AlexSecret/iStock via Getty Images By Jan Frederik Slijkerman , Chris Turner & Min Joo Kang Tech stock fundamentals continue to look solid It has been a volatile week for tech stocks, but the way we look at the broader technology markets is that the fundamentals for the semiconductor sector continue to look strong. This is because we expect investment in AI data centres to continue. We are also co...
AlexSecret/iStock via Getty Images By Jan Frederik Slijkerman , Chris Turner & Min Joo Kang Tech stock fundamentals continue to look solid It has been a volatile week for tech stocks, but the way we look at the broader technology markets is that the fundamentals for the semiconductor sector continue to look strong. This is because we expect investment in AI data centres to continue. We are also comfortable with current valuations for the equity sector, as the two-year forward-looking price earnings ratio for the Nasdaq continues to trade around its historical average, which is a low 20s earnings multiple. As the equity valuations are based on forward-looking earnings, it is important to note that for many names, FY27 sales expectations are being revised higher. Volatility may increase on technical market factors However, risks arise on the back of technical factors. As the market expects a couple of blockbuster IPOs, such as SpaceX ( SPCX ), Anthropic ( ANTHRO ) and OpenAI ( OPENAI ), investors may look to rebalance portfolios to make room for new investment opportunities. This could lead to some selling pressure for established benchmark names. Also, large technology platforms are well into a heavy investment cycle. So far, they have been able to raise the required cash from existing cash flow and additional debt. However, they are now increasingly resorting to equity financing, as we have witnessed from Alphabet’s recent equity offering. Also, as expectations for growth are high, any disappointment on projected growth may lead to a price adjustment of the respective stock. This is our take on the Broadcom sell-off yesterday. This becomes especially relevant as the macroeconomic outlook becomes more uncertain. The chart below shows that the world’s largest technology companies are expecting to invest more than US$700bn in 2026. Hyperscalers well into the investment cycle Source: Refinitiv Our fundamental outlook on the semiconductor sector remains positive. Large t...
Greater Manchester mayor’s proposals amount to a notable criticism of Keir Starmer’s policy in the area UK politics live – latest updates Andy Burnham has proposed a 20% cut to business rates for pubs with many smaller, family-run enterprises taken out of paying the levy altogether, in his first major policy initiative during the Makerfield byelection. Burnham’s plans amount to a notable criticism...
Greater Manchester mayor’s proposals amount to a notable criticism of Keir Starmer’s policy in the area UK politics live – latest updates Andy Burnham has proposed a 20% cut to business rates for pubs with many smaller, family-run enterprises taken out of paying the levy altogether, in his first major policy initiative during the Makerfield byelection. Burnham’s plans amount to a notable criticism of Keir Starmer’s policy in the area, with the Greater Manchester mayor saying: “Labour have got it wrong on small businesses.” Continue reading...
Smartwatches can track your health stats, but they also do a lot of other things you might not always want or need. The $100 Fitbit Air tracker ditches the screens that have become common on people's wrists, leaving behind a tiny puck of health sensors you can often forget you're wearing. You will not, however, forget that Google's new health platform is built around AI. The Air has no speaker, an...
Smartwatches can track your health stats, but they also do a lot of other things you might not always want or need. The $100 Fitbit Air tracker ditches the screens that have become common on people's wrists, leaving behind a tiny puck of health sensors you can often forget you're wearing. You will not, however, forget that Google's new health platform is built around AI. The Air has no speaker, and there's only one LED on the side to indicate battery level. You can double-tap the tracker to check the level, and that's about the end of on-device features. The vibration motor is only for alarms—it can't sync with notifications on your phone. That makes sense, given there is no screen to tell you what that buzz was all about. The Fitbit Air doesn't have a display or buttons—just a small LED on the side for battery status. Credit: Ryan Whitwam The stock Performance Band is simple, consisting of a smooth polyester yarn with small velcro pads and a metal loop. It's durable but does seem to absorb a bit of moisture. For swimming or heavy workouts, you'll probably want the silicone active band. This one hides the Air puck a bit more effectively, and it looks good in a sporty way. Read full article Comments
Wall Street’s historic weekly run is poised to come to a halt, with stocks and bonds falling after a solid jobs report added to speculation the Federal Reserve’s next interest-rate move will be a hike. Kevin Gordon, Head of Macro Research and Strategy for the Schwab Center for Financial Research at Charles Schwab, discusses the equity reaction to May jobs. (Source: Bloomberg)
Wall Street’s historic weekly run is poised to come to a halt, with stocks and bonds falling after a solid jobs report added to speculation the Federal Reserve’s next interest-rate move will be a hike. Kevin Gordon, Head of Macro Research and Strategy for the Schwab Center for Financial Research at Charles Schwab, discusses the equity reaction to May jobs. (Source: Bloomberg)
In this article BA Follow your favorite stocks CREATE FREE ACCOUNT Kelly Ortberg, chief executive officer of Boeing Co., during a media event at the Boeing Delivery Center in Seattle, Washington, US, on Wednesday, Jan. 7, 2026. M. Scott Brauer | Bloomberg | Getty Images RENTON, WASHINGTON — Boeing will begin building new 737 Max airplanes on July 6 at a final assembly line it's opening north of Se...
