Objectivity and Impartiality: TradingKey's content is fact-based and thoroughly researched, never written to promote any particular economic or political viewpoint.
Accuracy: TradingKey makes every effort to ensure the content of the platform is accurate and clearly presented to readers. Information is regularly updated and verified for accuracy by our staff. Any errors or misrepresentations identified will be promptly investigated and corrected.","home_about_policy_content2":"The editorial team continually evaluates all site content, revising or updating outdated information.
Articles of poor quality or that are outdated will be rewritten as necessary to maintain high content standards.
TradingKey's team of financial experts will support the process throughout, assisting with the review of Insights articles for updating and proofreading.","home_about_policy_content3":"Each article represents a collaborative effort across multiple team members to ensure accuracy, readability and timeliness - reflecting TradingKey's content creation guidelines.
Our expert financial writers contribute insightful, in-depth content through their expertise, while professional editors, fact-checkers and compliance teams review the content through rigorous processes to uphold our values of professionalism, accuracy and objectivity.","home_about_policy_content4":"Authors and experts on the Tradingkey website are recruited through a rigorous vetting process. Some are experienced financial writers, while others are experts in the financial field. All of them possess deep financial knowledge coupled with the ability to explain complex topics clearly.
Author details, expert reviews and compliance checks are listed under each article. Readers can access bios covering each author's education, work experience, social media and relevant certifications. All TradingKey authors must adhere to the content guidelines outlined above.","home_about_policy_content5":"Advertisements and sponsored content are prominently labelled and visually distinguished from main content.","home_about_policy_content6":"We love to hear from our readers and are committed to supporting you in your investment journey. If you have any comments or suggestions to share, please feel free to contact us at contentcollab@tradingkey.com.","home_about_policy_part1":"Tradingkey Content Creation Guidelines","home_about_policy_part2":"Editorial Process","home_about_policy_part3":"Tradingkey Article Quality Standards","home_about_policy_part4":"Tradingkey's Author Selection Criteria","home_about_policy_part5":"Advertising Disclosure","home_about_policy_part6":"Do you have feedback?","home_about_policy_tip1":"TradingKey is committed to providing investors with rich, timely and valuable financial information to help them grasp market conditions and identify trading opportunities in a timely manner.","home_about_policy_tip2":"Our goal is to simplify complex financial knowledge and insights, and help users gain confidence in investing and trading.","home_about_policy_title":"Editorial Policy","home_about_title1":"TradingKey is a comprehensive financial education and news analysis website, providing real-time market data, financial news coverage across forex, commodities, cryptocurrencies and more, as well as professional trading courses.","home_about_title1_hide_forex":"TradingKey is a comprehensive financial education and news analysis website, providing real-time market data, financial news coverage across commodities, cryptocurrencies and more, as well as professional trading courses.","home_about_title2":"Our mission is to help users effectively apply financial knowledge, identify emerging market opportunities, and achieve success in financial markets.","home_ahout_expert_tag_review":"Reviewed by {name}","home_ahout_expert_tag_write":"Written by {name}","home_analysis_title":"Analysis","home_article_viewmore":"View more >","home_calender_title":"Economic Calendar","home_cookie_content1":"Cookies are pieces of data sent to your computer by a website you visit. Your computer stores Cookies in a file in your web browser similar to a log book keeping records of your activities when you visit the site. When you visit the same website, it allows them to identify you easily and provide improved browsing experiences. Cookies do not transfer viruses or malware to your computer, and they do not affect the way your computer works. We may obtain your information through cookies when you visit our website. Different types of cookies record different activities.","home_cookie_content2":"We use cookies to analyse how users use our website to track and improve the website functionality efficiency and reliability. This allows us to quickly identify and resolve any issues that may arise to provide a high-quality customer experience. For Example: We may use performance cookies to track which pages of our website are most popular and which links between pages are most effective. With this information, we can enhance your navigation within our website, ease traffic and minimise performance disruptions you may experience. Cookies can also track whether you have been referred to our site from another website which can improve our advertising campaigns you accordingly. Another use of cookies includes storing your current login session. When you log in to the member's area, a 'session cookie' is set to remember the login session so that when you navigate around the website as an active user, you will not be required to log in again until you leave the website or session expires. Our functionality cookies allow us to recognise you as a user, recall your login information, and personalised preferences and ensure that your information is secure. Whenever you visit our trading platform, your user name and language chosen are conveniently stored from the use of cookies that defaults to your previous preferences.","home_cookie_content3":"This website uses Google Analytics - a web analytics service provided by Google, Inc. (“Google”). Google Analytics will use the analytics cookie on your computer to analyse how users use the website. The information generated by the cookie about your website use (including your IP address) may be transmitted and stored by Google on its servers. Google may use this information to evaluate your use of the website to comply with reports on website activity and to provide other services relating to website activity and internet usage. Google may also transfer this information to third parties if required by law. Google will not associate your IP address with any other data. By using this website, you consent to the processing of data about you by Google in the manner described below.","home_cookie_content3_item1":"Verify your identity and detect your country","home_cookie_content3_item2":"Detect browser type and device","home_cookie_content3_item3":"Track client web access points","home_cookie_content3_item4":"Allow third parties to customise content accordingly","home_cookie_content4":"These cookies are usually only set based on actions visitors take (i.e. service requests), such as setting privacy preferences, logging in or filling in forms. These cookies are essential for the website to function and cannot be turned off on your system. You may set your browser to notify you when cookies are in use or to block cookies. If this cookie is blocked, it may result in some website functions not working.","home_cookie_content5":"These cookies are used to analyse traffic and improve the navigation and performance of Finsights’ website. They help us to understand which pages are most and least popular and see how visitors navigate the site. All information collected by these cookies is aggregated and processed anonymously. If you do not allow the use of these cookies, we will not have information of when you have visited our website.","home_cookie_content6":"These cookies are used to remember specific choices made by you (i.e. username, language or country etc.) when you return to our website. This enable us, subject to your choices and preferences, to provide enhanced and personalized features based on this data.","home_cookie_content7":"These cookies allow us to identify your browser and device to track visitors across website uses and target advertisements accurately. They are set by our advertising partners. These companies may use cookies to build a map of your interests and show relevant advertisements on other websites you may visit. If you do not allow these cookies to be used, you will not be able to experience targeted advertising on different websites.","home_cookie_content8_item1":"Google Chrome","home_cookie_content8_item2":"Internet Explorer","home_cookie_content8_item3":"Mozilla Firefox","home_cookie_content8_item4":"Mozilla Firefox","home_cookie_content8_item5":"Safari (iOS)","home_cookie_content8_item6":"Safari (macOS)","home_cookie_content8_p1":"You can set your browser to disable cookies or to notify you when cookies are being stored. If you disable cookies or refuse to accept a website’s request to place cookies, it is possible that some parts of this website will not function properly or potentially not work at all.","home_cookie_content8_p2":"You can find more information about cookie management by visiting the following links:","home_cookie_content8_p3":"For other browsers, please visit the relevant browser developer’s website for instructions on managing the cookies.","home_cookie_content8_p4":"Apart from cookies, some information relating to your visits to the Finsights websites may be captured through your web browser (depending on your settings) whenever a connection is made over the internet, due to how the internet functions. The capture of this information is therefore, subject to your own settings and not within our control. Consequently, the disabling and deletion of our cookies will not prevent such information from being captured.","home_cookie_content8_p5":"Finsights uses cookies to improve your user experience as stated in our","home_cookie_content8_p6":"If you continue on this website, you will be providing consent to our use of cookies.","home_cookie_subtitle1":"What are cookies?","home_cookie_subtitle2":"Why cookies are helpful?","home_cookie_subtitle3":"The following is an overview of the functionality provided by our cookies:","home_cookie_subtitle4":"Strictly Necessary Cookies","home_cookie_subtitle5":"Statistics Cookies","home_cookie_subtitle6":"Preference Cookies","home_cookie_subtitle7":"Marketing Cookies","home_cookie_subtitle8":"How to control cookies?","home_cookie_title":"Cookie Policy","home_dot":".","home_education_article_tip":"Disclaimer: The content of this article solely represents the author's personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article's content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.","home_education_title":"Education","home_education_trading_guide":"Our courses","home_education_view_all_course":"View All Courses","home_footer_content_contact":"Content Collaboration","home_footer_content_contact_email":"contentcollab@tradingkey.com","home_footer_cookie_title":"Cookie Policy","home_footer_copyright":"© Copyright: FINSIGHTS MEDIA PTE. LTD. All Rights Reserved.","home_footer_license1":"Terms and Conditions","home_footer_license2":"Privacy Policy","home_footer_license3":"Risk Warning","home_footer_media_title":"Follow our community","home_footer_privacy_title":"Privacy Policy","home_footer_tip0":"Intraday Data provided by Refinitiv and subject to terms of use. Historical and current end-of-day data provided by Refinitiv. