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Category: 3. Business

  • Is It Time To Reassess TE Connectivity (TEL) After Its Strong Multi Year Share Price Run

    Is It Time To Reassess TE Connectivity (TEL) After Its Strong Multi Year Share Price Run

    Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St.

    • If you are wondering whether TE Connectivity’s current share price reflects its true worth, this article walks through the key numbers that matter for valuation.

    • TE Connectivity’s share price closed at US$222.78, with returns of a 0.5% decline over 7 days, a 4.5% decline over 30 days, a 4.5% decline year to date, but a 52.9% gain over 1 year, 75.0% over 3 years, and 88.6% over 5 years, which may lead some investors to reassess both upside potential and risk.

    • Recent coverage has focused on TE Connectivity as a key supplier of connectivity and sensor solutions for sectors such as automotive, industrial equipment, and communications. This helps frame how investors think about its long term demand. News flow has also highlighted how the company is positioned within broader themes like vehicle electrification and factory automation, both of which often influence sentiment around its long term earnings potential.

    • Our valuation model currently gives TE Connectivity a score of 2 out of 6, based on how many checks suggest the stock looks undervalued. Next we will walk through the main valuation approaches before finishing with a more complete way to think about the company’s value.

    TE Connectivity scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.

    A Discounted Cash Flow, or DCF, model estimates what a company could be worth by projecting its future cash flows and then discounting those back to today using a required rate of return. It tries to answer what those future dollars are worth in present terms.

    For TE Connectivity, the model used is a 2 Stage Free Cash Flow to Equity approach based on cash flow projections. The latest twelve month Free Cash Flow is about $3.25b, and analysts plus extrapolated estimates point to Free Cash Flow of $3.73b by 2030, with intermediate projections between 2026 and 2035 ranging roughly from $3.32b to $3.97b before discounting. Simply Wall St extrapolates beyond the explicit analyst horizon to build a 10 year path of cash flows in dollars.

    After discounting these projected cash flows, the model arrives at an estimated intrinsic value of about $178.15 per share, compared with the recent share price of $222.78. That implies the stock screens as roughly 25.1% overvalued on this DCF view.

    Result: OVERVALUED

    Our Discounted Cash Flow (DCF) analysis suggests TE Connectivity may be overvalued by 25.1%. Discover 875 undervalued stocks or create your own screener to find better value opportunities.

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  • Is It Time To Reconsider Air France-KLM (ENXTPA:AF) After Its Recent Share Price Swings?

    Is It Time To Reconsider Air France-KLM (ENXTPA:AF) After Its Recent Share Price Swings?

    Make better investment decisions with Simply Wall St’s easy, visual tools that give you a competitive edge.

    • If you are wondering whether Air France-KLM is attractively priced or not, this article walks through what the current market price might be implying about the stock.

    • The shares recently closed at €10.81, with returns of 1.2% over the last 7 days, an 11.9% decline over the last 30 days, and a 35.1% gain over the last year. This is set against longer term 3-year and 5-year returns of 31.9% and 57.3% declines respectively.

    • Recent coverage around Air France-KLM has focused on its position as a major European flag carrier and the ongoing attention investors pay to airlines as travel patterns evolve. This backdrop helps frame why the share price has seen both shorter term weakness and stronger 1-year returns, as the market reassesses risk and potential.

    • Simply Wall St currently gives Air France-KLM a valuation score of 5/6. We will unpack this using several common valuation approaches, before finishing with a broader way to think about what valuation really means for your own portfolio.

    Air France-KLM delivered 35.1% returns over the last year. See how this stacks up to the rest of the Airlines industry.

    A Discounted Cash Flow model projects a company’s future cash flows and then discounts them back to today’s value to estimate what the entire business might be worth per share.

    For Air France-KLM, the model used is a 2 Stage Free Cash Flow to Equity approach, based on cash flows in €. The latest twelve month free cash flow is about €951.8 million. Analysts provide specific free cash flow estimates for the next few years, and from there Simply Wall St extrapolates projections, including an estimate of €1,523 million in free cash flow for 2029 and further values out to 2035.

