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Gibbs Wealth Management lifted its stake in shares of JFrog Ltd. (NASDAQ:FROG – Free Report) by 48.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,260 shares of the company’s stock after buying an additional 4,996 shares during the quarter. Gibbs Wealth Management’s holdings in JFrog were worth $1,481,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FROG. Wasatch Advisors LP boosted its holdings in JFrog by 187.4% in the 1st quarter. Wasatch Advisors LP now owns 4,156,033 shares of the company’s stock worth $195,043,000 after acquiring an additional 2,710,167 shares during the period. First Trust Advisors LP grew its position in JFrog by 85,066.4% in the first quarter. First Trust Advisors LP now owns 3,362,370 shares of the company’s stock valued at $157,796,000 after acquiring an additional 3,358,422 shares in the last quarter. Congress Asset Management Co. raised its stake in shares of JFrog by 14.4% during the third quarter. Congress Asset Management Co. now owns 1,420,301 shares of the company’s stock valued at $137,826,000 after purchasing an additional 178,310 shares during the period. Bank of America Corp DE raised its stake in shares of JFrog by 48.2% during the first quarter. Bank of America Corp DE now owns 2,517,899 shares of the company’s stock valued at $118,165,000 after purchasing an additional 819,326 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of JFrog by 78.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,964,925 shares of the company’s stock valued at $92,214,000 after purchasing an additional 861,835 shares during the period. 85.02% of the stock is owned by institutional investors and hedge funds.

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

Positive Sentiment: JFrog’s new AI-SEC products strengthen its growth narrative. The company introduced tools for detecting “shadow AI,” scanning AI assets and enforcing policies across development and production environments. The offering expands JFrog beyond artifact management into the potentially higher-value AI-security market. JFrog AI Security article Positive Sentiment: New DevGovOps and compliance capabilities could support enterprise adoption. Features including signed compliance evidence, repository-level policies and DORA-related controls position JFrog as a broader software governance platform and may improve customer retention. JFrog DevGovOps announcement Positive Sentiment: Analyst sentiment remains supportive. Truist raised its price target to $115 while maintaining a Buy rating, citing confidence in JFrog’s growth outlook. Recent institutional filings also showed substantial share additions by BlackRock, JPMorgan and other investors. Neutral Sentiment: The upcoming earnings report is the next major catalyst. JFrog previously beat quarterly revenue and EPS expectations, with revenue up 28.7% year over year, but investors will look for confirmation that cloud momentum and fiscal-year guidance remain on track. JFrog pre-earnings sentiment article Negative Sentiment: Insider selling is a risk signal. Director Barry Zwarenstein sold 1,250 shares under a pre-arranged Rule 10b5-1 plan. Separately, company insiders have reported numerous sales and no open-market purchases in the past six months, which could temper enthusiasm despite the recent product and analyst catalysts. Insider Activity at JFrog In other news, CTO Yoav Landman sold 249,300 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $100.72, for a total value of $25,109,496.00. Following the sale, the chief technology officer owned 5,199,038 shares in the company, valued at approximately $523,647,107.36. This represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederic Simon sold 120,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $93.21, for a total transaction of $11,185,200.00. Following the completion of the sale, the director owned 2,864,328 shares in the company, valued at approximately $266,984,012.88. This trade represents a 4.02% 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 sold 915,453 shares of company stock valued at $86,664,266 in the last 90 days. 11.80% of the stock is currently owned by insiders. Analysts Set New Price Targets A number of research analysts have recently commented on FROG shares. Royal Bank Of Canada reissued an “outperform” rating and set a $118.00 target price on shares of JFrog in a research report on Thursday, September 3rd. Raymond James Financial set a $120.00 price target on shares of JFrog in a report on Friday, August 7th. Wall Street Zen downgraded shares of JFrog from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group set a $115.00 price objective on shares of JFrog in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $115.00 price objective on shares of JFrog in a research report on Thursday, September 3rd. Twenty-one analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.48.

View Our Latest Stock Analysis on JFrog

JFrog Stock Up 7.2% Shares of NASDAQ FROG opened at $100.62 on Friday. JFrog Ltd. has a fifty-two week low of $34.05 and a fifty-two week high of $105.76. The business has a 50 day moving average price of $93.30 and a two-hundred day moving average price of $80.67. The firm has a market cap of $12.41 billion, a PE ratio of -271.94 and a beta of 1.24.

JFrog (NASDAQ:FROG – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $163.77 million during the quarter, compared to the consensus estimate of $155.63 million. JFrog had a negative net margin of 7.35% and a negative return on equity of 2.71%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. JFrog has set its Q3 2026 guidance at 0.220-0.240 EPS and its FY 2026 guidance at 0.960-1.000 EPS. On average, analysts anticipate that JFrog Ltd. will post -0.11 earnings per share for the current year.

JFrog Profile (Free Report)

JFrog Ltd. is a software company that provides a platform for managing, securing and distributing software packages and releases throughout the application development lifecycle. Its technology is designed to help organizations move software reliably from development through production across cloud, on-premises and hybrid environments.

The company’s products include JFrog Artifactory, a repository for storing and managing software packages and container images; JFrog Xray, which provides security and compliance analysis for software components; and tools for continuous integration, continuous delivery, software distribution and release management.

See Also Five stocks we like better than JFrog Bloom Energy Just Reported—Its Biggest Order Is Still Waiting on a Pipeline Why Western Digital’s AI Storage Boom Defies the Chip Sell-Off Grand Canyon Education Strengthens Its Outlook, But Wall Street Remains Divided Amex Stock Slides on Job Cuts, But the Real Story Is Macro Want to see what other hedge funds are holding FROG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JFrog Ltd. (NASDAQ:FROG – Free Report).

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Booz Allen Hamilton continues to report decent earnings despite government contracting changes and AI fears. Q2 FY'27 results showed a 3.9% revenue decline but 18% adjusted EPS growth; management raised full-year EPS guidance. Upcoming midterm elections could catalyze a turnaround in civil contracting volumes.

Do you fear bad news can do more harm to a company's stock than good news can help it? It's not unheard-of. Investors are inherently defensive, wired to prevent losses more than they are to reap gains.

It's something investors are grappling with right now regarding GE Vernova (GEV -1.50%). While demand for its natural gas power turbines appears to be soaring, interest in its wind turbines is tumbling. Can the former's growth offset the latter's decline? Here are some visual aids to help put things in perspective.

Image source:

Not a headwind, but a shift
Yes, GE Vernova is one of the offshoots of the old General Electric, spun off from the iconic company in 2024. GE Vernova's focus is power production. In addition to wind and natural gas turbines, this enterprise manufactures hydropower equipment, power grid solutions, and even nuclear power reactors in addition to systems and software that optimize its technology.

Demand for these different categories of equipment is forever changing too, in step with constant rethinking of how to best shore up the planet's electricity shortage. And as it turns out, institutions can take or leave wind-driven electricity. GE Vernova's wind power equipment revenue fell 11% year over year to $2 billion during the second quarter of the year, paired with a 40% decline in orders for wind turbines, extending a slump that really materialized beginning in 2024.

Data source: GE Vernova. Chart by author.

This slump, however, isn't so much an indictment of renewable energy as much as it's an indication of shifting preference for a more proven and persistent form of clean energy. That's the aforementioned natural gas power turbines, which account for the bulk of GE Vernova's power division's sales. This business reported year-over-year revenue growth of 14% to $5.5 billion in Q2, while orders soared 135% to $16.7 billion. Both growth figures extend well-established trends.

Data source: GE Vernova. Chart by author.

Perhaps even more helpful is a combined, comparative visualization of these order numbers along with those of GE Vernova's electrification arm, which handles equipment like transformers and switchgear. This image speaks volumes, with total combined orders reaching a record $24.2 billion in Q2 alone.

Data source: GE Vernova. Chart by author.

The company's biggest roadblock right now? Mostly just a lack of production capacity, though it's addressing that as well.

The graphics speak for themselves
In answer to the overarching question, then, yes, the growth of GE Vernova's gas turbine business can more than offset the slow collapse of its wind turbine business. It's clearly doing so, in fact.

Its long-term future looks bright too, and not necessarily for the reason you might think. Although it is true that artificial intelligence (AI) data centers are purchasing GE Vernova's natural gas turbines as a source of secondary or even primary power, an implosion of the AI business (and its capital spending) wouldn't be a fatal blow to this company's leading growth engine. As CEO Scott Strazik noted during July's Q2 conference call, only 20% of GE Vernova's power division's current backlog is data center customers. The rest are conventional customers, such as utility companies, that need this equipment regardless of the economic backdrop.

When a miner finally stops digging holes in the balance sheet and starts pulling consistent profit from the ground, the math usually catches up to the reality. Eldorado Gold (EGO -3.77%) is currently in that rare transition window. Operating a diverse portfolio of gold, silver, lead, and zinc mines across Turkey, Canada, Greece, and Romania, it has spent the better part of a half-decade wrestling with heavy capital requirements and complex jurisdictional hurdles. As of October 23, 2026, the stock trades at $31.67 and has posted a 1-year return of 26%, reflecting a market that is finally pricing in the output from its major infrastructure projects.

Our proprietary Hidden Gems scoring system assigns Eldorado Gold an overall Superscore of 80 out of 100, placing it in the Strong category. The Superscore is an AI-powered score that evaluates a company's overall strength by combining financial performance, product market position, technological capabilities, leadership quality, and relative valuation. It represents the unification of all our scores into a single score for public companies, with five rating bands: Exceptional (90-100), Strong (75-89), Above Average (60-74), Average (40-59), and Cautious (0-39). This 81 places the company in the Top ~9% of every company we score. This score-driven analysis is meant to serve as a research starting point; investors should weigh these operational strengths against the inherent risks outlined below before making an investment decision.

Why EGO Has an 80 SuperscoreRevenue breakout momentum: Revenue jumped 40% year over year in fiscal 2025, signaling that the company has moved past years of stagnation and effectively scaled production at its core assets.Operational margin expansion: Operating margins surged to 41% in fiscal 2025, proving that the company can turn its increased mining output into legitimate bottom-line results.Strategic commodity diversification: The acquisition of Foran Mining and the integration of the McIlvenna Bay operation provide a significant copper-zinc mix, reducing the company's historical reliance on gold price volatility alone.Why Is EGO's Superscore Not Higher?Capital expenditure burden: Aggressive spending on infrastructure projects like Skouries resulted in negative free cash flow of $195 million in fiscal 2025, which limits the company's short-term financial flexibility.Project execution risks: Unexpected $155 million capital overruns at Skouries demonstrate that management can struggle with labor productivity and cost forecasting when building in complex environments.Elevated price-to-sales multiple: The stock trades at a trailing price-to-sales ratio of 2.94, a level that leaves little margin for error if commodity prices cool or production targets slip.Commodity price sensitivity: The business remains a price-taker in liquid global markets, meaning its profitability is inherently tied to gold and copper cycles that the company cannot control.Eldorado Gold is a highly capital-efficient business, earning a top-tier rank for returns on net tangible assets. Because it produces outsized profits on a relatively small base of physical assets, the market tends to pay a premium for that efficiency, assuming the company can sustain its current operational leverage.

Table 1: Hidden Gems Database Scores for Eldorado Gold (EGO)ScoreScore (out of 100)RankSupporting Data PointProduct (1Y)85Top ~11%Exceptional momentum driven by the successful operational scaling of the Skouries project.Product (5Y)68Top ~34%Consistent 12.5% revenue CAGR reflects a stable transition from mid-tier volatility to a reliable producer.Financial (1Y)80Top ~13%Fiscal 2025 marked an inflection point where heavy development capital shifted into realized revenue growth.Financial (5Y)74Top ~16%Revenue expanded from $871 million in 2022 to $1.85 billion in 2025, showing sustained recovery.Leaders72Top ~39%Management demonstrates transparency in disclosing project overruns, though execution planning remains a variable.AI29Top ~35%The company's core extraction model is not positioned to capture value from the AI transition.Valuation Risk85Top ~2%The stock trades at a trailing P/E of 10.07, suggesting an attractive valuation relative to recent cash flows.Is EGO Right For Your Portfolio?This stock warrants a closer look if...

You want exposure to gold and copper producers that function as alternatives to typical gold ETFs.You are hunting for a mining operation that has successfully transitioned from negative cash flow to a scalable profit generator.You may want to keep researching before buying if...

