money

Some investors look for stocks that have good growth potential, while others look for stocks that can provide consistent income. It’s not always an either-or thing as some stocks have proven to do both.

Case in point: energy company MPLX (MPLX 2.05%). Although MPLX may not be a household name like other top energy companies, the stock has been on an impressive run over the past five years. In that span, it’s up close to 186%, while the S&P 500 is up 95% (as of Sept. 9).

No one can predict if the stock will continue growing at its current pace, but one thing’s for sure: Its ultra-high dividend is a dream for investors interested in income stocks.

Image source: Getty Images.

How MPLX’s business works

You can think of the energy industry as three parts: upstream, midstream, and downstream. Upstream companies explore for and produce oil and natural gas; midstream companies focus on storing and processing; and downstream companies refine, market, and sell end products like the gasoline you buy at gas stations.

Some larger companies may operate in two or three of the phases, but MPLX solely operates in the midstream section. Formed by Marathon Petroleum, it owns pipelines, processing plants, storage facilities, and other infrastructure that moves and conditions oil, natural gas, and natural gas liquids (NGLs).

MPLX says it handles over 10% of all natural gas produced in the U.S.

MPLX has a shareholder-friendly business structure

MPLX isn’t structured like your typical corporation. It’s a master limited partnership (MLP), meaning its profits and losses are passed on to partners (investors) to avoid paying taxes on the corporate level, allowing it to pay out more money to its investors.

Its current 7.6% dividend yield is below its 9% average over the past five years, but it’s still more than six times the S&P 500’s average.

MPLX Dividend Yield data by YCharts

MPLX’s dividend payout won’t be consistent like typical corporations because it depends on its distributable cash flow (DCF). However, its DCF has had a compound annual growth rate (CAGR) of 6.9% since 2021.

MPLX has shown solid financials in recent years

MPLX makes money by charging fees for transporting, storing, and processing oil, natural gas, and NGLs. These are typically long-term contracts, which help provide the company with stable and predictable cash flow.

In the second quarter, MPLX generated $3 billion in revenue, which was down around 1.6% year over year. Its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) — which focuses strictly on its profits from core operations — was $1.7 billion, up 5% year over year.

MPLX isn’t a company that will typically produce double-digit percentage revenue growth consistently, but what matters most to investors is its DCF because that determines its dividend payout (the main reason many investors invest in the stock to begin with).

MPLX’s DCF in the second quarter only increased 1% year over year to $1.42 billion, but it was able to pay out $0.9565 per share compared to $0.8500 per share in the same quarter last year.

Should you own MPLX’s stock?

An ultra-high dividend yield is great for income investors, especially when it’s as high as MPLX’s. However, that alone shouldn’t be the sole reason you invest in a stock, because it could be a yield trap. Thankfully, when it comes to MPLX, that doesn’t seem to be the case.

MPLX likely won’t experience tech-like high growth over the long term, but it has solid growth opportunities. One of the key ways MPLX grows is via acquiring systems and assets that expand its footprint.

A recent example is its acquisition of Northwind Midstream, which it purchased for $2.375 billion. The company expects this to increase its treating capacity by roughly three times by the second half of 2026 and return mid-teen percentages, which is pretty impressive.

If you don’t mind dealing with the additional tax step needed when dealing with MLPs and their distributions (like filing a Schedule K-1 form), then MPLX can be a good income addition to your portfolio.

The Dow Jones Industrial Average (^DJI 1.36%) moved 3.2% higher in August, with five of its 30 constituent stocks rallying over 10% each. While the laggards didn’t decline as sharply, the fall in two of the three worst-performing Dow stocks of August was hard to justify.

Image source: Getty Images.

1. Microsoft: Down 5%

Shares of Microsoft (MSFT 0.20%) fell 5% last month because investors booked profits after the tech stock soared to all-time highs of $555.45 on July 31, and its market capitalization briefly surpassed $4 trillion for the first time ever.

On July 31, Microsoft posted 18% revenue and 24% net income growth for its fourth quarter, driven by artificial intelligence (AI) and cloud computing. Its cloud computing unit Azure logged the biggest revenue jump of 39% among all products. Microsoft projects double-digit growth in revenue and operating income for fiscal year 2026 (ending June 30, 2026).

2. Caterpillar: Down 4%

Shares of Caterpillar (CAT 2.04%) hit all-time highs of $441.15 on July 31. But unlike Microsoft, Caterpillar’s numbers sent the stock 4.3% lower in August.

Caterpillar’s second-quarter revenue declined 1%, and earnings per share slumped 16% year over year on unfavorable pricing. Although the construction and mining equipment giant expects higher revenue in 2025, it sees tariffs as a significant headwind to profitability. It projects free cash flow from its machinery, energy, and transportation businesses to be around $7.5 billion in 2025, versus $9.4 billion last year.

3. International Business Machines: Down 3.8%

International Business Machines (IBM 0.06%) stock dropped sharply on July 24 after releasing Q2 numbers and continued to fall through August, losing 3.8% in the month. Ironically, IBM’s revenue rose 8% year over year, and management now expects 2025 free cash flow to exceed its guidance of $13.5 billion, driven by growth in software.

Software alone made up 43% of IBM’s revenue in Q2. Last year, IBM generated $12.7 billion in FCF.

IBM shares fell because its software revenue growth missed analysts’ estimates. Investors know better, though, as the tech stock has recovered 5.5% this month, as of this writing.

Let’s be honest, certificates of deposit (CDs) don’t exactly scream excitement. But they’re way better than earning 0.01% on your savings while inflation eats away at your money.

Right now, top CDs are paying over 4.00% APY — and with the Fed likely to cut interest rates a couple times before year end, that kind of guaranteed return is worth paying attention to.

Inflation costs more than you think

Let’s say you’ve got $10,000 sitting in a checking account earning basically nothing. If inflation is running at 2.7%, then you’re losing about $270 in purchasing power this year.

You don’t see it leave your account. But slowly, silently, your money buys less and less.

That’s why keeping cash in low-interest accounts is riskier than it seems. You’re not just missing out on returns — you’re falling behind.

The upside of CDs: Fixed returns

CDs are like the tortoise in the old fable — slow, steady, and totally underestimated.

But their superpower is certainty. You lock in a fixed interest rate, and you know exactly how much you’ll earn and when. And that predictability matters, especially in today’s economy.

Right now, top-paying CDs offer over 4.00% APY, and some lock-in periods are as short as three months. You won’t get rich overnight. But the right CD can help you keep pace with inflation — and even come out ahead.

