What companies are likely to do next
Strategy calls drawn from each company's own disclosures, ranked by our confidence. Open a company for the reasoning and the signals that would confirm or refute each call.
CAHHigh confidence
Keep share repurchases as the main use of excess cash through FY27, likely executing additional programs under the $5.0 billion authorization.
Cardinal HealthRead the analysisCIHigh confidence
Lean on Specialty and Care Services, rather than Pharmacy Benefit Services, as the main Evernorth profit engine through the 2027-2028 rebate-free transition.
CignaRead the analysisCORHigh confidence
Close the American Oncology Network merger and fold it, with OneOncology, into a single community-oncology MSO business inside the new specialty-focused structure.
CencoraRead the analysisCOSTHigh confidence
A heavier, internationally tilted build-out in fiscal 2027, with openings and capital spending at multi-year highs.
CostcoRead the analysisCOSTHigh confidence
Tariff refunds used to fund visible price cuts on goods rather than to widen margins.
CostcoRead the analysisMETAHigh confidence
Pay for the AI buildout with outside capital and pause buybacks, instead of funding it from free cash flow
Meta PlatformsRead the analysisMSFTHigh confidence
Keep funding the AI infrastructure build with a larger share of debt, with further bond issuance in the coming year rather than a pullback in capital spending.
MicrosoftRead the analysisNVDAHigh confidence
Larger U.S. and Latin American manufacturing commitments, with higher fiscal 2027 capex and more prepaid capacity agreements.
NvidiaRead the analysisAAPLHigh confidence
Keep R&D growing faster than revenue, with a growing share going to AI compute and data center capacity, and a related rise in capital commitments.
Apple Inc.Read the analysisAMZNHigh confidence
Keep capital spending on AI infrastructure high, and fund more of it with debt from several currency markets rather than slowing the build-out
AmazonRead the analysisGOOGLHigh confidence
Keep Alphabet as the dominant funder of Waymo through its international rollout, rather than ceding control to outside investors.
Alphabet Inc. (Class A)Read the analysisMCKHigh confidence
Keep a large share-repurchase program going, funded partly by divestiture and Medical-Surgical capital-raising proceeds.
McKessonRead the analysisUNHHigh confidence
A second consecutive year of Medicare Advantage retrenchment for 2027: more county exits, leaner benefits and higher member premiums, accepting further membership loss.
UnitedHealth GroupRead the analysisUNHHigh confidence
Optum Health narrows to fewer, more controllable value-based markets, with further exits, contract renegotiations and conversions of risk contracts to fee-based arrangements.
UnitedHealth GroupRead the analysisWMTHigh confidence
Push more cost out of fulfillment through automation and the merged Walmart-Sam's supply chain, aiming to restore operating-income leverage.
WalmartRead the analysisBRK.BMedium confidence
Share repurchases become a standing capital-return channel under the new CEO, rather than an occasional one.
Berkshire HathawayRead the analysisBRK.BMedium confidence
GEICO keeps funding policy growth with higher advertising and acquisition spending, accepting a higher expense ratio, while pushing rates to offset rising bodily injury severity.
Berkshire HathawayRead the analysisCAHMedium confidence
Tilt growth investment and possibly tuck-in acquisitions toward the 'Other' businesses (nuclear/precision health, at-home, OptiFreight), where guidance was raised most.
Cardinal HealthRead the analysisCIMedium confidence
Prioritize debt reduction and keep share repurchases well below the 2025 pace while Accelerate to One is funded.
CignaRead the analysisCORMedium confidence
Divest or otherwise separate MWI Animal Health, Profarma, U.S. Consulting Services and non-strategic PharmaLex units.
CencoraRead the analysisMETAMedium confidence
Use the new non-voting Class C stock as an equity currency for funding, compensation or acquisitions without diluting the controlling holder's vote
Meta PlatformsRead the analysisMSFTMedium confidence
Push deeper into in-house chip and hardware design for its datacenters, with silicon becoming a larger share of engineering investment.
MicrosoftRead the analysisNVDAMedium confidence
A dedicated inference product line or architecture variant built on the licensed Groq technology, sitting alongside the general-purpose GPU roadmap.
NvidiaRead the analysisAAPLMedium confidence
Turn AI into a paid services line by tying expanded Apple Intelligence and Siri features to cloud service tiers.
Apple Inc.Read the analysisAMZNMedium confidence
Grow Trainium and Graviton into a business line in their own right and use them to lock in long-term capacity deals with AI labs and large enterprises
AmazonRead the analysisCVSMedium confidence
Manage 2027 Medicare Advantage for margin rather than membership, accepting further enrollment shrinkage, while running a stars-remediation effort aimed at the 2028 bonus year.
CVS HealthRead the analysisCVSMedium confidence
Continue narrowing the Oak Street Health and Signify Health footprint toward clinics and assessments that feed Aetna and Caremark, rather than standalone multi-payor expansion.
CVS HealthRead the analysisGOOGLMedium confidence
Turn TPUs from an internal advantage into a distinct merchant hardware business, selling complete TPU systems to outside customers rather than only renting capacity in Google Cloud.
Alphabet Inc. (Class A)Read the analysisMCKMedium confidence
Turn Medical-Surgical into a self-financed standalone company that sends cash back to the parent before the final separation step.
McKessonRead the analysisWMTMedium confidence
Prioritize making Walmart's catalog and ads work inside AI and agentic shopping tools, not only its own apps, led by the new AI Acceleration executive role.
WalmartRead the analysisStratGraph publishes general, impersonal research about public companies based on public filings. It is not investment advice, not a recommendation to buy, sell or hold any security, and not tailored to any reader's circumstances. Content may contain errors and may be partly generated with AI tools; verify against the original filings, which are linked. Authors may not trade securities discussed within the window set by our trading policy. Full disclaimer.