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Bei der REITweek-Konferenz haben viele Immobilienfonds ihre Geschäfte und Perspektiven vorgestellt. Während sie verschiedene Branchen abdecken – von Einkaufszentren bis zu Lagerhäusern und Datenzentren – arbeiten sie alle gegen einen unsicheren wirtschaftlichen Hintergrund an. Der Hauptanlass für Sorge ist, wie lange die Ölpreise aufgrund des Konflikts im Nahen Osten erhöht bleiben werden. Selbst wenn der Straße von Hormus heute wieder geöffnet wird, dauert es Monate, bis der Fluss von Öl und anderen Gütern normalisiert ist. Realty Income (O), einer der größten und ältesten Immobilienfonds, sagt, dass sein Modell gut positioniert ist, um mit Unsicherheit umzugehen. "Viele unserer Mieter funktionieren besser in unsicheren Zeiten", sagte CFO Jonathan Pong in einem Interview mit Seeking Alpha. Der Hauptmieter des Fonds ist der Einzelhandel. Stattdessen werden Menschen zu Hause kochen und Lebensmittel kaufen, anstatt ins Restaurant zu gehen oder einen Kaffee bei Starbucks zu trinken. Andere widerstandsfähige Sektoren sind Gesundheit und Fitnessclubs, Dollarläden (Dollar General ist der größte Mieter von Realty Income) und Lagerhäuser wie Sam's Club und BJ's Wholesale.

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Taiwan Semiconductor Manufacturing hat eine beeindruckende Wachstumsstory. Das Unternehmen hat einen enormen Vorteil, da es den größten Foundry im Welt ist und Chips für andere Unternehmen herstellt. Die Entwicklung von KI hat einen dramatischen Einfluss auf die Einnahmen von TSMC gehabt. Seit 2020 ist der Prozentsatz der Einnahmen aus Hochleistungsrechnern stark gestiegen, ebenso wie die Einnahmen und Profitabilität von TSMC.

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Der CIO hat Zweifel, ob die 'Mag 7' weiterhin so großen Einfluss auf die Renditen des Aktienmarktes haben. Er konzentriert sich nun auf das 'AIR 7', ein "Aktienkorb", der sich auf Speicher und Halbleiterproduktion, sowie Datencenter-Besitzer, Kühlung und Stromversorger erstreckt. Die "AIR 7"-Aktien umfassen Taiwan Semiconductor, Micron Technology, Digital Realty, Vertiv Holdings und American Electric Power. Zwei der Magnificent 7-Aktien, Nvidia und Alphabet, runden seine 'AIR 7'-Auswahl ab.

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Von allen Möglichkeiten, in künstliche Intelligenz zu investieren, scheint die Infrastruktur, die sie unterstützt, eine der lukrativsten zu sein. Tatsächlich sind von den fünf besten auflaufenden Aktien im Nasdaq-100-Index vier direkt im AI-Infrastrukturspace tätig – Sandisk (SNDK), auf 513% gestiegen, Seagate Technology (STX), auf 197% gestiegen, Western Digital (WDC), auf 187% gestiegen und Micron Technology (MU), auf 180% gestiegen. Data-Center-Immobilien-Investmentfonds (REITs) sind auch attraktiv, haben sich handlich über dem Nasdaq-100 ausgebildet. Digital Realty Trust (DLR) ist um 25% gestiegen und Equinix (EQIX) sprang um 41%, beide übertrafen die Indexrendite von 16% im Jahr 2026. ...

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Okay, here's a 600-word summary of the text, followed by a German translation:

Summary (600 words)

The AI stock market experienced a massive surge in 2023, largely fueled by the popularity of OpenAI’s ChatGPT. Companies like SanDisk (with a remarkable 559% gain) and Palantir Technologies saw significant stock increases. Nvidia, despite its size, also performed well. However, the initial excitement has faded, and many of these stocks have stalled, prompting investors to reassess their positions.

The core issue is that simply being in the AI space is no longer enough. Investors are demanding profitability and realistic valuations. Many companies that initially benefited from the hype have failed to deliver on expectations. Palantir’s stock, for example, has fallen back to its earlier levels, and Nvidia’s gains have slowed, demonstrating the market’s increased scrutiny.

The report highlights a shift in investor focus. It’s no longer sufficient to have a compelling growth story; companies must now demonstrate actual profits and justify their high valuations. This has created a separation between leading and lagging companies within the AI sector.

Key Investment Themes Emerging:

• Profitability is Paramount: The early days of AI were characterized by investors prioritizing growth potential over immediate profitability, particularly in hardware companies like Nvidia and Broadcom. Now, companies need to show substantial earnings.
• Practical Applications & Market Value: Not all AI solutions are created equal. Investors are looking for AI technologies that provide tangible, marketable value. The survey by PwC revealed that many CEOs haven’t seen a return on their AI investments, due to ineffective solutions (like AI chatbots that are often inaccurate).
• Power Efficiency is Critical: The burgeoning demand for AI is placing a tremendous strain on global power grids. Companies utilizing more energy-efficient processing chips (like those from Arm Holdings) and adopting 800-volt DC power systems (as Vertiv is doing) are gaining an advantage.