For example, a $10,000 deposit into a 12-month CD earning 4.00% APY will grow to $10,400 in a year. Even if inflation stays around 2.7%, you’re still netting a positive return — something most checking and savings accounts can’t offer right now.

When a CD beats a high-yield savings account

High-yield savings accounts (HYSAs) are great for flexibility. You can add or withdraw money whenever you want, and the best online banks still offer APYs in the 4.00% range.

But the trade-off is that HYSA rates can drop at any time.

CDs, on the other hand, lock in your rate for a set term. So even if interest rates fall, you’ll keep earning that guaranteed return until your CD matures.

So how do you choose between the two?

• An HYSA is best if you need access to your cash anytime, like for emergency funds or upcoming expenses
• CDs are best for money you know you won’t need for a few months or longer. You can lock in today’s great APYs and continue earning no matter what happens to interest rates.

Sometimes a hybrid strategy works best. Splitting your savings between both an HYSA and CDs can give you the best of both worlds. You’ll stay flexible and earn more.

Don’t wait for rates to drop

According to the CME FedWatch Tool, interest rate traders are pricing in a 100% probability that the Federal Reserve will cut rates at its next meeting.

If that happens, banks will almost certainly start lowering APYs on savings accounts and CDs shortly after (some have already started pulling back in anticipation of a rate cut).

That means the clock is ticking.

If you’re thinking about opening a CD, doing it now could help you lock in a high rate before the market shifts. Even a short-term CD opened today could earn hundreds more than the same account opened just a few weeks from now.

Compare all the top CD rates and lock in a 4.00%+ APY while they last.

Published on
12/09/2025 – 11:22 GMT+2

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The European Commission on Friday accepted the concessions proposed by Microsoft concerning its Teams platform Teams to resolve an antitrust case it has been entangled in since July 2023.

To allay charges of abuse of dominance, Microsoft has proposed to offer customers its Office 365 and Microsoft 365 applications without Teams at a lower price than the suites including Teams and committed not to offering discount rates on Teams higher than those offered on suites without Teams.

It also offered interoperability to competitors with certain Microsoft products and proposed to allow customers to extract their Teams messaging data for use in competing solutions.

The case was opened in July 2023 following complaints from competing office platform Slack and in 2024 from Alfaview, accusing Microsoft of abusing its dominant position by bundling Teams with its Office and Microsoft 365 suites.

In June 2024, the Commission made a preliminary finding that the US tech giant was abusing its dominant position in the professional software market.

A year later, the Commission launched a market test on commitments offered by Microsoft which lead Slack and Alfaview to withdraw their complaints.

“Organisations big and small across Europe and around the world rely heavily on videoconferencing, chat and collaboration tools, especially since the coronavirus pandemic,” EU competition commissioner Teresa Ribera said in a statement, adding that the decision “opens up competition in this crucial market, and ensures that businesses can freely choose the communication and collaboration product that best suits their needs.”

The Commission’s decision makes Microsoft’s commitments binding for seven years and for 10 years regarding interoperability and data portability.

“We turn now to implementing these new obligations promptly and fully,” Nanna-Louise Linde, Vice President of Microsoft’s European Government Affairs, said in a statement.

If the company fails to meet its commitments, the Commission could impose a fine of up to 10% of its global annual revenue.

Artificial intelligence (AI) investing is what’s keeping the market propped up right now. A significant amount of money is being spent on building AI computing infrastructure, and numerous businesses are benefiting from this spending trend.

By picking up shares of companies that are benefiting from the spending now, investors can ensure they’re not buying into hype.

I’ve got five stocks that meet this criteria, and each looks like a great investment now.

Image source: Getty Images.

Chip companies are making a ton of money from the AI buildout

Since the beginning of the AI arms race, a handful of companies have been assumed winners based on their products. The market turned out to be right about this, as Nvidia (NVDA), Broadcom (AVGO -2.69%), and Taiwan Semiconductor (TSM -0.68%) have all delivered spectacular returns. However, they’re not finished yet.

Nvidia’s graphics processing units (GPUs) have powered nearly all of the AI workloads that investors know today. Demand for GPUs outpaces supply, so many of Nvidia’s largest clients are working closely with the company to inform it of their future demand years in advance. So, when Nvidia’s management speaks about industry growth, investors should listen.

Nvidia expects global data center capital expenditures to reach $3 trillion to $4 trillion by 2030. That’s monstrous growth from today’s amount (Nvidia estimates the big four hyperscalers will spend around $600 billion in 2025), and shows that the AI computing infrastructure buildout is far from over.

This clearly makes Nvidia a buy, but it also bodes well for Broadcom and Taiwan Semiconductor.

Broadcom manufactures connectivity switches for these computing data centers, enabling users to stitch together information being computed across multiple computing units. However, another area where Broadcom is experiencing significant growth is its custom AI accelerators, which it designs in collaboration with end users. This is a direct challenge to Nvidia’s GPU superiority, although both products will continue to be used in the future. With many companies looking to cut Nvidia out to reduce the costs of building a data center, Broadcom is one to watch over the next few years.

Lastly, neither company can produce the actual chip that goes into these products. So, they outsource the work to the world’s leading chip foundry, Taiwan Semiconductor. TSMC doesn’t care which company has the most computing units in data centers around the globe; it just cares that the chips they use are sourced from its factories, making it a neutral player in the AI arms race. While Taiwan Semiconductor may not have the upside of Nvidia or Broadcom, it also doesn’t have the downside. This makes it a safe bet to capitalize on all the AI spending, and it’s one of my top picks for stocks to buy now.

Demand for cloud computing is rising

Two of the largest purchasers of computing equipment are Amazon (AMZN -0.11%) and Alphabet (GOOG 0.56%) (GOOGL 0.57%). While some of this is being used for internal workloads, most of it is being rented back to customers through cloud computing. At its core, cloud computing involves renting excess computing power from one provider and utilizing it themselves. Buying computing equipment from Broadcom or Nvidia isn’t cheap, so this is often the most cost-effective way to access vast computing resources.

Additionally, traditional on-premises computing workloads are migrating to the cloud as existing equipment reaches the end of its life, providing cloud computing providers, such as Alphabet and Amazon, with growth tailwinds to capitalize on. Grand View Research estimates that the global cloud computing market opportunity was about $750 billion in 2024. However, that figure is expected to rise to $2.39 trillion by 2030, making this an excellent industry to invest in.

Alphabet and Amazon are two of the largest cloud computing providers, and I believe each stock is worth owning due to the massive potential in the cloud computing businesses of these two tech giants.

