Core Viewpoint - Retail investors are increasingly favoring five members of the "Magnificent Seven" and a popular ETF for investment in 2026, reflecting a significant shift in market dynamics driven by the rise of retail investing [1][3]. Group 1: Retail Investor Trends - Approximately 30 million retail investors opened new brokerage accounts in 2020 and 2021, with retail investors accounting for 25% of total equities trading volume in 2021, nearly double the share from the previous decade [3]. - Brokerage firms, particularly Robinhood, have successfully attracted retail investors through commission-free trades and fractional share purchases [5]. Group 2: Key Stocks - Nvidia is the most held stock on Robinhood, with shares rallying 1,200% since the beginning of 2023, driven by its dominance in AI-related GPU technology [6][7]. - Tesla, with close to 1.8 million deliveries in 2023 and 2024, remains a favorite due to its first-mover advantage in the EV market, although it is considered a risky investment due to its high valuation and unfulfilled promises from its CEO [11][12]. - Apple has maintained a significant market share in the U.S. smartphone market, with a loyal customer base and a strong capital-return program, but its high P/E ratio raises concerns about its valuation [15][17]. - Amazon is projected to account for over 40% of U.S. e-commerce market share by 2025, with its cloud service, AWS, generating significant operating income, enhancing its growth potential [20][21]. - Microsoft is focusing on cloud computing and AI integration, with Azure experiencing 40% sales growth in the fiscal first quarter, although its legacy segments continue to provide stable cash flow [25][27]. Group 3: Popular ETF - The Vanguard S&P 500 ETF is the most popular ETF among retail investors, aiming to mirror the performance of the S&P 500, which has averaged an annual return of roughly 10.5% over the last 30 years [29][30]. - The ETF features a low net expense ratio of 0.03%, making it an attractive option for investors seeking diversification [31].

Core Viewpoint - The surge in demand for data storage driven by artificial intelligence has significantly boosted Kioxia Holdings Corp.'s stock performance, highlighting the ongoing AI boom despite market fluctuations [1]. Group 1: Stock Performance - Kioxia's shares have increased approximately 540% year-to-date, outperforming all other members of the MSCI World Index and becoming the top stock in Japan's Topix benchmark for 2025 [2]. - The company's market valuation has reached about ¥5.7 trillion, following its debut on the Tokyo Stock Exchange last December [2]. Group 2: Industry Demand - The tech industry's demand for memory chips is surging as hyperscalers expand their AI infrastructure, with Kioxia's chips being crucial for AI training and data centers [3]. - Analysts predict a significant increase in memory prices due to a supply crunch amid soaring demand from major tech firms [3]. Group 3: Future Outlook - Investors are optimistic about Kioxia's revenue growth driven by solid demand and rising prices, with expectations that the memory rush will continue into 2026 [4]. - Other companies in the semiconductor supply chain, such as chip wafer makers like Sumco Corp., are also expected to benefit from the strong memory demand [4]. Group 4: Market Concerns - Despite the strong stock performance, there are concerns regarding potential overvaluation, which has affected other AI-related stocks [5]. - Kioxia's stock experienced a 23% drop in a single day after its quarterly earnings fell short of investor expectations in November [5]. Group 5: Supply Dynamics - The current demand for memory is significantly outpacing supply, positioning Kioxia favorably to navigate potential market uncertainties in 2026 [6]. - Concerns about a slowdown in data center investments are not expected to impact memory prices in the near term, as the market remains heavily undersupplied [6].

Core Insights - Small business owners, once a strong support base for President Trump's policies, are now facing significant challenges during his second term, with economist Paul Krugman labeling 2025 as a "miserable year" for them and predicting that 2026 will be even worse [1][2]. Impact of Policies - The combination of Trump's tariffs and strict immigration enforcement has created substantial operational difficulties for small business owners, particularly those reliant on imported goods and foreign labor [3][4]. - High tariffs have severely affected companies that depend on imports, while mass arrests of immigrants have disrupted businesses like construction that rely on foreign workers [4]. Disparities Between Small and Large Businesses - Large corporations have been better equipped to navigate these challenges by finding alternative suppliers and leveraging political influence, unlike small businesses that lack such advantages [4][5]. - The shift towards crony capitalism under Trump's administration has further marginalized small businesses, which do not have the political connections to secure exemptions from tariffs [5]. Rising Costs and Health Care Issues - Increasing health care costs are compounding the pressures on small businesses, with nearly half of adults receiving government health insurance either owning or working for small businesses, making the expiration of federal subsidies particularly impactful [6]. Consequences of Tariff Policies - Numerous small businesses have faced unsustainability and bankruptcy due to the effects of Trump's tariffs on India and China, leading to heightened input costs and canceled contracts [7]. - Over 90% of U.S. exporters are small or family-owned businesses, and the uncertainty surrounding tariff policies is causing significant distress among these entities [8].

All right, in the meantime, Wed Bush Securities today out with its top tech names to own into next year. Among them, Microsoft, Apple, Tesla, Palunteer, Crowdstrike. One name that you're not seeing on that list, Nvidia.Dan Ives behind the call. He is the global head of technology research. And I have to issue the biggest correction in the history of my career, which is now that you're in the light, that that jacket is not McLaren Papaya.It is, I would dare say, peach. I look I mean I I'll take both sides ag ...

