The Weekly Brief (As of November 20)
- Disney (DIS) reported a mixed quarter as revenue came in at $22.46 billion, slightly missing the consensus estimate of $22.8 billion, while expecting to deliver double-digit adjusted EPS growth in FY2026.
- Alphabet (GOOGL) announced the company would invest $40 billion in new data centres in Texas through 2027 as the company accelerates efforts to expand capacity to support artificial intelligence capabilities.
- Amazon (AMZN) seeks to raise $12 billion from US bond sale in three years to fund growth of the artificial intelligence infrastructure.
- Microsoft (MSFT) and Nvidia (NVDA) announced plan to invest in Anthropic under a new tie-up that includes a $30 billion commitment from the AI startup to use MSFT’s cloud services.
- Google (GOOGL) introduced Gemini 3.0, which was trained on GOOGL’s in-house chips, as the search giant races to keep pace with ChatGPT’s parent company OpenAI.
- Nvidia (NVDA) reported solid Q3 earning, EPS and revenue came in at $1.30 and $57.0 billion, beating expectations on both top and bottom lines of $1.26 and $55.0 billion, while forecasting strong sales growth for AI chips.
*Analysts of 5i Research responsible for this report have a financial or other interest in GOOGL, AMZN, NVDA and MSFT. The i2i Fund does not have a financial or other interest in securities mentioned.
Flash Report Update
Amid the rapid decline in some of our favourite growth stocks - namely the CSU family and consumer lenders - we are releasing a ‘special’ flash report update on Constellation Software (CSU), Lumine Group (LMN), Topicus (TOI), goeasy (GSY), and Propel Holdings (PRL). These reports provide our insights into each company’s latest earnings results, valuation levels, and overall outlook.
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Report Update
We have posted a report update on Kinaxis (KXS). KXS is a global leader in cloud-based software-as-a-service (SaaS) solutions for supply chain management. Its share price has recently come under pressure, along with other software names, due to negative sentiment and concerns about AI-related disruption. In this report, we share our perspective on the company’s risk/reward profile.
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Dropping Coverage
We are dropping coverage on Enghouse Systems Limited (ENGH). ENGH has been in our coverage list since December 2011 and, while it delivered strong growth through 2020, the company has struggled to fully turn operations around since its peak. Given its lagging performance, execution challenges, and limited growth catalysts, we are discontinuing coverage on ENGH.
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