Published on
12/09/2025 – 9:49 GMT+2

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Shares in Warner Bros Discovery surged nearly 30% in New York on Thursday after the Wall Street Journal reported that Paramount Skydance was preparing to buy its rival.

Paramount Skydance’s stock also rose around 16% in daily trading.

The majority cash bid is reportedly for the entire company, including its movie studio and cable networks like HBO and CNN. Warner said late last year that it planned to split into two operating divisions: one focused on cable TV and the other on streaming and studios.

Paramount’s offer is allegedly backed by Oracle’s Larry Ellison, who briefly became the world’s richest person this week, overtaking tech tycoon Elon Musk. The billionaire’s son, David Ellison, runs Paramount Skydance.

The WSJ noted that a bid hasn’t yet been submitted and that plans could still fall apart.

Paramount Skydance’s market value was $19 billion (€16bn) as of Thursday’s close, while that of Warner Bros Discovery was roughly $40bn (€34bn).

Paramount and Warner Bros did not immediately respond to requests for comment regarding reports of the acquisition.

If approved, a merger between the two firms would mark the biggest consolidation in Hollywood since Walt Disney bought the entertainment division of Fox Corp. in 2019.

Scale would allow the new company to compete with the likes of streaming giants Netflix and Disney as the industry is redefined by changes in traditional viewing habits.

Paramount Skydance merger

The report comes just weeks after the finalisation of a $8bn (€7bn) merger between movie giant Paramount and independent film studio Skydance Media.

This acquisition became particularly controversial after it was linked to a legal dispute over a CBS News interview.

In July, Paramount paid $16 million (€14mn) to settle a defamation case against US President Donald Trump. The Republican leader claimed that Paramount’s CBS News in November edited a “60 Minutes” news programme with then-vice president Kamala Harris in a way that was deliberately deceptive.

Paramount said in a statement that the settlement with Trump was “completely separate from, and unrelated to, the Skydance transaction and the FCC approval process”. 

Even so, critics of the settlement lambasted it as a veiled bribe to appease Trump and allow the merger to go ahead.

Despite the payout, Paramount’s settlement did not include a statement of apology or regret.

Skydance did, however, declare it would end Paramount’s diversity programmes and appoint an ombudsman to review complaints of bias. Paramount also cancelled the left-leaning Late Show with Stephen Colbert ahead of the merger approval.

Critics viewed the moves as further attempts to win over President Trump, although Paramount denied that the Colbert show was cancelled for political motives.

On news that an entertainment sector giant might be making an attempt to buy a large peer, investors took an interest in several industry stocks on Thursday. One of these was Lionsgate Studios (LION 15.43%), whose share price surged by almost 16%, surely on hopes that it too might be approached by suitors. The stock’s advance was much more impressive than the S&P 500 index’s 0.9% increase.

Hollywood heat

The talk of Hollywood that day was the apparent bid being crafted by Paramount Skydance in a try at acquiring the aforementioned peer, Warner Bros Discovery.

Image source: Getty Images.

In a story that was broken by The Wall Street Journal, apparently the former company is assembling an offer to purchase the entirety of the latter in a mostly cash deal. That would be quite a swallow in both financial terms, as Warner‘s market cap is currently just north of $40 billion, and operationally. After all, Warner is a long-standing pillar of the entertainment business that holds numerous assets in different types of media (film, TV, streaming video, etc.).

On that news, which was widely disseminated in both the entertainment press and general-interest media outlets, Warner’s stock zoomed nearly 29% higher on Thursday.

Entertainment assets arms race?

Why couldn’t the smaller, more focused Lionsgate attract similar attention from potential buyers? It’s easy to imagine many investors thinking in this direction, as big-ticket acquisitions can have the knock-on effect of inspiring other deals. Lionsgate is not only smaller, but it would surely be cheaper to purchase, as its market cap currently stands at a shade over $2.2 billion.

Internet discussion forum operator Reddit (RDDT 0.55%) was the talk of numerous investors on Thursday, and for the most part, the chatter was positive. The company’s share price rose by nearly 1% — good enough to notch an all-time high — thanks in no small part to a bullish move from a researcher on Wednesday afternoon. That increase more or less matched that of the bellwether S&P 500 index that day.

Untapped potential

That Reddit-tracking company was Jefferies, whose analysts reiterated their buy recommendation on the stock while slightly increasing their price target to $320 per share (formerly it was $300).

Image source: Getty Images.

Reddit is lumped in with the social media stocks grouping, but within this small cabal, it’s unique. It doesn’t focus on updating acquaintances like Meta Platforms‘ Facebook or photo-sharing like the same company’s Instagram. Instead, it offers users the chance to discuss, debate, and explain any topic they’re curious about.

According to reports, the Jefferies team is particularly encouraged by what they consider to be Reddit’s potential to boost revenue significantly. In their modeling, they believe that the specialized tech company could post full-year 2027 revenue topping the current consensus analyst estimate by a rich 35%.

The analysts also pointed out that the company’s U.S. average revenue per user (ARPU; a crucial metric in the social media industry) is well below that of certain peers, offering significant upside potential.

Second-quarter surges

To an extent, Reddit is still basking in the glow of its impressive second quarter, the figures for which were published at the end of July. The company managed to boost its revenue by a robust 78% year-over-year (to $500 million), and flip to a net profit that was well in the black, at $89 million. Both headline figures, by the way, trounced the average analyst estimates.

Rent the Runway(RENT 29.56%) reported Q2 2025 results on July 11, 2025, with revenue rose 2.5% year-over-year to $80.9 million and ending active subscribers up 13.4% year-over-year. A transformative recapitalization will reduce debt from over $340 million to approximately $120 million, as announced on Aug. 21, 2025, strong acceleration in inventory investment, and substantial gains in customer engagement metrics. Below, key insights unpack the earnings call’s implications for long-term investors.

Rent the Runway slashes debt in recapitalization

The balance sheet overhaul, announced Aug. 21, 2025, involves Aranda Principal Strategies, Story 3 Capital Partners, and Nexus Capital Management as stakeholders, combining debt conversion to equity, new capital injection, and extension of maturity to 2029. This move follows years of capital structure constraints that limited strategic flexibility post-COVID.

“Our long-time existing lender, Aranda Principal Strategies, or APS, is partnering with two highly respected private equity firms with deep experience in the consumer retail space: Story 3 Capital Partners and Nexus Capital Management on a plan that will reduce our total debt from over $340 million to approximately $120 million. APS will convert a substantial portion of its original debt into common equity ownership, and APS, Story 3, and Nexus will contribute new capital to further support the business and its growth initiatives. The maturity on the debt will also be extended to 2029, giving us years of additional runway.”
— Jennifer Y. Hyman, CEO

The recapitalization plan marks a significant step forward and positions the company for greater financial flexibility and a stronger balance sheet.