You are uncomfortable with the risks associated with the high capital intensity and project ramp-up timelines inherent in the mining sector.You believe the stock's current valuation multiple is already fully pricing in the anticipated production gains from new copper-gold assets.This Superscore is one data-driven signal worth investigating, not a stand-alone buy recommendation; weigh it against your own research, financial goals, and risk tolerance.

My 5-year prediction for EGO stockAs with many mining names, Eldorado's defining risk for the past half-decade has been execution, but 2026 is the year that risk started converting into output. Skouries in Greece, the $2 billion-plus copper-gold project that absorbed years of capital and a $155 million overrun, produced its first concentrate on September 8 and is targeting commercial production this quarter. A stockpile of more than 4.6 million tonnes of above-reserve-grade ore covers over seven months of plant feed, and in mid-October the European Commission granted the mine strategic-project status, easing future permitting and financing.

Meanwhile, the firm's C$3.8 billion Foran Mining acquisition closed in April, and the McIlvenna Bay copper-zinc mine in Saskatchewan poured first copper concentrate in June, with commercial production also expected imminently. Together, the two assets are designed to transform Eldorado into a diversified gold and copper producer, and management is guiding for roughly 40% gold production growth in 2027 versus 2025 once Skouries reaches steady state.

Eldorado's history shows how budgets and timelines slip, and the valuation assumes its mines deliver. But with both projects past their riskiest construction phases and third-quarter results due within days, the setup favors patient shareholders, and Eldorado seems poised for outperformance over the next five years as two decades-long assets hit their stride at once.

The Hidden Gems Superscore reflects The Motley Fool's proprietary AI-driven evaluation of a company across product, financial, leadership, and valuation pillars as of the article date and may change over time. Performance figures are point-in-time. Past performance does not guarantee future results.

Although Tesla's (TSLA -0.63%) earnings call certainly wasn't as polished as the Space Exploration Technologies one the previous day, it was no less compelling. The company met three key benchmarks many investors were looking for in Tesla, and investors have reason to feel more positive about the stock as a result. Here's why.

Tesla's earnings: Substance over presentation
The key to the medium-term investment case for Tesla is its Robotaxi rollout, how it can finance it (and its other investments, such as Optimus), and whether it retains its leadership position in electric vehicles (EVs) to continue self-funding its development. All three issues were addressed, directly or indirectly, in the benchmarks and numbers from the company's third-quarter earnings report and presentation.

TSLA Tesla$372.22-$2.36 (-0.63%)

NASDAQ · As of 4:00 PM ET 10/23/26

Automotive gross margin recovery
Gross margins matter because they are key indicators of a company's pricing power, competitiveness, and ability to generate future earnings growth and cash flow. Going back to the second quarter, Tesla reported a big increase in sequential automotive sales (from $15.5 billion in the first quarter to $20 billion in the second quarter). Still, the market was concerned by the drop in sequential gross profit margin (excluding regulatory credit sales) from 19.2% to 16.3%.

The key question going into the third quarter was whether the number would recover or a further decline would signal a loss of Tesla's competitiveness as it was forced to offer financial incentives to boost sales. The answer is in the chart, with a sequential improvement to 18.3% signaling strong demand. This was confirmed on the earnings call, with Chief Executive Officer Elon Musk noting, "Demand is growing rapidly for our vehicles. It's exceeding our production by a significant margin."

With global vehicle inventories down to just 11 days from 27 days at the end of the first quarter, it's unlikely Tesla needs to offer significant financial incentives now.

Data source: Tesla presentations. Chart by the author.

Tesla eases cash flow concerns
Let's face facts: The Robotaxi rollout has been much slower than Musk estimated last year. As such, cash flow projections for Tesla from recurring robotaxi earnings have been pushed out.

At the same time, management has raised expectations for up-front capital expenditure (capex) this year, forecasting full-year capex of more than $20 billion in January, then more than $25 billion in April, and again in June. However, Chief Financial Officer Vaibhav Taneja dialed back expectations to "approximately $20 billion for the current year as a result of managing our capital deployment efficiently."

This may sound esoteric, but it's actually highly significant, given that Tesla lined up $30 billion in credit, raising concerns that it might not be able to self-fund its investment plans amid robotaxi rollout delays and capex requirements. The update soothed those concerns.

Image source: The Motley Fool.

The Robotaxi rollout is on track
Finally, it's a real positive that expectations for the Robotaxi rollout, and for its two-seat Cybercab, now appear to be consistently maintained. Although social media is fixated on how many Robotaxis and Cybercabs are joining the fleet and how many cities are covered, the reality is that Tesla needs to get Robotaxi/Cybercab operational in a model that can then be rapidly scaled.

The key to scaling comes from ironing out operational issues (running a robotaxi network, etc.) and, as management has repeatedly outlined this year, the validation and release of its next major upgrade to its full self-driving (FSD) software, namely v15. On the earnings call in April, Musk said v15 would be out "hopefully by the end of this year, but certainly by early next year." Fast forward to the July call, and Tesla's AI head, Ashok Elluswamy, said that robotaxis were using early versions of v15.

Image source: Tesla.

The subject matter came up again on the recent earnings call, with a question from Morgan Stanley analyst Andrew Percoco asking whether the bottlenecks on Robotaxi/Cybercab were regulatory-driven. Elluswamy responded by outlining some software and operational factors that Tesla is still working on, and concluded, "So it's not purely regulatory or something like that. It is technology-driven, but we do see that pretty quickly becoming regulatory, perhaps in Q1 or Q2 time frames."

In other words, that's the time frame for when v15 FSD should be released, enabling a ramp-up in Robotaxi/Cybercab deployment. This is consistent with what management said earlier.

What it means to investors
The slow rollout of Robotaxi/Cybercabs has no doubt frustrated investors, but it looks like it's on track now and in line with the outlook management provided. Automotive gross margins are a sign of Tesla's competitiveness, and concerns about its capital spending plans should ease after this earnings report.

All told, investors should feel better about their Tesla stock after the report.

Tilray (TLRY -4.10%) isn't just a pot company anymore. In fact, you might argue that it is more of a beer company than a marijuana company at this point. And that could be exceptionally good news for investors, since the company is now more diversified. Here's why Tilray has chosen to go down this path, the key milestone it just achieved, and why it points to a brighter long-term future.

Wall Street loves a good story When Tilray went public, marijuana was all the rage. Pot was increasingly being legalized, and investors believed it would be a huge growth opportunity. Tilray's stock rocketed higher. But it wasn't the only company trying to capitalize on the dynamics in the marijuana sector. A large number of companies jumped in, creating intense competition.

Image source: Getty Images.

And then there was the old competition, illegal sellers, that didn't go away. It turned out to be harder than expected to turn a profit in the marijuana sector. When investors realized that fact, they dumped pot stocks, including Tilray. Today, Tilray's stock price is roughly 99% below its all-time high set shortly after its initial public offering. That said, it has managed to survive and adapt.

Tilray goes down a different road At this point, it is clear that marijuana demand will grow over time. So it isn't a bad business to be in. However, it is also clear that the opportunity isn't as exciting as it seemed at first. This is why Tilray began investing in alcoholic beverages, positioning itself as "a global lifestyle and consumer packaged goods company." Its focus is now spread across beverages, marijuana, and wellness. (Wellness basically means CBD-related products.)

In fiscal 2026, the company made an important acquisition, buying beverage company BrewDog. That has transformed the portfolio, with alcoholic beverages generating $101.5 million in revenue in the first quarter of fiscal 2027, up from $55.7 million in the same quarter of 2026. Marijuana revenues came in at $56.1 million, down from $64.5 million in the first quarter of fiscal 2026. Tilray is an entirely different business today than it was a year ago.

While there is still opportunity for growth in the marijuana sector, the core of the company's business is its beverage operations. That's a far more developed industry and one that is likely to be fairly predictable. In other words, Tilray has created a stronger foundation from which to grow. As an investor, you should probably see that as a very positive shift.

TLRY Tilray Brands$2.81-$0.12 (-4.10%)

NASDAQ · As of 4:00 PM ET 10/23/26

Tilray still has a lot of work to do The growth of the beverage business wasn't the only positive from the fiscal first quarter of 2027. Tilray also reported record revenues and improved its gross margin by three percentage points. Moreover, it reduced debt in the quarter, ending the period with a net cash position (meaning it had more cash than debt on its balance sheet).

There's just one not-so-small problem: Tilray is still bleeding red ink. So while progress is being made from a business perspective, from a profit perspective, the company remains a big investment risk. Clearly, Tilray's long-term goal is to be a sustainable and profitable business. The beverage shift is part of the process of achieving that goal, but only more aggressive growth investors are likely to find the stock interesting at this point.

But even more conservative investors may want to keep Tilray on the watch list. If it does manage to become sustainably profitable, it could be an interesting way to add marijuana exposure to your portfolio without jumping into the still-developing pot sector with both feet.

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The Home Depot's chief information officer told Business Insider that electronic price labels can help delivery workers work more efficiently. Brandon Bell/Getty Images Buying a screwdriver at Home Depot?

Well, you and your next-door neighbor should be paying the same price for the same product on the same day.

Angie Brown, the home improvement retailer's executive vice president and chief information officer, told Business Insider that it's exploring a larger rollout of its electronic shelf labels, or ESLs — the small digital placards that large retailers have been using to replace paper price tags.

When asked if those wireless-updatable tags could introduce dynamic pricing, Brown responded, "Absolutely not."

Instead, The Home Depot uses those tags to accurately inform customers when their store expects the next delivery of a specific product, Brown said.

Home Depot IT chief says its digital price tags won't give consumers different prices

"We love being able to show you on the sign, 'You can get this as soon as the next day,'" she said. "And we want that to be right."

Why those little shelf electronic labels have caused so much worry

An electronic shelf label in a Best Buy.  : Lindsey Nicholson/UCG/Universal Images Group via Getty Images Several major brands — including Walmart, Kroger, Best Buy, and Whole Foods — have rolled out electronic shelf labels in their stores.

Consumers have scrutinized the rollout amid fears that stores could quickly raise prices during busy shopping periods or use customer data to show different prices to separate shoppers.

Some state lawmakers have responded to that anxiety, too. New Jersey passed a yearlong moratorium on new implementation of the tech. Maryland passed legislation requiring grocery stores to keep electronically displayed prices unchanged for a full business day.

Concerns have prompted retailers to get ahead of dynamic pricing concerns: Walmart's CEO, John Furner, for example, wrote a memo in September to customers and employees, explicitly stating that the technology wouldn't be used to adjust prices.

"We don't set different prices based on who you are or the time of day, and we won't," he wrote. "We price the product, not the person."

Target also shared a similar statement this month, saying that the company "does not use personal information to raise prices."

Electronic signs in Home Depot

The Home Depot has been using ESLs for several years. They're common in the appliance section, Brown said.  Mario Tama/Getty Images Home Depot has been testing the technology for years. In its 2020 annual report, the retailer said it had initially used electronic shelf-label capabilities in the appliances section before trying them in additional merchandising departments.

Brown said Home Depot sees the labels as a tool for store operations, not a new pricing strategy.

As stores increasingly double as fulfillment hubs for delivery workers and pickup orders, she said, ESLs can light up to help gig workers and employees quickly locate a product — an update that Walmart rolled out in its stores earlier this month.

She also said the company is not using the technology in its garden department.

There are two important caveats.

First, Home Depot sells several commodities, such as building materials and garden goods. Brown said the ESLs will reflect the individual commodity markets.

Second, Home Depot's Pro customers can receive bulk discounts when they cross purchasing thresholds. Brown said those prices are set by transparent rules, not by a shopper's personal data.

Still, for everyone else walking through a Home Depot aisle, she said, the promise is simpler: The price one customer sees should be the same price another customer sees.

"Those are the use cases we're interested in, not in changing price more often because we have electronic shelf labels," she said. "We've never talked about changing our pricing strategy if we were to roll out ESLs."

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Business Insider tells the innovative stories you want to know

Business Insider tells the innovative stories you want to know

Business Insider tells the innovative stories you want to know

Business Insider tells the innovative stories you want to know

Ben Shimkus You're currently following this author! Click to unsubscribe from email alerts.

Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41. 

If you're looking for meaningful -- and growing -- dividend income, take a look at financial services giant Morgan Stanley (MS -2.44%). Its dividend recently yielded a solid 2.5%, and it's been growing at an impressive clip.

If you invest $1,000 annually in Morgan Stanley stock, you could collect a lot over 20 years.

Image source: Getty Images.

Here's how Morgan Stanley's dividend has grown over time:

Period

Average annual dividend growth rate

Past five years

10.44%

Past 10 years

19.12%

Past 15 years

23.25%

Data source: Calculations by author using data from Yahoo! Finance.

