Artificial intelligence (AI) seemed a boon to tech stocks until investor sentiment shifted in 2026. AI was suddenly seen as a disruptor to many businesses, particularly those operating in the software-as-a-service (SaaS) sector. This led to the "Saaspocalypse," where SaaS stocks experienced a widespread sell-off. According to Goldman Sachs , the reaction went overboard. CEO David Solomon described...
Artificial intelligence (AI) seemed a boon to tech stocks until investor sentiment shifted in 2026. AI was suddenly seen as a disruptor to many businesses, particularly those operating in the software-as-a-service (SaaS) sector. This led to the "Saaspocalypse," where SaaS stocks experienced a widespread sell-off. According to Goldman Sachs , the reaction went overboard. CEO David Solomon described the sell-off as "too broad," and believes AI won't create the sweeping destruction dreaded by Wall Street, stating, "There'll be winners and losers, and, you know, plenty of companies will pivot and do just fine." The situation has created an opportunity to pick up shares in great businesses at a discount. Two software stocks well-positioned to rebound from this year's sell-off are Figma (NYSE: FIG) and Atlassian (NASDAQ: TEAM) . Continue reading
magnez2/iStock Unreleased via Getty Images Thesis Using the consensus 2030 EPS estimate of $26.85 and anchoring on American Express's ( AXP ) own 18.91x historical average P/E, that yields a 13.4% total return CAGR from today's price. As laid out further along in the text, 13.4% beats the cost of equity hurdle of AXP. Internally the business is firing away, with card fees (revenue) increasing 18% ...
magnez2/iStock Unreleased via Getty Images Thesis Using the consensus 2030 EPS estimate of $26.85 and anchoring on American Express's ( AXP ) own 18.91x historical average P/E, that yields a 13.4% total return CAGR from today's price. As laid out further along in the text, 13.4% beats the cost of equity hurdle of AXP. Internally the business is firing away, with card fees (revenue) increasing 18% in Q1 2026, double the rate of transaction revenue. The top line is increasingly made up of subscription fees, as 70% of new accounts are fee-based. Any net positive EPS contribution in the time frame from the new agentic payment layer (ACE) is on top of the current buy rating. Q1 2026: Number crunching The Q1 2026 earnings delivered double digit growth on every major line item, with the exception being discount revenue. Metric Q1 2026 Q1 2025 YoY Total Revenue (net of interest exp.) $18.91B $16.97B +11.4% Net Card Fees $2.75B $2.33B +18.0% Discount Revenue $9.51B $8.74B +8.8% Card Member Services $1.98B $1.33B +48.7% Net Interest Income $4.69B $4.17B +12.5% EPS (Diluted) $4.28 $3.64 +18.0% Click to enlarge Source: Q1 2026 SEC 8-K Four key indicators in the earnings release showcase the increasing profitability: Firstly, net card fees increased 18%, which compares favorably against 8.8% discount revenue. This suggests fees are growing at nearly twice the rate of swipe revenue, a clear sign of improving profitability. CFO Christophe Le Caillec highlighted on the earnings call: "write-off dollars are up by only 4% year-over-year, while NII is growing at double-digit pace." Secondly, this is true scale and proper credit risk management. Increasing NII at double digits, but write-offs only saw a 4% hike, is another strong indicator of increasing profitability. Thirdly, NII also outgrew card balances, which increased 7%. Widening the spread between what it earns on the loan book and what it loses to default is another sign of improved profitability. Finally, EPS increased by 18%...
In the first quarter of 2026, Reddit reported revenue of US$663.41 million and net income of US$203.98 million, both sharply higher than a year earlier, as advertising and user engagement drove strong growth. Management also highlighted seven consecutive quarters of revenue growth above 60%, industry‑high gross margins above 90%, and rising contributions from AI-driven advertising tools and data l...
In the first quarter of 2026, Reddit reported revenue of US$663.41 million and net income of US$203.98 million, both sharply higher than a year earlier, as advertising and user engagement drove strong growth. Management also highlighted seven consecutive quarters of revenue growth above 60%, industry‑high gross margins above 90%, and rising contributions from AI-driven advertising tools and data licensing partnerships with Google and OpenAI. With Reddit’s quarterly results beating...
The war between Iran, Israel, and the United States and the subsequent closure of the Strait of Hormuz laid bare the fragility of modern shipping infrastructure. When Iran closed the strait, it cut off 25% of all the world's energy imports . Large quantities of fertilizer, industrial chemicals, livestock feed, helium, and minerals like sulfur and aluminum move through it as well. No matter how or ...
The war between Iran, Israel, and the United States and the subsequent closure of the Strait of Hormuz laid bare the fragility of modern shipping infrastructure. When Iran closed the strait, it cut off 25% of all the world's energy imports . Large quantities of fertilizer, industrial chemicals, livestock feed, helium, and minerals like sulfur and aluminum move through it as well. No matter how or when the war comes to an end, we'll be left in a brave new world where open sea lanes can't be taken for granted. MP Materials (NYSE: MP) and Cameco (NYSE: CCJ) are some of the best ways to play the era being ushered in by the Iran war. Continue reading
Sanmina Corporation's strategic pivot into AI data center hardware manufacturing is driving triple-digit revenue growth and signaling a major valuation reset.
