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

2026-08-09 09:30 • The Motley Fool Positive Axe Cap view: Selective

Super Micro Computer booked over $60 billion in AI server orders in Q4 and projects gross margins of 15-17%, nearly double prior guidance. However, the stock trades around $30 per share due to market concerns: not all orders are firm commitments, the company is raising $7 billion through equity financing (causing dilution), and an internal review of export control issues is underway.

Axe note: Super Micro Computer’s $60 billion AI server orders highlight massive demand, but risks temper enthusiasm.

2026-08-09 09:20 • The Motley Fool Positive Axe Cap view: Selective

e.l.f. Beauty reported strong fiscal Q1 results with 36% revenue growth to $479.4M, driven by its Rhode brand acquisition which contributed $160M in sales. The company raised full-year guidance and is expanding Rhode's distribution through Sephora and international markets while launching into hair care. With a forward P/E under 25, the analyst views the stock as having significant upside potential.

Axe note: e.l.f. Beauty’s Rhode acquisition boosts growth, but South African investors should weigh currency and market factors before diving in.

2026-08-09 09:15 • The Motley Fool Negative Axe Cap view: Selective

The article examines how bond ETF prices respond to Federal Reserve rate cuts using historical data from 2023-2026. While short-term Treasuries typically rise when the Fed cuts rates, long-term Treasuries are more influenced by economic conditions, inflation expectations, and risk premiums. Analysis of the iShares 20+ Year Treasury Bond ETF shows mixed results: it gained 4% when cuts were signaled in December 2023 but fell 2% after the September 2024 cut due to rising inflation concerns. Long-term Treasury holders have struggled as inflation remains elevated.

Axe note: Long-term bond ETFs like TLT have struggled despite Fed rate cuts, a cautionary tale for rand investors eyeing bonds.