Sony Group Corporation

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Сильный индекс, без изменений. Рынок на стороне быков.

Strong index, flat. The market is on the bulls' side.

Средний индекс, значительно вырос. Увеличился приток средств в лонги.

Medium index, significantly up. The inflow of funds into longs has increased.

Key Points
Once AI can churn out endless songs and videos, the companies that help people choose what to watch and listen to will gain the most.
Two companies stand out as the clearest winners of the surge of AI-generated content.
In creative tools, the software people already use may matter more than whoever builds the best AI model.
Famous characters and classic song catalogs land on the diluted side, because AI is wearing down the walls that made them so valuable.
How We Got Here
On Dec. 11, 2025, Disney (NYSE:DIS) agreed to license more than 200 characters to Sora, OpenAI's AI video app, for three years and to invest $1 billion in OpenAI. On the evening of March 23, 2026, roughly 30 minutes after the two teams finished a working meeting, OpenAI told Disney it was shutting Sora down entirely.
It announced the shutdown publicly the next day. Disney walked away, and no money ever changed hands. We keep coming back to that half-hour because it shows how quickly a big artificial intelligence (AI) partnership can vanish.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
AI is already cutting production costs. Big-budget productions often spend 20% to 40% of their budgets on visual effects and post-production, and that's the first cost AI cuts. If you've built a career in visual effects, that line item is your paycheck. Netflix (NASDAQ:NFLX) has already used generative AI to make 17 minutes of its docuseries The American Experiment "twice as fast and at half the cost."
In music, the flood has already arrived. At the June peak, more than half of the daily uploads to music-streaming service Deezer, roughly 90,000 tracks a day, were AI-generated. If you're a musician, every new song you release has to compete with that. Listeners, at least, mostly aren't choosing the AI tracks. Fully AI-generated music accounts for just 1% to 3% of streams on Deezer, and Deezer says most of that listening is fraud.
The Assets AI Can't Reproduce
So, who comes out ahead of the AI revolution in the entertainment sector? We'd ask one question of any media company: What does it own or do that becomes more valuable when AI makes content cheap to generate?
A company in the appreciating category owns something that AI abundance makes scarcer relative to demand. That could be a curation layer, which helps people with limited time choose from an endless supply. It could be an ad graph, the user data behind ad targeting, which improves with every bit it collects. Or it could be a workflow already installed on a million desks.
A company in the diluting category is counting on the flood staying contained. It wins only if its brand or pricing power holds up against rivals operating at a fraction of the cost.
Scorecard: Which Assets Appreciate, Which Get Diluted
These are some of the public companies with the most riding on that question.
Appreciating
Netflix (NASDAQ:NFLX) collects its own viewing data on more than 325 million paid memberships. It has disrupted itself three times. In March 2026, it paid $587 million for InterPositive, Ben Affleck's AI filmmaking start-up. A 33% operating margin in the second quarter of 2026 gives Netflix the cash to keep buying its way to the front of every new wave.
Spotify (NYSE:SPOT) has 777 million monthly active users and close to two decades of data on individual tracks. Every track in the daily AI flood makes Spotify's knack for steering listeners toward songs they'll finish a little more valuable. If you've ever skipped song after song hunting for one you actually like, you already know why.
Appreciating With Caveats
Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) owns YouTube, which is forecast by research firm eMarketer to pull in roughly $9 billion of U.S. connected-TV (streaming TV) ad revenue in 2026. It also owns Veo and Gemini's image model, two of the leading AI video and image generators.
That means Alphabet collects on both sides: from the platform where AI content lands and from the tools people use to make it. In September, a federal judge declined to break up Google's adtech business, ordering behavioral fixes and a six-year monitor instead. Google has said it will appeal the underlying ruling.
Meta Platforms (NASDAQ:META) runs the largest AI-optimized social ad graph in the world. In September 2025, it launched Vibes, a feed of AI-generated short videos, on the belief that synthetic video will go mainstream. That's far from certain. If advertisers ever start paying less for AI-made inventory than for human-made content, Meta would feel it most because it distributes more of that content than anyone else.
Adobe (NASDAQ:ADBE) owns Creative Cloud, its suite of design apps that includes Photoshop, and the huge base of customers already working in it. That base matters more now that the top AI image and video generators are roughly interchangeable.
Adobe's annual recurring revenue from AI-first products passed $650 million last quarter, up more than 150% year over year. A new CEO, Anil Chakravarthy, takes over on Dec. 1. The thesis depends on Adobe pressing that distribution advantage faster than the models commoditize.
Walt Disney (NYSE:DIS) owns Mickey Mouse, Marvel, Pixar, and Star Wars, and no AI company can legally copy most of them. Keeping it that way now takes lawyers. Disney sued image generator Midjourney in June 2025, and shortly before signing its OpenAI deal, it sent Google a cease-and-desist letter accusing the tech giant of widespread copyright infringement. That's what counting on the flood staying contained looks like.
Meanwhile, AI is shrinking the edge Disney's budgets used to buy. Few rivals could afford the visual effects that make a Marvel movie look like a Marvel movie, and that's the cost AI cuts first. Disney's first big AI licensing deal died with Sora, which was reportedly burning around $1 million a day, and AI companies losing money that fast make shaky customers. Disney can still win, but only the way the diluting side wins, with a brand strong enough to hold up against rivals operating at a sliver of its cost.
The best reason to own Disney today is its parks, cruise ships, and merchandise business, which together earned more than half of its operating profit last quarter. That's a separate bet from the one this article is about.
Universal Music Group (OTC:UMGNF), Warner Music Group (NASDAQ:WMG), and Sony Music, part of Sony Group (NYSE:SONY), own the catalogs behind most of the songs people stream. In 2024, all three sued AI song generators Suno and Udio, arguing that machine-made tracks would "substantially dilute the royalty pools" paid to artists.
By late 2025, Universal had settled with Udio, and Warner had settled with both. Each settlement came with a licensing deal. So, Suno, one of the companies the labels accused of diluting their business, now trains on licensed label music.
The licensing money is still too small to move the results. Take out Downtown, an artist-services company Universal bought in February 2026, and Universal's second-quarter revenue growth drops from 13% to about 6% in constant currency. The royalty hit from AI is small, too, for now. One big reason is that curators keep AI songs out of listeners' way.
Deezer strips them from its recommendations and playlists, and in a survey Deezer commissioned, 97% of people couldn't tell AI music from human-made music in a blind test. That leaves the labels' protection in the hands of the streaming services. In music, the power is shifting to whoever decides what plays next, and for hundreds of millions of listeners, that's Spotify.
The Bottom Line
Both Netflix and Spotify, the clearest appreciating companies on our list, own curation assets that gain value with every new wave of AI content. Netflix has shown it can reinvent itself three times over. Spotify built the taste engine that other companies' AI floods now need. Disney and the major labels land on the diluted side. Their characters and catalogs still matter, but AI keeps lowering the walls around them, and the licensing money meant to make up the difference is too small or too shaky to count on.
With the cost of generating content heading toward zero, the companies worth owning are the ones sitting on something AI can't reproduce.
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This article was created using Large Language Models (LLMs) based on The Motley Fool's insights and investing approach. It has been reviewed by our AI quality control systems. Since LLMs cannot (currently) own stocks, it has no positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Adobe, Alphabet, Meta Platforms, Netflix, Spotify Technology, and Walt Disney. The Motley Fool recommends the following options: long January 2028 $330 calls on Adobe and short January 2028 $340 calls on Adobe. The Motley Fool has a disclosure policy.
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As AI Turns Media on Its Head, the Curators Win

