Welcome to Smart Money! My name is 抖阴最新版, and I鈥檓 glad you鈥檙e here.
Wall Street has sold investors on the idea that they should start with 鈥渕icro鈥� analysis 鈥� the idea that they should make investment decisions by comparing things like price/earnings ratios, income statements or other company details.
But I do the opposite; I start with 鈥渕acro鈥� analysis.
I look for big-picture trends that drive huge, multiyear moves in entire sectors of the market.
I鈥檓 talking about trends that can spin off dozens of triple- and even quadruple-digit gains in just a few years.
Catching just one of these trends 鈥� at the right time 鈥� can help anyone accumulate enough capital to finance their dreams and to provide themselves with an enviable retirement鈥�
When investors use a global macro strategy, they identify investment opportunities from a broad, global, top-down perspective, rather than by examining stocks one by one (a micro, bottom-up perspective).
And today, I want to highlight a trend you鈥檝e likely been hearing about nonstop for the last few years: Artificial intelligence, or 鈥淎I.鈥�
Investors know it鈥� and CEOs really know it. Almost no company dares to conduct a conference call without highlighting the AI technology it鈥檚 adopting or developing.
Because of the growing buzz around AI technologies, investors are rushing into AI stocks of all sorts 鈥� hoping to give their portfolios a much-needed boost.
AI is an incredibly powerful 鈥� almost scary-powerful 鈥� megatrend, and the implications of its deployment will supercharge choice companies into previously unachievable milestones鈥� including the coveted trillion-dollar market cap.
Yes, you read that right 鈥� trillion with a 鈥渢.鈥� It鈥檚 a wildly sizeable number, but sure enough, several companies have joined the trillion-dollar club. Some of these companies include Amazon.com Inc. (AMZN), Microsoft Corp. (MSFT), Saudi Aramco, Apple Inc. (AAPL) and Alphabet Inc. (GOOGL).
But with the power of AI, I believe that the next trillion-dollar companies are out there鈥� and will reward their investors handsomely along the way.
So, here are my three picks for the next trillion-dollar AI companies鈥�
Trillion-Dollar AI Stock No. 1: Koninklijke Philips N.V.
Koninklijke Philips N.V. (PHG) is a health technology company that is an AI play hiding in plain sight.
Most investors still think of Philips as a legacy European brand that sells lightbulbs, appliances, maybe an electric toothbrush. But that image is not quite right. Today, this company sits squarely in the sweet spot of the AI revolution.
Philips now runs three related businesses.
First 鈥� Diagnosis & Treatment, which generates roughly half the company鈥檚 revenues and profits. This segment includes MRI, CT scanners, ultrasound, and image-guided therapy systems used to diagnose disease and guide procedures.
Philips鈥� Azurion platform anchors this business, powering minimally invasive cardiac and vascular procedures. Hospitals don鈥檛 just buy these systems once. They sign up for years of software, service contracts, upgrades, and workflow integration.
Second 鈥� Connected Care, which currently accounts for under 30% of company revenues, but less than 10% of its operating profit. This segment functions as the hospital鈥檚 digital nervous system. Philips supplies patient monitoring, imaging IT, enterprise informatics, cybersecurity, and increasingly monitoring-as-a-service. This is where Philips becomes deeply embedded. Health systems standardize on platforms, then rely on Philips to manage patient data, imaging workflows, alarms, staffing efficiency, and clinical decision support across entire networks.
Third 鈥� Personal Health, which accounts for less than one quarter of company revenues, but contributes nearly half of its operating income. This segment includes Sonicare oral care, OneBlade shavers, IPL beauty devices, and premium grooming. This segment doesn鈥檛 drive the long-term strategic narrative, but it does deliver reliable cash flow and steady growth.
On the company鈥檚 February earnings call, CEO Roy Jakobs opened with a simple message: Philips has moved past a challenging stabilization phase and entered into an acceleration phase.
He said the company had 鈥渃onsistently delivered on our commitments in every quarter this year鈥� and is entering 2026 鈥渨ith momentum.鈥�
The numbers back him up. Order intake rose 7% in the fourth quarter of 2025, with strength spread across businesses and geographies. North America delivered double-digit order growth, which management called its key growth engine going forward.
