Here are the biggest calls on Wall Street on Thursday: Loop initiates Astera Labs at buy Loop says shares of the semiconductor manufacturer are compelling. " ALAB has opportunity across essentially all Gen AI silicon flavors with solutions that address the most critical 'pain points' inside the AI Server & Cluster experience." Read more. Bernstein initiates CoreWeave at underperform Bernstein says it sees too many negative catalysts. "With a plethora of options, we do not believe hyperscalers will be incentivized to sign further large contracts with CRWV. In fact, we believe hyperscalers are more likely to attempt head-on competition, going after GPU cloud business as the natural adjacency to traditional cloud, and cannibalizing CRWV's market." Deutsche Bank upgrades Dauch Corporation to buy from hold Deutsche says investors should buy the dip in the auto parts components company formerly named American Axle & Manufacturing before an acquisition. "We upgrade Dauch from Hold to Buy supported by relatively de-risked valuation amid recent stock weakness and our comfort with the company's margin targets going forward." Evercore ISI reiterates Apple as outperform Evercore says it likes the iPhone maker's recent product announcements. "We think the product announcements show AAPL's ability to manage and protect margins despite memory inflation and the Neo product line could actually help expand their userbase into the more mid-range market. Maintain OP and $330 target." Evercore ISI reiterates Oracle as outperform Evercore says it's sticking with the stock ahead of earnings next week. "While investors will likely focus on the magnitude of OCI revenue acceleration and what it implies for FY27, we believe ORCL remains well positioned to capitalize on global AI adoption as a key hyperscale partner to leading LLM providers and enterprises." BMO upgrades Westlake to outperform from market perform BMO says the chemical company is "best-in-class." "We are upgrading WLK t o Outpe...

If people are mining for gold, it’s good to sell shovels. And if there’s a gold rush, it’s good if 30% of your nation’s economy is based on shovel manufacturing. Taiwanese GDP rose at a mammoth 23.6% annualized rate in the last quarter of 2025, the fastest pace since the nation’s initial recovery from the 2008 recession, as ravenous demand for AI chips from Taiwan Semiconductor Manufacturing Company (TSMC) buoys the nation’s economy. Growth in net exports has driven the vast majority of this boom, as data center builders in the US, China, and beyond try to get their hands on as much compute as possible. Overall, the Taiwanese economy has grown more than 12% over the last year, the fastest annual growth rate in nearly 50 years, and GDP has increased almost 23% since the launch of ChatGPT in late 2022. Industrial production and export orders have both hit record highs. Gross exports exceed $63B per month, more than double the pre-COVID average. Manufacturing now makes up nearly 40% of the nation’s economy, the highest since the late 1980s. The global rush for artificial intelligence has been a massive boon to the island nation, pushing its economy back to the growth rates that characterized its post-WWII economic miracle. Yet Taiwan’s still caught in a difficult position as the world’s largest producer of cutting-edge chips and the primary manufacturer for AI chip designer NVIDIA. On one side of it is China, Taiwan’s chief geopolitical foe, the world’s second-largest consumer of computing power, and a country that has repeatedly shaken traditional AI behemoths with models like Qwen and Deepseek. On the other side is the United States—dependent on Taiwan for chips, desperate to contain China’s AI ambitions, and paradoxically hoping to keep China dependent on American companies’ hardware and software. Taiwan’s exports both across the strait and across the Pacific have skyrocketed over the last year, rising more than 70% as the US and China invest hundreds of billions in...

