Core Insights - Uber's stock has seen a 33% increase year to date, despite a recent 20% decline from its peak, indicating a reasonable valuation with a forward price-to-earnings ratio under 19, presenting a potential investment opportunity [1] User Base - Uber reported 189 million monthly active users (MAUs) at the end of Q3, reflecting a 17% year-over-year increase, suggesting potential for further customer growth by 2026 [4] Profitability and Business Model - Uber has transformed from a significant net loss of $8.5 billion in 2019 to generating $9.8 billion in profits through the first nine months of 2025, showcasing a scalable business model [6][7] - The company is expected to see a 44% increase in operating income between 2025 and 2026, outpacing projected sales growth, as sales and marketing expenses decrease as a percentage of revenue [8] Autonomous Vehicles - The rise of autonomous vehicle (AV) technology presents both risks and opportunities for Uber, as it has established partnerships with enterprises in the AV space and has a large user base [9] - If competitors like Waymo or Tesla achieve breakthroughs in AV technology by 2026, they could challenge Uber's market position, while continued partnerships could enhance Uber's network [10]

The quantum computing company is an exciting investment opportunity, but it isn't cheap.IonQ (IONQ +4.39%) has consistently surpassed expectations this year. Most recently, it reported $39.9 million in revenue in the third quarter of 2025, which was 37% more than the top end of the expected range and 222% year-over-year growth.Given the recent results and the growth potential of the quantum computing industry, you may be wondering if now is a good time to invest $500 in IonQ. While it's exciting to invest i ...

Core Insights - The article compares two international ETFs, SPDR Portfolio Developed World ex-US ETF (SPDW) and iShares Core MSCI EAFE ETF (IEFA), highlighting their differences in cost, size, and yield [1][2]. Cost and Size Comparison - SPDW has a lower expense ratio of 0.03% compared to IEFA's 0.07% [3]. - As of December 12, 2025, SPDW's one-year return is 26.6%, while IEFA's is 16.0% [3]. - SPDW has a dividend yield of 2.6%, slightly lower than IEFA's 2.9% [3]. - Assets under management (AUM) for SPDW is $33.3 billion, significantly smaller than IEFA's $163.0 billion [3]. Performance and Risk Metrics - Over five years, SPDW's maximum drawdown is -30.20%, while IEFA's is -30.41% [5]. - The growth of $1,000 invested over five years is $1,335 for SPDW and $1,330 for IEFA [5]. Sector Allocation and Holdings - IEFA includes 2,600 developed-market stocks, with major sectors being financial services (23%), industrials (20%), and healthcare (10%) [6]. - SPDW has a similar sector allocation, with top sectors being financial services (23%), industrials (19%), and technology (11%) [7]. - The largest holdings for both ETFs include ASML, AstraZeneca, and Roche, with SPDW also holding Samsung [7]. Investment Implications - Both ETFs provide pathways for international exposure, with IEFA being larger in terms of holdings and assets but with a higher expense ratio [8]. - SPDW offers broader international exposure by including Canadian companies, which constitute 11% of its geographical weighting [9]. - For investors prioritizing low cost and broad international exposure, SPDW is highlighted as a favorable option compared to IEFA [10].

Group 1: Hedge Fund Activity - Three hedge fund billionaires bought small positions in Rigetti Computing while selling shares of Amazon in the third quarter [1] - All three hedge fund managers outperformed the S&P 500 over the past three years, indicating their investment decisions may be worth noting [2] - Israel Englander sold 787,900 shares of Amazon, Ken Griffin sold 1.6 million shares, and Steven Schonfeld sold 253,700 shares, reducing their positions significantly [9] Group 2: Amazon Overview - Amazon holds a strong position in three industries: the largest online marketplace in North America and Western Europe, the largest retail advertiser globally, and the largest public cloud provider through AWS [4] - The company is leveraging artificial intelligence to enhance sales and efficiency, with its AI shopping assistant expected to generate $10 billion in sales this year [5] - Amazon's revenue increased by 13% to $180 billion in the third quarter, with operating income rising 25% to $21.7 billion, indicating improved profitability [7] Group 3: Rigetti Computing Overview - Rigetti Computing specializes in superconducting quantum computing, with a focus on developing qubits for quantum computers [11] - The company reported revenue of $5 million but a net loss of $198 million year-to-date, indicating significant financial challenges [12] - Rigetti's valuation is extremely high at 860 times sales, with a 71% increase in outstanding shares over the past year due to stock issuance [13] Group 4: Investment Rationale - The hedge fund managers' investment in Rigetti may be driven by momentum, with the potential for quick profits rather than long-term conviction [15] - Rigetti benefits from vertical integration, controlling much of its supply chain, which may provide cost efficiencies [14]