    Bringing all of those projected cash flows back to today using a discount rate gives an estimated intrinsic value of €55.49 per share. Compared with the recent share price of €10.81, the model implies the stock is about 80.5% undervalued based on these cash flow assumptions.

    Result: UNDERVALUED

    Our Discounted Cash Flow (DCF) analysis suggests Air France-KLM is undervalued by 80.5%. Track this in your watchlist or portfolio, or discover 874 more undervalued stocks based on cash flows.

    AF Discounted Cash Flow as at Feb 2026

    Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Air France-KLM.

    For a company that is generating profits, the P/E ratio is a straightforward way to see what you are paying for each euro of earnings. It ties directly to the bottom line, which many investors focus on when they compare opportunities.

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  • Opening the market: Saudi Arabia's amended foreign ownership rules come into effect – Dentons

    1. Opening the market: Saudi Arabia’s amended foreign ownership rules come into effect  Dentons
    2. ViewTrade Holding and Yaqeen Capital Announce Strategic Partnership to Democratize Access to the Saudi Market for Global Retail Investors  Yahoo Finance
    3. High hopes as Saudi exchange prepares to welcome foreigners  Arabian Gulf Business Insight | AGBI
    4. How Regulation and Investor Protection Work in Saudi Arabia’s Financial Markets  OCNJ Daily
    5. Saudi market reforms unlock billions, strengthening IPO exit routes  PitchBook

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  • Nvidia boss insists ‘huge’ investment in OpenAI on track

    Nvidia boss insists ‘huge’ investment in OpenAI on track

    Nvidia CEO Jensen Huang insists the US tech giant is going to make ‘a huge investment in OpenAI’ (Patrick T. Fallon) · Patrick T. Fallon/AFP/AFP

    Nvidia chief executive Jensen Huang has insisted the US tech giant will make a “huge” investment in OpenAI and dismissed as “nonsense” reports that he is unhappy with the generative AI star.

    Huang made the remarks late Saturday in Taipei after the Wall Street Journal reported that Nvidia’s plan to invest up to $100 billion in OpenAI had been put on ice.

    Nvidia announced the plan in September to invest $100 billion in OpenAI, building infrastructure for next-generation artificial intelligence.

    The Wall Street Journal, citing unnamed sources, said some people inside Nvidia had expressed doubts about the deal and that the two sides were rethinking the partnership.

    “That’s complete nonsense. We are going to make a huge investment in OpenAI,” Huang told journalists, when asked about reports that he was unhappy with OpenAI.

    Huang insisted that Nvidia was going ahead with its investment in OpenAI, describing it as “one of the most consequential companies of our time”.

    “Sam is closing the round, and we will absolutely be involved in the round,” Huang said, referring to OpenAI chief executive Sam Altman.

    “We will invest a great deal of money, probably the largest investment we’ve ever made.”

    Nvidia has come to dominate spending on the processors needed for training and operating the large language models (LLM) behind chatbots like OpenAI’s ChatGPT or Google Gemini.

    Sales of its graphics processing units (GPUs) — originally developed for 3D gaming — powered the company’s market cap to over $5 trillion in October, although the figure has since fallen back by more than $600 billion.

    LLM developers like OpenAI are directing much of the mammoth investment they have received into Nvidia’s products, rushing to build GPU-stuffed data centres to serve an anticipated flood of demand for AI services.

    joy-amj/mtp

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  • The AI Boom Is Coming for Apple’s Profit Margins – The Wall Street Journal

    1. The AI Boom Is Coming for Apple’s Profit Margins  The Wall Street Journal
    2. Apple can’t secure enough chips as iPhone demand surges, memory prices rise  CNBC
    3. On Potential Price Hikes, Tim Cook Doesn’t Want to ‘Speculate’  Barron’s
    4. Apple stock price rises after earnings beat and upbeat forecast — AAPL investors watch chip crunch  TechStock²
    5. Uncertainty remains around memory costs for Apple, says Morgan Stanley’s Erik Woodring  MSN

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  • Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons

    Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons

    After months of speculation, US President Donald Trump confirmed he will be nominating Kevin Warsh as the next chair of the US Federal Reserve. The appointment has been closely watched in the context of Trump’s ongoing conflict with the Fed and its current chairman Jerome Powell.

