North Korea holds military parade, shows off new intercontinental missile - Reuters
Última hora del conflicto en Oriente Próximo, en directo | Sánchez asistirá el lunes en Egipto a la firma del acuerdo sobre el plan de paz para Gaza
Why Is Crypto Down: Bitcoin (BTC) Down 10%, ETH, XRP, SOL in Freefall on Trump Tariff
Ethics: My New Employee Refuses to Do Some Parts of Her Job. Should I Fire Her?
Tech CEOs marvel — and worry — about Sam Altman's dizzying race to dominate AI
I quit JPMorgan, which didn't fulfill my American dream. Co-founding Hims and launching a startup taught me how to take smart risks
Luigi Mangione's lawyers ask federal judge to dismiss some criminal charges, including death-eligible count
Taiwan rejects Beijing's 'psychological warfare' claim
How Many Friends Do You Need? Research Says Your Brain Has a Surprising Limit
Pete Hegseth Launches New Military Task Force To 'Crush' Cartels
Does French turmoil spell the end of Macronism?
7 Signs Your Child’s Brain Isn’t Getting Enough Water
England 'have great chance' to win Ashes - Woakes
North Korea, Vietnam agree to cooperate on defence, other fields, KCNA says - Reuters
How John Swinney plans to put his stamp on the SNP as election looms
Eighteen missing after explosion at Tennessee munitions factory
Melania Trump says she has 'open communication channel' with Putin about Ukrainian children
Why Euro title and LA28 are 'just the start' in GB's Olympic flag dream
At the Center of Letitia James’s Indictment, a House in Norfolk, Virginia - The New York Times
Does Gilmour have to start in Scotland's midfield?
US military hikes operational command of counter-narcotics operations in Latin America - Reuters
Corea del Norte exhibe su nuevo misil intercontinental, capaz de alcanzar Estados Unidos
Guess the Footballers - play the quiz
Trump administration begins laying off federal workers amid shutdown - The Washington Post
Politieke partijen gaven vlak voor verbod nog tienduizenden euro's uit op sociale media
Perú inicia una nueva era de inestabilidad y caos tras la destitución exprés de Dina Boluarte
Rare wildflowers blanket Atacama desert
Merz rebaja la renta ciudadana de Alemania con sanciones para quienes rechacen buscar trabajo
Florence Aubenas, periodista: “Me interesa más hablar con una enfermera de urgencias que con Macron”
Andrés García-Carro, modelo a los 93 años: “Amancio Ortega me traía las camisas en bicicleta a casa”
Una carta de Pynchon y una noche de farra con Allen Ginsberg: lo que esconde el legado del Nobel László Krasznahorkai
Katseye, el primer grupo de K-pop global nacido en un ‘reality’ y diseñado al milímetro para triunfar
Andrés Gertrúdix, el actor discreto: “No tengo redes sociales. No es algo de lo que me vanaglorie, pero vivo muy a gusto”
Multiple people dead, 18 unaccounted for in 'devastating blast' at explosives manufacturer in Tennessee: Sheriff - ABC News - Breaking News, Latest News and Videos
Trump critic and former national security adviser John Bolton to be charged soon, sources say - NBC News
Gaza ceasefire in effect, Israel says, as hostage release countdown begins - CBS News
Trump gets Covid vaccine and flu shot during second check-up of the year - NBC News
Trump threatens China with export controls on Boeing parts - Reuters
Trump administration starts laying off thousands of workers
Trump remains in 'exceptional health,' doctor says - Reuters
US eases some penalties tied to foreign-built ships, toughens others - Reuters
UN Security Council members voice concern about US-Venezuela tensions - Reuters
AstraZeneca makes deal with White House to lower drug prices - NPR
Can the world's oldest president keep his title and woo a nation of young voters?
Burkina Faso refuses to take deportees as US stops issuing visas
Bitcoin extends decline to $104,782 as Trump escalates US-China trade war - Reuters
Wall Street selloff raises worries about market downturn - Reuters
Northern Ireland outclass Slovakia in Belfast
