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

2026-08-03 08:30 • The Motley Fool Positive Axe Cap view: Selective

Semiconductor stocks have declined 22% from their peak due to concerns about AI spending sustainability. Taiwan Semiconductor Manufacturing (TSMC) is highlighted as a top buy opportunity, leveraging its dominant 73% market share, technological lead, massive scale, and pricing power to maintain growth despite the sector pullback.

Axe note: A 22% drop in chip stocks spotlights Taiwan Semiconductor as a standout buy with strong growth and pricing power.

2026-08-03 08:15 • The Motley Fool Positive Axe Cap view: Selective

Microsoft reported strong fiscal 2026 Q4 earnings with 18% revenue growth driven by cloud computing, causing shares to surge 16%. The company expects positive free cash flow in fiscal 2027 despite high AI infrastructure investments. Microsoft emphasized that CPUs are equally important as GPUs for agentic AI, signaling a shift in compute capacity ratios and benefiting CPU manufacturers.

Axe note: Microsoft’s latest earnings highlight a growing role for CPUs in AI infrastructure, a trend South African investors should watch closely.

2026-08-03 08:02 • The Motley Fool Positive Axe Cap view: Selective

Amazon's stock has underperformed the broader market with only 2.5% gains over three months, but the article argues it presents a compelling buying opportunity. The company maintains dominant positions in e-commerce and cloud computing (AWS), with AWS growing 36.8% year-over-year. Despite investor concerns about $220 billion in capital expenditures, Amazon's valuation has become attractive with a P/E ratio of 22, down from 35 a year ago and well below its five-year median of 50.

Axe note: Amazon’s modest recent gains mask strong cloud dominance and a more reasonable valuation.