Specific Company Observations:

• Palantir Technologies: While Palantir generated $1.6 billion in net income, its high market capitalization still necessitates significant further growth to justify its valuation.
• Digital Realty (DLR): This data center company has demonstrated solid profitability and growth through serving customers unwilling or unable to build their own data centers.
• Arm Holdings (ARM): Its energy-efficient chips are becoming increasingly popular for AI data centers, addressing a key sustainability concern.
• Vertiv: Their development of 800-volt DC power systems is crucial for optimizing data center energy efficiency.

The New AI Investment Playbook:

Investors should prioritize companies that demonstrate real profit margins, offer truly valuable AI solutions, and address the growing concerns around power consumption. Discernment and careful evaluation are essential in navigating the evolving landscape of the AI sector.

German Translation (approx. 600 words)

Zusammenfassung (600 Wörter)

Der KI-Aktienmarkt erlebte 2023 einen massiven Aufschwung, der vor allem durch die Popularität von OpenAIs ChatGPT angetrieben wurde. Unternehmen wie SanDisk (mit einem bemerkenswerten Anstieg von 559 %) und Palantir Technologies profitierten von erheblichen Aktiensteigerungen. Nvidia, trotz ihrer Größe, entwickelte sich ebenfalls positiv. Doch die anfängliche Euphorie hat nachgelassen, und viele dieser Aktien haben sich verlangsamt, was Investoren dazu veranlasst, ihre Positionen neu zu bewerten.

Das zentrale Problem ist, dass sich lediglich in der KI-Branche nicht mehr ausreicht. Investoren fordern Rentabilität und realistische Bewertungen. Viele Unternehmen, die zunächst von der Hype profitiert haben, konnten die Erwartungen nicht erfüllen. Palantirs Aktien sind beispielsweise auf ihr früheres Niveau zurückgefallen, und Nvidias Gewinne haben sich verlangsamt, was die erhöhte Prüfung des Marktes zeigt.

Der Bericht beleuchtet einen Wandel im Fokus der Investoren. Es reicht nicht mehr aus, eine überzeugende Wachstumsgeschichte zu haben; Unternehmen müssen nun tatsächlich Gewinne erzielen und ihre hohen Bewertungen rechtfertigen. Dies hat eine Trennung zwischen führenden und zurückbleibenden Unternehmen im KI-Sektor geschaffen.

Wichtige Investitionsthemen, die sich herauskristallisieren:

• Rentabilität ist von entscheidender Bedeutung: Die frühen Tage der KI waren durch Investoren gekennzeichnet, die Rentabilität über unmittelbares Wachstum priorisierten, insbesondere bei Hardware-Unternehmen wie Nvidia und Broadcom. Jetzt müssen Unternehmen erhebliche Gewinne zeigen.
• Praktische Anwendungen und Marktwert: Nicht alle KI-Lösungen sind gleich. Investoren suchen nach KI-Technologien, die einen greifbaren, marktwertigen Nutzen bieten. Die Umfrage der PwC ergab, dass viele CEOs keinen Nutzen von ihren KI-Investitionen gesehen haben, aufgrund ineffektiver Lösungen (wie KI-Chatbots, die oft ungenau sind).
• Energieeffizienz ist entscheidend: Die wachsende Nachfrage nach KI stellt einen enormen Druck auf die globalen Stromnetze. Unternehmen, die energieeffizientere Rechenchips (wie die von Arm Holdings) verwenden und 800-Volt-DC-Leistungssysteme einsetzen (wie Vertiv es tut), haben einen Vorteil.

Spezifische Beobachtungen zu Unternehmen:

• Palantir Technologies: Obwohl Palantir 1,6 Milliarden US-Dollar an Nettogewinn erzielte, ist seine hohe Marktkapitalisierung immer noch durch erhebliches weiteres Wachstum erforderlich, um ihre Bewertung zu rechtfertigen.
• Digital Realty (DLR): Dieses Datenzentrum-Unternehmen hat solide Rentabilität und Wachstum durch die Bedienung von Kunden gezeigt, die nicht oder nicht in der Lage sind, ihre eigenen Rechenzentren zu bauen.
• Arm Holdings (ARM): Ihre energieeffizienten Chips werden zunehmend für KI-Rechenzentren eingesetzt, um ein wichtiges Nachhaltigkeitsproblem zu lösen.
• Vertiv: Ihre Entwicklung von 800-Volt-DC-Leistungssystemen ist entscheidend für die Optimierung der Energieeffizienz von Rechenzentren.

Der neue KI-Investitions-Playbook:

Investoren sollten sich auf Unternehmen konzentrieren, die echte Gewinnmargen aufweisen, wertvolle KI-Lösungen anbieten und die wachsenden Bedenken hinsichtlich des Energieverbrauchs ausräumen. Sorgfältige Bewertung und Diskretion sind unerlässlich, um die sich entwickelnde Landschaft im KI-Sektor zu navigieren.

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There's been a lot said about the massive spending on artificial intelligence (AI) infrastructure, with Meta Platforms, Alphabet, Amazon, and Microsoft alone expected to spend a collective $700 billion this year on new data centers and the equipment that fills them, such as chips, networking equipment, server racks, and cooling systems.

But take a moment to absorb that number -- $700 billion. Fewer than 20 publicly traded companies worldwide have market caps that large. It's also more than the gross domestic products of many countries, including Israel, the United Arab Emirates, and Sweden.

Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »

Undoubtedly, there's going to be a lot of money changing hands this year and in the years to come as tech companies build out their AI data centers. If you're looking for some slam-dunk stock buying opportunities to capitalize on that trend, consider Nvidia(NASDAQ: NVDA), Digital Realty Trust(NYSE: DLR), and Credo Technology Group(NASDAQ: CRDO).Image source: Getty Images.

Nvidia

Tech stocks have been taking it on the chin in recent weeks. The biggest reason is that some analysts are worried that companies like Meta and Alphabet are spending too much on AI infrastructure and won't be able to make money off their investments. While I understand that argument, I think that Nvidia stock is being unfairly punished.

First of all, Nvidia will continue to be arguably the biggest beneficiary of the AI buildout, as it makes the most popular processors for training models and handling high-level computing workloads. CEO Jensen Huang has projected that the AI infrastructure opportunity could be worth up to $4 trillion over the next five years, and Nvidia is positioned to get a significant portion of that through its Blackwell and Vera Rubin processors.

Revenue continues to increase at an astonishing clip. Sales in the fourth quarter of its fiscal 2026 (which ended Jan. 25) were $68.1 billion, up 73% from the previous year. Total revenue for its fiscal 2026 was $215.9 billion, an increase of 65% from fiscal 2025.

But Nvidia, which was once valued at more than $5 trillion, has lost roughly $840 billion in market capitalization as tech stocks pulled back. The stock is currently on sale, more than 16% off its all-time high, and reasonably valued with a forward price-to-earnings ratio of about 21. I'm expecting big things from Nvidia stock.

Story Continues

Digital Realty

While Nvidia supplies the graphics processing units (GPUs) that make AI run, Digital Realty supplies data centers and connection services. The company operates more than 300 data centers across North America, Europe, Asia, and Australia, and it counts more than half of the Fortune 500 among its clients.

The company has 3 gigawatts (GW) of data center capacity currently, with another 5 GW of development capacity. It finished 2025 with $1.2 billion in full-year bookings, with a backlog of $1.4 billion.

CEO Andrew Power told analysts:

The introduction of ChatGPT a few years ago and the ensuing race between Gemini, Claude, Grok, and others marked the beginning of a new chapter in the digital age, one defined by the convergence of AI, cloud, data, and interconnection at a global scale. Cloud platforms continue to grow at remarkable rates even at their extraordinary scale, underscoring the depth and durability of this demand.

Digital Realty is a real estate investment trust, which means it is required to return at least 90% of its taxable income to shareholders as dividends every year. At the current stock price, its yield is 2.8%, providing investors with a stable source of income or an opportunity for dividend reinvestment.

Credo Technology Group

Credo Technology doesn't get the same level of attention as Nvidia, but you can argue that Nvidia's chips wouldn't be nearly as valuable without Credo's contribution. The company provides high-speed data connectivity products for data centers, as well as 5G products and high-performance computing. Its active electrical cables (AECs) use signal processors to help move data quickly between chips and switches, reducing degradation and power consumption.

The company is growing even faster than Nvidia. Revenue in its fiscal 2026 third quarter (which ended Jan. 31) was up 201.5% from a year ago to $407 million. Credo ended the quarter with $1.3 billion in cash, thanks in part to gross margins of 68.5%. Revenue in the current quarter is forecast to be in the range of $425 million to $435 million.

Should you buy stock in Nvidia right now?

Before you buy stock in Nvidia, 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 Nvidia 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 $515,294! Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,077,442!

Now, it’s worth noting Stock Advisor’s total average return is 917% — a market-crushing outperformance compared to 185% 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.

See the 10 stocks »

*Stock Advisor returns as of April 2, 2026.

Patrick Sanders has positions in Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Digital Realty Trust, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.

Prediction: The $700 Billion Artificial Intelligence (AI) Capex Boom Will Create the Best Buying Opportunity of 2026 for These 3 Stocks was originally published by The Motley Fool

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Investing.com – UBS veröffentlichte seine neueste globale Liste hochwertiger Dividendenaktien, die Namen aus verschiedenen Sektoren und Regionen identifiziert, die seine quantitativen Modelle als unwahrscheinlich für Kürzungen ihrer Ausschüttungen einstufen. Analystin Amanda Belcaid sagte, UBS habe Aktien gescreent, die sich qualitativ hochwertig im Vergleich zu ihren Wettbewerbern, eine Dividende zahlen und eine geringe Wahrscheinlichkeit einer Kürzung aufweisen, bevor eine Shortlist an Sektionalanalysten zur weiteren Prüfung eingereicht wurde.

Die resultierenden Namen umfassen Telekommunikationsdienstleistungen, Konsumgüter, Energie, Finanzdienstleistungen, Gesundheitswesen, Industrie, Technologie, Materialien, Immobilien und Versorgungsunternehmen. Zehn der Top-Aktien sind Omnicom Group, Domino's Pizza, Exxon Mobil, Chiba Bank, UnitedHealth Group, Aena, ASE Technology Holding, Aluminum Corporation of China (H-share), Digital Realty Trust und DTE Energy. Die Dividendenrenditen in der Liste reichen von 2,3 % bei Domino's Pizza bis zu 4,8 % bei Aena.

