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With roughly 10 weeks to go before 2025 comes to a close, it looks as if it’ll be another banner year on Wall Street — and the evolution of artificial intelligence (AI) is a big reason why.

Empowering software and systems with AI capabilities affords them the opportunity to make split-second decisions and become more efficient at their assigned tasks without human intervention. It’s a game-changing technology that the analysts at PwC believe can add $15.7 trillion to the global economy by the turn of the decade.

Although dozens of public companies have benefited from the AI revolution, none have taken their spot on Wall Street’s mantle quite like Nvidia (NVDA 0.86%), the largest publicly traded company, and Palantir Technologies (PLTR 0.11%). Since 2022 came to a close, Nvidia stock has rocketed higher by more than 1,100% and added over $4 trillion in market value. Meanwhile, Palantir shares are approaching a nearly 2,700% cumulative gain, as of the closing bell on Oct. 16, 2025.

Image source: Getty Images.

While there’s a laundry list of reasons that can justify the breathtaking rallies we’ve witnessed in both companies, this dynamic AI duo has also issued a very clear warning to Wall Street that can’t be swept under the rug.

Nvidia’s and Palantir’s success derives from their sustainable moats

There are few business characteristics investors appreciate more than sustainable moats. Companies that possess superior technology, production methods, or platforms don’t have to worry about competitors siphoning away their customers.

Nvidia is best known for its world-leading graphics processing units (GPUs), which act as the brains of enterprise AI-accelerated data centers. Though estimates vary, Nvidia is believed to control 90% or more of the AI-GPUs currently deployed in corporate data centers.

No external GPU developers have come close to challenging Nvidia’s Hopper (H100), Blackwell, or Blackwell Ultra chips, in terms of compute abilities. With CEO Jensen Huang targeting the release of a new advanced AI chip in the latter half of 2026 and 2027, it seems highly unlikely that Nvidia will cede much of its AI-GPU data center share anytime soon.

To add fuel to the fire, Nvidia’s CUDA software platform has served as an unsung hero. This is the toolkit used by developers to build and train large language models, as well as maximize the compute abilities of their Nvidia hardware. The value of this software is exemplified by Nvidia’s ability to keep its clients within its ecosystem of products and services.

Meanwhile, the beauty of Palantir’s operating model is that no other company exists that can match its two core AI- and machine learning-inspired platforms at scale.

Gotham is Palantir’s true breadwinner. This software-as-a-service platform is used by the U.S. government and its primary allies to plan and oversee military missions, as well as gather and analyze data. The other core platform is Foundry, which is a subscription-based service for businesses looking to make sense of their data and automate some aspects of their operations to improve efficiency.

Palantir’s government contracts have supported a consistent annual sales growth rate of 25% or above, and played a key role in pushing the company to recurring profitability well ahead of Wall Street’s consensus forecast.

Yet in spite of these well-defined competitive edges, this AI-inspired dynamic duo has offered a stark warning to Wall Street and investors.

Image source: Getty Images.

Nvidia’s and Palantir’s insiders are sending a clear message to Wall Street

Though AI has been the hottest thing since sliced bread over the last three years, it’s not without headwinds.

For example, every next-big-thing technology and hyped innovation since (and including) the advent of the internet more than 30 years ago has endured an early innings bubble-bursting event. This is to say that all new technologies have needed time to mature, and evidence of that maturation isn’t wholly evident from the companies investing in AI solutions.

But perhaps the most damning message of all comes from the insiders at Nvidia and Palantir Technologies.

An “insider” refers to a high-ranking employee, member of the board, or beneficial owner holding at least 10% of a company’s outstanding shares. These are folks who may possess non-public information and know their company better than anyone on Wall Street or Main Street.

Insiders of publicly traded companies are required to be transparent with their trading activity. No later than two business days following a transaction — buying or selling shares of their company, or exercising options — insiders are required to file Form 4 with the Securities and Exchange Commission. These filings tell quite the tale with these two high-flying AI stocks.

Over the trailing five-year period, net-selling activity by insiders is as follows:

• Nvidia: $5.342 billion in net selling of shares
• Palantir: $7.178 billion in net selling of shares

In other words, insiders at the two hottest stocks in the AI arena have, collectively, sold $12.5 billion more of their own company’s stock than has been purchased since Oct. 16, 2020.

The stipulation to this publicly reported data is that most executive and board members at public companies receive their compensation in the form of common stock and/or options. To cover the federal and/or state tax liability tied to their compensation, company insiders often sell stock. In short, there are viable reasons for insiders to head for the exit that aren’t necessarily bad news.

What may be even more telling with Nvidia and Palantir Technologies is the complete lack of insider buying we’ve witnessed. The last time an Nvidia executive or board member purchased stock, based on Form 4 filings, was in early December 2020. Meanwhile, there’s been just one purchase by an executive or board member for Palantir since the company went public in late September 2020.

Neither Nvidia nor Palantir Technologies are inexpensive stocks, based on their price-to-sales (P/S) ratios. Over the trailing-12-month period, Nvidia and Palantir are valued at P/S ratios of 27 and 131, respectively. History tells us both figures aren’t sustainable over an extended period.

If no insiders from either company are willing to buy shares of their own stock, why should everyday investors?

The due diligence already completed towards Postecoglou’s possible replacement provides a clear indication of the jeopardy the Australian faces.

It would be hard for any manager to change the direction of travel in these circumstances.

Of course, Postecoglou will back himself to turn it around. That’s his nature.

Speaking in his pre-match news conference on Friday, he said: “Some look at the weeds but I look at what is growing. I am really excited as I have a group of young players willing to change.

“I just don’t fit, not here, just in general. If you look at it through the prism of ‘I’m a failed manager who’s lucky to get this job’ then of course this first five weeks looks like ‘this guy’s under pressure’. There is an alternative story that you could look at it.”

Owner Marinakis wants him to succeed, having backed Postecoglou’s track record of winning silverware as one of the key factors in why he appointed him in the first place.

Indeed, prior to their previous Premier League outing against Newcastle – that resulted in a 2-0 loss – well-placed sources told BBC Sport Postecoglou still maintained the immediate backing of the Forest owner.

There was, though, recognition that the result and manner of performance at St James’ Park would have a key influence on how Marinakis viewed his manager’s future.

Likewise, there is a feeling Postecoglou has not been helped by refereeing decisions.

