TORONTO, Feb. 02, 2026 (GLOBE NEWSWIRE) -- illumin Holdings Inc. (TSX:ILLM) (OTCQB:ILLMF) (“illumin” or the “Company”) today announced changes to its board of directors (the “Board”) and the composition of its audit committee (“Audit Committee”) and corporate compensation and governance committee (“CCGC”). The Board has received and accepted the resignations of directors Roger Dent, Michele Tobin, and Yishay Waxman, effective February 1, 2026. “Roger, Michele and Yishay have been instrumental to our growth, ...

Core Insights - The market presents significant growth and value investment opportunities, particularly for stocks expected to perform well in 2026 [1] - A selection of stocks is highlighted as potential strong performers over the next few years [2] Company Summaries Taiwan Semiconductor Manufacturing (TSM) - Taiwan Semiconductor Manufacturing reported outstanding Q4 2025 earnings, with management forecasting nearly 30% revenue growth in 2026 [3] - The company anticipates its AI chip revenue will grow at a compound annual rate of nearly 60% from 2024 to 2029 [3] - Current market cap is $1.7 trillion, with a gross margin of 59.02% and a dividend yield of 0.93% [4][5] The Trade Desk (TTD) - The Trade Desk's stock has decreased by 75% from its all-time high, but it still remains a leading ad platform [6] - The company grew revenue by 18% in Q3, with Wall Street analysts projecting 16% growth for 2026 [8] - The current market cap is $15 billion, with a gross margin of 78.81% [7] Nebius (NBIS) - Nebius operates data centers equipped with advanced GPUs for AI workloads, offering a full-stack setup for clients [9] - Management forecasts significant growth, expecting annual revenue to rise from $551 million to between $7 billion and $9 billion by the end of 2026 [10] - The current market cap is $21 billion, with a gross margin of -1312.43% [10]

Core Insights - Microsoft and Meta reported earnings with significant divergence in stock performance, highlighting different market reactions to their financial results [1][4] - Microsoft demonstrated strong Azure growth and a solid quarter, but the market reacted negatively due to concerns about long-term platform discipline [3][4] - Meta's stock surged by 10% following a strong operational quarter, showcasing its efficient AI-optimized advertising engine [5][11] Microsoft Summary - Microsoft delivered a high-quality quarter, reinforcing its position in enterprise AI, with Azure growth remaining strong [3] - Commercial demand was stable, and the co-pilot feature is transitioning from experimentation to early monetization [4] - The market's negative reaction may stem from Microsoft's long-term focus, which does not always yield immediate short-term gains [4][10] - There is potential for Microsoft to convert high-margin services into durable margins across various lines of business [10] Meta Summary - Meta reported a 66% increase in capital expenditures, which contributed positively to margin performance, unlike Microsoft's approach [5] - The company is leveraging its extensive data set to enhance ad targeting and performance, leading to increased pricing power and engagement [7][8] - Meta's operational strength is rooted in its AI-optimized advertising engine, with expectations for continued solid performance if ad markets remain healthy [11] - Future focus will be on how AI capital expenditures translate into new revenue streams beyond just improved ad yield [11][12] Market Outlook - Both companies are viewed positively, with buy ratings and price targets set at $500 for Microsoft and $1,000 for Meta, reflecting confidence in their underlying business health [12][13] - The ongoing evolution of AI and its integration into enterprise solutions is expected to shape market dynamics significantly [14]

