The Weekly Brief (As of November 06)

Amazon (AMZN) reported solid earning, beating both top and bottom line, total sales came at $180.1 billion, beating estimate of $177.8 billion, while EPS came in at $1.95, above expectation of $1.57. The strong results were driven by an accelerated growth in the cloud units; AWS reported the fastest growth rate since 2022 on AI push.
Apple (AAPL) reported strong earnings with total sales of $102.47 billion, slightly above estimate of $102.24 billion, while EPS came in at $1.85, beating the estimate of $1.77. The company sees a big December quarter driven by strong iPhone 17 demand.
OpenAI signs a $38 billion compute deal with Amazon (AMZN), partnering with the cloud leader for the first time, signaling the c$500 billion AI start-up is no longer dependent on Microsoft (MSFT).
Shopify (SHOP) reported a 32% revenue surge, which came in at $2.8 billion compared to $2.76 billion, while EPS of $0.34 was in-line with expectations. The company expects revenue in Q4 to be in the mid to high 20% range.
Suncor Energy (SU) reported an EPS of $1.34, compared to $1.59 in the same quarter last year due to weak oil prices while production and refinery throughput hit new records. SU also increases dividend by 5 percent.

*Analysts of 5i Research responsible for this report have a financial or other interest in AMZN, AAPL, and MSFT. The i2i Fund does not have a financial or other interest in securities mentioned.

New Podcast Episode!

Join your hosts, Chris and Michael from 5i Research, as they welcome Bob Lai, creator of Tawcan.com and co-host of the DIY Wealth Canada Podcast. Bob shares his journey toward financial independence, his dividend investing strategy, and how he’s built over $5,500/month in dividend income while maintaining a balanced, joyful life.

Investor Sentiment - Results and New Survey

Thank you to all those who participated in the previous Investor Sentiment Survey. We have published the results from the survey in a report in a link here.

Please note that the weightings and categorization of these results are still a work in progress, and the model(s) used to analyze the results may change over time as more data comes in.

Alongside the release of the results from the previous survey, we are also releasing the next survey, which can be found below. This survey shouldn't take more than 5 minutes and no personal details are required.

Let us know how you are feeling about markets and the economy by following the link below! We will let you know the results in a following market update.

Investor Sentiment Survey

Report Updates

We have posted a report update on Equitable Bank (EQB) and Altus Group Limited (AIF). EQB is one of the leading financial institutions in Canada, with a solid track record of strong operating results and shareholder-friendly policies. One name has recently faced challenges in growing earnings and book value due to a weak housing market, while the other has been in the process of transitioning its business model to a pure recurring revenue company.

Read the latest updates by logging in here!

Dropping Coverage

We are dropping coverage on GDI Integrated Facility Services (GDI) and Real Matters (REAL). GDI’s highly sticky business, which provides predictable and healthy free cash flow to be deployed toward acquisitions, has faced meaningful headwinds due to weak organic growth and a soft acquisition pipeline. On the other hand, REAL’s capital-light business has proven to be highly cyclical, volatile, and sensitive to macro factors, with limited visibility into future demand. As a result, we will now be dropping coverage on these companies.