中共總書記、國家主席習近平，參加江蘇代表團審議。他稱江蘇要推進科技人才發展，又要求經濟大省需加強經濟韌性，以支撐全國經濟穩定。 本身是江蘇省全國人大代表的中共總書記習近平，下午參加江蘇代表團全體會議審議。在聽取了部分代表發言後，習近平表示，發展新質生產力，對推動高質量發展，增強經濟競爭力非常重要。 而江蘇在這方面基礎較好，要努力走在前列，在科技制高點上取得新突破。在提升傳統產業，培育壯大新興產業等方面，開創新局面。 向來被視為經濟大省的江蘇省，去年經濟總量達14.2萬億元人民幣，佔全國總量約十分之一。習近平強調經濟大省發展根基穩，抵禦外部衝擊能力強，才能支撐全國經濟穩定。要求江蘇在加強經濟韌性上，持續發力，全面融入全國統一大市場，助力暢通國內大循環。要擴大高水平對外開放，廣泛開拓全球市場，更好聯通國際循環，並要防範各種風險。 又稱江蘇要主動解決如何實現高質量充分就業、增加城鄉居民收入等課題，探索推進全體人民共同富裕的有效途徑。

Thanks for reading Hyperdrive , Bloomberg’s newsletter on the future of the auto world. War Impact Dubai is steeped in horsepower. Lamborghinis streak past the Burj Khalifa, their roaring engines echoing off glass towers. Mercedes-Benz G-Wagons crest man-made dunes at a track the German company built into the desert. In studios just off Sheikh Zayed Road, Porsche clients can order customized 911s. For carmakers, the emirate has long been a source of resilient demand, offering attractive margins and access to buyers largely unmoved by tariffs or stock-market tremors. The widening conflict in the Middle East is threatening that. In addition to claiming lives and displacing civilians, it’s jolted markets across the gulf, depressing stocks and pushing up energy prices . “By far the biggest risk is that a prolonged war continues to drive up oil prices and undermine confidence in the global economy, crashing auto sales well beyond the Gulf,” Bernstein analysts wrote in a note this week. While auto executives say the war isn’t inflicting the industrial impact of the supply-chain breakdowns of the pandemic or China’s rare-earth curbs, they’re on heightened alert. German tire maker Continental on Wednesday became one of the first major companies to notify investors of the risks of the military conflict, warning that it may affect sales and earnings by driving up costs and disrupting its operations. The industry is already grappling with muted European sales, uneven electric-vehicle demand and intensifying Chinese competition . Carmakers are writing off billions in battery investments while funding multiple powertrain technologies at once. Capital spending remains high, while margins are thin. “This is an existential moment for the global automotive industry, coming at a time when many are already financially vulnerable,” said Peter Wells , a business professor at Cardiff University. If oil stabilizes, demand may wobble but hold. But if energy costs stay elevated and asset pr...

格隆汇3月5日｜据央视财经，备受关注的生态环境法典草案即将提请十四届全国人大四次会议审议。这将是继民法典之后的我国第二部法典。法典草案不仅关注宏观生态，更聚焦普通人“家门口”的环境权益。其中，噪声污染防控是一个重要方面，直接影响广大老百姓的日常生活。从2023年开始，生态环境部在全国范围内推动“消除杂音、安心入眠”的宁静小区建设工作。记者从生态环境部了解到，截至目前，全国已建成3200多个宁静小区。宁静小区是通过噪声污染防控，为居民生活居住、学习办公提供安静舒适环境的住宅小区。一般来说，宁静小区原则上不存在多户居民长期反复投诉同一噪声污染问题，小区环境符合所在声环境功能区限值要求，居民普遍达成宁静共识等。

文章提及标的 璞泰来 -- 璞泰来（603659）公告，2025年实现营业收入157.11亿元，同比增长16.83%；净利润23.59亿元，同比增长98.14%。公司拟向全体股东每10股派发现金红利2.3元(含税)，不送红股，不以公积金转增股本。

美国初请失业金人数不及预期 2026-03-05 21:30:45 来源： 同花顺7x24快讯 分享 美国至2月28日当周初请失业金人数录得21.3万人，为2月7日当周以来新高，不及市场预期的21.5万人。

璞泰来（603659）公告，控股子公司嘉拓智能拟向不特定合格投资者公开发行股票并在北交所上市。嘉拓智能注册资本3.54亿元，主营业务为新能源（850101）智能制造装备的研发、生产和销售，主要产品为以涂布机为代表的锂电池（884309）关键制造设备。公司持股比例为71.54%。嘉拓智能拟公开发行股票不超过4651万股，募集资金将用于投资高端智能装备产业配套项目、核心技术研发及产业化能力提升项目及补充流动资金。

