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▲ Likely positiveInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 704.39 |
| Change that session | -0.01% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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IBM reported third-quarter revenue up 5% to $17.1 billion, above the $16.82 billion consensus compiled by LSEG, and adjusted EPS rose 11% to $2.95 versus $2.86 expected by analysts. Consulting was flat, infrastructure rose 4%, the z17 mainframe fell 20%, and software climbed 8%, with Red Hat up 11%; IBM still targets 4% to 5% revenue growth for the year. The company is betting on quantum computing, projecting a fault-tolerant quantum computer by 2029 using qLDPC error-correcting codes, signing 16 quantum enterprise agreements this year, and advancing to Stage C of DARPA's Quantum Benchmarking Initiative. IBM trades at a forward P/E of 19 based on 2027 estimates, which the author reads as investors assigning some value to its quantum ambitions. The author views quantum as the main reason to own the stock and considers IBM a fitting part of a broader basket of quantum computing stocks.
- Anthropic's IPO Keeps Founders in Control Through a "Founder LLC" Voting Structure
Anthropic has filed its Form S-1 with the SEC, setting up a Nasdaq listing under the ticker ANT, and its proposed structure splits ownership, voting and board control across five share classes. Class F, a single share held by the founders' LLC with no economic rights, gives the co-founders 50.1% of total votes on general corporate matters, while Class T, held by the Long Term Benefit Trust, carries the sole right to elect and remove a board majority. Class N gives strategic cloud partners such as Amazon full financial ownership but no votes, and as a Delaware public benefit corporation, the board must weigh financial returns against responsible AI development for humanity's long-term benefit. The article contrasts this with the dual-class structures at Alphabet, Meta (where Mark Zuckerberg holds a 61% voting majority) and SpaceX, arguing that public investors in Class A shares receive financial exposure while governance rests with Class F and Class T holders.
- Tesla's Full Self-Driving Business Is Growing Fast. But There's a Catch for Investors
Tesla reported third-quarter results on October 21, and its shares fell about 3% afterward. Deliveries totaled 486,532, down 2% year over year but above analyst estimates, while vehicle sales fell 3%, revenue was roughly flat at $28 billion, and non-GAAP EPS dropped 4% to $0.48. The Full Self-Driving business was a bright spot: active FSD subscriptions rose 67% to 1.74 million, priced at $99 per month in the U.S., with an annual run rate approaching $1 billion, and the attach rate in North America exceeded 75%, up nearly 20 percentage points sequentially. The author flags risks including subscription retention, regulatory hurdles, a federal safety investigation after the Cybercab launch, and a valuation of 149.3x forward earnings. Given these uncertainties, the author remains skeptical and is cautious about Tesla stock at current levels.
- Should You Buy Amazon Stock Now or Wait for a Dip?
Amazon shares are up 11% over the past 12 months, trailing the S&P 500's 13% gain, and down 6% over the past six months. The stock trades at a price-to-earnings multiple of 20, or 23 on a forward basis, far below the 50 or 60 times earnings seen in the past, though recent results were helped by investment-related gains. In the second quarter, sales rose 20% and operating income grew 43% year over year, and the company still sees AI-related growth opportunities. The article notes the stock is up 47% over five years, including the 2022 crash, and says its lower valuation could make it attractive long term, while further declines are possible if concerns about the tech sector or AI capital spending grow. It argues that a greater decline is not necessarily coming and that a rally may be overdue.
- Canada opens consultation on stablecoins, citing US GENIUS Act
The Canadian government has opened a 60-day public consultation on proposed regulations for stablecoin issuers that are not financial institutions, with comments accepted until Dec. 23. The draft proposes barring interest or yield payments, requiring redemption within three business days of tokenholder requests, and capping fees at 1% of the coins' total value. The rules fall under Canada's Stablecoin Act, passed in March, and are intended to take effect in fall 2027, when non-financial issuers would have to register with the Bank of Canada before issuing stablecoins. The framework aims to stay consistent with US and other jurisdictions' stablecoin rules to reduce the regulatory burden on multi-jurisdictional issuers. Meanwhile, the US GENIUS Act is scheduled to take effect in January 2027, and the EU's MiCA could give exchanges until January to halt services for non-compliant stablecoins, likely including Tether's USDT.
- AI Agents Found a Way Into Anthropic's Business Systems in Under 12 Hours
Cathedral, a cybersecurity startup founded by four former staffers of the Department of Government Efficiency (DOGE), says its AI agents reached Anthropic's internal systems in less than 12 hours by exploiting weaknesses in third-party administrative and sales software rather than Claude itself. Anthropic confirmed access to a limited set of sales, HR and IT systems holding business contact details and basic user account records, but says customer conversations, Claude responses, source code and model weights were not reached. Anthropic said Cathedral overstated the national security implications and did not disclose all of its activity, while Cathedral said it kept data access to the absolute minimum. A senior Trump administration official, speaking anonymously, said the report has circulated in government and raised national security concerns.
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