Clear market notes built around the JSE, the rand, and what matters locally.

2026-10-13 12:30 • The Motley Fool Positive Axe Cap view: Selective

Apple's services segment, despite representing only 28% of revenue, accounts for 42% of gross profit due to superior 75.6% margins compared to products' 40.1%. While services revenue grew 12% year-over-year in Q3, it declined sequentially from Q2, warranting monitoring. With a $4.9 trillion market cap and 35x forward earnings valuation, Apple is positioned as a steady compounder rather than a growth stock.

Axe note: Apple's services deliver outsized profits, yet growth signals need watching.

2026-10-13 12:17 • The Motley Fool Positive Axe Cap view: Selective

The article compares Moderna and Vertex Pharmaceuticals as investment options for 2026. Moderna is expanding its mRNA platform into RSV and oncology but faces profitability challenges with a $2.8B net loss in FY2025 and 39.2% revenue decline. Vertex dominates the cystic fibrosis market with $12.1B revenue, 32.7% net margins, and $3.2B free cash flow, while diversifying into gene therapy and pain management. The author recommends Vertex for its established profitability and growing pipeline, though acknowledges Moderna's long-term platform potential.

Axe note: Vertex’s strong profits and pipeline diversification make it a safer pick than Moderna’s long-shot mRNA bets.

2026-10-13 12:15 • The Motley Fool Positive Axe Cap view: Selective

Coca-Cola and PepsiCo present different investment profiles for 2026. Coca-Cola offers superior profitability with a 27.3% net margin and strong historical returns (92% over 5 years), but trades at a premium valuation (27x P/E). PepsiCo provides better value with a lower P/E ratio (15x), higher dividend yield (4.6%), and diversified food/beverage portfolio, but faces commodity pressures and lower profitability margins (8.8% net margin). The choice depends on investor priorities: growth and profitability favor Coca-Cola, while value and income favor PepsiCo.

Axe note: Two global beverage giants with contrasting profiles—profit versus yield, premium versus value—offer South African investors distinct bets.