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.","home_footer_tip1":"* References, analysis, and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgement of the analyst, without considering the investment objectives and financial situation of the investors.","home_footer_tip2":"Risk Warning: Our Website and Mobile App provides only general information on certain investment products. Finsights does not provide, and the provision of such information must not be construed as Finsights providing, financial advice or recommendation for any investment product.","home_footer_tip3":"Investment products are subject to significant investment risks, including the possible loss of the principal amount invested and may not be suitable for everyone. Past performance of investment products is not indicative of their future performance.","home_footer_tip4":"Finsights may allow third party advertisers or affiliates to place or deliver advertisements on our Website or Mobile App or any part thereof and may be compensated by them based on your interaction with the advertisements.","home_footer_tip5":"Without written permission from Fusion Media and/or the data provider, it is prohibited to use, store, reproduce, display, modify, transmit, or distribute the data contained on this website. The suppliers and exchanges providing the data on this website retain all intellectual property rights.","home_footer_tip6":"The English version of this agreement is the primary version. In case of any discrepancy between the English version and the Chinese version, the English version shall prevail.","home_footer_use_title":"General Terms of Use","home_header_calender_data_actual":"Actual","home_header_calender_data_forecast":"Forecast","home_header_calender_data_previous":"Previous","home_header_popular_analysis_title":"Popular Articles","home_header_popular_article_title":"Popular Articles","home_header_user_login":"Log in","home_header_user_logout":"Log Out","home_header_user_register":"Sign Up","home_header_user_setting":"Settings","home_header_user_signup":"Sign up","home_jump_now":"Browse Now","home_lang_switch_popup":"Browse the English version of Tradingkey?","home_lose_list_title":"Top Losers","home_market_title":"Market","home_nav_ipad_lang_select":"Select Language","home_nav_switcher_tip":"Colour Preference","home_news_title":"Latest","home_page_name":"Home","home_privacy_content10_item1":"Right to access: you have the right to request a copy of the personal data that we hold about you. This information is provided free of charge, except from cases where a request is manifestly unfounded, excessive or repetitive, or when receive a request to provide further copies of the same data. In such cases, we will send you a fee request which you will have to accept prior to us processing your request. Alternatively, we may refuse to comply with your request in these circumstances.","home_privacy_content10_item2":"Right to rectification: you can request us to correct the personal data that we hold about you that may be inaccurate or incomplete;","home_privacy_content10_item3":"Right of erasure: you may ask us to delete your personal data, if they are no longer needed for the purposes originally collected, or when you withdraw your consent or object to the processing, or when the processing was unlawful. Note, however, that your right for erasure does not apply when we are required to retain your personal data for legal or regulatory purposes;","home_privacy_content10_item4":"Right to restrict processing: you can request us to suspend the processing of your personal data:","home_privacy_content10_item5":"Right to data portability: you can request the transfer of the personal data you provided to us, either to you or a third party, if this is technically feasible. We will transfer the data in a structured, commonly used and machine-readable format.","home_privacy_content10_item6":"Right to object: you can object to the processing of your personal data, at any time:","home_privacy_content10_item7":"Right to withdraw: you can withdraw your consent at any time, where we are relying on consent, to process your personal data. Note that if you withdraw your consent, we may not be able to provide certain products or services to you.","home_privacy_content10_item8":"Rights relating to automated decision making and profiling: you have the right not to be subject to a decision based solely on automated processing, including profiling, if such decision has legal consequences for you or otherwise significantly affects you. This right shall not apply when the automated decision making is necessary for entering into, or performance of, a contract between us, or when is authorized by law, or is based on your explicit consent.","home_privacy_content10_item9":"Right to lodge a complaint: If you are not satisfied with the way we address your requests or concerns, you may lodge a complaint to a EU supervisory authority.","home_privacy_content10_list1":"a. until we rectify any data that you contest its accuracy;
b. when our use is unlawful but you oppose deletion;
c. if we no longer need your personal data, but you need it to establish, exercise or defence legal claims; or
d. where you have objected to the processing, but we are verifying whether we have overriding legitimate grounds to use it.","home_privacy_content10_list2":"a. on ground relating your particular situation, when the processing is based on our legitimate interests. However, we may be able to continue processing your personal data, if we can demonstrate compelling legitimate grounds for the processing, which override your interests, rights and freedoms or when the processing is for the establishment, exercise or defence of legal claims;
b. for direct marketing purposes, including profiling related to direct marketing. Where you have subscribed to our newsletters, market news and other promotional communications, you may opt out by clicking on the unsubscribe link in the email communication or by contacting Finsights at dpo@tradingkey.com.","home_privacy_content10_p1":"(1) The personal data we collect from you may be transferred to and stored at a destination outside the European Economic Area (the “EEA”). In such cases, we will ensure that a similar degree of protection is afforded such as standard contractual clauses or other legal mechanisms that safeguard the security and confidentiality of your personal data during such transfers. In any case, we will employ all reasonable measures to guarantee the proper treatment of your data, consistent with the principles outlined in the present Policy.","home_privacy_content10_p2":"(2) You have certain rights which are detailed below. Note however, that these rights may not apply in all circumstances:","home_privacy_content11":"(1) If you have a query concerning this Policy or you wish to lodge a complaint or exercise any of the abovementioned rights, please send your requests to our Data Protection Officer at dpo@tradingkey.com or write to us at 5 Temasek Boulevard, #11-01, Suntec Tower 5, Singapore 038985. We put our best efforts and aim to respond within 1 (one) month. In case your request takes longer than 1 (one) month, we will notify you accordingly and keep you updated.","home_privacy_content12":"(1) We keep our Privacy Policy under regular review, therefore, this Policy may change at any time in the future. In the event of updates, the revised version will be posted on our website and you are deemed to have accepted any modifications to this Policy on the date of your first use of the website following the update.","home_privacy_content13":"(1) Subject to applicable data protection laws, you may request the erasure of your personal data where such a right is provided. Requests for erasure will be considered and processed in accordance with legal requirements. However, this right may not apply in certain circumstances, including but not limited to cases where the data must be retained for legal, regulatory or contractual obligations.","home_privacy_content1_p1":"(1) At Finsights, we are committed to protecting and safeguarding the confidentiality of your personal data. This Privacy Policy (the “Policy”) describes what types of personal data we collect, how we collect, use, and manage them, and with whom we may share it. It also provides details about your rights with respect to the processing of your personal data and how you can exercise those rights.","home_privacy_content1_p2":"(2) This Policy applies to the processing of your personal data in relation to your use of Finsights’ website and/or services.","home_privacy_content1_p3":"(3) Finsights acts as the controller in relation to your personal data, which means that we are responsible for deciding why and how we process your personal data, in accordance with this Policy.","home_privacy_content1_p4":"(4) When you access our website, use our services or any of the communication channels available to contact us, we consider that you have read and understood the terms of this Policy. By using our website and/or services, you agree that this Policy including any amendments, will govern how we collect, store, use and share your personal data and your respective rights. This Policy, together with the Cookie Policy, forms part of the General Terms of Use.","home_privacy_content2_p1":"(1) We may collect the following information:","home_privacy_content2_p2":"(2) We collect this information mainly from you, through the demo account registration, website cookies, subscriptions to newsletters, emails or additional information provided when you visit or use our website, register online, or communicate with us.","home_privacy_content2_p3":"(3) We may also collect this information from other sources, which may include, analytics providers and publicly available sources (e.g. company registers, websites and social media)","home_privacy_content3_p1":"(1) In addition to the consents you have provided to our collection, use and disclosure of your personal data, we may also collect, use and disclose your personal data without your consent where permitted under applicable law for our legitimate interests or those of a third party, such as, business analysis and development and risk management processes.","home_privacy_content3_p2":"(2) We may also share non-personal, non-identifiable information in aggregate form with third parties for business purposes or we may disclose to our business partners the number of customers in certain demographic groups.","home_privacy_content4":"(1) It is in our legitimate interests to process your personal data to selectively contact you and/or send you information about our products, services, activities and/or events that may be relevant to you (“Marketing Communications”). You may opt-out of receiving Marketing Communications [by clicking on the unsubscribe link in the email communication or by contacting Finsights at dpo@tradingkey.com. In certain instances where Marketing Communications from us are sent to your mobile device, you will have to follow certain prescribed steps to discontinue to the receipt of marketing communications from us.","home_privacy_content5_item1":"to perform our contractual obligations to you;","home_privacy_content5_item2":"to assess and improve the services provided;","home_privacy_content5_item3":"to perform our contractual obligations to you;","home_privacy_content5_item4":"respond to any queries you may have or to investigate your complaints;","home_privacy_content5_item5":"to fulfill our legal or regulatory obligations;","home_privacy_content5_item6":"defend ourselves against any disputes or litigation;","home_privacy_content5_item7":"to perform data analysis to develop, expand and improve our website content and navigation;","home_privacy_content5_item8":"to improve our services and enhance our customer service; and","home_privacy_content5_item9":"to provide you with updates on our services and products, market news and other marketing communications. Note that you may opt out from any marketing communication [by clicking on the unsubscribe link in the email communication or