fatido/iStock via Getty Images Background In early 2023, I cautiously recommended investors continue to hold The Williams Companies, Inc. ( WMB ) with share prices just under $30; shares have subsequently more than doubled. More recently, I completed a review of WMB and its midstream peers energy based on a matrix of factors including forward yield, valuation, growth, profitability, and leverage. ...
fatido/iStock via Getty Images Background In early 2023, I cautiously recommended investors continue to hold The Williams Companies, Inc. ( WMB ) with share prices just under $30; shares have subsequently more than doubled. More recently, I completed a review of WMB and its midstream peers energy based on a matrix of factors including forward yield, valuation, growth, profitability, and leverage. Despite superior growth and profitability, WMB now appears to be amongst the least favorable investments in midstream energy. Many WMB investors will probably disagree; they are likely to cite WMB's eight consecutive years of dividend growth or the the recent quarterly dividend increase from $0.50 to $0.525/share. In fact, these investors have driven share prices up almost 25% year to date and recently to $76.87, a new all time high. These investors have loved WMB's dividend to death; with share prices at record highs, WMB's forward yield is only 2.9% compared to its 5Yr average yield of almost 5%. These observations are further supported by Seeking Alpha's Quant rating system. Quant Rating and Factor Grades Seeking Alpha Despite strong growth, robust profitability, moderate momentum, and fair revisions ratings, WMB is currently rated at a lukewarm hold overall with a D-minus score on valuation. Valuation WMB's unfavorable valuation score of D-minus indicates WMB is relatively expensive when compared to the energy sector median ratios and its own five year average ratios. WMB's overall valuation score is compounded from several trailing and forward ratios whereby a grade less than "C" on any metric suggests WMB's valuation could be stretched. Author In nearly every single case, WMB's trailing twelve month and forward ratio is substantially higher than that of energy sector median and its own five year average. The only exceptions are non-GAAP PEG at C-Plus and trailing twelve month dividend yield at C. Even so, WMB's trailing twelve month dividend yield of 2.8% still lags t...
Signed into law on Jan. 5, 2025, the Social Security Fairness Act represents one of the most significant changes to America's retirement system in recent history. At its core, the legislation removes rules that previously reduced benefits for certain public sector workers and their spouses for decades. Over the last year, the act has made $17 billion in retroactive payments to more than 3 million ...
Signed into law on Jan. 5, 2025, the Social Security Fairness Act represents one of the most significant changes to America's retirement system in recent history. At its core, the legislation removes rules that previously reduced benefits for certain public sector workers and their spouses for decades. Over the last year, the act has made $17 billion in retroactive payments to more than 3 million recipients. Here's how you can determine whether you qualify and if you should expect an extra boost to your Social Security checks. Eliminating the WEP and GPO reductions The Social Security Fairness Act aims to repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). The WEP changed the benefit formula for people who also received pensions from jobs where Social Security taxes weren't paid. These include teachers, police offers, firefighters, and certain federal employees. The GPO reduced survivor benefits on non-covered pensions. As a result, spouses and widows were often left with minimal financial support for their families. How do I know if I qualify for the Social Security Fairness Act? Thankfully, the Social Security Administration (SSA) proactively contacted affected beneficiaries to help handle payment adjustments or update banking information. If you have questions pertaining to the retroactive payments and increased benefits from the Social Security Fairness Act, you can review your eligibility online through your SSA account or call the department directly. When can I expect a boost to my Social Security benefits? Of note, the lump-sum payments from the Act covers any potential benefits increases dating back to January 2024. The financial impact from the Fairness Act is not trivial. Most recipients have seen their monthly Social Security checks rise somewhere in the range of $300 to $1,000. On top of that, the SSA reports that the average lump-sum retroactive payment was around $6,710. According to the SSA, most affected benefici...
Robert Way/iStock Editorial via Getty Images Xiaomi ( XIACY ) ( XIACF ) comes into its FY4Q25 earnings release on March 24 with a soft price action. The stock has been down ~46% in the past year while the Hang Seng Tech Index has declined ~19% in the same period. Xiaomi enters this earnings report as a company structurally very different from the prior year. It has become less of a smartphone comp...
