Paradise Valley, Arizona, attracts millionaires to the desert hills northwest of Phoenix.
Samuel Frontino/Getty Images
Paradise Valley, Arizona, is attracting wealthy residents from across the US, especially California.
The average resident of Paradise Valley is older and wealthier than the rest of the state.
Nearly everyone in Paradise Valley owns their home, with a median sale price of $3.3 million.
Paradise Valley, Arizona, is among the places attracting millionaires from around the country, including residents of California looking to escape high taxes.
Dubbed the "Beverly Hills of Arizona," Paradise Valley is located in the desert hills northwest of Phoenix and just east of Scottsdale, another city attracting millionaires.
Though it's a relatively small community, Paradise Valley is known for its several high-end resorts, spacious and secluded lots, and natural beauty. Joan Levinson, a luxury real-estate agent in Arizona, previously told Business Insider that Paradise Valley offers residents privacy while still being a quick drive to big-city amenities.
Hotel guests cool off at the pool at the JW Marriott Scottsdale Camelback Inn Resort and Spa in Paradise Valley, Ariz., on Sunday, June 19, 2016.
Anna Johnson/Associated Press
Maricopa County, which includes Paradise Valley and Scottsdale, is Arizona's most populated county. Data shows that several wealthy counties in California, including Santa Clara, Los Angeles, and Orange, are losing residents to Arizona, with many landing in Maricopa County.
Paradise Valley, in particular, has long attracted the rich and famous and for years topped a list of Arizona's wealthiest zip codes. Muhammad Ali, who died in 2016, and Stevie Nicks have lived there along with billionaires like Bennett Dorrance, the Campbell Soup heir, and the late Bruce Halle, the founder of Discount Tire.
The average resident of Paradise Valley is a 54-year-old, college-educated, married white man who makes more than $220,000 a year and owns a home that costs several million dollars, according to Census Bureau and real estate data.
Ivanka Trump appears at a campaign event in Paradise Valley, Arizona, on October 11, 2020.
Ross D. Franklin/Associated Press
Most Paradise Valley residents own their homes, which are typically worth millions
With an estimated population of 12,658 as of 2020, Paradise Valley's median household income of $221,333 far surpasses that of Arizona and the US generally, which are both around $74,500.
More than seven out of 10 Paradise Valley residents have a bachelor's degree, while 34% have a graduate or professional degree.
The main industries in Paradise Valley are the hospitality and medical trades, but many residents are CEOs, professional athletes, and business owners who work outside the community, according to the Arizona Commerce Authority.
More than 95% of Paradise Valley residents own their homes, compared to just 67% of all Arizona residents.
Paradise Valley property at foot of Camelback Mountain.
David C Tomlinson/Getty Images
The median sale price for a home in Paradise Valley is $3.3 million, according to Redfin and Realtor.com. That's seven times greater than the statewide median sale price of $444,100. Over 82% of homes in Paradise Valley are worth a million dollars or more.
For the few Paradise Valley residents who don't own their home, the median gross rent was more than $3,500.
Residents of the Phoenix suburb also tend to be older than the state of Arizona and the larger US, which both have a median age of around 38.9.
Nightfall at resort in Paradise Valley, Arizona.
Dmitri Kotchetov/Getty Images
Paradise Valley residents are also slightly more likely to be male than female, unlike Arizona at large or the US, which both have more women than men.
More than 82% of residents were white as of 2020, while nearly 8% were Asian.
Westpac Banking Corp (ASX: WBC) shares were out of form on Thursday.
The banking giant’s shares ended the day almost 1% lower at $26.87.
Why did Westpac shares fall?
Investors were hitting the sell button after analysts at Goldman Sachs downgraded the bank following a review of the sector.
According to the note, the broker believes bank valuations “are at extremes” at present. It said:
Australian bank valuations are at extremes, with absolute 12-month forward PERs at the 99th percentile, our DCF valuations are, on average, 175% below current share prices, and the spread between bank fully-franked yields and the 10-year bond yield is currently at its lowest level in nearly 15 years.