by contacting Finsights at dpo@tradingkey.com.","home_privacy_content5_p1":"(1) We may process your personal data for the following purposes:","home_privacy_content5_p2":"(2) We also use an automated process to research and analyse how our website services are used via cookies, web beacons and other similar technologies and personalise our services.","home_privacy_content6_item1":"any of our group companies or affiliates – to ensure the proper administration of the website and business;","home_privacy_content6_item2":"our employees, agents and/or professional advisors – to ensure the adequate use of personal data;","home_privacy_content6_item3":"service providers who provide services to us which require the processing of personal data, such as in , marketing services and analytics, cloud services, IT or other services – to help service providers in receipt of any shared data to perform functions on our behalf to ensure the smooth running of the website;","home_privacy_content6_item4":"to government authorities, courts, law enforcement authorities, supervisory authorities, tax authorities - where required by law or in response to legal and regulatory requests;","home_privacy_content6_item5":"to auditors or contractors or other advisers auditing, assisting with or advising on any of our business purposes;","home_privacy_content6_item6":"to any third-party - where such disclosure is required in order to enforce or apply the terms and conditions stipulated in the General Terms of Use or other relevant agreements; and","home_privacy_content6_item7":"anyone authorized by you.","home_privacy_content6_p1":"(1) Where necessary, to conduct our business as described above, we may disclose your personal data to the following:","home_privacy_content6_p2":"(2) Unless otherwise required by a regulator, law enforcement or other government authority competent, we shall disclose personal data to third parties on a “need to know” basis. Additionally, we require from each and every third party that may have access to personal data to conform to our privacy standards and more specifically, we require all third parties to respect the security of personal data and information and to treat them in accordance with the applicable regulations and this Policy.","home_privacy_content6_p3":"(3) If we transfer your personal data to countries outside Singapore, it will be done in accordance with the relevant provisions under Singapore laws and regulations. You acknowledge and consent to the transfer of your personal data to any member of our group or affiliates as well as third party service providers and agents outside of Singapore for one or more of the purposes described in this Policy.","home_privacy_content7_p1":"(1) We take reasonable steps and precautions to safeguard your personal data and maintain appropriate technical and organizational measures to ensure that any personal data provided to us are secured and protected from accidental or unlawful destruction, loss, alteration, unauthorized disclosure of, or access to personal data transmitted, stored or otherwise processed.","home_privacy_content7_p2":"(2) We store client information in secure systems/database, which we monitor at all times, and we perform regular backups to mitigate any risk of inadvertent loss of information.","home_privacy_content7_p3":"(3) We have a Data Protection Officer, responsible to ensure that our processes and procedures in regard to personal data are in accordance with this Policy and in compliance with data privacy laws.","home_privacy_content7_p4":"(4) Technical and organizational measures include measures to deal with any suspected data breach. If you suspect any misuse or loss or unauthorized access to your personal data, please let us know immediately by contacting us at dpo@tradingkey.com.","home_privacy_content7_p5":"(5) Unless a longer retention period is required or permitted by law, Finsights will retain your personal data for as long as necessary to fulfill the particular purpose for which it was collected. We may also retain aggregate information beyond this time for research purposes and to help us develop and improve our services. You cannot be identified from aggregate information retained or used for these purposes.","home_privacy_content7_p6":"(6) Where information is no longer required to be held or retained by us for any purpose or legal obligation, we will take all reasonable steps to destroy or de-identify the information, accordingly. Even if we delete your personal data, it may persist on backup or archival media for legal, tax or regulatory purposes.","home_privacy_content8_item1":"(a) Necessary cookies also known as essential cookies, are used in order to ensure a smooth operation of our website or app and provide core functionalities. Due to the fact that these cookies are necessary, they cannot be turned off on your system;","home_privacy_content8_item2":"(b) Statistics cookies are employed to analyse traffic and improve the navigation and performance of our website or app. They help us to understand which pages are most and least popular and see how visitors navigate the site. All information collected by these cookies is aggregated and processed anonymously.","home_privacy_content8_item3":"(c) Preferences cookies enable us to provide enhanced functionality and personalization by remembering your preferences and choices you made in the past.","home_privacy_content8_item4":"(d) Marketing cookies are used to collect information about the user’s behavior and preferences to deliver adverts that are more relevant to your interests. They are usually employed by third party advertising networks.","home_privacy_content8_p1":"(1) Our website and app use cookies and other similar technologies (collectively referred as “Cookies”) to collect data from your device. Cookies are often used to improve your user experience, enable functionalities on the website and the app, facilitate security and provide the business with marketing information about the website’s and app visitors.","home_privacy_content8_p2":"(2) We rely on your consent for using cookies, except from those which are essential for the smooth operation of the site or the app. You can reject cookies at any time by adjusting your browser’s or app settings; however, this may impact your ability to fully explore and utilize the features of our website or app.","home_privacy_content8_p3":"(3) We use the following type of cookies:","home_privacy_content9_p1":"(1) The Finsights website may provide links to third-party websites for customer convenience and information. This Policy does not apply to other advertisers or websites. If you decide to access those links, you will leave the Finsights website. We do not control those third-party sites or their privacy practices, which may differ from Finsights’. You are advised to consult the respective privacy policies of these third party ad servers for more detailed information on their practices and how to opt-out of certain options.","home_privacy_content9_p2":"(2) Third-party ad servers or ad networks use technologies like cookies, JavaScript, or web beacons that are used in their respective advertisements and links that may appear on the Finsights website, which are sent directly to your browser. They automatically receive your IP address when this occurs. These technologies are used to measure the effectiveness of their advertising campaigns and/or to personalize the advertising content that you see on websites you visit. We have no control over the cookies that are used by third party advertisers.","home_privacy_info1":"name and contact information (e.g. phone number, email)","home_privacy_info2":"country of residence","home_privacy_info3":"recordings of electronic communication;","home_privacy_info4":"IP address, location data and other IT communication data, such type of device, browser version and operating system;","home_privacy_info5":"data related to the use of our website and applications, such as pages visited, links and button clicked, content viewed and time spent;","home_privacy_info6":"your preferences to certain types of products and services;","home_privacy_subtitle1":"1. Introduction","home_privacy_subtitle10":"11. For Customers Who Are Resident in the European Union (EU)","home_privacy_subtitle11":"12. How To Contact Us","home_privacy_subtitle12":"13. Privacy Policy Updates","home_privacy_subtitle13":"8. Right to Erasure (Where applicable)","home_privacy_subtitle2":"2. Information We Collect","home_privacy_subtitle3":"3. Legal Basis for Processing","home_privacy_subtitle4":"4. Marketing","home_privacy_subtitle5":"5. How We Use Your Information","home_privacy_subtitle6":"6. Data Sharing","home_privacy_subtitle7":"7. Data Security and Retention","home_privacy_subtitle8":"9. Cookies And Tracking Technologies","home_privacy_subtitle9":"10. Links to non-Finsights websites","home_privacy_title":"Privacy Policy","home_star_investors_title":"Star Investors","home_ta_type_stocks":"Stocks","home_title":"TradingKey - Finance News, In-depth Analysis & Market Quotes","home_top_h5_title":"Daily Ranking","home_top_list_title":"Top Gainers","home_top_table_col_charts":"Charts","home_top_table_col_percent":"Chg%","home_top_table_col_price":"Price","home_top_table_col_price_h5":"Price/Chg%","home_top_table_col_rank":"Ranking","home_trading_analysis_search_ph":"Search","home_trading_analysis_tip":"Source: Trading Central","home_trading_analysis_title":"Trading Strategy","home_trading_analysis_type_all":"All","home_trading_analysis_type_commodity":"Commodities","home_trading_analysis_type_crypto":"Cryptocurrencies","home_trading_analysis_type_fx":"Forex","home_trading_analysis_type_indices":"Indices","home_trading_analysis_type_shares":"Shares","home_try_another_search":"No relevant data found. Please try other keywords.","home_use_content0_p1":"Please read these terms and conditions of use (these “Conditions”) carefully. By accessing and using this web page and the other web pages owned or operated by us or accessing and using our online services (our “Website”) or by accessing or using our mobile app (our “Mobile App”), you will be conclusively presumed to have notice of, and you acknowledge that you agree to comply with and be bound, by these Conditions, as amended from time to time. These Conditions govern our relationship with you in relation to our Website and/or our Mobile App. If you disagree with any part of these Conditions, you must immediately discontinue your access or use of our Website and our Mobile App, as applicable.","home_use_content0_p2":"Specific terms and conditions of use appearing on specific web pages and/or sections of our Website or our Mobile App may also apply. Such specific terms and conditions of use shall constitute a part of these Conditions. In the event of any conflict between such specific terms and conditions of use and these Conditions, the specific terms and conditions of use shall prevail to the extent of such conflict.","home_use_content0_p3":"The term \"Finsights Pte. Ltd.