    The immediate reaction to the announcement was a significant crash in gold and silver markets. After months of record highs and stretched valuations, spot prices for gold and silver dropped 9% and 28% respectively after the announcement. The US stock market also fell, with major indexes all reporting modest losses.

    However, in the context of concerns over Trump’s interference with the Fed, the market crash can ironically be understood as an early vote of confidence in Warsh’s independence and suitability for the role.

    Understanding why requires the context of Trump’s ongoing conflict with the Federal Reserve, and the importance of central bank independence to our current global financial system.

    Trump’s war with the Fed

    The last year has seen Trump in an unprecedented conflict with the Federal Reserve.

    Trump appointed current Chairman Jerome Powell back in 2017. However, the relationship quickly soured when Powell did not cut interest rates as quickly as Trump wanted. In characteristically colourful language, Trump has since called Powell a “clown” with “some real mental problems”, adding “I’d love to fire his ass”.

    The war of words descended into legal threats. Trump’s Justice Department announced an investigation into Federal Reserve Governor Lisa Cook over alleged fraud in historical mortgage documents. Then last month, in a shocking escalation the Justice Department opened a criminal investigation into Powell relating to overspending in renovations of the Federal Reserve offices.

    Federal Reserve Chairman Jerome Powell has been targeted by President Trump for not slashing rates.
    Shawn Thew/EPA

    Both sets of allegations are widely viewed as baseless. However, Trump has tried to use the investigation as grounds to fire Cook. The case is currently before the Supreme Court.

    Powell has hit back strongly at Trump, saying the legal threats were

    a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.

    Powell received support from 14 international central bank chiefs, who noted “the independence of central banks is a cornerstone of price, financial and economic stability”.

    Historically, presidential interference with the Fed was a major cause of the stagflation crisis in the 1970s. More recently, both Argentina and Turkey have experienced significant financial crises caused by interference with central bank independence.

    Who is Kevin Warsh?

    Kevin Warsh is a former banker and Federal Reserve governor, who previously served as economic advisor to both President George W Bush and President Trump.

    Originally Trump seemed likely to favour the current director of Trump’s National Economic Council, Kevin Hassett, for the job. However, Hassett was widely viewed as being too influenced by Trump, intensifying fears about Fed independence.

    Warsh appears more independent and brings a reputation as an inflation “hawk”.

    What is an inflation hawk?

    The Federal Reserve is responsible for setting US interest rates. Put simply, lower interest rates can increase economic growth and employment, but risk creating inflation. Higher interest rates can control inflation, but at the cost of higher unemployment and lower growth.

    Getting the balance right is the central role of the Federal Reserve. Central bank independence is essential to ensure this delicate task is guided by the best evidence and long-term needs of the economy, rather than the short-term political goals.

    An inflation “hawk” refers to a central banker who prioritises fighting inflation, compared to a “dove” who prioritises growth and jobs.

    From Warsh’s previous time at the Federal Reserve, he established a strong reputation as an inflation hawk. Even in the aftermath of the global financial crisis of 2008, Warsh was more worried about inflation than jobs.

    Given Trump’s past conflict with Powell around cutting interest rates, Warsh might seem a curious choice of candidate.

    More recently though, Warsh has moderated his views, echoing Trump’s criticism of the Fed and demands for lower interest rates. Whether this support will continue, or if his hawkish tendencies return leading to future conflict with Trump, remains to be seen.

    The market reaction

    The crash in gold and silver, and decline in stock markets, suggests investors view interest rate cuts as less likely under Warsh than alternative candidates.

    Gold and silver prices typically rise in response to instability or fears of inflation.

