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Since July 1, Visa has rallied from $351 to $414. Mastercard also caught a bid. Why? Well, money flowed out of volatile AI and semis into safer havens like credit cards. It's like the market remembered that credit card companies make money. After all, Visa is everywhere and enjoys a duopoly with Mastercard. Both act as a toll both, taking a small cut every time a consumer taps their card or a merchant accepts a payment. On Oct. 27, Visa reported strong Q4 numbers: payments volume rose 9% year over year, processed transactions climbed 10%, cross-border transactions jumped 14%, and e-commerce grew 17%. Earnings beat the street (narrowly) the past four quarters and continue to trend higher. The report inspired two upgrades, hiking the price target to from $426 to $464 (when averaged out). The only knock against Visa was that shares ran up heading into the print, and lost ground immediately after reporting until rallying again on Oct. 29 on strong volumes. Definitely one to buy and hold for a long time.