Dragon Claws/iStock via Getty Images Roper's ( ROP ) business has been hard hit by AI fears over the past 12 months, with the company's decision to create a predominantly software-driven business following its divestiture of legacy industrial units in 2022 now appearing unwise. I previously suggested that Roper’s valuation was stretched, particularly given that a large amount of capital has been d...
Dragon Claws/iStock via Getty Images Roper's ( ROP ) business has been hard hit by AI fears over the past 12 months, with the company's decision to create a predominantly software-driven business following its divestiture of legacy industrial units in 2022 now appearing unwise. I previously suggested that Roper’s valuation was stretched, particularly given that a large amount of capital has been deployed in recent years and the long-term impact of this isn’t really clear yet. In addition the software rollup opportunity is maturing, making it difficult for companies like Roper to continue outperforming longer term. Software rollups have been particularly hard hit by AI concerns, but consideration still needs to be given to how defensible the underlying businesses are. AI disruption is likely to be less severe than widely feared in the short-term, and current headwinds could enable acquisitions at more attractive valuations. As a result, I believe that Roper's stock could rebound at some point in the next 1-2 years if its financial performance remains consistent. The biggest problem at this point is that it is unclear what would assuage investor fears regarding AI. This means the stock could perform poorly for an extended period of time, even if the underlying business continues to perform well. In particular, continued foundation model and developer tool improvements could weigh on the company’s terminal value, offsetting earnings growth and share buybacks. Market Conditions While Roper's share price has been hit by AI fears, it is important to note that macro headwinds are weighing on growth and the company has had a very high valuation in recent years. Growth has been decelerating, which Roper has suggested is due to a combination of operational issues and macro headwinds rather than competition. On the macro front, DOGE and the government shutdown negatively impacted parts of Roper's business in 2025, like Deltek. Roper has suggested that deals have slipped rather...
Every software stock is getting tossed around by the market, either determined to be an artificial intelligence ( AI ) winner or an AI loser. Most are getting put into the AI loser camp, including Wix.com (NASDAQ: WIX) . The website-building and small-business management platform is at risk of disruption from new zero-code tools like Claude, which enable people to build their own websites from scr...
Every software stock is getting tossed around by the market, either determined to be an artificial intelligence ( AI ) winner or an AI loser. Most are getting put into the AI loser camp, including Wix.com (NASDAQ: WIX) . The website-building and small-business management platform is at risk of disruption from new zero-code tools like Claude, which enable people to build their own websites from scratch. Or, at least, that's how the story goes. But if you look at the underlying business, its core customers, and the new products the company has developed, it is clear that Wix is actually an AI winner. Here's why buying Wix stock down 73% from recent highs could be a once-in-a-decade investment opportunity. Continue reading
2026 年,绝对可以说是 Mac 的大年。 除了有望下周亮相的 M5 Pro、M5 Max Mac 新品,以及全新入门款 MacBook,苹果已经将全新 M6 MacBook Pro 提上日程,预计将于今年年底发布。 虽然先进的 2nm 制程工艺值得期待,但 M6 MacBook Pro 更大的亮点,在于焕然一新的配置—— 更轻薄,OLED 屏幕,灵动岛,以及「违背祖训」的触控屏。 时隔五年,M...
2026 年,绝对可以说是 Mac 的大年。 除了有望下周亮相的 M5 Pro、M5 Max Mac 新品,以及全新入门款 MacBook,苹果已经将全新 M6 MacBook Pro 提上日程,预计将于今年年底发布。 虽然先进的 2nm 制程工艺值得期待,但 M6 MacBook Pro 更大的亮点,在于焕然一新的配置—— 更轻薄,OLED 屏幕,灵动岛,以及「违背祖训」的触控屏。 时隔五年,MacBook Pro 大升级 根据彭博社爆料,苹果为 2026 下半年规划的两款新 MacBook Pro,代号分别为 K114、K116 ,分别对应 14 和 16 英寸型号。 当前的 MacBook Pro 采用 mini-LED 面板和前置摄像头的「刘海」设计;新款预计将升级为 OLED 面板,并在顶部中央加入围绕摄像头打孔构建的灵动岛结构。 与 iPhone 类似,灵动岛不仅承载前置摄像头,也将承担通知、媒体控制、实时信息展示等功能,并支持第三方应用交互。 ▲ MacBook 灵动岛效果图(非官方) 彭博社透露,MacBook Pro 的 OLED 屏幕将对标 iPad Pro,意味着 MacBook Pro 很有可能会同样采用双层 OLED 技术,亮度和能耗表现都会更出色。 而根据知名分析师郭明錤提供的产业链消息,MacBook Pro 将采用 on-cell 触控屏幕,而非全贴合的「in-cell」技术。 目前 macOS 26 已经引入了 Mac 状态栏显示 iPhone 「实时活动」卡片的功能,可以说为「Mac 上岛」(灵动岛)铺好了路;而「液态玻璃」界面图标留白增加、控制中心滑块变大等调整,均呈现出更友好的触控尺度,也可以理解为给触控做铺垫。 甚至「灵动岛」本身,也是一个触控优先的交互逻辑,用鼠标反而还有点不太自然。 不过,苹果并不打算将 MacBook Pro 定位为 iPad 替代品。触控只是新增输入方式之一,而非「触控优先」。 新系统将根据用户操作方式,在触控与传统光标点击之间动态切换界面逻辑。例如,手指点击按钮时,界面会在触点周围弹出更适合触控的菜单;菜单栏项目也会在触控场景下放大,便于手指选择。 常见操作如滚动、缩放图片与 PDF 文件,将获得与 iPhone、iPad 类似的流畅触控体验。但苹果预计不会在 macOS 上做太多触控打字的优化——...
