Axe Capital Investments

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

Axe Capital Trading News shares simple market takes on the stories moving South African shares, the rand, and a handful of major currency pairs.

What you will find here:

1. JSE shares, South African companies, and the local knock-on effects of big market news.

2. The rand, interest rates, and a small group of forex pairs, with USD/ZAR at the centre.

3. Global stories only when they can actually change how a local investor might act.

Latest market stories

VOO Doesn't Hold SpaceX, Taiwan Semiconductor, Samsung Electronics, SK Hynix, or ASML. Meet the Vanguard ETF That Does.

2026-10-10 20:31 • The Motley Fool Positive Axe Cap view: Selective

The Vanguard S&P 500 ETF (VOO) excludes major AI-related semiconductor companies like SpaceX, Taiwan Semiconductor, Samsung Electronics, SK Hynix, and ASML due to S&P 500 inclusion rules requiring 12 months of public trading. The Vanguard Total World Stock ETF (VT) offers broader global diversification with exposure to these international semiconductor leaders at a comparable 0.06% expense ratio, making it potentially more attractive for investors seeking AI chip exposure.

Axe note: South Africans eyeing AI should note VOO misses key chipmakers, while Vanguard’s VT ETF covers them and global tech risks more evenly.

Firefly Aerospace vs. Rocket Lab: Which Industrials Stock Is a Better Buy in 2026?

2026-10-10 20:30 • The Motley Fool Neutral Axe Cap view: Selective

Firefly Aerospace and Rocket Lab represent competing approaches in the commercial space industry. Firefly delivers hypergrowth (163% revenue increase) but faces significant cash burn ($237.8M negative FCF) and customer concentration risks, with only 2 years of cash runway. Rocket Lab offers more financial stability with $2.3B net cash and 5 years of runway, but trades at a premium valuation (54x P/S vs. Firefly's 12x). For growth-focused investors seeking value, Firefly's lower valuation may appeal despite higher risks.

Axe note: Firefly’s rapid revenue surge contrasts Rocket Lab’s financial steadiness, shaping different risks and rewards for investors eyeing space-related plays.

Where Will Credo Technology Be in 3 Years?

2026-10-10 20:11 • The Motley Fool Positive Axe Cap view: Selective

Credo Technology is experiencing rapid growth in AI data center networking, with revenue expected to triple by fiscal 2028 as hyperscalers increase capital spending. The company specializes in high-performance cables and networking solutions that prevent costly GPU cluster disruptions. However, heavy customer concentration (61% from two customers) and high valuation multiples present significant risks.

Axe note: Credo’s rise in AI data center networking impresses but customer concentration and valuation caution investors.

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What we follow

We keep the focus on JSE shares, the rand, and the currency moves that matter most to South African investors.

JSE and rand