Key Points
The Dow rose 0.8% while the Nasdaq Composite gained 0.5% and the S&P 500 0.4%.
Microsoft jumped 4.1% and contributed 120 Dow points after repositioning Copilot as a pure enterprise product.
Oil dropped after Iran offered to reopen the Strait of Hormuz within seven days.
Stocks rose Friday, with the Dow Jones Industrial Average (DJINDICES: ^DJI) leading. Microsoft (NASDAQ: MSFT) decided it doesn't want to build your personal AI assistant after all, and investors loved it. Meta (NASDAQ: META) absolutely wants to build your personal AI assistant, and the Muse maker had a worse morning.
The Dow rose 0.8% as of 12:49 p.m. ET. The Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 0.5%, and the S&P 500 (SNPINDEX: ^GSPC) added 0.4%. Nineteen of the Dow's 30 components traded higher.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Microsoft gave up on consumer AI to investor applause
Microsoft was the leading driver of the major indexes' bullish moves this morning. The software giant jumped 4.1% and added 120 Dow points after merging its consumer and workplace Copilot apps into one enterprise product. Translation: Microsoft is ceding the personal chatbot market to OpenAI, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), and Meta so it can focus on a more lucrative customer class.
Meta took the other side of that bet and dropped 3.6%, losing most of Thursday's 4.3% gain. The Facebook and Instagram parent laid out plans to put its Muse agent into AI glasses, previewed a pocket-sized gadget called Charm, and promised more than 100 styles of Muse-driven glasses by year-end. Investors were unimpressed.
In the hardware sector, memory-chip giant SK Hynix (NASDAQ: SKHY) rose 3% after the Taiwanese media outlet DigiTimes reported that the company is in the running for significant memory orders as Sony (NYSE: SONY) assembles the next PlayStation console. Sector rival Micron Technology (NASDAQ: MU) held steady with a 0.2% price drop as investors brace for next week's earnings report.
And this mid-day market review can never ignore the oil trade. The United States Oil Fund (NYSEMKT: USO) dropped 3.2% after Iran's foreign minister, Abbas Araghchi, said the Strait of Hormuz could reopen within seven days and that nuclear talks could restart, provided Washington meets his conditions. Brent crude prices slipped 1% lower to $105 per barrel.
Don't celebrate at the pump just yet
Here's the catch in Araghchi's offer. His conditions are the same as those in the June 17 memorandum of understanding, and the Trump administration has already said it won't return to those terms. That deal also fell apart within weeks of being signed. Araghchi said Iran isn't in a hurry, while acknowledging that a deal before the midterms would probably be better for everyone involved.
Don't expect the pump to catch up quickly either. Regular gas averages $4.49 per gallon today, up roughly 10% in a month and 42% in a year, and diesel is $6.50 per gallon after hitting a record $6.53 on Tuesday. Fuel prices follow crude with a lag, so one day of falling oil doesn't necessarily fix anything at your local gas station right away.
Two Dow gainers had no explanation to speak of. Caterpillar (NYSE: CAT) added 73 points on a 1.5% rise and Sherwin-Williams (NYSE: SHW) contributed 49 more on a 2.6% gain, neither with company news attached. Both are cyclical names that tend to move with the economy rather than their own announcements. And their beefy share prices result in heavy Dow weightings, currently totaling about 13% of the total index score.
Seven days is a short deadline for a war in its seventh month. The market seems to be in an optimistic mode about these discussions, though. Next week brings Micron's earnings, followed by the discussion deadline.
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Anders Bylund has positions in Alphabet and Micron Technology. The Motley Fool has positions in and recommends Alphabet, Caterpillar, Meta Platforms, Micron Technology, and Microsoft. The Motley Fool recommends Sherwin-Williams. The Motley Fool has a disclosure policy.

