,537,544,000. Bank of New York Mellon Corp purchased a new stake in The Goldman Sachs Group in the 2nd quarter valued at $2,560,028,000. Finally, International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at $2,024,921,000. Institutional investors and hedge funds own 71.21% of the company’s stock.
The Goldman Sachs Group Stock Performance NYSE GS opened at $880.48 on Monday. The stock has a market capitalization of $256.37 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.85 and a beta of 1.29. The business’s 50 day moving average is $974.71 and its two-hundred day moving average is $990.62. The Goldman Sachs Group, Inc. has a 12-month low of $740.01 and a 12-month high of $1,153.99. The company has a current ratio of 1.10, a quick ratio of 0.63 and a debt-to-equity ratio of 2.82.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.86 by $4.15. The business had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the business posted $12.25 EPS. Research analysts expect that The Goldman Sachs Group, Inc. will post 69.57 EPS for the current year. The Goldman Sachs Group Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be issued a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 28.76%.
Key The Goldman Sachs Group News Here are the key news stories impacting The Goldman Sachs Group this week:
Positive Sentiment: Goldman Sachs reported third-quarter net revenue of approximately $18.7 billion, its second-highest quarterly total, while earnings increased 39% year over year. Strong equities trading and investment-banking fees supported the results, and financing activities accounted for more than 40% of trading revenue year to date. Zacks Analyst Blog Highlights Goldman Sachs Positive Sentiment: TD Cowen initiated coverage of Goldman Sachs with a Buy rating, adding a new bullish view after the company’s strong earnings report. TD Cowen Initiates Coverage Positive Sentiment: JPMorgan raised its Goldman Sachs price target from $955 to $970, implying meaningful potential upside from recent levels, although it retained a Neutral rating. JPMorgan Price Target Update Neutral Sentiment: Goldman CEO David Solomon said the underlying economy remains solid and capital-markets activity is strong, but abrupt interest-rate movements are creating headwinds. That suggests favorable deal activity may be offset by macroeconomic volatility. Goldman CEO David Solomon Interest Rate Warning Negative Sentiment: Analyst actions from RBC and Citigroup lowered expectations for Goldman Sachs, reinforcing concerns that the stock’s strong earnings are already reflected in its valuation. RBC Goldman Sachs Price Target Cut Citigroup Goldman Sachs Expectations Negative Sentiment: Goldman Sachs and other banks delivered earnings beats but saw their shares weaken as investors focused on mixed guidance, interest-rate uncertainty and a broader “sell-the-news” reaction. Why Bank Shares Are Falling Negative Sentiment: Goldman Sachs data showed hedge funds suffering losses as investors unwound AI-related trades amid inflation concerns and expectations for higher rates, adding to the risk-off environment affecting financial stocks. AI Trade Unwind Hurts Hedge Funds Analyst Ratings Changes Several brokerages have issued reports on GS. Oppenheimer downgraded shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research report on Tuesday, June 30th. BMO Capital Markets decreased their price objective on The Goldman Sachs Group from $972.00 to $970.00 and set a “market perform” rating for the company in a research report on Tuesday, October 6th. Royal Bank Of Canada lowered their target price on The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 14th. Keefe, Bruyette & Woods lowered their price objective on shares of The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, Rothschild & Co Redburn boosted their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $1,051.23.
Check Out Our Latest Report on The Goldman Sachs Group
The Goldman Sachs Group Company Profile (Free Report)
The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.
Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.
See Also Five stocks we like better than The Goldman Sachs Group These 3 Green Stocks Have a Growth Story That Goes Far Beyond Washington Meta Claims Frontier-Class AI Status With New Muse Wonder Models Berkshire Just Backed This Little-Known Stock—Should You Chase It? Broadcom’s CEO Sees Years of AI Demand But Warns of a Bigger Threat to the Boom Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS – Free Report).
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Qualcomm Incorporated (NASDAQ:QCOM – Get Free Report) EVP Ann Chaplin sold 1,827 shares of the stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $174.75, for a total transaction of $319,268.25. Following the sale, the executive vice president owned 25,770 shares in the company, valued at approximately $4,503,307.50. This trade represents a 6.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Qualcomm Stock Performance Shares of NASDAQ QCOM opened at $172.11 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $175.02 and its two-hundred day moving average price is $179.70. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The stock has a market capitalization of $183.79 billion, a P/E ratio of 19.92, a P/E/G ratio of 3.88 and a beta of 1.65.
Qualcomm (NASDAQ:QCOM – Get Free Report) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.69 billion. Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.77 earnings per share. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, sell-side analysts forecast that Qualcomm Incorporated will post 7.74 earnings per share for the current year.
Analyst Upgrades and Downgrades A number of research analysts recently commented on the company. DZ Bank upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $265.00 price objective for the company in a research note on Friday, June 26th. Mizuho raised their target price on Qualcomm from $170.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, June 29th. Barclays reiterated an “underweight” rating on shares of Qualcomm in a research note on Wednesday, September 9th. Dbs Bank raised shares of Qualcomm to a “moderate buy” rating in a report on Tuesday, July 7th. Finally, Bank of America upped their price target on shares of Qualcomm from $165.00 to $195.00 and gave the stock an “underperform” rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Qualcomm presently has a consensus rating of “Hold” and a consensus target price of $204.10. View Our Latest Stock Analysis on QCOM
Key Qualcomm News Here are the key news stories impacting Qualcomm this week:
Positive Sentiment: Qualcomm appears to have prevailed in its licensing dispute with Arm. A Delaware jury found that Arm breached its license agreement with Qualcomm, supporting Qualcomm’s position in a dispute that could have affected the company’s ability to use Arm-based designs. The verdict is a potential legal and strategic win, although further proceedings may still be required. Jury finds Arm breached license agreement with Qualcomm Positive Sentiment: A renewed Apple licensing agreement improves revenue visibility. Qualcomm’s continued licensing relationship with Apple helps support its high-margin patent-licensing business, even as Apple works to develop more of its own modem technology. Qualcomm renews Apple license Positive Sentiment: Qualcomm expanded its 5G licensing coverage with Transsion through 2031. The extended agreement provides longer-term royalty visibility in emerging smartphone markets. Qualcomm, Transsion Extend 5G Patent License Deal Positive Sentiment: The company launched an AI-native Wi-Fi 8 gateway. The product combines next-generation connectivity with edge AI computing, supporting Qualcomm’s strategy to diversify beyond smartphones into home broadband and AI-enabled devices. Qualcomm unveils AI-native Wi-Fi 8 gateway Neutral Sentiment: Analysts continue to view Qualcomm as a cash-generative wireless technology company with growth opportunities in automotive, AI and other markets, but investors remain focused on the pace of its transition away from handset dependence. Qualcomm: Navigating the shift from handsets to AI Negative Sentiment: Sector-wide chip selling is pressuring QCOM. Qualcomm’s legal win has not prevented broader weakness across semiconductor stocks, with investors reducing exposure to chipmakers. Chip selloff following Qualcomm verdict Negative Sentiment: Reports that Samsung could replace Qualcomm’s chip in the Galaxy S27 Ultra if thermal issues persist raise concerns about flagship handset share and Qualcomm’s near-term mobile revenue. Samsung may swap Galaxy S27 Ultra chip Negative Sentiment: MediaTek’s reported progress toward an AI data-center chip pact with ByteDance highlights increasing competition in Qualcomm’s effort to build an AI and data-center business. ByteDance and MediaTek AI chip pact Hedge Funds Weigh In On Qualcomm Hedge funds and other institutional investors have recently made changes to their positions in the business. Your Advocates Ltd. LLP bought a new position in Qualcomm in the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Qualcomm by 17,000.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock worth $29,000 after buying an additional 170 shares during the last quarter. ABS Investment Management LLC bought a new stake in shares of Qualcomm in the second quarter valued at approximately $34,000. ABS Direct Equity Fund LLC bought a new stake in shares of Qualcomm in the second quarter valued at approximately $34,000. Finally, Burk Holdings LLC grew its stake in shares of Qualcomm by 191.7% in the second quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock worth $39,000 after acquiring an additional 138 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.
Qualcomm Company Profile (Get Free Report)
Qualcomm Incorporated is a technology company that develops and commercializes wireless communications and semiconductor technologies. Through Qualcomm Technologies, Inc, the company designs integrated circuits, system software and related platforms used in smartphones, personal computers, automobiles, industrial equipment, consumer devices and other connected products. Its Snapdragon platforms support mobile computing, connectivity, artificial intelligence and multimedia applications, while its broader portfolio includes radio-frequency systems, networking and edge-computing technologies.
Qualcomm also operates a significant technology-licensing business through its Qualcomm Technology Licensing segment.
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Preferenční akcie Series A společnosti Innovative Industrial Properties nabízejí výnos kolem 9,3 % a kumulativní dividendu; tento REIT vlastní 108 nemovitostí v 19 státech.
Many income investors wouldn't go near a pot stock with a 10-foot pole -- and for good reason. For one thing, most cannabis stocks don't pay dividends. The ones that do operate in a highly volatile industry.
However, it's important to remember the adage "don't throw the baby out with the bath water." Sure, most cannabis stocks aren't good picks if you're seeking reliable income. There's one, though, that I think is hands-down the best cannabis stock for dividend investors. If you want cannabis exposure without cannabis-company risk, along with an exceptionally juicy yield, check out Innovative Industrial Properties 9.00% Series A Cumulative Redeemable Preferred Stock (NYSE: IIPR-PA).
The preferred pickLet's get one thing straight right out of the gate: Innovative Industrial Properties (IIPR -1.52%) is emphatically not a pure-play cannabis company. However, it is a key player in the cannabis industry.
The company is the top real estate investment trust (REIT) that specializes in owning and leasing facilities to licensed U.S. cannabis operators. It collects rents from cannabis operators under long-term triple-net leases, in which the tenants pay property taxes, insurance, and standard maintenance expenses. Innovative Industrial Properties currently owns 108 properties in 19 states.
Buying Innovative Industrial Properties' common stock gives you a staggering forward dividend yield of 14.5%. Is that lofty yield sustainable? Probably not. The REIT's dividend payout ratio is roughly 172%, meaning it's paying out far more in dividends than it's earning. Even worse, Innovative Industrial Properties doesn't generate enough free cash flow to cover its dividends.
But the Innovative Industrial Properties' Series A preferred stock is a different animal altogether. Its yield hovers around 9.3%, close to the 9% in its name. And those standard payout ratios don't matter for this preferred stock.
The investment case and the honest risksBuying a preferred stock is similar to buying a bond in some respects. Both pay a predetermined, fixed rate (9% for the Innovative Industrial Properties 9.00% Series A Cumulative Redeemable Preferred Stock). Unlike common dividends, these fixed returns reflect a contractual obligation.
The word "cumulative" in this preferred stock's name is important. It means that if Innovative Industrial Properties ever missed a preferred dividend payment, the missed amount would accrue. The REIT would have to pay the full amount of preferred dividends owed before it could resume paying common dividends.
This makes Innovative Industrial Properties' preferred dividends inherently safer than its common dividends. The company's balance sheet should make income investors feel even better. Innovative has manageable debt levels.
That said, there are some risks associated with investing in this preferred stock. Innovative Industrial Properties could still experience financial problems and be unable to pay its preferred dividends. The REIT depends on its tenants paying their rents. Several large cannabis operators have previously missed payments to Innovative.
Tenant concentration is a valid concern, too. Innovative Industrial Properties has 37 tenants, but only five of them pay half of its total rental revenue.
Who this preferred stock could be right forIf you're a conservative, highly risk-averse investor, buying Innovative Industrial Properties 9.00% Series A Cumulative Redeemable Preferred Stock probably won't be up your alley. The risks associated with the cannabis industry will likely eliminate this stock from consideration.
On the other hand, I think this preferred stock could be a good fit for aggressive income investors. Most states have legalized medical cannabis, with a growing number allowing legal recreational cannabis as well. Cannabis regulations at the federal level are loosening. In some ways, the cannabis industry is in its best regulatory position ever.
Innovative Industrial Properties remains the leading provider of real estate capital to the industry. Its tenants include some of the biggest cannabis operators. The REIT seems likely to continue meeting its obligations to pay preferred dividends.
In an industry that's historically been a danger zone for income investors, Innovative Industrial Properties' preferred stock is a rare opportunity. It offers a high yield and places preferred shareholders second only to bondholders in the order of payment. It's the hands-down best cannabis stock for dividend investors.
Costco ve čtvrtletí vykázalo tržby ve výši 95,72 miliardy USD, což představuje meziroční nárůst o 11,1 %, a EPS ve výši 6,75 USD, čímž překonalo odhad EPS ve výši 6,54 USD.
IFP Advisors Inc raised its stake in Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 43.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,484 shares of the retailer’s stock after purchasing an additional 12,856 shares during the period. Costco Wholesale comprises 0.6% of IFP Advisors Inc’s investment portfolio, making the stock its 19th biggest position. IFP Advisors Inc’s holdings in Costco Wholesale were worth $38,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of America Corp DE purchased a new stake in shares of Costco Wholesale during the second quarter worth approximately $6,781,946,000. Diamant Asset Management Inc. raised its holdings in Costco Wholesale by 99,278.0% in the first quarter. Diamant Asset Management Inc. now owns 6,726,899 shares of the retailer’s stock valued at $672,690,000 after acquiring an additional 6,720,130 shares in the last quarter. State Street Corp raised its holdings in Costco Wholesale by 31.7% in the second quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock valued at $22,359,224,000 after acquiring an additional 5,749,362 shares in the last quarter. Legal & General Group Plc purchased a new position in Costco Wholesale in the second quarter worth approximately $2,362,188,000. Finally, Ascentis Wealth Management LLC lifted its stake in Costco Wholesale by 103,637.0% in the second quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer’s stock worth $2,549,616,000 after acquiring an additional 2,497,652 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.
More Costco Wholesale News Here are the key news stories impacting Costco Wholesale this week:
Positive Sentiment: September sales accelerated: Costco reported September net sales of $30.02 billion, up 13% year over year, while digitally enabled sales increased 19%. The results reinforce the strength of Costco’s membership model, e-commerce business and value-focused offering. September Sales Growth Positive Sentiment: Analyst support remains strong: Tigress Financial reiterated a Buy rating while setting a $1,065 price target after previously publicizing a higher $1,250 target. Other coverage highlights Costco’s sales growth, membership loyalty and digital gains, supporting the recent recovery above key moving averages. Tigress Financial Price Target Positive Sentiment: Dividend maintained: Costco declared a quarterly dividend of $1.47 per share, payable November 13 to shareholders of record October 30. While the approximately 0.6% yield is modest, the payment signals continued cash-flow strength. Costco Dividend Announcement Positive Sentiment: Expansion pipeline: Proposed warehouse projects in Macon and Oakland, along with a planned Merced County relocation, point to continued investment in Costco’s store network. Infrastructure financing of up to $30 million could support the Macon development. Macon Costco Project Neutral Sentiment: Costco’s fiscal 2027 executive bonus plan adds sustainability-related measures. The change may support long-term operational goals, but it is unlikely to materially affect near-term earnings. Costco Executive Bonus Update Negative Sentiment: Valuation and macro risks remain: Costco trades at a high earnings multiple, leaving the stock vulnerable if growth or membership trends slow. Persistent inflation and potentially higher interest rates could also pressure consumer spending and market valuations. Negative Sentiment: An executive sold 1,100 shares worth approximately $1.05 million. The transaction is relatively small compared with Costco’s market value, but it may add a modest cautionary signal for investors. Costco Insider Sale Costco Wholesale Price Performance COST stock opened at $989.11 on Monday. The business has a 50 day moving average price of $933.15 and a 200 day moving average price of $963.04. The stock has a market cap of $438.30 billion, a price-to-earnings ratio of 47.64, a PEG ratio of 4.23 and a beta of 0.88. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. Costco Wholesale (NASDAQ:COST – Get Free Report) last announced its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, beating the consensus estimate of $6.54 by $0.21. The company had revenue of $95.72 billion for the quarter, compared to analyst estimates of $94.97 billion. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $5.87 earnings per share. Equities research analysts anticipate that Costco Wholesale Corporation will post 22.70 earnings per share for the current fiscal year.
Costco Wholesale Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, October 30th. Costco Wholesale’s payout ratio is currently 28.32%.
Insider Buying and Selling at Costco Wholesale In other news, EVP Claudine Adamo sold 2,200 shares of the company’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total value of $2,015,046.00. Following the completion of the transaction, the executive vice president owned 7,134 shares in the company, valued at approximately $6,534,244.62. This represents a 23.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William Richard Wilcox sold 1,100 shares of the stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the completion of the transaction, the executive vice president directly owned 3,094 shares in the company, valued at $2,964,701.74. This trade represents a 26.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.
Analyst Upgrades and Downgrades COST has been the subject of several analyst reports. Roth Capital reiterated a “sell” rating and set a $781.00 price target on shares of Costco Wholesale in a report on Friday, September 25th. UBS Group reissued a “buy” rating on shares of Costco Wholesale in a research report on Thursday, September 17th. Argus restated a “buy” rating and issued a $1,230.00 price objective on shares of Costco Wholesale in a report on Monday, September 28th. Evercore reaffirmed an “outperform” rating on shares of Costco Wholesale in a research report on Tuesday, September 22nd. Finally, Raymond James Financial decreased their price objective on shares of Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating for the company in a research report on Friday, September 25th. Twenty-four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,087.40.
View Our Latest Stock Report on Costco Wholesale
(Free Report)
Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.
Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.
The company traces its roots to Price Club, which opened in San Diego in 1976.
Featured Articles Five stocks we like better than Costco Wholesale These 3 Green Stocks Have a Growth Story That Goes Far Beyond Washington Meta Claims Frontier-Class AI Status With New Muse Wonder Models Berkshire Just Backed This Little-Known Stock—Should You Chase It? Broadcom’s CEO Sees Years of AI Demand But Warns of a Bigger Threat to the Boom Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST – Free Report).
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Gilead Sciences, Inc. (NASDAQ:GILD – Get Free Report) CFO Andrew Dickinson sold 3,000 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $156.22, for a total transaction of $468,660.00. Following the transaction, the chief financial officer owned 161,096 shares of the company’s stock, valued at $25,166,417.12. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Gilead Sciences Price Performance NASDAQ:GILD opened at $156.19 on Monday. Gilead Sciences, Inc. has a one year low of $114.02 and a one year high of $160.51. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27. The firm has a market cap of $193.67 billion, a price-to-earnings ratio of -58.50 and a beta of 0.31. The firm’s fifty day moving average is $147.19 and its two-hundred day moving average is $137.29.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, topping the consensus estimate of ($7.25) by $0.50. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $2.01 EPS. Research analysts expect that Gilead Sciences, Inc. will post -0.47 EPS for the current year.