\", \"Finsights\", \"we\" or \"us\" refers to Finsights Pte. Ltd. and its affiliates (where applicable), and the term \"our\" has a correlative meaning. The term \"you\" refers to the viewer or user of our Website and/or Mobile App, and the term \"your\" has a correlative meaning.","home_use_content0_p4":"Headings are inserted for convenience and shall not affect the interpretation of these Conditions.","home_use_content10_p1":"1. Our Website and Mobile App provides only general information on certain investment products. Finsights does not provide, and the provision of such information must not be construed as Finsights providing, financial advice or recommendation for any investment product. The Materials are subject to change without notice.","home_use_content10_p2":"2. The availability of any Materials on, or the grant of access or use of, our Website or Mobile App should not be taken in any way as an inducement to trade or a solicitation for orders or entry into any legal relations, nor taken as intended in any way to prompt any action or decision on your part whether to undertake or consider undertaking any investment decision or otherwise.","home_use_content10_p3":"3. THE MATERIALS RELATING TO INVESTMENT PRODUCTS ARE AND SHOULD BE TAKEN AS PREPARED FOR GENERAL CIRCULATION AND NONE WAS PREPARED WITH REGARD TO THE SPECIFIC INVESTMENT OBJECTIVES, FINANCIAL SITUATION OR PARTICULAR NEEDS OF ANY PARTICULAR PERSON (INCLUDING YOU) WHO MAY RECEIVE OR HAVE ACCESS TO THE SAME. ANY RECOMMENDATION OR ADVICE THAT MAY BE EXPRESSED IN OR INFERRED FROM THE MATERIALS AVAILABLE THROUGH OUR WEBSITE OR MOBILE APP THEREFORE DOES NOT, SHOULD NOT BE TAKEN AS TAKING INTO ACCOUNT, AND MAY NOT BE SUITABLE FOR, YOUR INVESTMENT OBJECTIVES, FINANCIAL SITUATION AND PARTICULAR NEEDS, AND BEARING IN MIND THE POSSIBILITY OF MARKET VOLATILITY AND CHANGES, MAY NOT EVEN COMPRISE CURRENT INFORMATION, CONTENT, RECOMMENDATION OR ADVICE.","home_use_content10_p4":"4. THE MATERIALS AVAILABLE THROUGH OUR WEBSITE OR MOBILE APP SHOULD THEREFORE NOT BE RELIED UPON IN RELATION TO ANY INVESTMENT DECISION, TRADING ACTIVITY OR ORDER PLACED BY YOU AND YOU SHALL, AT ALL TIMES, RELY ON YOUR OWN INDEPENDENT ASSESSMENT AND JUDGMENT IN RESPECT OF ANY INVESTMENT DECISION OR PROPOSED TRANSACTION AND SEEK INDEPENDENT ADVICE AS NECESSARY FROM YOUR OWN FINANCIAL, LEGAL, TAX OR OTHER PROFESSIONAL ADVISERS, INCLUDING BUT NOT LIMITED TO, ADVICE FROM A FINANCIAL ADVISER AS TO THE SUITABILITY OF THE INVESTMENT PRODUCTS (AS MAY BE REFERRED TO IN THE MATERIALS AVAILABLE THROUGH OUR WEBSITE OR MOBILE APP), TAKING INTO ACCOUNT YOUR SPECIFIC INVESTMENT OBJECTIVES, FINANCIAL SITUATION OR PARTICULAR NEEDS, BEFORE MAKING ANY COMMITMENT TO ACQUIRE, TRADE OR DEAL IN ANY SUCH INVESTMENT PRODUCTS.","home_use_content10_p5":"5. Investment products are subject to significant investment risks, including the possible loss of the principal amount invested. Past performance of investment products is not indicative of their future performance. Examples, where provided, are provided for illustrative purposes only.","home_use_content11_p1":"We reserve the right, in our absolute discretion, to monitor any and all access and use of our Website and Mobile App. We reserve our right to terminate your access and/or use of our Website and/or Mobile App or any part thereof and we may block access from a particular internet protocol address to our Website and/or Mobile App or any part thereof in the event of any violation of these Conditions. In addition, we reserve the right to seek all remedies available under these Conditions, at law and in equity for violations of these Conditions. These may include, without limitation, take-down requests to online locations, network service providers, search engines and/or app stores and/or notification to domain registration service providers.","home_use_content12_p1":"We may, from time to time and at any time, update or revise these Conditions. Such update or revision is effective upon publication on our Website and/or Mobile App. You are responsible for ensuring that you have read the most current version of these Conditions. Your continued access and/or use of our Website or Mobile App will be deemed to constitute your conclusive acceptance of the updated or revised Conditions. The Materials are subject to change including, without limitation, modification, deletion or replacement thereof without notice.","home_use_content13_p1":"If any provision of these Conditions, in whole or in part, is held to be illegal, invalid or unenforceable under any enactment or rule of law or by any court in any jurisdiction: (i) such provision or part will, to that extent, be deemed not to form part of these Conditions, but the legality, validity and enforceability of the remainder of these Conditions is not affected; and (ii) the legality, validity and enforceability of that or any other provision or part under any other jurisdiction will not be affected.","home_use_content14_p1":"These Conditions shall be governed by, and construed in accordance with, the laws of Singapore. You agree to submit to the non-exclusive jurisdiction of the Singapore courts.","home_use_content1_p1":"1. The information and materials located or hosted on, or linked to, our Website and Mobile App (the “Materials”) are protected by copyright, trademark and other forms of proprietary rights. Such Materials include, but are not limited to, any price information, data, photographs, graphics, illustrations, designs, trademarks, trade names, service marks, product names, logos, insignias or other devices, software programmes, downloadable files, software applications, interactive features, tools, services, articles, videos or other information or content made available on or through our Website and Mobile App. The presentation and layout of the Materials is also protected by copyrights, trademarks, service marks, international treaties and other proprietary rights and laws of Singapore and other countries.","home_use_content1_p2":"2. Unless otherwise stated, the rights, titles and interests to the Materials are owned by, licensed to or controlled by us.","home_use_content1_p3":"3. You shall not use any of the names, marks, designs and logos owned or controlled by Finsights and/or Finsights’ affiliates (collectively, “Finsights Marks”, including the words “TradingKey”, Finsights’ TradingKey logo and other service marks, trademarks, trade names, slogans, symbols, designs, insignia, emblems and other identifying characteristics associated with Finsights and/or its affiliates, whether used alone or in conjunction with any other name, words or marks) without Finsights’ prior written consent.","home_use_content1_p4":"4. Finsights and/or any Finsights affiliate may in its sole discretion request you to modify or remove any Finsights Mark, including where such use or reproduction may affect Finsights’ and/or Finsights’ affiliates’ rights. Finsights and Finsights’ affiliates reserve all rights to take action against any misuse or infringement of any Finsights Mark and/or violations of applicable laws. In the event you enter into any definitive agreement with Finsights and/or any of Finsights’ affiliates relating to any Finsights Mark, the terms of such definitive agreement shall prevail in the event of conflict between such definitive agreement and any of these Conditions.","home_use_content1_p5":"5. All other trademarks, trade names, service marks, product names and logos contained herein that are not owned by, licensed to or controlled by us are used in an editorial fashion only, and to the benefit of respective owners, with no intention of infringement of any trademark or any other intellectual property rights.","home_use_content2_p1":"1. You may access and view our Website and Mobile App and may save an electronic copy or print out a copy of the Materials, solely for your own personal and non-commercial use. If you make a copy of the Materials, you must ensure that such copy must be in the form as presented on our Website or Mobile App and must include all applicable copyright and other notices on our Website Mobile App, as applicable.","home_use_content2_p2":"2. Except with our prior written permission, you may not copy, store (either in hardcopy or in an electronic retrieval system), adapt, alter, translate, transmit, disseminate, distribute, perform, broadcast, publish, reproduce, publicly display, hyperlink, sell, license, rent, lease or otherwise transfer any of the Materials, or otherwise transfer any of the Materials to any other person (whether for direct commercial purpose or monetary gain or otherwise) or otherwise use in whole or in part in any manner.","home_use_content2_p3":"3. Except with our prior written permission, you may not create a derivative work from the Materials, nor decompile, reverse-engineer or disassemble the Materials.","home_use_content2_p4":"4. Any rights relating to the Materials, our Website and Mobile App not expressly granted herein are reserved and no licence or right is granted to you by implication, estoppel or otherwise.","home_use_content3_p1":"1. You acknowledge and agree that, as a condition of your access and use of our Website and Mobile App, you will not use the Materials or our Website or Mobile App for any purpose that is unlawful or prohibited by these Conditions.","home_use_content3_p2":"2. You may not use our Website or Mobile App in any manner that could damage, disable, overburden or impair any Finsights server, or the networks connected to any Finsights server, or interfere with any other party’s access and use of our Website or Mobile App.","home_use_content3_p3":"3. You shall not redistribute, copy, amend, or commercially exploit any of the Materials and/or our Website or Mobile App, or use any of the Materials, our Website or Mobile App in order to build a similar or competitive service.","home_use_content3_p4":"4. You may not attempt to gain unauthorised access to our Website or Mobile App, or any services provided via our Website or Mobile App, other accounts, computer systems or networks connected to any Finsights server or to any of the services provided via our Website or Mobile App, through hacking, password mining or any other means.","home_use_content3_p5":"5. You may not obtain, or attempt to obtain, any Materials or other information through any means not intentionally made available on or through our Website or Mobile App.","home_use_content3_p6":"6. You may not use any computerised or automatic mechanism, including without limitation, any Web scraper, spider or robot, to access, extract and/or download any information from the Materials, our Website or Mobile App.","home_use_content3_p7":"7. You may not violate other users’ or third parties’ rights to privacy, publicity and other rights, or harvest, scape, data aggregate, data mine, screen scrape, index or collect data and information or other users or third parties without their consent, whether manually, or automatically with the use of any means, including without limitation, bots, crawlers, spiders, sifters and load testers, or engage in testing, pen-testing, sniffing or monitoring of access and use of the Website or Mobile App, their systems, software or hardware.","home_use_content4_item1":"You shall not indicate or suggest that we are affiliated with, endorse or sponsor your website or any non-Finsights website, entity, service or product and shall not use any Finsights Marks without our express prior written consent.","home_use_content4_item2":"You may not deep-link to our Website or Mobile App or any part thereof which was dynamically created by our system and customised for particular usage sessions.","home_use_content4_item3":"You may not hyperlink or deep-link to our Website or Mobile App or any part thereof from any web page or website which contains materials or information which is inappropriate, profane, discriminatory, defamatory, infringing, obscene, indecent, vulgar, harassing, privacy invading, abusive, threatening, harmful, tortious, objectionable, unlawful or violates any applicable intellectual property or proprietary rights.","home_use_content4_p1":"1. Unless otherwise stated, you may not link (including, but not limited to, hyperlink, in-line link or deep-link) (hereinafter collectively referred to as “Link”), mirror or frame our Website or Mobile App or any part thereof to any other web page, website, server or otherwise. Except with our prior written permission no trademark, trade name, service mark, product name or logo may be used as a Link or to mark any Link to our Website or Mobile App or any part thereof or any other web page or website.