For instance, during the Europa League defeat by FC Midtjylland – during which supporters turned on Postecoglou – earlier this month, there was a feeling as many as 14 key decisions went against Forest.

But with that said, the internal scrutiny on Postecoglou is intense.

Victory over Chelsea could mean he takes the first step towards what appears an unlikely road to recovery at Forest.

Lose the game, and the writing is already on the wall.

The proposal, which forms part of the ‘European Drone Defence Initiative’, is one of several flagship EU projects to prepare the bloc for a potential attack from Moscow.

The European Commission is in discussions to adopt a new counter-drone initiative to protect European Union airspace from Russian violations, as it seeks to strengthen border security with its own advanced drone technology after a string of drone incursions were reported in a host of EU and NATO member countries over the past month.

The proposal, which was included in a defence policy “roadmap” presented on Thursday, will aim for the new anti-drone capabilities to reach initial capacity by the end of next year and become fully operational by the end of 2027, according to a draft of the document.

It will then be presented to EU foreign affairs chief Kaja Kallas, European Commission Executive Vice President for Security Henna Virkkunen, and European Commissioner for Defence Andrius Kubilius.

European Commission President Ursula von der Leyen said last month that it was time for Europe to build a “drone wall” to protect its eastern flank, hours after some 20 Russian drones reportedly entered the airspace of EU and NATO member Poland.

The concept has since morphed into a broader “European Drone Defence Initiative” including a continent-wide web of anti-drone systems in an effort to win support from EU capitals.

The drone initiative is one of several flagship EU projects aiming to prepare the bloc for a potential attack from Russia as its more than three-year-long war in Ukraine grinds on.

In the meantime, as a counterpoint, Russia’s federal security chief said on Thursday that Moscow has no doubt about NATO’s security services’ involvement in incidents with alleged Russian drones over EU territory, Russian news agency RIA Novosti cited him as saying.

Following the drone incursion into Poland, other incidents were reported at airports and military installations in several other countries further west, including Denmark, Estonia and Germany, although there has not been confirmation that the drones were sent by the Kremlin.

For its part, NATO has launched a new mission and beefed up forces on its eastern border, but it is playing catch-up as it tries to tap Ukraine’s experience and get to grips with the drone threat from Moscow.

NATO Secretary-General Mark Rutte said on Wednesday that NATO was now “testing integrated systems that will help us detect, track and neutralise aerial threats” for use on the bloc’s eastern flank.

Ukrainian officials say Russia’s incursions into other countries’ airspace are deliberate.

“Putin just keeps escalating, expanding his war, and testing the West,” Andrii Sybiha, Ukraine’s foreign minister, said last month after the drones were spotted in Poland.

Other NATO allies have also claimed the incursions were deliberate.

However, experts in drone warfare say it is still possible that the incursions were not deliberate.

Russia has denied deliberately attacking any of the European countries, instead accusing them of making false allegations to cause tensions.

While Brussels wants to have the drone project fully up and running by the end of 2027, there is scepticism from some EU countries and fears that the bloc is treading on NATO’s toes.

“We are not doubling the work that NATO is doing; actually, we are complementing each other,” said Kallas.

Pacer Advisors, Inc. disclosed a significant reduction in its United Parcel Service (UPS 0.05%) holdings, selling 3,884,101 shares for an estimated $351.8 million, according to an SEC filing dated October 15, 2025.

What Happened

According to a filing with the Securities and Exchange Commission dated October 15, 2025, Pacer Advisors, Inc. sold 3,884,101 shares of United Parcel Service during the quarter. The estimated transaction value, based on the average share price for the quarter, was ~$351.8 million. Following the sale, the fund held 533,764 shares, worth $44.59 million.

What Else to Know

This sale reduced the United Parcel Service stake to 0.11% of Pacer Advisors’ total reportable U.S. equity assets under management as of September 30, 2025.

Top holdings after the filing:

• NASDAQ:NVDA: $569.61 million (1.65% of AUM as of September 30, 2025)
• NASDAQ:AMAT: $499.48 million (1.44% of AUM as of September 30, 2025)
• NYSE:XOM: $489.87 million (1.42% of AUM as of September 30, 2025)
• NYSE:NEM: $483.92 million (1.40% of AUM as of September 30, 2025)
• NYSE:MO: $467.63 million (1.35% of AUM as of September 30, 2025)

As of October 14, 2025, United Parcel Service shares were priced at $84.05, down 37.5% over the past year; shares have underperformed the S&P 500 by 47.9 percentage points on a price-change basis (ex-dividends) over the same period.

Company Overview

Company Snapshot

United Parcel Service, Inc. is a global leader in integrated freight and logistics, operating in over 200 countries and territories. The company leverages a vast transportation network and advanced technology to provide reliable, time-definite delivery services. UPS’s scale, diversified service offering, and operational efficiency underpin its competitive position in the logistics sector.

The company offers letter and package delivery, transportation, logistics, and supply chain solutions across U.S. domestic and international markets. It generates revenue through time-definite air and ground shipping, freight forwarding, customs brokerage, and ancillary logistics services.

United Parcel Service serves a diverse client base including businesses of all sizes, healthcare and life sciences organizations, and individual consumers globally.

Foolish Take

Pacer advisors, a private investment manager based out of Pennsylvania, recently disclosed the sale of nearly 3.9 million shares of United Parcel Service (UPS), worth more than $351 million. It’s another blow for a company whose stock has chronically underperformed key benchmarks recently.

For example, UPS shares have slipped nearly 48% over the last three years, while the S&P 500 has gained about 86% over the same period. That means UPS shares have underperformed the benchmark index by 134% dating back to late 2022.

Therefore, it’s no wonder that institutional support is drying up. Fund managers like Pacer are clearly retreating from the logistics giant. But why?

As is often the case, it comes down to fundamentals. Key metrics for UPS, like revenue, net income, and free cash flow have fallen steadily in recent years. Dating back to 2022, UPS’ revenue has fallen 10%; net income has dropped 50%; and free cash flow has slumped by an eye-popping 62%.

Clearly, a turnaround is needed for this iconic company. However, until the company can improve its overall fundamentals, retail investors may want to exercise caution with UPS stock.