Margins told the same story. Despite tariff headwinds, Philips expanded adjusted EBITDA margins in both the quarter and the full year. CFO Charlotte Hanneman credited innovation-driven gross margin gains, improved product mix, and productivity.
Connected Care also gained traction. Philips reported strong demand for monitoring and enterprise informatics in North America and announced a major U.S. radiology partnership that standardized Philips鈥� cloud imaging platform across 27 hospitals, supporting more than four million imaging studies each year. So, Philips is locked into clinical workflows for years.
Personal Health surprised on the upside too. The segment delivered double-digit growth and unusually strong margins, driven by premium products like OneBlade and Sonicare. Management attributed the performance to innovation, commercial execution, and productivity.
Summing up the year, Jakobs stated鈥�
In 2025, we accelerated execution of a multi-year roadmap centered on AI-enabled, patient-centric, and scalable innovation platforms across our portfolio鈥� As a result, we entered 2026 well-positioned with strong innovations to drive profitable growth over the next three years, supported by a stronger pipeline and innovation platforms designed for scale.
Trillion-Dollar AI Stock No. 2: Omnicell Inc.
Omnicell Inc. (OMCL) is a true AI company hiding in plain sight.
For decades, the firm has helped hospitals and health systems handle the most fragile and failure-prone part of modern care: the storing, tracking, preparing, and dispensing of medications.
It sells machines and software that make sure the right drug reaches the right patient at the right time 鈥� an unglamorous responsibility, but one that sits at the center of healthcare safety and cost control.
In practice, Omnicell鈥檚 world looks like this: automated dispensing cabinets (the secure 鈥渕edication lockers鈥� nurses use at hospital units), central-pharmacy robots that package and count pills, software that tracks inventory and expiration dates across entire health networks, compounding systems that help prepare sterile IV medications, and the workflow tools that make sure everything moves smoothly. Hospitals buy this technology because mistakes are dangerous, shortages are expensive, and regulatory failures can shut down entire departments.
For most of its life, Omnicell made money like a traditional hardware manufacturer. A health system would buy a set of dispensing cabinets; Omnicell would install the equipment, recognize the revenue upfront, and wait for the next capital budget cycle. The result was a business that looked lumpy and cyclical.
But quietly, Omnicell has been rewiring itself into something very different: a recurring-revenue software and automation platform. The company is not simply selling cabinets anymore. It is building the nervous system of the hospital pharmacy 鈥� a unified robotics, software, and AI platform designed to automate one of the most error-prone and labor-strained corners of healthcare.
Over the last several years, Omnicell has expanded into subscription software, cloud services, analytics platforms, inventory-management programs, technical support contracts, and outsourced pharmacy solutions. These businesses renew month after month, year after year. They are steadier, higher margin, and are more deeply embedded in customer operations. Once a hospital begins relying on Omnicell鈥檚 workflow tools, dashboards, and analytics engines, it usually sticks around.
In 2020, services accounted for just 6% of revenue. In 2025, it approached 25%, then jumped to 44% this year. Profit margins and net income are benefiting from this strategic shift. Both metrics dipped into the red in 2022, but have been steadily recovering ever since.
Omnicell CEO Randall Lipps captured the moment succinctly鈥�
It is a unique time in the industry鈥� we鈥檝e been preparing for these upcoming years, and I think we鈥檝e done a good job. We鈥檙e excited to move forward and get back to solid growth.鈥�
Importantly, Omnicell鈥檚 pivot from selling hardware to services relies on a deepening use of AI, robotics, automation, and cloud-based orchestration.
Unlike many companies that talk about artificial intelligence without ever using it, Omnicell is integrating AI directly into the plumbing of medication handling 鈥� into the machines, software, and workflows that move thousands of doses every day through a hospital. AI powers its transformation from a hardware manufacturer into what management describes as 鈥渁n intelligent medication management technology company.鈥�
First quarter results validated that transformation: Revenue grew 15% year over year, adjusted EPS of $0.55 beat estimates, and the company raised its full-year EPS guidance by 8.6% to $1.80 to $2.00.
New product introductions should boost the positive momentum. The company鈥檚 next-generation automated dispensing cabinet, Omnicell Titan XT, ships later this year, followed by OmniSphere 鈥� the cloud-native control center that unifies all Omnicell devices, data, and workflows into a single digital hub.
