hirun/iStock via Getty Images The Moat Index added NVIDIA ( NVDA ), Broadcom ( AVGO ) and new names following its quarterly review, as tech dislocations created opportunity, while maintaining a value tilt and notable discount to fair value. The Morningstar ® Wide Moat Focus Index SM (the “Moat Index” or “Index”) underwent its quarterly review on March 20, 2026. The Index systematically targets att...
hirun/iStock via Getty Images The Moat Index added NVIDIA ( NVDA ), Broadcom ( AVGO ) and new names following its quarterly review, as tech dislocations created opportunity, while maintaining a value tilt and notable discount to fair value. The Morningstar ® Wide Moat Focus Index SM (the “Moat Index” or “Index”) underwent its quarterly review on March 20, 2026. The Index systematically targets attractively priced, high quality U.S. companies each quarter, as identified by Morningstar’s equity research analysts. Below are a few highlights from the latest review. The full results are available here: Moat Index Review Highlights: Tech Dislocations Driving Opportunities in Certain Industries Continued AI uncertainty paired with the evolving fallout on certain sub-industries within tech are helping to drive opportunities within the sector. The Moat Index put NVIDIA at full weight this quarter and AI-darling, Broadcom, also appeared attractive. Other companies in the software space were added to the Index for the first time. Cyber security company, Palo Alto Networks ( PANW ), and data analysis firm, Datadog, were both added amidst pressure on share prices. First Timers Abound Among the 11 companies added to the Index’s sub-portfolio under review in March were five newcomers: Blackstone ( BX ), Broadcom, Datadog ( DDOG ), Fair Isaac ( FICO ) and Palo Alto Networks. These companies have maintained wide moat ratings for some time with exception of Blackstone and Datadog, who were upgraded in late 2025. Otherwise, most were trading at relatively attractive levels for the first time in many years. SaaSpocalypse Has Muted Impact on Index Review While software has been a modest overweight relative to the S&P 500 Index, only three stocks were downgraded in Morningstar’s March reassessment of software companies. Adobe, Salesforce ( CRM ) and Workday ( WDAY ) all saw their moat rating downgraded to narrow and began their phaseout from the Index this quarter. 1Q 2026 Moat Index Rev...
Booking Holdings (NASDAQ: BKNG) is days away from executing the largest stock split in its history. Split-adjusted trading begins April 6, 2026, following a board-approved 25-for-1 forward split effective April 2, 2026. For a stock that closed at $4,117.51 on March 30, the split will bring shares into a price range accessible to far more ... A $4,000 Stock Is About to Become Affordable: Inside Boo...
Booking Holdings (NASDAQ: BKNG) is days away from executing the largest stock split in its history. Split-adjusted trading begins April 6, 2026, following a board-approved 25-for-1 forward split effective April 2, 2026. For a stock that closed at $4,117.51 on March 30, the split will bring shares into a price range accessible to far more ... A $4,000 Stock Is About to Become Affordable: Inside Booking’s Historic Split
Conference Board Confidence Unexpectedly Jumped Amid War In March Despite war (and rising gas prices) now on respondents' minds (the survey period for preliminary results was March 1 to 24), it is perhaps surprising that The Conference Board's Consumer Confidence rose more than expected in March (from 91.0 to 91.8), considerably better than the 87.9 expected. Even more intriguing, the Present Situ...