Sanmina Corporation's strategic pivot into AI data center hardware manufacturing is driving triple-digit revenue growth and signaling a major valuation reset.
一件看似「反常」的人才大迁徙，正在硅谷悄然发生…… 事情是这样的，前两天，一位博主 Henry Shi 在 X 上发文称，自己看到科技界正在发生奇怪的事情， 「一些曾经管理着数十亿美元公司业务的 CTO，纷纷离职，转而加入 Anthropic，去做一名个人贡献者 (IC， Individual Contributor)。」 看到这一帖文，确实好奇：这些技术大拿集体从明星公司「降级」，去到 Anth...
This buzzy quarter is best enjoyed on one of the many tree-lined terraces, eating gourmet wraps, sipping bio wine and listening to live jazz Named for its 19th-century neoclassical church , Notre-Dame du Mont was once a site where sailors who’d survived shipwrecks and storms made offerings of thanks. Now locals and visitors make a pilgrimage to this vibrant quarter for its restaurants, indie shops...
This buzzy quarter is best enjoyed on one of the many tree-lined terraces, eating gourmet wraps, sipping bio wine and listening to live jazz Named for its 19th-century neoclassical church , Notre-Dame du Mont was once a site where sailors who’d survived shipwrecks and storms made offerings of thanks. Now locals and visitors make a pilgrimage to this vibrant quarter for its restaurants, indie shops and street art. Voted Time Out’s coolest neighbourhood in the world in 2024, Notre-Dame du Mont has retained its laid-back charm while continuing to grow, stretching south on Rue de Lodi. Since December 2025, the church’s parvis has been pedestrianised. Removing the urban roar of scooters has returned the quarter to its village-like ambience – best enjoyed on one of the many tree-lined terraces. Continue reading...
Exclusive: Union body finds workers describing themselves as ‘gambling’ because wages felt like the outcome of chance rather than work The practice of using “dynamic pricing” to set pay on gig economy platforms including Uber should be banned because it leaves workers at the mercy of shadowy algorithms with no certainty over their earnings, trade union leaders have urged. In a report exposing the ...
Exclusive: Union body finds workers describing themselves as ‘gambling’ because wages felt like the outcome of chance rather than work The practice of using “dynamic pricing” to set pay on gig economy platforms including Uber should be banned because it leaves workers at the mercy of shadowy algorithms with no certainty over their earnings, trade union leaders have urged. In a report exposing the human cost of the gig economy practice, the Trades Union Congress said pay was becoming decoupled from time, skill or effort. Instead, work had become a speculative practice with the rewards determined by an algorithmic process with little transparency. Continue reading...
After subscribing to the Claude chatbot, mystery payments started to appear on one family’s credit card bill. They are not alone David Duggan* was so impressed with the ability of the Claude chatbot to answer medical questions and organise family life, that a $20-a-month (£15) subscription seemed like money well spent. But then his wife spotted two $200 payments on his credit card bill for gift ca...
After subscribing to the Claude chatbot, mystery payments started to appear on one family’s credit card bill. They are not alone David Duggan* was so impressed with the ability of the Claude chatbot to answer medical questions and organise family life, that a $20-a-month (£15) subscription seemed like money well spent. But then his wife spotted two $200 payments on his credit card bill for gift cards to use the artificial intelligence tool. Continue reading...
Cheshire villagers are letting lawns grow wild to improve diversity and reconnect with nature on their doorstep Ian Waddington was crouched in his garden last summer, inspecting loose paving, when he lifted a slab and spotted something extraordinary: a tiny field mouse nestled in a hollow, feeding four babies – each half the size of his little finger. “It was astonishing. Like life in miniature,” ...
Cheshire villagers are letting lawns grow wild to improve diversity and reconnect with nature on their doorstep Ian Waddington was crouched in his garden last summer, inspecting loose paving, when he lifted a slab and spotted something extraordinary: a tiny field mouse nestled in a hollow, feeding four babies – each half the size of his little finger. “It was astonishing. Like life in miniature,” he says. After decades in the construction industry, the 86-year-old has found a new passion in retirement – nature. The discovery of the field mice made him realise his garden could be a thriving habitat for animal and plant life. This year, Waddington joined the No Mow May movement and allowed his garden grow wild through spring. Continue reading...
Singapore wealth-tech firms are increasingly using Hong Kong as their first major overseas expansion market, betting that the city’s large pool of idle savings, deep wealth base and role as a regional financial hub will support the scaling of their retail investment platforms. The latest entrant, Chocolate Finance, launched in Hong Kong last month with a product targeting retail investors’ idle ca...
Singapore wealth-tech firms are increasingly using Hong Kong as their first major overseas expansion market, betting that the city’s large pool of idle savings, deep wealth base and role as a regional financial hub will support the scaling of their retail investment platforms. The latest entrant, Chocolate Finance, launched in Hong Kong last month with a product targeting retail investors’ idle cash. It offers 3.8 per cent annualised returns on the first HK$100,000 (US$12,763) with no minimum...