Auf dem Makro-Hintergrund prognostizierte UBS eine Gesamtchance von 17,8 % für Dividendenkürzungen in verschiedenen Regionen und Sektoren. „Die USA bleiben aus unserer Sicht die sicherste Region für Dividenden“, schrieb Belcaid, wobei die Wahrscheinlichkeit einer Kürzung nur 6,2 % betrug. Schwellenländer und der Energiesektor tragen das höchste Risiko einer Kürzung, nämlich 23,0 % bzw. 26,3 %. Japan führt bei Dividendengewachstum mit einer Prognose eines Wachstums von 12,8 % an, während Energieaktien im Pazifik außerhalb Japans voraussichtlich am stärksten fallen werden (-19,5 %). Hochrenditeaktien haben sich in allen Regionen im letzten Quartal gegenüber Aktien mit niedriger Rendite als überlegen erwiesen, wobei Japan und die USA führend waren.

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On Motley Fool Money, Motley Fool contributors Jon Quast, Matt Frankel, and Rachel Warren discuss:

The new deal between Nebius and Meta Platforms.How the neocloud business works.Dollar Tree's Q4 report and takeaways.Picking Hidden Gems stocks: Leadership.

To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. When you're ready to invest, check out this top 10 list of stocks to buy.

Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »

A full transcript is below.

Should you buy stock in Nebius Group right now?

Before you buy stock in Nebius Group, 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 Nebius Group 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 $503,861! Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,026,987!

Now, it’s worth noting Stock Advisor’s total average return is 884% — a market-crushing outperformance compared to 179% 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.

See the 10 stocks »

*Stock Advisor returns as of March 30, 2026.

This podcast was recorded on March 16, 2026.

Jon Quast: It's another day on the stock market, and we have another massive AI infrastructure deal to talk about. This is Motley Fool Money. Welcome to Motley Fool Money with the Hidden Gems team. I'm Jon Quast. I'm joined today by Fool contributors Matt Frankel and Rachel Warren. You know, guys, the weekend news was rather thin. We're going to talk about Dollar Tree's 2025 results in a moment, and we're also going to do some high level stock picking ideas provide some of those thoughts. But the biggest news that we did get this morning was we did get word that neocloud company Nebius signed an AI infrastructure deal with Meta Platforms. Matt, I want to start with you here. For listeners who may not be aware, what exactly is Nebius and how do the economics of this Neocloud business work?

Matt Frankel: Yeah, so, Jon, even on lighter news days, it seems like we can always count on some AI infrastructure deal being announced. That's always a good go to. Nebius they're a Dutch company. They provide AI infrastructure. Think of them as kind of a landlord for AI computing power. They own data centers throughout the U.S., Europe, and Israel, but they're not like a data center ret, in the sense that they just own the building. They own all the chips inside the video chips that are used to train AI models, things like that. They own the storage. They own the hardware. They own all of this stuff that is needed for companies who want to train or deploy AI models. It rents this kind of as a hardware as a service, I guess, you'd call it.

Their customers range from small AI start-ups to massive players like Microsoft, who they also have a deal with. They make their money they charge their customers for access to their hardware on kind of an on demand basis. In other words, the more the customers use their hardware to train their AI models or run AI applications, the more they're going to pay. It's a capital-intensive model upfront, which is where these billion-dollar deals come in. It involves a heavy capital investment to buy all the equipment, but then it's a very high-margin recurring revenue stream. Kind of like a utility almost. We'll get into the deal specifics in just a bit, but it's not surprising to see companies that have, you know, grand AI ambitions and a limited amount of hardware that they currently own to be interested in the partnership like this.

Jon Quast: Rachel, I want you to walk us through the details of this deal between Nebius and Meta Platforms. On top of that, like, what is Meta Platforms actually getting out of this? Why is it that Nebius shareholders seem to enjoy this so much Nebius stock up today sharply.

Rachel Warren: Yeah, I mean, think of this deal as Meta booking a massive five-year reservation at the world's most advanced digital hotel. That hotel is Nebius. As Matt explained, they're the specialized cloud provider. They build data centers specifically for AI. Meta has agreed to pay up to $27 billion dollars to ensure that they have enough computing power to run their future AI models. Then starting in 2027, Nebius will provide Meta with $12 billion worth of capacity; they're going to be using Nvidia's next gen Vera Rubin chips. Those are basically the most powerful engines ever built for AI to date. The deal is a really dramatic expansion of their initial $3 billion partnership they signed late last year. Meta is committed to purchasing up to $15 billion in further capacity from upcoming Nebius clusters.

For Nebius the deal is life changing. The contract's actually worth more than the entire company was valued at yesterday. It also proves that even though they're a smaller neocloud player, they can play in the big leagues with tech giants. I think for the market, this deal kind of serves as a massive validation of that neocloud model where you've got these start-ups like Nebius that build data centers from the ground up specifically for GPU-intensive AI workloads.

Another thing I'll note, it really solidifies Nebius' position as a critical global player. This is a deal that sits alongside a recent $2 billion investment from Nvidia, a separate $19 billion agreement with Microsoft. Now, what about for Meta platform? For Meta, it's really a strategic move to lock in scarce compute power, ensure that it's not left behind in the AI arms race. They're chasing these frontier AI models, and this is at a time where they're actually planning significant layoffs, and they're still planning on putting forth a staggering, I think, at last count, $135 billion in AI CapEx for 2026. Good news all around. I think this fits very much into Meta's broader strategy that we've been seeing them implement of late.

