hapabapa/iStock Editorial via Getty Images Software companies that derive the bulk of their revenue from underlying assets or activities are better protected from AI-related disruption than those relying on seat-based models, according to KeyBanc. This includes names such as JFrog ( FROG ), AppFolio ( APPF ), ServiceTitan ( TTAN ), Samsara ( IOT ), Procore ( PCOR ), Cadence Design Systems ( CDNS )...
hapabapa/iStock Editorial via Getty Images Software companies that derive the bulk of their revenue from underlying assets or activities are better protected from AI-related disruption than those relying on seat-based models, according to KeyBanc. This includes names such as JFrog ( FROG ), AppFolio ( APPF ), ServiceTitan ( TTAN ), Samsara ( IOT ), Procore ( PCOR ), Cadence Design Systems ( CDNS ), and Synopsys ( SNPS ). "Today, our view (and possibly consensus) is that the consumption and infrastructure names are best positioned to benefit from AI," said KeyBanc analysts, led by Jason Celino, in an investor report. "However, when thinking about the next most defensible areas of software, we would look to APPF (priced based on # of units), IOT (operating assets), PCOR (construction volume), TTAN (technicians), and CDNS/SNPS (chip design activity). Each of these companies should continue to benefit from the underlying growth of their end-market industries and be in a better position to maintain pricing premiums and offer token/consumption-based AI offerings without cannibalizing their core user." In contrast, software companies that rely on seat growth or seat-related add-ons for revenue growth could see seat expansion slow due to AI efficiencies. "User-based models will need to adapt to the changing environment by coming out with agents that are fast enough and good enough that they can recapture the growth opportunity that was lost from headcount efficiencies and degraded pricing power," Celino added. More on JFrog, Procore, and ServiceTitan Procore Navigates CEO Transition And Challenged Construction Industry ServiceTitan: Near-Term Deceleration, But Solid Long-Term Foundation ServiceTitan: A Lot To Like, Although Valuations Are A Bugbear Synopsys partners with Arm to build CPUs for data centers JFrog rises as UBS upgrades on 'overdone' AI disruption worries
Khanchit Khirisutchalual/iStock via Getty Images Bayer’s ( BAYZF ) stock was actually a great investment in 2025 and outperformed many other German (and U.S.) stocks and in the 2025 Annual Report , the company was able to print a chart we did not see often in recent years. Bayer 2025 Annual Report In my last article , which was published in December 2025, I rated the stock as a “Buy” and in the co...
Khanchit Khirisutchalual/iStock via Getty Images Bayer’s ( BAYZF ) stock was actually a great investment in 2025 and outperformed many other German (and U.S.) stocks and in the 2025 Annual Report , the company was able to print a chart we did not see often in recent years. Bayer 2025 Annual Report In my last article , which was published in December 2025, I rated the stock as a “Buy” and in the conclusion of my last article I wrote: I still remain confident that Bayer will manage to turn the business around. And Bayer doesn’t need to grow with a high pace to be fairly valued right now. Additionally, if Bayer should be able to resolve its glyphosate litigations and just normalizing its free cash flow levels to previous amounts would be enough to make the stock a bargain. However, on the one hand, we should not rule out the possibility of another huge disappointment. The Supreme Court might rule against Bayer, which would most likely tank the stock again. On the other hand, the balance sheet with high debt levels and huge amounts of goodwill remains a big problem. All in all, I stay bullish about Bayer at this point as the picture seems to be improving and the stock is still trading for such low valuation that all the negativity is already priced in. When my last article was published, Bayer was trading for $36.30 and now – at the time of writing – the stock is trading for $38.50 resulting in about 6% growth. In the meantime, the stock increased even to almost $50 but declined again in the following weeks. About three weeks ago, on March 4, 2026, Bayer reported full-year results for fiscal 2025 and it is easy to see the results as a major disappointment again. Despite disappointing results, I will explain in the following article, why we should remain bullish about Bayer. Not only does the stock remain undervalued, developments in the last few weeks will most likely reduce uncertainty about the litigation process and the fundamental business of Bayer is also performin...