The Dow Leads Market Indexes Higher as Microsoft Adds 120 Points

Dolby Laboratories, Inc. DLB is expanding its presence across Meta Platforms, Inc.’s META ecosystem as Dolby Atmos and Dolby Vision become available across more devices and platforms. The companies announced the expansion at Meta Connect, bringing new Dolby experiences to Meta AI glasses and Instagram, while also extending support to Meta’s virtual reality devices. The move strengthens Dolby’s reach across entertainment, content creation and social sharing.
Meta AI glasses are the first global consumer device capable of capturing audio in Dolby Atmos. This enables users to record moments with immersive audio and share them on Instagram, helping create a more engaging experience for viewers. The announcement builds on Dolby Vision’s availability on Instagram, which was introduced last year. Dolby has also been expanding Dolby Vision across social media and user-generated content platforms, including Instagram, Facebook and Douyin. The company stated on its third-quarterearnings callthat it is entering new device categories, including smart glasses and video cameras.
Meta’s newest VR device is also set to support Dolby Vision and Dolby Atmos when it launches next year. The technologies are expected to enhance immersive experiences across movies, shows, sports, concerts and other premium virtual reality content. Together, Dolby Atmos and Dolby Vision are designed to provide greater depth, authenticity and emotional engagement across different forms of digital content.
The expansion with Meta adds to Dolby’s broader efforts to grow beyond traditional device licensing. In the third quarter, Meta became a licensee of Dolby’s video distribution patent program covering Facebook, Instagram and WhatsApp. Dolby said the program had attracted 45 licensors and several major streaming companies within its first year.
Dolby continues to see growing adoption of Dolby Atmos and Dolby Vision across devices and use cases. The company expects Dolby Atmos, Dolby Vision and imaging patents revenue to increase roughly 15% year over year in fiscal 2026, supported by broader adoption across its key markets.
Taking a Look at DLB’s Competitors
Sony Group Corporation’s SONY shift toward entertainment, recurring digital services and creator-focused technology drove fiscal first-quarter results. PlayStation’s large active-user base, rising network services revenue and fuller release slate underpin higher gaming earnings. Music benefits from streaming and catalog monetization, while image sensors gain from a richer customer and product mix. Anime expansion through Crunchyroll and group partnerships broadens Sony’s IP reach. Sony raised its full-year sales forecast to ¥12,500 billion from ¥12,300 billion and operating income guidance to ¥1,720 billion from ¥1,600 billion. The net income forecast increased to ¥1,210 billion from ¥1,160 billion, while the operating cash flow outlook remained at ¥1,500 billion.
Sonos Inc. SONO is returning to growth as newer products, international expansion and a more reliable system broaden the value of its ecosystem. Recent results show better revenue momentum while disciplined spending and a sizable cash balance support continued investment and share repurchases. The installer channel and a deeper product pipeline offer additional routes to household growth and repeat purchases. For the fourth quarter of fiscal 2026, SONO expects revenues of $325 million to $355 million, representing 13% to 23% growth. For fiscal 2026, Sonos expects revenue growth of 6% to 8%, or 4% to 6% excluding the extra week.
DLB’s Price Performance, Valuation & Estimates
Shares of DLB have lost 16.9% in the past year compared with the Zacks Audio Video Production industry’s decline of 22.1%.
In terms of the forward 12-month Price/Sales ratio, DLB is trading at 3.74, higher than the industry’s multiple of 1.66.
For DLB, earnings estimates for the current year have been unchanged in the past 60 days.
Image Source: Zacks Investment Research
Dolby currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Dolby Expands Meta Partnership With Atmos and Vision Across Devices