Core Insights - The market is increasingly punishing major AI spenders that lack clear returns, leading to a recommendation to reduce exposure to the "MAG seven" stocks due to rising capital expenditures and talent costs impacting margins and earnings [1] - Hyperscalers have issued $121 billion in new debt this year, which is four times the five-year average, indicating that their buildout is exceeding internally generated cash [2] - Meta is investing heavily in data centers and AI talent, but its AI model, Llama, holds only about a 10% share of the enterprise market, where significant AI revenue and margins are concentrated [3] Company-Specific Insights - Alphabet has seen a 65% increase in stock value, attributed to its comprehensive ownership of the tech stack, including chips, cloud, distribution, and a leading AI model, while Tesla's forward PE is significantly higher at 320 [4] - Apple, while currently lagging, has a vast distribution network with 2.3 billion active devices, which could position it competitively in the AI space by 2026 [5] - Microsoft is falling behind in chip development and competitive in-house large language models (LLMs), relying heavily on OpenAI's models and partnerships [7] Market Dynamics - The convergence of AI models is making distribution more critical than the quality of the models themselves, which could favor companies with strong distribution capabilities [3] - Concerns are rising regarding the reliance on single customers for revenue, as seen with Oracle's significant backlog tied to a deal with OpenAI worth $300 billion [11] - Microsoft has a $300 billion commitment from OpenAI for Azure services, but there are worries about OpenAI's ability to meet its commitments across multiple partners, totaling over $1.4 trillion in compute commitments [13]

Does Apple Intelligence still matter for the stock? For a start, we will likely have to wait till at least spring 2026 for snippets of what Apple has up itsJR Research is an opportunistic investor. He was recognized by TipRanks as a Top Analyst. He was also recognized by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above ...

All right, it's been another solid year for the Mag 7 collectively. The CNBC index that tracks those mega cap names up more than 25%. But as Mackenzie Sagales reports, there's a growing disparity between the halves and the have nots within the Mag 7.The Mag 7 trade is splintered this year, and 2026 could widen that gap even further. We're looking at a roughly 60 percentage point spread between the best and worst performers. Alphabet up 65%, Amazon just 5 a.5% with the market now differentiating based on who ...

Core Insights - The market has shifted from treating the "Magnificent Seven" tech companies as a unified group to evaluating them individually based on their ability to monetize AI investments [1] - Alphabet leads with a significant advantage due to its AI chip distribution and LLM Gemini, outperforming competitors in key benchmarks [2] - Nvidia has become the world's most valuable public company, with over 40% growth, driven by its role in the record-breaking data center buildout [2] Winners - Alphabet is recognized for its strong position in AI, with a 60 percentage point lead in credibility across the tech stack [1] - Nvidia's growth and valuation are attributed to its foundational role in AI infrastructure, particularly in data centers [2] Laggards - Amazon, while maintaining the largest cloud business, is experiencing slower growth in AWS compared to Azure and Google Cloud, raising concerns about its in-house AI chip's adoption [3] - Meta lacks a cloud service and a clear revenue model linked to its AI investments, making it difficult to justify its ROI to investors [4] - Apple is focusing on consumer distribution rather than infrastructure, which may impact its competitive position if AI model quality continues to converge [5] Market Dynamics - Capital expenditure (capex) for top hyperscalers exceeded $400 billion this year, with projections suggesting it could surpass $600 billion next year, primarily for AI infrastructure [6] - Apple is spending significantly less on AI infrastructure, around $3 billion in the most recent quarter, indicating a potential gap in investment compared to competitors [7] - Azure has a future performance obligation of $400 billion, compared to Amazon's $200 billion, highlighting where enterprises are placing their bets [8]

Apple has been lagging in the AI race compared to the other tech giants. While other tech giants have raced ahead with improved AI chatbots, video-generating apps, and much advanced AI models, Apple ... ...

Core Viewpoint - Apple has demonstrated resilience in its stock performance throughout 2025, achieving a year-to-date gain of 12.1% despite market volatility [1][4]. Stock Performance - Apple's stock closed at $273.40 on December 29, 2025, up from approximately $243.85 at the beginning of the year [1]. - An investment of $1,000 at the start of 2025 would now be worth about $1,121, reflecting a gain of approximately $121 [3]. Market Dynamics - The stock experienced a dip below $200 during a market pullback in Q1 but gradually recovered, with significant gains in the second half of the year [4]. - By November, AAPL shares reached new highs above $280 before slightly consolidating at year-end, indicating strong investor demand for Apple's defensive characteristics [5]. Revenue and Growth Drivers - Apple's performance has been supported by growth in its high-margin services segment and ongoing share repurchases, which have stabilized earnings and investor sentiment [6]. - Despite mixed hardware demand, recurring revenue from subscriptions, payments, and digital services has been crucial for maintaining performance [6]. Capital Return Strategy - The company has maintained an aggressive capital return strategy, which serves as a long-term benefit for shareholders, especially during uncertain market conditions [7]. Analyst Outlook - Analysts view Apple as a core long-term holding heading into 2026, with expectations for moderate growth compared to AI-centric stocks [8]. - Apple's pricing power, brand strength, and ecosystem lock-in continue to attract institutional capital, positioning it as a defensive anchor within technology portfolios [9].