Jon Quast: Well, and you alluded to it right then. It's not the only player in the Neocloud space. You have IREN, you have CoreWeave. There are many, actually, Neocloud players that are coming more into the investor awareness. I want to ask you, Matt, basically, is this a good place to invest, this Neocloud industry? Is this a good place to put some money, or is there something that you like better that's related to this whole thing that we're talking about with AI infrastructure?

Matt Frankel: Yeah, so I have CoreWeave on my watch list, but I haven't pulled the trigger on it yet. It's a really interesting business. This is going to be definitely something that's fulfilling a need, clearly with all these deals. But these are highly volatile stocks. They're very richly valued. They're difficult to evaluate by any valuation metrics that I normally use. My preferred way to invest is the actual data center real estate operators. Digital Realty Trust is a core holding of mine. I mean, companies like CoreWeave and Nebius are tenants of these companies. These are the companies that lease the space. It's not like an on demand model like Nebius uses. You sign like a long term lease to rent space inside these data centers. They can't build these properties fast enough. Their backlog keeps growing. I think digital realty and Equinix is another big one. Those are my preferred way to invest right now. But then again, I'm the value investor at heart. That's why I answer it that way.

Rachel Warren: I feel like for me personally, this is a really interesting space that I'm watching closely, but I tend to in my personal investing approach, go with these bigger tech companies that are operating as the core partners to the Nebiuses of the world. I think a lot of that goes back to what Matt was saying. Again, this is my own personal investment approach. I think some of these companies can difficult to value. I think there are some real questions about some of the financial structural integrity of their balance sheets. For me, I tend to approach this still from looking at the Microsofts, the Nvidias, the Meta platforms. But there are a lot of ways to approach this space, and I think that what we are going to be seeing more and more moving forward is more fragmentation in AI infrastructure. I think that's going to create a lot of exciting opportunities for investors.

Jon Quast: When we come back, we're going to take a look at the consumer and spending trends with a discount retail chain. You're listening to Motley Fool Money.

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Jon Quast: Welcome back to Motley Fool Money with the Hidden Gems team. Earning season is winding down, but we did get some financial results this morning from Discount retail chain Dollar Tree. It reported its finalized results for 2025. I want to note that this is Dollar Tree here, not Dollar General. Dollar General reported last week. Maybe just before we jump into things in full force, Rachel, can you just walk us through for our listeners? What's maybe the biggest difference between Dollar General and Dollar Tree?

Rachel Warren: Yeah, I think people understandably confuse the two. Dollar General's essentially the leader in rural America. About 75% of their stores are in towns with fewer than 20,000 people. Dollar General, they function more like a mini Walmart, maybe a rural convenience store where people go for weekly essentials. Actually, about 80% or more of what they sell is consumables, basically the stuff you use up and have to buy again. Now, Dollar Tree, on the other hand, they're much more of kind of that suburban treasure hunt. They tend to set up shop in strip malls. They tend to target a much broader range of shoppers. They have a lot of households in the six figure range that tend to shop at Dollar Tree looking for things like party supplies, seasonal decor and other bargains. Those are kind of the core differences.

Jon Quast: Yeah, you wouldn't expect that six-figure income, but indeed, that is what is going on there with Dollar Tree. Maybe now we can just turn to the fourth quarter results themselves. Rachel, just kind of walk through here. What stood out to you?

Rachel Warren: The reason I think it's interesting to talk about this is we are at a time where the consumer is constrained financially, and I think that we see during those times. We've seen this during past periods like this, consumers tend to gravitate toward these type of stores. What's interesting about Dollar Tree, they're showing that even the Dollar Store isn't really $1 store anymore. They actually brought in $5.5 billion in revenue in our quarter. That was a 9% jump year over year. That's a pretty solid growth rate for a business like this.

Big secret behind the growth is that they're really aggressively moving away from that $1-$1.25 cent price limit. They have these new stores that they've been opening, basically Dollar Tree 3.0, and they're selling items for $3, $5, $7. These types of locations are seeing a really significant boost in sales compared to some of those old-school stores. I think it shows that shoppers are willing to pay a bit more for better stuff. Obviously, their prices are keeping up with the pace of inflation, so to speak. But it also provides an alternative to some of those big box retailers. Their profits came in at $2.56 a share. It was a little bit better than Wall Street expected.

Now, management said, we're dealing with higher tariffs on goods that are coming from overseas. They're dealing with issues like retail theft. But one of the things I think we could take away from this as investors, whether or not you are excited by the idea of investing in Dollar Tree, is that the macro environment is in something of a trade down phase. People have jobs, people are spending money, but they are hunting for every bargain they can find to stay ahead of rising costs, and that's really apparent in Dollar Tree's results.

Jon Quast: I think that people underestimate how strong a business like this is. When sales at retail chains, existing locations, when they go up from one year to the next, that is measured with a metric called same store sales. Looking at Dollar Tree, its same-store sales have increased for 20 consecutive years, and its guidance for 2026, it expects further gains. Extending that to 21 consecutive years. That's actually incredibly strong for a retail chain. To Rachel's point here, it's not just that there are more people shopping there. In fact, traffic is down, but the gains are coming from those higher price points that Dollar Tree is starting to be able to access with those $3 $5 $7 price points that she mentioned. Matt, I think here my question for you, in light of everything that we just looked at, is there some high level takeaways that we can take from here about the consumer or about the economy? What are some things that this is signaling to you as an investor?

