1. I am upgrading Abercrombie & Fitch from sell to hold due to strong growth momentum and potential to beat and raise guidance. 2. Despite a poor consumer spending environment, ANF achieved solid comparable store growth, with Abercrombie at 26% and Hollister at 17%. 3. Management's positive outlook and August sales data suggest ANF will significantly exceed 3Q24 guidance.

➀ Wanhua Integrated Circuit, a subsidiary of Jinhua Integrated Circuit, has successfully raised 9.5 billion yuan in funding, becoming a new unicorn in Hefei. The company focuses on display driver chips and other semiconductor products. Jinhua Integrated Circuit, the parent company, will remain the largest shareholder after the financing. ➁ The investment round is led by Agricultural Bank of China Investment and Industrial Bank of China Investment, with a total investment of 5.4 billion yuan. ➃ Hefei's success in attracting investment and fostering an industry cluster is a result of its 'Hefei Model', which involves investing in key industry leaders to attract more companies and create a complete industrial ecosystem.

➀ Tata Sons, the holding company of Tata Group, plans to acquire a 12.65% stake in Tata AutoComp Systems for Rs 2,122 crore; ➁ Currently, Tata Sons holds a 40% stake in Tata AutoComp while Tata Motors owns 26%; ➂ The transaction is expected to be completed before the end of the ongoing financial year.

➀ The spending on 300mm fab equipment is projected to grow by 4% to $99.3 billion in 2024 and further increase by 24% to $123.2 billion in 2025. ➁ China is expected to remain the top spender on 300mm equipment until 2027, investing over $100 billion. ➂ Foundry equipment spending is expected to reach about $230 billion between 2025 and 2027, driven by investments in sub-3nm nodes.

➀ The Chinese Internet Investment Fund has invested in瀚博半导体，a high-tech semiconductor company specializing in high-end GPU chips and full-stack solutions; ➁ The investment signifies a new phase for瀚博半导体 in technology development, market expansion, and industrial upgrading; ➂ 钱军，the founder of瀚博半导体, brings over 25 years of experience in high-end chip design and has held positions in companies like LSI Logic, Cisco, and AMD.

1. Medical Properties Trust (MPW) has been facing negative news recently; 2. The company is making progress in releasing some properties, selling others, and paying off debt; 3. Interest rates are dropping, which could be beneficial for the company.

➀ Powerchip Technology and Tata Electronics have signed a definitive agreement to build India's first 12-inch wafer factory in Gujarat with an investment of $11 billion; ➁ The factory will have a monthly capacity of 50,000 wafers and aims to create over 20,000 high-tech jobs; ➂ The factory will transfer mature process technology from Powerchip and train Indian employees.

➀ Intel is set to receive $8.5 billion from the Chips Act by year-end, with the condition that it does not sell any units to Arm or Qualcomm. The two companies had shown interest in acquiring parts of Intel's product group. ➁ Intel was awarded $19.5 billion but payments were delayed due to progress on its fab-building program. ➂ Intel has committed to spending over $100 billion on new fabs in the US.

1. Occidental Petroleum is a well-managed energy firm with significant production upside; 2. The company is using excess cash flow for debt repayment and enhancing its balance sheet; 3. Occidental Petroleum has a fair value potential of $61-66, implying up to 29% revaluation upside.

➀ Jiangsu, with Nanjing as the leading city, has attracted the most technology companies and investment in China over the past five years; ➁ Nanjing has become a popular destination for large companies and foreign investments, with Xiaomi and Alibaba establishing their regional headquarters there; ➂ Nanjing's transportation infrastructure, educational resources, and financial development contribute to its appeal; ➃ The city's stable and inclusive environment, as well as its friendly real estate market, further attract businesses; ➄ Nanjing is also focusing on developing emerging industries such as new energy vehicles and artificial intelligence.

1. OpenAI is considering restructuring as a for-profit benefit corporation, potentially awarding CEO Sam Altman an equity stake. 2. The move would involve the non-profit unit taking a minority stake in the larger company. 3. Questions arise about prioritizing revenue and managing long-term AI risks.

➀ Wales Tech Week is scheduled to return in November 2025, featuring a technology summit from 24-26 November. The event will highlight the Welsh technology ecosystem and its global applications.➁ Organizers have outlined three key themes: Tech for People, Tech for Performance, and Tech for the Planet.➂ The 10th Annual Wales Technology Awards will also be held during the event.

➀ Intel is reportedly offered a multibillion-dollar equity-like investment from Apollo Global Management Inc.; ➁ The investment could be a sign of confidence in Intel's turnaround efforts; ➂ The deal is still in preliminary stages and may not go through.

1. REITs continue to offer high yields, exceeding 7% in some cases; 2. Some of these high yielders also pay monthly dividends; 3. The author highlights two of his favorite REITs to buy today.

➀ Apollo Global Management has offered to invest up to $5 billion in Intel; ➁ Apollo has already taken a $11 billion stake in Intel's Irish plant; ➂ Intel's share price has been negatively impacted by its efforts to restore leading-edge manufacturing in the US.

1. Utility stocks are sensitive to interest rates and often correlate with long-term bond prices. 2. UTG has recovered most losses since 2023, but its valuation remains high. 3. XLU may be a better investment than UTG for income investors due to its higher dividend yield and lower fees.

1. Eli Lilly's long-term growth prospects have been secured by improved supply in H2'24 and incoming capacity additions from H1'25 onwards. 2. The introduction of its D2C channel for self-pay patients offers a new growth opportunity through uninsured patients. 3. The stock does not appear expensive at current levels with a FWD PEG non-GAAP ratio of 1.30x, well below historical levels and sector peers. 4. The GLP-1 race is likely to face intense competition with up to 16 new GLP-1 drugs potentially launched by 2029. 5. While upgrading the stock to Buy, investors should consider timing their entry points based on their risk appetite.

1. Meta Platforms' stock has risen over 50% YTD due to the potential ban of TikTok in the US and the momentum in its FoA segment. 2. Meta has seen its DAU's and ARPU grow 6.5% and 14% YoY respectively, driven by audience overlap and strategic AI initiatives. 3. Despite the Reality Labs segment dragging down profitability, Meta's operating margins have increased by 900 basis points YoY.

1. Medical Properties Trust stock is trading at a significant discount to its book value, suggesting around 50% upside potential. 2. The recent settlement with Steward Health has resolved major issues, allowing MPW to regain control of 23 hospitals and secure new tenants. 3. Book value can increase over time as MPW pays less in dividends, remains profitable on a normalized FFO basis, and benefits from the Federal Reserve's rate cuts.

1. Healthcare is undervalued despite being the top sector for earnings growth, making it an attractive investment with solid fundamentals and the potential for explosive returns in 2025. 2. Investing in healthcare ETFs or individual undervalued healthcare stocks can capitalize on the sector's recovery and expected double-digit growth through 2026. 3. Screening for blue-chip healthcare stocks with solid fundamentals and fair valuations can yield superior returns, including these five coiled spring blue chips.