Active subscriber growth accelerates as inventory doubles

Ending active subscribers jumped to 146,373, up from negative growth (-4.9% year-over-year in Q4 2024), and coincided with a near doubling of inventory units and a 235%-323% year-over-year increase in monthly posted styles for May, June, and July. Related engagement metrics, including share of views (up 84% year-over-year) and Net Promoter Score (up 77% versus the prior year), reached three-year highs amid ongoing investments in assortment breadth and exclusives.

“Subscriber growth continued. We ended Q2 with 146,400 active subscribers, a 13.4% year-over-year increase, accelerating from negative 4.9% in Q4 2024 and 0.9% in Q1 2025. Q2 2025 year-over-year acquisition growth accelerated, as compared to Q1 2025 and Q4 2024. Retention continued to be higher than the prior year. These results show that we’re adding more subscribers in a significant way and subscribers are more likely to stay with the service for longer periods of time.”
— Jennifer Y. Hyman, CEO

Subscriber and engagement momentum highlight the leverage and resonance of the revamped inventory strategy, though Increased fulfillment and revenue share costs pressured margins.

Gross margin and free cash flow deteriorate as inventory investment surges

Gross margin fell to 30%, down from 41.1% a year earlier as revenue share and fulfillment costs rose, while free cash flow was negative $20.5 million, compared to negative $4.5 million a year ago, reflecting heavier upfront investment in rental products. Adjusted EBITDA margin dropped to 4.4%, down from 17.4% a year earlier.

” Adjusted EBITDA for Q2 ’25 was $3.6 million or 4.4% of revenue versus $13.7 million or 17.4% of revenue in Q2 2024. The decrease in adjusted EBITDA versus the prior year is primarily a result of higher revenue share expenses. Free cash flow for Q2 ’25 was negative $20.5 million versus negative $4.5 million in Q2 2024. Free cash flow decreased versus the prior year primarily due to lower adjusted EBITDA and higher purchases of rental products on account of our inventory strategy for fiscal year 2025.”
— Siddharth B. Thacker, CFO

Heavier investment in inventory and platform upgrades signals management’s commitment to long-term scale but underscores the importance of successfully converting subscriber growth to operating leverage and cash flow improvement.

Looking Ahead

Management expects revenue of $82 million to $84 million for the next quarter and continues to project double-digit growth in ending active subscribers for the full year. Full-year free cash flow guidance is revised lower to below negative $40 million due to recapitalization costs. No additional quantitative outlook or strategic milestones beyond 2025 were provided in the call.

enGene (ENGN -3.50%), a clinical-stage gene therapy company advancing treatments for bladder cancer, released its fiscal 2025 third-quarter earnings on Sept. 11, 2025. The period was highlighted by key clinical and regulatory milestones, including reaching the target enrollment for its pivotal LEGEND trial cohort, and receiving Regenerative Medicine Advanced Therapy (RMAT) status from the Food and Drug Administration (FDA) for its lead therapy, detalimogene (EG-70).

Net losses more than doubled year over year, while operating expenses increased by approximately 78%, but the company reported a strong cash position expected to last into 2027. The absence of new clinical efficacy data and lack of explicit commercial guidance leave some open questions, but overall, the quarter brought notable progress at the clinical and regulatory levels.

Source: enGene. Note: Fiscal 2025’s third quarter ended July 31, 2025. Fiscal 2024’s Q3 ended July 31, 2024.

About enGene: Fast-Moving Clinical Gene Therapy Business

enGene focuses on the research and development of gene therapies for urologic cancers, with a principal emphasis on non-muscle invasive bladder cancer (NMIBC). Its lead investigational therapy, detalimogene (EG-70), is a non-viral gene therapy intended to trigger a localized anti-tumor immune response in patients whose cancer has not responded to standard Bacillus Calmette-Guérin (BCG) treatment. As a relatively young company, having been founded in 2023, enGene has yet to generate product revenues and remains firmly in the clinical development phase.

The company’s strategy rests on successfully developing and eventually gaining approval for EG-70 for high-risk, BCG-unresponsive NMIBC. This focus reflects a critical unmet need in bladder cancer, particularly for patients with carcinoma in-situ who have limited treatment options. Key to success will be the therapy’s final clinical data, successful navigation of regulatory review, the ability to differentiate the product from other therapies, and readiness to scale and commercialize once approvals are achieved.

Quarter in Review: Trial Milestones, Regulatory Wins, and Costs on the Rise

During the quarter, enGene reached several critical development milestones for its lead product candidate. Most notably, it achieved full target enrollment for the pivotal cohort of its LEGEND study, specifically enrolling 100 patients with high-risk NMIBC carcinoma in-situ whose disease did not respond to BCG. Management confirmed that this sets up for a pivotal data update in the fourth quarter of 2025 and a planned Biologic License Application (BLA) filing in the second half of 2026. These steps align tightly with previous goals and management commentary.

The quarter also brought a significant regulatory achievement as detalimogene received Regenerative Medicine Advanced Therapy (RMAT) status from the Food and Drug Administration. RMAT designation confers regulatory advantages such as earlier and more frequent agency interactions, as well as the possibility of rolling submission and priority review. This follows an earlier Fast Track designation, together expediting the therapy’s path toward potential approval. While the company achieved these procedural milestones, the quarter did not include new disclosures related to efficacy or safety results from its trial. Management reiterated that updated clinical data should be available in late 2025.

On the financial front, Total operating expenses climbed sharply to $29.9 million, an increase of approximately 78% compared to the same period last year. The main drivers were an $11.0 million increase in research and development spending, driven by higher manufacturing and clinical trial costs as well as personnel expansion. General and administrative costs rose by $2.2 million, linked to workforce expansion and greater reliance on professional services in preparation for commercialization. Net loss also widened substantially, reflecting the increased investment required to advance the clinical and regulatory agenda for the three months ended July 31, 2025.

Supporting its organizational build, enGene made several senior-level hires in regulatory and clinical leadership roles. These hires underscore its preparations to transition from a pure research organization into one that can support regulatory filings and future commercial activity. However, detailed plans for manufacturing scalability and go-to-market structures have not been disclosed.