$179.49-$4.48 (-2.44%)

NYSE · As of 4:00 PM ET 10/23/26

How much dividend income will you collect over 20 years, buying $1,000 of Morgan Stanley stock annually? Well, it's hard to say, because:

We can't know exactly what the dividend's growth rate will be over the next 20 years. We can't know the stock's growth rate over the next 20 years, either. As the stock price grows, $1,000 will buy fewer shares. Your results will differ significantly depending on whether you reinvest the dividends received into additional shares of stock. Here's a different way to approach this question -- by looking at the stock's total returns, which reflect dividends received (but not reinvested):

Time Period Average annual gain

One year

20.05%

Three years

39.47%

Five years

15.31%

10 years

20.21%

15 years

18.33%

Data source: Morningstar.com, as of Oct. 21, 2026.

Suppose we estimate that the stock will grow at an average annual rate of 15% over the coming 20 years. If so, investing $1,000 annually will yield a stake worth around $117,800. If the dividend has grown along with the stock price and it still yields 2.5%, the total dividend payment for that 20th year will be around $2,950. So you'll have gone from collecting $25 in one year to nearly $3,000 by year 20. That's the power of patience and compounding!

Long-term income-seeking investors may want to take a closer look at Morgan Stanley.

Selena Maranjian has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Spotify Technology (SPOT +0.10%) not only saw its third-quarter headline net income fall, but it also whiffed on the consensus analyst estimate. Given that, you'd imagine that investors would have reacted by aggressively selling the music streamer's stock. Well, you'd be very wrong.

The opposite occurred on Thursday after the company published its earnings release -- market players couldn't wait to buy its stock, and it handily beat the S&P 500 index, rising nearly 4%. On Friday, it ticked higher. Let's look at the company's numbers and tease out why it scored such a big win from an ostensibly losing quarter.

Image source: The Motley Fool.

Music to their earsSpotify's quarter was headed by a revenue line that hit almost 5 billion euros ($5.6 billion), for robust year-over-year growth of 16%. By far the bulk of the company's top line comes from its premium services; the take from these rose by 17% to nearly 4.5 billion euros ($5 billion). The remainder came from ad-supported offerings, which collectively rose 10% to 482 million euros ($540 million).

Spotify also managed to grow both its total user base and the crucial segment of that population, premium-service subscribers. The company's total monthly active user (MAU) count rose 11% to 788 million, while the premium subscriber tally increased 9% to 306 million.

Attributable net income, however, went in the opposite direction. It fell to 518 million euros ($580 million) from the year-ago profit of 899 million euros ($1 billion). On a per-share basis, the former result was 2.48 euros ($2.78).

While that revenue number was essentially in line with the consensus analyst estimate, Spotify fell short on profitability. Analysts tracking the stock were modeling net income of 2.84 euros ($3.18) for the quarter.

That bottom-line swoon looked ugly on paper, but it wasn't as grim as it appeared. In the third quarter of 2025, the company benefited enormously from significant finance income derived from share, bond, and warrant valuations, which affected the accounting. It also recorded a 72 million euro ($81 million) tax benefit during that period.

Spotify watchers are aware that these items distorted the 2025 frame's profitability, so the year-over-year drop wasn't particularly concerning to them. They were also impressed that the company topped its guidance for operating income, which came in at 672 million euros ($753 million), and notched a new record for gross margin at 33%. And for a stock increasingly evaluated on free cash flow (FCF), the 735 million euros ($823 million) in FCF it generated during the quarter was heartening.

$584.22+$0.56 (+0.10%)

NYSE · As of 4:00 PM ET 10/23/26

Streaming forwardSpotify has an enviably high number of growth opportunities. Management ticked off several major ones, including a major expansion of its relatively recent audiobook business, from the current 22 countries to over 180. Meanwhile, artificial intelligence (AI) is at a relatively early stage of deployment for the company; it plans to harness it to offer subscribers more and increasingly varied custom services -- AI playlists, anyone? -- to enhance the listening and music-curating experiences.

It's confident that this will keep those subscriber and fundamental numbers rising. It proffered guidance for its current (fourth) quarter of 818 million MAUs, which, if achieved, would be nearly 9% higher than in the same period of 2025. It's also counting on a sub-9% increase in premium subscribers (to 316 million). As for key financials, management is expecting another pop in revenue, by almost 15% to 5.2 billion euros ($5.8 billion). Operating income is projected to surge 17% to 820 million euros ($919 million). It did not provide a net income forecast.

I feel that, if anything, Mr. Market's reaction to Spotify's third quarter was muted and conservative. The company has established itself as the clear king of streaming music and, increasingly, other aural entertainment options like audiobooks. I feel it's building quite the imposing moat, which more than justifies the valuations that likely moderated investors' reaction to the earnings release (its forward P/E is approaching 52). Yet this company is becoming ever more powerful, and it clearly aims to tap into the numerous, high-potential growth opportunities before it. I'd be a buyer of this stock, even at its seemingly lofty level.

SummaryRTX Corporation stands out as the top Buy among defense giants, driven by unmatched backlog growth, diversified exposure, and strong aftermarket tailwinds.Defense contractors benefit from multi-year contracts with improved pricing, margin visibility, and government support, fueling willingness to invest in new capacity.RTX’s defense book-to-bill ratio of 4.57x and 36% YoY backlog growth signal unprecedented demand and long-term revenue visibility.While all three—RTX, Lockheed Martin, and Northrop Grumman—are rated Buy, RTX’s commercial mix, pricing power, and GTF turnaround justify its premium valuation.I do much more than just articles at Main Street Alpha: Members get access to model portfolios, regular updates, a chat room, and more. Learn More »Getty Images

Introduction Today is a great day, as I get to cover defense stocks again. And if you have been a follower or subscriber of mine for at least a few months, you know this is a topic I love—for many reasons.

51.98K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of RTX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Berkshire Hathaway (BRKA -0.84%)(BRKB -0.87%) stock is finally back at a record. On Oct. 20, the Class B shares ended at $539.82, inching past a record close from May 2, 2025 -- the day before Warren Buffett told shareholders he planned to hand the CEO job to Greg Abel.

As I write, the shares trade near $548, up about 9% this year.

The new high comes in a year when Berkshire has gone back to buying its own stock. It repurchased nothing in 2025. In the first half of 2026, its buybacks came to around $4.8 billion. And it only buys if its CEO thinks the shares cost less than the business is worth.

But Berkshire paid around $476 to $488 a Class B share in May and June. With the stock at least 12% higher today, is it still a buy?

Image source: Getty Images.

Berkshire bought more as the year went byThe buying started small. In March, Berkshire repurchased around $234 million of stock at an average of about $487 a Class B share, according to its first-quarter 10-Q.

Then it sped up. After a quiet April, Berkshire spent around $740 million on shares in May at an average Class B price of about $476, and about $3.8 billion in June at about $488, for a second-quarter total of about $4.5 billion. And the cover of the second-quarter 10-Q suggests the buying kept going. Berkshire had around 4,550 fewer Class A-equivalent shares outstanding on July 29 than on June 30 (one Class A share equals 1,500 Class B shares).

At the $488 to $512 range where the Class B shares closed in July, these repurchased shares total about $3.4 billion of stock in under a month.

"We will buy back Berkshire shares when they trade below our estimate of intrinsic value, conservatively determined," Abel said in his first annual letter to shareholders in February.

Intrinsic value is Berkshire's term for what the whole business is worth, whatever the stock does day to day. Put another way, every month of buying was Abel saying the shares were cheap at around $476 to $488.

I'd argue these purchases tell Berkshire shareholders more about the stock's value than anything else from the company's filings this year.

A higher price tagAt around $548, the Class B shares cost about 12% more than Berkshire's average price in June and about 15% more than its average in May.

Berkshire reported $747.9 billion in shareholders' equity on June 30, up $30.5 billion from the end of 2025. That's around $348 of book value per Class B share (book value is what's left of a company's assets after subtracting its liabilities). June's average buyback price put Berkshire at about 1.4 times that book value. Today's price is nearly 1.6 times book value.

Of course, book value isn't fixed at its June figure, and more growth in the third quarter might shrink the gap.

Berkshire's third-quarter 10-Q should show how Abel sees that gap, because the filing lists buybacks month by month with the average price paid. The Class B shares closed over $500 on 44 of the 64 trading days from July through September.

If Berkshire kept buying in August and September, that might signal Abel's estimate of value has gone up with the business. If the buying ended, the prices Berkshire paid in May and June could be near the most Abel is willing to pay.

$542.19-$4.78 (-0.87%)

NYSE · As of 4:00 PM ET 10/23/26

Berkshire's earnings are still growingShowing why that estimate might have kept climbing, Berkshire's second-quarter operating earnings (which leave out the swings in its huge stock portfolio) rose 16% year over year, to around $13 billion. That's up from about $11.2 billion a year before and around $11.3 billion in 2026's first quarter. But currency shifts on Berkshire's foreign-currency debt flattered the comparison. They added an after-tax gain of $326 million in this year's second quarter, versus an $877 million loss in the second quarter of 2025. Excluding foreign exchange, operating earnings rose around 5%.

Mid-single-digit growth is still steady progress for a company this big.

Still, should you buy Berkshire stock at a record high?

I think it's worth considering, maybe a little at a time. The businesses keep growing, and Berkshire seems to have been buying its own shares as recently as July. But at almost 1.6 times book value, the stock isn't the bargain Berkshire was buying in June.

The AI boom has created an urgent problem: Data centers need enormous amounts of power, and the electric grid can take years to catch up. That bottleneck has opened the door for power equipment providers like Bloom Energy (BE -11.24%) to become a critical bridge power provider for hyperscalers.

Data center demand has been an incredible tailwind, sending Bloom's stock soaring 2,085% since November 2024. The narrative around Bloom Energy has changed in recent years, as the company transforms from a speculative renewable hydrogen play into a data center power story.

The next five years will determine whether Bloom's incredible growth is durable or simply a temporary surge. Here's what Bloom needs to do to keep winning in the coming years.

$193.30-$24.47 (-11.24%)

NYSE · As of 4:00 PM ET 10/23/26

Bloom Energy secured several major deals in recent years
Over the past several years, Bloom Energy has secured numerous large deals to power utilities and data centers. In November 2024, Bloom signed a landmark deal with American Electric Power for up to 1 gigawatt (GW) of power from its solid-oxide fuel cells (SOFCs). The deal started with a 100 MW order, and earlier this year, American Electric exercised its option for the remainder.

Bloom Energy also has deals with Oracle and Brookfield Asset Management. In April, Bloom expanded on its deal with Oracle to deploy 2.8 GW of fuel cell capacity. Oracle was an early customer that validated Bloom's time-to-power advantage when Bloom delivered its fuel cells well ahead of its 90-day target.

Image source: The Motley Fool.

Meanwhile, Brookfield Asset Management expanded its partnership with Bloom to $25 billion in June, up from their original $5 billion agreement last year.

Bloom Energy will scale manufacturing in the coming years
Next up for Bloom Energy is scaling up manufacturing capacity and delivering on these massive agreements. The company is taking steps to double its near-term run-rate capacity to 2 GW annually, while expanding its industrial footprint. As part of this, Bloom acquired a 158,000-square-foot facility in Fremont, California, to go with its existing 164,000-square-foot plant. 

Long-term, Bloom thinks it can scale up to 5 GW in annual capacity. Bloom is scaling its manufacturing using "copy exact" modular increments. One benefit for Bloom is that its return on investment for capacity expansion comes in a few months, not years, as it often does for traditional industrial manufacturers.

With cash on its balance sheet and external financing, Bloom is well capitalized to fund this expansion. At the end of the second quarter, Bloom had nearly $2.7 billion in cash on its balance sheet. The company is generating $175 million in free cash flow. Finally, Bloom's agreements with Brookfield and Industrial Development Funding help absorb funding risk, allowing it to scale without fears of dilution through equity or debt offerings.

BE Revenue (TTM) data by YCharts

What's next for Bloom Energy
Over the next couple of years, investors will want to see Bloom deliver on its massive hyperscaler deals and prove it can manufacture and deliver solid-oxide fuel cells on time and at scale. Bloom has passed its first test with its initial customers and has proven it can deliver power quickly. Now it's time to scale up and potentially secure even more major deals.

To support this, Bloom is developing and marketing its 800V DC-native energy server platform. This platform will connect DC-native power to DC-native compute, cutting out the middleman and reducing energy waste for hyperscalers. Bloom estimates that this can cut non-computer capital expenditures for a 1 GW data center by $3.6 billion, or 27%.

