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Look at the robotaxi partnership map closely in 2026, and the pattern that keeps emerging is one of constant reshuffling. Uber Technologies Inc. (UBER) and Alphabet’s (GOOG) Waymo confirmed their robotaxi pilot in Phoenix, Arizona, has ended, Reuters reports. The companies framed it not as a failure, but as a graduation.The pilots end, exclusivity deals shift, and new cities are added almost weekly. The Uber and Waymo news fits that pattern, but the reasoning behind it tells you something important about where this industry is actually heading.”Phoenix was our first pilot market with Waymo and was an intentionally limited deployment, reaching just over a dozen vehicles dedicated to the program,” Uber said in a statement.”We learned a lot from that collaboration, which helped us to quickly scale Austin and Atlanta, where hundreds of Waymo AVs are available exclusively on Uber.”The Phoenix-deployed Waymo vehicles are not being retired, but are pivoting to autonomous deliveries through DoorDash — a competitor to Uber Eats. Waymo called the pilot “productive” and said it “paved the way for future expansions and partnerships across the globe.”Also Read: History of Uber: Timeline and FactsWhat the end of Phoenix pilot actually signalsMy read of this announcement is that it is less about Phoenix specifically and more about how both companies are managing their broader relationship.Automotive World reports that Waymo operates a fleet of approximately 4,000 automated vehicles across the U.S. Waymo also reports that today, Waymo’s driverless rides are available exclusively through Uber in just Austin and Atlanta. More Uber:Uber reveals an unexpected problem behind the AI boomUber CEO, COO sends stark message on AI spending in 2026Uber Eats will now deliver more than just food to youIn nine other markets, including Phoenix, San Francisco, Los Angeles, and Miami, riders access Waymo primarily through its own app, Waymo reports. Uber said it plans to partner with another AV company in Phoenix, though it did not disclose which one.That detail is key. Uber is not exiting Phoenix’s autonomous vehicle market but is diversifying who it works with there. CEO Dara Khosrowshahi has been explicit about this strategy. In the company’s Q1 fiscal 2026 earnings call transcript compiled by Investing.com, the CEO touted partnerships spanning from Rivian to Zoox, China’s Pony.AI, Croatia’s Verne, and Waymo. Related: Waymo responds to viral video showing weird vehicle behavior”AV Mobility trips on Uber increased more than 10x year over year, and we are now live in eight cities, with plans to expand to up to 15 by year-end,” Khosrowshahi said, according to Investing.com.Uber’s strategy has been clear from the start: Become the indispensable demand-aggregation platform that every robotaxi operator needs, rather than betting on any single AV developer winning. Tesla remains the one major holdout because its robotaxi service is still operating with just 69 registered vehicles in Texas, a fraction of Waymo’s scale, Benzinga reports.Why this matters for Uber’s businessUber’s Q1 fiscal 2026 results show why the AV partnership strategy carries real financial weight, according to the company’s May 6 earnings release.Gross bookings grew 25% year over year to $53.7 billion. Trips grew 20% to 3.6 billion, driven by Monthly Active Platform Consumers (MAPCs) growth of 17% YoY and monthly Trips per MAPC growth of 3% YoY, according to Uber’s Q1 fiscal 2026 report.Related: Uber, Lyft use AI to charge riders more, CR saysEvery AV trip that runs through Uber’s app, regardless of which company built the car, contributes to that gross bookings figure and reinforces Uber’s positioning as the layer that connects rider demand to autonomous supply.The expansion pipeline beyond Phoenix is accelerating. WeRide and Uber are launching a commercial robotaxi service in Zurich. Nuro, Lucid, and Uber are bringing robotaxis to Houston in 2027. WeRide, Uber, and AVOMO launched in Madrid on June 2. Each new city adds to the thesis that Uber wins, no matter which AV technology ultimately dominates.

Waymo completes more than 500,000 paid trips weekly.John Keeble/Getty Images

The Waymo side of the story is backing the expansionFor Waymo, the Phoenix pilot’s end frees up vehicles for the DoorDash delivery experiment while the company continues its own direct-to-consumer scaling, now live in Phoenix, San Francisco, Los Angeles, Austin, Atlanta, Miami, Dallas, Houston, San Antonio, and Orlando, completing upwards of 500,000 paid trips weekly, Waymo reports.Alphabet CEO Sundar Pichai highlighted that milestone directly on the company’s Q1 2026 earnings call.I’m pleased to see Waymo surpass 500,000 fully autonomous rides a week.Alphabet funded the significant majority of a $16 billion investment round for Waymo in February 2026, underscoring how central the robotaxi business has become to the parent company’s growth story, even though Waymo itself remains privately held within Alphabet.A June 24 Waymo safety report adds context for why regulators and partners keep expanding access. Across more than 220 million autonomous miles analyzed through March 2026, Waymo vehicles were involved in 94% fewer crashes causing serious or fatal injuries and 82% fewer crashes involving any reported injury compared to human drivers in the same areas. In Atlanta specifically, one of its newest markets, Waymo logged zero serious-injury crashes across 5.4 million autonomous miles, versus an expected 1.2 for human drivers covering the same distance, according to the Waymo report.That safety data is precisely what gives Uber’s multi-partner AV strategy its long-term credibility. This is also what makes Phoenix’s transition look less like an ending and more like both companies moving on to the next phase of a much larger rollout.Related: Waymo brings traffic to a standstill in major American city

I bought my first home in 2022, attempting to purchase property before the rock-bottom mortgage rates from the Covid pandemic soared beyond reach.Apparently, everyone else in the greater Seattle area had the same idea. So did real estate investors.I tried buying six different houses that spring, but most of those times, investors beat me out with high down payments or all-cash bids. It was grueling to be a first-time homebuyer in an expensive, competitive housing market, especially when I could only afford to put 3% down.First-time homebuyers have a tougher time buying a house than people buying second homes or investment properties, according to research by the Federal Reserve Bank of St. Louis.And although first-time buyers face the brunt of the hardship, they aren’t the only ones struggling. After combing through Home Mortgage Disclosure Act (HMDA) data, the St. Louis Fed uncovered a surprising statistic.Your mortgage application is more likely to be denied if you’re buying any primary residence you plan to live in — not just your first home — than a second home or investment property.Higher borrowing standards don’t deter certain homebuyersAfter calculating numbers pulled from 2018-2024 HMDA data, the St. Louis Fed found that mortgages for investment properties were the most likely to be accepted, second residences were the next most likely, and owner-occupied primary residences came in dead last. The exception was 2024, when second and investment properties swapped — but principal homes were still third.Why is this mortgage denial statistic surprising? Because people buying second homes and investor properties don’t benefit from more lenient borrowing requirements.Actually, the opposite is true.To buy a home other than your primary residence, a mortgage lender typically requires a larger down payment, lower debt-to-income (DTI) ratio, and more cash reserves.Related: Redfin sees shift in housing market, home pricesBut these high standards don’t deter people buying second houses and investment properties. Because, in general, buyers in the position to buy these types of homes are more financially well off.This makes them less risky mortgage applicants.In 2024, the median down payment from those buying a primary residence was 9%, according the St. Louis Fed’s research. For people buying second homes or investment properties, it was 25%.Primary home buyers’ median DTI ratio was 41%. Second-house buyers’ median DTI ratio was 36%, and investment property buyers’ median was 37%.”These buyers of nonprimary residences don’t just sit below underwriting thresholds; they sit comfortably far from them,” wrote St. Louis Fed Associate Economist Manu Garcia and Director of Research Carlos Garriga. “This segment of the market is effectively insulated from the disqualification channel.”