Product Platform and Strategic Focus

Detalimogene (EG-70) is a non-viral gene therapy, administered directly into the bladder to stimulate the immune system to fight cancer cells. The technology uses enGene’s Dually Derivatized Oligochitosan (DDX) platform, which aims to provide localized gene delivery without the use of viruses, potentially avoiding some risks and complexities associated with viral-based therapies. enGene highlights this approach as well-suited to minimizing storage and delivery barriers.

The company continues to focus resources on bringing detalimogene from late-stage clinical development through regulatory review. While enGene points to the high unmet medical need, it has not yet disclosed how its candidate compares against other agents on efficacy, safety, or overall patient outcomes, leaving market positioning an open question.

Looking Ahead: Upcoming Data and Financial Perspective

Management’s outlook centers on future milestones. enGene expects to report updated pivotal cohort data from its LEGEND trial in the fourth quarter of 2025, followed by a BLA regulatory submission in the second half of 2026. No formal guidance was provided about future operating expenses, revenue expectations, or other financial performance metrics.

The company noted that its $224.9 million in cash and marketable securities will fund operations, debt obligations, and capital expenditures into 2027. ENGN does not currently pay a dividend.

Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted.

A good investment will double for you in the next five years. What about a great investment? Rounding up a couple of names that can turn $1,000 into $5,000 in five years isn’t easy. You have to take some risks. A spunky survivor of the home-flipping space? An out-of-favor mass market retailer that has missed the mark? The leader of a travel niche that has yet to materially catch on with the mainstream?

Opendoor Technologies (OPEN 69.71%), Target (TGT 0.84%), and Royal Caribbean (RCL 3.11%) are three stocks that I think can become five-baggers between now and 2030. You might be curious, so I won’t waste your time. Let’s dive right in.

1. Opendoor Technologies

Putting one of this year’s hottest stocks on this list seems like a recipe for disaster. Opendoor is also a meme stock, a nascent niche that has produced speculative jumps in the near term only to fall back to earth when the viral boards get bored. However, the catalysts for Opendoor to keep climbing are pretty clear right now. Come on in to the Opendoor open house.

Opendoor is a pioneer in the iBuying market. It buys residential properties that its tools suggest are underpriced. It then touches them up a bit, puts them up for sale, and ideally makes enough on the sale to cover the purchase, reno work, and holding costs. It’s not a bad place to be when home prices are moving and demand is strong. Unfortunately, that hasn’t been the case lately.

Image source: Getty Images.

Shares of Opendoor turned $1,000 into $5,000 in a single year already. This happened in 2023, when investor enthusiasm for a residential real estate recovery was percolating. Things didn’t pan out, and the stock would go on to shed nearly two-thirds of its value last year. It’s off to a hot start in 2025, but that is mostly because it’s part of the latest wave of meme stocks being talked up in speculative online circles.

What if this isn’t just a flash in the pan? All indications suggest that the Federal Reserve will start lowering rates this month, with at least two more smaller cuts to come before the end of this year. Opendoor is a high-beta stock built for this kind of shift in fundamentals. The two things holding back the business right now are homeowners who are reluctant to put their properties locked into low mortgage rates on the market and potential homebuyers looking for lower rates to feel comfortable making a long-term, big-ticket purchase.

The past isn’t pretty, with trailing revenue since 2022 down about as much as Opendoor stock was last year. The valuation also isn’t pretty, but things will change with this scalable model if business starts surging again the way it did a couple of years ago. In the meantime, Opendoor can be confident that the two leading online portals for residential real estate — that entered the niche before pulling up a bloodied white flag — aren’t going to dive in even if the climate seems inviting. They tried. They failed. They’re not going to put their shareholders through that. In other words, Opendoor will be the lone publicly traded business tackling a real estate niche that is about to become viable again.

2. Target

Some kings lose their crowns, and that seems to be case for Target. It was cheap chic retail royalty for a long time. Then it messed things up. It had an unfortunate hack into client accounts. It made some controversial moves that somehow angered both side of the political community. Today’s Target is losing market share, but it still has a crown.

When Target boosted its quarterly payouts to shareholders this summer — extending the streak of annual hikes to 54 years — it was able to retain its Dividend King status. The payout remains safe, at least in the near term. Despite posting negative net sales growth for third consecutive fiscal year, the chain’s guidance calls for a profit between $7 and $9 a share this year. Its forward payout ratio is 51% to 65% that profit outlook.

It’s true that comps remain problematically negative, and after years of being the cool discounter it’s now yielding market share. However, with a turnaround plan in place and a juicy 5% yield to reward patient investors, why can’t Target be a five-bagger come 2030? It trades at a low earnings multiple on depressed earnings, currently 10 to 13 times its guidance for this fiscal year’s earnings. When things start clicking again it’s easy to see strong comps and margin expansion turning this market laggard into a leader.

3. Royal Caribbean

If you channel surf through streaming services, you’re going to run across some documentaries about things that didn’t go well on cruise ships. This is unfortunate timing for an industry that has battled back from the longest COVID-19 shutdown among travel segments. The growth story is kinder than the sometimes horrific mishaps at sea.

Royal Caribbean isn’t the largest cruise line by revenue, passengers, or fleet, but it’s the most valuable. Royal Caribbean has earned the market’s attention with a business that has historically grown faster with strong margins and customer loyalty than its rivals. It was the best investment in this space before the pandemic stoppage. It’s only natural for it to be leading the way as the first player to become profitable and reinitiate dividends.

Strong results and record future bookings find Royal Caribbean perpetually raising its guidance. The midpoint of its guidance at the beginning of this year was for a profit of $14.50 a share. Now that midpoint is at $15.48. Royal Caribbean is trading at a reasonable 22 times this year’s earnings midpoint. That’s a bargain, and this is knowing that Royal Caribbean has a long streak of “beat and raise” reports that should continue to nudge the next quarterly report higher and higher.

If you don’t know much about Intuitive Surgical (ISRG 1.71%), you might want to remedy that. It’s a very impressive growth stock. Its past performance is likely to wow you, and its future looks very promising.

Over the past decade, Intuitive Surgical stock has grown in value at an average annual rate of 23%. Over the past three years, that growth rate ramped up to nearly 30%! If you had invested $10,000 in Intuitive a decade ago, your stake would be worth roughly $80,610 today. The S&P 500 index, in contrast, averaged 13.6% in that period, turning $10,000 into $33,720 — a still-quite-solid performance.

Image source: Gertty Images.

Intuitive Surgical is a leader in robotic surgery equipment. It has more than 9,900 of its million-dollar-plus da Vinci robotic surgery systems installed in 72 countries. Together, the systems have been used to perform more than 16 million procedures.

