Core Insights - Investment strategist Shay Boloor has identified ten sub-$10 billion market-cap companies poised to benefit from long-term trends leading into 2026, focusing on essential platforms and hard infrastructure rather than short-term narratives [1][19] Company Summaries - **Ondas Holdings (NASDAQ: ONDS)**: Developing a wireless connectivity layer for industrial and autonomous drones, with strong revenue growth momentum and a year-to-date stock increase of over 230% [2][3] - **Cipher Mining (NASDAQ: CIFR)**: Transitioning to a digital infrastructure owner with large-scale power and data-center assets, stock up over 250% year to date [6] - **Jumia Technologies (NYSE: JMIA)**: Refining its e-commerce and logistics model in Africa, with improved order volumes and a stock gain of about 215% [7] - **DigitalOcean Holdings (NYSE: DOCN)**: Regaining investor confidence with strong earnings and positioning as an AI inference cloud, stock up 40% year to date [8] - **IREN Limited (NASDAQ: IREN)**: Expanding compute capacity with record profitability and a nearly 285% stock increase [9] - **ClearPoint Neuro (NASDAQ: CLPT)**: Advancing image-guided navigation platforms for neurosurgeons, with a stock decrease of 18% year to date [10] - **Eos Energy Enterprises (NASDAQ: EOSE)**: Developing zinc-based energy storage systems for high-load environments, stock up 170% year to date [11] - **Navitas Semiconductor (NASDAQ: NVTS)**: Supplies gallium nitride power chips for AI data centers, stock up 145% year to date despite near-term pressures [14] - **Viking Therapeutics (NASDAQ: VKTX)**: Developing GLP-1 therapies for obesity and diabetes, with a stock decrease of about 10% [16] - **TransMedics Group (NASDAQ: TMDX)**: Scaling its organ care system with a focus on logistics, stock up about 90% [18]

Core Viewpoint - Lululemon's stock surged 9.6% following a leadership change and a stronger-than-expected quarterly report, indicating renewed optimism about the company's turnaround prospects [1][4]. Leadership Change - Long-time CEO Calvin McDonald will step down on January 31, 2024, after a tenure that saw revenue triple, but concerns arose regarding the brand's slow adaptation to North American consumer preferences [4]. Financial Performance - Lululemon reported Q3 revenue of $2.56 billion, a 7% year-over-year increase, surpassing expectations by 3%, primarily driven by growth in Asia and Europe [6]. - Profitability exceeded expectations with an EPS of $2.59, despite a year-over-year decline, and the company upgraded its full-year guidance to sales of $10.96–$11.05 billion and EPS of $12.92–$13.02 [7]. Market Dynamics - Sales in the Americas have been sluggish, with comparable sales flat in Q1 and declining thereafter, ending the year down 1%, while the latest quarter saw a 2% decline in America's sales and a 5% drop in comparable store sales [5]. - In contrast, international markets have become the main growth driver, with revenue in Asia and Europe climbing 33% and comparable store sales increasing 18% [6]. Investor Sentiment - The stock is supported by influential investors, including Michael Burry, who added 50,000 shares of Lululemon [3]. - Wall Street analysts maintain a 'Hold' rating on Lululemon, with a consensus favoring holding the stock, and an average 12-month price target of $199.56, indicating a modest decline from the recent closing price [8].

Core Viewpoint - Campbell's shares have reached a 16-year low, trading at $28.58, a decline of nearly 7% since the '3D printed meat' controversy [1][2] Stock Performance - The ongoing slump has erased all gains made over the past four years, with the stock trading well below its 2022 and 2023 averages [2] Analyst Ratings and Price Targets - DA Davidson lowered Campbell's stock price target from $32 to $30 while maintaining a "Neutral" rating, citing weakness in consumer spending and competition in the food sector [5] - Deutsche Bank adjusted its price target to $31 from $33, keeping a "Hold" rating, while RBC Capital cut its target from $35 to $30 with a "Sector Perform" rating [6] - Bernstein lowered its target from $39 to $33 but maintained a "Buy" rating, believing the company's products align with consumer trends [8] - Stifel Nicolaus and Wells Fargo both lowered their price outlooks to $30, opting for a "Hold" rating [9] Market Sentiment - The average stock price target for Campbell's over the next 12 months has an upside potential of 8.47%, sitting at $31.13 [12] - Overall, the sentiment among analysts is mixed, with ten "Hold" ratings, three "Sell" ratings, and only two "Buy" ratings from Bernstein and Stephens [10]

