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

2026-09-28 09:23 • The Motley Fool Mixed Axe Cap view: Selective

Despite being down 35% year-to-date, Alnylam Pharmaceuticals has rebounded 25% since late July and maintains strong analyst support with 18 of 21 analysts rating it as a buy or strong buy. The stock's attractive valuation (19.7x forward earnings, 0.32 PEG ratio) and favorable market dynamics—including reduced competition from a failed rival drug and extended patent protection for Pfizer's competing therapy—support the bullish outlook. However, investors should monitor demand normalization for Amvuttra and potential developments from the failed Wainua trial.

Axe note: Strong analyst support, competitive setbacks for rivals, and compelling valuation keep Alnylam attractive.

2026-09-28 09:20 • The Motley Fool Positive Axe Cap view: Selective

Oracle and Salesforce are both investing heavily in AI, but with different approaches. Oracle is building expensive cloud infrastructure for AI computing with strong revenue growth (121% YoY), but faces concerns about massive capex spending ($28.5B in Q1) and delays on its $165B Project Jupiter data center. Salesforce is integrating AI agents into its CRM software through partnerships with Alphabet and Anthropic, showing strong quarterly results (11% sales growth) with lower capital intensity. The analyst favors Salesforce as the better enterprise AI stock due to lower risk and more proven product-market fit, though both companies could be long-term winners.

Axe note: Salesforce’s AI partnerships and lower capex risk make it a more attractive bet than Oracle for the South African market.

2026-09-28 07:37 • The Motley Fool Positive Axe Cap view: Selective

With 10-year Treasury yields at 5.23% (highest since 2007), the article compares this risk-free return against S&P 500 index fund investments. The S&P 500 needs only 4% annual earnings growth to match the Treasury's return over a decade, a threshold historically met in 80% of 10-year periods since 1950. While the Treasury offers immediate income, the index fund's earnings can compound long-term, making it preferable for investors with longer time horizons, though valuation multiples pose a key risk.

Axe note: With 10-year US Treasury yields hitting 5.2%, South African investors face important trade-offs between local equities and currency risks.