Matt Frankel: We're definitely seeing consumers squeeze. Discount-oriented retailers, they tend to perform their best in times when consumers really need to cut back on spending, and it's been a while since we had a time when people had to do that. I don't even count, like, the 2020 COVID shutdowns because there was so much stimulus being pumped into the economy, and people cashed those checks, and we're still buying things. But if we think back to 2008, which is included in that 20-year period Jon mentioned, where they increase same-store sales, that was the worst year economically for consumers in the past quarter century, hands down. That year, the S&P 500 declined by 37% in that year. The worst single-year performance in a really long time, Dollar Tree's stock increased by 61% in 2008. There were very few parts of the market that were working that year that give credit where it's due.

Dollar Tree has done a great job of growing those same store sales, as Jon mentioned, regardless of what was going on, weak economy, strong economy, inflation, pandemic, high interest rates, low interest rates, whatever. But it's been a long time since we've seen a period where consumers were really squeezed. This is a stock that's really set up to perform well in such an environment. Of course, if we do get a recession or other economic weakness, there's no guarantee that Dollar Tree is going to perform well. As Rachel mentioned, they're focusing on, I want to say high price points, but definitely higher than their traditional $1.25 limit. That remains to be seen how well that would react in a recession or something like that. Tariff uncertainties another really a headwind. The suburban treasure hunt characteristics, as Rachel mentioned, that gives it a really nice tailwind in tough times when people who would typically shop elsewhere, need to find a way to cut back, and Dollar Tree's really well positioned for that.

Jon Quast: When we come back, we're going to peel back the curtain a little bit and take a look at something that we consider when we are looking for stocks to invest in for the long term. You're listening to Motley Fool Money. Welcome back to Motley Fool Money with the Hidden Gems team. For our show today, listen, we're going to acknowledge that the news is a little bit lighter today, but we see this as an opportunity. We'd like to talk about some high-level ideas and thoughts about a stock to invest in, and this gives us an opportunity to do that. We all work for the Hidden Gems team. There are several factors that go into our process for picking which stock to buy. One of the things that we do look at as a team is the leadership of a company. We really like it when there is a visionary leader or somebody who really believes in the thing that the company is doing from a very big picture perspective. I guess I just want to put this question to both of you. Why is leadership something that can make a difference in an investment?

Rachel Warren: Yeah, I mean, I think it's really important to understand when you're investing in companies that are led by long term founders or leaders with significant ownership, it really matters because it does fundamentally change how the company makes decisions. For many founders, the company is their legacy. It's not just a job. That ownership mindset means they tend to personal responsibility for costs and risks that a hired CEO might ignore to protect their own career or otherwise. This is obviously not true in every case, but it's interesting because long-term believers, long-term founders, often have that fortitude to endure really the difficult work of growing the company, maybe dealing with years of thin margins or high R&D spending to build a more durable future that rewards shareholders in the long run. There's actually data that backs this up. There's research that shows that S&P 500 companies with active founders have outperformed the rest of the index by more than three times over a 15-year period. I do think that one of the key takeaways is high insider ownership, and ensures that a leader's financial interests are aligned with ours as shareholders. When they're losing money, we're losing money, it keeps them focused on the fundamentals, and I think that's something that's really important to look for as investors.

Matt Frankel: Yeah, I mean, I love businesses that are founder led or led by a person who has what I call a founder's mentality. It doesn't necessarily have to be the person who actually started the business, just one who treats it like they did. These types of leaders, they view long-term growth, total returns for their investors, and responsible capital allocation as kind of a personal report card on their progress. Having skin in the game, as Rachel mentioned, is certainly a big factor, but right now, I can name founder-led businesses where the leader still owns 65% of the company and some where they barely own 1%, if that. In my mind, the real X factors is how much founders tend to have a long-term mentality as compared to those who were a hired CEO. It can actually work against returns in the short run because these type of leaders tend to sacrifice short-term returns for durable profits, which could be a great investment opportunity for our hidden gems methodology. When you're looking at the long-term investment results, this is a big reason why founders tend to outperform.

Jon Quast: We don't just want to talk about it. We want to do show and tell here for this episode. I thought as a closing question for both of you again, what is a company that has a leader that really has this sort of X factor component, something that we'd look for in a leadership team?

Rachel Warren: I mean, I think one really kind of notable example, you look no further than Jensen Huang, co founder and CEO of Nvidia. He bet the company on its CUDA software platform and specialized AI chips long before the world knew what a large language model was. That really relentless focus has turned Nvidia into the backbone of global AI infrastructure. I think it is an example of a situation where you have a leader who's obsessed with staying deeply connected to the inner workings of the company and how that can create a really really robust competitive mode. One other example I'll give you have the TransMedics Group, the founder and still CEO, Dr. Waleed Hassanein, he founded the company back in the 90s with the goal of revolutionizing organ transplant therapy. Their organ care system is becoming the new standard of care for preserving human organs for transplant. A couple examples that come to mind.