The broker concedes that versus industrials the bank’s don’t look expensive. It adds:
However, the one metric where valuation support for the banks still exists is how their PER trades against the non-bank industrials’. On this basis, while the sector has re-rated significantly over the past 12 months, it continues to trade nearly 5% below longer-run historic averages.
Though, it feels this approach to valuing the banks is flawed. Goldman explains:
However, the above analysis is overly simplistic and takes no account of how relative fundamentals between the banks and non-bank industrials may have evolved over time. On this front, the recent reporting season did show that the pace of deterioration in bank fundamentals does appear to be slowing. However, our analysis suggests we should not be expecting a material improvement in fundamentals from here.
So, while the deterioration in earnings appears to now be finished, we see very limited upside risk, and therefore, with valuations skewed asymmetrically to the downside, we now think a more negative view on the banks is appropriate.
Westpac downgraded
In light of the above, the broker has downgraded Westpac shares to a sell rating (from neutral) with an unchanged price target of $24.10.
Based on its current share price of $26,87, this implies potential downside of over 10% for investors over the next 12 months. It concludes:
WBC to Sell from Neutral, given i) execution, cost and timing risks relating to its technology simplification, ii) of the major banks, WBC’s balance sheet is the most overweight domestic housing, which we expect will be more growth constrained than commercial lending over the medium term, iii) NIM has been supported by a shorter duration replicating portfolio but this will give them less longevity, and d) WBC’s 14.2x 12-mo fwd PER is more than one standard deviation expensive vs. its 12.7x historic average.
Should you invest $1,000 in Westpac Banking Corporation right now?
Before you buy Westpac Banking Corporation shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Westpac Banking Corporation wasn’t one of them.
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And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Accent Group could be a great ASX share to buy if you are looking for passive income from your investments.
It is the owner of numerous footwear focused retail store brands such as HypeDC, Stylerunner, Platypus, and The Athlete’s Foot.
Its shares have fallen out of favour with investors over the last 12 months. This has seen them lose approximately 14% of their value over the period.
Bell Potter sees this as a very attractive buying opportunity for investors. Particularly given its expectation for some very juicy dividend yields from its shares.
For example, the broker expects Accent to pay fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $1.75, this represents dividend yields of 7.4% and 8.3%, respectively.
If its analysts are accurate with their estimates, a $10,000 investment would yield $740 and $830 in dividends over the next two financial years.
Bell Potter currently has a buy rating and $2.50 price target on its shares. This implies potential upside of almost 43% for investors.
This telco giant’s shares have been well and truly out of form over the last 12 months. So much so, Telstra’s shares are now down over 20% since this time last year.
This has been driven by Telstra being treated as a bond proxy by investors and disappointment over a recent trading update.
While this is disappointing, it could prove to be a buying opportunity for income investors. Especially given how this decline has made the potential dividend yields on offer with its shares even more attractive.
For example, Goldman Sachs is forecasting fully franked dividends of 18 cents per share in FY 2024 and then 18.5 cents per share in FY 2025. Based on the current Telstra share price of $3.46, this would mean yields of 5.2% and 5.35%, respectively.
To put that into context, a $10,000 investment would return $520 and $535 in dividends.
In addition, with a buy rating and price target of $4.25, Goldman Sachs sees scope for this ASX share to rise almost 23% over the next 12 months.
Should you invest $1,000 in Accent Group Limited right now?
Before you buy Accent Group Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Accent Group Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
When you think of Woodside Energy Group Ltd (ASX: WDS) shares, data centres probably aren’t the first thing that springs to mind.
But the S&P/ASX 200 Index (ASX: XJO) oil and gas stock is eyeing the booming growth of data centres, and the booming growth in energy demand they’re likely to spawn.
As you’re likely aware, the artificial intelligence (AI) revolution is heating up to meteoric speed.
This is likely to present a host of positives and negatives for humanity over the decade ahead.
One of the challenges is providing the energy all this new computing power requires. Particularly in a world intent on reaching net zero emissions by 2050.
You see, not only will the rapid advancement of AI see more data centres constructed. These AI enabled data centres also use roughly 10 times as much energy as traditional facilities.
Enter Woodside shares.
How Woodside shares could power your AI co-pilot
As The Australian Financial Reviewreported, Woodside CEO Meg O’Neill has been discussing the potential for “a liquid hydrogen value chain” with a several data centre operators in Singapore.