In this article BA Follow your favorite stocks CREATE FREE ACCOUNT Kelly Ortberg, chief executive officer of Boeing Co., during a media event at the Boeing Delivery Center in Seattle, Washington, US, on Wednesday, Jan. 7, 2026. M. Scott Brauer | Bloomberg | Getty Images RENTON, WASHINGTON — Boeing will begin building new 737 Max airplanes on July 6 at a final assembly line it's opening north of Seattle, CEO Kelly Ortberg told CNBC on Friday. The new 737 Max final assembly line in Everett, Washington, will serve as a catalyst for increasing Max production to 52 jets per month — a pace that's expected to begin next year. Boeing is currently building 47 Maxes per month after ramping output from 42 a month earlier this year. While Boeing wants to build and deliver more 737 Max planes, its production is capped by the Federal Aviation Administration, which put limits on its manufacturing after a door plug blew out on an Alaska Airlines plane in January 2024. That incident prompted lengthy reviews of safety and quality issues in the manufacturing process at Boeing. Ortberg and Boeing leadership have set a long-term goal for Max production of 63 per month, if the supply chain can support the increase. The new assembly line will start with production of the 737 Max 10, a stretch version of the single aisle plane that is expected to be certified by the FAA before the end of the year, clearing the way for the first 737 Max 10 deliveries. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Komthong Wongsangiam/iStock via Getty Images Unfortunately, the timing of EssilorLuxottica's ( ESLOF ) ( ESLOY ) valuation uplift coincided with less favorable market conditions. Our readers know that we have a fundamental long-term value approach and, for once, that we priced a company at a 35x P/E multiple, shares derated by more than 30% (Fig. 1). In our last update, Turning Positive On Market-...
Komthong Wongsangiam/iStock via Getty Images Unfortunately, the timing of EssilorLuxottica's ( ESLOF ) ( ESLOY ) valuation uplift coincided with less favorable market conditions. Our readers know that we have a fundamental long-term value approach and, for once, that we priced a company at a 35x P/E multiple, shares derated by more than 30% (Fig. 1). In our last update, Turning Positive On Market-Share Gain (Rating Upgrade) , we commented on the company's solid 2025 results, with sales ahead of our expectations. Our focus has shifted from the EBIT target to long-term sales opportunities, and we were particularly impressed by smart glasses and other innovation-led product categories (hearing and myopia solutions). Mare Ev. Lab Rating Update Fig. 1 Why are we still positive? Firstly, and aligned with our core investment thesis, EssilorLuxottica delivered the third consecutive quarter of double-digit top-line sales growth. The company achieved a turnover of +10.8% (Fig. 2), compared with the Wall Street average consensus of +9.7%. We're pleased to report that the company achieved this result while balancing a healthier product mix across channels: Professional Solutions (+10.8%) and Direct to Consumer (+10.7%). The company is the global leader in eyewear, with approximately 20% of market share. Double-digit growth reinforced our confidence in the sustainability of sales, especially in the smart glasses category. EssilorLuxottica Q1 sales evolution Fig. 2 Still related to sales growth, during the Q&A call with analysts, management reported no signs of a slowdown in April, even amid the escalation in the Middle East. Even after accounting for raw material cost pressures and higher logistics costs, the CFO confirmed that commodities represent only "a marginal part of our cost base." Looking at the details, there are also two key takeaways to report: 1) prescription lenses now account for over 30% of Ray-Ban Meta smart glasses sales compared to 20% in Q4 2025, and 2) smart...
JHVEPhoto/iStock Editorial via Getty Images Broadcom Inc.’s ( AVGO ) eye-watering rally this year was interrupted earlier this week by a disappointing fiscal Q3 outlook . Despite the robust fiscal Q2 revenue and earnings outperformance, the market was seemingly taken aback by its softer-than-expected fiscal Q3 AI revenue growth outlook. Specifically, management’s guided fiscal Q3 revenue of $29.4 ...
JHVEPhoto/iStock Editorial via Getty Images Broadcom Inc.’s ( AVGO ) eye-watering rally this year was interrupted earlier this week by a disappointing fiscal Q3 outlook . Despite the robust fiscal Q2 revenue and earnings outperformance, the market was seemingly taken aback by its softer-than-expected fiscal Q3 AI revenue growth outlook. Specifically, management’s guided fiscal Q3 revenue of $29.4 billion, which represents substantial acceleration towards 84% y/y growth, outperformed the average consensus estimate of $28.6 billion. However, AI semiconductor revenue was predicted at $16 billion, falling short of analyst expectations for $17.2 billion on average. This setback was further amplified by increasing competitive risks after AI leader Nvidia’s ( NVDA ) recent endorsement of Marvell ( MRVL ) in becoming the next $1 trillion company. Following Nvidia’s $2 billion investment earlier this year, Marvell has emerged as a key beneficiary of the AI leader’s accelerating networking momentum. This coincides with a broadening shift in AI infrastructure bottlenecks towards high-bandwidth, low-latency networking fabrics required to scale increasingly large cluster deployments and offset intensifying power and memory constraints. Marvell’s momentum is further reinforced by accelerating traction for its custom XPU-attached programs, with its management targeting a 20% market share of the $55 billion TAM—or more than $10 billion in related revenues—by FY 2029. However, Broadcom’s AI semiconductor bookings exiting fiscal Q2 alone have accelerated to more than $30 billion against just $10.8 billion shipped during the quarter, which reinforces strong visibility into future revenue conversion. It also supports continued growth from the $73 billion AI backlog the company had disclosed in fiscal Q4, which management expects to underpin Broadcom’s growth over the next 18 months. The durability of this momentum is also reflected in management’s expectation for AI semiconductor reven...