The World Federation of Advertisers, Nestle SA , Shell PLC and a handful of other companies won dismissal of a lawsuit filed by Elon Musk ’s X over claims that they orchestrated an advertising boycott of the social media platform after the billionaire purchased it. A federal judge in Texas issued the ruling Thursday, granting a request by the companies to dismiss the lawsuit. The case is X v. Worl...
The World Federation of Advertisers, Nestle SA , Shell PLC and a handful of other companies won dismissal of a lawsuit filed by Elon Musk ’s X over claims that they orchestrated an advertising boycott of the social media platform after the billionaire purchased it. A federal judge in Texas issued the ruling Thursday, granting a request by the companies to dismiss the lawsuit. The case is X v. World Federation of Advertisers, 7:24-cv-00114, US District Court, Northern District of Texas (Wichita Falls).
We’re coming to you again this month because, well, there’s just so much going on and we wanted to bring fresh influential female voices to discussions around the war in Iran, the tumult in private credit and everything AI. We also couldn’t wait to share highlights from our New Voices event at the Park Avenue Armory in New York this week, and the special conversation that took place with Gloria St...
We’re coming to you again this month because, well, there’s just so much going on and we wanted to bring fresh influential female voices to discussions around the war in Iran, the tumult in private credit and everything AI. We also couldn’t wait to share highlights from our New Voices event at the Park Avenue Armory in New York this week, and the special conversation that took place with Gloria Steinem . And we now have our first confirmed speakers for December’s Women, Money & Power conference, so check out the link below! See more Iran Uncertainty and Private Credit’s Wobbles Sometimes, the most valuable perspectives are the ones we hear least. In this issue, we speak with an investment professional whose experience spans multiple countries. Born in France to an Iranian father and a Spanish mother, Roxana Mohammadian-Molina spent 11 years in Iran and brings an outlook shaped by her diverse personal and professional influences. After nearly a decade on the trading desks at Barclays and Morgan Stanley, Mohammadian-Molina left banking in 2016 to pursue a more entrepreneurial path. She is now a senior strategic advisor for capital partnerships at Cohort Capital, and focuses on investing in businesses at the intersection of finance, technology and real estate — at a time when private credit has emerged as a powerful force in global markets. We’ll get to her views on private credit later. First, we want to share her take on the Iran conflict and why she believes one underappreciated point is the country’s scale, economic potential and significant diaspora. With almost 100 million inhabitants, Iran’s population is larger than that of Turkey or Saudi Arabia. “People always think about oil, gas and natural resources,” Mohammadian-Molina says. But in a market that’s been shut for nearly 50 years, “the biggest opportunity is really the consumers.” Once the doors for that market open, “it’s really a huge opportunity for all the Western companies — but obviously, that is hugel...
GMVozd/E+ via Getty Images I previously covered Chipotle Mexican Grill, Inc. ( CMG ) in January 2026, discussing how the stock had underperformed my expectations throughout my five prior buy ratings. This was with the stock consistently charting lower lows/highs since the July 2024 highs while likely to underperform in the near term, given the multitude of recovery headwinds - with it contributing...