Key Points
TSMC's growth rate has been improving due to the healthy demand for AI accelerators.
The company could outperform analysts' expectations and surge significantly over the next three years.
Artificial intelligence (AI) infrastructure spending isn't slowing down, and that's not surprising, as major hyperscalers and AI companies need to fulfill massive contractual backlogs.
Oracle, for instance, recently reported a contractual backlog of a whopping $664 billion. Meanwhile, Alphabet notes that its Google Cloud backlog hit a whopping $514 billion in the second quarter. These massive numbers explain why market research firm Dell'Oro Group projects AI infrastructure spending to exceed $3 trillion by 2030. For comparison, Goldman Sachs expects over $1 trillion in AI investments this year.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Dell'Oro Group's latest estimate is almost double the forecast it issued in January this year. This is great news for Micron Technology and Sandisk, two companies that have benefited significantly from heavy AI data center spending. Micron and Sandisk manufacture compute and storage memory that's solving a critical bottleneck in AI data centers by quickly transporting huge data sets to accelerator chips.
Not surprisingly, both semiconductor stocks have surged impressively over the past year. However, investors have been rotating out of memory stocks lately. Concerns about a potential oversupply in the memory market and the already impressive margins of Micron and Sandisk are the reasons why investors seem to be losing confidence in memory stocks.
That's why it is a good time to take a closer look at Taiwan Semiconductor Manufacturing (NYSE: TSM), another critical cog in the AI infrastructure ecosystem. Let's see why this foundry giant could outperform Micron and Sandisk as AI infrastructure spending accelerates.
AI accelerator demand will give TSMC's growth a nice shot in the arm
TSMC is a pure-play foundry company that manufactures chips for other companies. Its customers include Nvidia, Advanced Micro Devices, Qualcomm, Sony, Apple, and many others. TSMC serves multiple industries, including data centers, smartphones, personal computers, and automotive.
AI is currently TSMC's biggest catalyst. The company noted in April that it expects its AI accelerator revenue to increase at a high 50% compound annual growth rate (CAGR) through 2029. However, management noted on the July earnings call that it expects AI accelerator revenue to grow faster than previously estimated. Though TSMC didn't provide a specific number, it seems its AI revenue CAGR could accelerate into the 60%+ range.
A closer look at the company's August revenue growth tells us just why that's likely to be the case. TSMC posted a 53% year-over-year increase in revenue last month. This was well above the 39% revenue growth the company has clocked in the first eight months of 2026. Nvidia CEO Jensen Huang estimates that AI infrastructure spending could hit a range of $3 trillion to $4 trillion by 2030. That's well above the $800 billion capex that TSMC customer Nvidia expects from the top five hyperscalers in 2026.
So, TSMC's AI accelerator revenue is likely to increase at a robust pace in the long run, lifting the company's overall growth rate in the process. Analysts have gradually become bullish on TSMC's revenue growth rate over the next three years.
The company's top line could increase by 43% this year, according to consensus estimates on Yahoo! Finance. The chart above makes it clear that the forecast for 2027 and 2028 points to robust double-digit growth, though I won't be surprised to see TSMC exceeding expectations owing to the robust AI infrastructure spending environment.
Moreover, TSMC stands to capitalize on the growth in other niches. For instance, the company can benefit from a rebound in the global smartphone market starting in 2028, when shipments could increase by 5%. Counterpoint Research estimates that smartphone shipments could drop 14% in 2026 and 1% next year due to high component costs. The pick-up in smartphone sales in 2028 would enhance TSMC's growth opportunity, considering that it counts the likes of Apple, Qualcomm, and MediaTek as customers.
Also, TSMC controls 72.5% of the global foundry market, according to market research firm TrendForce. This gives the company impressive pricing power, which is why it is anticipated to increase prices by up to 10% from 2027. This bodes well for TSMC's bottom line.
The stock is poised to skyrocket
TSMC stock has appreciated 36% in 2026, underperforming Sandisk and Micron by a huge margin. However, that could change owing to the company's impressive earnings growth potential. Analysts expect a 59% spike in TSMC's earnings in 2026. However, its growth rate is anticipated to drop over the next couple of years.
Don't be surprised to see TSMC outpacing analysts' expectations, fueled by the rapid growth of the AI accelerator market and its expansive client base. Given that TSMC trades at just 20 times forward earnings, a discount to the tech-focused Nasdaq-100 index's forward earnings multiple of 24.5, its stock could jump significantly as its growth accelerates.
Assuming TSMC's earnings reach $28.33 per share in 2028, and it trades at 30 times earnings at that time, a premium that a potentially stronger increase in earnings could justify, its stock price will jump to $850. That's just over double where this AI stock is right now.
So, investors looking to capitalize on the next leg of the AI infrastructure boom and hunting for an alternative to Micron and Sandisk would do well to take a closer look at TSMC before it steps on the gas.
Should you buy stock in Taiwan Semiconductor Manufacturing right now?
Before you buy stock in Taiwan Semiconductor Manufacturing, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Taiwan Semiconductor Manufacturing wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $420,109!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,303,689!*
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*Stock Advisor returns as of September 17, 2026.
Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Apple, Goldman Sachs Group, Micron Technology, Nvidia, Oracle, Qualcomm, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.