Gilead Sciences Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were paid a $0.82 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.1%. Gilead Sciences’s dividend payout ratio is presently -122.85%. Institutional Investors Weigh In On Gilead Sciences Several hedge funds have recently modified their holdings of the company. Onyx Bridge Wealth Group LLC increased its position in shares of Gilead Sciences by 2.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 5,039 shares of the biopharmaceutical company’s stock valued at $751,000 after buying an additional 108 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Gilead Sciences by 33.4% during the 3rd quarter. IFP Advisors Inc now owns 11,135 shares of the biopharmaceutical company’s stock worth $1,660,000 after buying an additional 2,788 shares during the period. Founders Grove Wealth Partners LLC lifted its position in shares of Gilead Sciences by 3.9% during the 3rd quarter. Founders Grove Wealth Partners LLC now owns 2,437 shares of the biopharmaceutical company’s stock valued at $363,000 after buying an additional 91 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Gilead Sciences by 1.2% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 35,698 shares of the biopharmaceutical company’s stock valued at $5,321,000 after buying an additional 412 shares in the last quarter. Finally, Encompass More Asset Management lifted its position in shares of Gilead Sciences by 4.2% during the 3rd quarter. Encompass More Asset Management now owns 3,057 shares of the biopharmaceutical company’s stock valued at $456,000 after buying an additional 122 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes Several analysts recently commented on GILD shares. Weiss Ratings raised Gilead Sciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 14th. HSBC boosted their price target on Gilead Sciences from $155.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Bank of America restated a “buy” rating and issued a $164.00 price objective on shares of Gilead Sciences in a research report on Monday, October 12th. Barclays lowered their price objective on Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price objective on shares of Gilead Sciences in a research note on Thursday, October 8th. Twenty-three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $159.33.
View Our Latest Stock Analysis on GILD
Key Stories Impacting Gilead Sciences Here are the key news stories impacting Gilead Sciences this week:
Positive Sentiment: Vir oncology collaboration expands Gilead’s pipeline. Gilead and Vir Biotechnology agreed to develop three novel cancer therapies, including next-generation T-cell engagers. The deal could provide Vir with up to approximately $1.74 billion in additional milestone payments, giving Gilead access to potential long-term oncology growth while diversifying its pipeline. Gilead and Vir forge $1.9bn pact to develop next-gen T-cell engagers Positive Sentiment: Investors are rotating toward defensive healthcare stocks. As investors reduce exposure to technology and chip stocks, major pharmaceutical companies—including Gilead—have traded near record highs. This rotation may be supporting demand for GILD because of the sector’s defensive characteristics and potential earnings support. Big pharma stocks near all-time highs as tech selloff pushes investors toward safer bets Neutral Sentiment: Recent momentum has increased investor attention. GILD gained 2.57% in the prior session and closed at $157.48, while shares remain close to their 52-week high. Market commentary notes heightened investor interest, although analysts have expressed mixed views on the company’s prospects. Gilead Sciences rises higher than market: Key facts Negative Sentiment: Two senior executives reported planned stock sales. CFO Andrew Dickinson and insider Johanna Mercier each sold 3,000 shares at an average price of $156.22. Both transactions were executed under pre-arranged Rule 10b5-1 plans, limiting their significance as a bearish signal; each executive continues to hold a substantial position. Gilead CFO Form 4 filing (Get Free Report)
Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company is best known for its HIV treatments, including Biktarvy, Descovy, Genvoya and Truvada, as well as therapies for chronic hepatitis B and hepatitis C. Its portfolio also includes Veklury (remdesivir), an antiviral treatment for COVID-19.
Gilead has expanded into oncology and cell therapy through products such as Trodelvy and the CAR T-cell therapies Yescarta and Tecartus, which are developed and marketed through its Kite subsidiary.
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Workers at Micron Technology (MU -5.63%) in Taiwan have come a step closer to a strike. On Oct. 7, the union at the memory maker's Taoyuan site said 1,994 members voted to authorize a strike over how Micron splits its profits. This was 99% of the ballots cast. Just 14 voted against.
No strike date has been set. The union asked members to take Monday, Oct. 19, off for a rally in Taipei, which it said wouldn't be a strike. But the union's chair has said a surprise walkout, announced to members by text on short notice, is on the table.
When I covered the dispute in early September, I thought a deal was the likelier ending. As of this writing, the growth stock trades near $879, off about 28% from its record close of $1,213.56 in late June.
Image source: Micron.
A tougher lineIn an August poll, over 80% of participating union members backed strike action. Then mediation between Micron and the Taoyuan union ended without a deal in September.
In prepared remarks for its Sept. 30 earnings call, CEO Sanjay Mehrotra said the firm had raised fiscal 2026 incentive pay for all employees worldwide.
But that didn't settle the dispute. The union wants a permanent system that gives 15% of Micron's operating profit to workers.
Pressure on the tech firm is coming from outside, too. Taiwan's labor ministry urged Micron to offer "concrete, feasible proposals."
And on Oct. 15, President Lai Ching-te called on both sides to negotiate sincerely at the opening of Micron's new Taichung plant, which packages and tests high-bandwidth memory (HBM) for AI systems.
How much output is at risk?Taiwan arguably matters more to Micron than any other country. A majority of the company's DRAM output in fiscal 2026 came from its fabs there, according to its annual report.
And DRAM is most of the business. Showing how fast it's grown, Micron's DRAM revenue hit a record $39.8 billion in the fiscal fourth quarter, up 27% from the previous quarter and 343% year over year. That was 73% of total revenue. Taiwan also had $27.6 billion of Micron's long-lived assets (mostly plants and equipment) at the end of fiscal 2026, versus $19 billion a year before -- around 43% of the company's total.
But the strike vote so far covers the smaller of Micron's two big Taiwan sites. Taoyuan's union has 2,258 registered members, and the fab there mainly makes DRAM.
Taichung is Micron's largest base in Taiwan, and its union, which represents around 10,000 workers there and in Tainan, hasn't voted. It holds a second mediation session with the company on Oct. 22, and a failed one might lead to a strike vote there, too.
Micron has already sold much of its supplyDelays might cost Micron more than usual, because much of what its fabs make is already spoken for. On its Sept. 30 earnings call, management said over 75% of Micron's fiscal 2027 shipments were already committed.
"We have already sold out all the capacity for 2027 that this factory will build," Micron President and Chief Operating Officer Manish Bhatia said at the Taichung opening.
MU Micron Technology$878.84-$52.40 (-5.63%)
NASDAQ · As of 4:00 PM ET 10/16/26
A long strike, then, might leave Micron short on deliveries it's already promised. Micron's latest annual report warns that labor disruptions "could also impair our ability to meet delivery schedules under strategic customer agreements, which could result in contractual liability, loss of customer confidence, or diversion of customer demand to competing suppliers."
Of course, I think the more likely cost is a richer pay plan. Notably, Micron's annual report now names new profit-sharing or bonus programs among the ways a labor dispute might get settled.
Under the union's 15% formula, Micron's fiscal 2026 operating income of $99.3 billion (up from $9.8 billion in fiscal 2025) would have meant around $14.9 billion for employees. The payout would be around a third of the $43.8 billion in operating income Micron made in the fiscal fourth quarter alone. And at around 12 times fiscal 2026 earnings, investors aren't paying as if this level of profit will last anyway.
Could a strike hurt the stock? A long one at Taichung could. But I still think a deal is the more likely outcome, and I don't see the vote as a reason to sell. If Taichung's union goes to a strike vote after its Oct. 22 meeting, though, I'd take the risk of lost output much more seriously.
Eli Lilly: Ve studii fáze 3 dosáhlo klinické remise po 52 týdnech 50 % dětských pacientů s ulcerózní kolitidou, kteří reagovali na léčbu přípravkem Omvoh. Společnost Lilly plánuje požádat regulační orgány o rozšíření indikace.
Building on Omvoh's approved use and durable efficacy in adults, Lilly plans to submit these data to global regulators to support a potential label expansion for pediatric ulcerative colitis
More than 80% of patients responded to Omvoh induction, and half of responders, ages 6 to 17, were in clinical remission at one year in Phase 3 SHINE-2 study
In key secondary outcomes, 71.2% of patients who responded to Omvoh induction achieved symptomatic remission and 50% achieved corticosteroid-free clinical remission at one year without surgery
, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced positive late-breaking one-year results from the Phase 3 SHINE-2 study of Omvoh (mirikizumab-mrkz) in pediatric patients ages 6 to 17 with moderately to severely active ulcerative colitis (UC), including clinical, symptomatic and endoscopic outcomes. In the single-arm, open-label study, 81% of patients achieved clinical response to Omvoh induction at Week 12. Among responders, 50% achieved clinical remission at Week 52, meeting the study's primary endpoint.* Omvoh is the first IL-23p19 inhibitor to report one-year Phase 3 results in pediatric UC. These results were presented as a late-breaking oral presentation at United European Gastroenterology (UEG) Week 2026.1
Omvoh is currently approved for adults with moderately to severely active UC. The safety and effectiveness of Omvoh in pediatric patients are currently being evaluated in clinical studies. Lilly plans to submit these data to global regulators to support a potential label expansion. If approved, Omvoh would be the first IL-23p19 inhibitor indicated for pediatric UC.
"For children and adolescents, the persistent bowel urgency, abdominal pain and unpredictability of ulcerative colitis can make a normal childhood feel out of reach, especially when symptoms return after previous treatments," said Mark Genovese, M.D., senior vice president of Lilly Immunology development. "Already approved for adults with ulcerative colitis, Omvoh is the first IL-23p19 inhibitor to report one-year Phase 3 results in pediatric ulcerative colitis. We look forward to working with regulators to potentially make Omvoh available to children and adolescents living with this disease, who continue to face substantial disease burden and ongoing unmet needs."
Unmet need in pediatric ulcerative colitis
UC affects more than 26,000 children and adolescents in the U.S.3 Although relatively uncommon, pediatric-onset UC is often more extensive and severe than disease that begins in adulthood.4 Up to half of children treated with corticosteroids become dependent on them, and up to one-third require surgery within a year.4
SHINE-2 evaluated Omvoh in a pediatric population with high disease burden and significant unmet need, including 54% of enrolled patients who had previously experienced biologic treatment failure. Half entered the study with severe disease activity as measured by the Pediatric Ulcerative Colitis Activity Index.1
"For children with ulcerative colitis, every year spent relying on corticosteroids or facing the possibility of surgery can have important implications for growth, development and quality of life," said Marla C. Dubinsky, M.D., Professor of Pediatrics and Medicine at the Icahn School of Medicine at Mount Sinai, Chief of Pediatric Gastroenterology and Nutrition at Mount Sinai Kravis Children's Hospital. "Considering these challenges, the finding that half of the pediatric patients who responded to Omvoh achieved corticosteroid-free clinical remission without surgery at one year is particularly meaningful, especially in a population where many patients had previously experienced treatment failure with advanced therapies."
One-year results from SHINE-2 in children and adolescents with ulcerative colitis
Of the patients enrolled in SHINE-2, 81% achieved clinical response at Week 12. Among responders, ages 6 to 17, efficacy was sustained across multiple clinical, symptomatic and endoscopic outcomes at Week 52, including:
50% clinical remission (primary endpoint)* 50% corticosteroid-free clinical remission without surgery† 73.1% clinical response‡ 71.2% symptomatic remission¶ 53.8% endoscopic improvement# 44.2% endoscopic remission** The pediatric Week 52 clinical remission rate was similar to that observed among adult Week 12 responders treated with Omvoh in LUCENT-2 (50.7%).1 This descriptive observation was separate from the primary endpoint analysis and should not be interpreted as a direct comparison between studies.
These one-year findings build on the early clinical, symptomatic and endoscopic improvements observed at Week 12, which were presented as a late-breaking oral presentation at the American College of Gastroenterology 2026 Annual Scientific Meeting.5
Safety findings from SHINE-2
Through Week 52 in SHINE-2, the safety profile of Omvoh in children and adolescents was consistent with its established safety profile in adults, with no new safety signals identified. The most common treatment-emergent adverse events in SHINE-2 were upper respiratory tract infection, injection site reaction, UC, headache, nasopharyngitis and anemia. Most treatment-emergent adverse events were mild to moderate in severity. Through Week 52, four patients (6.3%) experienced a serious adverse event; none was considered related to study treatment. Two patients (3.2%) discontinued treatment because of UC flare. No deaths, malignancies, opportunistic infections or growth-related safety concerns were reported through Week 52.1
Omvoh has received regulatory approvals for the treatment of moderately to severely active UC and moderately to severely active Crohn's disease in adults and has been approved in 47 countries around the world. In UC, Omvoh is also approved as a single-injection maintenance regimen in several countries around the world including the U.S., EU, Canada and Japan.
Lilly continues to study mirikizumab in pediatric inflammatory bowel disease, including a long-term extension study in UC and Crohn's disease (NCT04844606) and an ongoing Phase 3 study in pediatric Crohn's disease (NCT05509777). Lilly is also evaluating mirikizumab through combination approaches and novel mechanisms aimed at delivering breakthrough induction efficacy while maintaining long-term remission and safety. These include studies in UC with eltrekibart (NCT06598943), a monoclonal antibody that targets neutrophil-driven inflammation, and with zotemtegrast (NCT07186101), an oral α4β7 integrin inhibitor. In Crohn's disease, Lilly is studying mirikizumab in combination with an FXR agonist (NCT07483099). The COMMIT-UC (NCT06937086) and COMMIT-CD (NCT06937099) trials are investigating the concomitant use of mirikizumab and an incretin-based therapy in adults with UC or Crohn's disease and obesity or overweight with at least one additional weight-related comorbid condition.
Disclosure: Dr. Dubinsky is a paid consultant for Lilly. She has not been compensated for any media work.
About SHINE-2
SHINE-2 is a Phase 3, multicenter, single-arm, open-label study evaluating mirikizumab in pediatric patients with moderately to severely active UC. A total of 63 participants, ages 4 to 17, were enrolled and received weight-based intravenous induction every four weeks for three doses (300 mg for patients >40 kg; 5 mg/kg for patients ≤40 kg). At Week 12, 52 patients entered the maintenance period as clinical responders and received weight-based subcutaneous mirikizumab every four weeks through Week 52. The primary endpoint was evaluated against a pre-specified benchmark derived from the adult placebo remission rate in the Phase 3 LUCENT-2 study.* The Week 52 efficacy results are reported for the Week 12 responder population (N=52; ages 6 to 17); safety results are based on all enrolled patients (N=63).
Patients completing SHINE-2 may be eligible to continue in SHINE-ON, an ongoing long-term extension study evaluating mirikizumab in pediatric patients with UC or Crohn's disease.
About Omvoh
Omvoh (mirikizumab-mrkz) is an interleukin-23p19 (IL-23p19) antagonist indicated for the treatment of moderately to severely active ulcerative colitis and Crohn's disease in adults. Omvoh selectively targets the p19 subunit of IL-23 and inhibits the IL-23 pathway. Inflammation due to over-activation of the IL-23 pathway plays a critical role in the pathogenesis of inflammatory bowel disease.2 The safety and effectiveness of Omvoh have not been established in pediatric patients.
Omvoh and its delivery device base are trademarks owned by Eli Lilly and Company.
Endnotes and References
*Clinical remission was defined as stool frequency (SF) subscore=0 or 1, rectal bleeding (RB) subscore=0 and endoscopic subscore (ES)=0 or 1 (excluding friability). The primary endpoint was met by exceeding a pre-specified benchmark based on the placebo remission rate in adults from the Phase 3 LUCENT-2 study. The lower bound of the 80% credible interval for the Week 52 pediatric remission rate among Week 12 responders (42.8%) exceeded the upper bound of the 90% credible interval for the adult placebo remission rate in LUCENT-2 (32.6%). Week 52 efficacy was assessed among the 52 patients who entered the maintenance period as Week 12 clinical responders, based on response status recorded by study sites.
†Corticosteroid-free clinical remission without surgery: clinical remission at Week 52 without surgery, and no corticosteroid use for at least 12 weeks prior to Week 52.
‡Clinical response: a decrease in the MMS of ≥2 points and ≥30% decrease from induction baseline plus a decrease of ≥1 point in the RB subscore from induction baseline or an RB subscore of 0 or 1.
¶Symptomatic remission: SF=0, or SF=1 with ≥1-point decrease from baseline and RB=0.
#Endoscopic improvement: ES=0 or 1, excluding friability.
**Endoscopic remission: ES=0.
1Turner D, et al. Mirikizumab, the first IL-23p19 inhibitor to demonstrate sustained efficacy through 1 year in pediatric moderately-to-severely active ulcerative colitis: efficacy and safety findings from SHINE-2. United European Gastroenterology Week 2026; October 19, 2026; Barcelona, Spain.
2Omvoh. Prescribing Information. Lilly USA, LLC.
3Kappelman MD, Brensinger C, Parlett LE, Hurtado-Lorenzo A, Lewis JD. Prevalence of pediatric inflammatory bowel disease in the United States: pooled estimates from three administrative claims data sources. Gastroenterology. 2025;168(5):980-982.e2. doi:10.1053/j.gastro.2024.11.004
4Wine E, Aloi M, Van Biervliet S, et al. Management of paediatric ulcerative colitis, part 1: Ambulatory care— an updated evidence-based consensus guideline from the European Society of Paediatric Gastroenterology, Hepatology and Nutrition and the European Crohn's and Colitis Organisation. J Pediatr Gastroenterol Nutr. 2025;81(3):765-815. doi:0.1002/jpn3.70097
5Dubinsky M, et al. Mirikizumab induction therapy achieves early clinical, endoscopic, and biomarker improvement in children and adolescents with moderately to severely active ulcerative colitis: Week 12 results from the SHINE-2 study. American College of Gastroenterology 2026 Annual Scientific Meeting; October 14, 2026; Nashville, TN.
Indications and Usage for Omvoh® (mirikizumab-mrkz) (in the United States)
Omvoh is an interleukin-23 antagonist indicated for adults with:
Moderately to severely active ulcerative colitis Moderately to severely active Crohn's disease Important Safety Information for Omvoh (mirikizumab-mrkz)
CONTRAINDICATIONS
Omvoh is contraindicated in patients with a history of serious hypersensitivity reaction to mirikizumab-mrkz or any of the excipients.