Key PointsVanguard Intermediate-Term Treasury ETF maintains a significantly lower expense ratio of 0.03% compared to 0.36% for Fidelity Investment Grade Bond ETF
Key PointsVanguard Intermediate-Term Treasury ETF maintains a significantly lower expense ratio of 0.03% compared to 0.36% for Fidelity Investment Grade Bond ETF
Jules Robinson outlines the targeted support needed to prevent accidental deaths, and Sara Hazzard urges investment in rehabilitation and the physiotherapy workforce Denis Campbell’s article ( GPs in England too ‘overloaded’ to help older people at risk of falling, say MPs, 3 June ) draws welcome attention to a severe but often overlooked health crisis. Research by the Royal Society for the Preven...
Jules Robinson outlines the targeted support needed to prevent accidental deaths, and Sara Hazzard urges investment in rehabilitation and the physiotherapy workforce Denis Campbell’s article ( GPs in England too ‘overloaded’ to help older people at risk of falling, say MPs, 3 June ) draws welcome attention to a severe but often overlooked health crisis. Research by the Royal Society for the Prevention of Accidents (RoSPA) shows that falls are the leading cause of accidental death in the UK, killing over 11,000 people a year, more than 9,000 of whom are aged 75 and over. And this crisis is getting worse, with a 12% increase in the rate of deaths over a single year. Falls are preventable, and should not be regarded as just an inevitable part of ageing. The causes are varied and complex, so intervention must take into account a person’s living environment and access to networks of support as well as their physical and mental health. Such a detailed multifactorial assessment requires not just specialist expertise but far more time than is available within a short GP appointment. RoSPA is calling for equitable access to falls and fracture liaison services, removing the variation in treatment available depending on postcodes. Without such targeted support there is a real risk that fatal falls will continue to increase, taking the lives of vulnerable people in tragic accidents that could be prevented. Jules Robinson RoSPA Continue reading...
Shareholders of Designer Brands Inc (Symbol: DBI) looking to boost their income beyond the stock's 2.5% annualized dividend yield can sell the January 2027 covered call at the $15 strike and collect the premium based on the 70 cents bid, which annualizes to an additional 13.9% r
Shareholders of Designer Brands Inc (Symbol: DBI) looking to boost their income beyond the stock's 2.5% annualized dividend yield can sell the January 2027 covered call at the $15 strike and collect the premium based on the 70 cents bid, which annualizes to an additional 13.9% r
Announcement that ‘policymakers’ need to be convened by US firm viewed as marketing ploy by some experts Anthropic has floated the idea of a worldwide “temporary pause” on AI development – and said it was going to convene “policymakers” to discuss the dangers of advanced AI – in its latest release touting the capabilities of its products. In a long post on Thursday, Anthropic detailed the progress...
Announcement that ‘policymakers’ need to be convened by US firm viewed as marketing ploy by some experts Anthropic has floated the idea of a worldwide “temporary pause” on AI development – and said it was going to convene “policymakers” to discuss the dangers of advanced AI – in its latest release touting the capabilities of its products. In a long post on Thursday, Anthropic detailed the progress of its AI model, Claude, towards “recursive self improvement” – that is, being able to make better and more powerful versions of itself. Recursive self-improvement is a bugbear of AI safety researchers, viewed as the key step for AI to become superintelligent and therefore unleash widespread consequences on humanity. Continue reading...
A Lululemon store inside a shopping mall in Shanghai. Photo: VCG. Lululemon Athletica Inc. cut its full-year sales outlook after first-quarter net profit fell 38.1%, as weak demand in North America offset strong growth in the Chinese mainland. The downgrade underscores the athletic-apparel maker’s struggle to sustain momentum in its core markets, where it faces intensifying competition from brands...
A Lululemon store inside a shopping mall in Shanghai. Photo: VCG. Lululemon Athletica Inc. cut its full-year sales outlook after first-quarter net profit fell 38.1%, as weak demand in North America offset strong growth in the Chinese mainland. The downgrade underscores the athletic-apparel maker’s struggle to sustain momentum in its core markets, where it faces intensifying competition from brands including Alo Yoga and Vuori, as well as a series of public-relations challenges involving its founder and a U.S. regulatory inquiry.