    The previous record highs were driven by many factors, including global instability, concerns over Fed independence, and a speculative bubble.

    That Warsh’s appointment has triggered a market correction in precious metals means investors expect lower inflation, and greater financial stability. The US dollar trading higher also supports this view.



    Read more:
    Silver and gold hit record highs – then crashed. Before joining the rush, you need to know this

    The credibility of the Fed is at stake

    The past month has seen much discussion of the changing world order. Canadian Prime Minister Mark Carney recently decried the end of the international rules-based order and called for a break from “American hegemony”.

    The global dominance of the US dollar is a crucial plank of US economic hegemony. Though Trump clearly remains sceptical of central bank independence, his appointment of Warsh suggests he recognises the importance of retaining the credibility of the US currency and Federal Reserve.

    Whether that recognition can continue to temper Trump’s instinct to interfere with the setting of interest rates remains to be seen.

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  • Early detection of aberrant cell fate and repair using circulating progenitor cells in patients with heterotopic ossification

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  • Is Core Natural Resources (CNR) Still Attractive After A Strong Multi‑Year Share Price Run?

    Is Core Natural Resources (CNR) Still Attractive After A Strong Multi‑Year Share Price Run?

    Make better investment decisions with Simply Wall St’s easy, visual tools that give you a competitive edge.

    • If you are wondering whether Core Natural Resources at around US$95 per share still offers value, you are not alone. This article is here to help you weigh what the current price might be implying.

    • The stock has seen a 3.9% decline over the last week, while returns sit at 7.8% over 30 days, 6.1% year to date, 6.2% over 1 year, 72.8% over 3 years and a very large gain over 5 years.

    • Recent coverage has focused on Core Natural Resources as an energy name that has already moved a long way over several years. This naturally raises questions about how much optimism is already in the share price. That backdrop is useful context as we look at whether the current valuation still makes sense after such a strong long term run.

    • Our valuation summary currently gives Core Natural Resources a 5 out of 6 valuation score. Next we will walk through the main valuation approaches behind that result, then finish with a way to think about value that can add another layer to your analysis.

    Find out why Core Natural Resources’s 6.2% return over the last year is lagging behind its peers.

    A Discounted Cash Flow, or DCF, model estimates what a company could be worth today by projecting its future cash flows and discounting them back to the present. It is essentially asking what all those future dollars are worth in today’s terms.

    For Core Natural Resources, the model used is a 2 Stage Free Cash Flow to Equity approach. The latest twelve month Free Cash Flow is about $61.6 million. From there, analysts and internal estimates project annual Free Cash Flow out over the next decade, including $797 million in 2026 and $690.2 million in 2027, with later years extrapolated rather than based on direct analyst forecasts.

    When all those projected cash flows are discounted back, the DCF model points to an estimated intrinsic value of about $260.34 per share. Compared with the current share price around $95, this implies the stock is about 63.4% undervalued according to this method.

    Result: UNDERVALUED

    Our Discounted Cash Flow (DCF) analysis suggests Core Natural Resources is undervalued by 63.4%. Track this in your watchlist or portfolio, or discover 868 more undervalued stocks based on cash flows.

    CNR Discounted Cash Flow as at Jan 2026

    Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Core Natural Resources.

    For companies that are already generating revenue, the P/S ratio is a useful way to gauge what investors are willing to pay for each dollar of sales, especially when earnings are less meaningful or volatile.

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  • Bitcoin dips below $78,000 after silver selloff

    Bitcoin dips below $78,000 after silver selloff

    Bitcoin signage in Times Square in New York, Dec. 9, 2025.

    Michael Nagle | Bloomberg | Getty Images

    Bitcoin, Ethereum, and Solana slumped on Saturday as retail traders digested a busy market week that saw wild swings in commodities and a long-awaited announcement by President Donald Trump on his choice for the next Federal Reserve chairman.

    In afternoon trading, Bitcoin, the ⁠world’s largest cryptocurrency ‍by ‍market ‍value, sank below $78,000, down 7.6%. Ethereum slid about 11% to $2,382.57, while Solana lost 13% at $101.91.