Matt Frankel: Yeah, Rachel's right. Nvidia is the textbook example, but there's something to be said about the fact that three of the MAG seven companies, trillion-dollar businesses are still found or led today. Netflix and Amazon were founder led until not very long ago. And I'd even go so far as to say that Tim Cook at Apple has what I would consider a founder's mentality when it comes to running that business. But one example that comes to my mind from my own portfolio is Tobi Lütke, CEO of Shopify, who co-founded that business 20 years ago, after personally realizing that solid e-commerce software was a massively underserved market opportunity. I think he had an online snowboarding shop and built his own software. He's a self-taught programmer. He had no prior leadership experience, which makes more impressive. But he's grown Shopify from nothing into a platform that has a greater e-commerce market share than Walmart, Target, and Costco combined. It's a really impressive business, and that's one, founder leader that I'm very happy to invest in.

Jon Quast: To all of our listeners out there, we appreciate you joining us today. That is all the time we have for this episode. I'm Jon Quast. Thank you so much to Rachel and Matt for sharing their thoughts. Thank you to Dan Boyd and the rest of the production team behind the glass. As always, people on the program may have interest in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. All personal finance content follows Motley Fool Editorial standards and is not approved by advertisers. Advertisements are sponsored content and provided for informational purposes only. To see our full advertising disclosure, please check out our show notes. Thanks to our producer Dan Boyd and the rest of the Motley Fool team for Rachel, Matt, and myself. Thank you for listening, and we'll chat again soon.

Jon Quast has positions in Dollar General. Matt Frankel, CFP has positions in Digital Realty Trust and Shopify and has the following options: short January 2027 $170 calls on Shopify. Rachel Warren has positions in Apple and Shopify. The Motley Fool has positions in and recommends Apple, Costco Wholesale, Digital Realty Trust, Meta Platforms, Nvidia, Shopify, Target, TransMedics Group, and Walmart and is short shares of Apple. 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.

Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

Zusammenfassung

Mittwochs Aktienmarkt erlebte einen “risk-on” Tag, der durch positive Wirtschaftsdaten und eine mögliche Verschiebung der Lage im Iran-Konflikt angetrieben wurde. Nach zwei Tagen intensiver Verkäufe reagierten die Anleger positiv und trieben die großen Indizes nach oben. Der Nasdaq führte das Feld der Gewinner an, mit einem Anstieg von 1,41 %, gefolgt vom Russell 2000 Small-Cap-Index mit 1,19 %. Der S&P 500 stieg um 0,89 %, und der Dow Jones Industrial Average erzielte ebenfalls einen starken Gewinn.

Ein wichtiger Faktor, der die Marktstimmung beeinflusste, war die Erwartung der Veröffentlichung am Freitag der US-Arbeitslosenzahlen (Non-farm payroll), die als entscheidender Indikator für die wirtschaftliche Gesundheit gilt. Die vorherigen ADP-Arbeitszahlen hatten bereits positive Erwartungen geweckt.

Über die Wirtschaftsdaten hinaus spielten geopolitische Entwicklungen eine Rolle. Gerüchte über geheime Verhandlungen zwischen dem Iran und dem CIA zur Beilegung des Konflikts trugen zu dem Vertrauen der Anleger bei und lösten eine Umkehrung des Futures-Handels aus.

Die Anleihemärkte erlebten eine Umkehrung des jüngsten Abwärtstrends. Nachdem zwei Tage lang verkauft worden waren, traten Käufer ein und senkten die Renditen über die gesamte US-Anleihekurve, wobei kurzlaufende Anleihen die größte Nachfrage aufwiesen.

Der Energiesektor zeigte Anzeichen einer Erholung, wobei die Preise für Brent Crude und West Texas Intermediate stiegen, obwohl der Anstieg durch anhaltende Handelsaktivitäten gedämpft wurde. Die Gaspreise fielen aufgrund ungewöhnlich warmer Temperaturen.

Gold- und Silberpreise erholten sich moderat nach heftigen Verkäufen am Dienstag, was auf eine Stabilisierung der Bewegung innerhalb des Edelmetallmarktes hindeutet.

Der Kryptowährungsmarkt erlebte einen deutlichen Anstieg, der hauptsächlich durch den politischen Zügelknacksen im Zusammenhang mit dem Clarity Act angetrieben wurde, der von Donald Trump unterstützt wurde. Bitcoin überstieg 73.000 US-Dollar und erreichte seinen höchsten Stand seit fast einem Monat, während Ethereum ebenfalls einen erheblichen Anstieg verzeichnete.

Analystenbewertungen & Aktualisierungen

Der Artikel enthielt auch eine Übersicht über aktuelle Analystenbewertungen und Initiierungen. Goldman Sachs hob AIG und LyondellBasell hoch, während Marriott Vacations Worldwide und MongoDB "Outperform"-Bewertungen erhielten. Citigroup hob Seadrill hoch. Umgekehrt wurden Allstate, American Airlines, Edison International, Meta Platforms und StubHub herabgestuft. Mehrere Aktien wurden mit Kaufbewertungen initiiert, darunter Astera Labs, Block, CoreWeave, Digital Realty Trust und Mastercard.