Bloom will begin deploying early versions of its DC-native platform next year and will expand and retool manufacturing to produce them at scale for data center customers. The Open Compute Project and major semiconductor developers aim to have 800V DC as the default standard by 2028. By 2030, Bloom hopes its energy servers will become the standard for behind-the-meter campuses.

Execution will determine Bloom Energy's future
Bloom Energy has benefited from rising data center power demand, and its backlog stands at $442 million, with management noting that backlog growth is outpacing revenue growth.

However, even after a recent drop, Bloom stock is not cheap, at roughly 40 times forward earnings. This high valuation reflects robust growth, leaving Bloom's stock vulnerable to price volatility. But if it can continue expanding manufacturing capacity, deliver on its massive deals, and generate strong free cash flow, Bloom could deliver strong returns over the next five years.

8.79K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of BTU, EQNR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

There's an easy sales pitch for software that can help organizations run their vehicles and equipment more effectively: Show clients how the product can save time or money. Samsara (IOT +2.60%) does just that, helping to bridge the gap between operational data and software.

Artificial intelligence (AI) can make these tools even more productive, but greater productivity alone doesn't make an investment thesis. For investors looking ahead to 2027, the real question is whether Samsara can turn its potential into fundamental growth that exceeds the expectations embedded in its stock. If it can, it's possible that this under-the-radar stock could soar, perhaps even matching the run of Palantir, a stock that skyrocketed more than 700% during the past five years. Let's dig in and see how realistic that scenario is.

Image source: Getty Images.

What Samsara actually does To understand Samsara's business, we must follow a hypothetical example. Imagine a factory. Tens of thousands of moving parts and hundreds of workers are hard at work, focused on the task at hand. There's one problem: A key piece of equipment is at risk of failure. Worse, this type of failure wouldn't just cause downtime; it could also pose a health and safety risk. Samsara's software is designed to catch these issues before they become critical. It keeps operations running smoothly, saves money, and protects key assets.

The company operates on a "land-and-expand" model. It sells its product platform once, then collects recurring revenue from clients. A key aspect of its business model is upselling -- selling additional modules to existing customers to generate more revenue.

IOT Samsara$44.92+$1.14 (+2.60%)

NYSE · As of 4:00 PM ET 10/23/26

Can 2027 be Samsara's breakout year? As for fundamentals, they've taken off recently. Samsara's revenue has increased from about $250 million in 2021 to more than $1.84 billion during the past 12 months. Free cash flow has also increased, swinging from about $150 million in cash burn in 2023 to $255 million in free cash flow during the past 12 months. What's more, the company recently turned the corner on profitability, generating about $91 million in net income during the past year.

Although these metrics are encouraging, Samsara will need to go further in 2027 for its stock to truly take off. The company recently noted that roughly 96% of its customers with more than $100,000 in annual recurring revenue (ARR) now use at least two of its products, and 70% use three or more. If the company can increase those numbers further while expanding its existing customer base, the stock market could take notice.

Is Samsara's valuation its final hurdle? If one factor is holding Samsara back, it could be its valuation. On a price-to-earnings (P/E) ratio basis, its stock trades at about 290. Granted, that is very high. However, Samsara is a young company that has only recently begun producing consistent profits. Therefore, the "E" (earnings) in the equation remains very modest. Consequently, it may be better to examine Samsara's price-to-sales (P/S) ratio instead.

IOT P/S Ratio data by YCharts.

As you can see, Samsara's P/S ratio tells a more nuanced story. While 13.5 is high compared to much of the stock market, it's still reasonable compared to its past readings. In fact, Samsara stock is currently trading for less than its lifetime average P/S ratio of 16.5. Nevertheless, these valuations underscore that Samsara will need to deliver more profit to lower its P/E multiple to levels that will attract more institutional interest.

Is Samsara a buy now? Samsara is a stock worth considering for growth-oriented investors with a bullish outlook on AI's impact on real-world operations. However, the stock still has challenges. Its margins remain thin, and it lacks a long history of consistent profitability. Therefore, the stock isn't for every investor.

Yet improving fundamentals, led by soaring revenue and free cash flow, point to a key tailwind: Organizations are beginning to view AI tools as a recurring operating expense. That bodes well for Samsara. Investors willing to buy and hold the stock could be rewarded in the long run, perhaps as soon as 2027.

Elon Musk just promised millions of people a gift. On Monday, the co-founder and CEO of Tesla (TSLA -0.63%) and Space Exploration Technologies (SPCX +1.89%) wrote in a post at X -- the social media platform formerly known as Twitter -- "Next year, I will give one of my SpaceX shares to every kid in America." He then added, "This will be the first of many."

It sounds good, particularly if you're one of those children about to receive the gift. But what will it cost, and who pays other than Musk?

Musk didn't add any other details. We can, however, make some reasonable assumptions about how this will work.

More than enough already in hand
Musk doesn't need to dilute existing shareholders by issuing new shares of SPCX to make good on his gift. Musk himself effectively controls or personally owns 6.4 billion A shares of the recently public company, in addition to 3.9 billion B shares. There's another 1.3 billion restricted B shares that could soon become his as well, plus 350 million more that he could purchase if he chooses to exercise his options.

For comparison, there are currently just over 72 million children under the age of 18 residing in the United States, according to The Annie E. Casey Foundation. Assuming Musk is using the same standard about who qualifies as a kid, he could give away a mere 1.8% of the 3.9 billion B shares he already owns and still fulfill his promise.

SpaceX and Tesla CEO Elon Musk. Image source: The White House.

His total net cost? At today's price, that's roughly $12 billion worth of SPCX stock, which, of course, is only a fraction of his estimated net worth of right around $1 trillion right now.

And it's almost certainly SpaceX's B shares that Musk intends to give away. Although he personally owns just a little less than half of the company, the A shares' voting power is 10 times that of B shares, effectively giving Musk 85% control of Space Exploration Technologies. He's not apt to give any of that up.

Barely a blip
As for what it means to every other SPCX shareholder, the answer is not a lot... at least not initially. Musk can personally afford to fund the entirety of this gift. No dilution is necessary. 

Longer-term, though, there is a slight conceivable impact. This will put a single share of SpaceX stock in 72 million different investors' hands, with little clarity as to how or even whether selling it will be restricted. Hopefully, most of these recipients will hang onto it indefinitely and use it as a seed for a retirement nest egg. Many of them will likely sell it at their first opportunity, however.

Fortunately, nearly 100 million shares of SPCX trade hands every single day. The market should be able to absorb such a disruption without too much turmoil.

Amazon (AMZN -0.95%) has been a poor stock to own recently. While it rose following its Q2 earnings release, the stock has slowly sold off since then and is now up about 8% for the year, trailing the S&P 500 (^GSPC -0.52%). However, I think this could all turn around once again after Oct. 29, when Amazon reports Q3 earnings.

The reason is fairly clear, and investors have already seen it cause Amazon's price tag to spike once already this year: cloud computing growth.

Image source: The Motley Fool.

Amazon is the industry leader in cloud computing
Amazon may not be the first name you think of when discussing huge tech companies, but it should be high on the list. While most consumers are familiar with Amazon's commerce site and delivery platform, Amazon Web Services (AWS) really steers the business. In fact, AWS -- which supplies cloud computing -- accounted for 60% of Amazon's operating income in Q2, despite making up only 21% of revenue.

How? AWS's operating margins are far superior to those of its commerce business, which is a notoriously razor-thin-margin industry.

While commerce still affects Amazon's investment picture, investors must realize that Amazon doesn't care much about it right now. Amazon is spending about $220 billion this year to expand its computing infrastructure and fuel AWS growth. It seems content with its current dominance in commerce and sees a major opportunity in cloud computing right now, thanks to booming demand for running AI workloads.

AMZN Amazon$248.00-$2.38 (-0.95%)

NASDAQ · As of 4:00 PM ET 10/23/26

These investments have so far paid off, as AWS's growth rate has significantly climbed over the past few quarters. Rewinding to Q4 2025, AWS's growth was 24% year over year. Then it accelerated to 28% in Q1 2026. Amazon surprised investors by reporting impressive 37% growth in Q2, which caused shares to skyrocket earlier this year before eventually selling off.

If Amazon continues to meaningfully accelerate its AWS growth rate, say to the mid-40% range, it could ignite another run-up in stock price, as it would have a positive effect on Amazon's operating margins. This, in turn, will cause earnings per share to rise faster, which the market will love.

If it can do that, Amazon's stock should be primed to rise, because it's actually pretty reasonably valued right now, at least compared to historical levels.

Amazon's stock isn't that expensive
Valuing Amazon's stock is a bit tricky. While the price-to-earnings (P/E) ratio is the gold standard for valuing stocks like Amazon, it's currently not applicable.

Amazon has been a major investor in private company Anthropic, whose valuation has risen substantially over the past year. Accounting rules require Amazon to report these investment gains as profits, even if it hasn't sold them yet. So, Amazon has a lot of profits on paper, but not as many in real life.

To adjust for this, I value Amazon on its operating income, which is one line item above net income. This metric doesn't account for gains on investment, taxes, depreciation, or other factors that could skew the results. It's just how the business itself is doing. From this standpoint, Amazon's price-to-operating-income ratio has declined substantially over the past few years.

AMZN Operating PE Ratio data by YCharts

While it has been slightly cheaper a handful of times this year, it is still pretty reasonably valued. I think now is the perfect time to load up on shares, as its valuation could increase following strong Q3 results likely be highlighted by impressive AWS growth.

I'm bullish on Amazon's future, and AWS will be the division that takes it to the next level as an investment.

Most of the attention on Berkshire Hathaway (BRKA -0.84%) (BRKB -0.87%) owes to its impressive investment portfolio. But Berkshire Hathaway stock is also worth watching on its own, and its shares did something this month that it hasn't accomplished in eight years.

The conglomerate, now led by Greg Abel after the retirement of its longtime leader, Warren Buffett, saw its Class B shares close higher for 10 consecutive trading sessions from Oct. 1 through Oct. 14. Berkshire's stock rose from about $498 to $526.

Berkshire snapped the streak on Oct. 15, but the stock is on another run higher, recently topping $547 and beating the record close of $539.89 set in May 2025.

Obviously, it's a great time to be a Berkshire Hathaway investor. But let's also look at the bigger picture about what happens when Berkshire stock goes on a 10-day winning run. This has happened only six other times since 1998 -- and in four of those six instances, the shares were trading higher 12 months later.

Does that mean investors should buy Berkshire stock today? History offers some encouragement, but there's a much stronger argument for owning Berkshire than its recent winning streak.

Image source: Getty Images.

What does a Berkshire winning streak mean?
Berkshire's earlier streaks of at least 10 consecutive higher closes occurred in 1998, 2003, 2014, twice in 2017, and in January 2018.

The longest came in August 2017, when the shares advanced for 15 consecutive sessions. Berkshire also recorded another extended winning streak in March of that year.

Let's be clear -- although it's a bullish signal that Berkshire posted 12-month gains on four separate occasions after those 10-day runs, that doesn't guarantee that the stock will be higher one year from now. After all, six previous occurrences are a small sample size.

The historical results suggest that an extended winning streak isn't automatically a warning that investors have missed their opportunity. But a 67% success rate doesn't establish that Berkshire has a two-thirds chance of rising during the next year.

Fortunately, investors have something more useful than historical trading patterns to help them make that decision.

$542.19-$4.78 (-0.87%)

NYSE · As of 4:00 PM ET 10/23/26

Berkshire has plenty going for it
One of the biggest questions surrounding Berkshire entering 2026 was how the company would perform after Buffett's retirement as chief executive officer.

So far, Abel has demonstrated that he's willing to put Berkshire's enormous financial resources to work.

Berkshire doubled down on its position in Alphabet, the parent company of Google, while also adding to positions in companies such as Delta Air Lines. The company has also resumed substantial share repurchases, buying back about $4.4 billion of its own stock.

The buybacks are a signal to investors -- Berkshire has always been cautious about buying its own stock and has a stated philosophy of buying only when the stock is trading below its intrinsic value.

Of course, a buyback isn't proof that Berkshire shares are undervalued today, particularly after their recent advance. But it's an encouraging indication of management's willingness to deploy capital when opportunities arise.

And Berkshire still has considerable financial flexibility. Its cash reserves provide ample flexibility for Abel to make acquisitions, invest in more companies, or buy back more of the company's own shares.