Glossary

Assets Under Management (AUM): The total market value of all investments managed by a fund or investment firm.
Reportable U.S. Equity Assets: U.S. stock holdings that an investment manager must disclose in regulatory filings.
Stake: The ownership interest or position held in a company by an investor or fund.
Top Holdings: The largest investments in a fund’s portfolio, usually ranked by market value.
Dividend Yield: Annual dividends per share divided by the share price, expressed as a percentage.
Time-Definite Delivery: Shipping services that guarantee delivery by a specific date or time.
Freight Forwarding: The coordination and shipment of goods on behalf of shippers, often internationally.
Customs Brokerage: Service that helps importers and exporters comply with customs regulations and clear goods through customs.
Ancillary Logistics Services: Additional support services in logistics, such as warehousing, packaging, or inventory management.
TTM: The 12-month period ending with the most recent quarterly report.

Don’t just look at share price appreciation. Why? It doesn’t tell the whole story. Thousands of stocks pay dividends. And those dividends often significantly boost the stocks’ total returns.

You can especially make a lot of money when you invest in stocks with juicy dividend yields in addition to tremendous share price growth potential. Here are two ultra-high-yield dividend stocks with a total return potential of up to 41% over the next 12 months, according to select Wall Street analysts.

Kenvue

Kenvue (KVUE 1.98%) ranks as the largest pure-play consumer health company in the world. Johnson & Johnson (JNJ 0.31%) spun off Kenvue as a separate entity in 2023. The new business inherited an impressive lineup of products, including Band-Aid bandages, Listerine mouthwash, Neutrogena skin care products, and over-the-counter pain relievers Motrin and Tylenol .

In addition, Kenvue inherited J&J’s status as a Dividend King. The consumer health company has continued to increase its dividend since the spin-off two years ago. It now boasts an impressive streak of 63 consecutive annual dividend hikes. Kenvue’s forward dividend yield also tops 5.1%.

However, one reason why Kenvue’s yield is so high is that its stock has performed dismally. Revenue growth has been weak. Profits have declined sharply since the company became a stand-alone entity.

More recently, Kenvue announced a shake-up at the top in July with Kirk Perry stepping in as interim CEO while Thibaut Mongon was shown the door. The company also underwent a public relations crisis after President Donald Trump and Secretary of Health and Human Services Robert F. Kennedy Jr. claimed that the use of Tylenol during pregnancy could be linked with autism in children.

Kenvue responded quickly to refute those claims adamantly. So did several healthcare organizations, including the American College of Obstetricians and Gynecologists, the American Academy of Pediatrics, the Autism Science Foundation, and the Society for Maternal-Fetal Medicine.

Several Wall Street analysts think that the worst could be over for Kenvue. For example, Bank of America (BAC 5.11%) and JPMorgan Chase (JPM 2.80%) have price targets for the stock that reflect an upside potential of roughly 29%. If they’re right and Kenvue continues to pay dividends at least at the current level, investors could enjoy a total return of more than 34% over the next 12 months.

United Parcel Service

United Parcel Service (UPS 0.10%) is the world’s largest package delivery company. It operates in more than 200 countries and territories. UPS delivers roughly 22.4 million packages every business day.

Image source: United Parcel Service.

Although UPS isn’t a Dividend King like Kenvue, it has a pretty good dividend pedigree. The company has increased its dividend for 16 consecutive years. It has never cut the dividend since going public in 1999. UPS’ forward dividend yield is a mouthwatering 7.9%.

The bad news is that UPS’ tremendous yield is due largely to its atrocious stock performance over the last few years. Plenty of factors contributed to this decline, including higher costs resulting from a contract with the Teamsters union and lower shipment volumes following the COVID-19 pandemic.

Management’s decision to significantly reduce the shipments handled for Amazon (AMZN 0.05%) is causing revenue to decline. The Trump administration’s tariffs are especially hurting UPS’ business in its most profitable lane between China and the U.S.

However, some analysts on Wall Street are nonetheless upbeat about UPS’ prospects. As a case in point, Citigroup‘s (C 0.66%) latest 12-month price target is around 35% higher than UPS’ current share price. With such an ambitious target and the package delivery giant’s hefty dividend yield, UPS stock could deliver a total return in the ballpark of 42%.

Are these analysts right about Kenvue and UPS?

I’m iffy about whether or not Kenvue and UPS can deliver the lofty total returns over the next 12 months that some analysts predict. However, I think both stocks could be winners for investors over the long run. Kenvue and UPS could also be solid picks for investors seeking income.

The artificial intelligence (AI) revolution is transforming every corner of the global economy. Nvidia, the company at the center of this revolution, continues to be a Wall Street favorite for all the right reasons. As an undisputed leader in accelerated computing, the company’s hardware and software power much of the world’s AI infrastructure buildout.

Shares of Nvidia have already surged over 43% so far in 2025. However, despite the massive demand for its Blackwell architecture systems, software stack, and networking solutions, the stock may grow quite modestly in future months. With its market capitalization now exceeding $4.6 trillion and shares trading at a premium valuation of nearly 30 times forward earnings, much of the optimism is already priced in.

Memory giant Micron (MU 6.12%), on the other hand, is still in the early stages of its AI-powered growth story. Shares of the company have surged nearly 128% in 2025, which highlights the increasing investor confidence in its high-bandwidth memory and data center portfolio. Yet, Micron could still offer investors higher returns in 2026, while riding the same AI wave. Here’s why.

Image source: Getty Images.

Lower customer concentration risk

Wall Street has been highlighting one significant underappreciated risk for Nvidia. Nvidia’s revenues depend heavily on a few hyperscaler customers, with two accounting for 39% and four accounting for 46% of its revenues in the second quarter of fiscal 2026 (ending July 27, 2026). Many of these hyperscaler clients are developing proprietary chips, which may offer a price-performance optimization in their specific workloads. This may reduce their dependence on Nvidia’s chips in future years.

Micron’s revenue base is significantly more diversified than Nvidia’s. The company’s largest customer accounted for 17% of total revenue, while the next largest contributed 10% in fiscal 2025 (ending Aug. 28, 2025). The company has earned over half of its total revenues from the top 10 customers for the past three years. The company has a reasonably broad customer base, including data center, mobile, PC, automotive, and industrial markets.

Hence, compared with Nvidia, Micron’s lower concentration risk makes it more resilient in the current economy.