WARNINGS AND PRECAUTIONS
Hypersensitivity Reactions
Serious hypersensitivity reactions, including anaphylaxis during intravenous infusion, have been reported with Omvoh administration. Infusion-related hypersensitivity reactions, including mucocutaneous erythema and pruritus, were reported during induction. If a severe hypersensitivity reaction occurs, discontinue Omvoh immediately and initiate appropriate treatment.
Infections
Omvoh may increase the risk of infection. Do not initiate treatment with Omvoh in patients with a clinically important active infection until the infection resolves or is adequately treated. In patients with a chronic infection or a history of recurrent infection, consider the risks and benefits prior to prescribing Omvoh. Instruct patients to seek medical advice if signs or symptoms of clinically important acute or chronic infection occur. If a serious infection develops or an infection is not responding to standard therapy, monitor the patient closely and do not administer Omvoh until the infection resolves.
Tuberculosis
Evaluate patients for tuberculosis (TB) infection prior to initiating treatment with Omvoh. Do not administer Omvoh to patients with active TB infection. Initiate treatment of latent TB prior to administering Omvoh. Consider anti-TB therapy prior to initiation of Omvoh in patients with a history of latent or active TB in whom an adequate course of treatment cannot be confirmed. Monitor patients for signs and symptoms of active TB during and after Omvoh treatment. In clinical trials, subjects were excluded if they had evidence of active TB, a history of active TB, or were diagnosed with latent TB at screening.
Hepatotoxicity
Drug-induced liver injury in conjunction with pruritus was reported in a clinical trial subject following a longer than recommended induction regimen. Omvoh was discontinued. Liver test abnormalities eventually returned to baseline. Evaluate liver enzymes and bilirubin at baseline and for at least 24 weeks of treatment. Monitor thereafter according to routine patient management. Consider other treatment options in patients with evidence of liver cirrhosis. Prompt investigation of the cause of liver enzyme elevation is recommended to identify potential cases of drug-induced liver injury. Interrupt treatment if drug-induced liver injury is suspected, until this diagnosis is excluded. Instruct patients to seek immediate medical attention if they experience symptoms suggestive of hepatic dysfunction.
Immunizations
Avoid use of live vaccines in patients treated with Omvoh. Medications that interact with the immune system may increase the risk of infection following administration of live vaccines. Prior to initiating therapy, complete all age-appropriate vaccinations according to current immunization guidelines. No data are available on the response to live or non-live vaccines in patients treated with Omvoh.
ADVERSE REACTIONS
Most common adverse reactions associated with Omvoh (≥2% of subjects and at a higher frequency than placebo) in ulcerative colitis treatment are upper respiratory tract infections and arthralgia during the induction study (UC-1), and upper respiratory tract infections, injection site reactions, arthralgia, rash, headache, and herpes viral infection during the maintenance study (UC-2). Most common adverse reactions associated with Omvoh in the Crohn's disease study (CD-1) (≥5% of subjects and at a higher frequency than placebo) are upper respiratory tract infections, injection site reactions, headache, arthralgia, and elevated liver tests.
Omvoh injection is available as a 300 mg/15 mL solution in a single-dose vial for intravenous infusion, and as a 100 mg/mL solution or a 200 mg/2 mL solution in a single dose prefilled pen or prefilled syringe for subcutaneous injection. Refer to the Prescribing Information for dosing information.
MR HCP ISI CD APP
Click to access provided Prescribing Information and Medication Guide. See Instructions for Use provided with the device.
About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY
Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are referenced in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Omvoh (mirikizumab-mrkz) as a treatment for people with moderately to severely active ulcerative colitis and moderately to severely active Crohn's disease and reflects Lilly's current beliefs and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development and commercialization. Among other things, there is no guarantee that future study results will be consistent with the results to date, or that Lilly will execute its strategies as planned. For further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly's expectations, see Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.
IFP Advisors Inc grew its stake in shares of Texas Instruments Incorporated (NASDAQ:TXN – Free Report) by 32.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,256 shares of the semiconductor company’s stock after purchasing an additional 5,263 shares during the quarter. IFP Advisors Inc’s holdings in Texas Instruments were worth $5,954,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in TXN. HBW Advisory Services LLC increased its position in shares of Texas Instruments by 2.2% in the 1st quarter. HBW Advisory Services LLC now owns 1,730 shares of the semiconductor company’s stock valued at $336,000 after purchasing an additional 37 shares during the last quarter. Montz Harcus Wealth Management LLC raised its holdings in shares of Texas Instruments by 2.9% in the 1st quarter. Montz Harcus Wealth Management LLC now owns 1,338 shares of the semiconductor company’s stock valued at $260,000 after purchasing an additional 38 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Texas Instruments by 0.6% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,960 shares of the semiconductor company’s stock worth $1,157,000 after purchasing an additional 38 shares during the last quarter. Moody National Bank Trust Division lifted its position in shares of Texas Instruments by 0.6% during the 3rd quarter. Moody National Bank Trust Division now owns 6,063 shares of the semiconductor company’s stock worth $1,698,000 after purchasing an additional 39 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. lifted its position in shares of Texas Instruments by 3.3% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 1,299 shares of the semiconductor company’s stock worth $364,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.
Wall Street Analysts Forecast Growth
TXN has been the subject of a number of analyst reports. Zacks Research downgraded shares of Texas Instruments from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Mizuho raised their price target on Texas Instruments from $300.00 to $305.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. UBS Group reaffirmed a “buy” rating and set a $380.00 price target (up from $350.00) on shares of Texas Instruments in a report on Thursday, July 23rd. Stifel Nicolaus upped their price objective on Texas Instruments from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, TD Cowen lowered their price objective on Texas Instruments from $360.00 to $340.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Sixteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $304.26.
View Our Latest Report on Texas Instruments
Insider Activity
In related news, VP Tsedeniya Abraham sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $264.63, for a total transaction of $1,852,410.00. Following the transaction, the vice president owned 23,181 shares in the company, valued at $6,134,388.03. This trade represents a 23.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.
Key Headlines Impacting Texas Instruments
Here are the key news stories impacting Texas Instruments this week:
Positive Sentiment: Texas Instruments’ history of exceeding earnings expectations, combined with favorable current earnings-estimate trends, has increased the possibility of another quarterly beat. Investors are also watching operating metrics beyond revenue and earnings per share for evidence of sustained demand. Will Texas Instruments Beat Estimates Again in Its Next Earnings Report?
Positive Sentiment: Analysts expect strength in Texas Instruments’ analog and embedded-processing businesses to support third-quarter results, reflecting demand from industrial, automotive and data-center markets. TXN to Report Q3 Earnings: Should You Buy, Hold or Sell the Stock?
Positive Sentiment: The board declared a fourth-quarter cash dividend of $1.52 per share, payable Nov. 10 to shareholders of record Oct. 30. The announcement reinforces TXN’s shareholder-return profile and may provide some support for income-focused investors. Texas Instruments Board Declares Fourth Quarter 2026 Quarterly Dividend
Positive Sentiment: Exchange-traded funds purchased approximately $113.2 million of TXN stock on Oct. 13, indicating institutional or index-related buying interest. ETFs Bought $113.2 Million of Texas Instruments
Neutral Sentiment: Wall Street’s third-quarter preview emphasizes key indicators such as segment performance, margins and demand trends. These metrics could be more important for TXN’s valuation than simply meeting consensus revenue and EPS estimates. Texas Instruments Q3 Earnings Key Metrics
Negative Sentiment: Geopolitical tensions remain a risk to semiconductor supply chains and international demand. In addition, TXN’s elevated valuation leaves less room for disappointment if its earnings outlook or margins fall short of expectations. TXN Q3 Earnings Investment Outlook
Texas Instruments Price Performance
Shares of TXN opened at $276.48 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.86 and a quick ratio of 3.44. Texas Instruments Incorporated has a 1-year low of $152.73 and a 1-year high of $334.03. The stock has a market cap of $252.50 billion, a PE ratio of 42.08, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. The firm has a fifty day moving average price of $271.75 and a 200 day moving average price of $277.05.
Texas Instruments (NASDAQ:TXN – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The semiconductor company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.23. Texas Instruments had a return on equity of 35.77% and a net margin of 31.11%. The company had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the company posted $1.41 earnings per share. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. Texas Instruments has set its Q3 2026 guidance at 2.230-2.570 EPS. As a group, sell-side analysts anticipate that Texas Instruments Incorporated will post 8.48 EPS for the current year.
Texas Instruments Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Friday, October 30th will be given a $1.52 dividend. This is a boost from Texas Instruments’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.2%. Texas Instruments’s payout ratio is currently 86.45%.
Texas Instruments Profile
(Free Report)
Texas Instruments Incorporated (NASDAQ:TXN) designs and manufactures analog and embedded semiconductor products used in industrial, automotive, personal electronics, communications equipment, and enterprise systems. Its analog products help manage power, sense and measure real-world signals, and support signal processing, while its embedded processing products provide computing and control functions within electronic systems.
The company offers a broad portfolio of semiconductors, including power-management devices, amplifiers, data converters, microcontrollers, processors, and connectivity products.
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Cyndeo Wealth Partners ve třetím čtvrtletí snížila svůj podíl ve společnosti Intuit o 88,2 % prodejem 7 913 akcií; ponechala si 1 061 akcií v hodnotě 293 000 USD.
Cyndeo Wealth Partners LLC lessened its stake in Intuit Inc. (NASDAQ:INTU – Free Report) by 88.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,061 shares of the software maker’s stock after selling 7,913 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Intuit were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Fiduciary Financial Advisors purchased a new stake in shares of Intuit during the second quarter valued at about $25,000. Sankala Group LLC purchased a new position in shares of Intuit in the 4th quarter worth approximately $40,000. Whipplewood Advisors LLC purchased a new position in shares of Intuit in the 1st quarter worth approximately $30,000. HHM Wealth Advisors LLC grew its position in shares of Intuit by 75.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock worth $30,000 after buying an additional 30 shares during the last quarter. Finally, CrossGen Wealth LLC bought a new position in shares of Intuit during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.
Wall Street Analyst Weigh In INTU has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut shares of Intuit from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $605.00 to $331.00 in a research report on Wednesday, August 26th. Citigroup lowered their target price on shares of Intuit from $591.00 to $457.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. UBS Group reaffirmed a “neutral” rating on shares of Intuit in a report on Friday, September 18th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Intuit in a research report on Thursday, September 24th. Finally, Wolfe Research lowered Intuit from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 26th. Sixteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Intuit presently has a consensus rating of “Hold” and a consensus price target of $431.55.
View Our Latest Stock Report on Intuit Intuit Price Performance Shares of NASDAQ INTU opened at $325.15 on Monday. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $689.17. The company has a market cap of $86.89 billion, a PE ratio of 19.71, a P/E/G ratio of 0.95 and a beta of 1.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.51 and a current ratio of 1.51. The business has a 50-day simple moving average of $321.16 and a two-hundred day simple moving average of $327.91.
Intuit (NASDAQ:INTU – Get Free Report) last posted its quarterly earnings data on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.45. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.27 billion. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.75 earnings per share. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. As a group, equities analysts expect that Intuit Inc. will post 23.02 EPS for the current fiscal year.
Intuit Increases Dividend The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Thursday, October 8th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $1.20. Intuit’s dividend payout ratio (DPR) is currently 33.45%.
Trending Headlines about Intuit Here are the key news stories impacting Intuit this week:
Positive Sentiment: Sequence acquisition expands AI and mid-market capabilities. Intuit agreed to acquire Sequence, a Series A company whose platform automates complex quote-to-revenue workflows, including pricing, contracts, invoicing, collections and revenue recognition. Investors viewed the transaction as a strategic expansion of Intuit Enterprise Suite and QuickBooks Online Advanced into larger and more sophisticated businesses. Financial terms were not disclosed. Intuit to Acquire AI-Native Revenue Management Platform Sequence Positive Sentiment: Intuit Intelligence is now available internationally. The wider rollout of Intuit’s AI platform across international markets could increase adoption of its unified ecosystem, including QuickBooks, TurboTax, Credit Karma, Mailchimp and Intuit Enterprise Suite. The announcement reinforces management’s broader effort to use AI to drive customer productivity and cross-selling. Intuit Intelligence Now Available Internationally Positive Sentiment: Fundamentals provide support. Intuit’s latest reported quarter exceeded revenue and earnings expectations, with revenue increasing 13.7% year over year. The company also issued fiscal 2027 EPS guidance of $22.88–$23.12, helping underpin the longer-term growth narrative. Neutral Sentiment: Investor attention is high, but the Zacks reports add little new information. Multiple articles primarily note that INTU is among the most-searched stocks, suggesting elevated interest following the Sequence announcement rather than identifying a separate fundamental catalyst. Intuit Is Attracting Investor Attention Negative Sentiment: Volatility and mixed ownership signals remain risks. The stock has suffered a substantial 12-month decline, while reported institutional activity shows both large purchases and sizable reductions. Recent insider trading has also been weighted toward sales, potentially limiting enthusiasm after the acquisition-driven rally. Insider Buying and Selling In other Intuit news, Director Richard Dalzell sold 285 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total transaction of $92,727.60. Following the transaction, the director owned 11,531 shares in the company, valued at approximately $3,751,726.16. This represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren Hotz sold 907 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $346.54, for a total transaction of $314,311.78. Following the completion of the transaction, the chief accounting officer directly owned 1,628 shares of the company’s stock, valued at approximately $564,167.12. This represents a 35.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.49% of the company’s stock.
About Intuit (Free Report)
Intuit Inc is a global financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, taxes and marketing. Its ecosystem combines financial management, tax preparation, accounting, payments and customer relationship tools.
The company’s principal products include TurboTax for tax preparation, QuickBooks for accounting, invoicing, payroll and payments, Credit Karma for personal financial services, and Mailchimp for marketing automation and customer engagement.
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Robertson Stephens Wealth Management ve třetím čtvrtletí zvýšila svůj podíl ve společnosti Cummins Inc. o 512 % na 4 217 akcií v hodnotě 2,178 mil. USD.
Robertson Stephens Wealth Management LLC increased its stake in Cummins Inc. (NYSE:CMI – Free Report) by 512.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,217 shares of the company’s stock after acquiring an additional 3,528 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Cummins were worth $2,178,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in CMI. Persistent Asset Partners Ltd bought a new position in Cummins during the 2nd quarter worth approximately $26,000. Elevation Wealth Partners LLC lifted its position in shares of Cummins by 91.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 22 shares during the period. Cedar Mountain Advisors LLC boosted its stake in shares of Cummins by 1,500.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 45 shares during the last quarter. Key Financial Inc boosted its stake in shares of Cummins by 62.5% in the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Finally, Cornerstone Financial Management LLC boosted its stake in shares of Cummins by 65.8% in the 2nd quarter. Cornerstone Financial Management LLC now owns 63 shares of the company’s stock valued at $45,000 after purchasing an additional 25 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
CMI has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Cummins from $690.00 to $600.00 and set a “neutral” rating for the company in a research report on Wednesday, September 23rd. Weiss Ratings lowered shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. Morgan Stanley upped their price target on shares of Cummins from $752.00 to $761.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. DA Davidson increased their price target on Cummins from $605.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Truist Financial lowered their price objective on Cummins from $894.00 to $779.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Cummins presently has a consensus rating of “Moderate Buy” and a consensus target price of $708.18.
Get Our Latest Stock Report on Cummins
Insider Activity
In other Cummins news, VP Earl Newsome sold 698 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $572.22, for a total transaction of $399,409.56. Following the completion of the sale, the vice president owned 4,479 shares in the company, valued at approximately $2,562,973.38. The trade was a 13.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.
Cummins Stock Down 0.1%
CMI stock opened at $530.72 on Monday. The stock’s 50 day simple moving average is $555.86 and its 200 day simple moving average is $620.62. Cummins Inc. has a fifty-two week low of $405.82 and a fifty-two week high of $737.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73. The company has a market cap of $73.06 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 1.40 and a beta of 1.24.
Cummins (NYSE:CMI – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 EPS for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $6.43 EPS. On average, research analysts expect that Cummins Inc. will post 29.98 earnings per share for the current fiscal year.
Cummins Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, November 20th. Cummins’s dividend payout ratio (DPR) is currently 44.97%.
Cummins Company Profile
(Free Report)
Cummins Inc is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services engines and power systems for commercial vehicles, industrial equipment, mining, construction, agriculture, marine applications and other markets.
Cummins’ product portfolio includes diesel and natural gas engines, generators and other power-generation equipment, as well as fuel systems, filtration products, emissions-control systems, turbochargers and drivetrain components.
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Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMI – Free Report).
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ING’s Francesco Pesole says EUR/USD is modestly undervalued versus short-term fair value around 1.137–1.139, but ongoing French fiscal concerns and protests may limit gains. He sees risks as balanced, with downside from France and upside from further AI-related pressure on Fed expectations, and keeps a one-month EUR/USD target at 1.130.
French protests and AI keep risks balanced
"EUR/USD briefly dropped back below 1.120 overnight before inching higher again this morning. The move in short-term rate differentials has pushed our short-term fair value estimate for EUR/USD higher to around 1.137-1.139. The current undervaluation is therefore around 1.3-1.5%, broadly consistent with French fiscal risk remaining very much present, as reflected in the 10yr OAT-Bund spread hovering around 135-140bp."
"Markets have appeared tentatively more relaxed about the budget situation. Still, continued widespread protests in France over the weekend should weigh on domestic stocks and could spill over into the bond market. We doubt that is enough to drive further sustained widening per se, but it may limit EUR/USD's ability to return to Friday's levels."
"On the macro side, the highlight of the week is Friday's PMI release. Expectations are for a modest softening in the eurozone composite figure, while remaining well inside expansionary territory. Tomorrow, Germany's ZEW index will be in focus."
"The balance of risks for EUR/USD is fairly even at this stage. Downside risk continues to stem from France, although it has abated somewhat as of late, while the upside comes from further AI concerns hitting Fed rate expectations. Our month-ahead target remains 1.130."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
Berkshire Hathaway od července 2024 prodala více než 549 milionů akcií Bank of America, ale růst sazeb a ocenění s 30% prémií k účetní hodnotě mohou další odprodeje omezit.
