Tech investor Paul Meeks identified the FAANG stock he would currently stay away from despite the recent rout in the broader sector, saying parts of the company’s business “could be in some trouble.” That company is e-commerce giant Amazon , whose shares have dropped more than 30% so far this year, as of the Thursday close. “In the United States, …
Here are Thursday’s biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said in a note Wednesday night that reports of iPhone 14 delays are overblown. “Our supply chain checks don’t indicate delays, and looking at past flagship iPhone launches, there’s minimal impact to FY shipments or AAPL stock performance when a model launch is delayed.” …
Steve Proehl | Corbis Unreleased | Getty Images Apple said on Wednesday that it will raise pay for corporate and retail workers later this year. The move comes during a historically tight labor market in the U.S. and as employees contend with increased inflation and cost of living. Apple’s move comes after Google, Amazon and Microsoft made changes to their …
Nvidia CEO Jensen Huang speaks during a press conference at The MGM during CES 2018 in Las Vegas on January 7, 2018. Mandel Ngan | AFP | Getty Images Nvidia reported fiscal first-quarter earnings on Wednesday, beating analyst expectations for sales and earnings, but the stock dropped more than 10% in extended trading at one point after the chipmaker gave …
Here are Wednesday’s biggest calls on Wall Street: Oppenheimer upgrades CME to outperform from perform Oppenheimer said that the exchange company a good defensive play in a bear market. “We are upgrading CME from Perform to Outperform and introducing a price target of $223. The upgrade is predicated upon our assumption that no extreme events and recession are imminent, and …
Commerce Secretary Gina Raimondo testifies before a Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies hearing on Capitol Hill in Washington, D.C., U.S., February 1, 2022. Andrew Harnik | Reuters U.S. Commerce Secretary Gina Raimondo on Wednesday urged Congress to pass the CHIPS for America Act in order to safeguard national security and the future of the economy. …
A massive sell-off in semiconductor stocks this year has created an opportunity to buy the dip, Morgan Stanley says, naming the two global chipmakers it expects to dominate. Semiconductor stocks have taken a beating this year, amid a broader sell-off across the tech sector. But Morgan Stanley believes this has created an opportunity to invest in some of the “highest …
A man photographs a banner for Snap Inc. on the facade of the New York Stock Exchange on the morning of the company’s IPO in New York City, March 2, 2017. Brendan McDermid | Reuters Check out the companies making headlines in midday trading Tuesday. Snap — Shares of Snapchat’s parent company plummeted 41.2% after Snap said it’s unlikely to …
“The Big Short” investor Michael Burry, known for calling the subprime mortgage crisis, is drawing parallels between today’s market environment and that of 2008, saying it’s like “watching a plane crash.” Burry, who now runs a hedge fund at Scion Asset Management, struck a pessimistic tone in a tweet Tuesday as the sell-off resumed on Wall Street. The famed investor’s …
Take a look at some of the biggest movers in the premarket: Electronic Arts (EA) – The video game maker’s shares rose 2.5% in the premarket after Puck News reported that the company was actively seeking a buyer or merger partner. EA has reportedly held talks with Walt Disney (DIS), Apple (AAPL) and Amazon (AMZN), among others. VMWare (VMW) – …