HBM demand and AI memory leadership

Micron’s high-bandwidth memory (HBM) products, known for their superior data transfer speeds and energy efficiency, are being increasingly used in data centers. HBM revenues reached nearly $2 billion in the fourth quarter of fiscal 2025, translating into $8 billion annualized run rate.

Management expects Micron’s HBM market share to match its overall DRAM share by the third quarter of fiscal 2025. The company now caters to six HBM customers and has entered into pricing agreements covering most of the 2026 supply of HBM third-generation extended (HBM3E) products.

Micron has also started sampling HBM fourth-generation (HBM4) products to customers. The company expects the first production shipment of HBM4 in the second quarter of calendar year 2026 and a broader ramp later that year.

Beyond HBM, Micron’s Low-Power Double Data Rate (LPDDR) memory products are also seeing strong demand in data centers. The data center business has emerged as a key growth engine, accounting for 56% of Micron’s total sales in fiscal 2025.

Hence, Micron seems well-positioned to capture a significant share of the AI-powered memory demand in the coming years.

Valuation

Micron appears to offer a stronger risk-reward proposition than Nvidia, even in the backdrop of accelerated AI infrastructure spending. The company currently trades at 12.3 times forward earnings, significantly lower than Nvidia’s valuation. Hence, while Nvidia’s premium valuation already assumes near-perfect execution and continued dominance, Micron still trades like a cyclical memory stock. This disconnect leaves room for modest valuation expansion to account for Micron’s improving revenue mix toward high-margin AI memory products.

Wall Street sentiment is also increasingly positive for Micron. Morgan Stanley’s Joseph Moore recently upgraded the stock from equal-weight or neutral to overweight and raised the target price from $160 to $220. UBS has reiterated its “Buy” rating and increased the target price from $195 to $225. Itau Unibanco analyst has initiated coverage for Micron with a “Buy” rating and target price of $249.

Analysts expect Micron’s earnings per share to grow year over year by nearly 100% to $16.6 in fiscal 2026. If the current valuation multiple holds, Micron’s share price could be around $204 (up 6% from the last closing price as of Oct. 9), with limited downside potential. But if the multiple expands modestly in the range of 14 to 16 times forward earnings, shares could fall in the range of $232 to $265, offering upside of 20% to 37.8%.

On the other hand, there remains a higher probability of valuation compression for Nvidia, leaving less room for growth. With diversified customers, increasing AI exposure, and reasonable valuation, Micron may prove to be the better semiconductor pick in 2026.

A NON-LEAGUE club has demolished the wall that was struck by former Arsenal star Billy Vigar leading to his tragic death.

The Chichester City ace collided with the pitchside barrier during the Isthmian Premier Division game at Wingate and Finchley last month.

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Vigar, 21, was placed into an induced coma following the accident after he hit his head against the wall.

The game was suspended just 15 minutes in and was abandoned completely after he had been airlifted to hospital.

He had suffered a serious brain injury, and an operation was unable to save his life.

He sadly died just days later on September 25.

Following the tragedy, the FA insisted that it would carry out a safety review of perimeter walls in the National League.

But officials at Wingate and Finchley have already made steps to increase safety around the pitch at the Maurice Rebak Stadium.

The Daily Mail has reported that work has been commissioned to make improvements.

The ground did comply with current regulations, but the club has now demolished the wall completely.

It follows on from a petition calling on brick walls around pitches to be banned reached over 4,000 signatures.

On the immediate review, a FA spokesperson said: “[It woudl] include looking at ways we can assist National League system clubs to identify and implement additional measures at their stadiums that they determine will help to mitigate any potential safety risks.”

Meanwhile, the PFA called for an investigation and demanded that players should “not be put at unnecessary and avoidable risk”.

Vigar, from Worthing, West Sussex, spent his youth career with Arsenal after joining at age 14 and signed a professional contract in July 2022.

He worked his way up to the U21 team in North London, alongside loan spells with Derby County U21 and Eastbourne.

He left the club permanently in 2024 after being unable to progress to the senior team, joining Hastings United in the Non-League Premier before his move to Chichester.

Full statement from Arsenal

Everyone at Arsenal Football Club is deeply sorry to hear of the tragic passing of Chichester City forward and former Arsenal academy player, Billy Vigar.

Billy joined our academy on schoolboy terms aged 14, after being scouted at his hometown club Hove Rivervale FC and excelled as a striker at Hale End, scoring 17 goals in his debut season.

In 2020, his performances earned him a scholarship and joined us full-time for the 2020/21 season, his intake including current players Charles Sagoe Jr, Remy Mitchell and others such as Omari Hutchinson, Charlie Patino and Brook Norton-Cuffy.

Quick, powerful and fiercely determined, his first season as a scholar was blighted by a serious hamstring injury, but he made up for it in his second, scoring four goals in 18 under-18 appearances and signed professional terms for the club at the end of that 2021/22 season.

Billy went on to appear for us in the PL2 and EFL Trophy and proved to be an asset across the forward positions and even deputised in defence – his versatility illustrating his commitment to the coaching staff and his team.

He enjoyed loan spells at Derby County and Eastbourne Borough and at the end of the 2023/24 season,  headed back to his native south coast, signing for Hastings United – prior to a move to Chichester just last month.

As well as his significant talent, Billy will always be remembered for his love of the game, pride at representing our football club – he once called the day he was spotted by our scouts as ’the most Important of his life’ – and a character beloved by teammates and coaches alike.

Our deepest condolences go out to the Vigar family and his many friends at this extremely difficult time.

By&nbspAP with Doloresz Katanich

Published on
09/10/2025 – 16:44 GMT+2

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Traders on Wall Street showed caution on Thursday morning although US stocks continue to hover near their record highs.

The S&P 500 rose 0.1% in the first few minutes of trading on Thursday, before slipping 0.35%. The index is coming off its eighth gain in the last nine days.

The Dow Jones Industrial Average fell 0.41%, and the Nasdaq Composite dropped 0.43%, following a tech rally that kept US markets in a good mood over recent weeks. On Wednesday, AI chip giant Nvidia and the tech-heavy Nasdaq index both hit new records.

However, the rally has been increasingly accompanied by a growing chorus of concerns that AI-related investments are overpriced. On Wednesday, the Bank of England and the IMF both issued warnings about growing risks of an AI-led market bubble bursting. The announcements add to the current uncertainty due to the shutdown in the US, among others.