The island nation’s government has stipulated that data centres must secure their own sustainable energy sources.
Back in March, O’Neill was championing the company’s since rejected Climate Transition Action Plan (CTAP) as a potential boon for Woodside shares.
“I firmly believe Woodside is built to thrive through the energy transition and our Climate Transition Action Plan shows how we plan to achieve this,” she said.
Indeed, the report released to the ASX contains the word hydrogen 18 times, with Woodside noting its intentions to leverage “infrastructure to monetise undeveloped gas, including optionality for hydrogen”.
The company also revealed plans for commercial scale renewable hydrogen produced from electrolysis.
Now, CTAP is headed back to the drawing board after shareholders voted it down in late April.
O’Neill was clearly frustrated by the result. She commented:
The world wants reliable energy, they want cheap energy, they want green energy, and they want all of those three things tomorrow. And the pathway to get from where we are today to where the world would like to be is a pathway that is going to take time.
But Woodside shares could still become more closely linked with hydrogen.
And data centres could help pave the way.
Addressing the data centre operators she’s been speaking with in Singapore earlier this week, O’Neill said:
With that kind of customer, we feel like we have an opportunity to work with them to find a solution that will meet their needs and allow us to make these investments in low carbon fuels.
Should you invest $1,000 in Woodside Petroleum Ltd right now?
Before you buy Woodside Petroleum Ltd shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Woodside Petroleum Ltd wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
An F-35B Lightning II aircraft assigned to the "Vikings" of Marine Fighter Attack Squadron (VMFA) 225 lands on the flight deck aboard USS Boxer (LHD 4), Sept. 20, 2023.
U.S. Navy photo by Mass Communication Specialist 2nd Class Mikal Chapman
USS Bataan is about to undergo a major overhaul to carry F-35B Lightning II stealth fighters.
The flight deck will be completely revamped for vertical takeoff, giving the Bataan a major air combat capability.
The Bataan will be "the most advanced amphibious warship in the Navy," a senior officer said.
USS Bataan just finished a lengthy deployment in Middle Eastern waters that took it into the ongoing Red Sea fight, but it'll soon be headed to the shipyard for a major overhaul.
The amphibious assault ship, currently docked in New York City for Fleet Week 2024, will undergo work to carry F-35B Lightning II fighter jets. The upgrade will be "game-changer" for the capabilities and future operations of the ship, a senior officer said.
Envisioned as an option to project US power in a more distributed force, namely across the Pacific, the lightning carrier doesn't carry as many fighters as an aircraft carrier like the USS Gerald R. Ford — at most 20 compared to more than 50 — but it's less expensive than building an entirely new aircraft carrier and flexes a better versatility thanks to its other capabilities.
Such a conversion process, though, will keep the Bataan in the shipyard for more than 600 days. "We have to completely revamp the flight deck," Capt. Trace Head, the ship's executive officer, told Business Insider this week, explaining that "the electrical demand is different from any aircraft that we have on board."
An F-35B Lightning II fighter aircraft sits on the flight deck of the Wasp-class amphibious assault ship USS Essex.
US Navy photo by Mass Communication Specialist 2nd Class Chandler Harrell
"As we transition from the Harrier to the F-35 on these ships, there's certain maintenance things that have to be done, and that's all planned and programmed," Marine Forces Command leader Lt. Gen. Brian Cavanaugh said.
Perhaps the largest rework will involve making sure that the Bataan can withstand the F-35B's unique vertical takeoff process, which produces intense heat that can damage the flight deck. The B variant of the F-35 is designed for short takeoffs and vertical landings, eliminating the need for catapult launch systems like those on US Navy Nimitz- and Ford-class aircraft carriers.
The upgrade will allow the Bataan to bring a limited force of fifth-generation F-35s into a fight while also maintaining key amphibious assault capabilities. These ships are smaller and more versatile in their missions.
Once the Bataan is effectively set up to carry F-35s, "the capability that we will bring, especially from an air-to-air standpoint with the F-35s, will be incredibly advanced," Head said. "It's something that will be a game-changer."