For the first time in well over half a century, Berkshire Hathaway (BRKA +1.08%)(BRKB +1.21%) entered the year in uncharted territory. On Dec. 31, Warren Buffett retired as CEO, paving the way for his protégé, Greg Abel, to oversee the company's day-to-day operations and its closely watched $363 billion investment portfolio.
Abel didn't waste much time making his mark. He disposed of 16 stocks in the first quarter and pared down six others, including one of the Oracle of Omaha's core holdings, Bank of America (BAC -0.91%)(also known as BofA).
Warren Buffett has officially passed the baton to Greg Abel. Image source: Getty Images.
In the six quarters leading up to Buffett's retirement, he was a persistent seller of BofA stock. This pattern has continued through Abel's first two quarters as CEO, with Buffett and Abel collectively selling more than 549 million shares since July 2024, or 53% of what had been a 1.03-billion-share position.
The writing looked to be on the wall that Bank of America would get the heave-ho -- but that may not be the case any longer.
Buffett and Abel collectively sold over 549 million shares of Bank of AmericaAs recently as a few months ago, there were three reasons to believe that BofA's time as a prominent Berkshire Hathaway holding would come to an end.
BAC Bank of America$51.23-$0.47 (-0.91%)
NYSE · As of 4:00 PM ET 10/16/26
Firstly, Buffett and Abel have always been sticklers for value. When the Oracle of Omaha first invested in BofA's preferred stock in August 2011, its common stock was trading at a 62% discount to book value. As recently as August, BofA peaked at a 65% premium to book value.
Secondly, Bank of America is the most interest-sensitive of the country's money-center banks. With the Federal Reserve lowering rates six times between September 2024 and December 2025, no large bank was at greater risk of its net interest income shrinking than BofA.
Third and finally, Greg Abel's first annual letter to shareholders excluded Bank of America in his discussion of companies that can compound over multiple decades.
The writing looked to be on the wall that Bank of America would soon get the heave-ho.
Image source: Getty Images.
Greg Abel's tune on Bank of America may have changedWhile additional selling is possible, several catalysts that had made Bank of America stock less attractive have reversed course.
For example, Bank of America's ongoing profitability and prudent lending have allowed its book value per share to steadily rise. When coupled with the recent pullback in BofA's share price, the company's stock is now trading at only a 30% premium to book value following its third-quarter operating results. BofA may not be a screaming bargain like it was in August 2011, but it remains attractive at just a 30% premium to book.
BAC Price to Book Value data by YCharts.
Additionally, the central bank kicked off only its fourth rate-hiking cycle of the century on Sept. 16. According to the CME Group's (CME +1.52%) FedWatch Tool, the odds are incredibly high that the Fed will implement several rate hikes over the next year. As the most interest-sensitive large U.S. bank, BofA's net interest income should benefit.
The narrative surrounding Bank of America appears to be changing, making it less likely that Warren Buffett's successor sends it to the chopping block.
Berkshire Hathaway drží rekordních 369 miliard USD v hotovosti, protože akcie velkých společností se obchodují 10 až 19 % nad svými historickými průměry ocenění.
Greg Abel finally broke a 14-quarter streak for Berkshire Hathaway (BRKA +1.08%) (BRKB +1.21%) last quarter, when he purchased more stocks for the company's marketable equity portfolio than he sold. Before Abel took over as CEO, Warren Buffett spent the last three years trimming and selling off huge positions in Berkshire's portfolio, ultimately leaving Abel with a record $369 billion in cash available to deploy.
There's a good reason Buffett struggled to find good investments. There just wasn't a lot of value in the market available to him. Even today, Abel struggles to find ways to deploy a significant portion of Berkshire's cash. While he's made a splash by adding tens of billions to the Alphabet position Buffett initiated last year, other investments have remained relatively small.
A single table explains exactly why Berkshire has struggled to find attractive opportunities in today's market, but it also highlights the opportunity for investors like you and me to find great value.
Image source: Getty Images.
This table explains exactly where to find value in today's market
The following table shows the P/E ratio of various segments of the market relative to their 20-year historic P/E ratios.
ValueBlendGrowthLarge-Cap119%115.8%110%Mid-Cap96.7%96.9%119.9%Small-Cap91%103.6%134.8%
Data source: J.P.Morgan Asset Management.
The table above shows that large-cap stocks trade at an average premium of 10% to 19% relative to their historical valuations. Value stocks have become the most overvalued relative to their historic trading range. That's a problem for a value investor like Buffett, Abel, or Berkshire Hathaway's other investment manager, Ted Weschler. Large-cap stocks are practically the only way for Berkshire to deploy significant capital. And if the average stock is trading above its historic average, there aren't going to be very many stocks trading at an attractive value.
Buffett summed up the problem in a single sentence in his 2023 letter to shareholders. "There remain only a handful of companies in this country capable of truly moving the needle at Berkshire, and they have been endlessly picked over by us and by others." Not only is Berkshire's investable universe small, but it's also well-followed, which makes it less likely that Berkshire will discover anything the market has overlooked.
$532.02+$6.34 (+1.21%)
NYSE · As of 4:00 PM ET 10/16/26
But if you look further down the table on the left side, you'll find that small- and mid-cap value stocks are trading below their historic valuations. That's exactly where you should be looking for attractive value stocks. Large institutional investors are effectively unable to invest in smaller stocks because it's simply not worth the time to analyze a company just to invest a few million dollars for them when they're managing billions. But small retail investors can probably invest as much as they want in any publicly traded stock.
How to find great value stocks
Focusing on the portion of the market that much larger institutional investors often ignore can help find more mispriced companies and better values.
Investors can easily screen for businesses with consistent profits, growing free cash flow, and manageable debt levels trading at an attractive valuation. Take the top names and do your due diligence to determine whether a company has a durable competitive moat and if there's a reason the market is offering a discount on the stock.
If you don't understand exactly how a business makes money, there's no shame in putting it in the "too hard" pile. As Buffett said, "Investors should remember that their scorecard is not computed using Olympic-diving methods: Degree-of-difficulty doesn't count."
Investors who don't want to do the homework can buy an ETF that invests in the attractive market segment. For those focused exclusively on small-cap value stocks, the Avantis US Small Cap Value ETF (AVUV -0.30%) is a favorite. It doesn't just filter by valuation; it also uses profitability metrics and book value as additional checks to weed out value traps.
AVUV American Century ETF Trust - Avantis U.s. Small Cap Value ETF$120.08-$0.36 (-0.30%)
NYSEMKT · As of 4:00 PM ET 10/16/26
The Dimensional US Targeted Value ETF (DFAT -0.17%) includes both small- and mid-cap value stocks. It also avoids companies with poor profitability to keep value traps out of the portfolio. As an actively managed ETF, it also empowers its traders to substitute stocks within its investable universe for one another to reduce transaction costs and potential tax consequences.
Either is a great option for investors looking to add exposure to the historically undervalued portion of the market, where big investors like Berkshire Hathaway don't spend much time.
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note GBP/USD surprised with a stronger-than-expected surge to 1.3371 before easing to 1.3329. Intraday, the British Pound (GBP) is now seen consolidating between 1.3290 and 1.3360 as overbought conditions cool. Over the next 1–3 weeks, however, upward momentum is still building, and UOB sees scope for a push toward resistance at 1.3405 while support sits at 1.3260.
Pound retains constructive short term tone "24-HOUR VIEW: Following the advance in GBP that reached a high of 1.3278 last Thursday, we indicated on Friday that “while there is scope for GBP to continue to rise, any advance should stay within a 1.3240/1.3295 range.” We did not expect upward momentum to strengthen so quickly, as GBP soared to a high of 1.3371. GBP pulled back from the high to close at 1.3329 (+0.40%). Upward momentum has slowed with the pullback. This, combined with overbought conditions, suggests that instead of continuing to rise, GBP is more likely to rangetrade between 1.3290 and 1.3360."
"1-3 WEEKS VIEW: The following are excerpts from our update last Friday (16 Oct, spot at 1.3270): “GBP could edge higher toward 1.3315. Currently, it is too early to determine whether momentum will strengthen sufficiently for a break above this level. To sustain the momentum buildup, GBP must hold above the ‘strong support’ level, now at 1.3210.” Instead of edging higher, GBP broke above 1.3315 and soared to a high of 1.3371. Upward momentum continues to increase, and GBP could rise toward 1.3405 next. On the downside, the ‘strong support’ level is now at 1.3260."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
New York, New York--(Newsfile Corp. - October 19, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Hims & Hers Health, Inc. ("Hims & Hers" or the "Company") (NYSE: HIMS) on behalf of investors that purchased or otherwise acquired Hims & Hers securities between August 4, 2025 and July 29, 2026 (the "Class Period").
CLICK HERE TO JOIN THE CASE
If you are an investor in Hims & Hers and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than November 2, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On July 29, 2026, the Federal Trade Commission ("FTC"), the People of the State of California through Los Angeles County Counsel and the Utah Division of Consumer Protection sued Hims & Hers in the Northern District of California. According to the FTC, the action alleges that Hims & Hers fails to clearly disclose that it charges consumers for prescriptions almost immediately after they submit an intake form, despite telling consumers that they will be able to consult with a medical provider to find a treatment that is "right for them." The FTC also alleges that the company has made it difficult for consumers to cancel subscriptions and misled consumers about keeping their health information private. The FTC alleges that Hims shared consumers' health information with Meta, Snap and other third parties.
Following this news, the price of Hims & Hers stock fell $4.32 per share, or 14.73%, to close at $25.00 per share on July 29, 2026.
Based on the FTC allegations, the complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts to investors, including that (1) the Company shared consumers' health information with third-party advertising platforms; (2) the Company charges consumers for prescriptions almost immediately after they submit an intake form, despite telling consumers that they will be able to consult with a medical provider to find a treatment that is "right for them;" (3) the foregoing conduct subjected the Company to regulatory scrutiny; (4) as a result of the foregoing, the Company was reasonably likely to incur fees and penalties; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Akcie Nebius v říjnu klesly o 30 %, přesto firma musí ve druhém pololetí dosáhnout tržeb ve výši zhruba 2 mld. USD, aby splnila dolní hranici celoročního výhledu.
On June 18, Nebius Group (NBIS -12.18%) stock ended the day at $286.69, a record. Right now, shares trade around $165 -- about 40% lower. Most of that drop is recent, with the stock falling about 30% in October alone.
Sure, it's still been a great year for anybody who bought the artificial intelligence (AI) cloud provider's stock in January. Even after the slide, the stock has nearly doubled this year.
But the stock arguably isn't cheap enough yet. Nebius is calling for a sharp gain in revenue in the next two quarters, and I think the price already assumes it gets there.
Image source: The Motley Fool.
No company news explains the dropNebius itself hasn't given investors much new to worry about. Its October announcements included a small software acquisition and a developer-training program. And the company hasn't changed its forecast since it reaffirmed its 2026 guidance with its second-quarter report in August.
Instead, the selling looks broader. Fellow AI cloud provider CoreWeave has dropped about as much as Nebius in October, as investors seem to have soured on companies that rent out AI computing power. I can't pin down a single reason.
Put another way, the price has changed far more than the business has over the last few weeks.
Can the second half deliver?Nebius' growth has been remarkable. Revenue climbed from around $228 million in the last three months of 2025 to $399 million in the first quarter of 2026, then $582 million in the second quarter, up 454% year over year. Compared to the previous quarter, growth slowed from 75% to 46%. But every quarter still added over $170 million in revenue. Annualized run-rate revenue (the last month of the quarter's AI cloud revenue, times 12) rose from $1.9 billion in March to $3.0 billion in June.
Management, though, is calling for a much steeper climb. Nebius expects revenue of $3.0 billion to $3.4 billion for 2026, and year-end annualized run-rate revenue of $7 billion to $9 billion.
With $981 million of revenue in the first half, reaching even the bottom of that range means taking in around $2 billion in the second half, more than twice the first half's total. Put differently, Nebius has to average about $1 billion a quarter, or about 75% more than it took in during the second quarter.
If it just kept adding revenue at its second-quarter rate, full-year revenue might be closer to $2.7 billion.
Management expects new capacity to bridge that gap. On the August earnings call, chief financial officer Dado Alonso said Nebius expects "capacity deployed late in Q2 to begin contributing to revenue in Q3."
The third-quarter report should show if it does.
Meanwhile, building that capacity is expensive. Capital expenditures were around $5.7 billion in the second quarter alone. And Nebius swung to a net loss from continuing operations of around $190 million, since a big investment gain from a year earlier didn't repeat.
The price still assumes a lotNebius often points to more than $40 billion in customer commitments. The amount in its financial statements is a little lower. Remaining performance obligations (signed contract revenue it hasn't recognized yet) were around $37.5 billion on June 30, and Nebius expects just 36% of that to become revenue over the two years through June 2028. That total was up from about $33.6 billion at the end of March.
Plus, revenue is concentrated. Three customers made up 24%, 21%, and 14% of second-quarter revenue, or 59% combined, though Nebius labels them just by letter. The only investment-grade clients it names, Microsoft and Meta Platforms, have each signed deals worth over $10 billion.
At around $47 billion, Nebius trades at about 15 times the sales it expects this year, using the midpoint of its forecast. At the June peak, it was closer to 24 times sales.
NBIS Nebius Group$165.47-$22.94 (-12.18%)
NASDAQ · As of 4:00 PM ET 10/16/26
True, that multiple has fallen a lot. But around 15 times sales is still pricey for a company that lost money in the second quarter and is spending heavily to add capacity.
Is a 40% drop enough to make Nebius a buy? Not yet, in my view. The company is growing exceptionally fast. But at this price, I'd want to see the second-half ramp show up in the results before buying.
What would change my mind is a third-quarter report showing revenue heading toward $1 billion a quarter, plus backlog growth from customers besides Microsoft and Meta. A lower stock price would help, too.
Bitcoin mining company MARA Holdings has transferred 1,000 BTC worth approximately $82.8 million to cryptocurrency exchanges Binance and Gate over the past five days, raising questions about another possible sale from its Bitcoin reserves.
Summary
MARA linked wallets transferred 1,000 BTC worth approximately $82.8 million to Binance and Gate over the past five days, according to Lookonchain. The latest deposits follow an earlier transfer of 996 BTC worth roughly $81 million to a wallet linked to Galaxy Digital on Oct. 8. MARA sold approximately 23,093 BTC for $1.63 billion during the first half of 2026 as the company reduced debt and funded operations. The latest exchange transfers have raised questions about further Bitcoin sales, although no completed sale has been confirmed. Blockchain analytics platform Lookonchain reported on Oct. 19 that wallets associated with MARA had deposited the Bitcoin into the two exchanges, suggesting the company may be preparing to sell some of its holdings.
The transactions involved wallets identified through blockchain tracking data, including addresses associated with MARA’s mining operations.
According to the wallet activity referenced by Lookonchain, the funds moved through multiple addresses before reaching their reported exchange destinations.
However, the transfers alone do not confirm that MARA has sold the Bitcoin. The company has not publicly established the purpose of the transactions, and the available records do not show whether the funds were converted into cash, used for trading, or transferred for another purpose.
The reported activity follows a series of Bitcoin sales and treasury transactions by MARA during 2026, when the company began using more of its cryptocurrency reserves to fund operations, repay debt, and support investments in digital infrastructure.
MARA Bitcoin transfers follow another $81 million transaction MARA’s latest exchange deposits were reported less than two weeks after another substantial movement of Bitcoin linked to the company.
On Oct. 9, crypto.news reported a transfer of 996.105 BTC worth approximately $81.13 million from a MARA-associated wallet to an address identified as belonging to Galaxy Digital.
Lookonchain flagged the earlier transaction after identifying the movement through blockchain records.
The transfer took place on Oct. 8 and involved Bitcoin moving from a wallet labeled as belonging to a MARA miner.
Although the transaction raised questions about a possible sale, the blockchain activity did not establish whether Galaxy Digital had purchased the assets or received them for another financial arrangement.
The latest deposits involve different reported destinations, with funds moving to Binance and Gate instead of Galaxy Digital.
Lookonchain’s findings identify the exchange transfers but do not establish whether the coins involved were newly mined Bitcoin or assets previously held in MARA’s treasury.
The two reported movements total approximately 1,996 BTC, valued at roughly $164 million using the dollar estimates published for each transaction. However, the available evidence does not establish whether the movements involved distinct coins or whether any assets were subsequently transferred between the identified destinations.
MARA has previously acknowledged that movements involving its Bitcoin reserves can result from activities other than outright sales.
In its third-quarter 2025 shareholder letter, the company disclosed that it had begun actively managing a portion of its Bitcoin holdings through trading activities, which could cause wallet balances to fluctuate.
The company said most of the Bitcoin allocated to its active management strategy remained in lending arrangements.
MARA sold more than $1.6 billion in Bitcoin during the first half MARA’s reported exchange activity comes after the company substantially reduced its Bitcoin reserves during the first six months of 2026.
The miner sold approximately 23,093 BTC for roughly $1.63 billion during the first half of the year, according to its financial disclosures.
Sales were concentrated in the first quarter, when MARA disposed of 20,880 BTC at an average price of approximately $70,137 per coin.
The transactions generated nearly $1.5 billion as the company sought additional liquidity and reduced outstanding debt.
In March, MARA announced that it had sold 15,133 BTC between March 4 and March 25 for approximately $1.1 billion.
According to the company’s official announcement, the proceeds were intended to support the repurchase of convertible senior notes due in 2030 and 2031.
The repurchase transactions were expected to reduce outstanding convertible debt by approximately 30% and generate around $88.1 million in savings before transaction costs.
MARA continued selling Bitcoin during the second quarter, disposing of another 2,213 BTC at an average price of $73,078.
The company produced 2,422 BTC during the same quarter, leaving its total holdings slightly higher than at the end of March.
By June 30, MARA held 35,577 BTC, compared with 53,822 BTC at the end of December 2025.
Its remaining Bitcoin holdings were valued at approximately $2.1 billion at the end of June, based on a reference price of $58,524 per coin.
MARA’s second-quarter financial results showed revenue falling 27% year over year to $174.9 million, while the company recorded a net loss of $611.3 million.
The company attributed part of its financial performance to changes in the fair value of its digital assets, which resulted in approximately $343 million in losses associated with Bitcoin and related receivables.
Despite the weaker financial results, Bitcoin production rose 3% year over year, while energized hashrate reached 70.3 exahashes per second.
