Shopify, Inc. (NASDAQ: SHOP )(TSX: SHOP:CA ) is an online e-commerce platform that offers a suite of tools for individuals and businesses to create and manage their online stores. SHOP allows users to create their ownDear Reader,I am a Senior Derivatives Expert with over 10 years of experience in the field of Asset Management, specializing in equity analysis and research, macroeconomics, and risk-managed portfolio construction. My professional background covers both institutional and private client asset ma ...

Core Insights - Shopify, Inc. is an online e-commerce platform that provides tools for individuals and businesses to create and manage their online stores [1] Company Overview - Shopify allows users to create their own online stores, offering a suite of tools tailored for e-commerce [1] Analyst Background - The analyst has over 10 years of experience in asset management, focusing on equity analysis, macroeconomics, and risk-managed portfolio construction [1] - The analyst has navigated various market conditions and emphasizes the importance of understanding macro trends in influencing asset prices and investor behavior [1] Investment Philosophy - The goal of sharing insights is to make investing accessible and empowering, encouraging collaboration among investors [1]

Market Overview - U.S. equity markets continued to rise in Q3, with the Russell 1000 Growth Index increasing by 10.5% and achieving 24 new all-time highs [3] - The S&P 500 rose by 8.1%, the Nasdaq 100 advanced by 11.2%, and the Dow Jones Industrial Average increased by 5.2% [3] - The rally was largely driven by significant infrastructure investments in the AI sector, including a $90 billion plan announced by President Trump and various multi-billion dollar partnerships among major AI companies [3] Economic Impact - Deutsche Bank estimates that tech spending, primarily in AI, will contribute approximately 1-1.5 percentage points to U.S. GDP growth in 2025 [3] - The U.S. government has been running around $2 trillion in fiscal deficits for the first 11 months of FY-2025, which, along with easing monetary policy, has supported equity market performance [3][6] Monetary Policy - The Federal Reserve cut the Federal Funds rate by 25 basis points to a range of 4.00%-4.25% in mid-September, with a more accommodative policy outlook for the coming years [6] - The Fed's median projection for the fed funds rate in 2025 has decreased to 3.6% from 3.9% [6] Sector Performance - Ithaka's portfolio underperformed the Russell 1000 Growth Index by 940 basis points in Q3, with stock selection and sector allocation negatively impacting performance [8] - Positive relative returns were generated in the Financial Services sector, while Technology and Consumer Discretionary sectors were the largest sources of underperformance [9] Key Contributors and Detractors - Top contributors included NVIDIA (18.0% return impact), Robinhood Markets (52.9%), and Shopify (28.8%) [10] - Major detractors were ServiceNow (-10.5%), Chipotle Mexican Grill (-24.6%), and Intuitive Surgical (-17.7%) [10] AI Investment Landscape - The AI infrastructure buildout is projected to reach $400 billion to $600 billion in 2025, with U.S. hyperscalers expected to account for $300 billion to $350 billion of this total [18] - The current wave of AI-driven capital expenditures is compared to historical infrastructure projects, indicating a significant shift in technology investment [18] Future Outlook - The ongoing AI buildout may redefine human interaction across various sectors, with companies viewing this as a once-in-a-generation opportunity [18][21] - Early productivity gains from AI implementations have shown efficiency improvements of 20%-50% in key business operations [20]

Shopify Inc. (NASDAQ:SHOP) is one of the best performing NASDAQ stocks according to hedge funds. On October 3, Rothschild Redburn lifted its price target for Shopify to $200 from $180 and maintained a Buy rating. The change is linked to Shopify’s partnership with OpenAI’s ChatGPT, which gives Shopify merchants access to a new online sales channel powered by AI. The firm expects ChatGPT to accelerate online sales for “functional retail goods” by acting as a virtual in-store personal advisor, which is compar ...

Group 1: Shopify Inc. (SHOP) - Shopify continues to innovate in the e-commerce space with new tools and global reach, but faces high scrutiny due to its growth profile [2][7] - In Q2, Shopify reported revenue of $2.68 billion, a 31% year-over-year increase, and provided guidance for Q3 revenue growth in the mid-to-high 20% range [7] - The company is leveraging artificial intelligence to enhance its platform, launching tools for product descriptions, marketing, and analytics [7] - Shopify's international expansion is gaining momentum, particularly in Europe and Southeast Asia, which could support revenue growth [7] - Risks include potential consumer spending downturns, competitive pressures from Amazon and other platforms, and elevated valuation multiples compared to peers [7] Group 2: Lockheed Martin Corporation (LMT) - Lockheed Martin is a major U.S. defense contractor with long-term programs in air, space, and missile systems, benefiting from sustained U.S. defense budgets and geopolitical tensions [5][8] - The S&P Aerospace & Defense Select Industry Index has increased by 54.9% over the past year, significantly outperforming the S&P 500 Index's 21.5% gain [5] - Lockheed reported its largest backlog in company history, driven by F-35 fighter jet orders and other defense contracts, providing multi-year revenue visibility [8] - Geopolitical tensions in regions like Eastern Europe and the South China Sea are likely to increase defense spending among NATO and partner nations, benefiting Lockheed [8]