“Concerns around excessive valuations, elevated levels of government borrowing, uncertain economic growth, and political turbulence are omnipresent,” said Russ Mould, investment director at AJ Bell.

“There are a multitude of factors that could trigger a market pullback, but for now, it is another day where there are more bulls than bears.”

In other corporate news, Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, on Thursday reported its third-quarter revenue climbed 30% year-on-year, beating market forecasts.

“There is no real sign of a slowdown in AI-driven demand in the latest numbers from TSMC,” Mould said. “The chip manufacturing giant may have seen a slight easing in demand month-on-month, but year-on-year the levels of growth are still impressive for a company of its size.”

Shutdown weighs on the market sentiment

Trading has been relatively muted recently following the US government’s latest shutdown. The closure is delaying the release of several major economic reports that usually move the market. Stocks have been drifting without them or other signals to change expectations for cuts to interest rates by the Federal Reserve, one of the major reasons the stock market has been on a tear since April.

Oil prices fell after Israel and Hamas agreed Wednesday to pause fighting in Gaza so that the remaining hostages there can be freed in the coming days in exchange for Palestinian prisoners.

The acceptance of elements of a plan put forward by the Trump administration represents the biggest breakthrough in months in the devastating two-year war.

US benchmark crude dipped 21 cents to $62.34 per barrel. Brent crude, the international standard, edged down 18 cents to $66.07 per barrel.

Gold shed some of its stellar gains but was still at $4,054.50 per ounce as of Thursday morning in the US.

Corporate news fuelling the trade

PepsiCo shares inched up over 1% on Thursday after the snack and beverage giant reported better-than-expected revenue in the third quarter despite weaker demand for its snacks and drinks in North America.

PepsiCo’s net income fell 11% to $2.6 billion (€2.24bn), but adjusted for one-time items, the company earned $2.29 per share, beating analysts’ forecasts by 3 cents.

Delta Air Lines easily topped Wall Street expectations for third-quarter profit. Delta expects recent momentum to carry through the end of the year and forecasts full-year profit of $6 per share, in the upper half of its previous guidance range. Delta shares rose 5.8% in premarket, lifting other major airlines’ shares along with it. United rose 3.9% and American jumped 4.9%.

Danish pharmaceutical company Novo Nordisk, the maker of weight-loss drug Wegovy, announced that it was acquiring San Francisco’s Akero Therapeutics for $4.7bn (€4.05bn) in cash.

Meanwhile, Ferrari saw its shares lose more than 13.8% after the Italian luxury sports carmaker offered a cautious earnings forecast on Thursday.

European sentiment remains mixed

Elsewhere, European markets opened in a mixed mood as traders weighed the details of the Israel–Hamas peace deal and mounting concerns over an AI bubble, with corporate updates, the looming US shutdown, and France’s political turmoil humming in the background.

Germany’s DAX added 0.28% while France’s CAC 40 was mostly flat. Britain’s FTSE 100 fell 0.29%.

With Tesla’s (TSLA 1.32%) core electric vehicle business struggling this year, analysts and investors were anxious to get a glance at how EV deliveries would trend in the third quarter. The company delivered big time, reporting close to 497,100 deliveries, smashing Wall Street estimates of of 447,600. However, Tesla’s stock dipped immediately following the news, as the strong beat was not enough to excite Wall Street. What gives?

Expiration of the EV tax credit

Tesla’s third-quarter deliveries of nearly 497,100 blew out estimates and rose 7% year over year. That’s a sharp reversal from the first two quarters of 2025, when the company reported deliveries that fell 12% year over year compared to the first half of 2024.

Image source: Tesla.

But analysts clearly knew the quarter was going to be strong because President Trump’s big legislative spending bill passed by Congress earlier this year eliminated the $7,500 EV tax credit on Sept. 30, the last day of the third quarter. It became evident that consumers would likely rush to purchase Teslas before the cost of the vehicles increased.

According to Gene Munster, managing partner at Deepwater Asset Management, Tesla saw a 35% year-over-year increase in its U.S. sales in the third quarter, which he attributes to the rush before the EV tax credit expiration. “Investors should largely throw out the positive number,” Munster said, noting that the “the future will be autonomy.”

Still, other analysts were more optimistic. Morgan Stanley analyst said that Q3 deliveries came in at the top end of hedge fund estimates ranging from 450,000 to 500,000 deliveries. Wedbush Securities analyst Dan Ives called the quarter a “massive bounceback” and said he is still high on the company’s autonomous vehicles and humanoid robotics businesses, which Ives and Wedbush analyst Scott Devitt think could catapult Tesla to a $2 trillion to $3 trillion market cap by 2026 or 2027.

Ultimately, I’m guessing the disappointing share action could be attributed to Tesla stock’s recent run-up. The stock is up close to 60% over the past six months.

Current state of the bull-bear debate

Tesla is still one of if not the most hotly debated stocks on Wall Street, with the bulls confident that it is the most innovative AI company in the world and the bears pointing to its staggering valuation of nearly 250 times forward earnings. As of this writing, Tesla trades at nearly $440 per share. The lowest Wall Street price target is an astounding $19 per share, while the high is $600 per share, which shows just how split the Street is on the name.

But one thing I think both the bulls and bears agree on is that the future of Tesla is going to come down to its autonomous driving business, for which Tesla is in the early stages of building out an autonomous ride-hailing fleet, and the humanoid robots business. If these businesses are as successful as analysts like Ives believe, than the stock can keep moving higher. But hiccups or a more competitive market than people think could send it tumbling.

Tesla has begun to launch pilot autonomous driving programs in select cities, while humanoid robots are still in prototype stage. The advantage of Tesla’s robotaxi business is that the vehicles can reportedly be built at a fraction of the cost of rival WayMo, which is also operating in several cities. However, it remains to be seen whether the technology can truly be perfected and deemed safe enough to be fully commercialized.

The simple reason I choose to avoid Tesla is that I think the market has assumed too much success in businesses that the public still knows far too little about. If Tesla is successful and jumps to $600 per share, that’s 40% upside, but if robotaxis and humanoid robots don’t work out as well as hoped, who knows that the stock is worth. As stocks get larger and surpass a $1 trillion market cap, maintaining the growth to hold such a high valuation becomes more difficult. The risk-reward proposition is not attractive to me.

Palantir Technologies (PLTR 0.79%) is one of the most popular artificial intelligence (AI) stocks on the market, especially among retail investors. Shares have advanced 140% year to date, after skyrocketing 340% last year. And the company recently got a big vote of confidence from a Wall Street analyst.