Marine Fighter Attack Squadron 121 F-35B Lightning II Joint Strike Fighter prepares to make a vertical landing aboard Marine Corps Air Station Yuma, Ariz., March 21, 2013.
Cpl. Ken Kalemkarian/released
The idea of a lightning carrier has roots in the "Harrier carrier" concept, which the Bataan notably employed in Iraq in 2003. Experts have debated how useful a lightning carrier would be in a conflict against a great power, such as China, but certain US allies, such as Australia, Japan, and South Korea, are moving full-steam ahead with similar concepts. Those programs are in various stages.
One major benefit of a lightning carrier is the F-35B's array of sensors, which allow the jet to act as a battlefield hub and relay information to friendly forces across a wide area.
Two U.S. Air Force F-35A Lightning II aircraft operate alongside amphibious assault ship USS Bataan (LHD 5) and guided-missile destroyer USS Thomas Hudner (DDG 116) in the Gulf of Oman, Aug. 17, 2023.
The big-deck amphib was in the Red Sea this past fall, deterring threats and projecting US power in the area as the US and its partners engaged with Houthi forces in the area. At that time, the Bataan didn't bring as much applicablecombat power to the fight.
"There's absolutely no question about" whether the F-35 would've completely changed how the Bataan entered that conflict, Head said. "We might still be there if we had F-35s on board."
Cavanaugh noted that the F-35 upgrade will be a "significant jump" from other aircraft, presenting new capabilities and challenges for the force. "As we get increased technologies" and incorporate them, he said, "it's a stronger deterrent all across the globe."
An F-35B begins its short takeoff from the USS America with an external weapons load.
Lockheed Martin
It remains to be seen where the Bataan will go once it returns to the force, suspected to be around May 2026. But for Head, thinking about what the ship, with its new capabilities, will bring to the force is an exciting prospect.
"The next deployment, we will be the most advanced amphibious warship in the Navy coming out of the shipyard," he said.
BHP Group Ltd (ASX: BHP) shares came under pressure on Thursday.
The mining giant’s shares fell 3% to end the day at $44.91.
This was driven by concerns over the company’s decision to increase its takeover offer for Anglo American plc (LSE: AAL).
And while the offer has since been rejected, the two parties will continue discussions for another week. Investors may believe that BHP will return with an improved offer and are clearly not seeing value in its plan to acquire the copper miner.
In light of yesterday’s weakness, BHP shares are now down almost 11% since the turn of the year. Does this leave the Big Australian trading at an attractive level for investors? Let’s see what analysts at Goldman Sachs are saying about the miner.
Are BHP shares good value?
According to a recent note out of the investment bank, its analysts think that the mining giant’s shares are good value at current levels.
The broker has a buy rating and $49.00 price target on them. This implies potential upside of 9.1% for investors over the next 12 months.
To put that into context, a $10,000 investment would grow to be worth approximately $10,910 if Goldman is on the money with its recommendation.
But the returns won’t stop there. BHP is one of the more generous dividend payers on the Australian share market.
Goldman expects this to remain the case and is forecasting fully franked dividends per share of 142 US cents in FY 2024 and then 126 US cents in FY 2025.
Assuming that BHP pays out 134 US cents (A$2.03) over the next 12 months (final dividend of FY 2024 and interim dividend of FY 2025), this would mean a 4.5% dividend yield for investors.
This would boost the total return on offer with BHP shares to 13.6% and lead to $450 in dividends from a $10,000 investment.
Why are its shares a buy?
Commenting on its buy rating, the broker said:
Attractive valuation, but at a premium to RIO: BHP is currently trading at ~6.0x NTM EBITDA, (25-yr average EV/EBITDA of ~6-7x) vs. RIO on ~5.5x. BHP is trading at 0.9x NAV (A$49.2/sh), vs. RIO at ~0.9x NAV. That said, we believe this premium vs. peers can be partly maintained due to ongoing superior margins and operating performance (particularly in Pilbara iron ore where BHP maintains superior FCF/t vs. peers), high returning copper growth, and lower iron ore replacement & decarbonisation capex.
