To The Moon

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Six U.S. stocks with market caps above $10 billion are trading at fresh all-time highs as of September 4, 2026. The top 6 span AI-driven enterprise hardware, global custody banking, biopharmaceutical royalty aggregation, workplace life and disability insurance, drug-delivery royalty licensing, and Latin American integrated steel — alongside one large-cap PC/server maker at the center of the group. This spread points to an AI infrastructure capex supercycle (record order backlogs and triple-digit EPS growth at the hardware leader), broad-based strength in fee-driven financials and insurers (record custody assets, double-digit fee growth, and rising capital return), resilient royalty-based healthcare models absorbing individual pipeline setbacks without denting long-term targets, and a tariff-driven margin recovery in North American steel as the market's current momentum drivers.

The top 6 tickers leading this cohort - $Dell Technologies Inc.(DELL)$, $Bank of New York Mellon(BNY)$, $Royalty Pharma plc(RPRX)$, $Unum(UNM)$, $Halozyme Therapeutics(HALO)$, $Ternium SA(TX)$

🧭 Key Market Drivers

• AI infrastructure supercycle keeps lifting mega-cap hardware:
  $Dell Technologies Inc.(DELL)$'s blowout fiscal Q2 print — record AI server orders and a raised full-year outlook — is pulling the stock to fresh highs and dragging Wall Street targets sharply upward, underscoring how enterprise AI capex remains the dominant equity theme.

• Financial-services and insurers ride fee income and capital return:
  $Bank of New York Mellon(BNY)$'s record custody/servicing fees and $Unum(UNM)$'s resilient workplace-benefits franchise show traditional financials compounding on higher AUC/A, buybacks, and dividend hikes even as rates normalize.

• Biopharma royalty models prove durable through pipeline setbacks:
  $Royalty Pharma plc(RPRX)$ absorbed a high-profile Phase 3 miss on partner Novartis's pelacarsen without denting its 2030 receipts target, while $Halozyme Therapeutics(HALO)$'s ENHANZE royalty stream kept accelerating — both a reminder that diversified royalty portfolios can shrug off single-asset disappointments.

• Latin American steel rides a tariff-driven margin recovery:
  $Ternium SA(TX)$'s sharp EBITDA rebound, paired with hopes that the U.S. eases Section 232 tariffs on Mexican steel, is drawing repeated analyst target hikes and pushing the stock to a 52-week high.

1. $Dell Technologies Inc.(DELL)$

• Core Business:
  Servers, storage and networking (Infrastructure Solutions Group) alongside PCs and peripherals (Client Solutions Group), with AI-optimized servers now the primary growth engine.

• Latest Developments:
  On September 1, 2026, Dell reported fiscal Q2 2027 results showing $60.9 billion of AI orders booked in the quarter — a record — pushing the AI backlog to $95 billion; the company raised full-year revenue guidance by $25 billion to $192 billion.

• Q2 FY2027 Financial Highlights (quarter ended July 31, 2026):
  Revenue of $46.97 billion, up 58% YoY, beat the $44.92 billion consensus; adjusted EPS of $7.04 (up 203% YoY) crushed the $4.88 estimate by over 40%; Infrastructure Solutions Group revenue jumped 89% to $31.78 billion, with AI-optimized server revenue of $16.40 billion.

• Price Target Outlook:
  Citi analyst Asiya Merchant raised her target from $515 to $600 (Buy); Goldman Sachs analyst Katherine Murphy raised her target from $510 to $570 (Buy) on September 3, 2026.

2. $Bank of New York Mellon(BNY)$

• Core Business:
  Global custody, securities servicing, market/wealth services and investment management for institutional and wealth clients.

• Latest Developments:
  Following record Q2 2026 results, BNY's board approved a 19% dividend increase to $0.63/share (paid August 7, 2026); on August 4, 2026, JPMorgan raised its price target to $159 from $149.

• Q2 2026 Financial Highlights:
  Revenue reached a record $5.698 billion, up 13.3% YoY, beating the $5.42 billion consensus; EPS of $2.45–2.46 topped the ~$2.20 estimate by roughly 12%; AUC/A rose 12% YoY to $62.6 trillion and AUM grew 6% to $2.2 trillion.

• Price Target Outlook:
  Truist raised its target from $160 to $178 (Buy); KBW raised its target from $166 to $177 (Outperform); RBC Capital raised its target from $142 to $168 (Sector Perform).

3. $Royalty Pharma plc(RPRX)$

• Core Business:
  The largest buyer of biopharmaceutical royalties, collecting payments on over 35 commercial products and roughly 19 development-stage therapies across oncology, rare disease and cardiology.