1 AI Stock Poised to Outperform Micron and Sandisk on the Next Infrastructure Surge

An updated edition of the July 22, 2026 article.
Streaming has moved beyond the race for subscriber additions and is increasingly becoming a contest for engagement, advertising dollars and content discovery. The shift is visible in viewing trends. Nielsen reported that streaming captured 48.2% of U.S. ad-supported TV viewing in the second quarter of 2026, widening its lead over cable and broadcast. This underscores how connected-TV platforms are gaining importance for both audiences and marketers.
Against this backdrop, Alphabet Inc. GOOGL, Amazon.com, Inc. AMZN and Sony Group Corporation SONY warrant attention as streaming develops into a broader ecosystem spanning distribution, advertising, premium programming and direct-to-consumer services. Their varied exposure provides investors with different ways to participate in the migration of viewing time and ad spending toward digital video while also benefiting from demand for differentiated entertainment experiences.
Live sports should remain a major catalyst for engagement. Gracenote data showed sports offerings across five leading subscription streaming services jumped 52% year over year in February 2026. FAST is also expanding rapidly, with individual sports games and events distributed across free ad-supported streaming services rising 37.5% year over year in the third quarter, highlighting the growing importance of sports beyond traditional pay-TV.
The outlook remains constructive as connected-TV usage, ad-supported services and global appetite for premium and niche content expand. Artificial intelligence is also becoming increasingly important across the streaming value chain, helping platforms improve content recommendations, audience targeting, ad placement and production efficiency. However, higher sports-rights and programming costs, intense competition, subscriber churn and fragmented viewing habits could pressure returns. Companies that combine compelling content with AI-driven personalization, broad distribution and stronger advertising monetization should be better positioned as the industry matures.
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Amazon’s streaming journey began with Unbox in 2006, followed by unlimited Prime streaming in 2011. Today, Prime Video has evolved into an entertainment platform spanning originals, licensed programming, live sports, rentals, third-party subscriptions and more than 900 U.S. FAST channels.
The investment case has strengthened as Prime Video moves beyond being a Prime-retention tool. CEO Andy Jassy said in May 2026 that the business is growing, profitable and still early, suggesting room to expand engagement and monetization over time.
Live sports should remain a major growth driver. Prime Video carries NFL Thursday Night Football, NBA, WNBA, NASCAR, the Masters and other rights across markets. These events attract viewing, while Amazon’s shopping, browsing and streaming signals can make advertising inventory more measurable and valuable.
Content ownership adds another layer of strength. AMZN expanded its content ownership, most notably through the $8.45 billion MGM transaction. MGM brought more than 4,000 films and 17,000 TV episodes, while Amazon MGM Studios now has creative control of James Bond. A larger theatrical pipeline can eventually feed Prime Video and could lower dependence on licensed hits over time.
International expansion adds further upside for this Zacks Rank #2 (Buy) company. Amazon is integrating MX Player into Prime Video in India and plans to invest more than $2 billion in Latin America from 2027 through 2030. Combined with sports, owned franchises and commerce-linked advertising, Prime Video looks positioned to become a larger long-term profit engine. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Sony’s streaming history stretches back to 2006, when Sony Pictures acquired video site Grouper. Its current direct-to-consumer strategy expanded through SonyLIV in India, Sony’s 2017 acquisition of Funimation and the 2021 purchase of Crunchyroll, which became Sony’s global anime-streaming platform.
Crunchyroll is now the strongest growth engine in Sony’s streaming portfolio. Paid subscribers surpassed 21 million by March 2026, and Sony said in July that subscriptions continued growing beyond that level. This momentum shows the service still has room to add paying users.
The addressable market remains large. Sony estimates more than 1.5 billion online streaming viewers were watching or interested in anime in 2025 across measured markets, with penetration still low. This creates a long runway for Crunchyroll to convert more anime viewers into recurring subscribers worldwide.
The platform is also becoming more competitive as its streaming library expands. By March 2026, Crunchyroll offered more than 50,000 episodes, subtitled and dubbed in 13 languages. A deeper, localized catalog should support discovery and retention while making the service more relevant internationally.
For investors, Sony’s streaming thesis is attractive. Crunchyroll combines subscriber momentum, low penetration and a broad international catalog, while SonyLIV adds a general-entertainment streaming presence in India. Together, these services give Sony multiple paths to expand recurring digital revenues and build a larger streaming business over time. SONY holds a Zacks Rank #2.
Alphabet’s streaming roots trace to Google’s 2006 acquisition of YouTube, launched a year earlier. YouTube has since evolved from a user-video site into a broad platform spanning long-form video, Shorts, music, livestreams, connected-TV viewing, subscriptions and live sports.
The biggest long-term advantage is audience scale across screens. Nielsen reported YouTube at 13.8% of total U.S. TV watch time in June 2026, still the largest media distributor. Shorts also averages more than 200 billion daily views, feeding discovery across YouTube’s wider content ecosystem.
Monetization is becoming more diversified. YouTube generated more than $60 billion from advertising and subscriptions in 2025, while management said in second-quarter 2026 that subscriptions are growing faster than ads, led by YouTube Music and Premium. This adds recurring revenues while preserving a powerful advertising engine.
YouTube TV strengthens the thesis further. In 2026, Alphabet rolled out more than 10 lower-priced specialized plans, added ESPN Unlimited directly to YouTube TV on Sept. 1 and expanded Peacock availability through Primetime Channels. Primetime Channels now offers more than 45 services.
YouTube is positioned as both a destination and an aggregator. Its creator supply, living-room reach, sports, subscription options and partner catalog reinforce one another, giving Alphabet several ways to capture rising streaming time and spending. This supports a durable growth runway for GOOGL. It carries a Zacks Rank #3 (Hold).
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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This article originally published on Zacks Investment Research (zacks.com).

Top 3 Streaming Stocks to Ride on Rising Ad and Viewing Trends

Microsoft's MSFT Xbox division is leaning on an unusually dense upcoming release calendar as it works to reverse a multi-quarter sales slide, with the fiscal 2027 slate positioned as the primary lever to lift the gaming business back into growth. At gamescom 2026 in Cologne, held as part of Xbox's 25th-anniversary celebrations, the company showcased 25 upcoming titles across 140 gaming stations, including Call of Duty: Modern Warfare 4, Fable, Gears of War: E-Day, Halo: Campaign Evolved, Forza Horizon 6, Metro 2039 and Alien: Isolation 2. Fable is slated for a Feb. 23, 2027, launch, while the Gears of War: E-Day open beta began on Aug. 6, 2026, giving the portfolio a staggered rollout across the new fiscal year rather than a single release window.
The roster push follows a weak close to fiscal 2026. In the fourth quarter, ended June 30, 2026, total Xbox revenues fell 10% year over year to roughly $4.98 billion, with content and services revenues down 10% and hardware revenues down 13%, marking the segment's softest quarter in more than two years. Xbox operating income declined 14% (15% in constant currency), with margins compressing to 21% amid severance and impairment charges tied to a broader restructuring, including job cuts and the spin-out of four studios under new Xbox leadership. For the full fiscal year, gaming revenues declined 7% to approximately $21.8 billion, even as the platform added more than 200 million new players.
Management has tied the recovery explicitly to content. On theearnings call leadership indicated the company is resetting its content portfolio, platform and operations, and expects Xbox to return to growth in fiscal 2027. Whether the newly unveiled lineup can convert the expanded player base into recovered revenues will depend on execution through the holiday quarter and into early 2027, when several flagship titles are scheduled to ship.
Sony vs. Nintendo: A Contrasting Picture
Microsoft's gaming struggles stand out against rivals Sony SONY and Nintendo NTDOY, both of which posted profit gains in the same April-June 2026 quarter despite softer hardware sales. Sony's PlayStation segment reported operating income up 37% to ¥202 billion, even as PS5 hardware revenues fell, while Nintendo's operating profit more than doubled to ¥142.5 billion despite Switch 2 hardware sales dropping 34.4%. Both Sony and Nintendo leaned on software and digital revenues to offset hardware weakness, whereas Xbox recorded no comparable offset, with content, services and hardware revenues all declining in the same period.
MSFT’s Share Price Performance, Valuation & Estimates
MSFT shares have remained unchanged year to date (YTD). The Zacks Computer – Software industry has declined 5.9% YTD, while the Zacks Computer and Technology sector has appreciated 15.7%.
MSFT’s YTD Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, MSFT stock appears overvalued, trading at a forward 12-month price/earnings ratio of 23.99X, higher than the industry’s 22.86X. MSFT has a Value Score of D.
MSFT’s Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MSFT’s fiscal 2026 earnings is pegged at $19.59 per share. The estimate indicates 9.14% year-over-year growth.
Microsoft Corporation Price and Consensus
Microsoft currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
See Stocks Now >>
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This article originally published on Zacks Investment Research (zacks.com).