Core Insights - The US equity markets maintained strong momentum in Q3 2025, primarily driven by enthusiasm for generative AI and the semiconductor sector, despite challenges such as high tariffs and inflation [5][6][7] - The Polen Focus Growth Portfolio returned 3.3% in Q3 2025, underperforming compared to the Russell 1000 Growth Index's 10.5% and the S&P 500's 8.1% [15][5] - Significant contributors to the portfolio's performance included Oracle, Shopify, and Alphabet, while detractors included Apple, NVIDIA, and Tesla [15][16] Economic Context - The US economy grew at a revised annual rate of 3.8% in Q2 2025, with technology capital expenditures, particularly in AI, contributing significantly to this growth [8][11] - Oracle reported a 359% increase in remaining performance obligations, indicating strong demand for cloud computing and AI infrastructure [9][10] Sector Performance - AI-driven sectors, especially semiconductors, outperformed, while traditionally defensive sectors like healthcare and consumer staples lagged [5][13] - The market has bifurcated companies into "AI winners or losers," leading to performance dispersion [5][13] Portfolio Activity - New positions were initiated in Broadcom and Boston Scientific, while positions in Gartner and Thermo Fisher Scientific were exited [23][36] - The portfolio saw increased investments in Starbucks, ServiceNow, and CoStar Group, while trimming positions in Netflix, Alphabet, and Visa [23] Future Outlook - The focus remains on durable, high-quality businesses, with expectations of mid-teens earnings growth over the long term [5][38] - The demand for AI-related infrastructure is anticipated to continue, with companies like NVIDIA and Broadcom expected to generate earnings growth of approximately 20% per annum over the next 3-5 years [30][27]

Core Insights - Shopify is emerging as a significant player in the e-commerce sector, providing a comprehensive ecosystem for businesses to start and grow, alongside Amazon [1]. Group 1: Stock Performance - Shopify shares have experienced a remarkable increase of 499% over the past three years, turning an initial investment of $1,000 into nearly $6,000 [3]. - The stock is currently less than 4% off its all-time high of $169.06, reached in November 2021 [3]. Group 2: Financial Performance - In the second quarter, Shopify processed $87.8 billion in gross merchandise sales, representing an 87% increase compared to the same period in 2022 [4]. - The significant growth in gross merchandise sales has led to soaring revenue for Shopify [4]. Group 3: Innovation and Valuation - Shopify is continuously innovating, particularly with the integration of artificial intelligence features that enhance customer benefits [4]. - Despite the strong performance, Shopify shares are currently trading at 84 times trailing earnings, indicating that they may no longer be considered a bargain [4].

Shopify Inc. (NASDAQ:SHOP) is one of the stocks that Jim Cramer expressed thoughts on. Answering an investing club member’s query about the stock during the lightning round, Cramer commented: “Let me tell you something… That stock’s going much higher. And they, by the way, the service that they provide is perfect.” Shopify Photo by Charles Deluvio on Unsplash Shopify Inc. (NASDAQ:SHOP) provides a commerce platform that helps businesses manage sales, payments, fulfillment, and customer engagement acros ...

After a significant decline in 2022, this stock has surged 456% over the past three years.During the five-year period leading up to its all-time high in November 2021, shares of Shopify (SHOP -7.85%) had surged 3,740% higher. The business was lifted by the pandemic as online shopping saw huge demand. This e-commerce stock might've diverged from reality, though.Shares tanked in 2022, but now they're back on the upswing. In the past three years, the stock has rocketed 456% higher (as of Oct. 10). Why is Wall ...

Key Points OpenAI will allow Shopify's merchants to sell products through ChatGPT for a fee. Shopify is one of two e-commerce companies with which OpenAI is partnering -- so far. There are additional reasons to be upbeat about Shopify's prospects ahead. 10 stocks we like better than Shopify › Shopify (NASDAQ: SHOP) has been on fire in 2025. Its strong financial results have helped lift shares by 52% year to date, and the stock recently jumped following the announcement of a new partnership with Op ...