Mortgage lenders receive stronger applications from those buying second residences or investment properties.Witthaya Prasongsin / Getty Images

Mortgage rates present an even greater disadvantage”These applications remain mechanically safe even as interest rates rise,” Garcia and Garriga wrote, referring to second-home and investment-home applications. “That makes their approval almost a mathematical certainty.”A June study by real estate technology Redfin revealed that monthly mortgage payments had reached their highest point in a year. The average hit $2,647, just $100 under the 2023 high.More Mortgages:6.5% mortgage rates give homebuyers unexpected opportunityMortgage rate outlook shifts after inflation updateZillow releases crucial new housing market predictionMortgage rates have sat around 6.5% for six weeks, according to Freddie Mac. Rates are a major reason housing payments have hit this record high.Your monthly mortgage payment affects affordability in two ways. The more obvious one is that the payment may simply be too high for you to comfortably buy a house within your budget.The second is that if your monthly mortgage payment is too high, it ups your DTI ratio, and mortgage lenders are less likely to approve your application.First-time homebuyers face more hurdles than repeat buyersThe numbers already favor investors over families buying primary residences. But the deck is stacked against first-time homebuyers in particular.All of the borrowing criteria mortgage lenders look at — income, DTI ratios, down payments — are even tougher for the typical first-time buyer than people who are simply moving and buying a primary residence for the second or third time.The average down payment for first-time homebuyers was 10% in 2025, according to the National Association of Realtors, while repeat buyers’ average was 23%. A lower down payment means lower collateral. Everything else being equal, if an investor or second-home buyer applied for a mortgage with 25% down, a repeat buyer with 23% down, and a first-time homebuyer with 10%, the mortgage lender probably isn’t going to choose the applicant with less than half for a down payment than the others.People buying second residences and investment homes typically use conventional loans, but first-time buyers are more likely to use FHA loans.You don’t have to be a first-time buyer to qualify for a mortgage backed by the Federal Housing Administration, but these loans have unofficially been dubbed “first-time homebuyer loans.” Eight out of 10 FHA loan borrowers were first-time buyers from 2020-2024, according to the U.S. Department of Housing and Urban Development.FHA loans come with a lot of perks, but they also present their own challenges.Not all mortgage lenders offer FHA loans, narrowing first-time buyers’ options for which companies they can use. FHA loans also charge mortgage insurance premiums (MIPs), and this extra charge increases an applicant’s DTI ratio.”In this environment, a rise in interest rates does more than increase the cost of debt; it triggers a cascade of institutional barriers that effectively closes the door on homeownership,” Garcia and Garriga wrote. “For this segment of the market, the ‘stacked deck’ means that even small shifts in the macroeconomy can lead to a total loss of credit access.”Tips for first-time homebuyersThe St. Louis Fed authors claimed that policy changes were necessary to address the home-buying problems facing people with less wealth.But until some policy takes effect, what can first-time homebuyers do to increase their changes of mortgage application approval? Here are some tips:Shop with several mortgage lenders. Apply for prequalification or preapproval with several lenders to see which will accept your application and offer you the best deal. Try applying with different types of companies, such as bank and non-bank lenders.Compare conventional and FHA loans. When evaluating lenders, talk to their loan officers about whether you qualify for a conventional loan. If so, ask them to pull up estimated costs for a conventional versus FHA loan so you can see the cost differences.Save more for a down payment. This may be easier said than done, but it can be a crucial part of competing with other types of buyers. It might just mean waiting another six months or a year to buy a house.Pay down debts. By reducing your monthly debt obligations, you’ll lower your DTI ratio. This leaves more wiggle room should you, say, need to get an FHA loan that charges monthly mortgage insurance premiums.Search for creative homebuying solutions. High home prices and mortgage rates have made it difficult to get your foot in the door as a homeowner. Consider an outside-the-box strategy like co-buying with a family member or friend. This approach allows you to combine incomes on your application and pool your money for a higher down payment.Related: Berkshire Hathaway says to ignore this home-buying red flag