Subject to the restrictions below, you are allowed to hyperlink to our home page at https://www.tradingkey.com or to deep-link to certain of the web pages of our Website or Mobile App:","home_use_content4_p2":"2. Notwithstanding anything to the contrary in these Conditions, Finsights reserves all rights to terminate any Link from any website to our Website or Mobile App for any reason. Upon our instructions, you must disable, remove and terminate any Link from any web page or website, or any mirroring or framing of our Website or Mobile App or any part thereof immediately.","home_use_content4_p3":"3. We have no responsibility for the content available on any website which Links, mirrors or frames our Website or Mobile App or any part thereof. In no circumstances will we be considered to be associated or affiliated in whatever manner with any trademarks, trade names, service marks, logos, insignia or other devices used or appearing on websites that Links, mirrors or frames our Website or Mobile App or any part thereof.","home_use_content5_p1":"1. Any Links provided on our Website or Mobile App are provided for your convenience only. Should you leave our Website or Mobile App via such a Link, the content that you view in such linked web page or website owned or operated by third parties is not provided or controlled by us. We have not developed or reviewed, and are not responsible for the consequences of your accessing the linked web page or website, and/or the content at those web pages or websites. We make no guarantee, representation or warranty as to, and have no liability for, any content at those websites, including, but not limited to, guarantees, representations and warranties regarding truth, adequacy, originality, accuracy, timeliness, completeness, reasonableness, non-infringement, suitability, satisfactory quality, merchantability or fitness for any particular purpose or any representations or warranties arising from usage, custom or trade or by operation of law.","home_use_content5_p2":"2. Any such Link to other linked web pages or websites on our Website or Mobile App does not constitute (a) an endorsement, authorisation, verification or representation that we are affiliated with the operators or owners of those linked websites; or (b) an endorsement, authorisation, verification, or representation of or as to the contents of such linked websites.","home_use_content5_p3":"3. You agree that your access to and/or use of such linked web pages or websites is entirely at your own risk and subject to the terms and conditions of access and/or use contained therein (including without limitation their privacy and data processing policies and practices).","home_use_content5_p4":"4. Where the Website or Mobile App contain third party software, including but not limited to “open source” software, the use of such third party software may be governed by separate copyright notices and license provisions, which shall be made available to you, as applicable, either by such third party software provider or by us. You shall not use, and shall indemnify and hold us harmless for any such use by or on behalf of you, in a manner which infringes the rights of any third party or which is in breach of these Conditions or any specific license terms. You further acknowledge that your use of any third parties’ site and/or software is subject to the applicable third party’s terms and conditions, and you further agree not to hold us liable for any loss or damage of any sort incurred as a result of any such use.","home_use_content6_p1":"We may allow third party advertisers to place or deliver advertisements on our Website or Mobile App or any part thereof. Such advertisements will be clearly identified as originating from third parties. These third party advertisers may collect, monitor and use information about your visit(s) to our Website or Mobile App and other websites in order to provide advertisements on our Website or Mobile App and other sites about goods and services that may be of interest to you (see below).","home_use_content6_p2":"We do not endorse, and will not be responsible for, the contents of such advertisements or for your access, use, reliance, sale, purchase, or other action on your part with respect to the contents or subject matter of such advertisements. Terms in the section titled “Links to third party websites [and use of third party software]” in these Conditions shall apply in respect of any Link contained in any such advertisement.","home_use_content7_p1":"1. Certain web pages and/or sections of our Website or Mobile App may only be used or accessed through your email identifier and password (“Login Credentials”).","home_use_content7_p2":"2. Identifier and/or password may either be assigned to you or selected by you. Where they have been selected or changed by you, we have the discretion to reject any selection or change without assigning any reason. We recommend that you change your passwords often, use a combination of letters and numbers, and ensure that you use a secure browser.","home_use_content7_p3":"3. You will be solely responsible to keep the Login Credentials confidential, secret and secure. You must not disclose it, or allow it to be disclosed, to any other person.","home_use_content7_p4":"4. If you believe that the security or confidentiality of your Login Credentials has been compromised, you have the responsibility to change your identification key or password. You will be liable for any unauthorised use or access of such web pages and/or sections of our Website with your Login Credentials. We are not liable for any damages resulting from any security breaches, unauthorised and/or fraudulent use or access of such web pages and/or sections of our Website or Mobile App with your Login Credentials.","home_use_content8_item1":"anything done or omitted to be done in relation to the Materials or any delay, inaccuracies or omissions in the Materials or any interruption to the supply of Materials;","home_use_content8_item2":"the use of the Materials; or","home_use_content8_item3":"the use or access of our Website or Mobile App.","home_use_content8_item4":"Your access and/or use of our Website or Mobile App;","home_use_content8_item5":"any other party's access of this website and/or use of the online services using your Login Credentials;","home_use_content8_item6":"your breach of any of these Conditions; and/or","home_use_content8_item7":"any other party's breach of any of these Conditions where such party was able to access the Materials and/or our Website or Mobile App andr by using your Login Credentials.","home_use_content8_p1":"1. The Materials are of a general nature which have not been verified, considered or assessed by us and are provided to you on an “as is” and “as available” basis without warranties of any kind. Your use of the Materials is at your own risk. We hereby disclaim all liability and responsibility to update the Materials. We do not make any representations, and hereby disclaim all warranties, express or implied, statutory or otherwise to the extent permitted by law, in respect of our Website, Mobile App or the Materials, including, but not limited to, guarantees, representations and warranties regarding truth, adequacy, originality, accuracy, timeliness, completeness, reasonableness, non-infringement, suitability, satisfactory quality, merchantability or fitness for any particular purpose, or any representations or warranties arising from usage, custom or trade or by operation of law.","home_use_content8_p2":"2. Due to number of sources from which the Materials are obtained, and the inherent defects of electronic distribution, there may be errors, delays, omissions, interruption, breach of security, corruption, unavailability of access in connection with or inaccuracies in the Materials, our Website or Mobile App (“Defects”). We do not guarantee, represent or warrant that access and use of our Website or Mobile App will be uninterrupted. We assume no responsibility for consequences of any such Defects even if either of us had been advised as to the possibility.","home_use_content8_p3":"3. We do not guarantee, represent or warrant that our Website Mobile App is free of Malicious Software. We accept no liability for any loss, damage, claim liability, expense or costs that may result from any transmission of such Malicious Software via our Website or Mobile App (including, but not limited to, files downloaded from our Website or Mobile App).","home_use_content8_p4":"4. You should not take any action, or omit to take any action, in reliance on the Materials, our Website or Mobile App without independent verification or advice.","home_use_content8_p5":"5. We will not be liable to you or anyone for any loss, damage, claim, liability, expense or costs, whether in contract, tort (including negligence) or otherwise, arising out of or in relation to:","home_use_content8_p6":"6. We will not be liable for any direct, indirect, consequential, incidental, special or punitive loss, damage, claim, or liability including, but not limited to, loss of data, profits, business contracts or business opportunities, whether in contract, tort (including negligence) or otherwise.","home_use_content8_p7":"7. You hereby agree to indemnify and hold us harmless against all loss, damage, claim, liability, expense or costs suffered or incurred by you in connection with or arising from:","home_use_content9_p1":"1. The Materials are not intended for distribution to or for use by or to be acted on by any person or entity located in any jurisdiction where such distribution, use or action would be contrary to applicable laws or regulations or would subject us to any registration or licensing requirement.","home_use_content9_p2":"2. 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In this podcast, Motley Fool analysts Jason Moser and Emily Flippen and host Dylan Lewis discuss:
Adobe CFO Dan Durn walks through how the leading software company for creatives is approaching AI tooling and monetization.
Go to breakfast.fool.com to sign up to wake up daily to the latest market news, company insights, and a bit of Foolish fun -- all wrapped up in one quick, easy-to-read email called Breakfast News.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our beginner's guide to investing in stocks. A full transcript follows the video.
This video was recorded on Nov. 22, 2024.
Dylan Lewis: It's the most wonderful time of the year unless you're Target. This week's Motley Fool Money radio show starts now.
Everybody needs money. That's why they call it money. From Fool Global headquarters, this is Motley Fool Money.
Dylan Lewis: It's the Motley Fool Money Radio Show. I'm Dylan Lewis. Joining me over the Airwaves Motley Fool senior analyst Jason Moser and Emily Flippen. Fools, great to have you both here. This week, we've got the rundown on how one of the leaders in AI is prioritizing projects, all eyes on NVIDIA's earnings and a look at retail, and that is where we are going to pick things up. Red in the chart this week for Big Red, Jason. Shares of Target down 20% after the company reported third quarter results. What'd you see?
Jason Moser: Well, that was a big move for sure, particularly for a company like Target, obviously a large retailer in the space. It's challenging time for consumers and clearly a challenging time for some retailers. We've certainly seen in regard to Target, we saw a two percent decline in average ticket there. People are going to the store, but they are spending less. For me, that really goes back to something Brian Cornell was talking about in a call there, where consumers just continue to spend very cautiously, most notably in discretionary categories. That's a problem for Target, because if we compare something like a Target to a Walmart, they're very similar, but they are a little bit different.