MARA’s second-quarter shareholder letter said the company expected to continue monetizing Bitcoin when market conditions and capital requirements supported doing so.
The policy permits sales to fund operations, provide liquidity, and finance capital projects.
Bitcoin reserves are supporting MARA’s financing plans MARA has increasingly used its Bitcoin holdings for financing arrangements alongside direct sales.
In August, the company pledged 18,750 BTC as initial collateral for two credit facilities that provided $600 million in new borrowing.
The arrangements involved Coinbase Credit and Two Prime Lending, with each providing $300 million in additional financing.
Coinbase’s facility included the refinancing of an existing $150 million credit line, bringing its total principal to $450 million.
Two Prime separately provided a $300 million loan carrying a fixed annual interest rate of 7.65%.
The facilities were structured with a weighted average borrowing cost of approximately 7.56% on the incremental financing.
MARA said the proceeds could support general corporate purposes, including part of the cash consideration for its planned acquisition of Long Ridge Energy & Power.
At the end of June, the company had already allocated 9,270 BTC to its digital asset management strategy.
Of that amount, 4,742 BTC had been loaned to counterparties, while another 4,528 BTC had been pledged as collateral.
The remaining 26,307 BTC were classified as unrestricted holdings at the reporting date.
The company generated approximately $4.3 million in interest income from Bitcoin lending arrangements during the second quarter.
MARA’s filings distinguish between unrestricted Bitcoin, assets loaned to counterparties, and Bitcoin pledged to secure borrowing.
The company has not disclosed whether the latest 1,000 BTC exchange deposits relate to any of those existing financing arrangements.
MARA continues investing in AI and energy infrastructure MARA’s Bitcoin treasury strategy has developed alongside its investments in artificial intelligence, power generation, and high-performance computing infrastructure.
The company has been expanding beyond conventional Bitcoin mining operations by acquiring energy assets and developing facilities that can support computing workloads.
Its planned acquisition of Long Ridge Energy & Power involves a 505-megawatt natural gas power plant in Ohio and a site that could eventually support more than one gigawatt of computing capacity.
The proposed transaction, valued at approximately $1.5 billion, forms part of MARA’s effort to control energy infrastructure used by its mining and computing operations.
The company has identified Bitcoin-backed borrowing as one source of financing for the acquisition.
MARA has pursued another large development in Texas, where it acquired a 1,200-acre powered site with potential access to as much as two gigawatts of grid capacity over time.
The Texas project is intended to support additional digital infrastructure development as the company expands its computing business.
Management has said its potential power portfolio could reach approximately 4.8 gigawatts when its existing assets and planned developments are considered.
The company previously disclosed that it was evaluating the conversion of some Bitcoin mining capacity to artificial intelligence and other computing applications.
MARA’s strategy has included reviewing up to 90% of its non-hosted mining capacity for possible conversion, although the company has not committed to converting that entire amount.
Its second-quarter shareholder letter identified access to electricity, land, and computing infrastructure as priorities for future investment.
The company reported purchased energy costs of approximately $38,690 per Bitcoin at its owned facilities during the quarter.
MARA mined 2,422 BTC during the period and reported that no Bitcoin was purchased in the second quarter.
Its financial disclosures stated that Bitcoin would remain part of the company’s capital management strategy, with holdings available for lending, collateral arrangements, and sales depending on business requirements.
The company has said its Bitcoin monetization decisions remain subject to market conditions and capital allocation priorities.
NZD/USD se drží kolem 0,5660 poblíž třítýdenních maxim, protože růst čínského HDP o 4,5 % ve třetím čtvrtletí převážil negativní dopad širšího novozélandského obchodního deficitu.
The New Zealand Dollar (NZD) stands its ground against the US Dollar (USD) at the start of the week, as positive data from China offset the downbeat New Zealand Trade Balance earlier in the day. The NZD/USD pair maintains its immediate bullish trend, trading at 0.5660, just below three-week highs and with bulls looking at the late September highs at 0.5990.
Data from China, New Zealand’s main trading partner, revealed that the country’s Gross Domestic Product (GDP) grew at a 4.5% pace in the third quarter, beyond the second quarter’s 4.3% growth and beating expectations of a 4.4% increase. Beyond that, Retail Sales rose 1.1% in September, more than twice the market consensus, easing concerns about the country’s weak domestic demand.
In New Zealand, on the contrary, the trade deficit widened to NZD 1.97 billion in September, from NZD 1.54 billion in August. Also on Monday, the NZ Business PSI, a gauge measuring the services sector’s performance, showed a moderate slowdown, to 50.9 in September from a downwardly revised 51 in the previous month, with businesses showing concern about political uncertainty ahead of the elections and the higher cost of living.
The US Dollar has opened the week in the same bearish trend seen in the previous one. US inflation figures revealed that prices remain well above the Federal Reserve's (Fed) target. Central bank policymakers, however, requested some more time to assess the impact of September's rate hike, which hints at a pause in the October 29-29 monetary policy meeting.
Technical Analysis: Bulls remain in control while above 0.5930
NZD/USD trades at 0.5659, holding a constructive near-term bullish bias as it consolidates above previous highs in the 0.5630-0.5640 area. Momentum conditions favor the upside, with the Relative Strength Index hovering in the low 60s and the Moving Average Convergence Divergence (MACD) line holding in positive territory, which together suggest buyers retain control.
The immediate target is the September 24 and 28 top at 0.5660. Further up, the September 22 high, at the 0,5750 area, would come into focus. On the downside, a bearish reversal below the 1.5130 area (October 6, 14 and 15 highs) would increase pressure towards last week's lows at the 0.5590 and 0.5565 areas.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Identity project World, co-founded by OpenAI CEO Sam Altman, has officially launched a World ID verification product tailored for banks and financial institutions. The suite, unveiled at the Money20/20 conference, marks the project’s first industry-specific custom offering. It integrates three products: the World ID app (an identity wallet for storing user "proofs"), World ID for Zoom (a tool to confirm call counterparts are real humans), and World ID for Agents (AgentKit, which allows users to delegate identity verification to AI agents). World ID for Zoom, after limited testing in April, is now fully available; its lead developer Tools for Humanity has also joined Zoom’s Independent Software Vendor (ISV) program. In terms of implementation partnerships, World said it is exploring use cases for the technology in financial services with design partners including OpenExchange, Bain Capital, VanEck Funds, and Outtake, but did not disclose specific bank clients or pricing details. World highlighted that as AI becomes more widespread, businesses are increasingly requiring users to provide "proof" to mitigate fraud risks. Deloitte projects that U.S. AI-driven fraud losses will reach $40 billion by 2027. Currently, over 18 million people globally hold World’s "Proof of Humanity" credentials. Additionally, the project launched last month the self-custodial app World Money, which covers over 150 countries, and raised $52.5 million via a WLD token sale in July.
The Pound-Dollar rate could extend gains if UK inflation strengthens BoE hike bets, although softer labour data may limit Sterling’s upside.
Trade in the Pound US Dollar (GBP/USD) exchange rate was highly volatile last week amid dramatic swings in pricing for a Federal Reserve interest rate hike this month.
At the time of writing, GBP/USD was trading at around $1.3226. Almost unchanged from the start of last week’s session.
Latest — Exchange Rates:
Pound to Dollar (GBP/USD): 1.33301 (+0.44%)
Euro to Dollar (EUR/USD): 1.12394 (+0.23%)
Dollar to Yen (USD/JPY): 157.99261 (-0.09%)
DAILY RECAP:
Trade in the US Dollar (USD) proved to be highly volatile last week, striking a new year-to-date high before swiftly collapsing.
USD was initially subdued this week amid a modest improvement in risk appetite and investor caution ahead of the latest US consumer price index.
The US Dollar then stormed higher as the CPI figures outpaced expectations, reporting that inflation accelerated to 3.7% in September.
The figures raised concerns that inflationary pressures were becoming entrenched and saw USD investors rush to reprice Fed rate hike expectations, with the odds of an October hike climbing as high as 50% in the hours following the inflation data.
However, the ‘Greenback’ suffered a swift correction as it was hit by mounting concerns over the sustainability of AI spending, which has underpinned the bulk of US economic growth over the past couple of years.
The USD selloff then gathered pace following comments from Federal Reserve Chair Kevin Warsh, as his reluctance to commit to a specific policy path saw the odds of an October hike plummet back below 15%.
The Pound (GBP) struggled to find a strong directional bias through the first half of last week’s session.
While GBP investors welcomed an upgrade to the International Monetary Fund’s (IMF) latest growth forecast for the UK, Sterling’s upside potential remained limited following comments from Bank of England (BoE) Chief Economist Huw Pill.
Despite being one of the Monetary Policy Committee’s most hawkish members, Pill pushed back against market pricing that the BoE will deliver four hikes within a year.
Sterling then fared much better in the second half of the session as the UK’s latest GDP figures offered a welcome surprise after defying expectations for a contraction of growth in August.
Near-Term GBP/USD Forecast: Rising inflation to Lift Sterling?
Turning to this week, the Pound to US Dollar exchange rate could be pushed higher with the publication of the UK’s own consumer price index.
Consensus estimates predict inflation will have accelerated to 3.4% in September, likely strengthening Sterling sentiment as it reinforces bets the BoE will begin tightening monetary policy next month.
However, potentially tempering the upside in Sterling will be the UK’s latest labour figures, which are forecast to report a rise in unemployment in August.
Meanwhile, US economic data is in short supply this week, but the US Dollar may mount a recovery if fresh geopolitical uncertainty underpins safe-haven demand.
Exchange Rates UK Research
Our currency coverage draws on live market data, official economic releases and published bank research.
Natera představí na kongresu ESMO 20 abstraktů; její test Signatera Genome dosáhl analytického limitu detekce nižšího než jedna částice na milion a detekce byla pozorována výrazně pod jednou částicí na 10 milionů.
Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA and precision medicine, today announced that 20 abstracts featuring its technology will be presented at the 2026 European Society for Medical Oncology (ESMO) Annual Congress, taking place October 23–26 in Madrid, Spain.
New evidence highlights the power of Natera’s latest ultrasensitive molecular residual disease (MRD) technology, Signatera Genome with Phased and Structural Variants, which has demonstrated an industry-leading analytical limit of detection (LOD95) below 1 part per million (ppm), and detection observed significantly below 1 part per 10 million.1
Spanning tumor types and treatment modalities, multiple ESMO presentations will show that serial ctDNA testing provides meaningful clinical benefit:
ICONIC trial in gastroesophageal cancer (abstract 2901P): Among patients treated with perioperative chemotherapy and immunotherapy, MRD clearance during neoadjuvant therapy was strongly associated with a lower risk of recurrence and a favorable pathologic response. Signatera Genome with Phased and Structural Variants detected all evaluable recurrences during surveillance, with a >7.3 month median lead time over standard imaging.SAGITTARIUS trial in colon cancer (abstract 808P): In this phase III trial, post-operative patients were randomized to a physician-choice adjuvant treatment plan prior to receiving MRD results to assess impact. The analysis showed that Signatera results influenced a change to providers’ pre-planned treatment for one in three patients, of which 87% were treatment de-escalated based on MRD negativity.Colorectal/Breast cancer (abstract 4258P): In a retrospective analysis of surveillance monitoring of stage I-III breast and colorectal cancer survivors, serial Signatera negativity was associated with an extremely low 2-year recurrence risk, which may help refine risk stratification and inform eligibility for solid organ transplant earlier than current methodologies.Breast cancer (abstract 1770RO): In HER2+ metastatic breast cancer, an analysis of exceptional responders on anti-HER2 therapy showed 81% with sustained MRD-negativity during serial monitoring, supporting the potential for Signatera-guided de-escalation.MDT-Bridge trial in non-small cell lung cancer (NSCLC) (abstract LBA62): This phase II trial evaluated MRD clearance from baseline to pre-surgery/pre-CRT using the Clarity™ assay with phased variant technology.MRD-guided reflex to liquid CGP drives actionable treatment decisions (abstract 4260P): In a cohort of 50 patients across 10 tumor types, Signatera, complemented by reflex to blood-based comprehensive genomic profiling (liquid CGP), identified clinically relevant biomarkers in 18 patients, including ESR1, BRAF, FGFR3, and BRCA2.“We are pleased to share data at ESMO that highlights our expanding diagnostics portfolio, which includes the newest version of our ultrasensitive Signatera Genome test,” said Minetta Liu, M.D., chief medical officer, oncology and early cancer detection, Natera. “The incorporation of phased and structural variants results in the ability to detect ctDNA significantly below 1 part per 10 million and takes MRD sensitivity into a range we haven’t seen before.”
The 2026 ESMO program featuring Natera’s technologies includes:
October 23, 2026, 15:15 CET | Abstract 4258P
Presenter: Hideaki Bando, M.D., Ph.D.
Poster: Circulating tumor DNA (ctDNA)-informed risk prediction in breast (BC) and colorectal cancer (CRC) patients (pts): implications for solid organ transplant (SOT)
October 23, 2026, 15:15 CET | Abstract 4265P
Presenter: Luca Lazzari, Ph.D.
Poster: Genomic alterations and association with post-surgery circulating tumor DNA status in early-stage colon cancer
October 23, 2026, 15:15 CET | Abstract 4764P
Presenter: Yousef Zakharia, M.D.
Poster: Outcomes in patients with muscle-invasive bladder cancer with divergent differentiation or histologic subtypes from NIAGARA
October 23, 2026, 15:15 CET | Abstract 3633P
Presenter: Nicholas Bingham, BS
Poster: Utility of circulating tumor DNA in patients with renal cell carcinoma at increased risk of recurrence after resection
October 23, 2026, 16:15 CET | Abstract 542RO
Presenter: Yukinori Ozaki, M.D., Ph.D.
Rapid Oral: Prognostic impact of postoperative ctDNA surveillance on relapse-free survival and molecular lead time in high-risk breast cancer: JCOG1204A1
October 23, 2026, 15:15 CET | Abstract 4462P
Presenter: Benjamin O. Herzberg, M.D.
Poster: Genomic landscape of the SKI Complex in a large multi-cancer cohort of 260,000 tumors
October 23, 2026, 15:15 CET | Abstract 4276P
Presenter: Nicholas Hornstein, M.D., Ph.D.
Poster: Quantification of circulating tumor DNA (ctDNA) in patients using a multi-cancer, methylation-based assay for tissue-free treatment response monitoring (tf-TRM)
October 23, 2026, 15:15 CET | Abstract 4260P
Presenter: Jason A. Mouabbi, M.D.
Poster: Clinical utility of reflex liquid comprehensive genomic profiling (LCGP) to complement tumor-informed circulating tumor DNA (ctDNA) monitoring in solid tumors
October 23, 2026, 15:15 CET | Abstract 4417P
Presenter: Fizza Mughal, Ph.D.
Poster: Plasma whole-exome sequencing (pWES) reveals somatic landscape and clonal dynamics in metastatic urothelial carcinoma
October 24, 2026, 10:15 CET | Abstract 4741RO
Presenter: Matthew D. Galsky, M.D.
Rapid Oral: Exploratory analysis of molecular subtypes and association with treatment outcomes in patients (pts) with muscle-invasive bladder cancer (MIBC) from NIAGARA
October 24, 2026, 12:00 CET | Abstract 574P
Presenter: Adrianne L. Rolfes, M.D.
Poster: Neoadjuvant anti-PD1 without chemotherapy in early-stage luminal B breast cancer
October 24, 2026, 12:00 CET | Abstract 583P
Presenter: Teck Long King
Poster: ≥4 positive nodes identify a population enriched for ctDNA-guided adjuvant treatment escalation in ER+/HER2- early breast cancer
October 25, 2026, 12:00 CET | Abstract 808P
Presenter: Vicente Alonso-Orduna, M.D.
Poster: ctDNA negativity influences adjuvant treatment decisions: a paired counterfactual analysis from the SAGITTARIUS trial
October 25, 2026 | Abstract 870eP
Presenter: Carlo Federici, Ph.D.
e-Poster: Cost-effectiveness of a dynamic ctDNA-guided adjuvant strategy in stage II-III colon cancer, A SAGITTARIUS model-based analysis
October 25, 2026, 12:00 CET | Abstract 810P
Presenter: Stefano Tamberi, M.D., Ph.D.
Poster: ctDNA-guided adjuvant trials may miss the molecular residual disease (MRD) window: evidence of early attrition during trial allocation
October 25, 2026, 12:00 CET | Abstract 820P
Presenter: Benjamin Weinberg, M.D.
Poster: Leronlimab (LRM) in combination with trifluridine/tipiracil (TAS-102) plus bevacizumab (BEV) in metastatic colorectal cancer (mCRC): The phase 2 CLOVER study
October 25, 2026, 12:00 CET | Abstract 3542P
Presenter: Torben Van Zijp
Poster: Organ preservation in rectal cancer after neoadjuvant radiotherapy, bevacizumab and atezolizumab: Translational analysis from the TARZAN study
October 25, 2026, 12:00 CET | Abstract 2901P
Presenter: Marco Gerlinger, M.D., FRCP
Poster: Clinical performance of the Signatera Genome assay in patients with localized gastroesophageal adenocarcinomas (GEA) treated with peri-operative FLOT and immunotherapy: ICONIC trial
October 26, 2026, 10:15 CET | Abstract 1770RO
Presenter: Kazuki Nozawa, M.D.
Rapid Oral: Ultra-sensitive MRD assessment in long-term complete responders to anti-HER2 therapy in HER2-positive metastatic breast cancer: Initial results from HER2-CR study
October 26, 2026, 10:15 CET | Abstract LBA62
Presenter: Jonathan Spicer, M.D., Ph.D.
Rapid Oral: ctDNA clearance (CL) during neoadjuvant treatment (neoadj Tx) and its association with outcomes in patients (pts) with resectable/borderline resectable stage IIB–IIIB NSCLC from MDT-BRIDGE
References
William B, Galanina N, Iqbal M, et al. ctDNA-Based MRD as a Dynamic Biomarker for Monitoring Treatment Response and Relapse in Lymphoma. SOHO 2026 Annual Meeting, Houston, TX, September 9-12, 2026.About Natera
Natera is a global leader in cell-free DNA and precision medicine, dedicated to oncology, women’s health, and organ health. We aim to make personalized genetic testing and diagnostics part of the standard-of-care to protect health and inform earlier, more targeted interventions that help lead to longer, healthier lives. Natera’s tests are supported by more than 400 peer-reviewed publications that demonstrate excellent performance. Natera operates ISO 13485-certified and CAP-accredited laboratories certified under the Clinical Laboratory Improvement Amendments (CLIA) in Austin, Texas, and San Carlos, California, and through Foresight Diagnostics, its subsidiary, operates an ISO 27001-certified and CAP-accredited laboratory certified under CLIA in Boulder, Colorado. For more information, visit www.natera.com.