“速成车”踩刹车 2026年一开年，监管部门再一次收紧了对汽车开发的要求。这让不少“老汽车人”松了一口气。 一名头部车企的软件总工告诉36氪，在他十余年的从业生涯里，从未经历过去几年的激进时刻： 原本需要适配两年才能上车的新架构，现在10个月就得上车；之前机械验证要做的两次冬测试、两次夏测，被压缩成了一次冬测、一次夏测。 原本要验证4个月的整车控制软件，现在2个星期就可以上车。 他这种内行人才知道的隐忧还有：看似测试环节都在，但压缩时长伴随着高强度加班，实际操作中，需要测200次的项目最后可能只测了30次；测完10次，员工便可能说已经测过100次了。 “有些问题就会测不出来，其中可能包含高安全相关问题。比如经常车卖出去，门把手出不来等等B类问题还有一堆。” 因为智能电动车普遍的特点是可以空中升级，不少车交车时，一些软件还未开发完成，公司就寄希望于后续推出软件更新，这自然包括使用更新来修复验证不充分导致的问题。 一位头部造车公司的辅助驾驶人士说，“为了改进刹车体验，虽然有一版软件带有制动时机偏晚的安全隐患，也被推了出去。” “因为觉得反正可以OTA（Over-the-Air 远程在线升级），智驾老大顶住压力推了新版，结果撞车事故马上增加。”据36氪了解，因数次仓促OTA造成质量问题，这名智驾负责人也不得不引咎离职。 在手机行业，华为的旗舰机型Mate系列、小米数字系列手机的研发周期，约为12-18个月，一款机型的生命周期约为2年。 而如今，在拳拳到肉的车市竞争下，汽车行业一辆整车的开发节奏，已经普遍从3-5年，被压缩至一年半，甚至更少；汽车产品两年一换代，每年一升级，也已经成为主流车企的共识。 这种“中国速度”即是中国新造车业的竞争法宝，让人引以为傲；另一方面，无节制的卷生卷死，也带来了车辆的质量问题。 去年8月，监管部门推出OTA备案规定，首先遏制速度竞赛带来的软件乱象。 今年初，开始从整车层面对“速成车”的监管进行收紧。1月29日，工信部修订发布了《道路机动车辆产品准入审查要求》，一个核心变化在于：要求传统燃油车需完成3万公里可靠性测试，新能源汽车需完成1.5万公里。这是国家首次将可靠性测试纳入强制性规定。 如果说软件验证不充分，尚可通过在线升级加以补救，但硬件验证不充分，一旦有质量问题，车企则要付出沉重代价。 以新能源车上最关键的零部件——动力电池为例，36氪从...

A company that generates cash isn’t automatically a winner. Some businesses stockpile cash but fail to reinvest wisely, limiting their ability to expand. Not all companies are created equal, and StockStory is here to surface the ones with real upside. That said, here are two cash-producing companies that reinvest wisely to drive long-term success and one best left off your watchlist. One Stock to Sell: Amplitude (AMPL) Trailing 12-Month Free Cash Flow Margin: 6.8% Born from the realization that companies were flying blind when it came to understanding user behavior in their digital products, Amplitude (NASDAQ:AMPL) provides a digital analytics platform that helps businesses understand how people use their digital products to improve user experiences and drive revenue growth. Why Do We Think Twice About AMPL? Customers generally do not adopt complementary products as its 102% net revenue retention rate lags behind the industry standard Historical operating margin losses point to an inefficient cost structure Ability to fund investments or reward shareholders with increased buybacks or dividends is restricted by its weak free cash flow margin of 6.8% for the last year At $7.80 per share, Amplitude trades at 2.6x forward price-to-sales. To fully understand why you should be careful with AMPL, check out our full research report (it’s free). Two Stocks to Buy: Micron (MU) Trailing 12-Month Free Cash Flow Margin: 11% Founded in the basement of a Boise, Idaho dental office in 1978, Micron (NYSE:MU) is a leading provider of memory chips used in thousands of devices across mobile, data centers, industrial, consumer, and automotive markets. Why Are We Backing MU? Annual revenue growth of 61.7% over the past two years was outstanding, reflecting market share gains this cycle Exciting sales outlook for the upcoming 12 months calls for 114% growth, an acceleration from its two-year trend Earnings per share grew by 29.2% annually over the last five years and trumped its peers Mic...