Meanwhile, Berkshire's collection of operating businesses, including insurance, railroads, utilities, and manufacturing operations, gives investors exposure to several important parts of the economy without having to purchase individual stocks.

That's a compelling combination for long-term investors.

Is Berkshire Hathaway stock a buy now?
There's another reason I like Berkshire that has little to do with its October winning streak.

Historically, Berkshire has demonstrated an ability to hold up relatively well during difficult markets. In fact, Berkshire outperformed the S&P 500 in 11 of the 13 calendar years when the index posted a negative return.

That doesn't mean Berkshire is immune to market declines. But its diversified businesses, financial resources, and disciplined approach to investing can make it an attractive long-term holding.

And that's where the historical winning-streak data becomes less important.

Berkshire's 10 consecutive gains this month -- or in any year -- don't guarantee positive returns 12 months from now, particularly with the shares trading at a record high. Investors buying today also need to recognize that a strong business isn't automatically an attractive investment at any price.

But I remain bullish on Berkshire's long-term prospects under Abel. The company's financial strength, diverse operations, and renewed willingness to deploy capital provide several avenues to reward shareholders over time.

The October winning streak may have caught Wall Street's attention. For long-term investors, though, Berkshire's underlying business is a much better reason to own the stock.

Nvidia (NVDA -0.59%) and Micron (MU +2.46%) each have been playing key roles in the artificial intelligence (AI) revolution. Nvidia is the maker of the logic chip that powers the "thinking" of AI models, while Micron makes the memory and storage solutions that are also essential in the training and use of AI.

Investors have recognized the importance of these companies and their products and have piled into their shares. Nvidia's gains started earlier than those of Micron, back in 2023, and have accelerated over the past two years. Micron climbed somewhat back then but truly took off this year. Over the past five years, Nvidia has advanced more than 800%, while Micron has soared 1,200%.

The AI revolution is big enough for both of these market titans -- but which is the better buy? Let's find out.

Image source: Getty Images.

Nvidia dominates the AI chip market, selling the graphics processing units (GPUs) that power unavoidable tasks such as the training and inference of models. The company isn't alone in the market, but it is the leader thanks to its early entry, the speed of its GPUs, and its commitment to innovation to remain ahead of rivals.

All of this has translated into eye-popping earnings growth over the past few years. Nvidia's revenue and profit have marched higher, climbing in the double and triple digits to record levels. In the latest period, for example, revenue soared 106% to $96 billion, while net income jumped 126% to $59 billion.

Though Nvidia is best known for its GPUs, the company's work doesn't stop here. It has created complete systems, including networking tools and enterprise software, and developed platforms to serve specific industries like healthcare and robotics. The tech giant has also been growing its presence through acquisitions as we can see through its plan to buy open-source AI platform Hugging Face.

As the AI focus transitions from the training of models to widespread use of AI in the real world, Nvidia is well positioned to benefit and continue delivering solid revenue gains.

NVDA Nvidia$210.96-$1.25 (-0.59%)

NASDAQ · As of 4:00 PM ET 10/23/26

The case for Micron
Micron has served the AI market in its early days, for the training of models, but the greater revenue opportunity is happening now and may continue well into the future. As mentioned, the company makes the memory and storage needed for various AI tasks.

And the current and future major revenue opportunity lies in the area of agentic AI. This involves AI taking on a problem and going through various steps to solve it. And for this, memory is needed on an ongoing basis, representing significant and lasting growth for Micron. This is why, with the market moving toward agentic AI, Micron's earnings and stock price have surged.

In the latest quarter, the company reported a revenue increase of more than 370%, and with memory supply tight, Micron has developed strategic customer agreements or multi-year supply contracts. This move secures supply for customers into the future and offers Micron and its shareholders greater visibility into revenue to come. So these agreements are positive for all involved.

Considering we're in the early stages of the use of AI in the real world, Micron's revenue could continue to march higher in the quarters to come.

MU Micron Technology$877.55+$21.06 (+2.46%)

NASDAQ · As of 4:00 PM ET 10/23/26

Which stock is the better buy?
Nvidia and Micron are both important players in the AI revolution. And today, each of these stocks looks reasonably priced.

NVDA PE Ratio (Forward) data by YCharts

But the better buy today is Nvidia. Here's why. Micron should continue to generate growth, but it is more vulnerable to a potential decline in prices once memory supply normalizes over the next couple of years. And this could weigh on growth. The memory market is cyclical, shifting from periods of tight supply to oversupply -- and an eventual time of high supply is likely to slow or halt Micron's momentum.

Nvidia, due to its broad presence across the AI industry and range of products and services, might better navigate potential headwinds -- and feel less pressure on earnings and stock performance. The company's market isn't cyclical, which means greater stability in revenue over time. All of this means Nvidia is the best stock to add to your AI portfolio right now.

Longer-term data reflecting nearly 4 years of follow-up show a further reduction in the risk of death from 14% to 37% for those initially treated with Libtayo, despite an 88% crossover from the placebo arm upon recurrence 

New prospective analyses confirm sustained disease-free survival (DFS) benefit with adjuvant Libtayo, including in patients who are minimal residual disease (MRD) negative at baseline

The late-breaking data were presented during a rapid oral session at the European Society for Medical Oncology (ESMO) 2026 Meeting

TARRYTOWN, N.Y., Oct. 25, 2026 (GLOBE NEWSWIRE) -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced longer-term data reflecting nearly four years of follow-up from the Phase 3 C-POST trial evaluating PD-1 inhibitor Libtayo® (cemiplimab) as adjuvant treatment for patients with cutaneous squamous cell carcinoma (CSCC) at a high risk of recurrence after surgery and radiation. The late-breaking results were presented in a rapid oral session at the European Society for Medical Oncology (ESMO) Congress 2026.

“As the Phase 3 C-POST trial data continue to mature, we are seeing an evolving and clinically meaningful overall survival benefit with adjuvant Libtayo in high-risk cutaneous squamous cell carcinoma, as well as sustained disease-free survival benefit regardless of whether minimal residual disease is detectable at baseline,” said Danny Rischin, M.D., M.B.B.S., F.R.A.C.P., Research Lead, Head and Neck Cancer and Cutaneous SCC, Department of Medical Oncology at the Peter MacCallum Cancer Centre in Melbourne, Australia, and lead investigator of the trial. "These data provide compelling evidence of the long-term, durable benefit of adjuvant treatment with Libtayo in high-risk CSCC after surgery and radiation, further supporting Libtayo as a transformative standard of care for these patients."

With a median follow-up of 44 months, efficacy results for Libtayo compared to placebo showed sustained benefits for the primary endpoint of disease-free survival (DFS), and notably, an increasing overall survival (OS) benefit, a secondary endpoint. Specifically, there was a 37% reduction in the risk of death (hazard ratio [HR]: 0.63; 95% confidence interval [CI]: 0.36-1.11) at a median follow up of 44 months, up from 22% at a median follow up of 30 months (HR: 0.78; 95% CI: 0.39-1.56) and 14% at a median follow up of 24 months (HR: 0.86; 95% CI: 0.39-1.90). Notably, patients randomized to placebo were able to cross over to Libtayo after recurrence, and 61 of 69 placebo patients (88%) with recurrence received subsequent Libtayo. The emerging OS benefit, despite the high crossover rate, therefore supports treating high-risk patients with Libtayo after surgery and radiation, rather than waiting for their disease to recur.

Additionally, an exploratory analysis of patients with baseline circulating tumor DNA (ctDNA) data (Libtayo n=93; placebo n=98) was conducted. Compared to placebo, treatment with adjuvant Libtayo improved DFS regardless of baseline minimal residual disease (MRD) status, supporting the broad clinical utility of adjuvant Libtayo in high-risk CSCC. In particular, patients who were MRD negative at baseline – and thus had lower risk of recurrence – still had improved DFS with Libtayo (HR: 0.45; 95% CI: 0.22-0.95); patients who were MRD positive at baseline also had improved DFS with Libtayo (HR: 0.24; 95% CI: 0.07-0.86).

Safety results remained consistent with previously reported data. Treatment emergent adverse events (TEAEs) of any grade occurred in 94% of patients in the Libtayo arm and 91% of patients in the placebo arm. Grade ≥3 TEAEs occurred in 26% of patients (Libtayo) and 17% of patients (placebo). Treatment discontinuations due to TEAEs occurred in 10% of patients (Libtayo) and 3% of patients (placebo). TEAEs leading to death occurred in 2% of patients in each arm.

The longer-term C-POST data at ESMO expand on results shared at the 2025 ASCO Annual Meeting and simultaneously published in the New England Journal of Medicine. Libtayo has since been approved by the U.S. Food and Drug Administration (October 2025) and the European Commission (November 2025) as the first and only immunotherapy for this indication.

About the Phase 3 Trial
C-POST was a randomized, placebo-controlled, double-blind, multicenter, global Phase 3 trial investigating Libtayo versus placebo as adjuvant treatment for patients with features associated with a high-risk of CSCC recurrence and who had completed surgery and post-operative radiation therapy. Trial participants were at high risk of recurrence due to nodal features (extracapsular extension or ≥3 involved lymph nodes) and/or non-nodal features (in-transit metastases, T4 lesion, perineural invasion, or locally recurrent tumor with ≥1 additional poor prognostic features).

The trial enrolled 415 patients who were randomized to receive either Libtayo (n=209) or placebo (n=206) for up to 48 weeks. For the first 12 weeks, Libtayo 350 mg or placebo was administered intravenously every three weeks, followed by Libtayo 700 mg or placebo administered intravenously every six weeks for 36 weeks. After disease recurrence, patients randomized to placebo could cross over to receive Libtayo, and patients randomized to Libtayo could receive Libtayo again, if recurrence was ≥3 months since the last dose of adjuvant Libtayo.

About Regeneron in Cancer
We aspire to turn revolutionary discoveries into medicines that can transform the lives of those impacted by cancer. Our team around the world is driven to solve the needs and challenges of those affected by one of the most serious diseases of our time.

Backed by our legacy of scientific innovation and a deep understanding of biology, genetics and the immune system, we’re pursuing potential therapies across more than 30 types of solid tumors and blood cancers. Our cancer strategy is powered by cutting-edge technologies and therapies that can be flexibly combined to investigate potentially transformative treatments for patients. Oncology assets in clinical development comprise nearly half of Regeneron’s pipeline, and include checkpoint inhibitors, bispecific antibodies and costimulatory bispecific antibodies. Our approved PD-1 inhibitor Libtayo serves as the backbone of many of our investigational combinations.

To complement our extensive in-house capabilities, we collaborate with patients, healthcare providers, governments, biopharma companies and each other to further our shared goals. Together, we are united in the mission to serve as a beacon of transformation in cancer care.

About Libtayo
Libtayo is a fully human monoclonal antibody targeting the immune checkpoint receptor PD-1 on T cells and was invented using Regeneron's proprietary VelocImmune® technology. By binding to PD-1, Libtayo has been shown to block cancer cells from using the PD-1 pathway to suppress T-cell activation. Libtayo has been approved by regulatory authorities in more than 30 countries in one or more indications, including for certain adult patients with advanced basal cell carcinoma (BCC), CSCC that is advanced or at high risk of recurrence, advanced non-small cell lung cancer (NSCLC) and advanced cervical cancer.

In the U.S., the generic name for Libtayo in its approved indications is cemiplimab-rwlc, with rwlc as the suffix designated in accordance with Nonproprietary Naming of Biological Products Guidance for Industry issued by the U.S. FDA. Outside of the U.S., the generic name of Libtayo in its approved indications is cemiplimab.  

The extensive clinical program for Libtayo is focused on difficult-to-treat cancers. Libtayo is currently being investigated in trials as a monotherapy, as well as in combination with either conventional or novel therapeutic approaches for other solid tumors. These potential uses are investigational, and their safety and efficacy have not been evaluated by any regulatory authority.