Its business model is delightful, too, as it derives 84% of its revenue not from the costly systems themselves but from rather dependable recurring sales of servicing, supplies, and accessories for the machines. Once a hospital has committed to a da Vinci machine, it can’t go elsewhere for servicing and supplies.

And as our world’s population ages, there’s likely to be more demand for the kinds of procedures that Intuitive Surgical’s machines facilitate, such as colorectal surgery, cardiac surgery, hernia surgery, and more. Intuitive’s Ion systems also facilitate lung procedures.

According to some metrics, Intuitive’s stock is not a bargain right now; for example, its forward-looking price-to-earnings (P/E) ratio was recently 51, which is on the steep side. But that’s still well below the stock’s five-year average of 56. That’s because the stock has pulled back recently, presenting a tempting buying opportunity for interested long-term investors.

Altria (MO 0.45%) is one of the world’s largest tobacco companies, with well-known brands under its umbrella that include Marlboro, Black & Mild, Parliament, Copenhagen, and Skoal. Although some investors may have reservations about investing in a tobacco company, those who do invest in the company typically do so for one reason: Its ultra-high-yield (and growing) dividend.

If you’re interested in investing in Altria, you might want to do so before Sept. 15, because that is its ex-dividend date. When it comes to stocks, a company’s ex-dividend date is the day by which an investor must own shares of the company to be eligible to receive its next dividend payout. In Altria’s case, owning the stock before Sept. 15 will ensure you receive the dividend payout scheduled for Oct. 10.

Image source: Getty Images.

One of the stock market’s top dividend stocks

When Altria recently announced that it was increasing its quarterly dividend to $1.06 per share (up from $1.02), it marked the company’s 56th consecutive year increasing its dividend, and the 60th total increase in that span. That track record of growth helped Altria earn the designation as a Dividend King.

At the time of writing, Altria’s dividend yield is around 6.16%, which is slightly below its average over the past decade, but more than five times the S&P 500’s current average of 1.2%.

Data by YCharts.

While Altria’s appeal has long been its dividend, the stock has had an impressive 2025 so far, up 26%. I wouldn’t invest in the stock expecting these returns year in and year out, but if you’re looking for a company that can provide reliable dividend income, Altria is a good choice.

It’s two weeks until Micron (MU 10.66%) stock reports its earnings for fiscal Q4 2025, but Citigroup isn’t waiting around for the numbers to upgrade this stock. This morning, Citi analyst Christopher Danely raised his price target on the memory maker to $175 a share, and reiterated his “buy” rating.

Micron stock jumped 8.9% through 11:20 a.m. ET in response.

Image source: Getty Images.

What Citi says about Micron stock

Most analysts predict Micron will report $2.85 per share when its news comes out Sept. 23, and Citi’s Danely agrees the company will be “in line” with that estimate. What has Danely feeling really optimistic about Micron, though, is the potential for management to give strong guidance on top of its Q4 earnings.

DRAM and NAND sales and prices could both be very good heading into fiscal 2026, argues the analyst, as “the continued memory upturn is being driven by limited production and better-than-expected demand, particularly from the data center end market.” (Translation: Demand for artificial intelligence capacity is driving Micron’s business.)

Danely predicts that by 2029, fully 34% of all NAND memory chips will be used for AI applications, adding $29 billion worth of NAND sales globally.

Is Micron stock a buy?

Danely may be right. Most analysts following Micron stock predict the company could earn $10 a share in 2029. What worries me, though, is that even if they’re right, it means Micron stock already costs more than 15x earnings that it might (or might not) earn four years from now.

Investors are giving Micron credit for earnings it hasn’t actually earned yet. Meanwhile, Micron’s free cash flow is less than one-third of reported income, and the stock costs 82x FCF already today. That’s more than I want to pay, and Micron remains a sell for me.

Vince(VNCE 94.33%) reported second quarter fiscal 2025 earnings on August 6, 2025. Net sales reached $73.2 million, down 1.3% year-over-year (YoY), while adjusted net income excluding a one-time employee retention credit was $4.9 million ($0.38 per share), supported by a 300 basis point year-over-year gross margin improvement and strong direct-to-consumer (DTC) sales growth of 5.5%. This summary provides singular insights on margin expansion, supply chain risk management, and multi-channel execution, all critical to the long-term investment thesis. For reference, the second quarter fiscal 2025 period ended July 31, 2025.

Gross margin expands as Vince mitigates tariffs

Gross profit increased from $35.1 million to $36.9 million compared to the second quarter fiscal 2024, with gross margin expanding 300 basis points to 50.4% compared to the second quarter fiscal 2024, despite higher tariffs and freight costs. This margin strength resulted from a combination of strategic pricing, reduced discounting, and improved product cost management, against a backdrop of a less favorable macro environment for apparel manufacturers.

“Gross profit in the second quarter was $36.9 million or 50.4% of net sales. This compares to $35.1 million or 47.4% of net sales in the second quarter of last year. The increase in gross margin rate was primarily driven by approximately 340 basis points due to the favorable impact of lower product costing and higher pricing, approximately 210 basis points due to favorable impact of lower discounting, partially offset by approximately 170 basis points due to higher tariffs and 100 basis points due to higher freight costs.”
— Yuji Okumura, Chief Financial Officer

Effective margin management demonstrates that Vince’s value proposition and pricing power help offset inflationary and regulatory headwinds.

Vince rapidly diversifies supply chain to curb concentrated risk

In fiscal 2024, the company sourced approximately 80% of its products from China, with aggressive initiatives under way to cap exposure to any single country at 25% by the 2025 holiday season. Such rapid supply chain adaptation is notable given persistent apparel industry vulnerabilities to shifting tariffs and global sourcing disruptions.

“So the product that’s hitting the floor now fall, that really wasn’t impacted. I mean, that was already produced. That was kind of the stuff that was being held. It’s really as we get the prespring or holiday, where we made a lot of the movement. And as we mentioned before, it’s somewhat less about China now because these tariffs keep moving around. It’s really more about not being overexposed in any one country. And, you know, we’re targeting 25% to kinda be that cap in terms of any one country, and I think we’ll get there, for holiday and certainly as we get into spring.”
— Brendan Hoffman, Chief Executive Officer

Vince is shifting to a multi-country sourcing strategy to limit exposure to any single country, targeting a 25% cap per country.

DTC sales growth offsets wholesale softness for Vince

The DTC segment posted 5.5% year-over-year growth, propelled by both retail and ecommerce, even as the wholesale channel declined 5.1% year-over-year due to temporary shipment delays. Store investments, including remodels and new locations in Nashville and Sacramento, target underpenetrated regions and support omnichannel growth strategy.