Optionality with +US$20bn copper pipeline and strong production growth over 24/25: we continue to believe that BHP’s major opportunity is growing copper production in Chile at Escondida and Spence, and growing copper production and capturing synergies in South Australia between Olympic Dam and the previous OZL assets. We estimate BHP will grow Cu Eq production by ~2%/6% in FY24/25 (excluding the divestment of Blackwater and Daunia).
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bhp Group wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a poor session and dropped into the red. The benchmark index fell 0.45% to 7,811.8 points.
Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:
ASX 200 poised to sink
The Australian share market looks set to end the week deep in the red following a poor session on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 89 points or 1.1% lower this morning. On Wall Street, the Dow Jones was down 1.5%, the S&P 500 fell 0.75%, and the NASDAQ was 0.4% lower.
Oil prices fall
ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a tough finish to the week after oil prices dropped again overnight. According to Bloomberg, the WTI crude oil price is down 1% to US$76.81 a barrel and the Brent crude oil price is down 0.7% to US$81.30 a barrel. This was the fourth session in a row of declines for oil prices.
Buy Xero shares
The Xero Ltd (ASX: XRO) share price surged higher on Thursday following the release of the cloud accounting platform provider’s full year results. Despite its strong gain, Goldman Sachs believes that Xero shares are still great value. According to a note, the broker has reiterated its conviction buy rating with an improved price target of $164.00. This implies almost 22% upside for investors over the next 12 months. It commented: “Our 12m TP is +5% to A$164, reflecting earnings and roll-forward to FY26E base-year (multiple reduced to 33X, from 40X). Stay Buy rated (on CL).”
Gold price sinks
ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a difficult finish to the week after the gold price sank overnight. According to CNBC, the spot gold price is down 2.4% to US$2,335.3 an ounce. This was driven by hawkish comments out of the US Federal Reserve.
Nufarm shares rated hold
Nufarm Ltd (ASX: NUF) shares remain close to being fully valued despite a heavy decline on Thursday. In response to the agricultural chemicals company’s half year results, Bell Potter has retained its hold rating and cut its price target down to $5.10 (from $6.35). The broker said: “We see FY24e as an abnormally difficult year and believe the beyond yield earnings story is compelling. However, we struggle to see the catalyst to drive a ~20% upward movement in ag-chem prices by FY26e (which is required to achieve group revenue targets), in the context of 9yr highs of exports exChina, while pricing remains subdued.”
Should you invest $1,000 in Beach Energy Limited right now?
Before you buy Beach Energy Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Beach Energy Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Xero Ltd (ASX: XRO) shares certainly were in fine form on Thursday.
The cloud accounting platform provider’s shares ended the day almost 9% higher at $134.84.
This compares favourably to a 0.45% decline by the ASX 200 index.
Why did Xero shares rocket?
Investors were scrambling to buy the company’s shares after being impressed with its FY 2024 results.
For the 12 months ended 31 March, Xero reported a 22% increase in operating revenue to NZ$1.71 billion. This was driven by a 419,000 increase in subscribers to 4.16 million and a 14% lift in average revenue per user to NZ$39.29.
At the end of the period, the company’s annualised monthly recurring revenue reached almost NZ$2 billion, which is up 26% year on year.
Also increasing strongly were Xero’s earnings. Its adjusted EBITDA jumped 75% to NZ$526.5 million and its net profit swung from a loss of NZ$133.5 million to positive NZ$174.6 million.
Also catching the eye was the company’s free cash flow generation. Xero’s free cash flow was NZ$342.1 million for the 12 months. This is more than triple the NZ$102.3 million the company recorded in FY 2023.
Broker reaction
Analysts at Goldman Sachs were impressed with the result and appear to feel vindicated for having Xero shares on their conviction list.
Commenting on the company’s results, the broker said:
Key positives: (1) Rule of 40 exceeded (41%) and record EBIT margins delivered (2H24 of 21% vs. 10% in 1H24, 8% 2H23) as XRO benefits from strong revenue growth, cost controls and much lower than expected capex. However we do note some delayed product investment and associated CAC contributed to the lower than expected expense ratio (i.e. 73% vs. c.75% guidance that was re-iterated in February); (2) Revenue trends into FY25 are much stronger than anticipated, given better exit-ARPUs, particularly in the International segment. (3) Subscriber growth in the key UK (+17k) & NA (+3k) markets was stronger than GSe.