U.S. FDA-approved Indications
Libtayo is a prescription medicine used to treat:

Adults with a type of skin cancer called cutaneous squamous cell carcinoma (CSCC): that has spread or cannot be cured by surgery or radiation, orto help prevent CSCC from coming back if your CSCC is at high risk of coming back after it has been removed by surgery and radiation. Adults with a type of skin cancer called basal cell carcinoma (BCC) when your BCC cannot be removed by surgery (locally advanced BCC) or when it has spread (metastatic BCC) and have received treatment with a hedgehog pathway inhibitor (HHI), or cannot receive treatment with a HHI.Adults with a type of lung cancer called non-small cell lung cancer (NSCLC). LIBTAYO may be used in combination with chemotherapy that contains a platinum medicine as your first treatment when your lung cancer has not spread outside your chest (locally advanced lung cancer) and you cannot have surgery or chemotherapy with radiation, or your lung cancer has spread to other areas of your body (metastatic lung cancer), and your tumor does not have an abnormal “EGFR,” “ALK,” or “ROS1” gene.LIBTAYO may be used alone as your first treatment when your lung cancer has not spread outside your chest (locally advanced lung cancer) and you cannot have surgery or chemotherapy with radiation, or your lung cancer has spread to other areas of your body (metastatic lung cancer), and your tumor tests positive for high “PD-L1,” and your tumor does not have an abnormal “EGFR,” “ALK,” or “ROS1” gene.
It is not known if Libtayo is safe and effective in children.

IMPORTANT SAFETY INFORMATION FOR U.S. PATIENTS

What is the most important information I should know about LIBTAYO?
LIBTAYO is a medicine that may treat certain cancers by working with your immune system. LIBTAYO can cause your immune system to attack normal organs and tissues in any area of your body and can affect the way they work. These problems can sometimes become severe or life-threatening and can lead to death. You can have more than one of these problems at the same time. These problems may happen anytime during treatment or even after your treatment has ended.

Call or see your healthcare provider right away if you develop any new or worsening signs or symptoms, including:

Lung problems: cough, shortness of breath, or chest painIntestinal problems: diarrhea (loose stools) or more frequent bowel movements than usual, stools that are black, tarry, sticky or have blood or mucus, or severe stomach-area (abdomen) pain or tendernessLiver problems: yellowing of your skin or the whites of your eyes, severe nausea or vomiting, pain on the right side of your stomach-area (abdomen), dark urine (tea colored), or bleeding or bruising more easily than normalHormone gland problems: headache that will not go away or unusual headaches, eye sensitivity to light, eye problems, rapid heartbeat, increased sweating, extreme tiredness, weight gain or weight loss, feeling more hungry or thirsty than usual, urinating more often than usual, hair loss, feeling cold, constipation, your voice gets deeper, dizziness or fainting, or changes in mood or behavior, such as decreased sex drive, irritability, or forgetfulnessKidney problems: decrease in your amount of urine, blood in your urine, swelling of your ankles, or loss of appetiteSkin problems: rash, itching, skin blistering or peeling, painful sores or ulcers in mouth or nose, throat, or genital area, fever or flu-like symptoms, or swollen lymph nodesProblems can also happen in other organs and tissues. These are not all of the signs and symptoms of immune system problems that can happen with LIBTAYO. Call or see your healthcare provider right away for any new or worsening signs or symptoms, which may include: chest pain, irregular heartbeat, shortness of breath or swelling of ankles, confusion, sleepiness, memory problems, changes in mood or behavior, stiff neck, balance problems, tingling or numbness of the arms or legs, double vision, blurry vision, sensitivity to light, eye pain, changes in eyesight, persistent or severe muscle pain or weakness, muscle cramps, low red blood cells, or bruisingInfusion reactions that can sometimes be severe or life-threatening. Signs and symptoms of infusion reactions may include: nausea, vomiting, chills or shaking, itching or rash, flushing, shortness of breath or wheezing, dizziness, feel like passing out, fever, back or neck pain, or facial swellingRejection of a transplanted organ or tissue. Your healthcare provider should tell you what signs and symptoms you should report and monitor you, depending on the type of organ or tissue transplant that you have hadComplications, including graft-versus-host disease (GVHD), in people who have received a bone marrow (stem cell) transplant that uses donor stem cells (allogeneic). These complications can be serious and can lead to death. These complications may happen if you underwent transplantation either before or after being treated with LIBTAYO. Your healthcare provider will monitor you for these complications Getting medical treatment right away may help keep these problems from becoming more serious. Your healthcare provider will check you for these problems during your treatment with LIBTAYO. Your healthcare provider may treat you with corticosteroid or hormone replacement medicines. Your healthcare provider may also need to delay or completely stop treatment with LIBTAYO if you have severe side effects.

Before you receive LIBTAYO, tell your healthcare provider about all your medical conditions, including if you:

have immune system problems such as Crohn’s disease, ulcerative colitis, or lupushave received an organ or tissue transplant, including corneal transplanthave received or plan to receive a stem cell transplant that uses donor stem cells (allogeneic)have received radiation treatment to your chest areahave a condition that affects your nervous system, such as myasthenia gravis or Guillain-Barré syndromeare pregnant or plan to become pregnant. LIBTAYO can harm your unborn baby Females who are able to become pregnant:

Your healthcare provider will give you a pregnancy test before you start treatmentYou should use an effective method of birth control during your treatment and for at least 4 months after your last dose of LIBTAYO. Talk to your healthcare provider about birth control methods that you can use during this timeTell your healthcare provider right away if you become pregnant or think you may be pregnant during treatment with LIBTAYO are breastfeeding or plan to breastfeed. It is not known if LIBTAYO passes into your breast milk. Do not breastfeed during treatment and for at least 4 months after the last dose of LIBTAYO Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements.

The most common side effects of LIBTAYO when used alone to treat CSCC that has spread or cannot be cured by surgery or radiation, BCC or NSCLC include tiredness, muscle or bone pain, rash, diarrhea, and low levels of red blood cells (anemia).

The most common side effects of LIBTAYO when used alone to help prevent CSCC from coming back include rash and itching.

The most common side effects of LIBTAYO when used in combination with platinum-containing chemotherapy to treat NSCLC include hair loss, muscle or bone pain, nausea, tiredness, numbness, pain, tingling, or burning in your hands or feet, and decreased appetite.

These are not all the possible side effects of LIBTAYO. Call your doctor for medical advice about side effects. You may report side effects to FDA at 1-800-FDA-1088. You may also report side effects to Regeneron Pharmaceuticals at 1-877-542-8296.

Please see full Prescribing Information, including Medication Guide.  

About Regeneron's VelocImmune Technology
Regeneron's VelocImmune technology utilizes a proprietary genetically engineered mouse platform endowed with a genetically humanized immune system to produce optimized fully human antibodies. When Regeneron's Co-Founder, President and Chief Scientific Officer George D. Yancopoulos was a graduate student with his mentor Frederick W. Alt in 1985, they were the first to envision making such a genetically humanized mouse, and Regeneron has spent decades inventing and developing VelocImmune and related VelociSuite® technologies. Dr. Yancopoulos and his team have used VelocImmune technology to create a substantial proportion of all original, FDA-approved or authorized fully human monoclonal antibodies. This includes Dupixent® (dupilumab), Libtayo, Praluent® (alirocumab), Kevzara® (sarilumab), Evkeeza® (evinacumab-dgnb), Inmazeb® (atoltivimab, maftivimab and odesivimab-ebgn), Veopoz® (pozelimab-bbfg) and Pasatru™ (garetosmab-grts). In addition, REGEN-COV® (casirivimab and imdevimab) had been authorized by the FDA during the COVID-19 pandemic until 2024. A total of 11 antibody and bispecific products have been approved or authorized worldwide that were invented or derived using VelocImmune technologies.

About Regeneron 
Regeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases, and rare diseases.

Regeneron pushes the boundaries of scientific discovery and accelerates drug development using our proprietary technologies, such as VelociSuite®, which produces optimized fully human antibodies and new classes of bispecific antibodies. We are shaping the next frontier of medicine with data-powered insights from the Regeneron Genetics Center® and pioneering genetic medicine platforms, enabling us to identify innovative targets and complementary approaches to potentially treat or cure diseases.

For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.

Forward-Looking Statements and Use of Digital Media
This press release includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”), and actual events or results may differ materially from these forward-looking statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, the nature, timing, and possible success and therapeutic applications of products marketed or otherwise commercialized by Regeneron and/or its collaborators or licensees (collectively, “Regeneron’s Products”) and product candidates being developed by Regeneron and/or its collaborators or licensees (collectively, “Regeneron’s Product Candidates”) and research and clinical programs now underway or planned, including without limitation Libtayo® (cemiplimab) as adjuvant treatment for patients with cutaneous squamous cell carcinoma at a high risk of recurrence after surgery and radiation; uncertainty of the utilization, market acceptance, and/or commercial success of Regeneron’s Products (such as Libtayo) and Regeneron’s Product Candidates and the impact of studies (whether conducted by Regeneron or others and whether mandated or voluntary), including the studies discussed or referenced in this press release, on any of the foregoing; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Regeneron’s Product Candidates and new indications for Regeneron’s Products; the ability of Regeneron’s collaborators, licensees, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labeling, distribution, and other steps related to Regeneron’s Products and Regeneron’s Product Candidates; the ability of Regeneron to manage supply chains for multiple products and product candidates and risks associated with tariffs and other trade restrictions; safety issues resulting from the administration of Regeneron’s Products (such as Libtayo) and Regeneron’s Product Candidates in patients, including serious complications or side effects in connection with the use of Regeneron’s Products and Regeneron’s Product Candidates in clinical trials; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron’s ability to continue to develop or commercialize Regeneron’s Products and Regeneron’s Product Candidates; ongoing regulatory obligations and oversight impacting Regeneron’s Products, research and clinical programs, and business, including those relating to patient privacy; the availability and extent of reimbursement or copay assistance for Regeneron’s Products from third-party payors and other third parties, including private payor healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; coverage and reimbursement determinations by such payors and other third parties and new policies and procedures adopted by such payors and other third parties; changes to drug pricing regulations and requirements and Regeneron’s pricing strategy, including in connection with Regeneron’s April 2026 agreements with the U.S. government; other changes in laws, regulations, and policies affecting the healthcare industry; competing products and product candidates (including biosimilar products) that may be superior to, or more cost effective than, Regeneron’s Products and Regeneron’s Product Candidates; the extent to which the results from the research and development programs conducted by Regeneron and/or its collaborators or licensees may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; unanticipated expenses; the costs of developing, producing, and selling products; the ability of Regeneron to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license, collaboration, or supply agreement, including Regeneron’s agreements with Sanofi and Bayer (or their respective affiliated companies, as applicable), to be cancelled or terminated; the impact of public health outbreaks, epidemics, or pandemics on Regeneron's business; and risks associated with litigation and other proceedings and government investigations relating to the Company and/or its operations (including the pending civil proceedings initiated or joined by the U.S. Department of Justice and the U.S. Attorney's Office for the District of Massachusetts), risks associated with intellectual property of other parties and pending or future litigation relating thereto (including without limitation the patent litigation and other related proceedings relating to EYLEA® (aflibercept) Injection), the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on Regeneron’s business, prospects, operating results, and financial condition. A more complete description of these and other material risks can be found in Regeneron’s filings with the U.S. Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2025 and its Form 10-Q for the quarterly period ended June 30, 2026. Any forward-looking statements are made based on management’s current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update (publicly or otherwise) any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise.

Regeneron uses its media and investor relations website and social media outlets to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Regeneron is routinely posted and is accessible on Regeneron's media and investor relations website (https://investor.regeneron.com) and its LinkedIn page (https://www.linkedin.com/company/regeneron-pharmaceuticals).

Pumitamig plus docetaxel demonstrated encouraging responses in squamous and non-squamous non-small cell lung cancer across PD-L1 expression levels with a confirmed objective response rate of 36.7% following progression on or after immunotherapy plus chemotherapyAn early median progression-free survival of 6.9 months was observedSignificant unmet need remains for patients who have progressed on an immunotherapy-containing regimen, with the average progression-free survival below 4 months for standard of care docetaxel Data represent the third global Phase 2 dataset for pumitamig in lung cancer and reinforce its potential to improve outcomes over current standards of care  MAINZ, Germany, and PRINCETON, USA, October 25, 2026 – BioNTech SE (Nasdaq: BNTX, “BioNTech”) and Bristol Myers Squibb Company (NYSE: BMY, “BMS”) today announced first data from the global Phase 2 ROSETTA Lung-107 clinical trial (NCT06841055) evaluating pumitamig, an investigational PD-L1xVEGF-A bispecific immunomodulator (BNT327/BMS986545), in combination with docetaxel in patients with metastatic non-small cell lung cancer (“NSCLC”) whose disease progressed on or after first-line immunotherapy plus chemotherapy.

The data showed encouraging antitumor activity, with responses observed in both squamous and non-squamous NSCLC and across PD-L1 expression levels, together with a manageable safety profile consistent with prior global datasets for pumitamig. The data were presented today in a late-breaking rapid oral presentation (abstract #LBA76) at the European Society for Medical Oncology (“ESMO”) Congress 2026 in Madrid, Spain.