CLEAR Secure has made millions by selling frequent flyers a “fast pass” for airport security lines. In just a few days, the price to skip the line will be going up … again.For the fourth time in roughly four years, the company will raise its CLEAR® Plus subscription by $10, with the billing changes taking effect on Jul. 1. Since May 2022, the price of the airport subscription has gone from $179/yr to $219/yr. It remains to be seen how these changes might impact the price of the company’s Family plan.Why is CLEAR getting more expensive?In May, CLEAR reported that it now served 8.2 million active subscribers across 60 U.S. airports. Growth was also accelerating, as the number of paying CLEAR+ members grew 13% year-over-year, an improvement from the prior quarter.CLEAR has grown despite its previous efforts to raise prices. Since May 2022, CLEAR has raised the price of CLEAR+ four separate times. Despite that, more users have signed up. To meet those demands, the company has invested heavily in new eGates intended to reduce labor and corral known travelers through security lines even faster.Undeniably, its investments in new operations, technology, and its ability to retain paying users have been major factors in reinforcing price increases. However, we reached out to CLEAR to better understand the underlying reasons for the price increases and whether consumers should get used to the plans rising in price every year. They have not yet responded to comment.Is there a way to offset the higher CLEAR price?Despite rising subscription fees, there are ways that frequent flyers can blunt the impact of higher prices. In fact, there are two ways to reduce the higher subscription fee, including one that can negate it almost entirely.Airline status buys you a discount (sorta)For years, airlines like Delta, United, and Alaska Airlines have offered a way to get reduced-price CLEAR subscriptions if you have frequent flyer status or a cobranded credit card. This is sticking around, even though the price is going up.Alaska Airlines will offer plans for $209/yr, along with a kickback in the form of points for all Atmos status holders. This will be what casual, non-status holding SkyMiles and MileagePlus customers can expect to pay as well.However, just having a cobranded Delta or United Airlines card can help frequent flyers save up to $40 off their annual membership, which would make it $179/yr going forward (assuming no other changes.)Status will buy you the same discount at Delta and United, as the $179/yr price will also apply to those with United’s Premier Silver, Gold, and Platinum, as well as Delta’s Silver, Gold, and Platinum Medallion. The biggest loss will be for Delta Diamond Medallion, though, who will no longer get a membership for free; they’ll pay $129, just like United’s Premier 1Ks.Above that, Delta 360 and United Global Services still get a courtesy membership — a lucky bunch.Amex cardholders, rise upIn February, CLEAR renewed its “multi-year partnership” with American Express, which offers CLEAR+ as a benefit on products such as the American Express® Green Card, American Express Platinum Card®, or the Business Platinum Card® from American Express. (Rates and fees apply.)It is, without a doubt, the “cheapest” way to get a Clear Plus membership. And if you have a CLEAR+ Family plan, you can stack it with airline status to save on additional family members.American Express has historically raised the cash value of the benefit to cover the full price of CLEAR+. We reached out to American Express to hear if this would be the case for this price increase, as it has been in the past. A representative for Amex shared:”Starting July 1, 2026, eligible American Express Card Members can receive up to $219 in statement credits per calendar year (up from $209) when they use their eligible Card to purchase an annual CLEAR+ Membership. The benefit will also be renamed the $219 CLEAR+ Credit. Terms apply.”How has Clear Secure been performing on markets?CLEAR Secure ($YOU), the company that operates CLEAR’s expedited airport security operations and a sprawling online biometrics-based security business, has doubled over the last 12 months on Wall Street.That growth has come amid the launch of its new eGates, which have opened up a new, faster line for the company’s airport travelers. It also comes as CLEAR continues to push into new enterprise functions such as identity and biometric verification.Its recent ascent has pushed the firm back to all-time highs, with a valuation of roughly $6 billion.Terms apply to American Express benefits and offers. Enrollment maybe required for select American Express benefits and offers. Visitamericanexpress.com to learn more.

Amazon does not operate gas stations, so it generally can’t compete with Costco’s low-priced gas pumps. The gas stations at the membership-based chain drive members to its warehouses, which leads to them going into the stores.Costco CEO Ron Vachris said during the company’s fiscal Q3 earnings call that gas customers tend to become higher-value members over time.”We believe this will drive even greater loyalty with these members in the future as members who use our gas stations typically spend more with us in the warehouse,” he shared.Costco’s fuel operations are widely viewed as traffic-driving amenities that encourage more frequent in-store shopping. Retailers are competing for a larger share of household discretionary spending, particularly around seasonal events like Independence Day.Now, Amazon has a new holiday deal for Prime members that might keep them from making the trip to Costco,Amazon offers a chance for a cheap fill-upHaving just passed Prime Day, Amazon wants to keep its sales momentum up as the Fourth of July holiday approaches.”87% of consumers plan to celebrate the Fourth of July in 2026 and spend a record average of $94.41 on food items,” according to the National Retail Federation Fourth of July 2026 report.In addition, the study shows that 62% of people celebrating will do so with a barbecue or picnic, which creates sales opportunities for both Amazon and Costco. By giving Prime members a chance to fill-up at a gas station that might be closer to home than Costco, the retailer could win more of the sales connected with those celebrations.Amazon explained how the deal works on its website.”Prime members can link their Amazon account to Earnify and save 50¢ off per gallon July 2-5 only (one-time use). Simply enter your phone number or use the Earnify app at 7,500 bp, Amoco, and participating Thorntons locations. Before July 2, Prime members save 10¢ per gallon,” the company shared.Joining Earnify gives members a baseline savings of $0.05 per gallon with Amazon offering to match that until July 2, when an additional $0.40 per gallon will be offered until the end of the day on July 5.”Once the promotional period concludes, Prime members will be able to access a total of 10¢ off a gallon at participating stations,” Amazon shared.Amazon framed the promotion as part of its broader summer savings strategy.”Summer is a time for making memories, and Prime is here to make the entertaining more affordable,” said Amazon Vice President Carmen Nestares in a press release. “…this July 4 holiday we’re excited to introduce $0.50 per gallon fuel savings.”The retailer is also offering Prime members a $5 monthly grocery credit from July through September, applied automatically at checkout on orders of $25 or more, up to $15 in total savings.Gas prices have fallen but remain high”Drivers are continuing to see relief at the pump as the national gas price average declines for the fifth consecutive week. Today’s national average is $3.91 per gallon. Crude oil prices have also continued to fall as the U.S. and Iran work toward a long-term deal,” according to AAA. Despite lower prices, demand could rise as a record number of Americans prepare to travel for Independence Day weekend, with 85% planning to drive to their destinations.June 29 National Average: $3.918One Week Ago: $3.999One Month Ago: $4.507One Year Ago: $3.227

Costco gas stations can only be used by members and they do not take cash.Shutterstock

Costco keeps it simpleWhile Amazon’s deal may be enticing for non-Costco members, RTMNexus CEO Dominick Miserandino won’t see its customers go elsewhere because the warehouse club makes getting low prices easy for members.“Costco wins because its value proposition is completely frictionless. You show your card, and you get the lowest price in town immediately,” he told TheStreet.More Costco:As consumers struggle, Costco sets a troubling recordCostco makes an even bigger bet on its house brandCostco just lowered prices on key itemsHe was critical of a recent Kroger promotion which, like the Amazon deal, required steps beyond just tapping your membership card on the pump. “Kroger’s model requires digital coupon clipping, tracking specific calendar windows like ‘4X Fridays,’ and monitoring point balances. In a tight economy, convenience-fatigued consumers eventually reject complex loyalty gamification,” he added.Miserandino does think the gas promotion will be seen as a positive by Prime members.”In this economy, gas is king and it’s a good way to increase loyalty,” he wrote. Americans do want gas savingsConsumers are looking to save money on gas, and high gas prices are forcing them to cut back in another area, according to a Numerator survey of more than 1,000 U.S. consumers. Key findings included:93% of drivers are trying to save money on gas.36% choose stations based on price over convenience.61% say gas prices are impacting ability to afford other expenses.With gas prices averaging more than $4 per gallon, BMO Capital Markets Senior Economist Sal Guatieri explained that most Americans will have to spend less in other areas.“Apart from undermining confidence, the increase will erode spending power, particularly for lower-income households. Gasoline and other fuels account for 2% of U.S. personal consumption, so the price increase, if sustained, could cut annual spending by about 0.7%. That works out to more than $1,000 for the average American household,” he wrote.Related: Ulta Beauty is leaving Target, here’s what’s replacing it