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are forward-looking statements and are not a representation that Natera’s plans, estimates, or expectations will be achieved. These forward-looking statements represent Natera’s expectations as of the date of this press release, and Natera disclaims any obligation to update the forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including with respect to our efforts to develop and commercialize new product offerings, whether the results of clinical or other studies will support the use of our product offerings, the impact of results of such studies, our expectations of the reliability, accuracy, and performance of our tests, or of the benefits of our tests and product offerings to patients, providers, and payers. Additional risks and uncertainties are discussed in greater detail in "Risk Factors" in Natera’s recent filings on Forms 10-K and 10-Q, and in other filings Natera makes with the SEC from time to time. These documents are available at www.natera.com/investors and www.sec.gov.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261018851261/en/
Pár GBP/USD se drží kolem úrovně 1,3330, ale nadále zůstává pod 100denním klouzavým průměrem na úrovni 1,3390, což udržuje krátkodobý výhled mírně medvědí.
The GBP/USD pair holds steady around 1.3330 during the early European trading hours on Monday. Traders continue to assess the US interest rate path after Federal Reserve (Fed) Chair Kevin Warsh’s remarks. All eyes will be on the UK jobs data on Tuesday. On Wednesday, the UK Consumer Price Index (CPI) inflation report will be in the spotlight.
During the 2026 IMF-World Bank annual meetings in Bangkok on Friday, the Fed Chairman said that he does not "prejudge" interest-rate decisions, giving no preview of whether the central bank will hike or hold short-term rates steady at its upcoming October 27-28 meeting.
Fed funds futures are pricing an implied 84% chance that the US central bank stays on hold at its next two-day meeting on October 28, according to the CME FedWatch tool.
UK economic data later this week are likely to help seal the deal on the first rate hike from the Bank of England (BoE) in over three years in November. “We expect a 25-basis-point hike at the central bank’s next meeting in November. We also see another move in February,” said Bloomberg Economics chief UK economist Dan Hanson.
Pound resilience masks growing UK consumer strains and rate repricing risksAnalysts at MUFG note that the Pound “continues to show resilience,” with recent economic data reinforcing expectations of further monetary tightening by the BoE. They point out that the Pound is “roughly unchanged versus the US Dollar since the end of June,” with only the energy-linked CAD and NOK outperforming, alongside the Yen, which has been supported by “yen buying intervention by the MoF, with assistance from the US.” In this context, MUFG argues that “the pound has done well on the back of improving sentiment and evidence of economic resilience.”
That resilience has been underpinned by stronger-than-expected growth figures. MUFG highlights that “the GDP data again was stronger than expected – the m/m gain of just 0.1% was modest but still better than expected, helping the 3mth/3mth rate to 0.7%, 0.2ppt stronger than expected.” They add that the three‑month gain “was helped by services activity,” although the “one-month reading was flat in August and could be a sign of weakening momentum.” Within services, the breakdown “showed consumer-facing weakness,” while a Bloomberg Intelligence survey “indicated vulnerabilities that could see a slowing in the months ahead.”
Those vulnerabilities are already showing up in credit dynamics. MUFG flags that the BoE’s quarterly Credit Conditions Survey “revealed an increase in defaults on credit card debt for the sixth consecutive quarter underlining the increased strains on UK consumers.” Despite this, “these exposures are increasing with consumer credit up GBP 2.5bn in August to a new record high.” MUFG cautions that “if rates remain around these levels, it’s very likely that these figures will deteriorate further in the final quarter of the year.”
As a result, the bank sees a tension between the recent data and the outlook. “So while the backdrop of the economic data has been positive, the outlook does point to increasing risks,” MUFG writes. They note that “the OIS market indicates 100bps of tightening is priced by next September” but reiterate that “we continue to doubt the BoE delivering that, especially following the comments from Chief Economist Huw Pill who stated this week that he is sceptical that the UK will require four 25bp rate hikes.” Even so, MUFG concedes that “it will be difficult for the markets to adjust lower given the global backdrop of higher rates.”
In their view, this leaves the Pound exposed if the global rate environment turns. “In circumstances of a broader move back lower in rates, UK rates could fall more notably,” they argue, warning that “the pound remains vulnerable to signs that recent economic resilience could be undermined by the notable move higher in yields.”
Bailey frustration on inflation keeps GBP supported but cautiousFXS Speechtracker scores this speech at 6.2, slightly below Governor Bailey’s historic 6.4 average, pointing to a marginally softer tone overall. Bailey’s frustration with above-target UK inflation and comments that the economy is “more resilient than we expected, not as strong as we need” lean mildly hawkish, as they keep the door open to maintaining restrictive policy for longer.
However, remarks that it is “too early to form strong views on the strength of 2nd round effects” and that such effects are “subdued” with businesses focused on cost cutting temper the hawkishness. For GBP, the mix suggests limited immediate upside, with support from ongoing inflation concerns but capped by caution over second-round dynamics and external risks such as Middle East-driven moves in UK gilt yields.
Technical Analysis: GBP/USD remains capped under the 100-day SMAIn the daily chart, GBP/USD holds below the 100-day simple moving average (SMA) and thus retaining a capped, mildly bearish near-term bias. Price is hovering just under the upper Bollinger Band, suggesting upside attempts are meeting supply, while the Relative Strength Index (RSI) at 52.4 has turned neutral, hinting that recent recovery momentum is losing traction rather than evolving into a sustained bullish trend.
On the topside, initial resistance level is aligned at the upper boundary of Bollinger Band around 1.3335, with a more meaningful barrier at the 100-day SMA at 1.3390. A daily close above this level could see a rally to the September 9 high of 1.3568.
On the downside, the Bollinger middle band, a 20-day SMA now around 1.3250, offers the first layer of support ahead of the lower band near 1.3165. A breach of the mentioned level could expose the November 20, 2025 low of 1.3038.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Pound Sterling FAQs The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).
The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.
Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.
Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
Měnový pár GBP/EUR minulý týden dosáhl 16měsíčního maxima díky nečekanému srpnovému růstu britského HDP, který posílil očekávání listopadového zvýšení úrokových sazeb BoE.
The Pound-Euro rate could remain supported if UK jobs and inflation data reinforce November BoE hike bets, while firmer Eurozone PMIs may offer the Euro some relief. The Pound to Euro (GBP/EUR) exchange rate accelerated to a fresh 16-month high last week, supported by surprisingly resilient UK economic growth.
At the time of writing, the GBP/EUR exchange rate was trading at around €1.1849. Up roughly 0.3% from the start of last week’s session.
Latest — Exchange Rates:
Pound to Euro (GBP/EUR): 1.186015 (+0.20%)
Pound to Dollar (GBP/USD): 1.33301 (+0.44%)
Euro to Dollar (EUR/USD): 1.12394 (+0.23%)
DAILY RECAP:
The Pound (GBP) was a little erratic in the first half of last week as market participants digested competing economic signals.
Initial tailwinds arrived from the International Monetary Fund (IMF), which upgraded its 2026 growth outlook for the UK economy from 1.0% to 1.3%.
However, that optimism was quickly checked by remarks from Bank of England (BoE) Chief Economist Huw Pill, who dampened currency sentiment by questioning aggressive market bets on four quarter-point interest rate rises over the next twelve months.
Sterling then accelerated in the second half of the week courtesy of a surprise uptick in monthly GDP.
August's unexpected expansion not only reinforced expectations that the Bank of England (BoE) will lift borrowing costs in November, and was also seen as offering more fiscal headroom for Chancellor John Healey in his upcoming Autumn Budget.
The Euro (EUR) opened last week’s session on the defensive, as persistent concerns over France’s mounting debt crisis continued to weigh on EUR sentiment.
The uncertainty surrounding the country’s proposed budget and the approaching 2027 presidential election drove French borrowing costs higher, while the premium investors demanded to hold French government bonds over German Bunds remained elevated.
The Euro then found a much-needed reprieve in the second half of the week, drawing strength from its negative correlation with the US Dollar (USD) as the latter tumbled.
Although fears that France’s fiscal woes could morph into a wider Eurozone debt crisis ultimately capped the Euro’s upside potential.
Near-Term GBP/EUR Forecast: Markets Brace for Deluge of UK Data Turning to this week, movement in the Pound to Euro exchange rate is likely to be dominated by several top-tier UK macroeconomic releases.
Particular highlights are likely to be the UK’s latest labour market report and consumer price index, the final major economic barometers due before the BoE convenes for its November policy gathering.
Any indications of cooling inflation or labour market slack that cast doubt on the case for an imminent rate increase could see Sterling quickly surrender its recent gains.
Meanwhile, in addition to ongoing French debt concerns, the Euro will also be influenced by the Eurozone’s latest PMI figures, with the Euro potentially finding further relief if the bloc’s private sector continued to expand at a healthy pace this month.
Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.
It's nearly Amazon's (AMZN -1.87%) turn to step up to the earnings podium. The e-commerce and cloud computing mega-giant is scheduled to report third-quarter earnings on Oct. 29, and I think investors have plenty of reasons to be optimistic.
Amazon spent much of 2026 defending its massive investments in artificial intelligence (AI) infrastructure, with capital expenditures expected to reach approximately $220 billion this year. That's an enormous amount of money, even for a company of Amazon's size.
However, the market isn't necessarily impressed by big spending announcements anymore. I've argued that Wall Street is in the "show-me" phase of AI, where investors want evidence that those investments are generating meaningful returns.
Image source: Amazon.
Amazon delivered some of that evidence in July, when its cloud computing business reported outstanding growth and Amazon stock jumped 12% in a single day. If that momentum continues into Q3, I think Amazon stock could soar once again following its upcoming earnings report.
Amazon is giving Wall Street what it wants
Amazon Web Services (AWS) is unquestionably the company's most important generator of profits, even though its online retail operations account for a much larger share of revenue. AWS revenue increased 37% from a year ago to $42.2 billion in the second quarter, its fastest growth in 18 quarters. Operating income jumped to $16.6 billion from $10.2 billion a year earlier.
That's particularly impressive when compared with Amazon's retail operations. Its North America segment generated $116.2 billion in revenue, but only $9.1 billion in operating income.
AWS also reported an annualized revenue run rate exceeding $25 billion for its AI business, while its custom chips business, which includes the Trainium AI processor, reached a similar annualized pace.
Those figures demonstrate that Amazon is doing more than building expensive data centers and hoping customers eventually show up. Companies are already paying for the computing capacity and AI services that AWS provides.
The demand isn't limited to one customer or application. Amazon has announced agreements involving companies such as OpenAI, Anthropic, Pinterest, and Uber Technologies.
That's the kind of evidence investors should be looking for during the show-me phase of AI.
Anthropic gives Amazon another advantage
Amazon's relationship with Anthropic, the developer of the Claude family of AI models, provides another interesting opportunity.
Amazon has invested $13 billion in Anthropic, and the companies have an extensive cloud computing relationship. Anthropic uses AWS infrastructure and Amazon's custom AI chips to support its growing computing requirements.
That arrangement gives Amazon two potential ways to benefit from Anthropic's expansion. First, AWS can generate revenue by supplying computing capacity to Anthropic. Second, Amazon could benefit from an appreciation in the value of its investment in the AI company.
In fact, Amazon's Q2 results included $53.4 billion in non-operating pretax income, primarily attributable to its Anthropic investment. That's an impressive gain, but there's an important distinction. Investment-related accounting gains aren't the same as recurring profits generated by AWS operations.
For that reason, I'll be paying much closer attention to AWS revenue and operating income than to any additional gains associated with Anthropic's valuation. Amazon doesn't need another enormous paper gain to demonstrate that its AI strategy is working. Continued growth in its cloud business would be much more meaningful.
AMZN Amazon$250.00-$4.76 (-1.87%)
NASDAQ · As of 4:00 PM ET 10/16/26
The $220 billion question
Amazon's spending comes with a substantial financial cost. It reported negative free cash flow of $7.6 billion for the 12 months ending June 30, compared with positive free cash flow of $18.2 billion during the preceding 12-month period.
Amazon attributed much of that deterioration to increased spending on property and equipment, primarily related to AI investments.
I think there's a huge difference between spending aggressively without meaningful customer demand and spending aggressively while your most profitable business is expanding at its fastest pace in years. Amazon appears to be in the latter category.
The Q3 report should provide another opportunity to evaluate that argument. Investors will want to see continued AWS revenue growth, healthy operating income, and evidence that demand for AI computing remains strong.
Another strong AWS quarter could go a long way toward addressing those concerns -- and provide the catalyst for a substantial post-earnings rally that I think Amazon will deliver after Oct. 29.
Berkshire Hathaway ve 2. čtvrtletí nakoupila akcie za 23,5 miliardy USD a prodala akcie za 3,7 miliardy USD, čímž se po třech a půl letech stala čistým nákupcem akcií.
In general, I've always found it better to follow someone's actions than their words, and the same holds true with investing. Interestingly, this rule can now be applied to legendary investor Warren Buffett and Berkshire Hathaway (BRKA +1.08%) (BRKB +1.21%).
In an early-May interview with CNBC, when asked whether stock prices were too high, Buffett responded, "Yeah." He said prices for a "lot of things will look very silly," and that he's never seen more people in a gambling mood than now.
Warren Buffett. Image source: Getty Images.
Fast forward five and a half months later, and the S&P 500 index (^GSPC -1.09%) is up 7% between May 1 (7,230.12) and Oct. 15 (7,744.06) since Buffett's interview. However, during that time, despite Buffett's call that the market was overvalued and risk levels were elevated, Berkshire has become more aggressive.
Berkshire and Buffett in a buying mood
In Q2, Berkshire became a net buyer of stocks for the first time in three and a half years. The insurance conglomerate bought roughly $23.5 billion in stocks while selling only around $3.7 billion. Prior to that, the company had been aggressively pairing down several of its top holdings, including Apple and Bank of America.
BRKB Berkshire Hathaway$532.02+$6.34 (+1.21%)
NYSE · As of 4:00 PM ET 10/16/26
At the same time, Berkshire bought back $4.5 billion worth of its own stock in the quarter. Prior to a modest $235 million share repurchase in Q1, it was the first time Berkshire had bought back any stock since 2024.
Berkshire has traditionally only bought back stock when it believes its assets are trading below their intrinsic value. In the past, it used price-to-book (P/B) ratios of 1.1x and 1.2x as guidelines for repurchasing shares, but it eliminated those thresholds in 2018. Berkshire stock currently has a P/B ratio over 1.5x, although it dipped below 1.4x in Q2 when it was buying shares.
Meanwhile, some of the stocks that Berkshire has been buying are also interesting. As of early October, over a quarter of the stocks in the S&P 500 were 40% or more off their highs. However, instead of hunting for bargains among these names, Berkshire has made investments in Alphabet (GOOGL -2.47%) (GOOG -2.32%) and the recent IPO Bending Spoons (BSP -15.60%). Under Buffett, Berkshire took a position in Alphabet toward the end of last year and then added to it significantly in a private placement this year to help fund the company's artificial intelligence (AI) infrastructure investments. Alphabet is now Berkshire's third-largest holding, representing nearly 13% of its equity portfolio.
More recently, the company has taken a stake in Italian company Bending Spoons. Berkshire bought $600 million worth of shares at its IPO in July, and then made another $330 million investment this month during a private placement. Bending Spoons is a leveraged digital technology holding company that buys beaten-down tech companies and works to improve their businesses by cutting costs, improving their technology, and raising prices. The stock trades at a 29-times forward price-to-earnings (P/E) ratio based on 2027 estimates and will carry plenty of debt, so it is not exactly a screaming "bargain" in any traditional sense.
Index
S&P 500 IndexToday's Change
(
-1.09
%)
-84.62
Index Level
7,659.44
Is now a good time to invest?
Whether you're looking to invest in Berkshire stock or the broader market with an S&P 500 exchange-traded fund (ETF), such as the Vanguard S&P 500 ETF (VOO -1.10%), you'll have some pretty heavy exposure to megacap tech. Apple and Alphabet make up nearly 35% of Berkshire's equity portfolio, while large-cap tech stocks account for about 40% of the S&P 500.
Although there is some fear of an AI bubble and some potential red flags (certain backward-looking valuation metrics like the CAPE ratio and funding concerns), there are also signs that the AI boom is still in the early innings (cumulative spending to GDP vs. past historical innovation booms). And valuations based on projected future earnings growth look low (the S&P 500 has one of its lowest PEG (price/earnings-to-growth) ratios ever).
Ultimately, it's nearly impossible to time the market, and time in the market is generally the better path to building wealth. As such, I'd continue to invest and dollar-cost average into stocks and ETFs, without letting valuation fears get in the way. In a way, that is what Berkshire has started to do this year.
SummaryCisco is downgraded to Hold as shares approach fair value after a 46% YTD rally.AI-driven order momentum and robust FY 2026 results underpin strong revenue and earnings guidance into FY 2027.Valuation is no longer compelling, with margin risks from hardware mix and elevated price-to-sales ratios.Technical support near $100-105 offers a potential swing-trade entry; fundamentals suggest patience for long-term investors.Pixelbizz/iStock Editorial via Getty Images
AI winners continue to come off the boil. Shares of Cisco (CSCO) are now down 18% from their June 4 high of $130. Earnings don't hit until mid-November, so price action hinges on what AI hyperscalers report and
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Stříbro XAG zůstává pod tlakem klesajícího trendu; průraz nad pivotní úroveň 58,65 USD by mohl oslabit medvědí výhled, zatímco neúspěch hrozí návratem k 55,56 USD.
The minor range is $61.74 to $55.56. Its 50% level at $58.65 is the nearest upside target. Trader reaction to this level will set the tone.
A sustained move over $58.65 will indicate the presence of counter-trend buyers. If this creates enough upside momentum, buyers could try to break out over the two main tops at $61.74 and $62.45. Overtaking these tops could drive the market into a short-term retracement zone at $63.81 to $65.75. Inside this zone is the 50-day moving average at $64.41.
A failure to overcome the pivot will signal the presence of sellers. This could lead to a retest of last week’s low at $55.56.