“Despite meaningful advances in first-line treatment, outcomes remain poor for the many patients with non-small cell lung cancer whose disease progresses after immunotherapy plus chemotherapy, a setting where docetaxel has remained the standard of care for years,”1 said Byoung Chul Cho, M.D., Ph.D., Trial Investigator and Professor of Medical Oncology at Yonsei Cancer Center, Yonsei University College of Medicine, Seoul, Republic of Korea. “These first data from ROSETTA Lung-107 show encouraging response rates and progression-free survival across PD-L1 expression levels and histology, suggesting that pumitamig may help re-engage antitumor immunity in patients who have progressed on prior immunotherapy plus chemotherapy. These findings support continued investigation of pumitamig in this population with high unmet need.”

ROSETTA Lung-107 is evaluating pumitamig 1400 mg in combination with docetaxel every three weeks. The July 10, 2026, data cut-off included 50 patients with a median follow-up of 12.2 weeks, and 33 patients remained on treatment. Among 30 efficacy-evaluable patients, pumitamig plus docetaxel showed a confirmed objective response rate (“cORR”) of 36.7% with a disease control rate (“DCR”) of 90.0%. Responses were observed across PD-L1 expression levels (cORR: 42.9% TPS ˂ 1%; 33.3% TPS 1–49%; 40.0% TPS ≥ 50%) and histologies (cORR: 57.1% squamous; 30.4% non-squamous), with DCRs above 80% in all subgroups. Median time to response was 1.4 months. In the overall treated population (n=50), median progression-free survival (“PFS”) was 6.9 months (95% CI: 4.2 – not reached), with a six-month PFS rate of 63.3%. Historically, standard-of-care docetaxel has delivered a median PFS of approximately 3.6 or 3.9 months for non-squamous and squamous metastatic NSCLC patients, respectively, following prior immunotherapy plus chemotherapy.1

“Our ambition is to improve outcomes for patients across the full spectrum of lung cancer, spanning disease subtypes, stages and lines of therapy,” said Prof. Özlem Türeci, M.D., Co-Founder and Chief Medical Officer at BioNTech. “These encouraging results for pumitamig plus docetaxel extend the clinical evidence to patients whose disease has progressed after immunotherapy plus chemotherapy, a setting in which treatment options remain limited. Together with our findings in first-line NSCLC and extensive-stage small cell lung cancer, they support our strategy to develop pumitamig across a broad range of lung cancer settings, including those with particularly high unmet medical need.”

“This is the third global Phase 2 dataset to show consistent activity for pumitamig in lung cancer across PD-L1 expression levels, and it extends our evidence into a second-line setting where current options fall short,” said Cristian Massacesi, Executive Vice President, Chief Medical Officer and Head of Development at Bristol Myers Squibb. “Together with BioNTech, we are advancing one of the broadest development programs in the class as we continue to build the growing body of clinical evidence for pumitamig across multiple types and treatment lines of lung cancer, with four ongoing global Phase 3 trials, and we look forward to defining the path forward for pumitamig in second-line NSCLC.”

Across 50 patients in the safety evaluation, pumitamig plus chemotherapy showed a manageable safety profile, with no new safety signals. Pumitamig treatment-related adverse events (“TRAEs”) of any grade were reported in 52.0% of patients and grade ≥ 3 TRAEs in 18.0%, leading to treatment discontinuation in four (8.0%) patients. Immune- related AEs occurred in 11 (22.0%) patients and grade ≥ 3 immune- related AEs in five (10.0%) patients. VEGF-related events were reported in 13 (26.0%) patients; grade 3 events were rare (two patients, 4.0%), with no grade 4 or 5 events. Bleeding events occurred in eight (16.0%) patients and were limited to grade 1 or 2 severity. There were no pumitamig-related deaths or dose-limiting toxicities (“DLTs”).

BioNTech and BMS are advancing a broad development plan for pumitamig in multiple cancer types, including lung cancer across disease stages, subgroups and lines of therapy. ROSETTA Lung-107 extends the program into the second-line NSCLC setting, and these data will inform the further development of pumitamig in this underserved patient population.

About ROSETTA Lung-107
The global, open-label, single-arm Phase 2 ROSETTA Lung-107 trial (NCT06841055) is evaluating pumitamig (BNT327/BMS986545) in combination with docetaxel in patients with stage IV squamous or non-squamous NSCLC whose disease progressed following first-line immunotherapy plus chemotherapy, with any level of PD-L1 expression. Patients with prior exposure to anti-VEGF monoclonal antibodies or PD-(L)1xVEGF bispecific antibodies were excluded. In Part 1 (safety run-in), patients received pumitamig 1400 mg or 2000 mg plus docetaxel 75 mg/m² every three weeks (Q3W). In Part 2 (dose expansion), patients received pumitamig 1400 mg plus docetaxel 75 mg/m² Q3W, the dose recommended by the internal review committee based on the totality of evidence from Part 1 and the broader pumitamig lung cancer program. The primary endpoints are dose-limiting toxicities (Part 1 only), safety, and objective response rate (“ORR”) per investigator’s assessment (RECIST 1.1). Secondary endpoints include disease control rate (“DCR”), duration of response (“DOR”), depth of response, time to response, progression-free survival (“PFS”), overall survival (“OS”), pharmacokinetics, and antidrug antibody prevalence. The trial enrolled 59 patients at sites in Australia, the Republic of Korea, Spain, Türkiye, the United Kingdom, and the United States.

About Pumitamig
Pumitamig is an investigational bispecific immunomodulator, jointly developed by BioNTech and BMS, designed to cooperatively bind to PD-L1 and VEGF-A. It is aimed at restoring the immune system’s ability to recognize and destroy tumor cells while simultaneously cutting off the blood and oxygen supply that feeds tumor cells (anti-angiogenesis effect), preventing them from growing and proliferating. By anchoring to PD-L1 receptors on tumor cells, we believe pumitamig localizes VEGF-A blockade within the tumor microenvironment, potentially enhancing antitumor activity while minimizing systemic exposure.

More than 4,000 patients have been treated with pumitamig in clinical trials to date. Seven global Phase 3 trials with registrational potential are currently ongoing, evaluating pumitamig plus chemotherapy compared to standard of care treatments, in first-line small cell lung cancer (ROSETTA Lung-01, NCT06712355); first-line non-small cell lung cancer (ROSETTA Lung-02, NCT06712316); unresectable stage III non-small cell lung cancer (ROSETTA Lung-201, NCT07361497); first-line advanced PD-L1 ≥ 50% non-small cell lung cancer (ROSETTA Lung-202, NCT07361510); first-line triple-negative breast cancer (ROSETTA Breast-01, NCT07173751); first-line microsatellite stable colorectal cancer (ROSETTA CRC-203, NCT07221357); and first-line gastric cancer (ROSETTA Gastric-204, NCT07221149). Pumitamig is also being explored in 10+ novel-novel combination trials with ADCs and other novel modalities, with the aim of expanding its role across tumor types and identifying additional pivotal opportunities.

About NSCLC
Non-small cell lung cancer (NSCLC) covers all epithelial lung cancers other than small cell lung cancer and includes squamous cell carcinoma, large cell carcinoma, and adenocarcinoma of the lung. It is the most common type of lung cancer, accounting for approximately 85% of cases, and is the leading cause of cancer-related deaths worldwide.2 Scientific advances have transformed the treatment of NSCLC, improving outcomes for many patients. However, NSCLC remains an aggressive disease with a poor prognosis and a 5-year survival rate of 18 to 22% in advanced stages.3 Patients with low levels of PD-L1 expression typically do not respond well to checkpoint inhibitor-based regimens creating a significant unmet need for new treatment options that provide durable responses to a broad range of patients.

About BioNTech
BioNTech is a global next generation biopharmaceutical company pioneering novel investigative therapies for cancer and other serious diseases. In oncology, BioNTech is committed to transforming how cancer is treated. Its ambition is to develop innovative medicines with pan-tumor or synergistic potential to address cancer from multiple angles and across the full continuum of the disease from early- to late-stage. Its growing late-stage oncology pipeline comprises complementary treatment approaches spanning immunomodulators, antibody-drug conjugates, and mRNA cancer immunotherapies. BioNTech has partnered with multiple global and specialized pharmaceutical collaborators leveraging complementary expertise and resources to accelerate innovation and drive progress, including Bristol Myers Squibb, Duality Biologics, Genentech, a member of the Roche Group, Genmab, MediLink, OncoC4, and Pfizer.

For more information, please visit www.BioNTech.com.

BioNTech Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: BioNTech’s collaboration with Bristol Myers Squibb (BMS); BioNTech and BMS’s ability to successfully co-develop and co-commercialize pumitamig (also known as BNT327 or BMS986545), if approved; the rate and degree of market acceptance of pumitamig, if approved; the initiation, timing, progress, and results of BioNTech’s research and development programs, including BioNTech’s current and future clinical trials, including statements regarding the expected timing of initiation, enrollment, and completion of trials and related preparatory work and the availability of results, and the timing and outcome of applications for regulatory approvals and marketing authorizations, including expectations regarding the potential indications in which pumitamig may be approved, if at all; the targeted timing and number of additional potentially registrational trials, and the registrational potential of any trial BioNTech may initiate; and discussions with regulatory agencies. In some cases, forward-looking statements can be identified by terminology such as “will,” “may,” “should,” “expects,” “intends,” “plans,” “aims,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

The forward-looking statements in this press release are based on BioNTech’s current expectations and beliefs of future events and are neither promises nor guarantees. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond BioNTech’s control and which could cause actual results to differ materially and adversely from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as risks associated with clinical data, and including the possibility of unfavorable new preclinical, clinical or safety data and further analyses of existing preclinical, clinical or safety data; the nature of clinical data, which is subject to ongoing peer review, regulatory review and market interpretation; the impact of tariffs and escalations in trade policy; competition related to BioNTech’s product candidates; the timing of and BioNTech’s ability to obtain and maintain regulatory approval for its product candidates; BioNTech’s ability to identify research opportunities and discover and develop investigational medicines; the ability and willingness of BioNTech’s third-party collaborators to continue research and development activities relating to BioNTech’s product candidates and investigational medicines; unforeseen safety issues and potential claims that are alleged to arise from the use of products and product candidates developed or manufactured by BioNTech; BioNTech’s and its collaborators’ ability to commercialize and market its product candidates, if approved; BioNTech’s ability to manage its development and related expenses; regulatory and political developments in the United States and other countries; BioNTech’s ability to effectively scale its production capabilities and manufacture its products and product candidates; and other factors not known to BioNTech at this time.

You should review the risks and uncertainties described under the heading “Risk Factors” in BioNTech’s Report on Form 6-K for the period ended June 30, 2026 and in subsequent filings made by BioNTech with the SEC, which are available on the SEC’s website at www.sec.gov. These forward-looking statements speak only as of the date hereof. Except as required by law, BioNTech disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise.

About Bristol Myers Squibb
At Bristol Myers Squibb, our mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. We are pursuing bold science to define what’s possible for the future of medicine and the patients we serve. For more information, visit us at BMS.com and follow us on LinkedIn, X, YouTube, Facebook and Instagram.

Bristol Myers Squibb Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research, development and commercialization of pharmaceutical products. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on current expectations and projections about Bristol Myers Squibb’s future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. These risks, assumptions, uncertainties and other factors include, among others, that the expected benefits of, and opportunities related to the collaboration with BioNTech may not be realized by Bristol Myers Squibb or may take longer to realize than anticipated, that future study results may not be consistent with the results to date, that pumitamig (also known as BNT327 or BMS986545) alone or in combination with chemotherapy (such as docetaxel) may not achieve its primary study endpoint or receive regulatory approval for the indications described in this release in the currently anticipated timeline or at all, any marketing approvals, if granted, may have significant limitations on their use, and, if approved, whether pumitamig alone or in combination with chemotherapy will be commercially successful. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb’s business and market, particularly those identified in the cautionary statement and risk factors discussion in Bristol Myers Squibb’s Annual Report on Form 10-K for the year ended December 31, 2025, as updated by Bristol Myers Squibb’s subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, Bristol Myers Squibb undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

CONTACTS

BioNTech
Media Relations
Jasmina Alatovic
[email protected]

Investor Relations
Douglas Maffei, PhD
[email protected]

Bristol Myers Squibb
Media Relations
[email protected]  

Investor Relations
[email protected]

1. Ahn MJ et al. J Clin Oncol. 2025;43(3):260–272.
2. Lin Z et al. Medicine (Baltimore). 2025 Jul 25;104(30):e43300.
3. Liu SV et al. Immunotherapy. 2025 Oct;17(14):1005-1013.