In light of the above, its analysts have reiterated their conviction buy rating and lifted their price target to $164.00. Based on the current Xero share price of $134.84, this implies potential upside of almost 22% for investors over the next 12 months. Goldman concludes:
We revise XRO FY25-26 EBIT +2% to +1%, to reflect a stronger revenue outlook (+4% across FY25-26) partly offset by higher costs (72.9% ratio in FY25). Our 12m TP is +5% to A$164, reflecting earnings and roll-forward to FY26E base-year (multiple reduced to 33X, from 40X). Stay Buy rated (on CL).
Should you invest $1,000 in Xero Limited right now?
Before you buy Xero Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Xero Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
I drove the $96K First Edition RST, and it surprised me in a few ways.
This is an electric truck made with truck drivers in mind.
After a long wait, the Chevrolet Silverado EV has officially entered the electric truck wars.
I got the chance to take the First Edition RST for a short drive at a press event last week on a pre-selected route that included surface roads and highway driving.
On this first drive with the truck, two things struck me immediately: its size and handling. But first, let's go over the specs.
The version I drove starts at an eye-popping $96,395, including destination fees. For all that cash, you'll get access to the Wide Open Watts (WOW) mode, which can deliver up to 754 horsepower and 785 pound-feet of torque.
Silverado EV is also built on GM's new Ultium platform, which the company engineered to underpin their next generation of electric vehicles. The RST's roughly 200 kWh battery has an estimated range of 440 miles, which is yet to be confirmed by the EPA, while the 4WT work truck variant has EPA-estimated 450 miles of range.
When it comes to towing, Chevy took advantage of its late arrival to the segment to achieve some classic one-upmanship on the competition. Chevy says the RST can tow more than 10,000 pounds, which would outdo the F-150 Lightning Lariat's 10,000-pound maximum.
Rivian and Tesla still have Detroit beat, though. The R1T and Cybertruck both boast a maximum towing capacity of 11,000 pounds.
Ultimately, I came away with the impression that the Silverado EV is built for people who love trucks — because of course it is. Trucks have always been Detroit's crown jewel, but big trucks and SUVs are going out of style in the EV segment.
In the end, the Silverado EV was fun to drive and handled well, but it's just too beefy for my taste.
The Silverado EV felt bigger on the inside than when I stood next to it.
A side view of the Silverado EV
Nora Naughton, Business Insider
From the outside, the Silverado EV is massive but its trapezoidal cab shortens the look of the bed and creates a bit of an optical illusion that makes the truck feel smaller on the outside than when you're behind the wheel.
I'll admit, at 5'4" (when I stand up straight), most trucks and SUVs feel massive to me. But I was somewhat unprepared for how swallowed up I felt when I first settled into the driver's seat. Once I spent some time adjusting the seat so I could see over the dash, I was ready to hit the road.
I got off to a jerky start in the massive truck
A view showing the driver using the Super Cruise hands-free system on the 2024 Silverado EV RST.
General Motors
Before I even left the driveway, I hit my first snag. I wanted to drive the electric Silverado with one-pedal driving turned on, especially since most EV owners take advantage of regenerative braking to maximize range.
But I underestimated the reactiveness and when I first took my foot off the accelerator to stop at the end of the driveway, all 8,500 pounds of truck flung forward.
I readjusted my sunglasses, which had wiggled down my nose in the jerky immediate stop, and let off the accelerator a bit slower to creep out of the driveway and turn left out onto the open road.
After a few stops and turns, I basically had it down. One-pedal driving always takes a little bit of adjustment, but it felt even more hard to manage in the massive truck.
The Silverado EV’s handling was impressive
A close-up of the Silverado EV badge
Nora Naughton, Business Insider
Once out on the road, I got to experience the Silverado EV's nimble handling. It was a little disorienting how responsive the steering was at first, as the size of the truck didn't quite match up with the way it moved on the road.
Ultimately this benefited someone like me who's not used to driving anything bigger than my Subaru Ascent (which I've still managed to sideswipe on the way up a narrow Detroit parking garage ramp).