What to Watch There is no fresh news driving the early move. The trade is coming from the yield pullback and the dollar’s retreat from last week’s high. If the 10-year yield continues to work lower and the Dollar Index breaks last week’s low at 101.58, silver buyers have a chance to test $58.43 with momentum behind them. A recovery in either market would put the focus back on $55.40.
For spot silver, with the main trend down on the swing chart and the market below the 50-day moving average, my bias is to the downside. I will be watching the reaction to the pivot at $58.43 to determine if seller rejection of the level leads to another round of selling or if a breakout over the pivot leads to a counter-trend rally, thereby weakening my bearish outlook.
For December Comex silver futures, my bias is to the downside, but this outlook will weaken if counter-trend buyers overcome the pivot at $58.65.
Silver price (XAG/USD) gains ground after posting losses in the previous day, trading around $57.60 per troy ounce during Asian hours on Monday. Silver climbed amid fading expectations for a Federal Reserve (Fed) rate hike in October.
Market sentiment shifted after Fed Chairman Kevin Warsh spoke at an International Monetary Fund event on Friday, stating that he does not prejudge interest-rate decisions and offering no clear indication of whether the central bank will raise or hold short-term rates at its upcoming October 27–28 meeting.
Market expectations for a rate increase have dropped significantly. According to the CME FedWatch Tool, traders are now pricing in nearly an 83.9% probability that the Fed will keep interest rates unchanged later this month, a sharp rise from the 49% chance priced in just a month earlier.
Safe-haven demand further supported precious metals as rising anxieties around AI-related investments sparked a broader stock market selloff and dragged bond yields down. Rabobank observes that recent market turbulence has been particularly acute in the AI complex, noting that “AI-related stocks have had a tough few days.” At the same time, stress has also surfaced in associated credit markets. The bank notes that “CoreWeave’s bonds made headlines for not exactly the best reasons” and adds that, according to the Financial Times, investors are now “dumping data centre bonds” more broadly, underscoring how quickly sentiment has soured across this previously favoured theme.
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Rahul G. Patel reported a sale of 2,276 shares of Synaptics Incorporated (SYNA -0.32%) in an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$213,557Shares sold2,276Post-transaction shares (directly held)186,515Post-transaction value$17.8 millionTransaction value based on SEC Form 4 weighted average sale price ($93.83); post-transaction value based on Sept. 21 market close ($95.36).
Company OverviewMetricValueShare Price (as of Sept. 21 market close)$95.36Market Capitalization$3.6 billionRevenue (TTM)$1.2 billionNet Loss (TTM)-$490.8 millionCompany SnapshotSynaptics, established in 1986 and headquartered in San Jose, California, is a global semiconductor solutions provider with approximately 1,700 employees.
Synaptics develops and markets semiconductor product solutions, including AudioSmart for advanced sound and voice processing, ConnectSmart for high-speed multimedia connectivity, and DisplayLink for compressed video transmission, generating revenue across audio, video, and connectivity solutions.The company operates a fabless semiconductor business model, designing specialized chips for human-machine interface and multimedia connectivity applications.Synaptics serves original equipment manufacturers and system integrators in consumer electronics, computing, and mobile device markets, with primary customers including major PC, smartphone, and IoT device manufacturers.What this transaction means for investorsInvestors tend to get their haunches up when they see a key insider, like the CEO, dispose of shares. In this case, Patel was one of several insiders to sell shares at the same time. Aside from CEO Patel, VP/Controller Esther Song, and SVP/Chief Legal Officer Lisa Bodensteiner also sold stock.
However, investors shouldn’t read anything into the transactions. That’s because they sold shares under 10b5-1 plans. These trading plans are set up ahead of time between insiders (e.g., directors and officers) with access to key information. They set terms like the timing and number of shares.
Designed to avoid the appearance of insider trading on material, nonpublic information, which means investors can’t glean any information from these transactions.
Shareholders have been rewarded for owning Synaptics’ stock. This year, the stock gained 58.3% through Oct. 16. That easily beat the tech-heavy Nasdaq Composite’s total return of 13%.
Source: SEC Form 4 filing for SYNA | Filed: Sept. 21
Lawrence Rothman, CFA has no position in any of the stocks mentioned. The Motley Fool recommends Synaptics. The Motley Fool has a disclosure policy.
AUD/JPY se po lepších než očekávaných údajích o čínském HDP za 3. čtvrtletí, který meziročně vzrostl o 4,5 %, vrátil nad úroveň 110,00. Růst však může omezit rezistence na úrovni 110,17.
The AUD/JPY cross attracts some follow-through buyers for the second straight day on Monday, recovering further from an eight-month low, around the 108.65-108.60 region, touched last week. Spot prices climbed back above the 110.00 psychological mark during the Asian session amid a combination of supporting factors.
The Australian Dollar (AUD) gets a minor lift in reaction to Reserve Bank of Australia (RBA) Assistant Governor Chris Kent's hawkish remarks and China's better-than-expected Gross Domestic Product (GDP), showing that the economy expanded by 4.5% YoY in the third quarter. The Japanese Yen (JPY), on the other hand, is undermined by cautious Bank of Japan (BoJ) expectations, acting as a tailwind for the AUD/JPY cross. Traders, however, remain on high alert that Japanese authorities might step in again to prop up the domestic currency. This, in turn, warrants some caution for bullish traders.
From a technical perspective, spot prices retain a bearish near-term bias beneath the 200-period Simple Moving Average (SMA) on the 4-hour chart and a dense Fibonacci retracement band overhead. This, in turn, suggests that rallies could be sold into despite a mildly constructive backdrop from the Relative Strength Index around 52 and a modestly positive Moving Average Convergence Divergence (MACD) reading. The AUD/JPY cross currently trades just under the 38.2% retracement at 110.17, and the next relevant hurdle is pegged near the 50.0% level at 110.63 ahead of the 200-period SMA at 110.93.
Further up, the 61.8% retracement at 111.10 could cap the currency pair ahead of 111.76 and 112.61. On the downside, immediate support is seen at the 23.6% retracement near 109.59, with a break below exposing the recent swing low around 108.66 as the next significant bearish target.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
AUD/JPY 4-hour chart
Economic Indicator
Gross Domestic Product (YoY)
The Gross Domestic Product (GDP), released by the National Bureau of Statistics of China on a monthly basis, is a measure of the total value of all goods and services produced in China during a given period. The GDP is considered as the main measure of China’s economic activity. The YoY reading compares economic activity in the reference quarter compared with the same quarter a year earlier. Generally speaking, a rise in this indicator is bullish for the Renminbi (CNY), while a low reading is seen as bearish.
Zlato XAU/USD míří k 4 183 USD, podpořeno poklesem výnosů amerických dluhopisů; jeho růst však může brzdit inflace a 85% pravděpodobnost zvýšení sazeb Fedu v prosinci.
Gold and silver find support from falling Treasury yields, but persistent inflation and Fed rate hike risks could limit their recovery.
Gold (XAU) rose towards $4,183 in early Asian trading on Monday as US Treasury yields continue to drop. Concerns about AI funding needs and shipping risk in the Middle East pushed investors towards government bonds.
Oil prices also eased after Trump waived some Russian sanctions, but the policy remains under review. However, Brent oil trades above $108 and leaves the cost of energy elevated. In my view, the drop in Treasury yields could support further gains in both metals. But another surge in oil could revive fears of inflation and weaken the recovery.
The rate hikes by the Fed remain the main threat to the gold and silver outlook. US inflation increased to 3.7% in September from 3.4% in August. Gasoline prices jumped 9.1% during the month. The market expects a pause in October, but expectations for a hike in December still remain at 85%.
Fed Chair Kevin Warsh gave no clear signal about the next move. The high rates could strengthen the US dollar and renew pressure on both metals. Silver (XAG) could face additional pressure if the high cost of borrowing weakens industrial demand. This leaves room for a rebound but a strong recovery needs further relief in yields and the US dollar.
Gold Price Forecast: Recovery Faces Resistance at $4,200–$4,250 The daily chart for spot gold shows that the price is still trading at the support of the triangle pattern that has been forming since May 2025. The price remains below the 50- and 200-day SMAs, and the RSI remains below the midline. This suggests a negative trend and indicates that prices remain under pressure.
The immediate resistance in the gold price remains the $4,200 region. A break above $4,200 will likely push the price towards $4,330. However, the gold price needs to break above the $4,520 area at the 200-day SMA to indicate that the bottom is in and open the way for a strong rally in the gold market.
The weekly chart for spot gold also shows that the price is consolidating below the ascending trend line that stretches from the October 2023 lows. However, the price must break below $3,950 to indicate a strong drop and a deeper correction. However, if the price recovers successfully above the ascending trend line at $4,300, it will likely confirm a positive trend and open the way for further upside towards the $5,000 level.
Gold Price Forecast
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The 4-hour chart for spot gold also shows that $4,200 remains the key resistance in the short term. The price must break above the $4,200-$4,250 zone to signal a recovery in the short term. However, a break below the ascending trend line at $4,070 will likely push prices further down towards the $3,900-$4,000 area.
Silver Price Forecast: Break Above $64 Could Open Path to $72 The daily chart for spot silver shows that the price produced a rebound from the $55 support zone. The price must break above the $64 area to open the way for further upside towards the 200-day SMA at $72. A recovery above $72 is required to push prices towards $89.
On the other hand, a break below $55 will open the way for a further drop towards the $45 support area. The RSI also entered oversold territory as the price reached the $55 support. However, a break below $55 will likely push the RSI into oversold territory. If the silver price continues to drop, it will likely mark a long-term bottom at the $45 support zone.
The 4-hour chart for spot silver also shows strong consolidation in prices above the $55 area. The price remains between $55 and $63. A break of either of these levels is required to push prices in the next direction.
A break below $55 may push prices towards the $50 area, as indicated by the lower boundary of the descending wedge pattern. However, a break above $63 is required to push prices up to the $72 region.
What to Watch Next Gold and silver prices could extend their rebound if Treasury yields continue to drop. However, high oil prices and the risk of further rate hikes by the Fed could limit gains by keeping inflation pressures elevated. Gold needs to break above $4,200-$4,250 to strengthen the recovery, while silver needs to clear $63-$64. On the downside, a break below $3,950 in gold or $55 in silver could open the way for deeper losses. Both metals need further relief in yields and the US dollar to build a stronger recovery.
Read more: Falling Yields Fuel Rebound in Gold and Silver Despite Hot PPI
Muhammad Umair is a finance MBA and engineering PhD. As a seasoned financial analyst specializing in currencies and precious metals, he combines his multidisciplinary academic background to deliver a data-driven, contrarian perspective. As founder of Gold Predictors, he leads a team providing advanced market analytics, quantitative research, and refined precious metals trading strategies.
Největším rizikem pro AMD je ocenění: ukazatele P/E 139 a forward P/E 72 výrazně převyšují úrovně konkurence, přestože datová centra tvořila v posledním čtvrtletí 58 % tržeb.
Advanced Micro Devices (AMD -5.96%) has sold off in recent trading sessions. Amid an artificial intelligence (AI) chip shortage, it has thrived, as the leading AI chip company, Nvidia (NVDA -1.43%), is unable to meet all of the demand.
Admittedly, if the AI industry slowed and Nvidia could serve all interested customers, investors might have less reason to buy from AMD. But in that case, one overlooked factor could have the most effect on investors.
Image source: The Motley Fool.
The supreme threat to AMD stock Right now, the most pressing risk to AMD shareholders is the stock's valuation.
Currently, its price-to-earnings (P/E) ratio stands at 139. That is several times higher than the earnings multiples of Nvidia, Broadcom, and Taiwan Semiconductor. Additionally, AMD's forward P/E ratio of 72 appears to confirm the overvaluation.
CompanyP/E RatioAMD141Nvidia27Broadcom43Taiwan Semiconductor27 Data source: YCharts.
Worse, that valuation is probably based on its future as an AI chip producer. Indeed, if more customers turn back to Nvidia, investor interest in AMD stock could plummet. Moreover, if AMD's P/E ratio falls to Nvidia's current level, the stock could lose close to 80% of its value, a factor that may cause some investors to rethink their positions.
AMD Advanced Micro Devices$528.75-$33.48 (-5.96%)
NASDAQ · As of 4:00 PM ET 10/16/26
AMD the stock vs. AMD the company The silver lining here is that the valuation is more of a threat to the stock than to the company.
For one thing, AMD's data center business, which designs AI chips, accounted for 58% of the company's revenue in the latest quarter. While that is a lot, investors should remember that the company also operates gaming, client, and embedded segments, providing some diversification. In comparison, the data center segment made up almost 93% of Nvidia's revenue, making it close to an all-in play on AI chips.
Secondly, even in a downturn, it would likely be a mistake to write off AMD's AI chips. For one, many customers have built systems around them, which will likely make them reluctant to switch away from AMD. Also, agentic AI, a technology that can operate with minimal supervision, could propel the chipmaker to new heights under the right circumstances.
Additionally, AMD's AI accelerators have typically sold at lower prices than Nvidia's. This probably means that even in a plausible worst-case scenario, it will likely maintain a following among more budget-conscious customers.
Moving forward with AMD stock In the end, AMD investors should worry more about the chip stock's valuation than about the future of its AI chip business.
The stock's high valuation and a desire for diversification motivated me to reduce my AMD holdings. However, I am also a long-term investor and chose to maintain a substantial position in AMD stock. Despite my concerns about valuation and the possibility of an AI bust, I believe the need for chips will likely increase in the long term.
The company has established itself as a major player in the industries in which it operates. Over time, I expect its growth to catch up to its valuation.
Výnos dluhopisů CoreWeave se splatností v roce 2032 dosáhl 15 %, což signalizuje rostoucí riziko platební neschopnosti a může zatížit růst i finanční situaci společnosti Nvidia.
Even if you don't hold any bonds in your portfolio, paying attention to the market can offer some very valuable insights about your stock portfolio. Some investors may have found that out the hard way recently.
CoreWeave (CRWV -11.91%), the leading neocloud company backed by Nvidia (NVDA -1.43%), saw its stock pummeled after venture capitalist Chamath Palihapitiya shared a chart on social media showing its recently issued bonds set to expire in 2032 touched a 15% yield. CoreWeave issued the bonds with a 9.625% coupon in June. Reuters later reported that the 9.75% notes CoreWeave issued in April due in 2031 topped a yield of 16%.
The rising yields on CoreWeave's debt indicate the market believes CoreWeave's risk of default is increasing. Doubts are starting to creep in about whether the neocloud company can generate returns on its invested capital that exceed the cost of capital, especially amid a rising interest rate environment. Other neocloud companies such as Nebius (NBIS -12.18%) face similar pressures.
That's bad news for Nvidia and its investors.
Image source: Nvidia.
Nvidia's future is tied to CoreWeave and the neoclouds Nvidia's biggest customers may be the big investment-grade tech companies building out robust platforms and their own AI stacks, but the neoclouds present one of its biggest sources of growth going forward. Nvidia made efforts to ensure that when it made strategic investments in CoreWeave and Nebius earlier this year. The chipmaker invested $2 billion in each of the neoclouds. As such, any decline in their stock prices has an immediate impact on Nvidia's balance sheet.
Nvidia also signed an agreement with CoreWeave last year to buy any unused capacity from CoreWeave through 2032. While Nvidia CEO Jensen Huang says he doesn't think the company will have to step in, it's still a liability that hangs over the company. CoreWeave cites its $104 billion backlog of contracted revenue as a defense against the need for a backstop. Management says that's more than enough to cover its debt obligations.
CRWV CoreWeave$61.39-$8.30 (-11.91%)
NASDAQ · As of 4:00 PM ET 10/16/26
Most importantly for Nvidia, the neocloud companies are dedicated to building with Nvidia. Nvidia's strategic investments and willingness to help finance purchases are key reasons. But if the rising cost of capital catches up with the neoclouds before they can deliver returns, a key driver of Nvidia's sales growth could become a massive drag.
While the hyperscalers have much deeper pockets, they're all looking to add more of their own custom-designed AI accelerators, or XPUs, to their data centers instead of Nvidia GPUs. Amazon CEO Andy Jassy has said that using its Trainium chips saves it tens of billions in capital expenditures every year. Alphabet's Google Cloud CEO noted that the payback period for its custom TPUs is less than half that of its average server. Microsoft recently indicated plans to expand the use of its Maia chips for inference starting next year. In short, Nvidia can't rely on its largest customers to drive sales growth, even as they spend more on building AI data centers.
What it means for Nvidia investors Nvidia is unlikely to let CoreWeave or its other neocloud partners fail. But any signs of failure for the businesses will put pressure on its finances and growth.
Nvidia could end up lending CoreWeave more money through its financing arm. However, Nvidia's plans to finance up to $500 billion in AI build-outs have faced objections from its banking partners over the residual value of its GPUs. The chips Nvidia sells to its partners are used as collateral for the debt, so if they retain less value than Nvidia claims, Nvidia will have to cover more of the default risk itself.
NVDA Nvidia$214.13-$3.10 (-1.43%)
NASDAQ · As of 4:00 PM ET 10/16/26
The chipmaker is reportedly in talks with insurance companies about offloading some of the liability. Either way, it's a drag on Nvidia's finances in order to keep growing its sales. What's more, the bond market is saying those loans may be riskier than Nvidia originally thought.
That risk will fall to Nvidia by extension. The good news for investors is that the market already appears to be pricing in the risk of such financial pressure. Investors currently pay just 23 times forward earnings expectations for the stock, which is a low price for a company that just grew its bottom line by 126% year over year. The bond market just showed exactly why investors probably shouldn't be willing to pay more than that, though.
Adam Levy has positions in Alphabet, Amazon, and Microsoft. The Motley Fool has positions in and recommends Alphabet, Amazon, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
Nvidia (NVDA -1.43%) has made investors significantly richer over the past four years, turning a $10,000 investment into nearly $179,000 as of this writing.
This massive surge in Nvidia's shares has been fueled by the advent of artificial intelligence (AI). When OpenAI's ChatGPT, introduced publicly in November 2022, became a big hit, companies lined up to buy Nvidia's graphics processing units (GPUs) after it emerged that the semiconductor giant's chips played an instrumental role in training the chatbot.
The AI economy and Nvidia have come a long way since then. AI is now finding its way into several industries, boosting productivity and economic growth. The good news for Nvidia investors is that AI adoption isn't showing any signs of slowing, which explains why the company continues to deliver robust growth even after becoming significantly larger over the past four years.