The biggest moves in a stock rarely start where investors are looking. They start in places that never reach the U.S. business pages.Right now, Wall Street is fixated on one name above almost all others. SpaceX (SPCX) went public on June 12 in the largest initial public offering in history, and the part of the business doing the heavy lifting is not rockets.It is Starlink’s satellite-to-phone service, the technology that turns an ordinary smartphone into a device that can text and call straight through space.That service crossed 10 million subscribers earlier this year, and management wants 25 million by December. When I ran those targets against the company’s $1.77 trillion valuation, the math only holds if Starlink keeps winning new countries, and winning them quickly.That is the bull case. The bear case is just as loud, because SpaceX lost billions last year, which turns every new subscriber into a referendum on whether the growth ever catches up to the spending.Now one of those countries has said yes. On June 29, Globe Telecom, the Ayala-controlled carrier that dominates the Philippines, secured regulatory approval to commercially launch a direct-to-mobile Starlink service, becoming the first telecom in the country to flip the switch, according to Inquirer.Why a Philippines Starlink phone deal matters to Wall StreetSatellite-to-phone is no longer science fiction. SpaceX has launched thousands of Starlink satellites, and the newest ones act like cell towers in space, beaming a signal to any phone with a clear view of the sky.More Telecommunications:Comcast launches new service to win back internet customersVerizon drops 2 new plans as wireless customers flee high pricesT-Mobile warns customers that a key service will double in priceFor most of its life, Starlink sold internet through a pizza-box dish bolted to your roof. The phone version needs no new hardware, which is why it scales fast and why investors now treat it as the clearest path to the $1 trillion in revenue Elon Musk says the company “might be able to reach approximately” by 2030, according to CNBC.There is one more wrinkle for stock pickers. SpaceX folded Musk’s artificial intelligence startup xAI into the company earlier this year, so a single SPCX share now buys rockets, satellites, and a chatbot all at once.Here’s the catch on the phone business, however. The U.S. version has been underwhelming. T-Mobile (TMUS) runs Starlink’s direct-to-cell product in America, and its own chief executive conceded this spring that satellite traffic was barely a rounding error on the network, most of it coming from people stranded in national parks.So the real growth has to come from somewhere else. It has to come from parts of the world where towers were never built in the first place.

A Starlink’s carrier in the Philippines just got the green light to switch it on.Gilbert Rondilla Photography / Getty Images

What Globe and Starlink just cleared in ManilaThe Philippine approval is the opposite of a rounding error. Globe is switching the service on for a market where roughly 4 percent of people still live outside any mobile signal at all.The country’s regulator, the National Telecommunications Commission, cleared the launch as part of a push to close the digital divide between connected cities and cut-off provinces.To work, the service needs a clear line of sight to the sky, but once it connects, it carries far more than emergency texts. Subscribers can make voice and video calls, send messages, and pull up navigation, all routed through orbit.Related: The SpaceX $17 billion spectrum buy finally makes senseThe rollout starts on Android phones with an active Globe SIM and prices at 99 pesos, about $1.70, for prepaid users, with no extra charge on higher-tier postpaid plans. Even in the most remote or disaster-stricken areas, “Filipinos remain connected,” Globe chief executive Carl Cruz said, according to Inquirer.That last point is not marketing. Globe tested the technology on more than 150,000 users in the country’s south after a magnitude 7.8 earthquake in June, using it as a backup when the towers went dark.Strip away the corporate language, and here’s the signal that matters to a stock: Each new country is a checkmark against that 25 million subscriber target. The Philippines, with more than 110 million people and thin rural coverage, is a far bigger prize than another slow weekend in a U.S. national park.The satellite stocks U.S. investors can actually buyYou cannot buy a slice of the Globe deal, and until July 7, most index funds cannot buy SPCX either. That changes when the stock joins the Nasdaq-100, the moment passive funds will be “forced to sell billions” of existing holdings to make room for it, according to SpotGamma.In my analysis, that mechanical buying is exactly why a phone deal in Manila quietly matters to a retirement account in Memphis. The stronger Starlink’s subscriber story looks heading into that index event, the more the forced bid has to chew on.Wall Street is not fully sold. NewStreet Research opened coverage with a $165 target, while CFRA slapped a sell rating and a $115 target on the stock in its first days, betting the price had run out ahead of the cash flow, according to CNBC.Because that SPCX share also carries rockets and a chatbot, the cleaner ways to bet purely on satellite-to-phone are the rivals and partners that trade on their own. AST SpaceMobile (ASTS) builds the competing direct-to-phone network behind AT&T (T). Amazon (AMZN) is racing its own constellation, now branded Amazon Leo, toward commercial service. T-Mobile remains the U.S. storefront for Starlink itself.Here is a quick scoreboard on the engine behind the headline.Largest IPO ever, about $75 billion raised at a $1.77 trillion valuation, CNBC reported.Starlink Mobile above 10 million subscribers, targeting 25 million in 2026, according to TheStreet.SpaceX net loss in the billions in its latest reported quarter, CNBC noted.SPCX trading near $153, with average analyst price target around $188, according to Investing.com.Stock joins Nasdaq-100 on July 7, 2026, Investing.com confirmed.Where the Starlink land grab goes nextThe next proof points are already lining up. SpaceX has told investors it wants to sell Starlink phone service straight to U.S. consumers, a move that would turn its carrier partners into rivals overnight, as I covered for TheStreet.For now, the tell is geography. Watch which countries say yes next, because every Globe-style approval is a brick in the wall holding up that $1.77 trillion valuation, and the first crack will show in the subscriber count long before it shows in the share price.So the next time a remote village half a world away gets a signal it never had, do not file it under foreign news. If you own a Nasdaq-100 fund after July 7, you will own a sliver of that signal, regardless of whether you meant to.Related: SpaceX just put every US wireless carrier on notice

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealIf a new tablet is on your wishlist as you prepare for a summer refresh, you’re in luck. While there are some discounts on name-brand options, we’ve found some of the best deals hidden on Amazon and Walmart. Many two-in-one tablets come with a host of accessories, turning the already convenient device into a mini laptop. And the best part? We’ve discovered many that cost less than $150. The Zonko 2-in-1 Laptop and Tablet is our latest find, and it’s on sale for just $101. Originally $180, it’s even more budget-friendly now with a 44% discount. Zonko 2-in-1 Laptop and Tablet, $101 (was $180) at Walmart