Core Insights - Elon Musk confirmed a SpaceX IPO is forthcoming, which is anticipated to be a significant market event in 2026 [1] - Musk suggested a potential valuation of SpaceX at $1.5 trillion, which could double his wealth [1] Valuation and Pricing - The exact share price for SpaceX's IPO remains uncertain, with estimates ranging from $400 to over $1200 based on various factors [3][4] - A public-offering valuation between $1 trillion and $1.5 trillion would mark one of the largest tech debuts in the past decade, significantly higher than the recent private valuation of approximately $800 billion [4][6] - Musk has dismissed claims of SpaceX raising funds at an $800 billion valuation as inaccurate, emphasizing the company's positive cash flow and periodic stock buybacks [5] Revenue Projections - SpaceX is projected to generate around $15 billion in revenue for 2025 and potentially $22–24 billion in 2026, largely driven by the expansion of its Starlink satellite-internet service [6] - Meeting these revenue expectations could support a valuation of $1 trillion to $1.2 trillion, with share prices potentially ranging from $400 to $800 [7] Market Sentiment and Future Outlook - The final share price will depend on market sentiment at the time of listing and the appetite for high-cap tech offerings, especially amid rising valuation concerns in the tech sector [8] - Despite uncertainties, the outlook remains optimistic for SpaceX's IPO, which could be the largest of 2026 [9]

Group 1: Stock Performance - Alphabet (Google's parent company) has seen its stock increase by 68.69% over the past 12 months, significantly outperforming Nvidia's 36.89% growth during the same period [1] - The S&P 500 index has risen by 13.81%, with Apple at 12.35%, Microsoft at 7%, Meta at 4.80%, Tesla at 3.49%, and Amazon at 1.9% [2] Group 2: Competitive Landscape - Google is emerging as a strong competitor to Nvidia in the AI space, particularly with its Tensor Processing Units (TPUs) outperforming Nvidia's Graphics Processing Units (GPUs) in benchmarks [3] - Reports of Meta exploring multibillion-dollar deals with Google led to a significant $250 billion drop in Nvidia's market value [4] - Google plans to more than double its TPU output by 2028, which may further impact Nvidia's market position [4] Group 3: Technology and Market Dynamics - Nvidia's GPUs are still favored for AI training due to their flexibility and established presence in the industry, while Google primarily uses TPUs for internal applications [5] - Despite Google's strong stock performance, AI developers remain cautious about switching to Google's chips, as it could disrupt their reliance on Nvidia's data center business [6] - The novelty of Google's products has contributed to its stock's outperformance relative to the S&P 500 [6]

Core Viewpoint - Michael Burry criticized leading tech companies, including Oracle, for allegedly overstating earnings through accounting practices, predicting Oracle would overstate earnings by 26.9% by 2028 [1][2]. Company Performance - Oracle's fiscal second quarter revenue was $16.06 billion, a 14% increase year-over-year but below the consensus estimate of $16.21 billion [6]. - Cloud-infrastructure revenue surged 68% to $4.1 billion, narrowly missing expectations, while earnings per share (EPS) were $2.26, exceeding the forecast of $1.64 [6]. - Software sales declined 3% to $5.9 billion, falling short of the $6.06 billion analyst estimate [7]. Market Reaction - Following Oracle's earnings report, shares fell nearly 12% in after-hours trading, leading to valuation concerns among shareholders [4]. - The earnings report resulted in a loss of approximately $70 billion in Oracle's market capitalization [8]. Debt and Investment Concerns - Oracle raised $18 billion in bond offerings prior to announcing a $300 billion deal with OpenAI, contributing to market concerns about its debt-driven expansion for AI infrastructure [9]. - Since the bond offering and deal announcement, Oracle shares have decreased by around 40% [9].