We will take a closer look at the company's prospects in this article and assess whether investing $10,000 in Nvidia stock over the next five years could be a profitable move.
Image source: Nvidia.
Nvidia is the world's largest company, but it can become even biggerNvidia's AI-driven surge has made it the world's largest company with a market cap of $5.2 trillion. So, expecting another 20x jump in Nvidia's stock price over the next five years would be quite absurd, as it would put its market cap past $100 trillion. However, that doesn't mean Nvidia stock can't climb higher over the next five years.
NVDA Nvidia$214.13-$3.10 (-1.43%)
NASDAQ · As of 4:00 PM ET 10/16/26
After all, the company is still growing at an impressive pace despite the scale it has achieved. Nvidia's revenue in the first six months of fiscal 2027 (which will end in January 2027) increased by 96% over the same period last year to $177.8 billion. The company expects fiscal Q3 revenue of $108 billion, an 89% jump from the year-ago period.
Analysts expect a 91% spike in Nvidia's revenue for fiscal 2027 to $411.6 billion. Meanwhile, earnings per share are expected to almost double in fiscal 2027 to $9.31. Importantly, Nvidia CEO Jensen Huang is confident that the company's growth will continue unabated next year. He recently noted at a conference that the number of chips the company sells will double in 2027, according to CNBC.
Huang added that continued investments in AI infrastructure will drive this incredible growth, as companies and governments look to make the most of the technology's benefits. For example, the World Economic Forum noted earlier this year that AI could increase labor productivity by 1.5% to 3% over the next decade, citing the chief economist of consulting giant EY.
Moreover, investors will do well to note that AI is moving beyond data centers into real-world applications, such as robots and cars. Known as physical AI, Nvidia is pushing into this niche where machines can make complex decisions on their own. From performing precision-related tasks such as threading needles in surgical wards to operating on a conveyor belt, Nvidia is moving into a new frontier that could supercharge its long-term growth.
Nvidia's physical AI offerings are already being used by the likes of Amazon and Japan's national AI venture, and I won't be surprised to see the tech giant pulling in more customers. That's because the physical AI market's revenue is expected to grow to 430 billion euros by 2030, suggesting this niche could move the needle significantly for Nvidia over the next five years.
Throw in the $3 trillion to $4 trillion revenue opportunity that Nvidia sees in the AI infrastructure market in 2030, and it is easy to see why analysts have become extremely bullish about its growth prospects through fiscal 2029 (which will end in January 2029).
NVDA Revenue Estimates for Current Fiscal Year data by YCharts
According to the above chart, Nvidia's revenue could increase by 68% in fiscal 2028, which is almost in line with the company's guidance of 70% growth. That's expected to be followed by a 30% increase in fiscal 2029 to $900 billion. There is a solid chance Nvidia will maintain strong growth in fiscal years 2030 and 2031 as well, which could set the stock up for further gains.
The stock can still deliver impressive gainsLet's assume Nvidia's top line increases by even 10% in fiscal 2030 and 2031 (which will end in January 2031), its top line could reach $1.09 trillion in 2030 (given that fiscal 2031 will coincide with the majority of calendar 2030).
Now, this AI stock trades at 18 times sales. Assuming Nvidia trades at half of this sales multiple after five years, its market cap could jump to $9.8 trillion (based on the $1.09 trillion revenue estimate). That implies a potential upside of 88% from current levels. So, a $10,000 investment in this semiconductor stock will be worth more than $18,800 by 2030.
However, that could be a conservative estimate, as Nvidia could grow faster and command a premium valuation after five years. That's why investors can still consider buying this AI bellwether, as it has the potential to make investors richer owing to emerging niches within the AI ecosystem.
SummaryPalantir Technologies is rated Strong Buy due to accelerating revenue growth, expanding margins, and a durable AI-as-a-service moat.PLTR's model should benefit when AI infrastructure costs fall; its margins are already widening while peers’ compress, backed by deep government and commercial client entrenchment.Quarterly revenue grew 93% YoY, U.S. commercial revenue surged 149%, and adjusted operating margin expanded to 62%, outperforming software peers.Despite high multiples (115x earnings, 53x sales), PLTR's premium is justified by compounding growth, proven execution, and significant forward contract value.JasonDoiy/iStock Unreleased via Getty Images
Palantir Technologies Inc. (PLTR) has had one of the strangest years in the market. Its revenue grew 93% last quarter, its earnings more than doubled, and management raised its full-year guidance for the third time. The stock has gone
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The Commodity Futures Trading Commission (CFTC) has proposed a new framework that could allow U.S. cryptocurrency exchanges to opt for federal oversight. This proposed structure aims to create a new registration category known as the “crypto asset market,” which would fall under the CFTC’s jurisdiction. This framework is designed to cover exchanges offering leveraged, margined, or financed retail activity, incorporating requirements like market surveillance, anti-manipulation, customer protection, and proof-of-reserves controls. Basic spot exchanges may continue to operate primarily under state money-transmitter licenses, as the CFTC currently lacks the authority to enforce universal federal registration.
Key Takeaways
The CFTC’s proposal appears to indicate a move towards more structured federal oversight for certain crypto exchanges.
Market pricing suggests that the proposal could be supportive of a YES outcome for Bitcoin price increases in the short term.
The proposal is consistent with efforts to improve regulatory clarity and consumer protection in the cryptocurrency space.
What to Watch
Observers will be keen to see how major exchanges like Coinbase and Binance respond to the CFTC’s proposal. Any indication of support or resistance from key players could impact market sentiment. Additionally, the response from lawmakers and regulators, including any steps towards formal adoption or amendments to the proposal, will be critical in determining its future impact on the market. Markets will be monitoring these developments closely, as they could significantly influence Bitcoin’s price trajectory in the near term.
Bitcoin has long carried a reputation for extreme price swings that set it apart from conventional investments. A recent analysis from Grayscale, however, places those movements in a more familiar context by measuring them against individual stocks in the S&P 500.
According to the firm’s research note published on October 14, 2026, Bitcoin’s realized volatility over the past year stood at 43 percent.
That figure sits below the asset’s 10-year average of 64 percent and well under the 81 percent level recorded five years earlier.
Realized volatility tracks actual historical price movements rather than market expectations of future moves.
The one-year reading now falls inside the distribution of volatility observed among S&P 500 constituents.
More specifically, Bitcoin’s recent volatility was lower than that of 19 percent of the companies in the index, meaning a meaningful share of large-cap equities experienced larger price fluctuations over the same period.
The decline is not limited to the most recent twelve months.
Over the past decade, Bitcoin’s price swings have narrowed considerably as the market has matured.
Grayscale attributes the change to several structural developments: deeper market liquidity, broader institutional participation, and the expansion of regulated access points, including the spot Bitcoin exchange-traded products approved in the United States in 2024.
These factors have reduced the extremes that characterized the asset’s earlier years, when thin order books and limited institutional involvement amplified moves in both directions.
Even with the reduction, Bitcoin’s volatility remains higher than that of most individual S&P 500 stocks in the comparison sample.
The firm’s researchers note, however, that it no longer occupies a distinctly separate risk category.
The practical implication for portfolio construction is a shift in the central question investors face.
Rather than debating whether to hold an asset perceived as uniquely volatile, the focus moves to determining an appropriate position size that aligns with an investor’s overall risk tolerance and the way the holding interacts with the rest of a portfolio.
The same position-sizing and diversification tools already applied to high-volatility equities can be used for Bitcoin.
A single year of data does not fully capture Bitcoin’s behavior across complete market cycles, and realized volatility is inherently backward-looking. Still, the comparison supplies a concrete reference point against widely owned equities.
For investors who already allocate to volatile stocks—particularly growth-oriented names—the magnitude of Bitcoin’s recent price fluctuations may appear less exceptional than its long-standing reputation suggests.
The research emphasizes that any potential allocation still warrants the same disciplined evaluation of risk and opportunity applied to other holdings.
Grayscale’s analysis draws on data from Artemis as of October 14, 2026.
The findings align with broader observations that 2025 ranked among the least volatile years on record for the asset, according to separate research from K33. Together, the numbers illustrate how market infrastructure and participant mix have altered Bitcoin’s day-to-day behavior, even as larger drawdowns remain possible during periods of stress.
Cyklusově upravený percentil ukazatele MVRV Bitcoinu klesl po opakovaném odmítnutí na úrovni 87 000 USD na 25,7 %, což historicky odpovídá akumulačnímu pásmu.
Bitcoin keeps knocking on the door at $87,000. The door keeps not opening.
After repeated rejections near that level, a key on-chain valuation gauge has slipped below its 30th percentile. Crypto analyst Darkfost reported on October 18, 2026 that Bitcoin’s cycle-adjusted MVRV percentile had fallen to 25.7%, a reading tied to what has historically been accumulation territory.
What the MVRV reading actually says For Bitcoin, MVRV compares market value, the current price applied to all coins, against realized value, which prices each coin at the moment it last moved on-chain. When the gap is wide, holders are sitting on fat paper gains. When it narrows, the market is closer to its collective cost basis.
Darkfost’s version adds a twist. Rather than relying on the raw MVRV ratio, the analysis uses a percentile adjusted for current market conditions across cycles, asking how today’s valuation ranks against Bitcoin’s own history.
At 25.7%, Bitcoin is back in a band it has occupied only about 25% of the time. Historically, that region has been associated with accumulation rather than euphoria.
There is a nuance worth noting. The current reading sits in accumulation territory, but it has not entered the extreme undervaluation band that has historically lined up with major market lows.
The $87,000 problem Bitcoin faced at least three price rejections near or above $87,000 between late September and early October 2026.
When Darkfost’s observation landed, Bitcoin’s spot price was sitting between $81,700 and $81,900. That marks a clear pullback from the $87,000 resistance level that buyers have repeatedly failed to clear.
The research describes the recent selling as appearing capitulation-style, and the analysis suggests it may set up a transitional accumulation phase.
Lookonchain, KuCoin, Odaily and Cointelegraph all picked up Darkfost’s findings on the same day.
Long-term holders and ETFs: the supply side The research indicates that long-term Bitcoin holders are currently distributing more coins than they are acquiring.
US spot Bitcoin ETFs have been one candidate to absorb that supply. Net inflows to those products were mildly positive in September 2026. Flows have since flattened or tipped into slight outflows in October.
Why cycle-adjusted metrics are getting attention Raw on-chain metrics have a known weakness. As Bitcoin matures and its market structure changes, thresholds that worked in earlier cycles can drift out of usefulness. A cycle-adjusted percentile tries to correct for that by ranking current conditions against a moving historical backdrop.
What this means for traders and investors The research frames a potential strategic entry as dependent on the market holding around the $81,700 range and showing signs of a bullish reversal.
Long-term holders are net distributing, and ETF demand has cooled from September’s modest gains. If outflows begin to outpace inflows in a meaningful way, the accumulation thesis loses one of its supporting legs.
The current reading has exited the extreme undervaluation band most closely tied to historical market lows, leaving room for the metric to fall further before conditions match past cycle floors.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
According to David Schwartz, the chief architect of the XRP Ledger and Ripple’s CTO Emeritus, most people who hold or follow XRP do not know what its underlying network was built to do.
Schwartz spoke at Nasdaq during the celebration of Evernorth’s public listing. He said the most common misunderstanding is about where the XRP Ledger sits among the major blockchains. In his view, it has more functionality than Bitcoin but less than Ethereum or Solana, and that middle position is deliberate.
The Misconception Schwartz Wants To CorrectSchwartz described the ledger as built for a narrow set of financial tasks rather than general-purpose computing. Those tasks include:
Tokenization of real-world assetsPayments and liquidityLendingStablecoinsHe said this focus makes the network strong for some use cases and a poor fit for others. It does not support every application a developer might write. Instead, the ledger comes with what he called curated financial primitives, designed to meet the standards financial institutions expect.
Three Reasons Institutions Pick The XRP LedgerAsked why a bank or financial firm should build on the network, Schwartz gave three reasons:
It is fast, cheap and reliable.It is decentralized, so no single party can turn the system against its users.It comes connected to ready-made financial tools.RLUSD And A Multi-Chain FutureSchwartz said XRP Ledger supporters should not expect a single-chain outcome. Ripple’s RLUSD stablecoin runs on the XRP Ledger, but he said it also needs to be on other networks to reach more users and deeper liquidity.
He explained the goal in personal terms. People leave money idle in bank accounts, he said, because moving it somewhere it can earn a return takes effort. He wants the industry to reach a point where users think only about what their money is doing, not where it sits.
AI Agents Could Turn Blockchains Into Settlement LayersOn artificial intelligence, Schwartz said high-volume payments between AI agents may run on fast, low-cost payment channels, with final settlement on a blockchain. He expects some countries to become net buyers of AI services and others net sellers. Settling those imbalances, he said, will require a neutral settlement network. He did not say that network would be the XRP Ledger.
Ripple’s 2027 FocusLooking ahead to 2027, Schwartz pointed to Ripple’s acquisitions of GTreasury and Hidden Road. He said Ripple is combining them into one business. It plans to cross-sell products to clients who already move trillions of dollars through systems that do not touch crypto.
Schwartz said the Evernorth listing shows crypto connecting with traditional finance. It gives investors a way to hold XRP through retirement accounts and on corporate balance sheets.
Story Ends Here
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South Korea’s biggest crypto exchange just had a quieter week. Upbit reported weekly trading volume of 8.35 trillion won for the week ending October 18, 2026, a 15.5% decrease from the prior week.
That works out to approximately $6.28 billion.
The more interesting detail sits inside the total. XRP was the most traded asset on the platform during the week, finishing ahead of both Bitcoin and USDT.
Inside the numbers
In mid-October 2026, Upbit’s 24-hour trading volumes swung between $340 million and over $1.2 billion on active days.
The ranking of assets adds texture. XRP topped the volume table, with Bitcoin in second and the stablecoin USDT in third.
USDT’s presence in the top three is also worth a brief note. Stablecoins are tokens designed to track the US dollar, so heavy USDT trading can reflect traders moving between risk assets and something closer to cash.
A wider slowdown across Korean exchanges
Upbit was not alone in feeling the slowdown. Volume across major South Korean platforms fell by 19.56% in a preceding week, pointing to a broader pullback rather than a problem specific to one venue.
Measured against that figure, Upbit’s 15.5% decline looks somewhat milder.
Upbit has consistently held its position as the leading exchange in the country, regularly outpacing rivals such as Bithumb.
Upbit’s volumes have often reacted to swings in domestic stock markets, which suggests many Korean traders treat crypto and equities as neighboring options rather than separate worlds.
What this means for traders and the market
The most immediate implication is about liquidity. Lower volume generally means thinner order books, which can make prices more sensitive to large buy or sell orders.
XRP’s leadership is the other storyline to watch. Even as total activity fell, traders still concentrated a large share of their attention on a single asset, and that asset was not Bitcoin.
For the competitive landscape, rivals like Bithumb face the same headwinds. The broader 19.56% drop seen in a preceding week suggests the challenge across the sector is attracting volume at all, not just winning share from one another.
Looking ahead, the key signals will be whether weekly volume stabilizes near the 8.35 trillion won level or keeps sliding, and whether XRP keeps its spot at the top of the table.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Digital Asset Investor očekává, že XRP po skončení sporu se SEC překoná historické maximum; v současnosti se však nachází 62,5 % pod vrcholem z ledna 2018.
CoinDesk has published a comparative chart highlighting the performance of major cryptocurrencies since their peaks in December 2017 and January 2018. According to the chart, Bitcoin is trading 314% above its previous all time high, while BNB leads the group with a gain of 2,818%. Ethereum has risen 66% over its earlier peak, and Dogecoin has gained 322%.
Lagging performance for XRP against peersUnlike these assets, XRP currently trades around $1.33, which remains 62.5% below its all time high from January 2018. This underperformance stands out in the context of other large-cap cryptocurrencies, all of which have exceeded their previous highs by substantial margins.
Commentators in the crypto community, including Digital Asset Investor (@digitalassetbuy), have drawn attention to the divergence. Many see XRP’s position as evidence of lagging returns. However, Digital Asset Investor takes a different view, arguing the circumstances behind the numbers set XRP apart from its competitors.
Legal headwinds and their impactDigital Asset Investor emphasized that the CoinDesk analysis does not reflect the unique challenges XRP has faced in recent years. He pointed out that XRP was the only token among those compared that dealt with five years of regulatory pressure and enforcement actions, most notably a prolonged lawsuit by the US Securities and Exchange Commission (SEC).
At one time, XRP surpassed Ethereum by market capitalization and was positioned to potentially challenge Bitcoin as the leading cryptocurrency. Digital Asset Investor suggested the legal challenges directed at Ripple and XRP were significant factors contributing to the asset’s prolonged period of underperformance relative to its peers.
He sees these challenges not as evidence of fundamental weakness but as important context behind the numbers. He maintains that regulatory uncertainty has suppressed XRP’s ability to follow the growth of other large cryptocurrencies.
“XRP was the only one out of all of that list that has been attacked in every way known to man, including a five-year SEC lawsuit,” Digital Asset Investor stated, adding that the prolonged legal battles weighed heavily on the asset’s market trajectory.
Mini dictionary: Ripple, a San Francisco–based fintech company, is the primary developer of XRP and its network; the SEC lawsuit alleged that sales of XRP constituted an unregistered securities offering, a case watched closely by the global crypto industry.
AssetCurrent vs Previous ATHBitcoin+314%BNB+2,818%Ethereum+66%Dogecoin+322%XRP-62.5%Renewed optimism after legal resolutionWith the SEC lawsuit concluded and a US court determining that XRP is not a security, Digital Asset Investor believes the most significant obstacles to XRP’s growth have been removed. He pointed out that regulatory clarity is returning, with the SEC and Commodity Futures Trading Commission (CFTC) pushing for clearer rules in the US market.
Digital Asset Investor explained that these developments have led him to become “more bullish on XRP by a long shot than any of them,” referring to Bitcoin, Ethereum, BNB, and Dogecoin.
He maintains that, “All of the roadblocks are out of the way now,” and that the resolution of the legal battle has put XRP in a better position to regain lost ground.
Expectations for XRP’s future priceLooking ahead, Digital Asset Investor stated that he does not intend to sell his XRP position at a price of $5 to $10, indicating his belief that these levels would not reflect the full potential of a post-litigation XRP market. He interprets the underperformance shown by CoinDesk’s chart as a sign that XRP remains a compressed asset now ready to move, rather than a project in decline.