    The slide in crypto comes in the wake of Trump’s selection of Kevin Warsh to lead the Fed, which bolstered the U.S. dollar as it eased concerns about the central bank’s independence. Dollar strength may reduce bitcoin’s appeal among investors as an alternative currency.

    If confirmed by the U.S. Senate, Warsh would replace sitting Chairman Jerome Powell. Powell’s current term as chair ends in May. Trump has criticized Powell — particularly about his unwillingness to reduce interest rates — almost since the Fed chair took the job in 2018.

    The slide in crypto is the latest blow to retail investors, who were buffeted by a sharp selloff in spot silver on Friday, the worst day for the market since March 1980.

    Spot silver was down 28% at $83.45 an ounce, trading near its lows of the day. Silver futures plummeted 31.4% to settle at $78.53.

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  • Waymo finalises $16bn funding round at $110bn valuation

    Waymo finalises $16bn funding round at $110bn valuation

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    Waymo is close to finalising a $16bn funding round that will more than double the value of Google’s self-driving car business to $110bn, bringing in several new investors as it prepares to expand globally and fend off competition from Elon Musk.

    Google’s parent company Alphabet, which incubated the start-up in its X labs, will contribute more than three-quarters of the amount raised, according to four people familiar with the process.

    New participants include Silicon Valley venture capital firm Dragoneer and Sequoia Capital, as well as Yuri Milner’s DST Global, the people said. Existing investor Andreessen Horowitz will put in more money and another existing investor, Abu Dhabi’s sovereign fund Mubadala, will contribute hundreds of millions more.

    Waymo’s annual recurring revenue — a measure of expected revenue from subscriptions commonly used by start-ups — has grown to more than $350mn and the funding round was three times oversubscribed, the people added.

    “While we don’t comment on private financial matters, our trajectory is clear: with over 20mn trips completed, we are focused on the safety-led operational excellence and technological leadership required to meet the vast demand for autonomous mobility,” Waymo said.

    Andreessen, Dragoneer, DST, Mubadala and Sequoia declined to comment.

    Waymo has established itself as the leader in the robotaxi market, having recorded more than 125mn fully autonomous miles on US roads with few related safety incidents. Waymo says it expects to host 1mn rides per week this year in cities including San Francisco, Los Angeles, Phoenix and Miami.

    While the main way to hail a ride is through its own app, it has also partnered with Uber in secondary markets such as Austin and Atlanta.

    Alphabet is raising more cash to help fund its rollout across the US, including New York, and last year started testing in foreign cities such as London and Tokyo amid growing competition from Musk’s Tesla and China’s Baidu.

    Waymo’s vehicles — which use a combination of cameras, laser-based Lidar sensors and detailed street maps — are classed as level four autonomous and require no driver or active supervision. It is preparing to expand from Jaguar I-Pace SUVs to Hyundai Ioniq 5 models and a larger van made by China’s Zeekr to cut costs.

    Its main rival is Tesla, which last year started offering a “robotaxi” service in Austin, Texas, with the eventual aim of allowing the millions of vehicles it has sold to be rented out to the service when not in use. It is also developing a dedicated two-seat Cybercab without a steering wheel that it says will enter production this year.

    However, Tesla vehicles rely only on cameras without Lidar, which has led to persistent questions about safety. The company lost a lawsuit in Florida and was ordered to pay $243mn in damages after a fatal accident involving its autopilot software.

    Tesla’s “full self-driving” technology is only classed as level two autonomy — which requires the driver to pay attention at all times — and its robotaxi service in Austin still requires a safety observer in the car or a trailing vehicle.

    The autonomous driving company started as a “moonshot” experiment in Google’s X lab in 2009, and was spun out in 2016.

    Waymo last raised $5.6bn in a funding round in October 2024 that valued it at more than $45bn. Andreessen Horowitz, Silver Lake, Tiger Global and T Rowe Price were among the largest investors.

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