Courtesy of Walmart

Shop at WalmartWhy do shoppers love it?Perfect for both kids and adults, this user-friendly two-in-one laptop and tablet makes everyday tasks and entertainment a breeze. With a 2 gigahertz octa-core processor, up to 16 gigabytes (GB) of RAM, 128 GB of ROM, and an expandable memory up to 1 terabyte (TB) via a micro SD slot, you’re met with ample storage space for files and downloads, as well as efficient performance that can handle everything from browsing the web to streaming your favorite TV shows. It operates on the Android 14 system, which has an easy-to-use interface. This tablet also offers enhanced security, custom themes, AI-generated wallpaper, and improved photo quality.The device has a 10.1-inch high-definition touchscreen that is a fantastic size, not just in terms of portability but also for viewing. Photos and videos are crystal clear, and it has a built-in eye protection mode and dark mode that’s great for watching movies or for long reading sessions. It’s also equipped with an 8-megapixel front camera and a 13-megapixel back camera, which are perfect for snapping photos and connecting on video calls.Related: Amazon has a 2-in-1 laptop and tablet for just $60 that comes in 3 colorsWith an 8000-milliampere-hour battery, the tablet can manage up to 14 hours of local video playback and up to 10 hours of streaming and regular use on just one charge. That gives you more than enough time to stay entertained or catch up on work, whether you’re working at a cafe or keeping boredom at bay while you travel. The handy two-in-one tablet comes with a bundle of accessories that make it that much more impressive. A Bluetooth keyboard and a wireless mouse transform the tablet into a small laptop, and a stylus pen enhances the tablet experience. It also comes with even more useful tech accessories, including a tablet case, a USB adapter, a charging cable, a charger, and a TF card pin.Details to knowMemory: Up to 16 GB of RAM and 128 GB of ROM, expandable up to 1 TB.Operating system: Android 14.Battery life: Up to 14 hours.Screen size: 10.1 inches.One shopper called this tablet and laptop combo the “perfect gift,” saying it’s “as capable as an iPad, but less expensive.” They also shared that it’s easy to set up and they were surprised by its quality. Shop more dealsYqsavior 2-in-1 Android Laptop and Tablet, $59 at AmazonAeezo 2-in-1 Laptop and Tablet, $96 (was $130) at WalmartThe Zonko 2-in-1 Laptop and Tablet is on sale for only $101, and it’s the perfect way to upgrade your tech this summer.

Rocket Lab just made its biggest move yet. The space company, known for launching small rockets into orbit, is buying Iridium Communications in a deal valued at about $8 billion. For years, Rocket Lab (RKLB) built rockets and satellite parts for other companies. Now it wants to own and operate a global communications network. That’s a big shift, and investors are paying attention.Why Rocket Lab wants IridiumBuilding a space business is tricky. You need spectrum, the radio-frequency space companies use to send signals. You need satellites already in orbit. And you need customers who already pay you.Iridium (IRDM) has all three. CEO Peter Beck said the company operates 66 active satellites and 14 backups, providing coverage from pole to pole. That means ships at sea, planes in the air, and remote sensors in places with no cell towers can all stay connected through Iridium’s network.Related: Rocket Lab’s latest bold move rattles investorsThe network uses something called L-band spectrum. According to Beck, that band is valuable because it pushes through bad weather and rough conditions better than other signal types. It’s why pilots, the military, and emergency responders depend on it when nothing else works.Iridium pulled in $871 million in revenue last year, according to a company statement, with profit margins around 57%. Comparatively, Rocket LaB remains unprofitable. What the deal looks likeAccording to the Rocket Lab press release:Rocket Lab will pay $54 per share for Iridium, split between $27 in cash and Rocket Lab stock. The stock portion can shift slightly depending on how shares trade before the deal closes, but it’s structured with a floor and a ceiling so neither side gets burned by big swings.To pay for it, Rocket Lab lined up a $3.6 billion bridge loan from Deutsche Bank and Wells Fargo. Most of that will pay off Iridium’s existing debt. The rest, combined with cash Rocket Lab already has, covers the cash portion of the deal.Both boards have already approved the merger. It still needs sign-off from Iridium shareholders and regulators, and the companies expect it to close sometime in 2027.CEO Matthew Desch said joining Rocket Lab gives Iridium a faster, cheaper way to launch and expand its services, including new aviation safety tools and backup systems for GPS.Desch stated:”As the worlds of space and terrestrial communications continue to converge, more critical services will depend on space-based capabilities. Success will come from those who can bring new innovations to space quickly and sustain them over time as efficiently as possible.”

Rocket Lab aims to gain traction in the space-tech segmentCheng Xin/Getty Images

What Rocket Lab’s financials say about the dealSo is Rocket Lab in good shape to pull this off? The numbers tell a mixed but improving story.Revenue is climbing fast. Quarterly sales hit $200 million in Q1, up more than 63% from a year earlier. Gross margin has also improved, rising from under 29% a year ago to over 38% now, indicating the company is keeping more of each dollar it brings in.Rocket Lab is still losing money on an operating basis, with an operating loss of $44.8 million last quarter. That’s not unusual for a fast-growing space company still building out factories and new rockets like Neutron. Heavy spending on research and development, $80.5 million last quarter alone, is a big reason why.More Tech:Microsoft CEO sends a blunt warning on AI and the tech ecosystemAmazon CEO just made things uncomfortable for AnthropicMicrosoft has bad news for a key AI partnerWhere Rocket Lab looks strong is its balance sheet. Cash and short-term investments totaled over $1.38 billion as of the most recent quarter, up sharply from $688 million a year earlier. Total assets have grown to nearly $2.82 billion, while total liabilities sit at $555.6 million. That leaves shareholder equity of $2.26 billion, more than four times total liabilities.In plain terms, Rocket Lab isn’t drowning in debt. It has plenty of cash on hand and a balance sheet that can support a large acquisition without putting the company at serious risk, especially with Iridium’s cash-generating business helping offset Rocket Lab’s own losses going forward.That combination- fast growth, improving margins, a strong cash position, and now an instantly profitable business joining the fold- points to a company in a fundamentally stronger position than its bottom line alone suggests. The losses are real, but they look more like the cost of expansion than a sign of trouble.What it means going forwardBeck called the equation behind this deal “1 plus 1 equals 3.” The idea is simple. Rocket Lab builds and launches things. Iridium operates a network that already makes money. Taken together, Rocket Lab becomes a company that can build, launch, and operate its own services in space, rather than relying on someone else for the final piece.If the deal closes as planned, Rocket Lab will go from rocket builder to a true end-to-end space company, with Iridium’s spectrum and customer base as the foundation for whatever comes next.Related: Why Rocket Lab stock tumbled on Nasdaq-100 news