Core Insights - The average monthly benefit for retired workers has surpassed $2,000 for the first time in Social Security's history, with a notable annual cost-of-living adjustment (COLA) of at least 2.5% for five consecutive years, a feat not seen in nearly three decades [1][2] Summary by Sections Social Security Importance - A significant majority of retirees, approximately 80% to 90%, rely on Social Security income to meet their expenses, indicating that it is a necessity for most beneficiaries [2] Benefit Calculation Factors - The calculation of monthly Social Security benefits is based on four key elements: earnings history, work history, full retirement age, and claiming age [5][7] - The Social Security Administration (SSA) considers the 35 highest-earning, inflation-adjusted years for calculating benefits, penalizing those with fewer than 35 years of qualifying work history [6][5] - The full retirement age, which is 67 for those born in or after 1960, is the age at which beneficiaries can collect 100% of their benefits [8] Claiming Age Analysis - Claiming benefits as early as age 62 can lead to permanent monthly reductions of up to 25% to 30%, with only 8% of claims made at ages 62, 63, and 64 being optimal [17][18] - Conversely, waiting until age 70 to claim benefits can significantly increase monthly payouts, with 57% of claims at that age being optimal according to the analysis [19] Research Findings - A study analyzing 20,000 retired workers found that only 4% made optimal claims, highlighting a clear gap between actual and optimal claiming decisions [12][15] - The analysis revealed that 79% of retirees claimed benefits between ages 62 and 64, but this age range offered the lowest probability of an optimal claim [17][18] - Unique personal factors, such as health and life expectancy, can influence the decision on when to claim benefits, but generally, waiting tends to yield higher lifetime income from Social Security [20][21]

Core Viewpoint - Constellation Brands is currently undervalued in the market due to recent declines in consumer spending, presenting a unique opportunity for investors to acquire the stock at a high dividend yield and low free cash flow multiple [1] Sales Performance - The company experienced a 15% year-over-year decline in sales last quarter, primarily due to asset sales in the wine and spirits segment, while the beer segment, which constitutes 94% of total net sales, saw an adjusted sales decrease of 7% year over year [3] - Recent sales pressure is linked to cautious consumer spending, indicating a temporary dip rather than a permanent decline in brand positioning [5] Market Trends - Imported beer is gaining traction in the U.S. market, with nearly 18% of all beer consumed being imported, benefiting Constellation's portfolio that includes popular brands like Corona and Modelo [4] - The company's top beer brands gained dollar share in the U.S. market last quarter, with Modelo Especial leading in dollar sales [6] Financial Metrics - Despite lower sales, the company generated $634 million in free cash flow last quarter and over $1.8 billion on a trailing-12-month basis, allowing for an attractive price-to-free-cash-flow multiple of 13.8, significantly below the five-year average of 25 [8] - The dividend payout ratio was only 39% of free cash flow over the last year, with a current quarterly payment of $1.02, resulting in a forward dividend yield of 2.88%, more than double the S&P 500 average [9] Investment Opportunity - The current cyclical downturn presents a rare buying opportunity for investors to acquire a high-quality company at a bargain price, as such valuations are typically not available during periods of sales growth [10]

Core Viewpoint - The semiconductor sector is experiencing significant growth, with the VanEck Semiconductor ETF outperforming the S&P 500, driven by strong performance from key companies like Nvidia, Taiwan Semiconductor Manufacturing, and Broadcom [3][5][7]. Group 1: Performance Comparison - The VanEck Semiconductor ETF has delivered a year-to-date return of 39.5% through December 17, significantly outperforming the S&P 500 [3]. - The S&P 500 has historically returned an average of 9% annually, but the semiconductor ETF has outperformed it by a wide margin this year [2][3]. Group 2: Key Holdings - The top three holdings in the VanEck Semiconductor ETF are Nvidia, Taiwan Semiconductor Manufacturing, and Broadcom, which collectively represent over a third of the ETF [7]. - These companies have shown strong revenue growth, with two of the three reporting accelerating growth in their most recent quarters [9]. Group 3: Market Dynamics - The growth of the semiconductor sector is closely tied to the ongoing AI boom, with increasing demand for semiconductors across various industries, including medical equipment and automobiles [12]. - The VanEck Semiconductor ETF trades at a price-to-earnings ratio of 38.6, compared to 28.5 for the Vanguard S&P 500 ETF, indicating a premium valuation [11]. Group 4: Future Outlook - The continued buildout of AI data centers is expected to drive further demand for semiconductors, suggesting a positive outlook for the sector [12]. - Despite potential concerns about an AI bubble, the current growth trends and demand dynamics support the case for the VanEck Semiconductor ETF's outperformance in the coming year [13].