Core Points - Alphabet is set to issue a quarterly dividend of $0.21 per share on December 15, 2025, with an ex-dividend date of December 8, 2025 [1] - Investors holding 100 shares will earn $21 in dividend income for this quarter, totaling $83 for the year, reflecting a 33.83% increase in annual dividends compared to 2024 [2] - The upcoming dividend payment remains unchanged from the previous payout of $0.21 on September 15, 2025 [3] Dividend Schedule - The next estimated dividend amount is $0.21, with the next pay date on December 15, 2025, and the following payment scheduled for September 16, 2026 [4] - This payment marks the conclusion of Alphabet's second year of dividend payments, establishing its status as a passive income stock [4] Market Performance - Google shares have an average price recovery period of 11.3 days post-ex-dividend, indicating a quick rebound [5] - The company maintains a forward payout ratio of 7.50%, suggesting a strong earnings buffer and sustainability of future payouts [5] Dividend Yield - The current dividend yield is approximately 0.26%, indicating a conservative approach to capital returns, despite a notable increase in dividends from the previous year [6]

Core Insights - Microsoft's long-term trading history indicates a recurring seasonal pattern, particularly strong in January, which may present investment opportunities ahead of January 2026 [1][5] - The stock has shown an average return of 4.3% in January over nearly four decades, with positive performance in 66% of those periods [3][4] - January is highlighted as the month with the strongest combination of frequency and magnitude of gains compared to other months like March, April, and October [4] Financial Performance - In the most recent quarter, Microsoft reported $76.4 billion in revenue, reflecting an 18% year-over-year increase, and net income of $27.2 billion, with diluted earnings per share at $3.65, a 24% annual increase [6] - Growth was primarily driven by cloud and AI operations, indicating strong fundamentals supporting the stock's potential for continued rally [5][6] Strategic Developments - Microsoft has introduced expanded Copilot capabilities and new AI tools across Microsoft 365 and Azure, enhancing its monetization of AI [7] - The company is investing billions to expand global AI and cloud capacity, with large-scale data-center developments in regions like India and Canada set to come online through 2025-2026 [7][9] - As these facilities become operational, Microsoft is expected to handle higher AI and cloud workloads, supporting stronger demand for Azure and reinforcing long-term revenue visibility [9]

Core Insights - The FIFA 2026 World Cup is anticipated to attract millions of visitors and boost consumer activity, creating investment opportunities in sectors related to travel, payments, hospitality, and consumer spending [1] Company Analysis Visa (NYSE: V) - Visa is expected to benefit from increased payment volumes due to the World Cup, as global events typically enhance consumer spending [2] - The tri-nation format of the tournament is likely to increase cross-border transactions, with international fans relying on card-based payments for various expenses [2][3] - Visa's historical involvement in handling payments at previous tournaments positions it well to capture increased transaction activity, with cross-border payments yielding high margins [3] YETI Holdings (NYSE: YETI) - YETI is poised to benefit from heightened consumer behavior associated with travel and outdoor events, despite not being a tournament sponsor [5] - The World Cup's spread across 16 host cities is expected to drive demand for YETI's products, such as travel gear and lifestyle accessories [5][6] - YETI's strong brand presence in North America enhances its ability to meet the anticipated demand linked to World Cup activities [7]

Core Viewpoint - Exicure has experienced a significant stock price rally due to promising Phase 2 trial results for its investigational drug burixafor, which is designed for hematopoietic progenitor cell mobilization in multiple myeloma patients [1][3]. Group 1: Stock Performance - Exicure shares surged 70% in pre-market trading to approximately $9, following a previous close of $5.33, marking a year-to-date decline of 64.89% [1]. - The early-morning rally was a response to the positive trial results, indicating a strong market reaction to the new data [3]. Group 2: Clinical Trial Results - Nearly 90% of trial participants achieved the required CD34+ cell thresholds within two leukapheresis sessions when treated with burixafor in combination with propranolol and G-CSF [4]. - The therapy demonstrated effectiveness in patients previously treated with daratumumab, a group that typically has lower mobilization success [5]. - Burixafor's rapid activity was highlighted, with peak CD34+ cell levels appearing within an hour, distinguishing it from other drugs in the same class [5]. Group 3: Institutional Ownership - Despite its small size and previous decline, Exicure has maintained a presence in the portfolios of major institutional investors, including BlackRock, Carlyle Group, Vanguard, Geode Capital Management, and UBS Group [6][7]. - As of September 30, 2025, BlackRock held 5,730 shares of Exicure, indicating continued interest from professional investors [6].