Get the key takeaways on divorce mediation and why your financial team needs to join early—before decisions lock in. Jacobson Mediation Group’s Alex Jacobson explains how legal, tax, and financial guidance work together (and what can go wrong when they don’t), the importance of advisor timing, and why “equal” asset splits like a house vs. retirement may not be truly equal. We also cover attorney-client privilege basics, when independent advisors help, and how to keep your divorce team streamlined.Jeffrey Snyder, Broadcast Retirement NetworkJoining me now, or I guess I should say, welcome back to the program, Alex Jacobson.She is the founder of Jacobson Mediation Group. Alex, always great to see you. Thanks for joining us this morning.Alex Jacobson, Jacobson Mediation GroupThank you for having me back.Jeffrey Snyder, Broadcast Retirement NetworkAnd do you mind if I proclaim you Mediator of the Year?Alex Jacobson, Jacobson Mediation GroupI don’t know if you have such an award. I’ll take it.Jeffrey Snyder, Broadcast Retirement NetworkIs there an award? Is there a association for mediation?Alex Jacobson, Jacobson Mediation GroupI’m sure there are many associations, but I’ll take the award. Love the accolade. I’ll add it to my signature block.Jeffrey Snyder, Broadcast Retirement NetworkOkay, there you go. I just, I’m a kingmaker, I guess. I don’t know.All right, Alex. It’s always great to talk the process of divorce. It’s obviously not easy for people, but mediation, certainly an important step.Today, I want to, you know, you often talk about the team, the importance of having a team, your financial advisor, all the, you know, accountant, someone like yourself, an attorney, a mediator. When’s, let’s talk about financial advice though. When’s the right time?Or why is it important to bring the financial advisor in sooner rather than later?Alex Jacobson, Jacobson Mediation GroupSo the right time is as early as possible. You know, you need to start considering the financial implications of your divorce when it is beginning. And as you said, getting that team around you as early as possible is critical.You want your lawyer to advise you on the legal implications of your divorce, but you also need your accountant to advise regarding the tax implications. You need your financial advisor to give their input with respect to the financial implications of your divorce. You know, all of these aspects come together to make a complete financial agreement.And if the right hand doesn’t know what the left hand is doing, you’ve got real problems at the end of the day once your agreement is entered. And I’d like to give an example of that. You know, on a balance sheet, you might see that a million dollar, the equity in a house for a million dollars and a million dollars in a retirement account, but those are very, very different.And if someone is getting the house and someone’s getting the retirement account, that’s not, that may be okay in a particular instance, but that’s not necessarily an equal division of the estate.Jeffrey Snyder, Broadcast Retirement NetworkYeah, and one’s more liquid than the other, right? And one can appreciate in a flux, you know, typically assets in a retirement plan may grow maybe a little bit more consistently than housing prices. Let me ask you this, because if you’re in a relationship with somebody, you may have a couple, as a couple, you may have an accountant, you may have an attorney, you may have a financial advisor, but when you are divorcing and you’re separating from your partner, do you have to look outside of those relationships?Because does it, is it that relationship, one of the people in the relationship maintains who they have or do they actually have to go their separate ways and find service providers on their own? Make sense?Alex Jacobson, Jacobson Mediation GroupAbsolutely, it’s a really good question. And it’s a very case-specific question. And it’s gonna depend on, you know, the individual.Do they feel comfortable with that financial advisor anymore? Do they feel comfortable with that accountant anymore? Do they feel that they’re biased towards the spouse?You know, in a marriage, there’s generally a partnership and maybe someone’s dealing with the finances and maybe someone’s dealing with, you know, organizing carpools. And if the carpool organizer now has to be tuned into the finances, he or she may not feel as comfortable with the accountant thinking that they’re on the other, you know, their spouse’s side. There is absolutely nothing wrong with getting an independent, you know, third-party opinion advisor to participate on your team.Jeffrey Snyder, Broadcast Retirement NetworkNow, as an attorney, there’s an attorney-client privilege, right? So that, but does that exist for the accountant, the financial advisor, the other aspects of the team? I wanna be very clear on this because that, I guess, it described the attorney-client privilege and what that means and does it apply here for someone to hire an attorney?Alex Jacobson, Jacobson Mediation GroupSure, I won’t speak to the specifics of what the requirements are for accountant-client privileges or financial advisor-client privileges. With respect to a lawyer and a client, that is privileged communication when it’s just the two of you. And so, you know, if you are having a meeting with your financial advisor and your spouse and your attorney, everybody’s participating in the conversation and that is not confidential.What’s learned in that conversation can leave that conversation. So you need to be mindful of who’s participating in the conversations when you’re getting that advice. Another reason why getting your own independent advisor when going through a divorce, particularly a high-conflict divorce, can be helpful.Jeffrey Snyder, Broadcast Retirement NetworkYeah, I’m trying to think about what Bunny XO and Jelly Roll are going to do. Have they reached out to you at all in terms of- Not yet, not yet.Alex Jacobson, Jacobson Mediation GroupI’m checking my voicemail regularly though.Jeffrey Snyder, Broadcast Retirement NetworkOkay, you know, obviously that’s going to be a difficult, I think it’s going to be a very difficult, contentious divorce. Hopefully that is not what most people have to go through, but you never know. Let’s talk about finding those independent people because I would imagine if you’ve been tethered to a partner for many, many, many years, you’re used to doing things and you have put, each person has handled different tasks in their relationship.Somebody may manage the checkbook, somebody may file the tax return or help work with the accountant to do the tax return. Finding that person, how do you find an independent financial advisor, a new financial advisor, or a new accountant, or even someone like yourself, like an attorney?Alex Jacobson, Jacobson Mediation GroupSo I think I’ve referred to your divorce lawyer as your quarterback, and he or she is the one who’s sort of orchestrating the team, putting together the pieces of the settlement. And he or she is going to be a really good resource in terms of finding the financial advisor, the accountant, whatever players on your team are needed, that individual is going to be a great resource, but also your family, your friends, any other trusted individuals in your life are going to have recommendations for individuals to look into. But I want to also be mindful of one thing, and that is I don’t necessarily want too many cooks in the kitchen.And so if it is possible that a couple can continue to work with the same financial advisor, so we’re getting streamlined advice for the collective, great. If there’s an accountant that can continue to advise both parties and both parties feel comfortable with it, great. I’m not suggesting that everybody needs to rally the troops and bring in 15 different people into the process.If it’s needed, it should be sought out. But if it’s not, then great to keep the group small and consistent, so that they understand what past practices have been for that family.Jeffrey Snyder, Broadcast Retirement NetworkAnd is that because the too many cooks comment you made, is that because it’s costly to have all these different people and also decision-making? Look, I don’t like working with committees, so decisions can take a long time. Is that part of your thinking or is it just a dilution of information that’s being spread out to so many people?Alex Jacobson, Jacobson Mediation GroupIt’s time, it’s multiple opinions, it’s cost. Keeping it streamlined can be better if everyone can trust the individuals in the process.Jeffrey Snyder, Broadcast Retirement NetworkHow do you, I would feel, you know, I’ve not been through the process and I hope to never go through the process, but I would feel kind of vulnerable. If I’m, I mean, it is a major move to go through a divorce, whether you’ve been married for two years, five years, 10 years, and it’s displacing. I mean, it really displaces you.So I have to think that you feel, you would feel very vulnerable and vulnerable in giving people that you really probably don’t know. You may trust them or you may gain their trust or they may gain your trust, but it’s gotta be, there’s a vulnerability here in terms of information, in terms of your feelings, your emotions.Alex Jacobson, Jacobson Mediation GroupMost definitely, and you’re relying on these people to give you really, really critical advice for life-changing, in some instances, decisions. I often tell people I’m not a mental health professional, although I did play one in my day job. It is really a pivotal time for everybody that’s in my office.And you wanna make sure that the participants in the process are mindful of that and sensitive to it.Jeffrey Snyder, Broadcast Retirement NetworkDo you think, maybe this is a kind of a far out question, but is divorce, going through the process, harder if you’re more mature versus younger? I mean, are younger people more malleable and able to bounce back? Or is it really just on a, what is the emotional makeup of the individual?Alex Jacobson, Jacobson Mediation GroupIt just depends. I mean, are there kids involved? Is this a significant estate?Is there no liquid, are there no liquid assets to be allocated between the parties? It is so case-specific. I couldn’t make a general statement.Jeffrey Snyder, Broadcast Retirement NetworkYeah, I mean, it just seems to me that, I tend to agree with you. I mean, I don’t think you can, I try not to pigeonhole people. I think people are gonna, under times of duress and stress, they’re going to react according to their own traits, right?Their own personalities. Alex, it’s always great talking with you. I could go on and on and on and talk about this.Are there any, let me just ask you for some key takeaways here. Do you have any lasting thoughts that maybe we can leave with the audience about this process and the importance of engaging early?Alex Jacobson, Jacobson Mediation GroupSure, I mean, I think if you’re talking about a financial advisor, for example, it’s really important to look at, what is your trajectory? Are you gonna have a support obligation? Are you gonna need cash?What are your needs gonna be? Or are you nearing the end of your career and retirement is more critical in terms of your settlement? And so plotting that out, understanding what your budget looks like and understanding what your needs are is really, really important.And having the time to talk through those issues, pros, cons, that’s why having that financial advisor on your team early is really critical.Jeffrey Snyder, Broadcast Retirement NetworkYeah, really well said. So quick question for you. When you were thinking about the quarterback, was that Caleb Williams, Tom Brady, or some other quarterback that was going through your head?Alex Jacobson, Jacobson Mediation GroupI’m a Chicago Bear. Was that even a question?Jeffrey Snyder, Broadcast Retirement NetworkThat’s a good point. Alex Jacobson, always great to see you. Thanks for joining us.And we look forward to having you back again soon.Alex Jacobson, Jacobson Mediation GroupThanks very much. Take care.