Conference Board Confidence Unexpectedly Jumped Amid War In March Despite war (and rising gas prices) now on respondents' minds (the survey period for preliminary results was March 1 to 24), it is perhaps surprising that The Conference Board's Consumer Confidence rose more than expected in March (from 91.0 to 91.8), considerably better than the 87.9 expected. Even more intriguing, the Present Situation rose from 120.0 to 123.3 (118 exp) while Expectations fell from 72.0 to 70.9 (68.4 exp) Source: Bloomberg Among demographic groups, confidence on a six-month moving average basis continued to moderate in March for consumers under age 35 and 55 and over, and virtually unchanged after a multi-month decline for those aged 35 to 54. Respondents under 35 remain the most optimistic and those 55 and over the least. On a six-month moving average basis, Generation Z remained the most confident among all generations, but their optimism slipped in March along with the Silent Generation, Baby Boomers, and Generation X. Only Millennials cited improved confidence in the month. By income, confidence on a six-month moving average basis continued to dip in six of eight income groups. Only consumers earning $25,000-34,999 and $125,000 and over were somewhat more optimistic. Oddly, with the rise in optimism, inflation expectations surged higher... Source: Bloomberg And even more surprising, the weakening labor market trend continued... Source: Bloomberg “Consumers’ write-in responses on factors affecting the economy continued to skew towards pessimism. Comments about prices and the cost of goods suggest that the cost of living remained at the top of consumers’ minds. As the war in Iran overlapped significantly with the survey sample period, comments about oil/gas and war/conflict spiked, while specific mentions of trade and tariffs decreased notably ," noted Dana M Peterson, Chief Economist, The Conference Board. Consumer confidence by political affiliation was little changed. Republica...
The number of job openings in the U.S. fell to 6.882M in Feb from 7.240M in January (revised from 6.946M), according to data released by the Bureau of Labor Statistics on Monday. That's almost in-line when compared with the 6.890M consensus. In February, the number of job openings decreased in accommodation and food services (-211,000) and in mining and logging (-12,000) The job openings rate slip...
The number of job openings in the U.S. fell to 6.882M in Feb from 7.240M in January (revised from 6.946M), according to data released by the Bureau of Labor Statistics on Monday. That's almost in-line when compared with the 6.890M consensus. In February, the number of job openings decreased in accommodation and food services (-211,000) and in mining and logging (-12,000) The job openings rate slipped to 4.2% in February from 4.4% in January. The number of layoffs and discharges remained unchanged at 1.7 million. The layoffs and discharges rate was little changed at 1.1 percent. The number of layoffs and discharges increased in retail trade (+72,000). Layoffs and discharges decreased in nondurable goods manufacturing (-26,000) and in federal government (-3,000). The quits rate were little changed at 1.9%. The number of hires decreased to 4.8 million (-498,000) in February and was down by 387,000 over the year. The hires rate decreased over the month to 3.1 percent. This was the lowest hires rate since April 2020 when it was also 3.1 percent. In February, the number of hires decreased in accommodation and food services (-178,000) and in construction (-88,000). More on U.S. Markets When Will Trump Pivot Beyond Words? S&P 500 Earning Estimates Are Surprisingly Rising And $100 WTIC Oil Is Not Expensive The Labor Market Is Flashing Recession Signals U.S. equities rally as Trump signals potential wind-down of Iran war Markets are seeing their first ‘buy signal’ since Liberation Day – HSBC’s Max Kettner
With the federal government set to pull back significantly from lending to students, private student lenders are gearing up to fill the void. A new report indicates a large share of students could be left behind.
With the federal government set to pull back significantly from lending to students, private student lenders are gearing up to fill the void. A new report indicates a large share of students could be left behind.
JHVEPhoto/iStock Editorial via Getty Images I mark a Strong Buy rating to Micron Technology, Inc. ( MU ) stock with a ~$689 target. The -9.9% selloff to $321.8 (at the time of writing) exposes a huge algorithmic mispricing. I mean that Wall Street values MU stock as a spot-market cyclical ( 6.18x FY26 P/E ), and it is ignoring Micron’s shift into a de-risked AI infrastructure asset. To clarify mor...