“With respect to channel performance, our direct to consumer segment increased 5.5% with both our ecommerce and store channels contributing to the growth. This was offset, however, by a 5.1% decline in our wholesale segment as full shipments went out later than the prior year as tariff mitigation strategies pushed the timing of receipts back by approximately three weeks. Despite the impact on the top line, the delays in our supply chain enabled us to elongate our spring selling season, contributing to strong gross margin performance for the quarter.”
— Yuji Okumura, Chief Financial Officer

Looking Ahead

Management guides to net sales flat to low single digit year-over-year growth for the third quarter fiscal 2025, operating income margin between 1% and 4%, and adjusted EBITDA margin (non-GAAP) between 2% and 5%. Planned reinvestments in marketing and retail initiatives, along with anticipated incremental tariff costs of approximately $4 million to $5 million (with half expected to be mitigated), temper the margin outlook for the back half of fiscal 2025. No additional new store openings are scheduled beyond Sacramento in October 2025.

In 2025, the maximum monthly Social Security benefit is $5,108 per month. It’s not 100% clear exactly how large the maximum monthly benefit will be in 2026, but based on current estimates of benefit increases, it could be somewhere around $5,245.97.

That’s a huge benefit amount to collect each month. So, how can you earn the maximum benefit in 2026? Here’s what you would need to do.

Image source: Getty Images.

A big income is needed to max out your 2026 benefit

If you want to work toward earning the maximum Social Security benefit in 2026, the first thing that you need to do is to earn a pretty large salary.

Social Security benefits are based on average wages in the 35 years you earn the most. There is a cap on the amount of wages that count in this benefits formula, though. Specifically, income up to the “wage base limit” is subject to Social Security tax and is counted in the benefits formula, and income above that threshold is not.

If you want the maximum benefit, you need a 35-year career history of earning an income equal to or above the wage base limit. In 2025, that limit was $176,100. It’s likely to increase to $183,600 in 2026 as the amount goes up most years due to the effects of inflation.

You’ll need to make sure your salary is equal to or above these numbers to be on track to get the maximum benefit.

You’ll need to put off your Social Security claim

There’s also another thing you’ll have to do if you want the maximum possible Social Security benefit to supplement the savings in your retirement plans. Specifically, you are going to need to make plans to wait until you are 70 to claim your Social Security benefits.

Waiting until 70 means waiting until after your full retirement age, and means waiting a full eight years to claim benefits after first becoming eligible for them at 62. You have to wait this long because earning the wage base limit or higher for 35 years only puts you on track for the highest possible standard Social Security benefit.

You’ll have to raise that standard benefit as much as possible by maxing out your delayed retirement credits if you want the overall maximum benefit. These delayed retirement credits increase your standard Social Security checks until age 70, when you can’t earn any more credits.

If you follow these two steps, then you will be on track for the maximum monthly Social Security benefit in 2026. You’ll have a good amount of extra money coming from Social Security to add to the distributions from your 401(k) and build the secure retirement you deserve.

Unfortunately, many people don’t do either of these things, much less both of them. Earning the maximum benefit is really hard, as you have to be among the country’s top earners for a long time and not need your retirement benefits until pretty late in life.

If you can’t do this, you’ll need to be realistic about what Social Security benefits you’ll get when you do your retirement planning. The reality is that Social Security replaces only around 40% of pre-retirement income, and the rest needs to come from accounts like your 401(k) and IRA. So, while you can work toward maxing out your benefit, also be sure you are saving plenty of money in case you fall short.

Right now, we’re in a rare window where both high-yield savings accounts (HYSAs) and certificates of deposit (CDs) are offering APYs over 4.00%. That’s nearly 400x what most big bank savings accounts still pay (seriously — some are stuck at 0.01%).

But things are changing. The Federal Reserve is expected to cut rates very soon, and when that happens, we’ll be saying bye bye to today’s high rates.

As someone who tracks APYs for a living, I can tell you: now is the time to make a move.

What to know about high-yield savings accounts

A high-yield savings account (HYSA) works just like a regular savings account. But it pays significantly more interest.

Some top online banks are paying right around 4.00% APY, and you can access your money at any time.

Full disclosure: I’m an HYSA fan myself. Here’s why others love them too:

• Liquid and flexible: You can move money in and out without penalty, any time.
• They’re safe: Banks are typically FDIC-insured up to $250,000, per person, per account ownership category.
• No or low fees: Junk fees are a pet peeve of mine. But many online banks don’t charge any, which is nice!

HYSAs are great for emergency funds, travel savings, and short-term goals. Basically any money you want to grow but still keep handy.

A great option to check out right now is the SoFi Checking and Savings (Member FDIC) account, which has a top-tier APY and no account fees. Read our full review here and see if it’s right for you.

What to know about CDs

A fixed rate can be a major win if and when the Fed starts cutting rates. You’ll continue earning today’s peak APY while new CDs drop lower.

Of course, the tradeoff is that your money is locked while earning that rate. And there are penalty fees for early withdrawals.

HYSA vs. CD: Which one should you pick?

It’s tempting to think there’s only one perfect fit for your money.

But the truth is, you can choose both! In fact, most people do well with a combo approach, assigning portions of their money to different goals.

• Use an HYSA for cash you might need to access soon. This would be like your emergency fund, travel savings, or big expenses in the near horizon.
• Use a CD for money you can set aside for a while. Things like your future tax bill, next summer’s wedding, or a big purchase you’re planning months ahead.

This way, you’re earning a solid return without sacrificing flexibility.

If you’re still unsure, start small. Just move a portion of your cash into each and see how it feels.

Most CDs have low minimums, and shorter terms available.

Need help choosing? Our experts compared dozens of options to find the best CDs available now. Check out our top picks here and lock in 4.00%+ rates while you still can.

A handful of companies — from Nvidia to Microsoft — have seen their market value soar from the billions of dollars in recent years into the trillions. In fact, Nvidia reached a major milestone this summer when it became the first company to surpass the level of $4 trillion. It’s important to note that nearly every player with a valuation of $1 trillion or more operates in the high-growth area of artificial intelligence (AI).

This technology has helped revenue roar higher at these companies, and considering the growth forecasts for the AI market, this trend should continue for quite some time. The stock I’m going to talk about here has already benefited in a big way from the AI boom, and according to the company’s forecasts, an enormous amount of growth lies ahead.

This player wowed the market this week with its predictions for growth, and the stock surged, adding $244 billion in market cap in just one trading session. My prediction is this AI leader won’t stop here; it will become the next to join the trillion-dollar club — and this could happen in the coming days. Let’s zoom in on this company that’s rocking the AI market.

