Micron Technology is likely to step up its share buybacks from Dec. 9, after federal CHIPS Act restrictions on repurchases expire.
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- The Truth About Netflix's Massive Stock Buybacks
Netflix reported fiscal 2026 third-quarter revenue of $12.87 billion, up 11.9% year over year, with operating income up 34.6% and net income up 43.9%, yet its shares fell as much as 6.7% on Wednesday morning. Barclays and Goldman Sachs cut their price targets and Needham downgraded the stock to Hold, mainly on weaker-than-expected full-year advertising revenue guidance and concerns over U.S. content comparisons. The company repurchased 63.9 million shares for $4.8 billion in the quarter, its largest buyback quarter ever, bringing year-to-date buybacks to $10.8 billion. The article argues the program follows pre-set free cash flow targets rather than signaling valuation, noting buybacks nearly dried up in 2022 when the stock was cheap and surged in mid-2026 as the price fell. Netflix has $22.3 billion of unused authorization, and as of Oct. 21 the stock was 48% below its yearly high, trading at 19 times trailing earnings.
- Elon Musk Says He'd Be 'Stunned' If Any Robot Rivals Optimus At Launch: Gene Munster Calls It A Tesla 'Call Option' With 'Massive Value'
Elon Musk said some humanoid robot demos rely on pre-programmed tasks, and Tesla aims to release footage of Optimus working without a script in a month or two, ahead of first deliveries to other companies late next year. First customers are likely industrial firms, and reaching 20,000 units a week at the Fremont line will take “at least a year, maybe a little longer,” while Musk said he would be “stunned” if any rival has a robot “remotely competitive with Optimus” when deliveries begin. Gene Munster of Deepwater Asset Management said most investors still see Optimus as “optionality,” a “call option that has massive value,” and Tesla has reportedly placed a first large-scale component order for about 5,000 Optimus units, which it has not confirmed. Third-quarter revenue was $28.05 billion, flat year over year and above the $27.88 billion consensus, with adjusted EPS of 48 cents versus 43 cents expected. Automotive revenue fell 3% to $20.56 billion.
- Elon Musk Says He'd Be 'Stunned' If Any Robot Rivals Optimus At Launch: Gene Munster Calls It A Tesla 'Call Option' With 'Massive Value'
On Tesla's third-quarter earnings call, Elon Musk said some humanoid robot demos rely on pre-programmed tasks and that a non-scripted Optimus video is due in a few months. He said the first customers are likely industrial firms with deliveries around the end of next year, and that reaching 20,000 units a week at the Fremont line will take at least a year. Musk said he would be 'stunned' if any rival robot were remotely competitive with Optimus when deliveries begin. Deepwater Asset Management's Gene Munster said most investors still see Optimus as optionality, but a 'call option' with massive value. Tesla's Q3 revenue was $28.05 billion, flat year over year and above the $27.88 billion consensus, and adjusted EPS of 48 cents beat the 43-cent estimate. Shares closed up 3.41% at $386.47 on Wednesday and fell 3.32% to $373.65 in extended trading after the results.
- Alibaba Soars 6% as Apple Sets December Launch for Qwen-Powered iPhone AI in China
Alibaba (BABA) shares rose 6% after Apple (AAPL) said Apple Intelligence will launch in China in December, built on Alibaba's Qwen model, while JD.com (JD) and PDD Holdings (PDD) also gained on reports that Chinese regulators met with banks and brokerages to support the market. The deal gives Qwen access to Chinese iPhone users at very low cost, while Alibaba's AI Labs and Applications segment lost RMB 13.9 billion (adjusted EBITA) in the June quarter, partly from marketing the Qwen app. Alibaba also posted a free cash flow outflow of RMB 44.7 billion in the June quarter, and the article argues the company still needs to show its AI spending can pay off. Apple's Greater China sales rose 30% to $64.8 billion in the nine months to June 27, without Apple Intelligence. JD.com and PDD traded at 7.1x and 6.9x forward earnings, but their growth is weak: JD's revenue fell 2.9% in the June quarter, while PDD's online marketing revenue grew 3%.
- Russia clears Sberbank for crypto trading ahead of December launch
Sberbank, Russia's largest lender, has received central bank approval to trade cryptocurrencies and plans to launch Bitcoin, Ether and Tether USDt products on December 1, 2026, through SberBank Online, SberInvestments and SberBusiness. It has already tested crypto buying, selling, deposits and withdrawals in its app, but the final launch timing depends on further central bank regulations. The central bank's updated register now lists 10 authorized crypto exchange operators and six digital custodians, up from four and five a week earlier, including VTB, T-Invest Lab and Atomyze. These moves follow new crypto rules that took effect on September 1, placing exchanges and custodians under central bank oversight, although Russia still bans using cryptocurrencies to pay for goods and services.
- Is Alphabet's Massive AI Spending a Problem? The CFO Just Revealed Everything Investors Need to Know in a Single Sentence.