Mariana Perez Mora, who covers aerospace and defense at Bank of America, recently raised her target price to $215 per share, up from $180 per share. Mora’s forecast is now the most bullish on Wall Street, and it implies 17% upside from the current share price of $183.

Here’s what investors should know about Palantir.

Image source: Getty Images.

Palantir is a leader in artificial intelligence platforms

In her recent note, Bank of America analyst Mariana Perez Mora highlighted two qualities that differentiate Palantir. First, the company uses what it calls forward-deployed engineers (FDEs), developers that work directly with specific clients to build custom solutions. FDEs are a particularly compelling value proposition as more companies look to integrate artificial intelligence into workflows.

Second, Palantir designed its software around an ontology, a framework that serves as the digital twin of an organization. Think of an ontology as a cause-and-effect diagram that uses digital information to define the relationship between physical objects. It lets clients easily troubleshot, automate, and optimize business processes with artificial intelligence.

In short, whereas most analytics tools are built around data, Palantir designed its software around a decision-making framework. Chief Technology Officer Shyam Sankar told analysts on the second-quarter earnings call, “Our foundational investments in ontology and infrastructure have positioned us uniquely to deliver on AI demand.”

Indeed, Forrester Research ranked Palantir as the technology leader in its most recent report on artificial intelligence and machine learning (ML) platforms, awarding its AIP platform higher scores than similar products from Amazon, Microsoft, and Alphabet. And IDC ranked the company as the market leader in its latest report on decision intelligence software.

Bank of America says Palantir’s revenue could reach $18 billion annually by 2030

Palantir currently earns the majority of its revenue from government customers, and that business segment has regained its momentum due to demand for AI among defense and intelligence agencies. Government revenue growth has accelerated in six consecutive quarters and adoption is expanding beyond the U.S.

NATO earlier this year acquired Palantir’s Maven Smart System, an AI-powered warfighting platform already used across the U.S. military to improve battlefield targeting and supply chains. More recently, Palantir struck a five-year, 750 million-pound deal with the U.K. Ministry of Defense to help the U.K. military develop AI capabilities. That is the largest government contract outside the U.S. to date.

Mora at Bank of America thinks that momentum will continue as more countries consider the Maven Smart System. She estimates government revenue will reach $8 billion annually by 2030. However, Mora expects commercial revenue to eclipse that figure, reaching $10 billion by the end of the decade, as enterprises choose to buy Palantir’s AI operating system rather than build their own.

To summarize, Mora believes demand for artificial intelligence will be a major catalyst for Palantir, pushing total revenue to $18 billion annually by 2030. To put that in context, the company reported $3.4 billion in revenue over the last 12 months, so her forecast implies revenue growth of 35% annually over the next five-plus years.

Palantir is the most expensive stock in the S&P 500 several times over

Palantir is well positioned for future growth. Grand View Research estimates the data analytics market will expand at 29% annually through 2030, driven by demand for artificial intelligence and machine learning tools. As the market leader in decision intelligence software with deep expertise in AI/ML, Palantir is likely to report faster revenue growth than the overall market.

However, that still doesn’t justify the current valuation of 134 times sales. For context, the next closest stock in the S&P 500 is AppLovin with a price-to-sales multiple of 39. That means Palantir could lose 70% of its market value and still be the most expensive stock in the index.

Consider this scenario: If Bank of America is correct in forecasting $18 billion in revenue in 2030, Palantir would still trade at 24 times sales by that point if its stock price does not change at all. Only eight stocks in the S&P 500 currently have valuations above 24 times sales, so Palantir would still be one of the most expensive stocks in the index (by current standards) without any share price appreciation in the next five-plus years.

Here’s the bottom line: Palantir is an excellent business, but the stock is wildly overvalued. That does not mean shares will decline anytime soon. Palantir could very well reach Mora’s target price of $215 per share. But the risk-reward profile is undoubtedly skewed to the downside, so investors should make the prudent choice and look elsewhere. There are plenty of other AI stocks with more favorable risk-reward profiles.

Is Carnival (CCL -1.44%) (CUK -1.65%) stock’s run finally over? The cruise industry leader has made an incredible comeback after falling off a cliff when the pandemic started. It’s back to business and its usual, sales-generating self, with sky-high demand and record operating profits.

The stock price has matched its ascent, and Carnival stock is up 270% over the past three years. It has required a good amount of confidence from investors to stay with it over this time, but it’s paid off. However, after the most recent earnings results, the stock has started to drop again. Is this a buying opportunity? Wall Street analysts say yes. Are they right?

Image source: Carnival.

Endless seas, endless demand

Carnival is the largest cruise operator in the world, with 90 ships across its portfolio of brands, which includes Princess, Holland, Aida, and others. Demand is outstripping capacity, and it’s ordering more ships to handle all of the people who want to take a historic trip on a luxury liner.

It’s also working hard to generate that demand, with many new features and destinations to attract new and repeat business. In July, it opened Celebration Key, a Caribbean asset that’s exclusive to Carnival travelers. It’s keeping busy there, and management expects it to have visitors nearly every day this year, with two ships in port 85% of the time. It’s getting ready to launch or expand several other exclusive Caribbean assets.

Management is moving ships to where demand is highest, and it already has plans in the works to increase capacity in these locations for the 2027 and 2028 sailing seasons. It’s opened up bookings for new options in South Florida and Texas, and it’s opening new home ports in Norfolk, Virginia and Baltimore, Maryland. It also announced its first-ever dedicated Hawaii series sailing from California.

There’s incredible momentum at Carnival. Almost half of 2026 is already on the books, and in the U.S. and Europe, ticket prices are at historic highs. Occupancy trends remain at historical highs as well.

Are new problems emerging?

For all intensive purposes, Carnival’s fiscal third-quarter (ended Aug. 31) earnings were phenomenal. It beat guidance across metrics, and it reported its highest-ever quarterly adjusted net income at $2 billion. It raised full-year guidance across metrics as well, and this was the third time this year that it did so.

Other positive news is that as interest rates go down, it’s paying off its high debt and refinancing at better rates, saving millions in interest expense.

Despite the wins in basically every area, Carnival tumbled after the report, and it’s still falling, down 7% since the results were released.