Image source: Getty Images.

What’s the trillion-dollar club?

First, though, a quick note on the trillion-dollar club. It isn’t exactly an official club with a particular structure — instead, it’s a way investors and analysts often refer to companies that have reached the level of at least $1 trillion in market capitalization. As mentioned, most of these players, unsurprisingly, considering the strength of the AI boom, are in the technology industry.

The AI stock I’m talking about isn’t a young start-up that’s recently roared onto the scene. This player has been around for almost 50 years, progressively building out its expertise. It started out as a database management specialist, and today it offers cloud infrastructure and other related products and services, too — all of these elements, together, have created an AI powerhouse. The company? Oracle (ORCL 35.96%).

This tech player, in the latest quarter, saw cloud infrastructure revenue soar 55%, and remaining performance obligations — or contract value yet to be recognized — skyrocket 359% to $455 billion. On top of this, the company predicted cloud infrastructure revenue will increase 77% to $18 billion in this fiscal year, then will progress over the coming four years to the following levels: $32 billion, $73 billion, $114 billion, and $144 billion.

Several multibillion-dollar customers

Oracle expects to win several multibillion-dollar customers in the coming months to set it on the path toward those goals. Though Oracle faces competition from other cloud providers, the company sets itself apart thanks to its ability to leverage the strength of its database offering and AI — large language models can be put to work on customer-specific questions without compromising security or privacy. Oracle also offers great flexibility to customers, even the ability to leverage the Oracle database across any cloud.

Customers have rushed to Oracle for the training of AI workloads, and now the company sees potential for massive growth in AI inferencing. So, there are a lot of reasons to be optimistic about Oracle right now, especially considering that analysts expect today’s billion-dollar AI market to reach into the trillions by the next decade. This signals AI isn’t just a short-term trend, but may be a lasting revolution.

My prediction

Now let’s take a look at my prediction. Oracle closed at about $328 on Sept. 10 after gaining more than 35% in one trading session. At this level, an 8.5% increase to $356 would push it to a $1 trillion market value — my prediction is this sort of movement, in light of Oracle’s solid growth outlook, could easily happen in a matter of days.

What does this mean for you as an investor? Oracle’s climb toward $1 trillion — or even past that level — is positive as it shows the investment community believes in this growth story. It also may increase the weighting of the stock in market cap-weighted indexes like the S&P 500. As a result, funds tracking the benchmark would have to boost their holding of Oracle accordingly.

A gain in market cap, though, isn’t a reason on its own for buying a stock. So, you wouldn’t want to pile into Oracle just because it reaches a certain level. But Oracle is a buy today because of the reason behind this market value movement — and that’s growth. So, whether Oracle enters the trillion-dollar club in the coming days or not, it makes a fantastic stock to buy and hold as this AI boom marches on.

Apple (AAPL -3.17%) shares dipped slightly on Tuesday as the tech giant unveiled its latest iPhones. The company behind the world’s most popular premium smartphone now has fresh hardware headed to stores later this month. Investors will be watching early demand closely, but one detail from the event deserves special attention: pricing. Apple raised the starting price of the iPhone 17 Pro to $1,099 in the U.S., $100 above last year’s Pro entry point.

Apple’s iPhone business has already regained momentum. In the quarter ending Jun. 28, Apple posted record fiscal third-quarter revenue, with double-digit growth in iPhone and an all-time high in services. Management also highlighted growth across every geographic segment and said the installed base of active devices hit a new high. Those are the right conditions heading into a price-supported product cycle.

Image source: Getty Images.

Recent results point to a healthier iPhone backdrop

Apple‘s fiscal third quarter showed the core engine is running well again. Total revenue rose to $94.0 billion, up 10% year over year, while iPhone revenue climbed 13% to $44.6 billion from $39.3 billion a year ago. Services revenue reached $27.4 billion, also a record for the June quarter. All of this pushed earnings per share for the quarter up 12% year over year. This mix shows iPhone still doing the heavy lifting while services keeps compounding on a larger base.

Apple CEO Tim Cook captured the tone in the company’s fiscal third-quarter release in late July: “Today Apple is proud to report a June quarter revenue record with double-digit growth in iPhone, Mac and services and growth around the world, in every geographic segment.” That comment, paired with an all-time-high installed base noted by the CFO, underscores the company’s momentum as new models arrive later this month.

Apple stock’s valuation reflects high expectations. As of Tuesday’s close, the stock traded around the mid-30s on a trailing price-to-earnings basis and sported a market cap near $3.5 trillion. Premium valuation multiples require sustained growth, so whether the iPhone lineup can support another leg higher matters for returns from here.

A Pro price bump and a new Air could lift iPhone revenue

The most consequential change this fall may be simple: Apple lifted the iPhone 17 Pro’s starting price to $1,099 from $999 for last year’s 16 Pro. Even before any unit growth, that change can nudge average selling prices higher, especially if Pro models continue to draw enthusiasts who want the iPhone models with the best cameras and performance. Apple also doubled the entry storage on 17 Pro to 256GB, which supports the higher entry price while still benefiting revenue recognition.

Additionally, Apple introduced iPhone Air — the thinnest iPhone yet — with a polished titanium frame and new Ceramic Shield 2 front and back that Apple says is more scratch- and crack-resistant than prior models. Priced below the Pro line at $999, Air offers a sleeker and tougher design that should appeal to mainstream upgraders who have waited. Together with iPhone 17, this broadens the ladder for buyers and may support both units and richer configurations. Preorders begin Friday, with availability next week.

These product dynamics line up with the fundamentals Apple reported in late July: iPhone is growing again, services is setting records, and the installed base is larger than ever. A higher Pro entry price, a compelling non-Pro option in Air, and the usual mix of trade-in and carrier promotions could translate into higher iPhone revenue in fiscal 2026, potentially in the double digits, if Apple sustains healthy Pro demand and nudges more mainstream buyers to upgrade. The risks are clear, including price sensitivity at the high end, macro softness in key regions, and intense competition. But Apple’s scale, brand strength, and rapidly growing services business help cushion those pressures.

In short, Apple just made its most popular premium phones more valuable — and more expensive — while adding a new, tougher design at a slightly lower price point than Pro. If that combination drives strong Pro mix and steady upgrades, it can lift average selling prices and total iPhone revenue next year. With services already at record levels and the installed base expanding, that is a reasonable path for the stock to maintain a premium valuation over time, allowing the stock price to grow with earnings growth.