Robert Way/iStock Editorial via Getty Images Xiaomi ( XIACY ) ( XIACF ) comes into its FY4Q25 earnings release on March 24 with a soft price action. The stock has been down ~46% in the past year while the Hang Seng Tech Index has declined ~19% in the same period. Xiaomi enters this earnings report as a company structurally very different from the prior year. It has become less of a smartphone company and more of a diverse digital goods retailer. Most remarkably, it found success in its auto segment, as EV deliveries tripled to 411,837 units in 2025 from 135,000 units in 2024. Operating profit for this segment turned positive in 3Q25. Despite this, the stock has materially derated since October 2025 when it was trading at ~30X forward earnings. It is now valued at ~25X P/E, hovering around its three-year historical average. Koyfin, Himalayas Research estimates Source: Koyfin, Himalayas Research estimates Most Recent Quarter Earnings Review: 3Q25 The company came into the last quarter's report with high expectations, but total revenue missed market estimates by 3% and the stock was sent down 13% in the following week. Metric Q3 2025 YoY Change vs. Consensus Total Revenue RMB 113.1B +22.3% Miss (est. RMB 116.5B) Adjusted Net Profit RMB 11.3B +80.9% Beat (est. RMB 10.3B) GAAP Net Profit RMB 12.3B +129.5% Beat (est. RMB 9.0B) Gross Profit Margin 22.9% +2.5pp YoY Record high Click to enlarge Source: Market estimates, Himalayas Research estimates Segment Revenue YoY Gross Margin Smartphone RMB 46.0B +1.6% 11.1% IoT & Lifestyle RMB 27.6B +5.6% 23.9% Internet Services RMB 9.4B +10.8% 76.9% Smart EV, AI & New Initiatives RMB 29.0B +199.2% 25.5% Click to enlarge Source: Company, Himalayas Research estimates We can group its revenue into two main categories—1) smartphone and other digital products, and 2) EV and AI. Growth rate for its legacy products have decelerated considerably while gross margins are showing strain, i.e. 11.1% in GM for smartphones. Surging me...
Cryptocurrency has been having a rough year. Since peaking at over $122,000 late last year, Bitcoin has tumbled to $73,986. Year to date, it's down 15.3% and dipped below $64,000 last month. Now, Bitcoin and other cryptocurrencies likely have potential, but I remain skeptical of them even more than a decade after the first Bitcoin was minted back in 2008. They can deliver incredible gains, but the...
Cryptocurrency has been having a rough year. Since peaking at over $122,000 late last year, Bitcoin has tumbled to $73,986. Year to date, it's down 15.3% and dipped below $64,000 last month. Now, Bitcoin and other cryptocurrencies likely have potential, but I remain skeptical of them even more than a decade after the first Bitcoin was minted back in 2008. They can deliver incredible gains, but they're generally so volatile that those gains can be wiped out rather quickly. I prefer companies that have a clear and obvious way they add value to the global economy and, by extension, generate returns for their holders. The prime example is ASML (ASML 3.62%). It's a Dutch company operating out of a relatively small and unassuming town in southern Netherlands called Veldhoven, but you and I rely on it (albeit indirectly) daily without thinking twice. ASML is, simply put, utterly foundational to the tech industry. It operates as a silent monopoly as the world's one and only provider of extreme ultraviolet (EUV) lithography machines. Dynamite with a laser beam EUV lithography machines are enormous technological marvels. Each one is about the size of a bus, costs upward of $400 million to purchase, and takes seven Boeing 747s or 25 trucks to move one to a customer. See, modern semiconductor chips are incredibly small. The most advanced ones are no larger than 7 nanometers (nm) which is about 1/10,000th the width of a human hair. They do go smaller than that, though. To create them, ASML's EUV lithography machines use an incredibly precise and powerful laser to etch the patterns the chips need to work onto them. ASML might not be the only lithograph producer in the world, but it is the only game in town for EUV machines. The older deep ultraviolet (DUV) machines you can purchase from a competitor like Canon can't create the 7nm or smaller chips needed today. Every semiconductor company from Taiwan Semiconductor Manufacturing to Samsung to Nvidia relies on ASML's lithography ma...
McGlinchey: Has America Thrown Its Service Members Into An Unjust War For Israel? Via Brian McGlinchey at Stark Realities President Trump’s decision to join Israel in launching a regime-change war on Iran has so far cost the lives of at least 13 American service members . More than 200 have been wounded, dozens seriously enough to require evacuations to military hospitals in Europe and the United ...
