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

2026-10-13 20:37 • The Motley Fool Neutral Axe Cap view: Selective

Micron Technology raised its stock buyback authorization to $35.16 billion, over four times the $7.84 billion spent on buybacks over the past eight fiscal years. The company's exceptional free cash flow generation ($33.2 billion in Q4 fiscal 2026) enables this aggressive repurchase program, though CHIPS Act restrictions limit buybacks until December 2026. However, at current stock prices near $985, the buyback will have minimal impact on share count, retiring only about 3% of outstanding shares, as employee stock awards add roughly 11 million shares annually.

Axe note: Despite Micron’s $35 billion buyback plan, the real effect on shares and earnings is modest, offering limited insight for JSE investors beyond rand forex moves.

2026-10-13 20:22 • The Motley Fool Positive Axe Cap view: Selective

AST SpaceMobile and Rocket Lab represent two different approaches to the space economy: AST focuses on satellite-based cellular broadband connecting directly to smartphones, while Rocket Lab provides launch services and spacecraft components. Both companies are unprofitable but show different paths to profitability. AST expects to turn profitable by 2029 with 45 satellites operational by end of 2026, while Rocket Lab's proposed $8 billion acquisition of Iridium Communications could position it as a SpaceX competitor. The article concludes Rocket Lab offers a better entry point for growth investors due to more reasonable valuation ratios.

Axe note: Two very different space plays, but only one fits a South African flavour for growth investors.

2026-10-13 20:20 • The Motley Fool Positive Axe Cap view: Selective

Eli Lilly, Tractor Supply Company, and American Express have each doubled their dividend payouts over the past five years. Despite varying yields and current market challenges, all three stocks maintain modest payout ratios, suggesting room for continued dividend growth. These companies represent attractive long-term investments for dividend-focused investors seeking both income and capital appreciation.

Axe note: Eli Lilly, Tractor Supply, and American Express have doubled dividends in 5 years, signaling strength but limited direct South African plays.