Core Viewpoint - The article discusses the potential for three AI stocks to perform exceptionally well in 2026, driven by ongoing demand for AI technologies and specific company advancements. Group 1: Nvidia - Nvidia is predicted to be the safest and potentially the biggest winner among AI stocks due to the rise of agentic AI adoption, which is expected to significantly boost demand for its products [3][4]. - The launch of the Rubin GPU platform, which could reduce inference costs by 10x and require four times fewer GPUs for training, is anticipated to create substantial demand [6][7]. - Nvidia's growth bottleneck is expected to ease as Taiwan Semiconductor Manufacturing Company ramps up its advanced packaging capacity, with Nvidia securing approximately 60% of this capacity [7]. Group 2: Broadcom - Broadcom is identified as the second-best positioned AI chipmaker, benefiting from the trend of hyperscalers seeking to build custom AI chips, holding an estimated 60% market share in the AI server ASIC market [8][10]. - The transition of data centers to million-GPU clusters is expected to drive significant sales growth for Broadcom's networking products, particularly the Tomahawk 6 switches [10]. - Broadcom has a substantial $73 billion AI-related backlog, which is projected to translate into strong revenue and earnings growth in 2026 [11]. Group 3: Meta Platforms - Meta Platforms has shown robust advertising revenue growth, with a 24% year-over-year increase in Q4, driven by improvements in ad ranking models [12][13]. - The company is focusing on the AI smart glasses market, where sales have more than tripled in 2025, positioning itself as a leader in this growing segment [15]. - Although the shift in investment focus towards AI glasses may not yield immediate bottom-line improvements in 2026, it is expected to provide a catalyst for stock performance in the future [16].

Core Insights - The Trade Desk (TTD) has experienced a significant decline, with a total loss of -15% over five days, resulting in a market capitalization drop of approximately $2.7 billion to $15 billion [2][9] - Year-to-date (YTD) return for TTD is -17.7%, contrasting with a positive return of 1.8% for the S&P 500, indicating a need for reassessment of the stock's valuation [3] Causes of Decline - The sudden resignation of Chief Financial Officer Alex Kayyal after only six months has been identified as a key factor contributing to the stock's decline, leading to a nearly 5% drop on the announcement day and multiple analyst downgrades [4][9] Valuation Perspective - Despite the recent stock decline, TTD is viewed as having strong operational performance and financial stability, leading to the conclusion that it is fairly priced [5] - The market has already absorbed the information regarding the stock's decline, suggesting that predictive signals are necessary for avoiding future underperformers [6] Comparative Performance - TTD's ongoing losing streak contrasts with the performance of the Trefis High Quality Portfolio, which has consistently outperformed its benchmarks, including the S&P 500, S&P mid-cap, and Russell 2000 indices [8][10]

Core Insights - Both Meta and Microsoft emphasize the need for significant capital spending in the AI sector, which is seen as disciplined and demand-driven rather than reckless [1][8]. Meta - Meta's CFO highlighted a trade-off between increased infrastructure investment and profitability, expecting 2026 operating income to exceed 2025 levels despite potential pressure on operating margins [2]. - The company projects 2026 capital expenditures of approximately $115–$135 billion, a significant increase from $72 billion in 2025, positioning it among the largest capex spenders in the AI and hyperscaler sectors [3]. - Meta's confidence is primarily based on its advertising business, which generated $59.89 billion in revenue for Q4, surpassing estimates and contributing to over $200 billion in annual revenue [4]. Microsoft - Microsoft reported a capital expenditure of about $37.5 billion in Q2 FY26, an increase from $34.9 billion in the previous quarter, reflecting a focus on AI and data-center build-outs [5][6]. - The investment strategy is centered on meeting sustained demand and optimizing asset capacity, with a strong cloud demand indicated by Microsoft Cloud exceeding $50 billion in quarterly revenue and Azure growing approximately 39% year-over-year [6][7]. - Microsoft achieved $81.3 billion in revenue for the quarter, a 17% year-over-year increase, although there were concerns about Azure's growth rate compared to previous quarters [7]. Overall Industry Perspective - The combined messages from Meta and Microsoft suggest that while AI-driven capital expenditures are increasing, a disciplined investment approach focused on monetization is expected to support sustainable growth and profitability [8].