JHVEPhoto/iStock Editorial via Getty Images I mark a Strong Buy rating to Micron Technology, Inc. ( MU ) stock with a ~$689 target. The -9.9% selloff to $321.8 (at the time of writing) exposes a huge algorithmic mispricing. I mean that Wall Street values MU stock as a spot-market cyclical ( 6.18x FY26 P/E ), and it is ignoring Micron’s shift into a de-risked AI infrastructure asset. To clarify more here, by locking hyperscalers into 5-year Strategic Customer Agreements [SCAs] and integrating HBM4 base-die logic, Micron is securing foundry-like forward earnings and cash flow base that demands a 20x multiple . More so, I consider algorithmic compression as a Jevons Paradox. This factor is acting as a volume multiplier for edge-based Agentic AI instead of causing demand wipe-out. However, the existential risks to my Strong Buy thesis for MU stock lie beyond 2028. It is a looming FY2029 Depreciation Cliff from >$60 billion in cumulative CapEx FY2026+FY2027 ($25 billion + $35 billion), the Whip-Saw cleanroom reallocation threat, possibly capable of crashing standard DRAM spot prices, and Chinese sovereign lawfare [YMTC] threatening to ring-fence Micron out of EV and robotics global supply chains. SeekingAlpha The Memory Wall Inversion And Structural Moat Why the market’s ~6x Forward P/E is a mispricing of a newly established quasi-single-seller infrastructure asset. To expand here, I want to begin with the SCA paradigm shift from spot-market cyclical to de-risked infrastructure. Wall Street is currently valuing Micron stock as a cyclical commodity manufacturer (as I have observed in the 6.18x FY26 P/E and a 55th-percentile SOX index benchmark ). This is a big miscalculation. In Q2-FY2026, Micron executed its first 5-year SCA, and with that, it is shifting away from standard 1-year LTAs (Long-Term Agreements). Through locking hyperscalers into 5-year roadmaps (matching the depreciation cycle of semiconductor CapEx), Micron is rebuilding its cash flow beta to mirror that o...
JHVEPhoto/iStock Editorial via Getty Images I mark a Strong Buy rating to Micron Technology, Inc. ( MU ) stock with a ~$689 target. The -9.9% selloff to $321.8 (at the time of writing) exposes a huge algorithmic mispricing. I mean that Wall Street values MU stock as a spot-market cyclical ( 6.18x FY26 P/E ), and it is ignoring Micron’s shift into a de-risked AI infrastructure asset. To clarify mor...
JHVEPhoto/iStock Editorial via Getty Images I mark a Strong Buy rating to Micron Technology, Inc. ( MU ) stock with a ~$689 target. The -9.9% selloff to $321.8 (at the time of writing) exposes a huge algorithmic mispricing. I mean that Wall Street values MU stock as a spot-market cyclical ( 6.18x FY26 P/E ), and it is ignoring Micron’s shift into a de-risked AI infrastructure asset. To clarify more here, by locking hyperscalers into 5-year Strategic Customer Agreements [SCAs] and integrating HBM4 base-die logic, Micron is securing foundry-like forward earnings and cash flow base that demands a 20x multiple . More so, I consider algorithmic compression as a Jevons Paradox. This factor is acting as a volume multiplier for edge-based Agentic AI instead of causing demand wipe-out. However, the existential risks to my Strong Buy thesis for MU stock lie beyond 2028. It is a looming FY2029 Depreciation Cliff from >$60 billion in cumulative CapEx FY2026+FY2027 ($25 billion + $35 billion), the Whip-Saw cleanroom reallocation threat, possibly capable of crashing standard DRAM spot prices, and Chinese sovereign lawfare [YMTC] threatening to ring-fence Micron out of EV and robotics global supply chains. SeekingAlpha The Memory Wall Inversion And Structural Moat Why the market’s ~6x Forward P/E is a mispricing of a newly established quasi-single-seller infrastructure asset. To expand here, I want to begin with the SCA paradigm shift from spot-market cyclical to de-risked infrastructure. Wall Street is currently valuing Micron stock as a cyclical commodity manufacturer (as I have observed in the 6.18x FY26 P/E and a 55th-percentile SOX index benchmark ). This is a big miscalculation. In Q2-FY2026, Micron executed its first 5-year SCA, and with that, it is shifting away from standard 1-year LTAs (Long-Term Agreements). Through locking hyperscalers into 5-year roadmaps (matching the depreciation cycle of semiconductor CapEx), Micron is rebuilding its cash flow beta to mirror that o...