I think Target doesn't necessarily benefit from the groceries side of things like a Walmart would. So when we hear about headwinds in discretionary categories, that's going to be a really big problem for Target. The other thing that they really suffered from, you remember we've been talking about the dock workers strike over the last several months. That was short-lived. But it was something that actually could have gone on longer than it really did. The thing is Target prepared for that by bringing a lot of inventory in. They really stocked their shelves in order to make sure they didn't witness shortages. Ultimately, what that ended up in was just a little bit of bloke there. Brian Cornell, again, he referred to this idea that they were a little bit fuller than usual and they just don't operate so well when they're as full as they are or when they have as much inventory as they do. I think that ultimately played out in the numbers. I mean, listen, Target they're dealing with some serious competition here in this big retail space. You're talking about companies like Walmart, Costco, and whatnot, and certainly Target's feeling the pressure.
Dylan Lewis: Let's talk about that competitive landscape a little bit, because if you were to focus just on Target, you would have a very specific view of the consumer and what's going on here. But Emily, over at Walmart, we don't necessarily see it playing out the same way.
Emily Flippen: No. In fact, you'd wonder if these two companies were operating in the same environment where Target stumbled, Walmart is just running straight ahead. You'll notice that traffic growth is only marginally better for Walmart. I think they had around 3% traffic growth versus 2% traffic growth for Target in the quarter. But same store sales growth is really where Walmart is starting to shine. Their same store sales growth in the quarter was above 5%. If you compare that to Target, Target was under half a percent. So incredible business there for Walmart, but I do think that just these numbers alone don't really paint the right story.
Now, obviously, Walmart is attracting higher earners who are a little bit more cost conscious. Inflation is obviously on everybody's minds. People are still feeling the pain and Walmart noted that households making six figures or above, were responsible for three quarters of their customer gains over the course of the past quarter. So you can see how that would theoretically steal from customers that would otherwise go to Target. But I'm still not convinced that Target has some systematic issue here. This is what we always see between these two businesses. When people feel cash strapped, they trade down to Walmart and Walmart gets the benefit of having a third party e-commerce site of having healthcare. The sales of GLP-1 drugs, for instance, were beneficial to Walmart in a way they weren't for Target's. All of these other businesses that make them look good when the environment and the economy is a bit tighter. First is Target has a lot of discretionary items.
That's typically their spent in merchandising for Target has historically been strong. So the fact that Targets tends to do better in expansionary environments, I think, should not be loss on our listeners because this quarter, in my opinion, is not riding off Target for dead. They do have their job cut out for them, but I do think the holiday sales could be surprisingly where they shine.
Dylan Lewis: You're right. It is officially Mariah Carey season. We are talking holiday sales. It is holiday season and that's top of mind for a lot of people. When you look at the results together Jason, what do you think they're saying about the expectations we should have for retail as we head into that all important Q4?
Jason Moser: Well, certainly the holiday season is a big time of year for everyone. I think when you look at something like a Walmart versus a Target, I mean, one of the things that comes to mind here, is just the advantage of scale. When you think about Walmart, Walmart is basically 10 times the market cap of Target and it's basically seven times the sales of Target. Scale really does matter when it comes to this line of work, obviously, we see Walmart benefit from grocery. But again, I think the common theme, the thread, regardless of the companies, they're all talking about this cautious consumer.
The consumer just continues to spend very cautiously. Even more so, consumers are looking across platforms to find deals. So they'll go to a Walmart and then they'll shop around or to a Target or to an Amazon or wherever else it may be in order to see if they can find a good deal. So I do think we will see that cautious consumer theme continue to play out here over the course of the holiday season.
Dylan Lewis: This is something that's not only coming for the big box companies, we are seeing it show up retailers across the industry. Moving us up market just a little bit, we have fresh earnings from Williams-Sonoma this week. Emily, if you showed me the results and then asked me how I thought the market would react to these results, I would not have guessed that shares would be up 20% after the report.
Emily Flippen: Absolutely incredible reaction to Williams-Sonoma's quarter. I mean, good luck trying to reconcile the narrative we just painted with Walmart and Target with the share price results for business like Williams-Sonoma. But I will just quickly mention, while Williams-Sonoma, if anybody is unaware, owns a host of brands that tend to be a bit more high end. So it doesn't really make sense, then. Why are shares up 20 plus percent if we're all not purchasing things and going to Walmart instead, it's all in the expectations.
I mean, expectations for Williams-Sonoma have been persistently low for a while now. This quarter saw comps only decline 3%. Now, I know you're thinking, 3% decline in comps? That sounds awful. There's been a 10% contraction in revenue, total revenue over the course of the past year. But all of this represents a slowdown in the negative growth, which I guess is a good thing for investors. To give credit where credit is due obviously, I'm taking some shots here at Williams-Sonoma. They are still positive in terms of their cash flow and they're using that cash flow to buy back shares. Their bottom line tends to grow faster than their top. So actually, earnings per share did grow in the quarter. So it's not like this business is completely going into nothing. They also pay a pretty well covered dividend, but you still have to ask yourself, what is the future for Williams-Sonoma? Where is the place in this world? Because if the, I guess, concerning purchasing patterns of Americans continue, I think Williams-Sonoma might have a Target in front of them, literally, in terms of their next quarter.
Dylan Lewis: For the shareholder perspective, a little bit less the consumer perspective, there was a period where Williams-Sonoma, I think, based on those expectations, was down below ten times earnings. It was very cheap on a historic basis. We are now looking at a company that is well above 20 times earning, much more in the zone that it tends to trade in and yet we are not seeing top line. We are seeing that negative growth rate slowing, Emily. Is it a bit of a watch out below type moment for Williams-Sonoma?
Emily Flippen: I should really knock on wood when I say this. I'm inclined to say yes, and interestingly enough, it's not because I actually think the business is doomed, I actually think they have a fair amount of opportunity in front of them. They play it correctly. But I'm concerned about their investments in e-commerce. These aren't brands that have naturally transitioned to an e-commerce model and the fact that we're sitting here, it's almost 2025. Talking about their need to move to an omnichannel approach is absolutely mind boggling to me because this business, in my opinion, is behind on the infrastructure and digital investments they needed to have made to this point.
I think if they're going to keep these brands competitive, that's going to require a fair amount of CapX in front of them, that it's possible the market's not pricing in. Interestingly enough, that's my main concern to them. How are they going to meet the consumers where they are today? Because I don't know they have so far.
Dylan Lewis: Coming up after the break, we've got tech earnings, including the one we've all been waiting for in NVIDIA. Stay right here. You're listening to Motley Fool Money.
Jason Moser: In the creators of the popular science show with millions of YouTube subscribers comes the Minute Earth podcast. Every episode of the show dives deep into a science question you might not even know you had. But once you hear the answer, you'll want to share it with everyone. Why do rivers curve? Why did the Trex have such tiny arms? And why do so many more kids need glasses now than they used to? Spoiler alert, it isn't screen time. Our team of scientists digs into the research and breaks it down into a short, entertaining explanation, jam packed with science facts and terrible puns. Subscribe to Minute Earth wherever you like to listen.
Dylan Lewis: Welcome back to Motley Fool Money. I'm Dylan Lewis. Here on air with Emily Flippen and Jason Moser. We are right back on the earnings beat. And we've gotten used to some huge market reactions from NVIDIA's results over the last year. Guys, I'm amazed to say it. But this wasn't even the lead story for us this week. Jason, are we now in NVIDIA normal when it comes to some of these earnings reports?
Jason Moser: I like that perspective there, NVIDIA normal. This is a 3.5 trillion dollar company at this point. I mean, these things just don't keep growing forever. Now, what that said, I mean, NVIDIA just remains a company that's in a terrific position. Tech is in high demand. NVIDIA products are in high demand and supply just isn't able to keep up. So when those are the case, I mean, hey, listen, economics work out very well for you. But I mean, the numbers are very encouraging. Revenue of $35.1 billion. It was up 17%, sequentially up 94% from a year ago. When we think of NVIDIA, clearly, we're thinking of AI, first and foremost. I think in regard to AI, the primary focus there is on data center and data center revenue of $30.8 billion dollars. That was up 17% from a quarter ago, but up 112% from a year ago.
Cloud service providers remain such a massive part of that performance. They said, I think the Cloud service providers were approximately half of data center sales with that revenue up more than two times from a year ago. Now, I mean, it's not just data center. I mean, obviously, NVIDIA does other things very well. Gaming revenue was up 15% from a year ago. We saw a professional visualization that was up 17% from a year ago. Then even automotive revenue performed very well. It was up 72% from a year ago. I think it's status quo for this business. They just keep doing what we all expect them to do. The Blackwell technology continues to do very well. Demand, they said, in the call, \"That demand is staggering and the hopper demand, I think, is going to be what drives this business at least over the next several quarters.\" But ultimately, they're guiding for 37.5 billion dollar in revenue for this coming quarter. That would represent growth of about 70% from a year ago. So again, just a company that continues to present just amazing growth numbers.
Emily Flippen: I always can't help but think about the amount of pressure that Jin Zen Wang must be under when running NVIDIA. It's actually almost becoming a concern for me as an investor, when I see quarter after quarter of consistent marginal earnings beats from a business, especially of this size, because the pressure to beat earnings now moving forward for NVIDIA and all of the world's eyes on them as what has now become the operating system of the world, that is a risk factor that I actually think we're starting to need to incorporate into our expectations moving forward.
Dylan Lewis: These are the problems that you have when you're growing only 70%, only 94%.