Core Viewpoint - The stock market is expected to perform well in 2026, prompting investors to prepare a list of potential stock picks for their portfolios [1] Group 1: Top Stock Picks - Nvidia is projected to remain a leading stock due to its pivotal role in the AI sector, with significant capital expenditures expected in data centers [3][5] - AMD is anticipated to close the gap with Nvidia in the GPU market, with a projected 60% compound annual growth rate in data center revenue over the next five years [6][7] - Broadcom is focusing on custom AI accelerators for hyperscalers, with a 74% year-over-year increase in AI semiconductor revenue expected to accelerate above 100% in Q1 fiscal 2026 [8][10] - Taiwan Semiconductor is the largest chip foundry and is expected to benefit from ongoing high AI infrastructure spending [11][12] - Alphabet is emerging as a strong player in AI with its generative AI model, Gemini, and has a robust business in Google Search and Google Cloud [13][15] - Meta Platforms is expected to see growth driven by AI, despite recent stock price declines, presenting a buying opportunity [16][17] - Amazon's revenue growth in advertising and cloud computing is expected to continue, supporting stock recovery [18] - PayPal's stock is considered undervalued with strong earnings growth potential, particularly through share buybacks [19][21] - The Trade Desk is projected to grow revenue at a 16% pace in 2026, despite recent challenges [22][23] - MercadoLibre remains a dominant e-commerce player in Latin America, with past stock pullbacks providing good buying opportunities [24][25]

Core Insights - The quantum computing investment landscape has experienced significant volatility, with stocks initially selling off in early 2025 but later showing upward momentum before declining again in October due to reduced market risk appetite [2][16] - IonQ and Rigetti Computing have both seen substantial declines from their October highs, with IonQ down approximately 43% and Rigetti down about 60% [3] - The success of quantum computing stocks in 2026 will largely depend on the market's risk appetite rather than the companies' actual technological advancements [15][16] Company Analysis - IonQ utilizes trapped ion qubits, which offer high fidelity and accuracy, achieving a notable 99.99% two-qubit gate fidelity, significantly surpassing competitors using superconducting qubits [9][7] - Rigetti Computing employs superconducting qubits but has struggled to close the gap with IonQ, facing challenges in securing research contracts that are crucial for long-term viability [11][12] - IonQ's leadership in the trapped ion approach positions it favorably, but it must establish a strong market foothold before competitors potentially catch up in accuracy and speed [10][17] Market Dynamics - The Quantum Benchmarking Initiative by DARPA aims to identify quantum technologies that can operate cost-effectively at a commercial scale, with IonQ selected for Stage B while Rigetti was not [12][14] - The current market for quantum computers is limited, primarily consisting of research contracts, which makes winning these contracts essential for companies like IonQ and Rigetti [11] - The volatility of quantum computing stocks is influenced by broader market conditions, with speculative valuations making them sensitive to shifts in investor sentiment [15][16]

Core Viewpoint - Lowe's shares have underperformed compared to the S&P 500 in 2025, raising questions about potential recovery in 2026 [3][4]. Group 1: 2025 Performance - Lowe's share price decreased by 0.1% through December 15, 2025, while the S&P 500 appreciated by 15.6% [3]. - Including dividends, Lowe's total return was 2.8%, significantly lower than the S&P 500's total return of 17.3% [3]. - The company's market capitalization stands at $135 billion, with a current share price of $240.44 [4]. Group 2: Sales and Financial Metrics - Lowe's reported positive same-store sales over recent quarters, but fiscal third-quarter comps only increased by 0.4% [5]. - The increase in comps was driven by higher spending, with the average ticket contributing 3.4 percentage points, while traffic decline accounted for a 3 percentage point drop in comps [5]. - The gross margin for Lowe's is 31.42%, and the dividend yield is 1.95% [4][5]. Group 3: Economic Factors Influencing 2026 - Lowe's sales are closely tied to the overall economy, as consumers are more likely to undertake home improvement projects when they feel economically secure [6]. - Key economic indicators to monitor include new and existing home sales, as these typically lead to increased remodeling projects [7]. - Interest rates, particularly long-term Treasury yields and short-term rates set by the Federal Reserve, will impact mortgage rates and home equity loans, affecting homebuying and renovation financing [8]. Group 4: Employment and Consumer Confidence - Employment trends show signs of weakness, which could deter consumer spending at Lowe's for significant projects [9]. - Consumer confidence is crucial; higher confidence levels typically lead to increased spending, which can boost economic growth [9]. Group 5: Strategic Initiatives - Lowe's is focusing on the professional contractor market, having made significant acquisitions, including Foundation Building Materials for $8.8 billion and Artisan Design Group for $1.3 billion [10]. - Management's commentary on progress in the professional contractor segment and sales growth in this market will be important to monitor [10].