Core Viewpoint - Rigetti Computing is experiencing significant challenges in the quantum computing sector, particularly regarding accuracy and technology advancement, despite a recent rise in stock price and some positive analyst ratings [1][8]. Company Performance - Rigetti's stock price has seen a notable increase of over 45% in 2025 and more than 10% in 2026, but current market sentiment suggests caution [1][2]. - The current stock price is $23.45, with a market capitalization of $7.7 billion [2]. Technology and Competitiveness - Rigetti's quantum computing systems are reported to be over 1,000 times faster than those of competitor IonQ, but the company struggles with accuracy, achieving a two-qubit gate fidelity of only 99.5%, compared to IonQ's 99.99% [2][4]. - The company has not advanced to Stage B of the Quantum Benchmarking Initiative by DARPA, indicating a setback in its technological standing [5]. Challenges in Quantum Computing - Quantum computing systems, including those from Rigetti, are highly error-prone due to the instability of qubits, which are susceptible to external factors like vibrations and temperature changes [3]. - Rigetti's delay in launching its new 108-qubit Cepheus-1-108Q system is aimed at improving its error rate, highlighting ongoing challenges in achieving reliable performance [5]. Analyst Sentiment - Some analysts have expressed optimism about Rigetti, with Rossenblatt Securities initiating coverage with a "buy" rating and B. Riley upgrading the stock following an $8.4 million order from India's Centre for Development of Advanced Computing [7]. - Despite these positive mentions, the overall assessment suggests that Rigetti remains significantly behind its competitors in the quantum computing race [8].

Core Insights - The Schwab U.S. Dividend Equity ETF (SCHD) offers a pathway to potentially reach $800,000 through consistent investments over time, emphasizing the importance of patience in investing [1][5]. Investment Rationale - SCHD tracks the Dow Jones U.S. Dividend 100 Index, focusing on companies with financial stability and strong cash flow, which results in a portfolio of reliable, established businesses rather than high-growth, volatile firms [3]. - The ETF's top five holdings include Lockheed Martin (4.63%), Chevron (4.19%), Merck & Co. (4.11%), Home Depot (4.07%), and Bristol Myers Squibb (4.05%), showcasing a focus on sectors like energy and industrials [3]. Performance Metrics - Since its inception in October 2011, SCHD has averaged annual total returns of 12.6%, with projections indicating that a monthly investment of $500 could grow to over $800,000 in approximately 25 years, assuming a consistent 12% annual return [5][6]. - The ETF has maintained an average dividend yield of around 2.8% since inception and 3.2% over the past decade, suggesting that an $800,000 investment could yield $24,000 annually [6].

Core Insights - TJX Companies has demonstrated strong resilience in the off-price retail sector despite macroeconomic challenges [1][3] - The company's effective inventory acquisition strategy allows it to provide name-brand products at lower prices, which has supported customer traffic and sales growth [2][3] Financial Performance - TJX stock has appreciated approximately 24% over the past year, with same-store sales increasing by 5% year-over-year in fiscal Q3 [2][3] - Gross margin improved to 32.6% from 31.6%, indicating effective cost management [2] Market Position - While other retailers are experiencing declining traffic and margins, TJX's sourcing strategies and infrastructure have proven advantageous [3][6] - The company is well-positioned to capitalize on the difficulties faced by competitors in the retail industry [6] Valuation Metrics - TJX has a market capitalization of $170 billion and trades at about 33 times this year's expected earnings [5] - The stock's dividend yield is approximately 1.1%, which may not be attractive for income-focused investors [5][6]

