Clear market notes built around the JSE, the rand, and what matters locally.

2026-07-20 00:30 • The Motley Fool Positive Axe Cap view: Selective

A $1,000 investment in Costco stock 20 years ago would have grown to $17,790 without dividend reinvestment, or $26,130 with reinvested dividends, significantly outperforming the S&P 500's $6,030 and $8,832 respectively. While Costco's valuation metrics appear fairly valued to slightly overvalued with a forward P/E ratio of 41.7, the company continues strong growth with 12% revenue and 15% net income increases, making it suitable for long-term investors despite not being a bargain at current levels.

Axe note: Costco’s long-term gains highlight the power of steady growth and dividends, but local investors should temper expectations given valuation concerns and no direct JSE link.

2026-07-19 23:31 • The Motley Fool Negative Axe Cap view: Selective

CoreWeave demonstrates significantly stronger revenue growth than Applied Digital, with Q1 2026 revenue exceeding $2 billion compared to Applied Digital's $126.6 million. While CoreWeave shows consistent quarter-over-quarter expansion driven by AI computing demand and a $100 billion backlog, both companies face challenges from high debt loads ($25 billion and $2.6 billion respectively) that have pressured share prices. CoreWeave trades at a lower price-to-sales ratio of 6, while Applied Digital's valuation multiple of 21 appears expensive relative to its more modest growth trajectory.

Axe note: CoreWeave’s revenue growth dwarfs Applied Digital’s, but large debt and mixed margins complicate the picture.

2026-07-19 23:30 • The Motley Fool Positive Axe Cap view: Selective

Anthropic is moving toward a potential October IPO at a $1.2 trillion valuation. Amazon, which has invested $13 billion and owns 15-20% of the company, stands to benefit significantly. Beyond the investment gains of $180-240 billion, Amazon will gain from Anthropic's $100+ billion in AWS commitments over the next decade, including AI infrastructure capacity. The IPO will strengthen Anthropic's financial position and support its aggressive AI spending, benefiting Amazon's cloud computing business.

Axe note: Anthropic’s potential $1.2 trillion IPO could significantly boost Amazon, with ripple effects for cloud tech demand and USD/ZAR.