At less than 20 times 2027 earnings for a company transitioning into a higher-margin, AI-enabled subscription business, Omnicell offers one of the more compelling risk-reward profiles in our healthcare holdings.
Trillion-Dollar AI Stock No. 3: Match Group Inc.
Match Group Inc. (MTCH) is in the business of making online love connections, but the company hasn鈥檛 been able to make a love connection with investors for several years. Most of them have been 鈥渟wiping left鈥� 鈥� i.e., saying 鈥渘o thanks鈥� 鈥� on the shares of this online dating leader. But the company鈥檚 new management is engineering an AI-powered overhaul that could produce a new era of robust earnings growth.
During the last few years, the company has resembled the kind of match that goes up in flames, rather than the one that sparks romantic flames. From the peak levels of 2019, the company鈥檚 annual revenues and operating margins have both tumbled more than 20%. As a result of this grim performance, the stock price has plummeted 80%.
But the green shoots of a turnaround are starting to sprout, and I expect them to blossom over the coming months. In essence, Match鈥檚 current situation is a classic turnaround setup: a market leader with entrenched competitive advantages, temporarily out of favor due to stagnant growth, but with a clear and credible revitalization plan.
Match is the undisputed titan of online dating websites and apps, with roughly 82 million monthly active users 鈥� about 16 million of whom pay for subscriptions 鈥� and an estimated 30鈥�40% global market share. Its portfolio includes Tinder, the world鈥檚 No. 1 dating app, along with more than a dozen other online dating brands like Hinge, OkCupid, Plenty of Fish, and Match.com.
However, despite the company鈥檚 formidable competitive moat, it has struggled in recent years to convert market leadership into profit growth. This disconnect enticed a couple of activist investors to take large positions in the company last year and begin agitating for an overhaul.
In early 2024, Elliott Investment Management, one of the world鈥檚 biggest and most prominent activist investors, revealed a $1 billion investment in Match. The company named two new directors to the board several weeks later. Shortly thereafter, Starboard Value established a 6.6% stake in the foundering online dating company.
After a lot of back-and-forth, Elliot managed to replace the company鈥檚 CEO with a hand-picked successor named Spencer Rascoff, formerly a co-founder of Zillow. Since taking over the helm seven months ago, Rascoff has wasted no time implementing a comprehensive, AI-focused overhaul. Under his leadership, the company has embraced a long-term vision where AI is not just an enhancement, but the foundational infrastructure for every aspect of the business.
Rascoff is pursuing a three-phase strategy he calls, 鈥淩eset, Revitalize, Resurgence.鈥� The initial 鈥淩eset鈥� phase focused on rebuilding culture, flattening management layers, and accelerating product velocity. That phase is now complete and the 鈥淩evitalize鈥� phase is underway. That鈥檚 the interlude when products start reflecting a renewed focus on 鈥渟peed, accountability, and relentless product execution.鈥� If all goes well, the 鈥淩esurgence鈥� phase will flower in 2026 and 2027.
AI is central to this entire strategy.
Match鈥檚 AI Upgrade
On the consumer side, Rascoff is deploying AI to reshape Match鈥檚 most important brands, Tinder and Hinge. At Hinge, for example, a new AI-powered recommendation algorithm launched in March 2025 has increased matches and contact exchanges by 15%. This meaningful improvement translates into more real-world dates and higher rates of payer conversion.
Additionally, the 鈥渙nboarding鈥� process at Hinge now offers generative AI tools to help users create their profiles. These tools provide real-time feedback on profile prompts to reduce generic answers and encourage more authentic, high-quality responses. Later in 2025, Hinge plans to launch AI 鈥渃oaching鈥� features such as 鈥淲arm Intros,鈥� which highlight meaningful profile details, and AI-generated conversation starters to help users 鈥渂reak the ice鈥� and sustain more engaging chats.
On the Tinder app, which is facing sharp user declines, Match is introducing an even broader suite of AI tools. This AI-enabled upgrade is prioritizing deeper compatibility and better user outcomes, rather than optimizing for superficial swiping or other short-term engagement metrics.
