The Dutch company ASML Holding N.V. (NASDAQ: ASML ) is the foundation of the entire global technology industry! But this foundation is now worth only $296 billion with a P/E of 26. But the market, in my opinion, incorrectlyI started trading on the Moscow Exchange in 2005 as a private trader. Since 2010, I have been a financial markets analyst. I worked as an analyst in several brokerage companies in Russia and then in Ukraine since 2018. I also worked for a leading financial media outlet in Ukraine, coverin ...

Financial Data and Key Metrics Changes - BHP achieved a record iron ore and copper production in the 2025 financial year, with copper production exceeding 2 million tons, reflecting a 28% volume growth over the past three years [4][21] - The underlying EBITDA margin remained healthy at 53%, maintaining an average margin exceeding 50% over the past twenty years [8][10] - The company incurred almost $10 billion in taxes and royalties against an underlying attributable profit of $10.2 billion, with a final dividend of $0.60 per share, resulting in a full year dividend of $5.6 billion [9][10] Business Line Data and Key Metrics Changes - Western Australia Iron Ore demonstrated a strong performance with record production and shipments, achieving an EBITDA margin of 63% and C1 costs of $17.29 per tonne, making it the lowest cost major iron ore producer globally [11][12] - In copper, BHP generated a record $12 billion of EBITDA, accounting for 45% of the group total, with an impressive margin of 59% [13] - Copper South Australia produced over 300,000 tonnes of copper in each of the last two years, with plans to double copper production [36] Market Data and Key Metrics Changes - China and India showed resilient economic and commodity demand growth, with China exceeding economic growth expectations and India projected to remain the fastest growing major economy [21][22] - The global focus on critical mineral supply and supply chain security is increasing, reflecting the mining sector's role in supporting national security and energy transition [23] Company Strategy and Development Direction - BHP's strategy focuses on being in highly attractive commodities with resilient demand and steep cost curves, optimizing for risk, value, and growth [2][3] - The company plans to sequence projects to enhance value and deliverability, with a revised capital and exploration spend target of around $11 billion for FY 2026 and 2027, which is $1 billion lower than previous guidance [18][39] - BHP aims to maintain a strong balance sheet and pay a minimum dividend of 50% of underlying attributable profit each reporting period [15] Management's Comments on Operating Environment and Future Outlook - The management noted that while global economies face policy uncertainty, demand for commodities remains resilient, particularly in China and India [21][22] - BHP expects to meet its 2030 target for operational greenhouse gas emissions despite a slowdown in the pace of development of decarbonization technology [17][20] Other Important Information - BHP contributed almost $47 billion globally through wages, taxes, royalties, community contributions, and payments to suppliers and shareholders [5] - The company achieved gender balance in its global workforce, with female representation at 41.3% [5] Q&A Session Summary Question: What are the expectations for copper production growth? - BHP's aspiration to double copper production remains unchanged, with stable operational performance supporting this growth [36] Question: How is BHP addressing the challenges in project execution? - The company is learning from experiences like the Janssen project to improve planning and execution, while maintaining a good track record of delivering major projects on time and budget [31] Question: What is BHP's outlook on the iron ore market? - BHP expects Chinese steel production to plateau and eventually decline, focusing on improving performance and reducing costs to sustain margins [32]

BHP Group (BHP) H2 2025 Earnings Call August 18, 2025 06:00 PM ET Speaker0Hello and thank you for joining us to hear about BHP's results for the 2025 financial year. I am joined by our Chief Financial Officer, Bandita Pant. This year again demonstrated BHP's resilience, strength and operational excellence. Our strategy remains clear and simple. We choose to be in highly attractive commodities with resilient demand and steep cost curves.We own world class assets that are large, long life, low cost and with o ...

Core Concept - The article discusses investment strategies focusing on identifying companies with strong potential for growth while avoiding those likely to decline, particularly in the context of the basic materials sector and the impact of the AI revolution. Group 1: Investment Strategies - The concept of avoiding poorly rated companies can lead to better investment returns, as evidenced by the performance of S&P 500 companies rated by Moody's in 2020 [3][10]. - Eric Fry's presentation emphasizes the importance of selecting stocks that are expected to rise while avoiding those that are likely to fall, particularly in an era characterized by rapid changes in the market [4][31]. Group 2: Basic Materials Sector Analysis - Tronox Holdings PLC (TROX) is highlighted as a key player in the titanium dioxide market, which is cyclical and dependent on demand from industries like automotive and construction [7][8]. - Despite current low trading prices for Tronox shares, there is optimism for recovery due to ongoing demand for titanium dioxide, supported by recent insider buying [9][12][13]. - The article contrasts Tronox with Alliance Resource Partners LP (ARLP), which is facing challenges due to high extraction costs in the coal industry and declining earnings [22][25][29]. Group 3: Market Trends and Future Outlook - The demand for lithium-ion batteries is expected to rise significantly due to advancements in AI technology and the shift from traditional energy sources [18][21]. - Albemarle Corp. is positioned to benefit from this trend, with a strong balance sheet and low-cost assets, while ARLP is likely to struggle against cheaper competitors and market dynamics [21][30].