Narongrit Sritana/iStock via Getty Images Thesis Axogen, Inc. ( AXGN ) has just reported a 4Q25 non-GAAP EPS of $0.07, a figure which missed expectations by about $0.03. Elsewhere, revenue came in at $59.9 million, in line with estimates, growing 21.3% year over year. Management has expectations for at least 18% revenue growth in 2026, which would imply about $265.7 million in sales, a figure just...
Narongrit Sritana/iStock via Getty Images Thesis Axogen, Inc. ( AXGN ) has just reported a 4Q25 non-GAAP EPS of $0.07, a figure which missed expectations by about $0.03. Elsewhere, revenue came in at $59.9 million, in line with estimates, growing 21.3% year over year. Management has expectations for at least 18% revenue growth in 2026, which would imply about $265.7 million in sales, a figure just above consensus. Gross margin is projected between 74% and 76%, and full-year free cash flow positivity, which is a nice sign. But as you know, despite the constructive outlook, investors were more focused on the earnings miss, and shares closed about 8% lower yesterday. I think the main concern is over near-term profitability and margin pressures. In my previous coverage , I went over the advanced nerve graft FDA decision and the implications for Axogen. Since then, the stock has climbed moderately, and it is up about 14% despite the 8% sell-off in yesterday's trading session. Back then, the stock still screened as rather expensive, but I felt there was more upside come with the BLA approval , possibly around the corner. Since then, the stock now screens as even more expensive, and the company appears to be entering a transition, as I'll explain. For that reason, I feel it is best to go with a hold rating. Seeking Alpha FY25 results Overall, Axogen delivered a pretty strong top-line performance for FY25 . We saw continued commercial momentum; however, there was some margin pressure and higher operating costs. 4Q25 revenue hit $59.9 million, up about 21.3% year over year, whilst FY25 revenue grew about 20.2% to $225.2 million. So there was broad-based growth across extremities, oral maxillofacial, and also their breast reconstruction markets. Gross margin did decline slightly to 74.1% in 4Q25 and 74.3% for FY25, which was mainly due to about $1.9 million in one-time costs tied to FDA approval of its Avance nerve graft product. Most importantly, though, most of these costs ...
U.S. President Donald Trump delivers the State of the Union address during a joint session of Congress in the House Chamber at the Capitol on February 24, 2026 in Washington, DC. Trump delivered his address days after the Supreme Court struck down the administration's tariff strategy, and amid a U.S. military buildup in the Persian Gulf threatening Iran. Pool | Getty Images News | Getty Images The...
U.S. President Donald Trump delivers the State of the Union address during a joint session of Congress in the House Chamber at the Capitol on February 24, 2026 in Washington, DC. Trump delivered his address days after the Supreme Court struck down the administration's tariff strategy, and amid a U.S. military buildup in the Persian Gulf threatening Iran. Pool | Getty Images News | Getty Images The U.S. and Iran are poised to hold further nuclear talks in the Swiss city of Geneva on Thursday, amid persistent fears about the prospect of military action in the oil-rich Middle East. The upcoming round of negotiations over the future of Tehran's nuclear program come as the U.S. continues to build up military forces in the region and as President Donald Trump warns of " bad things " if Iran doesn't agree to a nuclear deal. The U.S. president on Tuesday spoke briefly about Iran during his nearly two-hour State of the Union address but primarily focused on domestic policy and other political issues. "We are in negotiations with them. They want to make a deal, but we haven't heard those secret words: 'We will never have a nuclear weapon,'" Trump said. "My preference is to solve this problem through diplomacy. But one thing is certain, I will never allow the world's number one sponsor of terror, which they are by far, to have a nuclear weapon." watch now VIDEO 3:42 03:42 How a potential U.S. strike on Iran could affect oil volatility Money Movers For some, the comments boosted expectations of an imminent diplomatic breakthrough. Trump "basically wants the optics of a win, which is why he talks about why he's ended eight wars . I think it's pretty clear he hasn't. He has helped navigate, you know, skirmishes … but he hasn't ended these conflicts," said George Pollack, U.S. policy analyst at Signum Global Advisors. "For him, I think it is more about how he's exerting U.S. strength, U.S. force and trying to make the world more peaceful but that's more optics than it is a substan...