Macron reappoints Lecornu as French PM after days of turmoil
What to know about Idaho's Mountain Home base, home to Qatar's new air force station - Axios
Trump speaks with Nobel Peace Prize winner Machado after his administration denounced the decision to award it to her - CNN
Newsom signs historic housing bill to bring density to transit hubs - Los Angeles Times
US will impose additional 100% tariff on Chinese imports from November, Trump says - Reuters
Macron vuelve a nombrar a Sébastien Lecornu como primer ministro
Tony Blair met Jeffrey Epstein while prime minister
Venezuelan opposition leader María Corina Machado wins Nobel Peace Prize
PVV-leider Wilders schort campagne op vanwege dreiging Belgische terreurcel
Qatar to build air force facility in Idaho, US says
New Zealand earn first points with comfortable Bangladesh win
Plaid promises free childcare if it wins Senedd election
Swinney: No 'shortcut' to NHS wait time reduction
Government to consult on digital IDs for 13-year-olds
No plans to send UK troops to monitor Gaza ceasefire, says Cooper
Verkiezingsdebat: klassiek links tegen rechts en lege stoel Wilders
What are 'papaya rules' in Formula 1?
Duidelijke tegenstelling klimaat in doorrekening verkiezingsprogramma's
Ben Sulayem set to stand unopposed in FIA election
Farage 'stunned' ex-Wales Reform leader took bribes
Wigan again, or history for Hull KR? Grand Final awaits
Ricky Hatton Memorial
Google may be forced to make changes to search engine in UK
Don't force drivers to use parking apps, says RAC
Start aanpak veiligheid stations Almelo, Purmerend, Bergen op Zoom
US to send 200 troops to Israel to monitor Gaza ceasefire
The nation’s cartoonists on the week in politics
Eerste grote verkiezingsdebat bij NPO Radio 1, bijna alle lijsttrekkers aan het woord
Thousands more university jobs cut as financial crisis deepens
Politieke partijen willen hogere defensiekosten betalen door te korten op zorg
Oregon AG to Trump: There’s no rebellion here
Tech billionaires seem to be doom prepping. Should we all be worried?
Universities risk sanctions over Gaza protests, watchdog says
'My family no longer attend matches because of abuse by fans'
Huge buzz but a big gamble: Battlefield 6 takes aim at Call of Duty
US kicks off controversial financial rescue plan for Argentina
Spanberger and Earle-Sears tussle over violent political rhetoric in only debate
Has the clock stopped on Swiss US trade?
Scotland strike late to beat Greece in frantic finish
Nineteen more removed to France under 'one in, one out' scheme
Sunak takes advisory roles with Microsoft and AI firm Anthropic
Five ways abolishing stamp duty could change the housing market
All Post Office Horizon victims entitled to free legal advice for first time
Tesla investigated over self-driving cars on wrong side of road
ID photos of 70,000 users may have been leaked, Discord says
Verkiezingsprogramma's doorgelicht: wat zijn de gevolgen van partijplannen?
F1: Chequered Flag
China tightens export rules for crucial rare earths
Pubs could stay open longer under licensing reforms
Water bills to rise further for millions after regulator backs extra price increases
F1 going 'overboard' by showing girlfriends - Sainz
Peilingwijzer: PVV duidelijk de grootste, lichte winst D66 en JA21
America's top banker sounds warning on US stock market fall
Antifa-motie druppel voor opgestapte VVD-senator: 'De maat was vol'
Vance heads to Indiana after Republicans warn White House of stalled redistricting push
DNC briefs top Democrats on audit of 2024 White House loss
Gold surges past $4,000 an ounce as uncertainty fuels rally
APPLE 245.27 −4.96%
Mittal 32.32 −5.83%
BAM 8.38 −1.00%
BESI 140.30 −3.51%
BERKHATH 489.13 −2.14%
BYD 109.20 −0.46%
ESSILOR 273.40 −1.65%
FAGRON 21.00 +2.94%
NVIDIA 183.16 −3.15%
SHELL 31.04 −3.27%
SAMSUNG 94,200.00 +9.53%
SOFTBANK 22,355.00 −2.66%
TMSC 1,440.00 +1.77%
TESLA 413.49 −5.74%
Investment Analysis: Americas Stock Market Overview – Week 39, 2025