GMVozd/E+ via Getty Images I previously covered Chipotle Mexican Grill, Inc. ( CMG ) in January 2026, discussing how the stock had underperformed my expectations throughout my five prior buy ratings. This was with the stock consistently charting lower lows/highs since the July 2024 highs while likely to underperform in the near term, given the multitude of recovery headwinds - with it contributing to my downgraded Hold rating then. In this article, I shall discuss why I am reiterating my Hold rating for the CMG stock here, given the mixed risk/reward from the still expensive valuations and the underwhelming growth prospects, despite the ongoing stock price reversal. This is despite the tailwinds from the still rich profit margins, the healthy balance sheet, the organically funded growth cadence, and the robust shareholder returns from the ongoing share retirement. CMG's Premium Valuations Meet Mixed Comparable Sales Performance CMG 1Y Stock Price (Trading View) Since my last Hold rating, CMG has indeed returned part of its recent gains by -16.9% compared to wider market at -4.5%, with a similar underperformance also observed in its fast casual/big chain restaurant peers in varying degrees. It is apparent from these developments that the prior market rotation to value /dividend-oriented stocks have lost their upward momentum and entered a phase of stock price normalization. 1. Mixed Growth Prospects Part of the correction may also be attributed to CMG's likely to be mixed prospects entering FY2026, with FQ4'25 already bringing forth negative comparable sales at -2.5% YoY , with it building upon a year of mixed growth trends, as observed in: FQ3'25 comparable sales at +0.3% YoY, FQ2'25 at -4% YoY , and FQ1'25 at -0.4% YoY , with the FY2025 comparable sales performance at -1.7% YoY naturally underperforming its historical growth trends at: FY2024 at +7.4% YoY , FY2023 at +7.9% YoY , FY2022 at +8% YoY , FY2021 at +19.3% YoY , FY2020 at +1.8% YoY , and FY2019 at +11.1% Y...
The State Street Technology Select Sector SPDR ETF (NYSEMKT:XLK) and the Roundhill Investments Generative AI & Technology ETF (NYSEMKT:CHAT) differ sharply on cost, recent performance, sector focus, and risk profile, with CHAT leaning into artificial intelligence themes and showing much higher recent returns and volatility. Both the State Street Technology Select Sector SPDR ETF (XLK) and the Roun...
The State Street Technology Select Sector SPDR ETF (NYSEMKT:XLK) and the Roundhill Investments Generative AI & Technology ETF (NYSEMKT:CHAT) differ sharply on cost, recent performance, sector focus, and risk profile, with CHAT leaning into artificial intelligence themes and showing much higher recent returns and volatility. Both the State Street Technology Select Sector SPDR ETF (XLK) and the Roundhill Investments Generative AI & Technology ETF (CHAT) are technology-focused exchange-traded funds, but their approaches and exposures differ. XLK offers broad coverage of the U.S. technology sector, while CHAT is an actively managed fund with a generative artificial intelligence emphasis, including an ESG screen. This comparison highlights how the two stack up on cost, returns, risk, portfolio tilt, and other key factors. Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Continue reading
The Federal Communications Commission voted Thursday to phase out regulations that made it harder for phone and internet service providers to swap out copper communications networks for fiber optic lines. The new framework, among other things, preempts state and local regulations that would delay the retirement of the aging infrastructure when companies have already received FCC permission to do s...
The Federal Communications Commission voted Thursday to phase out regulations that made it harder for phone and internet service providers to swap out copper communications networks for fiber optic lines. The new framework, among other things, preempts state and local regulations that would delay the retirement of the aging infrastructure when companies have already received FCC permission to do so. “For too long, outdated rules and regulations have forced providers to maintain aging copper infrastructure and to keep consumers on broken, antiquated networks,” FCC Chairman Brendan Carr said in a statement. Copper networks have long been responsible for carrying voice calls and internet traffic at modest speeds, but they are quickly becoming a liability for carriers like AT&T Inc. and Verizon Communications Inc. They are vulnerable to water damage and theft, and many manufacturers of the original networking parts have shuttered, making them difficult to repair. It’s also lucrative for telecommunications companies like AT&T to phase out copper and sell the network for parts. Carriers are estimated to be able to recover nearly 1 million metric tons of copper over the next decade. AT&T has said it will spend $6 billion a year just to keep its copper networks running. Thursday’s vote “effectively frees up those billions of dollars so that Americans can benefit from an upgrade to the types of modern, high-speed networks that they want and need,” Carr said. State, local and federal regulations have often prevented or slowed down the retirement of copper infrastructure because it’s long functioned as the network of last resort during emergencies, and some consumers are reluctant to transition away from it. With the advent of fiber and wireless technologies, the FCC has begun deregulating the copper phase-out process, and it has accepted alternative technologies as backups in emergencies, like a wirelessly connected home phone from AT&T. FCC Commissioner Anna Gomez said consu...