After years of saving in an employer retirement plan, many retirees move their savings into an individual retirement account when they leave their job. The transfer is usually free, making it a common and widely accepted step.Mutual fund fees can vary substantially between retail IRAs and employer-sponsored retirement plans, even for the same fund. This pricing gap has been quietly eroding retirement savings for years and is growing as baby boomers retire in large numbers.Investors are set to move an estimated $941 billion from employer-sponsored plans into IRAs this year, research firm Cerulli Associates projected. Annual rollovers could reach roughly $1.3 trillion by 2031, fueled by the largest sustained retirement wave in United States history, the firm estimated.Retail share classes are costing IRA holders billions in added feesThe cost difference hinges on a concept most savers never encounter: mutual fund share classes, which determine how much a fund charges in annual expenses. Workplace 401(k) plans pool contributions from hundreds or thousands of employees, giving them enough purchasing power to access institutional share classes with lower expense ratios.When you roll that money into an IRA, you typically buy the same fund in a retail share class that charges higher annual fees.The Pew Charitable Trusts analyzed expense ratios across every mutual fund that offered both share types in 2019 and found the gap is substantial.Median annual fees for retail equity fund shares ran 0.34 percentage points higher than institutional equivalents, representing a 37% cost increase, the report found. Hybrid funds, which hold both stocks and bonds and are the most common type used in retirement plans, showed a 41% gap in median expenses.Those fractions add up fast at the scale of the entire rollover market, and the aggregate damage runs into the billions of dollars annually.Almost nobody compares fees before making the movePerhaps the most striking finding from the research is how rarely costs factor into the rollover decision, even though the sums at stake are enormous. Among workers who planned to roll savings into an IRA, just 3% cited lower fees as their primary motivation, the Pew survey found.The strongest driver was the desire for greater control over investments, which 39% of respondents identified as their main reason for choosing a rollover. More Retirement:Vanguard drops playbook on retirement incomeVanguard warns workers losing thousands in 401(k)sFidelity’s wake-up call on Social Security, IRAs, and 401(k)sAccount consolidation came in at 13%, and access to professional advice followed at 15%, which rounded out the top three motivations in the survey.Meanwhile, only about 25% of retirement plan participants said they had read and understood a fee disclosure document, the research indicated. That gap between the size of a financial decision and the attention given to its costs is what researchers call a fee blind spot.”People should be aware of these fee differences,” John Scott, who directs the retirement savings project at Pew, told Morningstar.