Core Insights - Artificial intelligence (AI) is viewed as a potential growth catalyst for businesses, with generative AI expected to enhance productivity and reduce overhead costs [1] - There is a prevailing belief among investors that a single powerful AI tool could replace multiple enterprise software packages, leading to a decline in share prices for many software stocks [2] Group 1: ETF Performance and Components - The iShares Expanded Tech-Software Sector ETF (IGV) has experienced an 18% decline from its peak last fall, yet revenue growth among its components remains strong, indicating a net positive impact from AI [3] - The ETF includes major companies benefiting from AI excitement, such as Microsoft, Palantir Technologies, and Oracle, which together represent about 25% of the ETF's value [4] - Other top holdings like Salesforce, Intuit, and Adobe have faced negative impacts on their earnings multiples due to fears of AI displacing their software [5] Group 2: AI Integration and Market Sentiment - Concerns regarding the displacement of enterprise software by generative AI applications are considered exaggerated, as specialized software remains essential for specific tasks [6] - Most software providers are actively integrating AI capabilities into their products, enhancing competitiveness and increasing revenue per seat [8] - Companies like Microsoft and Palantir have seen significant sales growth from integrating generative AI into their offerings, with Palantir's AI Platform rapidly expanding its use cases [9] Group 3: Investment Opportunities - For investors seeking exposure to the software industry, the iShares ETF offers a straightforward investment option, especially as the current narrative around AI may shift towards tangible financial results [10]

Core Viewpoint - Amazon's success heavily relies on its cloud computing division, Amazon Web Services (AWS), which is expected to drive stock performance in 2026 after a challenging 2025 due to high valuation concerns [1][2]. Group 1: AWS Performance - AWS is starting to reaccelerate its growth, with a revenue increase of 20% year over year in Q3, marking the best growth rate in several years [6]. - Despite AWS accounting for only 18% of Amazon's total sales, it generated 66% of the company's operating profits in Q3, highlighting its importance to overall profitability [4][6]. - The cloud computing segment has strong operating margins, reported at 35% in Q3, contrasting with the thin profit margins typical in retail [4]. Group 2: Valuation and Market Position - Amazon's stock valuation has improved, now trading at 29 times forward earnings, aligning it more closely with other major tech stocks, which typically trade around 30 times forward earnings [8]. - The stock gained only 5% in 2025, but with the valuation issue resolved, there is optimism for a stronger performance in 2026 [2][7]. - The current market cap of Amazon is $2.6 trillion, with a gross margin of 50.05%, indicating a robust financial position [6].

Core Viewpoint - Berkshire Hathaway may be divesting its stake in Kraft Heinz, indicating a strategic shift under new CEO Greg Abel, potentially addressing past investment missteps by Warren Buffett [1][2]. Company Overview - Berkshire Hathaway's portfolio is valued at $267 billion, with Kraft Heinz being the ninth-largest holding, representing approximately 3.2% of the portfolio [2]. - Berkshire Hathaway owns about 325 million shares of Kraft Heinz, valued at approximately $8.5 billion, making it the largest shareholder with a 27.5% ownership stake [2]. Kraft Heinz Performance - Kraft Heinz's stock price has significantly declined from over $90 per share in 2017 to around $22.40 per share, reflecting a 10-year average annualized return of about -11% [8]. - The company has faced challenges since its merger in 2015, which was initially valued at $46 billion, and has been described as "doomed from the start" due to various issues [5][7]. Recent Developments - Kraft Heinz filed an 8-K document indicating the potential resale of up to 325,442,152 shares by Berkshire Hathaway, which would represent the entirety of its position [4]. - The decision to potentially sell comes after Kraft Heinz announced a split back into two separate public companies, a move that disappointed Buffett [9][10].

Core Insights - The Schwab International Equity ETF (SCHF) and SPDR Portfolio Developed World ex-US ETF (SPDW) are designed to provide broad exposure to developed markets outside the United States, with both funds maintaining low expense ratios of 0.03% [4][7][8] - SCHF holds 1,499 stocks with a sector mix of 25% financial services, 18% industrials, and 12% technology, while SPDW holds 2,390 stocks with a sector mix of 23% financial services, 19% industrials, and 11% technology [1][2] - SCHF has a slightly lower beta of 0.86 compared to SPDW's beta of 0.88, indicating that SCHF is marginally less volatile [5][7] Fund Characteristics - SCHF has approximately $58 billion in assets under management (AUM), while SPDW has around $35 billion in AUM, suggesting a significant size difference [8] - The top holdings for SCHF include Asml Holding Nv, Samsung Electronics Ltd, and Roche, while SPDW's top holdings are Roche Holding Ag, Novartis Ag, and Toyota Motor Corp [1][2] - Both funds have experienced a maximum drawdown of about -30% over the same period, indicating similar risk profiles [7] Performance Metrics - Over the last five years, a $1,000 investment in SCHF would have grown to $1,593, while the same investment in SPDW would have grown to $1,567, showing that SCHF has outperformed SPDW in terms of growth [5] - SCHF offers a marginally higher dividend yield compared to SPDW, making it more attractive for income-focused investors [3][5]