I noticed this most as I nearly missed a hard right turn while I was messing around with the infotainment system. I took a hairpin turn at close to 30-miles-per-hour without incident and managed to stay on Chevy's provided route.
SuperCruise made for a stress-free ride on the highway
My view behind the wheel of a Silverado EV driving I-75 for me with SuperCruise. I'm using both hands to take this photo.
Nora Naughton, Business Insider
Anyone who has driven on Metro Detroit's highways knows how harrowing it can be to maneuver a large, unfamiliar car through four lanes of traffic among our, shall we say, offensive drivers here in Michigan.
But the latest version of SuperCruise, which has automatic lane-changing, did all the work for me after I merged onto I-75.
I set the automatic cruise speed to 73 miles per hour, and the truck maneuvered itself from lane to lane to pass slower cars and maintain my preferred speed.
Not everyone is comfortable handing over control to a system like SuperCruise, but I found it a relief not to have to swivel around checking my blind spot for the entire drive.
I'm still not on board with the choice to ditch CarPlay
The 2024 Silverado EV RST's 17-inch-diagonal infotainment screen showcasing the native home screen.
General Motors
I've been an iPhone user since 2011, but I've been using the Google Suite for longer, which makes me a bit of a dual loyalist.
My familiarity with Google products (my partner is a Pixel user) made it easier for me to navigate GM's new Google-based infotainment system. But it still lacks the seamlessness of simple phone mirroring.
GM made the controversial choice to ditch the largely standardized Apple CarPlay and Android Auto systems for its own Google-powered system. GM has given a few reasons for this change, ranging from encouraging drivers to stay off their phones while behind the wheel to offering a more curated experience in GM's electric vehicles.
But it's hard to ignore the influence Tesla might have had. Elon Musk's automaker has never offered CarPlay or Android Auto, instead keeping drivers on Tesla's native system where they can access or pay for apps, software updates, and other add-ons.
Overall, the Silverado EV is made for truck drivers.
A straight-on shot of the Chevrolet Silverado EV RST's front end.
Nora Naughton, Business Insider
After my ride in the Silverado EV, I won't be rushing to my nearest Chevrolet dealer.
But I'm not sure I'm the buyer Chevy is after anyway with this truck. Like Ford with its F-150 Lightning, Chevrolet had a lot to live up to putting an electric engine in a stalwart truck like the Silverado.
First on Chevy's mind will always be their loyal truck owners, and you can see that in the way they've built the Silverado. The best example of that I could find was when I turned off the music to test cabin noise.
While most EVs are very quiet, there a fair amount of road noise made its way in the Silverado EV.
At first this annoyed me, but then I thought about it from a truck driver's perspective. Someone switching out of the current Silverado 1500 with a rumbling 2.7-liter turbo engine isn't necessarily looking for a quiet ride. They want to feel and hear their rigs out on the road, and the Silverado EV delivers that.
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Business credit cards can help you earn bonus rewards on common expenses like office supplies.
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If you own a business or do any freelancing or side gigs, there are plenty of reasons to get a business credit card instead of a personal one.
When searching for the right business credit card, look at factors like welcome bonuses, earning categories, and purchase protection.
The best business credit cards offer a lot of benefits both in common with personal credit cards and in addition to them. Like personal rewards credit cards, many business credit cards promote attractive welcome bonus offers, extend purchase protection and travel insurance, and in the case of airline credit cards and hotel credit cards, come with day-of-travel perks like free checked bags and anniversary award nights.
Even without your own formal small business, you might still qualify for a small business credit card — and you might want to do so for a number of reasons. Using a business credit card can help you keep your personal and work expenses separate. That, in turn, can even help improve your personal credit score over time.
Business Credit Card Benefits and Advantages
There are currently a lot of great business rewards cards available, so if you've been thinking about applying for one, now might just be the right time. Before you do, though, here are five benefits you should look for in any business credit card you apply for.
A high welcome bonus offer
One of the best reasons to apply for a business credit card is that they often offer introductory bonuses that are as good as, or even better than, their personal counterparts.
For example, the Chase Sapphire Preferred® Card, with a $95 annual fee, is currently offering new cardholders 75,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. On the other hand, the Ink Business Preferred® Credit Card is offering new cardholders 100,000 bonus points after spending $8,000 on purchases in the first three months from account opening, and it has a $95 annual fee. So you could potentially earn more bonus points, if you're able to meet the spending requirement, by applying for the business card.
