Slowing growth and a reliance on intangible value threaten upside potential By Oliver Rodzianko Summary Apple’s revenue growth is projected to slow from a 10‐year average of 13.4% to roughly 6.4% over 3–5 years, following P/S rising from 4.88 to 8.88 and greater reliance on intangible brand value. Despite Q1 2025 revenue reaching $124.3B and an active device base of 2.35B, modest adoption of iPhone 16 AI features and the premium pricing of Vision Pro limit growth amid global competition. Valuation metrics near 15‐year highs and price forecasts of ~$448 (bull) to ~$392 (bear) in five years indicate restricted upside,…

Key News Asian equities were largely higher as Hong Kong had a very strong day, while Thailand, the Philippines, and Mainland China outperformed, Japan underperformed, and India was closed for Maha Shivaratri, a Hindu festival celebrated annually in honor of the deity Shiva, according to Wikipedia. Today’s subject line refers to Fleetwood Mac’s song “Go Your Own Way” as, unlike U.S.-listed China stocks Tuesday, Hong Kong shares had a very strong day. Growth stocks led the market higher. The most heavily traded stocks by value were Alibaba, up +4.82%, Xiaomi, up +5.83%, Tencent, up +3.44%, Meituan, up +0.94%, and Semiconductor…

Lincoln National has been named as a Top 10 dividend-paying financial stock, according to Dividend Channel, which published its most recent ”DividendRank” report. The report noted that among shares of financial companies, LNC displayed both attractive valuation metrics and strong profitability metrics. For example, the recent LNC share price of $37.33 represents a price-to-book ratio of 0.9 and an annual dividend yield of 4.82% — by comparison, the average stock in Dividend Channel’s coverage universe yields 4.3% and trades at a price-to-book ratio of 2.6. The report also cited the strong quarterly dividend history at Lincoln National , and favorable…

In the last few weeks, we’ve talked a lot about “hated” dividends set to soar as mainstream investors get it wrong on Trump 2.0. Last week, we covered utility stocks, “bond proxies” that look great here, and a 7.6%-yielding utility fund to buy now. This week we’re shifting to another despised corner of the market, again thanks to the new administration—healthcare. But our play isn’t some middling payer, like 3%-yielding Johnson & Johnson (JNJ). A 13% Dividend That Grows Instead, we’re going to drop a “1” in front of that “3” and buy a 13%-yielding healthcare closed-end fund (CEF). It’s…

Increasing inflation fears remain the primary concern weighing on financial markets. The U.S. economy is still digesting the pandemic-induced inflation spike while concerns over the new administration’s fiscal policies and potential increases in government debt are stoking new inflation fears and driving market volatility. Investing during periods of high inflation is difficult. Successful investors need to pay attention to the most recent economic data, the drivers of current inflation and what markets are saying. From that, investors can derive an investment strategy tailored to the current situation—because similar inflationary periods from the past may not have produced the same outcomes.…

Trip.com Earnings Review Trip.com (TCOM US, 9961 HK) reported financial results after the US closed yesterday/before Hong Kong’s opening. Trip.com shares fell by -11.92% in Hong Kong after earnings guidance was a touch light along with margins. After a strong performance run, investors were quick to shoot first. Big picture, it is fascinating that Trip.com had revenue of RMB 35.6 billion in 2019, revenue then fell to RMB 18.3 billion in 2020 but subsequently rebounded in 2024 to RMB 53.3 billion ($7.3 billion). So, the company is making more revenue today than before COVID. Impressive, in my opinion, though clearly,…

On 2/27/25, Delta Air Lines, Waste Connections and TransUnion will all trade ex-dividend for their respective upcoming dividends. Delta Air Lines Inc will pay its quarterly dividend of $0.15 on 3/20/25, Waste Connections Inc will pay its quarterly dividend of $0.315 on 3/13/25, and TransUnion will pay its quarterly dividend of $0.115 on 3/14/25. 10 Stocks Where Yields Got More Juicy » As a percentage of DAL’s recent stock price of $61.49, this dividend works out to approximately 0.24%, so look for shares of Delta Air Lines to trade 0.24% lower — all else being equal — when DAL shares…

We contrarians love a beaten-up corner of the market—especially these days, when cheap stocks (and funds) are so thin on the ground. Right now, real estate investment trusts (REITs) are that corner of the market: unloved, cheap and boasting high, stable dividends. And they have even more appeal with interest rates stabilizing and likely to move lower over time. We’re not taking advantage of this opportunity by purchasing our REITs individually or through an ETF, though. Instead, we’re looking to REIT-holding closed-end funds (CEFs). These income machines, kicking out 8%+ dividends, are no less than my top contrarian income plays…

A government shutdown could occur after March 14 if no new funding deal is struck by then. With the Presidency, Senate and House all controlled by Republicans, government shutdown risk might appear low. However, relatively high tensions in Washington mean that a shutdown may be more likely than not according to some prediction market forecasts, and may have market impact, especially if it negotiations are drawn out. Competing priorities, recent cuts to programs without Congressional input and a thin majority in the House could complicate budget negotiations. Recently shutdowns have been avoided at the last minute, such as in December…

Shares in medical firm Smith & Nephew leapt on Tuesday as ongoing restructuring delivered strong full-year sales and profits. At £11.37 per share, Smith & Nephew’s share price was 9% higher on the day. On a statutory basis, revenues at the FTSE 100 company rose 4.7% in 2024 to $5.8 billion. Underlying sales improved 5.3% year on year. Statutory and underlying revenue growth improved to 7.8% and 8.3% respectively in the fourth quarter, to $1.6 billion. Trading profit last year increased 8.2%, to $1 billion. This was helped by a 60-basis-point rise in the trading profit margin, to 18.1%. Pre-tax…