Mapletree Investments Pte agreed to sell a portfolio of East Coast warehouses to EQT Real Estate for $575 million. The sale includes 4.4 million square feet (412,000 square meters) of real estate, with 25 warehouses stretching from Connecticut to Florida, according to a statement. The assets are held in two closed-end trusts. Most are in the Mapletree US & EU Logistics Private Trust, and one property is held in the Mapletree US Logistics Private Trust. The deal is expected to close this month and will mark the firm’s fourth US logistics divestment in the past year, according to the statement. EQT Real Estate said the acquisition expands its US infill logistics holdings, citing demand for well-located warehouse space tied to e-commerce and third-party logistics tenants. Mapletree launched the US & EU Logistics Private Trust in 2019 with $4.3 billion in assets under management, comprising 262 properties across the Americas and Europe. The US Logistics Private Trust was established in 2021 with $3.3 billion in assets spanning 155 US properties. Mapletree owns and manages more than 66 million square feet of US industrial real state and has about 2.6 million square feet under development. The US represented about 25% of its roughly $60 billion assets under management as of March 31, 2025, according to the statement.

Victory Capital Management Inc. trimmed its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,183,024 shares of the chip maker's stock after selling 13,891 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Intel worth $106,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Get Intel alerts: Sign Up Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Intel by 1.3% in the third quarter. Vanguard Group Inc. now owns 390,829,684 shares of the chip maker's stock worth $13,112,336,000 after purchasing an additional 4,925,949 shares during the last quarter. State Street Corp boosted its position in Intel by 1.6% during the 2nd quarter. State Street Corp now owns 203,617,629 shares of the chip maker's stock valued at $4,561,035,000 after buying an additional 3,168,824 shares during the period. Geode Capital Management LLC grew its holdings in Intel by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 97,563,079 shares of the chip maker's stock worth $2,174,854,000 after acquiring an additional 1,760,773 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Intel by 4.3% in the second quarter. Primecap Management Co. CA now owns 80,298,180 shares of the chip maker's stock valued at $1,798,679,000 after acquiring an additional 3,313,890 shares during the period. Finally, Norges Bank bought a new position in shares of Intel during the second quarter valued at about $1,579,378,000. Institutional investors own 64.53% of the company's stock. Key Headlines Impacting Intel Here are the key news stories impacting Intel this week: Intel Stock Up 5.8% NASDAQ:INTC opened at $45.58 on T...

美国2月28日当周首次申请失业救济人数 21.3万人，预期 21.5万人，前值 21.2万人。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

美国2月21日当周续请失业救济人数 186.8万人，预期 184.5万人，前值 183.3万人。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

