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And conveniently, those professionals have been on sale. Which, in the stock market, is basically like finding a designer handbag in the clearance bin. It’s suspicious, but you take it. I’m talking about CrowdStrike (CRWD 2.43%). They’re the folks who keep the bad guys out, and right now, they’re trading at a price that suggests everyone thinks the bad guys are winning. Which, frankly, is a depressingly accurate assessment of most things these days.

Management is guiding for a growth rate of 8% in 2026, which, while perfectly adequate for a quiet life, is a considerable drop from the 15% they’ve been enjoying these past five years. And, adding to the general air of mild consternation, the entire software industry is currently in a bit of a flutter over this Artificial Intelligence business. The market, you see, is rather keen to determine which of these SaaS companies will be most susceptible to being, shall we say, ‘disrupted’ by the clever chaps developing these new technologies. This widespread worry, coupled with Tyler’s slightly underwhelming results, has left the stock down a considerable 55% from its peak. A spot of bother, indeed!

Netflix, you see, had a deal lined up for Warner Bros. Discovery. Seventy-two billion dollars, give or take a few yachts. A hefty sum. Warner Bros. Discovery was preparing to shed some of its older holdings, the bits that don’t quite shine anymore. It’s like decluttering, but with television networks. Paramount Skydance, though, wasn’t thrilled. They wanted all of Warner Bros. Discovery for themselves. A perfectly understandable desire, if you happen to be a large media company. So it goes.

Indeed, to observe Cognex’s ascent in the year 2026 is to witness a transformation most astonishing. Up a staggering 62% since the commencement of the year, it appears this manufacturer of automated vision systems has discovered the philosopher’s stone of the industrial age.

The initial pop? That was JPMorgan’s Marcelo Santos, a man who clearly knows his Brazilian e-commerce. He upgraded the stock to “overweight.” A perfectly sensible thing to do. But the subsequent stumble? That’s where things get… interesting. It’s like a vaudeville routine, really. The setup is solid, but the punchline is a bit… soggy.

There was a time, not so long ago, when the demand for delivery seemed limitless. Every doorstep a destination, every box a symbol of… what, exactly? Consumption? Connection? It scarcely mattered. The stock price rose, fueled by a temporary frenzy. But the world, as it invariably does, adjusted. The initial surge subsided, and the company found itself burdened not with opportunity, but with the weight of its own ambition. A restructuring was announced, a familiar refrain for any organization attempting to navigate the currents of change. Costs to be cut, technology to be integrated, customers to be… prioritized. The usual pronouncements.

Let us examine, then, the particulars of this situation, to discern whether a cautious optimism might be warranted, or whether this is merely another instance of market caprice.

The expectation of continued losses into 2026 is hardly surprising. Companies pioneering unproven technologies rarely generate immediate wealth. However, a particular detail appears to have unsettled the market. QuantumScape’s stock declined by over 10% following the report, and remains significantly down as of this writing. It is a useful reminder that enthusiasm, however fervent, does not equate to value.

The fund, it appears, has determined that Shift4 no longer holds a place in its affections. A harsh judgment, perhaps, but one delivered with swift and utter finality. The shares, once a favored player in their portfolio, now represent precisely… nothing. A curious fate for a company that once promised to revolutionize the payment of debts – and, naturally, to enrich all those involved.

These aren’t just any chips, mind you. They’re the little rectangles that dream up artificial intelligence. All the rage. And ASML, it turns out, is the only outfit making the really fancy machines needed to etch those dreams onto silicon. Extreme ultraviolet lithography, they call it. Sounds expensive. And it is.