Can Xbox's Upcoming Gaming Roster Lift MSFT's Gaming Revenues?

Friday, August 21, 2026
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Dell Technologies Inc. (DELL), Marvell Technology, Inc. (MRVL) and Verizon Communications Inc. (VZ), as well as two micro-cap stocks, Tandy Leather Factory, Inc. (TLF) and Moving iMage Technologies, Inc. (MITQ). These research reports have been hand-picked from roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Ahead of Wall Street
The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.
You can read today's AWS here >>> Pre-Markets Fill Holes Left on Thursday
Today's Featured Research Reports
Dell’s shares have outperformed the Zacks Computer - Micro Computers industry over the past year (+232.3% vs. +43.8%). Per the Zacks analyst, the company is benefiting from strong AI server demand, faster customer deployments and broader growth across traditional servers, storage and commercial PCs. Improving ISG profitability is also supporting cash generation and shareholder returns.
However, an unfavorable AI product mix, memory constraints, competitive pricing and unfavorable foreign exchange are pressuring gross margins. The company also remains exposed to balance-sheet leverage.
(You can read the full research report on Dell here >>>)
Marvell’s shares have outperformed the Electronics - Semiconductors industry over the past year (+243.9% vs. +48.7%). The Zacks analyst believes that the company is benefiting from strong AI-driven data center demand, with custom silicon, interconnect, switching and optics supporting growth. Its expanded NVIDIA partnership and recent acquisitions strengthen its position in hyperscaler infrastructure, while communications demand is recovering.
Yet, profitability remains sensitive to product mix, and the business is concentrated among a limited number of customers. Export controls, tariffs and overseas shipments pose risks, while intense competition could pressure demand and margins.
(You can read the full research report on Marvell here >>>)
Verizon’s shares have underperformed the Zacks Wireless National industry over the last six months (-1.0% vs. +88.1%). The Zacks analyst believes that AT&T faces intense competition in the U.S. wireless market, while high capital requirements and elevated leverage following recent acquisitions continue to constrain financial flexibility.
On the positive side, Verizon is improving customer acquisition, reducing churn and expanding broadband. Its converged offerings, Frontier integration, operating improvements, AI infrastructure initiatives and planned BT joint venture support longer-term growth prospects.
(You can read the full research report on Verizon here >>>)
Tandy Leather’s shares have underperformed the Zacks Retail - Apparel & Shoes industry over the past year (-19.1% vs. -4.2%). The Zacks analyst believes that the company faces thin profitability and limited cushion against tariff-driven sourcing inflation, rising lease obligations and escalating operating expenses. Its reliance on U.S. discretionary spending also leaves the business vulnerable to weaker consumer demand.
Yet, pricing optimization, favorable product mix and stronger community engagement are supporting margins and operating leverage. A debt-free balance sheet, positive cash generation and shareholder-friendly capital allocation provide strategic flexibility.
(You can read the full research report on Tandy Leather here >>>)
Moving iMage’s (MiT) shares have underperformed the Zacks Technology Services industry over the last six months (-12.4% vs. +0.1%). The Zacks analyst believes that the company faces declining cash balances, elevated inventory and working-capital requirements, while project-driven revenue volatility and customer concentration add risk. Unresolved internal-control weaknesses could also weigh on investor sentiment.
However, MiT is benefiting from improving profitability and premium cinema upgrade trends. The DCS acquisition and Alamo Drafthouse agreement strengthen its position in immersive, premium-format theaters and support operating efficiency.
(You can read the full research report on Moving iMage here >>>)
Other noteworthy reports we are featuring today include Sony Group Corp. (SONY), Altria Group, Inc. (MO) and Phillips 66 (PSX).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Verizon (VZ) Rides on Strong Customer Growth, Improving Churn Rate
Featured Reports
Planned Investments, Permian Basin Focus Aid Occidental (OXY)
Per the Zacks analyst Occidental's investments to strengthen infrastructure and strong contribution from Permian Basin operation will drive its performance over the long run.
DSA Business Aids Charles River (CRL) Amid Unfavorable FX
Per the Zacks analyst, the DSA segment holds strong potential for Charles River's long-term growth. Yet, challenges in terms of unfavorable foreign exchange might hurt growth.
Phillips 66's (PSX) Diversified Business Model Aids Growth
Phillips 66's focus on multiple sectors, like refining and midstream, diversifies its earnings & improves resilience. However, its exposure to refining & chemicals cycles concerns the Zacks analyst.
Portfolio Management Aid AGNC Investment (AGNC), Funding Cost Ail
Per the Zacks analyst, AGNC Investment's strategic portfolio repositioning moves cushion it from higher interest rates and prepayments. Yet, high funding costs remains a concern.
American Tower (AMT) Gains From Tower Demand Amid Debt Burden
Per the Zacks analyst, American Tower gains from the network investments by wireless carriers amid growth in wireless data consumption. However, debt burden and customer concentration remain concerns.
Dutch Bros (BROS) Leans on Expansion Amid Rising Costs
Per the Zacks analyst, Dutch Bros' transaction growth, loyalty engagement and expanding store base should support sales. However, higher coffee costs and execution risks remain concerns.
Altria (MO) Benefits From Strategic Pricing Initiatives
Per the Zacks analyst, Altria is benefiting from robust pricing actions. In the second quarter of 2026, higher pricing strategies aided revenues across the Smokeable Products and Oral Tobacco category
New Upgrades
Solid Momentum in Music and G&NS Segment Sales Benefits SONY
Per the Zacks analyst, strength in the Game & Network Services, notably software sales and Music units, is driving Sony's performance. Higher operating income is a key catalyst.
High Demand for Repligen's (RGEN) Product Portfolio Aid Growth
Per the Zacks analyst, Repligen's product franchises are generating significant revenues owing to continued demand. Recent acquisitions to diversify its business are also driving the top line.
Strength in Network Infrastructure Unit Aids EnerSys (ENS)
Per the Zacks analyst, EnerSys' Network Infrastructure segment is driven by strength in data centers, communications and power electronics. Its shareholder-friendly measures are encouraging.
New Downgrades
Rising Expenses & Volatile Cash Flow Weigh on AMERISAFE (AMSF)
Per the Zacks analyst, AMERISAFE's rising expenses are likely to pressure profitability. Also, volatile free cash flow may limit financial flexibility and weigh on the company's performance.
Rising Expenses and Elevated Debt are S&P Global's (SPGI) Headwinds
Per the Zacks analyst, escalating expenses tied to multiple acquisitions continue to pose a headwind to S&P Global's growth. Elevated debt due to increased investments also remains a concern.
Weak OSB Pricing & Housing Market Hurt Louisiana-Pacific (LPX)
Per the Zacks analyst, Louisiana-Pacific is hurting because of unfavorable OSB pricing, weak housing demand and rising input costs. Also, elevated freight costs and operating disruptions add to it.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).

