Loftus Peak News Today

One early backer of Elon Musk’s electric vehicle manufacturer said it was hard to see it as a growth stock “when the world’s car industry is coming at you”.

Shareholders are preparing to wipe around $US200 billion ($308 billion) of the social media’s giant’s value, despite better than expected earnings this year.

When Loom’s CEO first met Atlassian’s Scott Farquhar he wasn’t interested in selling, but four years later Atlassian bought his company at a $790m discount to it’s 2021 valuation.

Shares in the chipmaker have soared 10 per cent in after hours trading after the chipmaker smashed earnings expectations in the January quarter.

Never in big-tech history has a large player doubled its revenue for three years running. Chipmaker Nvidia’s results this week may point to it happening.

Profit results from five of the magnificent seven tech stocks have underscored their dominance. But there are differences in the outlooks and valuations investors must study. 

The data is in and while a Regal fund eked out the top spot among Australian equity managers last year, its returns were dwarfed by those betting big on crypto and AI.

Having steered its own global disruption fund to a stellar 2023, Loftus Peak will now replace Orca Funds Management as investment manager of its remaining strategy.

A big money acquisition of Brisbane tech firm Reekoh by US giant Autodesk could signal the start of a rush of deals and a period of consolidation in the sector.

Even without the M&A blitz, the veteran fundie is on a tear. From Macquarie analyst to trader, his investment house is now targeting funds of $15 billion.