Most retirement savers overlook fees when rolling over accounts, prioritizing control instead and potentially sacrificing thousands in long-term investment returns.dragana991/Getty Images

How a 0.19 percentage-point gap erases tens of thousands in savingsThe report illustrates the damage through scenarios that represent common retirement situations, and the dollar figures are larger than most savers would expect. One scenario involves a 65-year-old retiree with $250,000 in her 401(k) plan, paying 0.46% annually for a hybrid mutual fund.Rolling that money into an IRA holding the same fund at a retail rate of 0.65%, while withdrawing $1,000 per month, changes the outcome dramatically. She would end up with roughly $20,500 less in her account at age 90 than if she stayed in the workplace plan, the report showed.In a more extreme scenario, a retiree moves from a 401(k) fund charging 0.09% to an IRA fund at 1.44%. That switch would leave her with $37,630 less by age 90, a gap driven almost entirely by the compounding drag of higher annual fees, Morningstar reported. Fiduciary protections weaken once money leaves a 401(k) planThe fee gap is not the only thing savers give up when they roll over, because the legal framework protecting their interests also changes. Investments held in 401(k) plans are subject to the Employee Retirement Income Security Act, which requires plan sponsors to act in the best interests of participants, CNBC reported.Ben Rizzuto, CFP, Director and Wealth Strategist at Janus Henderson Investors, analyzed the practical consequences of the vacated Labor Department rule for retirement savers navigating the rollover decision without a uniform legal standard governing the advice they receive.From a client’s perspective, the vacated rule reinforces an uncomfortable truth: Not all retirement advice is regulated the same way. Two advisors can offer similar rollover guidance under very different legal standards depending on licensing, compensation, and relationship structure.Once that money moves into an IRA, those fiduciary protections generally do not follow, and the standard of care for investment advice changes. The advice is then governed by the Securities and Exchange Commission’s best interest rule, a standard that Reish Scott and other retirement law experts have noted falls short of a fiduciary duty. The rollover decision carries lasting consequencesReish, Scott, and other retirement researchers have characterized the rollover as one of the most consequential financial decisions many households face.The difference between institutional and retail pricing can reshape a 25-year retirement, Pew’s research showed, and Scott noted that fee awareness remains the main gap in the rollover decision.Over 20 years, a one-percentage-point increase in annual fees can translate into a six-figure reduction in retirement savings.Related: Roth 401k match could trigger a surprise tax bill

Bernstein analyst Mark Newman raised his price target on SanDisk (SNDK) to $3,000 from $1,700 this week, while keeping an Outperform rating on the shares.Newman is a 5-star analyst on TipRanks, ranking 91st out of more than 12,300 Wall Street analysts with an 80% success rate on his calls.That track record matters here because his case isn’t built on NAND prices spiking again.It’s built on SanDisk no longer needing them to.Memory has always been a brutal commodity businessFor decades, NAND flash memory traded like wheat or oil. Prices surged when demand outran supply, then crashed when manufacturers flooded the market with new capacity.Customers held the leverage in that arrangement, free to walk if spot prices fell, and suppliers had little recourse once a contract ended.That dynamic made memory stocks notoriously hard to hold through a cycle. A great quarter today said nothing about next year, since the same oversupply that crushed prices once could always return.Investors who bought the peak often spent the next downturn waiting to get even.

Bernstein raised its SanDisk price target to $3,000 from $1,700, citing new long-term contracts with price floors near 29 cents per gigabyte.SweetBunFactory / Getty Images

SanDisk’s own disclosures back up the contract shiftSanDisk has been telling this story itself. In its fiscal third-quarter results,CEO David Goeckeler said the company is “advancing to a new business model built on multi-year customer engagements backed by firm financial commitments.”That’s corporate language for the same shift Bernstein is now pricing in.By early May, SanDisk had signed five of these long-term agreements, and an Investing.com transcript of the earnings call quoted CFO Luis Visoso confirming they covered more than a third of SanDisk’s bit shipment in fiscal 2027.That’s a meaningful share of total output locked into pricing terms set in advance, not negotiated quarter to quarter on the spot market.Related: JPMorgan doubles down on economy, inflation outlookThe new contracts are stronger than the headline suggestsBernstein’s analysis goes further than what SanDisk has spelled out publicly. Older long-term agreements were written in the customer’s favor.The new generation locks in fixed or range-bound prices, requires upfront financial commitments from buyers, and runs longer.Newman adds a detail most coverage has missed, according to the TipRanks report. The financial guarantees in these contracts aren’t fixed amounts that shrink in relevance over time. As customers draw down the contract and revenue gets booked, the remaining guarantee covers a larger share of what’s left, meaning the protection strengthens in the later years of the deal.Bernstein estimates SanDisk’s floor price in its recent agreements at roughly 29 cents per gigabyte, in line with current market pricing.Micron’s (MU) floor price in its own long-term deals sits well below current levels, even though Micron’s contracts tend to run longer at five years versus three to five for SanDisk.The downside case just got a number attached to itNewman didn’t just argue these contracts reduce risk in the abstract. He ran the math on what happens if memory prices crash harder than the last major downturn.In a price collapse worse than 2010, with 60% of SanDisk’s volume covered by long-term agreements, Newman estimates fiscal 2030 earnings per share would still come in at $214, according to the TipRanks report.Without those contracts in place, that same downturn would cut earnings to $81 per share.That gap is what Bernstein is pricing into the new target. The upside case got revised too: Newman’s base case now calls for $243 in fiscal 2027 earnings per share and $272 in fiscal 2028, with a bull case reaching $350 and $400.More SanDisk:Sandisk future hinges on powerful AI shift, says Morgan StanleyVeteran Wall Street trader sharply raises SanDisk stock price targetBank of America resets Sandisk stock price targetOther desks are reaching the same conclusionMorgan Stanley’s Joseph Moore, also a 5-star analyst, used almost identical language after meeting with SanDisk executives in late June, calling the shift a fundamental repricing of the business rather than a routine price-target bump.When two analysts at different firms independently land on the same framing, it signals the market thesis is shifting, not just one bank’s model.The bigger story is about contracts, not chipsStep back, and this note is less about one stock’s valuation and more about an industry quietly rewriting its business model.Suppliers across the memory sector are using AI-driven demand as leverage to convert customers from spot-market buyers into locked-in, financially-committed partners.That shift didn’t start with SanDisk. Micron’s recent move into multi-year HBM contracts points to the same trend taking hold across the broader chip supply chain.For investors, the practical takeaway is that price targets built on contract structure deserve more weight than ones built purely on commodity price forecasts.A memory stock with locked-in floors carries a different risk profile than one still exposed to the next downturn in spot pricing, even if both trade on the same ticker tape today.The open question is how far this contract model spreads, and how fast. If SanDisk’s peers can replicate the same pricing protection in their own upcoming agreements, the entire memory sector could see a valuation re-rating if similar contract structures become widespread.If they can’t, SanDisk’s head start may turn out to be the difference between a cyclical winner and a structural one.Related: The new Chinese AI model rattling U.S. tech investors