It could be tied to the remaining debt of $26.5 billion or to the slowing down of some year-over-year increases. Revenue, for example, increased only 4% from last year. The market may also not have liked Carnival’s plan to convert some of its debt into stock, which dilutes the current outstanding shares. Another likely explanation is that crude oil prices rose on the day of the report, and all of the major cruise stocks fell.

Go with Wall Street

Wall Street sees this opportunity and says go for it. Of covering analysts, 73% call it a buy, with an average price target of 27% over the next 12 to 18 months and a high of 50%.

Investors should always take Wall Street’s approach with a grain of salt and dig further. But in this case, so long as you aren’t totally risk averse and you have a long-term investing timeline, I think Wall Street is on the money here. Carnival has demonstrated strong management, resilience, and cost efficiency, and it’s investing in its future. Keep in mind that you can’t time the market, and the stock could continue to drop before getting back up again, but this looks like an opportunity to buy Carnival stock on the dip.

Rebekah and Jamie Vardy have signed a huge TV deal with ITV which will give viewers an insight into their personal and professional lives as they start a new life in Italy

Rebekah Vardy may be able to put the humiliation of Wagatha Chrisitie firmly behind her after landing a lucrative TV deal to film a reality show with her husband and family. According to reports, Rebekah, 43, will document the couple’s personal and professional life as they film their transition to Italy.

Jamie has now signed for football team US Cremonese. As yet an official title has not been confirmed but The Sun has reported a working title of The Vardys. The family have already relocated to Lombardy with their five children.

And a source told the publication: “There is huge interest in Becky and her life as a Wag, a mother and a TV personality, not to mention the relationship between her and Jamie.”

They added: “She’ll be seen opening up her home and heart as she provides unprecedented access at a crucial point in their history. It’s a real coup for her to have this with a channel as huge as ITV.”

ITV declined to make an official comment. Rebekah was caught in a legal dispute with Coleen Rooney after she was accused of selling information to the media about Coleen’s private life.

News of Rebekah and Jamie’s TV deal with ITV comes after it was confirmed by Disney+ that Wayne Rooney and Coleen have signed a ten-part series focusing on their family life.

Viewers will get to see how Coleen deals with her business life while Wayne, who has retired as a professional footballer, now takes on the school run. Keen to give viewers a real insight into their life, fans will witness the highs and the lows.

Sean Doyle, Executive Director of Unscripted at Disney+, said: “We’ve seen great success over the past couple of years with our Disney+ Original unscripted series such as Finding Michael, Coleen Rooney: The Real Wagatha Story, Brawn: The Impossible Formula 1 Story and more recently, Flintoff.”

He added: “Our distinctive offering of combining the most talked-about household names and their incredible life experiences has hit the right note with our audiences who are looking for authentic and captivating real-life stories.”

Sean went on to say: “As our slate evolves, we want to continue working with world-class producers and homegrown talent in the reality space, with a focus on female-skewed factual.”

Another addition to the reality TV sector of the streaming platform is Jamie Laing and his wife Sophie, who were on Made In Chelsea.

Due to the success of their podcast the couple have become popular with the nation.

READ MORE: Little-known benefits of bamboo bedding as shoppers ditch cotton for this unusual material

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A MAN has died after his car veered onto the pavement and smashed into a wall.

Police rushed to reports of a crash at around 12pm this afternoon, on Guide Lane in Audenshaw, Greater Manchester.

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Officers believe that the driver of a Kia Rio suffered a medical episode behind the wheel.

The car then collided into the wall of a business property, Greater Manchester Police (GMP) said.

The driver of the Rio, a man in his 80s, tragically died on the way to hospital.

The Manchester force’s serious collision investigation unit is now appealing for help following the fatal crash in Tameside.

Officers have launched an investigation, and are asking for anyone with information to come forward.

More to follow… For the latest news on this story keep checking back at The Sun Online

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For much of the last 16 years, the stock market has been unstoppable. With the exception of the five-week COVID-19 crash in February-March 2020, and the roughly nine-month bear market in 2022, the bulls have been in firm control on Wall Street.

The catalyst for this ongoing outperformance primarily rests with Wall Street’s trillion-dollar businesses. Think Nvidia (NVDA 0.27%) and Apple, as well as newer trillion-dollar club members Broadcom and Taiwan Semiconductor Manufacturing, which is also known as TSMC.

All told, just 11 publicly traded companies have ever reached a $1 trillion market cap, not accounting for the effects of inflation, and 10 trade on U.S. exchanges. This includes all members of the “Magnificent Seven,” along with Broadcom, TSMC, and billionaire Warren Buffett’s company, Berkshire Hathaway.

Image source: Getty Images.

While Nvidia appears to have the inside path to retaining its current title as Wall Street’s most valuable public company by the turn of the decade, another Mag Seven member is ideally positioned to dethrone Nvidia and leapfrog the likes of Apple and Microsoft along the way.

Despite its AI dominance, Nvidia’s spot atop the trillion-dollar pedestal is far from secure

As of the closing bell on Sept. 24, artificial intelligence (AI) titan Nvidia clocked in with a market cap north of $4.3 trillion. It’s the first public company to have reached the $4 trillion mark, and is believed to have a chance to surpass a $6 trillion valuation, based on the price targets of Wall Street’s most optimistic analysts.

This optimism stems from Nvidia’s dominant position as the leader in AI graphics processing units (GPUs) deployed in enterprise data centers. Three generations of advanced AI chips — Hopper (H100), Blackwell, and now Blackwell Ultra — have enjoyed insatiable demand and extensive order backlogs.

Aside from clear-cut compute advantages, Nvidia’s AI hardware benefits from a persistent lack of AI GPU supply. As long as enterprise demand overwhelms available hardware, Nvidia is going to have no trouble charging a premium for its GPUs and netting a gross margin in excess of 70%.

While these competitive edges would imply that Nvidia’s spot atop the trillion-dollar pedestal is secure, historical precedent would beg to differ.

One of the prime threats to Wall Street’s largest public company is that every next-big-thing trend dating back more than three decades has eventually navigated its way through a bubble-bursting event early in its expansion. This is to say that investors consistently overestimate the early adoption and real-world utility of next-big-thing innovations. Though AI has undeniable long-term applications, most businesses are nowhere close to optimizing these solutions at present, or have yet to net a positive return on their AI investments.