The Americas equity tape supports a soft‑landing consensus with AI‑led capex, resilient consumer spend at the value end, and easing but still restrictive policy rates. Mega‑cap tech and cloud platforms show double‑digit growth, fat margins, and record cash flow, while hyperscaler and data‑center buildouts anchor a multi‑year demand cycle for semis and software. Financials benefit from benign credit and healthy fee pools, though the rate path will shape net interest and trading. Energy and materials remain cycle‑ and China‑sensitive, and consumer staples face a valuation and dividend‑coverage check as growth cools. LatAm leaders offer superior ROE and structural digitization, offset by FX and policy risk. Stock selection matters more than beta.



Sector Review

Technology and Cloud Software: Microsoft and Alphabet pair high‑30s margins with large AI monetization runways across Copilot, Azure, and ad/search modernization. Apple remains cash‑rich with product‑cycle optionality but faces regulatory noise. Execution in AI features and pricing power will separate compounding from re‑rating fatigue.

Semiconductors: NVIDIA’s profitability and platform moat dominate near term, though export controls and supply normalization could temper growth. Intel is a policy‑backed turnaround with negative profitability and free cash flow, making product cadence and foundry milestones decisive.

Internet, E‑commerce and Digital Ads: Amazon’s AWS and advertising engines are re‑accelerating alongside retail efficiency gains. Meta’s exceptional margins fund AI and devices, with regulatory risk the swing factor. MercadoLibre combines 30%+ growth with payments and credit scale, but leverage and negative LFCF require discipline.

Payments and FinTech Infrastructure: Visa delivers secular, high‑margin compounding and cash returns with below‑market beta. Regulatory fee regimes and alternative rails are the primary watch items, but network effects remain durable.

Banks and Financials: JPMorgan and RBC show strong profitability, fee growth, and resilient credit; BAC is improving toward the top of its range. Itaú and Credicorp boast high ROE with revenue variability tied to local macro. Capital returns are solid, but sensitivity to rates and regulation persists.

Energy: Exxon Mobil and Suncor provide income and lower beta with cash flow support, albeit with commodity elasticity. Petrobras offers high yield with elevated policy and payout sustainability risk.

Healthcare: Johnson & Johnson provides defensive compounding with new U.S. capacity to mitigate tariff risk; upside depends on MedTech cadence and margin hold.

Consumer Staples: Procter & Gamble maintains margin resilience. Coca‑Cola and PepsiCo confront slower growth and payout constraints, with cash conversion and leverage under scrutiny.

Materials and Mining: Vale and Grupo México hinge on China demand and energy‑transition metals. Strong EBITDA meets negative LFCF in parts of the complex, making capital allocation critical.

Industrials and Aerospace: Embraer’s backlog and operating leverage support the rerating, but supply chain and delivery execution must sustain free cash flow.

Telecom: América Móvil’s cash generation and dividend are offset by leverage, FX, and funding costs, moderating multiple expansion.

Retail: Walmart and Walmex continue steady share gains via omnichannel and efficiency, offering low‑beta compounding with modest yield.


TOP 5 Investment Picks

Microsoft Corporation (MSFT). Microsoft combines scale and profitability with the clearest AI monetization roadmap. With $281.72B TTM revenue, a 44.90% operating margin, $136.16B operating cash flow, and net income of $101.83B, it can fund Azure, Copilot, and security while sustaining buybacks and dividends. Teams unbundling in the EU is manageable relative to suite value. If enterprises continue modernizing data and adopting AI, consumption and seat growth should support double‑digit EPS CAGR with resilient margins, offering high‑quality compounding at moderate volatility.

NVIDIA Corporation (NVDA). NVIDIA’s 60.84% operating margin and $86.6B net income on $165.22B revenue underscore extraordinary economics from AI accelerators and a sticky software stack. Guidance for $54B in Q3 and hyperscaler capex depth suggest durable demand despite China restrictions. High beta and policy risks imply volatility, yet the platform moat, supply ramp, and ecosystem lock‑in favor multi‑year cash compounding and optionality in networking and software subscriptions.

Amazon.com, Inc. (AMZN). Amazon’s $670.04B TTM revenue, 11.43% operating margin, and $121.14B operating cash flow reflect a business exiting a margin reset with improving retail efficiency. AWS and ads are high‑margin growth engines, while AI services deepen customer stickiness. With shares near highs but supported by accelerating earnings growth (+34.70% yoy) and capex discipline, the path to multi‑year multiple resilience and EPS compounding looks credible.

Alphabet Inc. (GOOGL). Alphabet’s $371.4B TTM revenue, 32.43% operating margin, and $133.71B operating cash flow, plus a new dividend, provide flexibility to fund AI infrastructure and product innovation. Antitrust remedies are a headline risk, but scale and diversified assets (Search, YouTube, Cloud) allow adaptation. If AI improves ad relevance and Cloud narrows losses while power procurement stabilizes, earnings quality and cash returns can expand from near 52‑week highs.

