J.P. Morgan Asset Management added a bitcoin forecast to its Long-Term Capital Market Assumptions for the first time. This is the 31st edition of the annual report. Its 10-year base case for BTC is a 10% compounded return with 55% volatility. That is 2.5 points above its 7.5% estimate for US large caps and 4.5 points above its 5.5% estimate for gold. JPM still does not treat BTC as a portfolio diversifier. It points to unstable correlations and high volatility, and its bear case is -11.2% a year.

J.P. Morgan: We expect A14 to go into mass production in 1H28, which could generate some revenue in 2H28. We believe the tight leading edge wafer supply will extend into 2027-208 and expect TSMC to continue its accelerated capacity build plans into 2028. $TSM

J.B. HUNT $JBHT Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $3.68B (Est. $3.56B) 🟢; +20% YoY 🔹 EPS: $1.82 (Est. $1.81) 🟢; +3% YoY 🔹 Operating Income: $247.09M; +2% YoY FY26 Guide: 🔹 Annual Tax Rate: ~24.0% Segment Revenue: 🔹 Intermodal: $1.83B; +20% YoY 🔹 Dedicated: $960M; +11% YoY 🔹 ICS: $434M; +57% YoY 🔹 FMS: $200M; -3% YoY 🔹 Truckload: $261M; +37% YoY Other Q3 Metrics: 🔹 Intermodal Loads: 585,582; +8% YoY 🔹 Intermodal Rev/Load: $3,121; +11% YoY 🔹 DCS Rev/Truck/Week: $5,732; +10% YoY 🔹 ICS Gross Margin: 14.3% Key Updates: 🔹 Revenue excl. fuel surcharge: +13% YoY 🔹 Share Repurchases: ~704,000 shares for ~$174M 🔹 Debt Outstanding: ~$1.12B Comments: 🔸 “I want to thank our people for their unwavering commitment to serving our customers, operating safely and executing with excellence every day.”