Core Viewpoint - AppLovin Corp. has shown significant stock recovery after a sharp decline, driven by strong quarterly performance and advancements in AI advertising technology, positioning itself for future growth despite recent stock price fluctuations [1][2][3]. Group 1: Stock Performance - AppLovin's share price has increased by 881.3% since going public in 2021, making it a top growth stock for investors [2]. - The stock reached a high of $745.61 in September but has retreated over 15% year-to-date, still outperforming the S&P 500 and Nasdaq over the past year [1][2]. - Wall Street's consensus one-year price target for AppLovin is $741.08, indicating a potential increase of 30.2% from the current price [14]. Group 2: Business Focus and Growth Drivers - AppLovin is focusing on software solutions that enhance marketing and monetization for online advertisers, benefiting from strong secular growth trends [2]. - The company has made significant strides in AI-powered advertising, optimizing ad targeting and expanding into new categories beyond gaming, such as e-commerce and fintech [5][6]. - E-commerce advertising is becoming a major revenue contributor, with strong demand from brands during the holiday season [7][9]. Group 3: Strategic Changes - AppLovin is officially exiting game development, allowing it to concentrate on advertising technology, which is a significant pivot for the company [10][11]. - The company has signed an agreement to sell its mobile gaming division for $900 million, which includes $500 million in cash and $400 million in equity, enabling a shift to a pure ad-tech model [17]. Group 4: Future Projections - By the end of 2026, AppLovin's stock price is projected to reach $774.58, suggesting a 36% gain, with further growth expected through 2030, potentially reaching $910.70 per share [15][14]. - The launch of automated tools and a self-serve platform is anticipated to significantly scale the company's advertising reach [16].

分组1 - The core discussion revolves around the potential acquisition of Warner Brothers Discovery (WBD) by Netflix, with two possible outcomes: either Netflix will buy WBD or no deal will occur [1][2]. - Paramount is seeking assistance from the EU regarding its bid for WBD, while Netflix is considering an all-cash offer, which may change the dynamics of the bidding process [2][4]. - The WBD board appears resistant to Paramount's overtures, indicating a preference for Netflix, which is viewed as a more reliable partner despite the complexities involved [4][7]. 分组2 - The valuation of cable assets is a critical factor in the bidding process, with Netflix's bid excluding these assets, while Paramount's bid includes the entire company [5][8]. - The market performance of Versant, a Comcast spin-off, has been poor, with its shares dropping from $45 to $33, raising questions about the value of cable assets [8][9]. - The discussion highlights the competitive landscape in the streaming industry, with Netflix needing to adapt to a market where content providers are increasingly reluctant to sell their content [12][13]. 分组3 - Netflix's management is considered capable of handling the financial implications of a large acquisition, with a significant free cash flow generation of $7-8 billion annually [12][15]. - Concerns are raised about the potential for increased debt if Netflix pursues an all-cash deal, which could limit its flexibility for future investments [12][15]. - The competitive threat from platforms like YouTube is emphasized, as they capture significant viewership and revenue, posing a challenge for Netflix [13][14]. 分组4 - The recent earnings reports from major banks indicate cautious optimism, with loan growth reported at 8% for Bank of America, 9% for JP Morgan Chase, and 7% for Citigroup, suggesting a mixed consumer sentiment [46][47]. - JP Morgan's significant increase in provisions for credit losses indicates concerns about potential loan defaults, reflecting a cautious outlook on consumer financial health [46][47]. - The discussion on consumer behavior highlights the unpredictability of spending patterns, suggesting that banks may not always accurately reflect consumer confidence [48][49]. 分组5 - L3Harris announced a spin-off of its missile solutions business, backed by a $1 billion investment from the Pentagon, which is expected to enhance R&D and sales [52]. - This strategic move allows L3Harris to focus on faster-growing segments while leveraging government funding to develop its missile solutions business [52]. - The CEO of L3Harris is viewed positively, indicating confidence in the company's leadership and future direction [53].