How much a stock's price changes over time is a significant driver for most investors. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well. FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks. What if you'd invested in Micron (MU) ten years ago? It may not have been easy to hold on to MU for all that time, but if you did, how much would your investment be worth today? Micron's Business In-Depth With that in mind, let's take a look at Micron's main business drivers. Idaho-based Micron Technology has established itself as one of the leading worldwide providers of semiconductor memory solutions. Through global brands, namely Micron, Crucial and Ballistix, Micron manufactures and markets high-performance memory and storage technologies, including Dynamic Random Access Memory (DRAM), NAND flash memory, NOR Flash, 3D XPoint memory and other technologies. Its solutions are used in leading-edge computing, consumer, networking and mobile products. The company's mission is to be the most efficient and innovative global provider of semiconductor memory solutions. Micron reported revenues of $37.38 billion in fiscal 2025. Technology-wise, the company reports its financial results in three categories — DRAM, NAND and Other. A major portion of the revenues is derived from DRAM sales, which accounted for 76.4% of fiscal 2025 total revenues. NAND and Other categories contributed 22.7% and 0.9%, respectively. Micron also provides financial performance on a business unit basis. Previously, the company used to report its business segments as the Compute and Networking Business Unit, the Mobile Business Unit, the Embedded Business Unit and the Storage Business Unit. In the fourth quarter of fiscal 2025, Micron reorganized its business segments to Cloud Memory Business Unit (“CMBU”), Core Data Business Unit (“CDBU”), Mobile...

How much a stock's price changes over time is a significant driver for most investors. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well. Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks. What if you'd invested in Nvidia (NVDA) ten years ago? It may not have been easy to hold on to NVDA for all that time, but if you did, how much would your investment be worth today? Nvidia's Business In-Depth With that in mind, let's take a look at Nvidia's main business drivers. NVIDIA Corporation is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence (AI) based solutions that now support high performance computing (HPC), gaming and virtual reality (VR) platforms. NVIDIA’s GPU success can be attributed to its parallel processing capabilities supported by thousands of computing cores, which are necessary to run deep learning algorithms. The company’s GPU platforms are playing a major role in developing multi-billion-dollar end-markets like robotics and self-driving vehicles. NVIDIA is a dominant name in the Data Center, professional visualization and gaming markets where Intel and Advanced Micro Devices are playing a catch-up role. The company’s partnership with almost all major cloud service providers (CSPs) and server vendors is a key catalyst. NVIDIA’s GPUs are also getting rapid adoption in diverse fields ranging from radiology to precision agriculture. The company’s GPUs power the top supercomputer in the world, located at Oak Ridge National Laboratories in the United States, as well as the top supercomputers in Europe and Japan. Santa Clara, CA-based, NVIDIA reported revenues of $215.9 billion in fiscal 2026, up 65% from $130.5 billion in fiscal 2...

How much a stock's price changes over time is a significant driver for most investors. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well. FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks. What if you'd invested in Micron (MU) ten years ago? It may not have been easy to hold on to MU for all that time, but if you did, how much would your investment be worth today? Micron's Business In-Depth With that in mind, let's take a look at Micron's main business drivers. Idaho-based Micron Technology has established itself as one of the leading worldwide providers of semiconductor memory solutions. Through global brands, namely Micron, Crucial and Ballistix, Micron manufactures and markets high-performance memory and storage technologies, including Dynamic Random Access Memory (DRAM), NAND flash memory, NOR Flash, 3D XPoint memory and other technologies. Its solutions are used in leading-edge computing, consumer, networking and mobile products. The company's mission is to be the most efficient and innovative global provider of semiconductor memory solutions. Micron reported revenues of $37.38 billion in fiscal 2025. Technology-wise, the company reports its financial results in three categories — DRAM, NAND and Other. A major portion of the revenues is derived from DRAM sales, which accounted for 76.4% of fiscal 2025 total revenues. NAND and Other categories contributed 22.7% and 0.9%, respectively. Micron also provides financial performance on a business unit basis. Previously, the company used to report its business segments as the Compute and Networking Business Unit, the Mobile Business Unit, the Embedded Business Unit and the Storage Business Unit. In the fourth quarter of fiscal 2025, Micron reorganized its business segments to Cloud Memory Business Unit (“CMBU”), Core Data Business Unit (“CDBU”), Mobile...

