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

2026-10-26 23:20 • The Motley Fool Neutral Axe Cap view: Neutral

SpaceX reported impressive Q3 results with revenue more than doubling to $14.6 billion and adjusted EBITDA quadrupling to $8.8 billion, driven largely by its Super Intelligence segment. However, despite strong growth, the stock remains highly valued at 85x estimated future profits with a $2 trillion market cap, and analysts don't expect it to reach its previous $200 peak without a more significant catalyst.

Axe note: SpaceX's Q3 earnings impress, but steep valuation and capex-heavy outlook temper enthusiasm.

2026-10-26 22:35 • The Motley Fool Neutral Axe Cap view: Selective

Anthropic filed for its IPO with impressive first-half 2026 revenue of $16.3 billion (14x year-over-year growth) and narrowing operating losses, signaling improving unit economics. However, the author recommends passing on the IPO due to concerns about AI commoditization, competitive pricing pressure, and the lack of a durable competitive moat as rival AI models become 'good enough' for most use cases.

Axe note: Anthropic’s strong AI revenue growth impresses, but South African investors should watch from the sidelines.

2026-10-26 22:27 • The Motley Fool Positive Axe Cap view: Selective

Range Resources stock jumped nearly 18% after announcing an all-stock acquisition deal by EQT, creating a natural gas giant valued at over $50 billion. The merged company expects $325 million in annual cost savings and $20 billion in free cash flow over five years, positioning it to capitalize on rising LNG demand in Asia and Europe, plus growing natural gas demand from AI data centers.

Axe note: Range Resources jumps 18% on EQT acquisition, creating a natural gas powerhouse poised to benefit from LNG demand and AI-driven consumption.