Wichtigste Erkenntnisse

Die Tagesperformance des Marktes wurde hauptsächlich durch vorsichtige Optimismus und die Veröffentlichung positiver Wirtschaftsdaten sowie durch eine bemerkenswerte Verschiebung der geopolitischen Stimmung getragen. Der bevorstehende Bericht über die Arbeitslosenzahlen (Non-farm payroll) gilt als entscheidendes Ereignis, das die Richtung des Marktes in den nächsten Tagen prägen könnte. Schließlich hat ein prominenter Analyst eine Liste von 10 KI-Unternehmen zusammengestellt, an denen er glaubt, dass sie erhebliche Investitionsmöglichkeiten bieten, was das wachsende Interesse der Anleger im Bereich der künstlichen Intelligenz widerspiegelt.

Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

Key Points

Digital Realty counts some of the world's largest tech companies among its customers. Equinix owns data centers in 77 metropolitan areas across 36 countries. Iron Mountain had a strong third quarter, but the company was recently the subject of a short report.10 stocks we like better than Digital Realty Trust ›

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In the world of artificial intelligence (AI) stocks, a significant amount of investor interest gets focused on the chipmaking side of the industry. That's understandable, as some of the most important players in the space operate in those businesses.

Nvidia, Broadcom, Advanced Micro Devices, Apple, and Qualcomm are all steadily working on designing more powerful chips. Foundries such as Intel, Samsung, and Taiwan Semiconductor are competing for market share in chip manufacturing.

But I'm not convinced that's the best way for investors to go today. Investing in AI infrastructure is also a sound strategy, and one that can be potentially lucrative. Grand View Research estimates that the AI infrastructure market, which was worth $35.42 billion in 2024, will grow at a compound annual rate of 30.4% through 2030 to reach $223.45 billion.

If you are looking to expand your investments in AI but want to diversify your portfolio away from chip stocks, I think one of the best choices you can make is to invest in data centers. And there are real estate investment trusts (REITs) that can help you do that, and which will earn you a small but consistent revenue stream at the same time.

Here are three ways to play the data center REIT space.

Image source: Getty Images.

1. Digital Realty Trust

Digital Realty Trust(NYSE: DLR) is a massive REIT -- the fifth-largest publicly traded REIT in the U.S. It owns more than 300 data centers located in over 50 metropolitan areas across North America, Europe, Asia, and Australia. And some of the biggest tech companies are Digital Realty customers, including Microsoft, Amazon, Nvidia, Alphabet, Oracle, and International Business Machines.

In the third quarter, its revenue rose 10% year over year to $1.6 billion. Earnings were $64 million, or $0.15 per share, versus $0.09 per share a year prior.

Because it's a REIT, Digital Realty is required to distribute 90% of its earnings every year to shareholders in the form of dividends. That's why, at its current share price, Digital Realty offers a yield of 3%. Its next payout of $1.22 per share will be distributed on Jan. 16 to shareholders of record as of Dec. 15.

2. Equinix

Equinix(NASDAQ: EQIX) is also seeing rapid growth in its data center market. The company reported $395 million in annualized gross bookings for the third quarter, a 25% year-over-year increase and a 14% increase from the second quarter. Equinix currently has the ability to grow its footprint to about 3 gigawatts worth of computing power, and plans to double that capacity by 2029.

The company operates 273 data centers in 77 metropolitan areas across 36 countries. Revenues from North America and South America, which make up the largest portion of the company's sales, rose 8% year over year in Q3. Revenues from Europe, Africa, and the Middle East increased by 6%, while sales from the Asia-Pacific region dropped by 1%. Total revenue of $2.31 billion was up 5% from last year.

Net income of $374 million was up by 26% from the prior-year period, and earnings per share rose 23% to $3.81. Management attributed the jump to higher income from operations.

At the current share price, the stock's dividend yields 2.4%. The next payout, set at $18.76 per share, will be distributed on Dec. 17 to shareholders of record as of Nov. 19.

3. Iron Mountain

Iron Mountain(NYSE: IRM) began as a records storage provider, but has since expanded its reach into electronics and data centers. It now owns more than 30 data centers providing a total of 1.2 gigawatts of computing power, with locations in the U.S., Europe, India, and Singapore.

The company's third-quarter results, which it delivered Nov. 5, were solid. Its revenues rose 12.6% year over year to a record $1.8 billion. And collectively, its data center, digital, and asset lifecycle management businesses grew by more than 30%.

Net income of $86 million was a stark improvement from its $33.7 million loss in Q3 2024. Adjusted funds from operations rose 18% to $393 million.

However, the stock dipped by 5% on Nov. 19 after Gotham City Research announced it had taken a short position in the company.

Despite this, Iron Mountain expects to close the year strong. It's guiding for full-year revenue in the range of $6.79 billion to $6.94 billion. At the midpoint, that would be a 12% improvement from 2024. The company also says it expects 25% growth from its data center business in 2026.

At the current stock price, Iron Mountain's dividend yields 3.8%. Its next payout of $3.46 per share will be distributed on Jan. 6, 2026, to shareholders of record as of Dec. 15.

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Patrick Sanders has positions in Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Apple, Digital Realty Trust, Equinix, Intel, International Business Machines, Microsoft, Nvidia, Oracle, Qualcomm, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and Iron Mountain and recommends the following options: long January 2026 $395 calls on Microsoft, short January 2026 $405 calls on Microsoft, and short November 2025 $21 puts on Intel. 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.