• Latest Developments:
  On September 4, 2026, Royalty Pharma confirmed Novartis's Phase 3 HORIZON trial for pelacarsen missed its primary cardiovascular endpoint; the company said it does not expect to owe milestone payments to Ionis and reiterated its 2030 Portfolio Receipts target of $4.7 billion or more.

• Q2 2026 Financial Highlights (reported August 5, 2026):
  Royalty Receipts grew 14% YoY to $768 million and Portfolio Receipts rose 6% to $773 million; the company raised full-year 2026 Portfolio Receipts guidance to $3.4–$3.5 billion from $3.325–$3.45 billion, marking the second consecutive quarterly guidance raise.

• Price Target Outlook:
  Goldman Sachs raised its target from $59 to $66 (Buy); Citi analyst Geoff Meacham raised his target from $66 to $70 (Buy); Morgan Stanley raised its target from $64 to $65 (Overweight).

4. $Unum(UNM)$

• Core Business:
  Workplace employee benefits — disability, life, accident, critical illness and leave-management services — sold under the Unum and Colonial Life brands.

• Latest Developments:
  Unum executed a $3.8 billion long-term care reinsurance transaction with Fortitude Re, ceding roughly 50,000 policies; on August 24, 2026, Morgan Stanley raised its price target to $92 from $87.

• Q2 2026 Financial Highlights (reported July 28, 2026):
  Adjusted operating EPS of $2.16 was up 4.9% YoY but narrowly missed the $2.18 consensus; revenue of $3.375 billion beat the $2.99 billion estimate; the company returned roughly $275 million to shareholders in the quarter and reaffirmed full-year EPS guidance of $8.60–$8.90.

• Price Target Outlook:
  Barclays analyst Alex Scott raised his target from $105 to $110 (Overweight) in early July 2026; Morgan Stanley raised its target from $87 to $92 (Equal-Weight) on August 24, 2026.

5. $Halozyme Therapeutics(HALO)$

• Core Business:
  Drug-delivery technology licensor (ENHANZE, Hypercon) that earns royalties on subcutaneous formulations partnered with major pharma companies including Roche, J&J and Bristol Myers Squibb.

• Latest Developments:
  Halozyme continues to litigate patent infringement claims against Merck over subcutaneous Keytruda; the company signed five new ENHANZE/Hypercon collaboration deals in Q2 and July 2026 alone, expanding into ADC and nucleic-acid modalities.

• Q2 2026 Financial Highlights (reported August 6, 2026):
  Total revenue rose 48% YoY to $481 million, beating the $415.6 million consensus; royalty revenue grew a record 50% to $308 million; adjusted EPS of $2.28 beat the $1.87 estimate by $0.41; the company raised full-year 2026 guidance and repurchased $332.8 million of stock in the quarter.

• Price Target Outlook:
  Morgan Stanley raised its target from $93 to $105 (Overweight); TD Cowen raised its target from $96 to $105; Wells Fargo raised its target from $75 to $95 — all on August 7, 2026.

6. $Ternium SA(TX)$

• Core Business:
  Vertically integrated steel producer serving Mexico, Brazil, Argentina and the wider Southern Cone, with an expanding mining segment.

• Latest Developments:
  On September 4, 2026, JPMorgan raised its price target to $67.50 from $60.50, sending shares to a new 52-week high; on August 21, 2026, Morgan Stanley upgraded Ternium to Overweight from Equal-weight, citing an improving U.S.–Mexico Section 232 tariff backdrop.

• Q2 2026 Financial Highlights (reported August 4, 2026):
  Net sales rose 10% YoY to $4.34 billion; EPS of $1.75 beat the $1.22 estimate by nearly 36%; adjusted EBITDA jumped 50% sequentially to $717 million, lifting margin to 17% from 12.2% in Q1.

• Price Target Outlook:
  JPMorgan raised its target from $60.50 to $67.50 (Overweight) on September 4, 2026; Morgan Stanley raised its target from $55 to $65 (Overweight) on August 21, 2026; UBS raised its target from $56 to $59 (Neutral) on August 27, 2026.

🐯 Tiger Coins Interaction

Six stocks are sitting at fresh highs — but which theme still has the most room to run?

A. DELL — AI infrastructure and record server demand
B. BNY / UNM — Financials, fee income and shareholder returns
C. RPRX / HALO — Healthcare royalty models and recurring cash flow
D. TX — Steel recovery and improving tariff expectations

💬 Vote below, then tell us which ONE stock you would put on your watchlist — and why.

Do you think these new highs signal further momentum, or are valuations already getting stretched?

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