The Hilton Honors American Express Surpass® Card has a $150 annual fee and its welcome bonus offer is 130,000 Hilton Honors bonus points plus a Free Night Reward after you spend $3,000 in purchases on the card in the first six months of card membership (offer ends 7/31/2024). With a $195 annual fee, The Hilton Honors American Express Business Card is currently offering a welcome bonus of 175,000 Hilton Honors bonus points after you spend $8,000 in purchases on the card within the first six months of card membership (offer ends 06/05/24).
Bonus earning categories
Like personal rewards credit cards, many business credit cards earn bonus points on particular purchase categories. No matter which business credit card you apply for, you should make sure it earns bonus points or miles where you actually spend the most money. Some business cards even offer a certain amount of flexibility when it comes to maximizing your purchase activity.
For example, the American Express® Business Gold Card earns an excellent 4 Amex Membership Rewards points per dollar on up to $150,000 in combined purchases per year on the two categories where you spend the most each billing cycle from a prescribed list of possibilities that includes U.S. gas stations, U.S. restaurants, U.S. shipping providers, U.S. purchases made from electronic goods retailers and software & cloud system providers, U.S. purchases for advertising in select media and transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways. So even if your buying habits vary from month to month, you can still take advantage of the card's bonus earning.
Since many small businesses tend to make large one-time purchases, some business credit cards also offer bonus points or miles on big buys, too. For example, the Delta SkyMiles® Platinum Business American Express Card earns 3 miles per dollar on eligible direct Delta and hotel purchases, but also 1.5 miles per dollar on eligible transit and U.S. shipping purchases, plus single eligible purchases of $5,000 or more, up to $100,000 per calendar year.
Day-of-travel benefits
Many of the best travel cards — both business and personal — offer perks that make the travel experience itself that much better. These can include things like free checked bags and priority boarding, like many of the best airline credit cards do, or automatic elite status and free anniversary nights, like those offered by many of the best hotel credit cards.
If you're a frequent traveler and use your business credit card for work trips, you need to think about whether it offers adequate coverage in case things go wrong while you're on the road. Take a look at your card's benefits and make sure it extends protection for things like trip interruption, cancellation, and delays, as well as lost luggage and primary rental car insurance.
One card that offers exceptional travel coverage is the Ink Business Preferred® Credit Card. For example, if your flight is delayed by at least 12 hours (or your delay requires an overnight stay), you can be covered up to $500 for reasonable expenses such as lodging, transportation, food, etc.
The Business Platinum Card® from American Express extends trip cancellation insurance up to $10,000 per trip and $20,000 per 12-month period as well as trip delay insurance that kicks in at six hours and is good for up to $500 per trip in case you need to spend money on things like accommodations or meals.
Purchase protection
Many small business owners need a business credit card specifically to make large purchases — such as for equipment or supplies — for work. If that's your situation, it is imperative to use a credit card that offers sufficient purchase protection in case something goes wrong with the things you buy.
For example, Chase's purchase protection on the Ink Business Unlimited® Credit Card and the Ink Business Cash® Credit Card will both cover you against damage or theft on eligible items up to 120 days after you make a purchase with caps of $10,000 per claim and $50,000 per account.
Certain American Express cards offer similar coverage, such as the Delta SkyMiles® Reserve Business American Express Card whose purchase protection is good up to 90 days out on claims of up to $10,000 each and $50,000 per account per calendar year. Using a card with purchase protection like this can literally save you thousands of dollars in case something goes wrong with your work purchases.
As a side note, some credit cards offer cell phone protection (usually subject to a deductible) against damage or theft, including the Ink Business Preferred® Credit Card.
What to know about business credit card benefits
There are plenty of great reasons to apply for a business credit card, and there are also some key benefits you should look for in any business credit card you are thinking of getting. Finding a product that will not only earn you thousands of bonus points or cash back through a welcome bonus offer and special earning categories, but that will also save you time and money through various travel and purchase protections, is the key to maximizing any business credit card you carry.