Visa Inc. (V). Visa’s structural advantages—52.16% profit margin, $23.48B operating cash flow, and mid‑teens revenue growth—support steady, lower‑beta compounding. With secular cash‑to‑card and digital migration, disciplined capital returns (22.36% payout) and strong pricing power, Visa offers superior risk‑adjusted returns even through macro noise, with limited technology disruption risk near term.

Honorable mentions: Meta Platforms, Inc. (META) for exceptional margins and AI monetization optionality, Apple Inc. (AAPL) for cash generation and ecosystem resilience into product and services cycles, MercadoLibre, Inc. (MELI) for LatAm e‑commerce/payments scale with execution watchpoints, Berkshire Hathaway Inc. Class B (BRK-B) for fortress balance sheet and optionality, and Walmart Inc. (WMT) for low‑beta omnichannel compounding.


BOTTOM 5 Investment Risks

Intel Corporation (INTC). Intel’s turnaround carries binary risk: TTM net income of −$20.5B, negative levered free cash flow (−$8.32B), and $50.76B debt require flawless execution on Xeon 6 and foundry ramp. Even with policy support, dilution of returns, product timing slips, or customer hesitancy could prolong losses and compress valuation relative to peers compounding profits today.

Petróleo Brasileiro S.A. – Petrobras (PBR). While headline yield is 14.42%, a 90.08% payout ratio, tight liquidity (0.76 current ratio), and state influence on pricing and capital allocation imperil sustainability. Quarterly revenue contraction (−10.10% yoy) and elevated policy risk can force dividend resets and keep multiples depressed despite Búzios tailwinds.

PepsiCo, Inc. (PEP). A defensive label masks constraints: near‑100% payout ratio, elevated leverage (debt/equity 276.87%), soft volumes, and 1.00% quarterly revenue growth with earnings volatility. Dividend support limits flexibility for investment and buybacks until margins recover, leaving limited multiple upside versus staples peers with cleaner momentum.

The Coca-Cola Company (KO). Strong accounting margins contrast with weak cash conversion (ttm operating cash flow of roughly $1.3B versus $12.18B net income) and a 70.57% payout ratio. With shares underperforming and modest top‑line growth (+1.40% yoy), dividend growth and buyback capacity look constrained unless working capital normalizes, capping near‑term re‑rating potential.

Vale S.A. (VALE). Attractive yield (11.08%) is offset by commodity cyclicality, negative levered free cash flow (−2.81B), and substantial debt (110.78B). Iron ore demand uncertainty and execution risk in nickel diversification can force distribution pacing and drive multiple volatility, making risk‑adjusted returns inferior to secular compounders.

Watchlist risks: Tesla, Inc. (TSLA) for a gap between fundamentals (revenue and EPS declines, margin pressure) and a high‑beta rerating that hinges on software monetization, América Móvil, S.A.B. de C.V. (AMX) for leverage and FX/funding sensitivities despite solid operations, Embraer S.A. (ERJ) for execution after a sharp rerating and supply‑chain reliance, Fomento Económico Mexicano, S.A.B. de C.V. (FMX) for thin margins and earnings volatility amid Brazil integration, and Exxon Mobil Corporation (XOM) for cycle‑driven earnings downside if cracks and realizations soften.


Key Investment Themes

AI infrastructure is the dominant flywheel, benefiting platform software (Microsoft, Alphabet) and silicon leaders (NVIDIA), with cash‑rich balance sheets recycling into capex and shareholder returns. Scale economics and ecosystem lock‑in are decisive, supporting durable margins and pricing power.

Cash flow discipline and payout sustainability are key differentiators in staples and high‑yield cyclicals. Companies with strong cash conversion and moderate payout ratios can defend dividends and invest, while those with weak cash generation relative to earnings face de‑rating risk despite income appeal.

In financials, high‑ROE franchises with diversified fee pools and benign credit, from U.S. money‑centers to LatAm leaders, screen well as rates normalize. Payments networks continue secular share gains with superior risk‑adjusted compounding.

Commodity and policy exposure create asymmetric outcomes in energy and materials. Balance sheets and capital allocation must buffer volatility, but policy overhangs and leverage can overwhelm otherwise solid operations. Finally, value‑retail scale and omnichannel execution provide low‑beta compounding as consumer spend bifurcates.



This article is not investment advice. Investing in stocks carries risks and you should conduct your own research before making any financial decisions. Note also that this review per region is based only on the companies followed in this magazine (see the Stocks in the Finance section).