Top Analyst Reports for Dell, Marvell & Verizon Communications

Key Points
TSMC's market cap is now above $2 trillion.
The chip foundry giant is forming a joint venture with Sony to produce next-generation image sensors.
The artificial intelligence (AI) chip craze can't be discussed without including the behemoth Taiwan Semiconductor Manufacturing Company (NYSE: TSM). The third-party chip manufacturer has been one of the standout stocks of the past year, up nearly 80%. That substantial rise has pushed the company's valuation past $2 trillion, but investors are starting to question how long the chip boom will last. Is TSMC too expensive now?
TSMC's growth has been impressive. In the second quarter, its revenue jumped 36% year over year, while net income and diluted earnings per share rose 77.4%. The company's strong free cash flow has given it an enviable balance sheet, and its dividend payouts have more than doubled in the past three years.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Chip demand isn't slowing, and TSMC is also pursuing new opportunities. For example, it's in the process of setting up a joint venture with Sony (NYSE: SONY) to produce next-generation image sensors. That multibillion-dollar collaboration will supply high-performance camera sensors for iPhones and future physical-AI use cases. The duo is targeting mass production by 2029.
The stock isn't cheap, but its valuation metrics are still quite reasonable. The company's forward P/E ratio is just 25, while the trailing P/E ratio is 36. TSMC's five-year PEG ratio is almost exactly 1, implying the stock is fairly priced.
Given the new partnership with Sony and the expectation for continued high chip demand through the second half of this decade, TSMC may not be a bargain, but it is still surely worth buying and holding. No, Taiwan Semiconductor is not too expensive for investors looking to hold it for the long haul.
Should you buy stock in Taiwan Semiconductor Manufacturing right now?
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Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.

Demand for Chips Shows No Signs of Slowing. Is Taiwan Semiconductor Too Expensive Now?

Key Points
A weakening yen has helped to boost the country's exports.
Japan's dependence on foreign oil remains a risk, however.
The U.S. Treasury recently intervened in currency markets to prop up the Japanese yen, which hit a four-month low against other major world currencies.
The Japanese currency has been weakening against the dollar for years and hit a 40-year low against the greenback in July. That's primarily because the Bank of Japan has kept its benchmark interest rate low for years. Global capital tends to flow to countries with higher interest rates, so currency traders have been selling the yen to buy the dollar, pushing the yen lower.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Yet despite the weakening yen, the Japanese stock market is doing very well this year. That market is up about 19% so far in 2026, as measured by the iShares MSCI Japan Index Fund (NYSEMKT: EWJ). That handily beats the S&P 500 index, which is up about 13% year to date.
Several sectors are driving Japan's market higher this year, including technology, financials, basic materials, and industrials, according to Yardeni Research.
Japan is an exporting powerhouse
And while you might think a weakening currency is a sign of a faltering economy, a weaker yen is actually very good for Japanese exporters like Toyota Motor (NYSE: TM), industrial equipment powerhouse Hitachi, and electronics giant Sony Group (NYSE: SONY). Toyota is the world's largest auto manufacturer; it sold more than 11.3 million vehicles last year out of a total of about 96 billion last year.
Japan's economy expanded at an annualized rate of 2.1% in the first quarter, beating expectations. Exports rose 11.5% year over year, driven primarily by a 29% increase in shipments of semiconductor equipment. Tokyo Electron is one of the world's largest manufacturers of chip-making equipment and a very hot stock to boot.
Japan's economy, with a gross domestic product (GDP) of about $4.4 trillion, is the world's fourth largest, behind only the U.S., China, and Germany.
As a result of the weak yen and strong exports and economic growth, I'm very bullish on Japan right now.
There is one major risk facing the country's economy, however: energy. Japan imports about 97% of its oil supply, and about 90% of that comes from the Middle East region. So, supply disruptions and oil price spikes could slow its economy. Japan has increased efforts to source its oil from the U.S., but if the Persian Gulf conflict continues to push oil prices higher, oil will remain more expensive regardless of its source, since it trades on global markets.
That said, I still believe Japanese stocks are worth a look, and the iShares MSCI Japan Index exchange-traded fund (ETF) is a great way to gain exposure to the entire Japanese market.
Should you buy stock in iShares - iShares Msci Japan ETF right now?
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Matthew Benjamin has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Despite the Weakening Yen, Japan's Stock Market Is Outperforming. Here's How to Invest.