Group 1: D-Wave Quantum - D-Wave Quantum is making significant strides in the quantum computing industry, focusing on both quantum annealing and gate-model systems [1] - The company has started generating revenue in the annealing space, but the quantum computing sector is still in its early growth stages, with general usefulness potentially years away [2] - D-Wave's stock has experienced a dramatic increase, rising in quadruple digits over the past three years as investors seek early opportunities in quantum computing [2][9] Group 2: Alphabet Inc. - Alphabet, the parent company of Google, dominates the search engine market with a 90% market share, which has been a key driver of its substantial advertising revenue [6] - The company also generates significant revenue from its cloud computing segment, which has been bolstered by the rise of artificial intelligence, providing various solutions for AI implementation [7] - In the latest quarter, Google Cloud revenue surged by 34% to $15 billion, contributing to Alphabet's overall revenue exceeding $100 billion for the first time in a single quarter [8]

Core Insights - GameStop Corp. is currently in the spotlight due to a trade-in loophole and significant insider buying by CEO Ryan Cohen [1] Infinite Money Glitch - A YouTuber exposed a loophole involving the Nintendo Switch 2 that allowed customers to gain store credit by trading in the console [2] - Customers could buy a Nintendo Switch 2 for $414.99 and trade it back in with a cheap pre-owned game, triggering a promotional multiplier [2] - This promotion erroneously increased the trade-in value of the console to $472.50, resulting in a profit of approximately $57 per cycle [3][4] Company Response - GameStop confirmed the existence of the glitch and stated that it has been patched, emphasizing that their stores are not intended to function as "infinite money printers" [4] Insider Buying - CEO Ryan Cohen purchased 1 million shares of GameStop this week, with 500,000 shares bought on Tuesday and another 500,000 on Wednesday at an average price of about $21.40 [5] - This $21 million investment increases Cohen's total stake in GameStop to approximately 9.3%, or 42.1 million shares [6] - Cohen's buying activity has positively impacted investor sentiment, leading to a 10% increase in the stock price for the week [6] Market Sentiment - The anniversary of Keith Gill, known as "Roaring Kitty," has sparked nostalgia and discussions on social media, contributing to the meme stock status of GameStop [7] - The combination of the trade-in glitch and Cohen's significant purchases has reinforced GameStop's position in the meme stock market [7]

Core Insights - The SPDR Portfolio Developed World ex-US ETF (SPDW) and Vanguard Total International Stock ETF (VXUS) provide broad international exposure, with SPDW focusing on developed markets and VXUS including both developed and emerging markets [2] Cost & Size Comparison - VXUS has an expense ratio of 0.05% and AUM of $573.72 billion, while SPDW has a lower expense ratio of 0.03% and AUM of $35.07 billion [3] - The 1-year return for VXUS is 31.69% compared to SPDW's 32.6%, and the dividend yield for VXUS is 3.02% versus SPDW's 3.14% [3][4] Performance & Risk Metrics - Over five years, VXUS has a max drawdown of -29.43% and a growth of $1,000 to $1,256, while SPDW has a max drawdown of -30.20% and a growth of $1,000 to $1,321 [5] Holdings Overview - SPDW holds 2,413 stocks with a sector tilt towards financials, industrials, and consumer cyclical, featuring top holdings like ASML Holding N.V., Samsung Electronics, and Roche Holding AG [6] - VXUS is broader with 8,673 holdings, including top positions such as Taiwan Semiconductor Manufacturing Company Ltd., Tencent Holdings Ltd., and ASML Holding N.V. [7] Investor Considerations - International stocks in these ETFs may exhibit different price movements compared to U.S. stocks, influenced by the economic and political conditions of the respective countries [8] - SPDW's top holdings are primarily European, while VXUS has a significant presence in Asian companies, indicating different regional exposures [10]