Jason Moser: If somebody is going to say, hey, Jason, what would you advise the CEO of NVIDIA to do? I can't give them much advice, but you know what? I think I would start getting in the business of sandbagging, set expectations even lower because, man, I'll tell you, the world is expecting the world from this company.
Dylan Lewis: That's a free tip there, courtesy of Jason Moser. Saying in the lane of tech, we have some fresh results from Snowflake this week and Emily shares up 30% after the report. Seemed like the market was pretty happy with what the company had.
Emily Flippen: Granted, I do think similar to Williams-Sonoma, although entirely dissimilar to Williams-Sonoma in about a million dollars other ways, the expectations for Snowflake were a bit lower heading into this earnings report. So when they came out with nearly 30% sales growth and then remaining performance obligation growth of like 55%, that's effectively their backlog. So business is accelerating. There was just so much to like in this quarter, especially because for so many different tech businesses, as companies are spending on NVIDIA and AI and such, the question is, how does Snowflake continue to grow its customer base? They're doing a great job proving that they can continue. I do think that Snowflake's platform is going to increasingly become table stakes for enterprises across the globe. They're proving that out. But I can't help. I'm sorry. I have to say it, not to be the pessimist in the room, but the stock based compensation here is out of control and it has not slowed down. This is a maturing company and they're still spending more than a third of their total revenue on stock based compensation. It's padding their cash flow. If I see one more adjusted number out of this management team, my head just might explode.
Dylan Lewis: [laughs] Jason, are you going to pile on or are you going to take the other side of that one?
Jason Moser: Well, I'm not going to take the other side. I think she makes a great point. I think it's something worth keeping an eye on for all investors. Another company that stands out to me, I thought about this because I was putting together some notes recently on Cloudflare. Cloudflare performance has been tremendous here over the last several years business wise. But when you look at the stock based compensation, that has represented the lion's share of operating cash flow. If you even look over the last 12 months, it really has been most of operating cash flow. Now, it's worth noting that is starting to pivot. We're starting to see that change. I think for investors, that's just something to keep an eye on. It's one thing for early start ups for businesses that are just getting involved or getting established. We expect that. But as they mature, you definitely want to see those numbers pivot. At SBC, you want to see that number come down.
Dylan Lewis: If you're going to stick with the optimistic tone a little bit, there is an AI horn to toot for Snowflake. In addition to earnings, they announced a partnership with Anthropic who's the owner of the Claude Large Language Model . They'll be bringing those models to Snowflake on AWS. Emily, this is LLMs in the Cloud, very in the weeds. Give me a hand. What does the average investor need to know with a development like this?
Emily Flippen: I love this. This question is a huge question. I think we're at a precipice right now, which is, are we going to go with one single giant LLM that does everything or lots of tailored LLMs that do lots of little things. I think Snowflake is very much in the second group of that. I love seeing this partnership because it shouldn't be, at least for the time being too capital intensive for this company. So it's a low upfront cost with a high opportunity to deepen engagement with their customers and generate revenue from the partnership alone. So I think it's smart. I think we're headed to the latter, but we're not writing off the former. It's still possible. If that were to happen, Snowflake would need to iterate.
Dylan Lewis: Wrapping us up on the earnings beat. We also had results from cybersecurity firm Palo Alto Networks this week, a bit of a head fake as the market reacted to the results, we saw what looked like a pretty downbeat reaction, only to recover and wind up up for the week. Is that encouragement from the company's guidance? Some processing on the earnings side? What were you seeing, Emily?
Emily Flippen: You can tell that management was disappointed with the market's response because they've been in the process of transforming their business, trying to get away from being just a firewall provider to truly being this platform. They believed this quarter with 14% sales growth, with even faster services growth. So lots of software, annualized recurring revenue growth here that is great from their core customers. They feel like this was a testament to the success of an initiative they launched earlier this year that resulted in a lack of fanfare from the market. I still think it's maybe too early to be taking the victory lap. Platformization is the standard. They're not the first ones to the game, despite management's insistence that everybody is copying them and they were the first. I'm pretty sure a few companies beat it to the punch there. But I do think this is great to see that they are growing ARR per customer and acquiring larger customers at an increasingly expedited pace. All of those directions pointing in the right way. Plus, a rising tide lifts all boats in the cybersecurity industry.
Dylan Lewis: Is platformization a new buzzword we need to be watching out for in company earnings calls? This one we need [inaudible]
Emily Flippen: Palo Alto, certainly watching out for this. They said it was used 50 times more frequently this year versus last, I'm like, why are you collecting that data? What are you doing?
Dylan Lewis: You got to have it handy just in case. Emily, Jason, we're going to see you guys a little bit later in the show. Up next, NVIDIA, not the only company grabbing AI headlines. Adobe is at the forefront of how a lot of end users interact with technology. We hear from their CFO Dan Durn about the company's approach to developing and monetizing AI. Stay right here. You're listening to Motley Fool Money.
Welcome back to Motley Fool Money. I'm Dylan Lewis. With AI front and center in 2024, we wanted to hear from the leaders in this space about how they're building tools and the frameworks they're using for allocating resources to the technology. This week, Adobe's CFO Dan Durn joined me to talk through the digital shift the company continues to see, Adobe's creator friendly approach to AI and how we want shareholders to grade the company's efforts. I'm excited to be talking with you because Adobe is probably one of the companies that is most at the forefront of so many major trends right now that the market is focused on. Heavy digital presence. You guys are in the AI conversation and really leading what's going on in that space, as well. Before we get too deep into anything, I'm just curious. What is the atmosphere like at the company right now?
Dan Durn: It's a great time to be at the company. I think the best place to start is maybe explain a little bit about who we are. We're the creative digital content company with our creative cloud business. We're the digital document and digital workflow business with our document Cloud business, and we're the digital interface between a company and its customers with our digital experience business. Against the backdrop of this pivot we see happening in the global economy, where global economy is moving from global economic growth, being driven by oil and gas for the better part of a century to increasingly being driven by digital content and data.
I call it digitalization of the global economy against the backdrop of digital content and data fueling global economic growth. Any one of those businesses that we have would be a great company. Having all three of those businesses under one roof, I think, makes us a special company. I think there's a strong sense of the moment inside of the company, there's a vibrancy, there's an energy. It's palpable. You can feel it. It's a great time to be at the company at this moment.
Dylan Lewis: I think one of the main things that people are focused on with digitalization and tech right now is artificial intelligence. Why don't we talk a little bit about? I think there are some folks who look at your company and say, Adobe is probably one of the companies most poised to benefit from the proliferation of AI and Gen AI. There are also some folks who think, this is a little bit of a threat to a business that has had really clear ownership of a space for a long time. How are you guys approaching that market?
Dan Durn: Generative AI is this incredible opportunity that we have in front of us. When I think about the mission of who we are as a company, we're going to change the world through digital experiences. When I think about AI and generative AI, it only expands the three massive opportunities that the company is exposed to. We're going to unleash creativity for all. We're going to accelerate document productivity, and we're going to power digital businesses. AI only expands those three massive opportunities, and I can't think of a better company to be at that leverages this technology again to fundamentally change how people live their lives and also how companies compete in their markets. It's a great time to be at Adobe.
Dylan Lewis: You're talking about expanding there and I've heard the thought that things like generative AI could take a lot of the creative tools that you guys make available and make them more accessible to people who have less technical skills. Think about this conversation that we're having right now. Our engineer will be editing this in software that I'm not well versed in. But there are probably a lot of people who have creative ambition but maybe don't have the technical skill set yet. Is that a pathway that you see for new customers or maybe meeting some markets that you're not currently meeting?
Dan Durn: Absolutely, that's going to be a byproduct of the technology we see being increasingly adopted out in the market. But I think it's even broader than that. But let's start with that democratization of access to the creativity process. I think we're in the golden era of creativity. Creativity is no longer just a process that's accessible to the creative pros in this world. These technologies that we're increasingly are adopting are lowering the barrier to entry for a broad cross section of people to now be successful in the creative process. There's a democratization of creativity that is underway. When I think about the creative process, up till now, the most important and valuable skill or the commodity that a creative professional has is their time.
What is the surface area of ideation they can explore? Before they find that spark of magic that they take further in the creative process and really bring to life what is in their mind's eye into the digital world, these technologies are now going to just make that ideation, that exploration far more expansive. Creativity is a uniquely human characteristic. Ingenuity, uniquely human characteristic. Generative AI isn't going to replace human ingenuity and creativity. It's going to augment it. It's going to amplify it. It's going to make the creative people, the creative participants even more productive than they've been in the past and they're going to find that spark of imagination faster and in higher quality ways and then have more time to bring it to life in the digital world. I get really excited about the pervasiveness of these technologies and the way they have to potentially amplify and augment that uniquely human characteristic called creativity.
Dylan Lewis: When we hit these inflection points, there tends to be a tension between being first in this market that has a lot of green space and wanting to make sure that you are being mindful of the legal ethical considerations, particularly with something like AI generated content. How are you guys balancing that with what you develop and roll out to users as products or as features or tools within your software?
Dan Durn: This is where it's really great to be at a company like Adobe. We take our responsibility to the community very seriously, and we've got a differentiated approach to how we're bringing these technologies to life. We're going to do it in a responsible, commercially safe way. What do I mean by that? If we take a look at the AI stack, there's three elements to the AI stack. There's data, there's models and then there's the interfaces that our customers know and love that defines their day to day workflows. We're a participant and a leader in each of those three elements. From a data standpoint, we don't train on our customers' data. We only train on data that we have IP rights to, and we compensate the contributors of that data to our model training.