Liaquat Ahamed byl jako známý finanční a investiční historik hostem Bloombergu, kde se obsáhle věnoval podobnostem mezi železniční investiční bublinou a současným děním kolem umělé inteligence (viz včerejší Víkendář). V rámci diskuse o celkovém rozvoji finančních trhů zmínil i Rothschildovi, jejichž rozmach podle něj stál zejména na tom, že pomáhali evropským vládám financovat obnovu zemí po napoleonských válkách.

Podle Ahameda Rothschildovi hodně prodělali na investičním boomu při budování plavebních kanálů. Ten byl vedle stavby železnic dalším významným prvkem tehdejší dopravní infrastruktury. Rothschildovi se v té době pokusili dostat část peněz zpět tím, že se budou soudit s několika státy, nicméně zjistili, že to v USA nelze, protože tyto státy mají imunitu. To podle nich bylo známkou banánové republiky a z USA odešli. Nakonec ke své škodě.“

Proč se více nepoučíme z finančních krizí a investičních bublin minulosti? Ahamed na tuto otázku reagoval s tím, že ve skutečnosti se učíme, ale zároveň nás ovlivňuje to, jací jsme. Nyní se například hovoří o tzv. kruhovém financování, kde si velké technologické společnosti navzájem poskytují různé druhy financování a podpory. Podle experta jde ale v principu zase jen o nějakou formu dluhu. Řada krizí přitom jasně ukazuje, že hlavní problém během boomu spočívá v příliš vysokým zadlužení. „Všichni víme, co kruhové financování představuje. Na cestě nahoru je výborné, opak platí cestou dolů.“

Ve spojitosti s boomem železnic a dalšími bublinami a krizemi expert zmínil i finanční korupci a různá schémata. Mezi ně se dají řadit také mimorozvahové závazky a subjekty, během internetové bubliny se přidala přímá korupce a konflikty zájmů. Co se děje nyní, podle Ahameda ještě plně nevíme, to zjistíme až v budoucnu. V roce 1873 se ukázalo, že „budovatelé železnic okrádají své akcionáře“. Vytvářeli například různé stínové společnosti, a ty prodávali těm, které stavěly železnice, za příliš vysoké ceny.

Existují nyní dostatečné nástroje k prevenci podobných machinací? Podle experta přišly důležité reformy v roce 1929, k preventivním opatřením přitom vedle regulace patří i novinářská a investigativní práce. „Všichni tak dnes například víme, co dělá společnost NVIDIA. Ale problém spočívá v tom, že nelze predikovat vše… Nelze předpovídat třeba geopolitický vývoj, který může mít výrazné důsledky na fungování trhů.“

Sahamed hovořil i o tom, že finanční krize přichází mnohem pomaleji, než by se mohlo zdát. Může se tak dlouho mluvit o problémech a tenzích a na trzích se nic neděje. A pak přijde velmi náhlý a prudký posun. Platilo to i o roce 1873, protože už dva roky před ním se hovořilo o tom, že „tohle nemůže pokračovat dál“. Umělá inteligence může procházet běžným cyklem boomu a poté ochlazení. Ten ale nemusí být tak nepříjemný, protože ekonomika je odolná. Něco jiného je ale přímá krize, kterou ale podle experta způsobuje to, že během cyklu přijde vážná chyba v monetární politice. Ta podle experta přišla právě v roce 1873, ale třeba i v roce 1929, kdy „nechali padnout banky“. A podobné to bylo v roce 2008.

Na závěr rozhovoru mluvil Ahamed o tom, že finanční krize jsou dobrou líhní pro konspirační teorie. „Hodně lidí si projde něčím nepříjemným a pak hledají, koho z toho vinit.“ Cílem se mohou stát banky, ale také třeba skupiny lidí. Podle experta to platilo i o „židovských brokerech“ v Německu poté, co se i tam projevily důsledky bubliny. „Slovo antisemitismus vzniklo v roce 1879 v Německu, kde se jeden novinář rozhodl rozdmýchat nenávist proti Židům. Antisemitismus vnímal jako něco přínosného… Všichni víme, k čemu to nakonec vedlo.“

Ahamed ale poukázal zároveň na to, že politické a společenské tenze mohou pramenit i z vládní politiky. Třeba krizi roku 2008 „způsobily banky a stát pak pomohl jim, ale vlastníkům nemovitostí ne.“ Podle něj se přitom ve vládních kruzích diskutovalo o tom, jak pomoci i druhé skupině, ale bylo to považováno za technicky nemožné. Výsledkem ale byla vlna zklamání a odporu, a to na obou stranách politického spektra, a pak to, co lze nazývat populismem.

Space Exploration Technologies (SPCX +1.89%) reported strong third-quarter results on Oct. 20. The company's artificial intelligence (AI) segment -- dubbed Super Intelligence (SI) -- was particularly impressive. SpaceX's total revenue grew 161% year over year to $14.6 billion, while SI revenue soared 830% year over year to $7.6 billion.

Even with a $608 million contribution from an acquisition that closed in August and boosted its SI unit, this business’s growth during the period was impressive. The fact that SpaceX is experiencing such strong demand for AI is arguably a bullish sign for the broader AI industry. And for investors still looking for stocks to capitalize on the AI market, here are two that look particularly attractive following SpaceX's third-quarter update: Nvidia (NVDA -0.59%) and CoreWeave (CRWV -2.46%).

Image source: The Motley Fool.

1. NvidiaDuring the third quarter, SpaceX's capex in its SI business was $16.4 billion, up 245.5% year over year. At least some of that money is likely landing right in Nvidia's pockets, as SpaceX continues to expand its capacity to meet the high demand for AI compute. This isn't just speculation either.

SpaceX's management pointed out, among other things, that even older Nvidia systems, like the H100 GPU (graphics processing unit), are renting out at a premium compared to when they were new -- the H100 launched in 2022.

That says a lot about Nvidia, and it strongly suggests that newer systems, like the company's Vera Rubin architecture, are experiencing even higher demand. Further, SpaceX's CEO, Elon Musk, predicted a shortage of superintelligence compute that would last for some time.

NVDA Nvidia$210.96-$1.25 (-0.59%)

NASDAQ · As of 4:00 PM ET 10/23/26

If true, this would certainly benefit Nvidia, potentially granting the company even more pricing power. The bottom line is that while some people still expect the AI bubble to burst and take Nvidia down with it, there is significant evidence that AI infrastructure spending could continue to grow unabated for the foreseeable future. SpaceX gave us more data confirming that.

Meanwhile, Nvidia remains the undisputed leader in GPUs and has significantly expanded its portfolio. The company is well-positioned to tap into the massive demand for AI compute in the medium term and could deliver outstanding returns. In short, it's still not too late to invest in Nvidia, even after its amazing performance over the past five years.

2. CoreWeaveCoreWeave also rents out AI compute capacity through a network of data centers. Some investors are skeptical of the company's prospects right now, but it isn't because sales growth hasn't been impressive. In the second quarter, CoreWeave's revenue increased by 112.5% year over year to $2.6 billion.

CoreWeave ended the period with a revenue backlog of $104 billion, up 245.5% year over year. And that didn’t include the more than $25 billion in revenue backlog it recorded in the first few weeks of the third quarter.

However, CoreWeave is incurring significant debt to fund its AI ambitions, which is a meaningful risk investors will need to keep in mind, in addition to the company's customer concentration.

CRWV CoreWeave$54.24-$1.37 (-2.46%)

NASDAQ · As of 4:00 PM ET 10/23/26

With that said, SpaceX's recent results and management commentary suggest that the kinds of services CoreWeave offers will remain in high demand for a while, which makes its debt-related problems much less concerning.

Consider, for instance, that Musk said that SpaceX could rent out AI compute capacity several times over if the company accepted every request. In other words, current demand significantly exceeds capacity. Also, SpaceX's CFO, Bret Johnsen, noted that "At current pricing, new compute deployments are generating a payback of less than a year."

These are incredibly bullish signs for CoreWeave. And they arguably justify the company spending fortunes to increase its compute capacity. The stock is a bit riskier due to the issues mentioned above. However, it could deliver outstanding returns over the next five years.

Plenty of stocks pay dividends, but not all of those qualify as true dividend stocks. Tobacco giant Altria (MO -2.31%) does.

Altria is a poster child for dividend stocks, routinely boasting one of the highest yields in the S&P 500 (^GSPC -0.52%). This year, though, the stock has displayed more of the characteristics of a growth stock than a typical income stock. Through the market close on Oct. 12, Altria was up by 28% compared to the S&P 500's 13%.

After that impressive run-up so far in 2026, is the stock still a good buy?

Image source: The Motley Fool.

A premier dividend stock
Despite its unusual price gains, the appeal of Altria's stock is undoubtedly based on its dividend. The company is well aware that those quarterly payouts are why some investors flock to the stock, so it prioritizes maintaining and increasing them.

At the current share price, Altria's yield is 5.8%, which is more than 5.5 times what you'd get from an S&P 500 ETF today, but still less than its average over the past five years.

MO Dividend Yield data by YCharts.

High yield aside, Altria's dividend has been the definition of consistency. The company is a Dividend King (a company with at least 50 consecutive years of dividend increases). Its streak now stands at 57 straight years. Of the thousands of stocks trading on the U.S. market, only 25 have longer dividend-hiking streaks.

MO Altria Group$74.31-$1.76 (-2.31%)

NYSE · As of 4:00 PM ET 10/23/26

Using pricing power to keep the train rolling
Altria has been the country's leading tobacco company for quite some time, leaning on its iconic brands like Marlboro, Copenhagen, Black & Mild, and others.

The nature of its business has been a double-edged sword over the past decade or so. On one hand, people are smoking cigarettes much less. A recently published report shows the smoking rate among U.S. adults at 9.9%, the lowest percentage ever recorded. This inevitably affects the country's largest cigarette producer.

On the other hand, the tobacco industry comes with lots of pricing power because many smokers are brand loyal and buy their preferred brand regardless of price. So, while Altria's cigarette sales volumes have been falling, it has offset some of those declines by steadily raising prices.

Investors don't expect huge revenue growth from Altria, so flat or occasional declines aren't deal-breakers. As long as its business is healthy enough to keep the dividends coming, many investors are perfectly content.

MO Revenue (Quarterly YoY Growth) data by YCharts.

Altria is generally more concerned with its earnings per share (EPS), because earnings are what fund its dividends and its stock buybacks. In the second quarter, its adjusted EPS grew 2.8% year over year, down from 7.3% growth in the first quarter. For a company of its size and maturity, though, that's solid.

Is Altria a buy?
Some people point to the declining smoking rates as the central hindrance to Altria's long-term success. That's a real problem for the company, no doubt, but I don't think it's as imminent a threat to its business as some may believe. It's true that "just keep raising prices" isn't a great long-term business model, but it does buy Altria time to become a true player in the smokeless nicotine space.

Altria's on! nicotine pouches have been getting good distribution, but they still don't compare to the popularity and success of Philip Morris International's Zyn nicotine pouches. Regardless, any progress is better than none, and after Altria's previous swings and misses in the space, investors should be glad for now.

If you're looking for a solid dividend stock, Altria is a great option. As mentioned, the company isn't oblivious to the fact that most shareholders only stick around for the dividend. If it lets the appeal of that dividend fade, it loses investors, which would present a bigger problem for management.

There are plenty of things Altria would do operationally before putting its dividend on the chopping block. That doesn't make the stock a foolproof investment, but if you're looking for a good income source, Altria provides that. I don't see that changing anytime in the foreseeable future.

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SummaryI reiterate my Strong Buy on Vicor after a record Q3, despite a 38% drawdown since my last article driven by sector-wide AI hardware selling.Q3 revenue rose 78.5% YoY to $197.1M, with product revenue up 47%, royalties up 207%, and gross margin reaching 68.3%.Vicor is supply-constrained rather than demand-constrained, with Fab 1 nearly full and two new fab sites targeting about 5x capacity from Q2 2027.Management expects to fund the expansion entirely from cash, in contrast with peers financing AI buildouts through debt or large equity raises.My FY27 scenarios range from -36% to +103%, with a base case of +44%. Thomas Barwick/DigitalVision via Getty Images

Investment Thesis Despite the volatility in the share price and negative returns over the last few months, I reiterate my Strong Buy rating on Vicor (VICR) based on fundamental improvements across many

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of VICR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.