Key Points
Investors have been booking profits in memory stocks lately, but this doesn't seem like the right move to make right now.
The incredible earnings growth that Micron and Sandisk are projected to deliver makes them no-brainer buys, given their valuations.
Micron Technology (NASDAQ: MU) and Sandisk (NASDAQ: SNDK) have been among the hottest stocks on the market this year, delivering stunning returns to investors due to their phenomenal revenue and earnings growth.
Micron stock has nearly tripled in 2026 already, while Sandisk has clocked a terrific jump of 489%. However, both memory stocks have recently experienced significant pullbacks. While shares of Micron have retreated 22% after hitting a 52-week high on June 25, Sandisk is down 30% since reaching its 52-week high on June 22.
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However, these pullbacks have nothing to do with the memory market's prospects. Instead, Wall Street is worried that rising memory costs could reduce demand for products such as smartphones and consoles, thereby hurting the margins of companies selling consumer electronics. But it is a pretty well-known fact that the sales of smartphones, personal computers (PCs), and consoles have been declining due to the memory shortage, and this hasn't done anything to dent the prospects of Micron and Sandisk.
As such, the recent pullback in these high-flying growth stocks is a buying opportunity. Let me explain why.
The memory market isn't dictated by smartphones and PCs anymore
There was a time when poor sales of smartphones, PCs, and consoles negatively impacted memory demand, as these devices were the primary consumers of these chips. For instance, Micron's financial performance was woeful in 2022 due to a decline in smartphone and PC sales. Market research firm IDC estimates that smartphone sales in 2026 could drop almost 14%, while PC shipments could shrink by 11.3%.
Additionally, U.S. shipments of Sony's PlayStation 5 console dropped 58% year over year last month, while Xbox units dropped 12%. Ideally, the steep declines in shipments of these consumer devices should have wrecked the memory market, causing oversupply and price declines. However, that hasn't been the case due to artificial intelligence (AI).
AI data centers require faster compute and more storage to run AI workloads, such as training models and running inference applications. AI accelerator chips, such as graphics cards and custom AI processors, need to be fed large data sets quickly so they don't sit idle and waste energy. This is where the incredibly fast high-bandwidth memory (HBM) steps in.
HBM is manufactured by packaging multiple dynamic random-access memory (DRAM) dies vertically, which explains why it offers at least 10x the bandwidth of conventional DRAM, depending on the configuration. So, HBM is ideal for handling AI data center workloads. And because HBM is made by stacking multiple DRAM chips, it uses 3x the wafer capacity of conventional DRAM.
HBM has created a structural change in the memory market. More than half of the DRAM that's manufactured is now used in data centers, according to Counterpoint Research. Also, HBM demand isn't going to slow down any time soon, with Bloomberg Intelligence estimating that this market could clock annual growth of 42% through 2033.
Also, as AI workloads are data-intensive, the demand for NAND flash is also rising at a phenomenal pace. According to McKinsey, shipments of NAND flash-based enterprise solid-state drives (SSDs) could increase at an annual rate of 35% through 2030 in a base-case scenario, primarily due to generative AI adoption.
As a result, it won't be surprising to see shipments of consumer electronics devices remain under pressure going forward, as memory makers scramble to address the requirements of data centers. Moreover, memory industry participants note that the additional capacity they plan to bring online may not be enough to address the shortage.
So, the recent sell-off in Sandisk and Micron doesn't seem justified. But the good news is that investors can now buy these AI stocks at attractive levels.
Buying Micron and Sandisk is a no-brainer right now
Sandisk's latest fiscal 2026 has just ended, and analysts are forecasting that the company's earnings grew by a whopping 2,120% during the year to $66.41 per share. Similarly, Micron's earnings in the ongoing fiscal year are anticipated to jump by 785% to $73.32 per share. The solid prospects of the memory market explain why analysts have become bullish about their prospects and anticipate their terrific growth to continue.
What's more, both stocks are trading at really attractive levels when their stunning earnings growth is considered.
The tech-laden Nasdaq Composite index, for comparison, has an average earnings multiple of 39. Given that the AI-fueled growth of the memory market is poised to continue, it won't be surprising to see Sandisk and Micron delivering the outstanding bottom-line growth that analysts are anticipating.
That's why savvy investors can consider capitalizing on the recent pullback in these two stocks, as it won't be long before they regain their mojo and start soaring once again.
Should you buy stock in Micron Technology right now?
Before you buy stock in Micron Technology, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Micron Technology wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $410,833!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,208,693!*
Now, it’s worth noting Stock Advisor’s total average return is 917% — a market-crushing outperformance compared to 209% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of July 8, 2026.
Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.