McGlinchey: Has America Thrown Its Service Members Into An Unjust War For Israel? Via Brian McGlinchey at Stark Realities President Trump’s decision to join Israel in launching a regime-change war on Iran has so far cost the lives of at least 13 American service members . More than 200 have been wounded, dozens seriously enough to require evacuations to military hospitals in Europe and the United States. Among them are individuals who’ve suffered traumatic brain injuries, burns and shrapnel wounds. One was facing potential amputation of an arm or leg. As much as these service members and their families are victims of Iran’s justified retaliation for a surprise attack perpetrated amid ongoing negotiations, they’re victims of a betrayal perpetrated by their president and the joint chiefs of staff, who cast them into an unconstitutional war of aggression, packaged in lies and initiated to advance the agenda of a foreign government , while undermining the security of their own country. Of course, US casualties comprise a small subset of the total bloodshed. In executing this unjust war, Americans have collectively inflicted far more death and dismemberment than they’ve endured , teaming up with their Israeli counterparts to kill more than 3,000 Iranians, including some 150 schoolgirls — mostly between age 7 and 12 — whose school was destroyed by Tomahawk cruise missiles at the war’s very start. Though it should have already been apparent, Operation Epic Fury should make clear that — service members’ good intentions aside — combat waged under the US flag rarely has anything to do with American security . Moreover — and I say this as former Army Reserve enlistee and Regular Army officer — anyone thinking of starting or extending a military career should understand that their government may send them to be killed, maimed or psychologically damaged, and to slaughter foreign innocents, so long as it helps those in power remain in the good graces of the extremists who rule Is...
Key Points ASML is the world's only provider of EUV lithography machines. EUV lithographs are needed to make the most advanced semiconductor chips. ASML saw its new orders more than double quarter over quarter at the end of 2025. These 10 stocks could mint the next wave of millionaires › Cryptocurrency has been having a rough year. Since peaking at over $122,000 late last year, Bitcoin has tumbled...
Key Points ASML is the world's only provider of EUV lithography machines. EUV lithographs are needed to make the most advanced semiconductor chips. ASML saw its new orders more than double quarter over quarter at the end of 2025. These 10 stocks could mint the next wave of millionaires › Cryptocurrency has been having a rough year. Since peaking at over $122,000 late last year, Bitcoin has tumbled to $73,986. Year to date, it's down 15.3% and dipped below $64,000 last month. Now, Bitcoin and other cryptocurrencies likely have potential, but I remain skeptical of them even more than a decade after the first Bitcoin was minted back in 2008. They can deliver incredible gains, but they're generally so volatile that those gains can be wiped out rather quickly. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » I prefer companies that have a clear and obvious way they add value to the global economy and, by extension, generate returns for their holders. The prime example is ASML (NASDAQ: ASML). It's a Dutch company operating out of a relatively small and unassuming town in southern Netherlands called Veldhoven, but you and I rely on it (albeit indirectly) daily without thinking twice. ASML is, simply put, utterly foundational to the tech industry. It operates as a silent monopoly as the world's one and only provider of extreme ultraviolet (EUV) lithography machines. Dynamite with a laser beam EUV lithography machines are enormous technological marvels. Each one is about the size of a bus, costs upward of $400 million to purchase, and takes seven Boeing 747s or 25 trucks to move one to a customer. See, modern semiconductor chips are incredibly small. The most advanced ones are no larger than 7 nanometers (nm) which is about 1/10,000th the width of a human hair. They do go smaller than that, though. To creat...
Trump tells Iran to reopen strait to shipping or face destruction of its energy infrastructure, as Tehran launches its most destructive attack yet on Israel Hello and welcome to our continuing live coverage of the US-Israel war on Iran and its repercussions for the Middle East, the world and the global economy. President Donald Trump has threatened to “obliterate” Iran’s power plants if Tehran doe...
Trump tells Iran to reopen strait to shipping or face destruction of its energy infrastructure, as Tehran launches its most destructive attack yet on Israel Hello and welcome to our continuing live coverage of the US-Israel war on Iran and its repercussions for the Middle East, the world and the global economy. President Donald Trump has threatened to “obliterate” Iran’s power plants if Tehran does not fully reopen the strait of Hormuz within 48 hours – threatening a new escalation, just a day after the president spoke of “winding down” the war . Iranian ballistic missile barrages wounded about 100 people in southern Israel on Saturday , striking the cities of Arad and Dimona after air defence systems failed to intercept at least two projectiles. The Israeli Air Force is investigating its failure to prevent the attacks. Benjamin Netanyahu called it “a very difficult evening in the campaign for our future”. The International Atomic Energy Agency said it had received no indication of damage to the Negev nuclear research centre, which is near to Dimona. In the early hours on Sunday, Israeli military announced in a brief statement that it was conducting strikes in Tehran. Saudi Arabia’s ministry of defence said it had detected three missiles launched towards Riyadh early in the morning. One of the missiles was intercepted, while two fell in an uninhabited area, it said Iran on Saturday launched two ballistic missiles with a range of 4,000 km (2,500 miles) at the US-British military base at Diego Garcia in the Indian Ocean, according to the Israeli military, which said it was the first time Iran had used long-range missiles since the conflict began on February 28. The British foreign secretary condemned the attacks on Diego Garcia, while stressing the UK has “taken a different position from the US and Israel” on the conflict . Yvette Cooper said ministers wanted to see a swift resolution to the war, adding the government was supporting defensive action against the “reckl...
