TSP Weekly Tech Stock Update—July 5, 2025
This Week: Datadog added to S&P 500, MSFT/CRWD/AVGO new all-time highs, Figma to go public, Mizuho bullish on Broadcom, why Macquarie likes GitLab, Apple AI update, Canaccord lifts SPOT target & more.
Hello from Rob…
—Shares of Spotify (SPOT, $725.05) recently hit a new all-time high of $785. The stock has risen 44% since I called out its out its outperformance in early April. This week, Canaccord raised its Spotify price target to $850 from $775, noting the company’s strong leadership position, pricing power and developing ad tech capabilities.
—Datadog (DDOG, $155.15) shares jumped 14.9% on Thursday on the announcement that the stock will be added to the S&P 500 Index next week. The shares have gained 31% since I wrote about Datadog at the end of May.
—One to Watch: Figma (FIG), a platform for design and product development, has filed to go public. In 2024, total revenue rose 48% to $749 million. In Q1 2025, total revenue of $228.2 million gained 46%. The platform has more than 13 million monthly active users, with two-thirds being non-designers. Figma is used by 95% of the Fortune 500 and 78% of the Global 2000. The company estimates its total addressable market at $33 billion.
*Inside This Issue: Apple Shares In Rebound Mode
—Paid subscribers will receive the July 2025 PDF of Tech-Stock Prospector (TSP #281) via email on Tuesday, July 8.
—Paid subscribers have access to the TSP Market Overview and TSP Portfolio Updates sections inside this issue.