Competition is something that can’t be ignored, either. Even with external competitors lagging Nvidia in compute ability, there’s a very real possibility of Wall Street’s AI darling losing out on valuable data center real estate and/or being undermined by delayed AI GPU upgrade cycles.

Many of Nvidia’s largest customers by net sales are developing AI GPUs to deploy in their data centers. Though these chips won’t be competing with Nvidia’s hardware externally, they’re considerably cheaper to build and more readily accessible. It’s a recipe for Nvidia’s competitive edge to dwindle in the coming years, and for Wall Street’s AI kingpin to cede its title as the most valuable public company.

Image source: Amazon.

This will be Wall Street’s most valuable public company come 2030

Although Apple or Microsoft would seem to be logical choices to reclaim the top spot that both companies have previously held, dual-industry leader Amazon (AMZN 0.78%) is the trillion-dollar stock that looks to have the best chance to become Wall Street’s most valuable company by 2030.

The operating segment that typically introduces consumers to Amazon is its online marketplace. According to estimates from Analyzify, Amazon’s e-commerce segment accounts for a 37.6% share of U.S. online retail sales. Amazon’s spot as the leading e-commerce giant isn’t threatened — although its operating margin associated with online retail sales tends to be razor thin.

While Amazon’s retail operations provide a face for the company, it’s a trio of considerably higher-margin ancillary segments that’ll be responsible for bulking up the company’s operating cash flow in the years to come.

Nothing has more bearing on Amazon’s long-term success than cloud infrastructure platform Amazon Web Services (AWS). Tech analysis firm Canalys pegged its share of worldwide cloud infrastructure spend at 32% during the second quarter, which is nearly as much as Microsoft’s Azure and Alphabet‘s Google Cloud on a combined basis.

AWS has been growing by a high-teens percentage on a year-over-year basis, excluding currency movements. The thinking here is that the inclusion of generative AI solutions and large language model capabilities for AWS clients will only enhance the growth rate for AWS.

As of the June-ended quarter, AWS was pacing more than $123 billion in annual run-rate revenue. Most importantly, AWS is responsible for almost 58% of Amazon’s operating income through the first half of 2025 despite accounting for less than 19% of net sales. Even if an AI bubble forms and bursts, application providers like AWS can weather the storm.

The other pieces of the puzzle for Amazon are advertising services and subscription services. When you’re drawing billions of people to your site monthly, it’s not difficult to command exceptional ad-pricing power.

It also doesn’t hurt that Amazon has landed exclusive streaming partnerships with the National Football League and National Basketball Association. When coupled with e-commerce shipping perks and exclusive shopping events, Amazon has plenty of pricing power with its Prime subscription.

Finally, Amazon is historically inexpensive. From 2010 to 2019, Amazon closed out each year between 23 and 37 times trailing-12-month cash flow. Based on Wall Street’s consensus, Amazon’s cash flow per share is forecast to grow from a reported $11.04 in 2024 to $27.52 in 2029.

In other words, Amazon is valued at only 8 times projected cash flow in 2029, which means it can reasonably add $2.5 trillion to $4 trillion in market value from here and still be trading at a significant discount to its average cash flow multiple during the 2010s.

Sept. 26 (UPI) — Several European leaders were to participate in talks Friday afternoon to discuss a “drone wall” to prevent drone attacks from Russia or others.

The event stems from recent unidentified drone sightings in Denmark over Skrydstrup air base as well as Esbjerg and Sonderborg. The country has had to close Aalborg Airport for the second time in three days for safety concerns.

Defense Minister Troels Lund Poulson said in a news briefing that the pattern of attacks appeared to be a “professional actor.”

“This is an arms race against time because technology is constantly evolving,” Lund Poulsen said. “We are going to find the people who are behind this.”

There have also been recent Russian drone sightings over Lithuania, Poland and Romania.

Petteri Orpo, prime minister of Finland, has called on Southern European states to help finance a proposed EU “drone wall” to protect the EU’s eastern border from aerial drone incursions. The system would cover eastern EU countries, including Finland, Estonia, Latvia, Lithuania and Poland.

“This is Europe’s border. We are defending Europe here,” The Helsinki Times reported that Orpo said. “We have shown economic solidarity to Southern Europe for 20 years. Now we expect solidarity in security.”

Helsinki’s defense minister Antti Häkkänen echoed the prime minister’s sentiment.

“We think that because northern Europe [showed] solidarity to southern Europe during the pandemic, now it’s our turn, that the eastern flank countries and the northern Europe’s countries must also [get] the solidarity from the western and southern Europe. Everyone has some kind of a crisis in some years, and now it’s our turn,” The Guardian reported Häkkänen said at a morning press conference.

The idea of a drone wall was endorsed this month by Ursula von der Leyen, president of the European Commission. Ukraine has a similar system in place, and the EU said it will learn from Ukraine to protect its lengthy eastern border.

Bulgaria, Denmark, Estonia, Finland, Latvia, Lithuania, Poland, Romania, Slovakia, and Ukraine are participating in Friday’s discussions.

EU defense minister Andrius Kubilius will lead the talks, with NATO also involved “at the technical level.”

Data by YCharts.

The S&P 500 (^GSPC -0.50%) fell 0.5% to 6,604.72, while the Nasdaq Composite (^IXIC -0.50%) declined 0.5% to 22,384.70. The Dow Jones Industrial Average (^DJI -0.38%) slipped 0.4% to 45,947.32. It was the third straight session of losses, with yields hovering near recent highs and traders reluctant to add risk ahead of key inflation data.

Attention is turning to Friday’s release of the Personal Consumption Expenditures (PCE) price index, considered the Fed’s preferred measure of inflation. The reading will help determine whether policymakers maintain a cautious stance on rate cuts after Chair Jerome Powell recently emphasized patience.

Economic signals added to the mixed picture. Jobless claims fell this past week, but hiring remains muted, pointing to a labor market losing steam. At the same time, second-quarter GDP was revised higher, underscoring resilience in growth despite tighter financial conditions.

On the corporate front, Intel (INTC 8.82%) rose 8.9% on reports of investment talks with Apple, while IBM (IBM 5.31%) gained 5.2% on results from a quantum computing trial with HSBC. CarMax (KMX -19.96%) tumbled 20% after missing earnings expectations and warning on weak sales trends.

Market data sourced from Google Finance on Thursday, Sept. 25, 2025.