Alphabet is spending more cash than it generates: capital expenditures reached $51.4 billion last quarter, mostly for AI compute, and could keep rising in the fourth quarter and in 2027. The company raised $40 billion last quarter alone, fueling investor worries about overextension, and shares fell after its third-quarter earnings release. CFO Anat Ashkenazi said Alphabet expects ROIC to stay meaningfully above its cost of capital throughout the investment cycle, supported by its vertically integrated AI stack. Google Cloud CEO Thomas Kurian said server spending (about 65% of capex) pays back in under two years, and TPU systems in half that time, compared with nearly three years for Amazon. Analysts' average forecast sees free cash flow rising from about $50 billion to more than $300 billion by 2031, though it may drop more sharply in 2027.
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- Tesla Has a Flying Car. What Does This Mean for Archer's Flying "Taxi" Business?
A video showed a Tesla Roadster briefly launching into the air with side thrusters, then flipping upright before landing. The author argues it is not a direct competitor to Archer Aviation: the Roadster is a sports car that carries only one person and is not approved for road use, while Archer's eVTOL is designed to carry four passengers and a pilot and take off and land vertically like a helicopter. Archer has completed three of the FAA's four type-certification phases and is working through the final one. The author views Tesla's demonstration as impressive but mainly a spectacle, whereas Archer's eVTOL could ease traffic in some areas. The author believes the attention on flying cars could even help Archer's air taxi service once its eVTOL is certified.
- Bitcoin Firm Strive Climbs Up the Treasury Ranks With Another Big Buy
Strive, a Dallas-based bitcoin treasury company co-founded by Vivek Ramaswamy, bought 124 BTC for about $10 million at an average of $80,526 per bitcoin between Oct. 24 and Oct. 30. Its holdings rose to 43,124 BTC, worth roughly $3.3 billion, leaving it fourth among public companies, 390 BTC behind Twenty One Capital and 876 BTC behind Metaplanet. Most of the purchase was funded from existing cash, and Strive raised money for the first time by selling its SATS preferred stock. Strategy, led by Michael Saylor, holds 849,327 BTC, nearly 20 times Strive's total. With bitcoin at about $77,000, the holdings are now worth slightly less than what Strive paid.
- Musk warned America will go 1,000% bankrupt. Now U.S. debt tops $40 trillion and counting
According to the article, every American now carries nearly $119,000 of U.S. government debt, and total U.S. debt has topped $40 trillion and keeps rising. Elon Musk says only one thing can fix the problem.
- $1,000 in Bitcoin at the 2017 Peak: What Is It Worth Now?
Buying Bitcoin at its December 15, 2017 peak closing price of $19,665 meant the $1,000 investment fell 84% to $164 in the 2018 bear market, and only regained its value on December 16, 2020. At Bitcoin's November 1, 2026 close of $78,311, the stake was worth about $3,982, a 298.2% gain, still above the about $2,835 (183.5%, excluding dividends) that a $1,000 investment in the SPDR S&P 500 ETF (NYSEARCA:SPY) on December 18, 2017 would have reached. Bitcoin was trading at $77,324, 38.7% below its all-time high of $126,080. U.S. spot Bitcoin ETFs hold $98.1 billion in net assets, but recorded a $643 million outflow on October 30. A drop to the 200-day average of $73,154 would cut the stake to about $3,720.
- Stock Market Today, Nov. 2: Amazon Rallies on Phillip Securities Buy Upgrade and $330 Target
Amazon (AMZN) closed at $245.63, up 2.20%, after Phillip Securities upgraded the stock to “buy” and raised its price target by $10 to $330. Analyst Helena Wang raised her rating and fiscal 2027 revenue estimates, citing strong cloud demand: AWS sales jumped 39% year over year to $46 billion, the fastest growth in nearly five years, and operating income rose 61%. Trading volume reached 57.7 million shares, about 51% above the three-month average of 38.3 million. The stock had slid after last week's earnings report, where heavy AI-related capital spending and cash outflows triggered an initial negative reaction. Broader markets declined, with the S&P 500 down 0.50% to 7,542 and the Nasdaq Composite down 1.07% to 25,164.
- Wesdome Expands High-Grade Zones at Eagle River, Highlighting Growth Potential near Existing Infrastructure
Wesdome Gold Mines (TSX: WDO) reported drilling results from its Eagle River mine near Wawa, Ontario. A hole in the western extension of the 800 Zone intersected 8.3 g/t gold over 10.6 metres, while mineralization was found more than 200 metres below the current zone model. A 500 Zone hole returned 96.2 g/t gold over 2.2 metres (uncapped), and the 700 Zone showed 20.2 g/t gold over 5.7 metres, outlining an interpreted 200 x 100 metre growth area near existing infrastructure. The 2026 near-mine program comprised 21 underground drill holes and one deep surface hole, totalling about 8,000 metres, with four underground exploration drills continuing through 2027. The company said shallower zones near infrastructure could reduce access development and transport distances, offering more options for where and when to mine.
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