美国1月进口价格指数同比 -0.1%，预期 0.1%，前值 0%。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

美国四季度非农生产力初值 2.8%，预期 1.9%，前值 4.9%。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

美国四季度非农单位劳动力成本初值 2.8%，预期 2%，前值 -1.9%。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

据新华社消息，脑机接口（886047）首次被纳入政府工作报告，成为全国两会期间科技热词之一，并被明确为未来产业发展的重点。科技部部长阴和俊表示，“十五五”时期将加强脑机接口（886047）等领域的科技攻关。此技术不仅是医学、计算机等多学科融合的前沿技术，还被视为未来高技术产业发展的关键支点。我国已在非侵入式技术路径上实现与国际并跑，并在产业应用上逐步推进，涉及智能交互、智能制造等领域。推动脑机接口（886047）发展需加强基础研究和多方协同创新。

美国1月进口价格指数环比 0.2%，预期 0.3%，前值 0.1%。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

Deagreez/iStock via Getty Images I typically write about "risk management." The science and art of playing defense alongside my investment offense. Because I think so few writers do. Collectively, the nearly 20-year run in US mega-cap stocks, with only brief dips to buy along the way, has truly spoiled a lot of investors. How else do we explain the constant bombardment of "buy now" articles, buy ratings on single stocks, and general happy-talk in investing circles? It has really run amok, particularly since the pandemic six years ago. I do not know what path stocks and bonds will take going forward. No one does. But I know I'm prepared for a very wide range of possible outcomes. That's where I think the masses get left out. Because everyone's trying to sell them the dream. Instead of teaching them to be their own portfolio manager. Foremost in that "job description"—learn to manage risk. I'm taking a break from that "beat" today. Sort of. I'm looking at stocks, specifically large-cap types, most of whom are part of the S&P 500. And I'm looking at them with a specific objective in mind, one I frankly do not spend much time on these days: stocks that can be significantly higher in price five years from now. But which have had negative returns the past five years. Finding weak performers among large-cap US stocks is much easier than many would believe. After all, they see this. 88% return on SPY the past five years. Outstanding. Data by YCharts What they probably don't see nearly as often is this, below. That's four index ETFs that invest in higher-dividend-yield stocks ( DIV ) ( SPYD ), small caps ( IWM ), or just the average stock of the top 1,000 in the US, including the biggies ( EQAL ). Data by YCharts Think about it this way. The biggest names have done so well, and the self-fulfilling prophecy around buying yesterday's winners has so fueled the S&P 500 index boom for so long, the rest are ignored. Not only are they ignored by many investors. They're also essenti...

starmaro/iStock via Getty Images It's been almost a year since I've been saying that Accel Entertainment ( ACEL )—and the entire regional consolidator thesis—is being undervalued by the market. Seeking Alpha Some noticed this after the acquisition of the Fairmount Casino in Collinsville, IL. This was Accel's entry into the brick-and-mortar segment, diversifying some of the risks of VGT routes and showing that they had the capacity to acquire, renovate, and integrate regional assets that many large operators might be overlooking . And it seems the market has finally looked more favorably upon Accel. But it wasn't because of any acquisitions they made this quarter (like Dynasty Games) or the partnership with Rebel Convenience Stores—it was their entry into the Chicago market with their VGTs. Right after the announcement in the Q4 FY 2025 earnings call, the stock has already jumped almost 20% and is now sitting right on top of my previous price target of $13.50-$14 per share. Seeking Alpha Even though I've already made some gains since my last article, today's bull run has expanded the total return of my last 'Buy' call here to just over 33%. This total return surpasses both the S&P in the same stretch (almost 4%) and other calls I've made within the gaming industry. Pollard Banknote ( PBL:CA ), for example, also has a thesis of regional consolidation within iLottery and charity games, but it hasn't taken off yet. But I think more important than throwing you some numbers on how Accel performed in Q4 (of course, we'll do that, but in a more summarized way), we need to understand the catalyst for the thesis. In the end, I'll make some tweaks to my price target based on the incrementality of this market on the Illinois VGT route. Accel's biggest route, by the way. Is Chicago a Turning Point for Accel? As soon as Accel received its license to operate within the state of Illinois—as soon as they began implementing the 2009 Act—the company quickly became one of the largest i...