Novo Nordisk (NVO) started this week with the announcement that it would slash its blockbuster obesity drug. NVO stock initially fell below $48 before closing at $48.46 on Monday.
Novo will match Eli Lilly’s (LLY) Zepound drug price cut. It will lower the price of Wegovy to as low as $199 a month up until March 31, 2026. After that, the price is $349/month. That is 30% below the current self-pay price.
Later this year, Novo might have an oral GLP-1 (as opposed to an injectable).
Alphabet (GOOGL) received an unexpected vote from value investor legend Warren Buffett. Berkshire Hathaway (BRK-B) revealed a position in the search engine giant at the end of Q3. Alphabet owns YouTube for media exposure, developed TPUs, which compete with Nvidia’s (NVDA) processors, and has a good AI (Gemini).
Dell Technologies (DELL), HP Inc. (HPQ), and Hewlett-Packard Enterprise (HPQ) fell after an analyst downgraded them. Dell PC sales will likely fall after Samsung (SSNLF) joined the industry to hike prices by 60%. Last month, PC makers paid nearly double the price for DDR5 memory chips.
Dell is a value trap. The firm announced a partnership with Nvidia to help deliver AI computing servers. In a red-hot AI bubble market, DELL stock would have risen. But weak PC sales are set to hurt its revenue.