The new 鈥淒aily Drop鈥� feature, for example, is a matching system that delivers personalized recommendations designed to break the monotony of swipe-based interactions. Early tests in New Zealand are promising, and a global rollout is planned before year-end. Another new feature, 鈥淒ouble Date,鈥� enables group dating. This feature, which launched globally in June, has become an instant hit, especially among young female users. As Rascoff explains鈥�
[It gives] users a new social way to connect as a pair. Rolled out six months ahead of schedule, it鈥檚 showing strong early traction, with 92% of Double Date users being under 30. Women who are pairing up are three times more likely to send a like and four times more likely to match compared to when using Tinder solo.
AI is also improving trust and safety on Tinder 鈥� a major Achilles heel. New detection models can identify bots and scammers with higher accuracy. Match has also introduced AI-powered facial verification tools that increase authenticity and trust. The company is even testing ad campaigns that highlight these safety features, with plans to measure and improve public perception.
While these consumer-facing initiatives are critical to user growth and retention, Match is also using AI to transform its internal operations, making the company more efficient and more collaborative. For example, Match has deployed AI coding assistants like 鈥淐ursor鈥� globally to speed up development cycles and reduce engineering workloads.
Additionally, nearly 1,000 engineers now collaborate via a shared GitHub repository supported by AI-enabled tools, giving teams across different brands visibility into each other鈥檚 code and fostering the reuse of successful features. This infrastructure-first approach mirrors strategies used by larger tech firms like Meta and Microsoft, where platform-level AI capabilities create sustainable advantages in speed, consistency, and scalability.
Match has also created a centralized AI tooling group that builds and maintains shared AI infrastructure. This approach gives smaller brands in the company鈥檚 portfolio, like HER or The League, access to the same advanced capabilities as the flagship apps without having to duplicate engineering efforts.
By embedding AI at multiple touchpoints 鈥� from onboarding and match recommendations to internal product development 鈥� Match is building a unified ecosystem where data, technology, and human creativity reinforce each other. This dual focus on consumer experience and operational efficiency is not simply an experiment; it is the strategic foundation for the company鈥檚 revitalization plan.
Although this prospective turnaround is just getting under way, it is showing early signs of traction. Year-over-year declines in registrations and monthly active users have begun to moderate, and engagement metrics such as reciprocal chats and contact exchanges are improving.
Additionally, the growth trajectory at Hinge continues to gain momentum. Shown in the chart below, during the second quarter of 2025, the brand鈥檚 revenues jumped 25% year-over-year, while its user base increased 15%. Hinge’s revenue then jumped again in the fourth quarter of 2024, rising 26% year-over-year. There鈥檚 a lot of blue sky over those numbers, now that Match is exporting Hinge to dozens of new countries. At present, Hinge operates in over 25 countries, compared to Tinder鈥檚 footprint of 190-plus countries.
Looking down the road, Rascoff declares, 鈥淲e are operating like a company that is just getting started, and we believe the best chapters of this category and company are still ahead.鈥�
Even though Match falls squarely into the 鈥渢urnaround play鈥� category, the down-and-out version of Match was never particularly down or out. Yes, Tinder鈥檚 active users slumped for several quarters, and company revenue dipped from peak levels. But even so, the company maintained high profitability, robust free cash flow, and a commanding global market position.
Match remains the category leader that possesses an enviable scale advantage. In the age of AI, that scale confers a powerful strategic asset: the data generated by millions of daily interactions. Match鈥檚 rich, real-time behavioral dataset offers an unmatched training ground for advanced machine learning models. This is exactly the lever Rascoff is now pulling to rebuild growth.
Financially, Match remains on solid ground. Despite a brief dip in 2022, free cash flow has consistently ranged between $800 million and $900 million annually since 2020, until the fourth quarter of 2025, when it hit $1 billion. The company鈥檚 net debt has been trending lower for several years and cash generation remains strong, which gives Match the flexibility to invest in AI initiatives, marketing, and new app development without risking a flameout.
Assuming the new AI-led initiatives can stabilize and then grow Tinder鈥檚 user base, while Hinge continues its strong growth trajectory and international expansion, Match shares could mount a substantial rally.
Moving Forward
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Regards,
抖阴最新版
Editor, Smart Money