Industry Overview - The U.S. service sector exhibited strong momentum in Q1 2025, driven by economic stability and growth in non-manufacturing activities, with key growth factors including the AI revolution, demand for cost efficiency, and regulatory compliance [1][2] - Multiple service industries such as transportation, warehousing, retail, finance, and healthcare showed resilience and healthy activity, highlighting the sector's role in economic stability and growth [2] Economic Performance - The U.S. GDP grew by 3% in Q2 2025, a significant recovery from a 0.5% decline in Q1, with non-manufacturing activities remaining robust as indicated by a Services PMI of 50.8% in July, signaling expansion [4] - Essential services like waste management saw steady demand, while risk mitigation and consulting services gained importance due to evolving regulations, leading to increased demand for specialized service providers [5] Earnings Outlook - PagSeguro Digital (PAGS) is expected to report Q2 2025 revenues of $898.6 million, reflecting a year-over-year growth of 2.8%, with earnings estimated at 31 cents per share, indicating a 3.2% decline year-over-year [9] - Bit Digital (BTBT) is projected to report Q2 2025 revenues of $25.4 million, showing a year-over-year decline of 12.4%, with an estimated loss of 3 cents per share, representing a 200% widening year-over-year [11] Stock Performance Indicators - PAGS has an Earnings ESP of +8.20% and a Zacks Rank of 2, scheduled to announce results on August 14 [10] - BTBT has an Earnings ESP of +20.00% and a Zacks Rank of 3, also set to report on August 14 [12]

Group 1 - The investment approach has received over 500 five-star reviews, indicating high satisfaction among members who are experiencing benefits [1] - The company invests significant resources, over $100,000 annually, into researching profitable investment opportunities, particularly in real estate strategies [1] - Current economic conditions show high interest rates and a potential recession, alongside an impending AI revolution that may significantly impact the market [1] Group 2 - Jussi Askola leads the High Yield Landlord investing group, providing real-time insights into his REIT portfolio and transactions [2] - The group offers features such as multiple portfolios (core, retirement, international), buy/sell alerts, and direct access to analysts for inquiries [2] - Jussi Askola is the President of Leonberg Capital, a value-oriented investment firm that consults various investment entities on REIT investing [2]

Group 1 - Thematic ETFs have evolved to become more nuanced in recent quarters, indicating a shift in investment strategies [1] - The Fundstrat Granny Shots US Large Cap ETF (GRNY) is highlighted as a portfolio that tracks Tom Lee's investment strategies, showcasing the growing interest in thematic investing [1] Group 2 - The article emphasizes the importance of creating engaging and educational content related to financial data, which is essential for attracting everyday investors [1] - There is a focus on analyzing various asset classes, including stocks, bonds, commodities, currencies, and crypto, to identify macro drivers that influence market conditions [1]

Core Insights - Nvidia has achieved a historic $4 trillion market capitalization, with Microsoft expected to follow suit soon, highlighting the transformative impact of the AI Revolution [1][2] - Both Nvidia and Microsoft are positioned as key players in the AI Revolution, with Microsoft projected to join the $4 trillion club this summer and potentially reach $5 trillion within 18 months [3] AI Revolution's Impact - The pace of enterprise-scale AI deployments is accelerating, with Microsoft customers prioritizing AI use cases across various sectors, particularly in financials, government, and retail [4] - Over the next three years, more than 70% of Microsoft's installed base is expected to adopt AI functionality for enterprise or commercial purposes, significantly altering the company's growth trajectory [4] Fiscal Projections - Fiscal 2026 is anticipated to be a pivotal year for Microsoft's AI growth, with substantial investments planned, including $80 billion in capital expenditures for fiscal 2025 [5] - This investment aims to expand data center capabilities to meet increasing demand and support AI monetization strategies [5] Competitive Positioning - Microsoft is identified as the leading player in enterprise hyper-scale AI, with AI being a core driver of Azure's value proposition [6] - The company is expected to benefit from strong momentum around Copilot deployments, potentially adding approximately $25 billion to revenue by fiscal 2026 [7] Future Growth Expectations - The multiplier effect of AI, driven by Nvidia, is beginning to impact the cloud and software sectors, suggesting that cloud and AI monetization will increasingly contribute to Microsoft's business growth and margins [8] - Projected fourth-quarter revenue for Microsoft is $73.77 billion, with an EPS of $3.34 [8]

Group 1 - The company Blue Harbinger Research was founded in 2015 to assist individuals in managing their investments [1] - The owner of Blue Harbinger Research also established a private investment management firm in 2021 [1] - The founder has a background as a multibillion-dollar pension fund manager and buyside portfolio manager [1] Group 2 - The founder holds an MBA from the University of Chicago Booth School of Business [1] - The founder has a BS in Finance from the University of Illinois at Urbana-Champaign [1]

Market Volatility & Geopolitical Landscape - The market is experiencing volatility due to recent geopolitical developments, particularly the conflict in the Middle East, but not as significantly as the tariff impacts earlier in the year [2] - Investors and advisors are becoming more accustomed to increased volatility [3] - Increased interest in fixed income ETFs, especially short-term ones, is observed as investors seek income with lower risk [3] - Broadly diversified ETFs, like the Vanguard 500 ETF, are attracting inflows, indicating investors are using sell-offs as buying opportunities [3][4] Tech Investment & Safe Haven Status - Tech is heavily weighted in broadly diversified large-cap ETFs, suggesting many investors include tech and AI as part of a broader portfolio [5] - Technology was considered a safe haven during the COVID selloff in 2020 [6] - Investors are now showing interest in more traditional defensive sectors like utilities and consumer staples [7] - Large-cap tech is still seen as a relative safe haven, but investors also seek diversification with traditional defensive sectors [7] AI Revolution & Tech Valuation - Focusing solely on valuation can lead to missing transformational tech stocks [9] - The market is believed to be underestimating the growth potential of the AI revolution in tech [9] - Geopolitical events are viewed as opportunities to acquire tech stocks at lower prices [9]