Core Viewpoint - Meta's stock has shown a slight decline of 1% over the past year, but a recent earnings report has led to a 10% increase in pre-market trading, indicating positive investor sentiment following better-than-expected financial results [2][3]. Financial Performance - Meta reported a 24% revenue growth in Q4 2025, reaching approximately $60 billion, which exceeded expectations by about $1.5 billion. The earnings per share were $8.88, 8% above consensus estimates. The forecast for Q1 2026 is around $55 billion, which is $4.6 billion more than previous estimates [3]. - Analysts project a 26% rise in Meta's stock, with an average 12-month price target of $845.76 based on insights from 44 analysts [3]. AI and Future Outlook - Meta's CEO Mark Zuckerberg expressed confidence in the company's future, highlighting the rebuilding of their AI program's foundations and the upcoming release of new models and products [4]. - The company plans to nearly double its AI spending to as high as $135 billion by 2026, aiming to enhance its core advertising business, which is valued at $200 billion [5][11]. Challenges and Risks - Despite the optimism, there are concerns regarding Meta's ability to successfully commercialize AI, especially after the struggles faced with the Metaverse initiative, which has resulted in significant losses [6][9]. - Meta's Reality Labs has incurred losses nearing $80 billion since 2020, with a recent quarter showing a $6 billion operating loss against $955 million in revenue [7][8]. Advertising Revenue and AI Integration - AI has been a significant contributor to Meta's advertising revenue growth, with a reported return of $4.52 for every dollar spent by advertisers. The Advantage+ AI advertising tools generated nearly three times more revenue in Q3 2025 compared to Q1 2025, reaching a $60 billion annualized run rate [10]. - The integration of AI is expected to boost user engagement by 20% among Meta's 350 million Threads active users, potentially leading to additional revenue growth from WhatsApp ads [15]. Analyst Sentiment - Analysts remain largely bullish on Meta's prospects, with a focus on the company's ability to drive growth in revenue and profit through AI, despite the significant capital expenditures [18][19]. - Investors are willing to overlook the high spending on AI infrastructure, anticipating that it will lead to better-than-expected growth in the core advertising business [19].

Investment Philosophy - The investment approach of Van Geelen is inspired by George Soros's concept of reflexivity, emphasizing that narratives drive capital movements and can change reality [2] - Van Geelen's firm, Citrini Research, focuses on identifying stories that will influence capital flows before the market recognizes them [3][4] Performance and Strategy - Van Geelen's portfolio has increased by over 200% since May 2023, with successful trades including cheap Secured Overnight Financing Rate (SOFR) call options that yielded a 46x return [6] - He published a memo on Venezuelan sovereign bonds, predicting regime change, which materialized shortly after [7] Investment Opportunities 1. **Molina Healthcare** - Molina Healthcare operates with the lowest expense ratio in Medicaid, around 7%, and is positioned to benefit from potential margin recovery due to political gridlock [10][11] - The stock has declined by 40% over the past year, but Van Geelen projects significant earnings per share (EPS) growth based on expected margin improvements [12][14] 2. **WPP** - WPP is currently undervalued, trading at 0.2 times sales, as the market anticipates its extinction due to AI advancements [16] - The company has the potential to reduce its workforce significantly while maintaining revenue, indicating a turnaround opportunity [17] 3. **Choice Hotels** - With the upcoming 2026 World Cup in the U.S., Choice Hotels is expected to benefit from increased demand for budget accommodations [18][20] - The investment thesis is based on the certainty of millions of soccer fans needing hotel rooms, making it a straightforward opportunity [19] 4. **Tax-refund Beneficiaries** - Tax refunds for Americans in early 2026 are projected to be 30% to 50% larger than normal due to changes in the tax code, benefiting middle-income households [21][22] - Companies like Somnigroup International, Whirlpool, and Lithia Motors are positioned to capitalize on increased consumer spending from these refunds [23] Market Insights - Van Geelen emphasizes the importance of recognizing current realities rather than attempting to predict future events, highlighting that the World Cup and tax code changes are already established facts [24]