That's a very differentiated approach versus what others are doing. When you think about the models, we've got decades of experience that give us real differentiation in the market when you talk about things like imaging, design, vector, video, and so where we can differentiate ourselves based on those decades of experience, we're going to produce first class, world class models. But again, we're going to do it in a responsible way. We're co-founder of initiative called content authenticity, where we've created the baseline open source technology around content credentials. Our tools automatically embed these content credentials into the content that's produced. It's like a digital nutrition label. Those that consume the content can see where it came from and can trust the veracity of the content.
Being a leader in building models and bringing them to life in a commercially responsible way, I think is really important. When we think about IP protection, when we think about content authenticity, when we think about digital nutrition labels, and we think about natively and deeply embedding these technologies again, into the surfaces that our customers know and love and defines their day to day work product. They're more likely to adopt these technologies knowing that they're safe and respectful of the ecosystem. We don't scrape data. We don't train on our customers' data. We don't infringe on other people's IP, and we indemnify our customers for the safe use of the models. Our approach is very differentiated in the market, and, again, it's great to be at Adobe and know that you've got a very ethical, responsible market participant at a time of a major inflection like this.
Dylan Lewis: One of the things I really wanted to get your take on was that there's this question right now out in the market, I think, about a lot of AI spend, where we know at some point we'll need to see return materialize, both for end customers and for companies that are heavily investing in AI applications. How are you guys thinking about the amount of leash that you want to give projects internally, knowing that there will be a pay the piper type moment for some of this stuff?
Dan Durn: Here's the, and I'll talk out of both sides of my mouth on this for a second, because I sit in a unique seat inside of a company where I have to have that spark of imagination to work at a great company like Adobe that is capable of innovating and doing great things, but you got to overlay discipline in the process. The natural tension and balance between those two concepts is really where the magic comes to life within technology companies. Innovation is our lifeblood. We need innovation.
The industry defining categories, the industry defining platforms, the products our customers know and love, and the feature sets, the rich feature sets that make them successful is really why our customers keep coming back to the Adobe ecosystem. The way in which we do that, the discipline we apply is really important. What I'll often say in an environment like this where there are so many interesting things to apply our attention and resources to. A company like Adobe, there isn't anything we can't do. We've got the customer relationships, the product portfolio, the industry defining platforms and products, the geographic distribution and footprint, the financial performance. I don't say this arrogantly, but there isn't anything we can't do given who we are as a company, except one thing, and that's everything. Let's prioritize. Let's think very clearly about what is going to make our customers successful. Let's narrow the aperture around those must win initiatives, and then let's sharpen the execution crispness around them. What happens in a moment like this is velocity of innovation will go up, and execution crispness will go up this is what you see from Adobe right now. I think our innovation engine, it's second to none, but it's moving with a velocity that's probably faster than at any point in the company's history.
I really love what I see in terms of the velocity, the innovation, and the execution out of the company. Really proud of the hard work and what this team is doing. Companies that will get distracted by shiny objects in this environment, try to do too much, and then you see the execution crispness atrophy. Right at a moment when a company should be fast, they become slow. This is the real danger in an environment like this. While the spark of imagination is lit and what the possibilities entail, it is an amazing time to be at Adobe, but we're going to be disciplined. We're going to have a very clear sense of prioritization, and we're going to invest and execute against the most meaningful opportunities and make sure we have a velocity with the way in which we execute right now.
Dylan Lewis: I guess on that, you're talking to an audience here at the fool who follows the company, and I know there are a lot of people who will listen to this that own the stock. What's the rubric that you'd like to be graded on when it comes to the development and the commercialization of AI? You may have touched on some of these things in some of your answers already, but I'm curious, are there any specific things you think, this is really our target here, and this is the way we want shareholders to be looking at our plans in this space?
Dan Durn: Well, ultimately, I think it comes down to having a customer centric approach and making your customers successful. If you bring this innovation to life in a customer centric way and make them successful, you see the simultaneous benefits of revenue growth. Bottom line profitability and the cash flow that's derived from that equation. Ultimately, I'd like to see that customer success manifest itself in the top line growth and bottom line profitability of the company. That's the ultimate proof point that we've gotten it right with our customers. All at the same time, doing it in a commercially safe way and a responsible way that's respectful of the community of creators out there that we serve and the employees who have a very strong ethical underpinning. Being responsible while driving customer success is a really powerful combination.
Dylan Lewis: Listeners, if you've got someone we should interview for the show, let us know. Shoot us a note at radio at fool.com. Coming up next, Emily Flippen and Jason Moser are back with some stocks on their radar. Stay right here. You're listening to Motley Fool Money.
As always, people on the program may have interest in the stocks they talk about and the Motley Fool may have formal recommendations for or against, so don't sell anything based solely on what you hear. All personal finance content follows the Motley Fools editorial standards and is not approved by advertisers. TMF only picks products it personally recommend a friends like you, and we are back. I am Dylan Lewis, joined again by Emily Flippen and Jason Moser. As we tape, we are just a few short days before Thanksgiving. Before we get over to our usual radar stock segment in observance of the holiday, I need to ask, what are your radar plates for Thanksgiving dinner? Jason, I know you are a foodie. You are Mr. McCormick. What are you looking forward to eating?
Jason Moser: Well, listen, I'm going to spatchcock the turkey on the Trager. We're going to have some good smoked turkey there. Listeners know that I love peanut butter stuffing, but the problem with spatchcock turkey is you can't really do that. Another tip, fried okra. I know that seems like a Southern summer dish, but it works very well for Thanksgiving.
Dylan Lewis: I'm excited. That sounds pretty good. I might have to stop by your house. Emily, what are you looking forward to?
Emily Flippen: Well, there's one dish that I love so much that I actually don't allow myself to make it any other point of the year because I have no self control. It is like this cranberry dip that you pour over cream cheese and use crackers to dip it. It's a side dish, but it is incredible. I'm sure there's a million recipes out there for it, but I can only have it this once, so that's the thing I'm looking forward to the most.
Dylan Lewis: Hey, you have to celebrate the holiday in traditional form. Whatever that is for you, you got to find it, you got to make space for it.
Emily Flippen: Exactly.
Dylan Lewis: Let's get over to stocks on our radar. I'm here by the classic Rick Engel is going to hit you with the question. Jason, you're up first. What are you looking at this week?
Jason Moser: Well, just C3 AI., a company we've talked about before on this show, Tickers AI. It was a heck of a week for the stock community, it's up around 30 percent on news that they have expanded their partnership with Microsoft in order to accelerate enterprise AI adoption. As a reminder C3 AI, it's an enterprise AI software company. They ultimately provide a platform that enables their customers to design, develop and operate enterprise AI applications at scale. While there are still some questions, I think in regard to how AI is ultimately going to impact us at the consumer level, it does feel like there are a lot of opportunities there on the enterprise side that really does play right into C3's wheelhouse. It's worth noting this is not new news in the sense that these companies have been working together for a while, but it's encouraging to see that they've expanded their relationship. It does really speak to the value proposition that C3 holds in that value chain. I think it could bode well for its future.
Dylan Lewis: Rick, a question or a comment about C3 AI.
Rick Engdahl: C3 AI, ticker symbol AI. They make AI for companies who need AI. Is this a real company? This is a little on the nose for me.
Jason Moser: I was expecting a C3 PO question, Rick. I'm going to defer to answer your question later.
Dylan Lewis: Seems legit, Rick. I don't know. That was a total non-answer. Emily, what's on your radar this week?
Emily Flippen: Tesla's actually on my radar this week, and I've been spending a lot of times spinning my wheels about the impact that President elect Trump's policies may have on the company, on the good hand, they're talking about reducing regulations for the cyber cab. On the other side, I think removing the consumer tax credit may hurt EV adoption, but even more concerningly, over a quarter of Tesla's operating profit is generated from the sale of tax credits to other vehicle manufacturers, and I have this lingering fear that removing the consumer tax credit may incentivize the government and states to remove their other tax credits, which actually maybe could hurt Tesla. I'm probably throwing this out of proportion, but it's on my radar.
Dylan Lewis: Rick, a question or a comment about Tesla?
Rick Engdahl: Any concern that Elon's overcommitted? He's got a lot going on, right?
Emily Flippen: I think the more overcommitted, the better.
Dylan Lewis: He just runs a few companies and does a couple of different things. Rick, which one's going on your watch list this week?
Rick Engdahl: What was the first one again? 3D something. C3PL.
Dylan Lewis: The AI one. It's say fete. I think it's where the market is these days. Emily Flippen, Jason Moser, thank you for coming and bringing your radar stocks. Let's go to do it for this week's fool for money radio show, shows mixed by Rick Engel. I'm Dylan Lewis. Thanks for listening. See you next time.
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Dylan Lewis has no position in any of the stocks mentioned. Emily Flippen, CFA has no position in any of the stocks mentioned. Jason Moser has positions in Adobe, Amazon, C3.ai, and McCormick. Rick Engdahl has positions in Adobe, Amazon, Costco Wholesale, McCormick, Microsoft, Nvidia, Palo Alto Networks, Snowflake, Target, and Tesla. The Motley Fool has positions in and recommends Adobe, Amazon, Costco Wholesale, Microsoft, Nvidia, Snowflake, Target, Tesla, Walmart, and Williams-Sonoma. The Motley Fool recommends C3.ai, McCormick, and Palo Alto Networks and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.