saifulasmee chede/iStock via Getty Images Introduction The Index tracked by the Schwab U.S. Dividend Equity ETF ( SCHD ) underwent its annual reconstitution at the close of business day Friday, resulting in 25 changes that decreased SCHD's Energy sector exposure by 8%, with offsets primarily in Health Care and Technology. In this article, I'll highlight those changes in detail, compare and contras...
saifulasmee chede/iStock via Getty Images Introduction The Index tracked by the Schwab U.S. Dividend Equity ETF ( SCHD ) underwent its annual reconstitution at the close of business day Friday, resulting in 25 changes that decreased SCHD's Energy sector exposure by 8%, with offsets primarily in Health Care and Technology. In this article, I'll highlight those changes in detail, compare and contrast SCHD's current and prior portfolios from a fundamental perspective, and present some unique charts that will help you quickly see which stocks are responsible for driving SCHD's improved valuation and earnings growth characteristics. Following that analysis, I'll present SCHD's mid- and long-term total returns alongside other dividend ETF peers, while specifically highlighting its excellent capital protection features. Lastly, I'll address SCHD's growth and momentum weaknesses through a detailed ETF overlap and "X-Ray" analysis, showing readers how they don't have to move too far off of its 3.60% Index yield to achieve a better balance that can perform well in multiple market environments. As always, I hope you enjoy the read, and I look forward to being part of the exciting comments section that usually follows these annual reviews. SCHD Index Strategy: A Quick Refresher Author's Note: Schwab has not yet published an updated holdings list. However, holdings were updated on Friday for the TIGER US Dividend Dow Jones ETF , whose website labels it the "Korean version of SCHD." To ensure accuracy, I verified that its ticker (458730) also tracks the same Index as SCHD, and that the holdings list from March 2025 matched what Schwab eventually released last year. This will be the second straight year I have used this approach to bring these timely updates to the Seeking Alpha community. I'm sure most of you are familiar with SCHD by now, but it's always important to take a few minutes to ensure we're on the same page regarding the specific strategy followed, because there are a...
Japan’s Foreign Minister Toshimitsu Motegi said the nation isn’t considering unilateral negotiations with Iran to secure passage for its vessels through the Strait of Hormuz, following a report that Tehran is prepared to grant the access. “It’s not something we’re considering at this point,” Motegi said Sunday on a Fuji Television program. Instead, Japan is focused on ensuring “conditions where ev...
Japan’s Foreign Minister Toshimitsu Motegi said the nation isn’t considering unilateral negotiations with Iran to secure passage for its vessels through the Strait of Hormuz, following a report that Tehran is prepared to grant the access. “It’s not something we’re considering at this point,” Motegi said Sunday on a Fuji Television program. Instead, Japan is focused on ensuring “conditions where everyone can pass,” he said, stressing the importance of maintaining broad freedom of navigation. About 45 Japan-linked vessels remain affected in the strait, a critical artery for global energy supplies, Motegi said, adding that the government will take responsibility for their safety. The comments come after Kyodo News reported Saturday that Iranian Foreign Minister Abbas Araghchi indicated Tehran is ready to allow Japan-related ships to transit the waterway. Motegi said the issue of whether Japan would receive special treatment didn’t come up in a recent call. The Strait of Hormuz handles a significant share of global oil flows, making safe and stable transit a priority for energy-importing nations. Japan purchases almost all of its oil and more than 90% of it comes from the Middle East. On energy sourcing, Motegi took a negative view of buying from Russia — which remains under sanctions — as he said that imports via Hormuz would be more acceptable to European countries. Motegi also said that one of the two Japanese nationals detained in Iran has been released and is expected to return to Japan shortly.