Time to load up on mega-caps again - Goldman Sachs

Judge denies re-trial in Tesla (TSLA) racial harassment case

October 4, 2023 2:05 PM EDT

U.S. District Judge William Orrick, on Wednesday ruled against ordering a third trial in a race discrimination lawsuit filed against Tesla (NASDAQ: TSLA).

The decision came in response to allegations made by a former Black factory worker, who claimed that the... More

China criticizes EU following formal launch of EV subsidy probe

October 4, 2023 9:39 AM EDT

China raised concerns on Wednesday about the very limited time it was given by the European Union for talks regarding the EU's investigation into subsidies for electric vehicles.

These comments came as the European Commission officially started looking into whether to impose tariffs to shield EU manufacturers from a flood of cheaper Chinese electric vehicles that are believed to benefit from state subsidies.

The... More

AI will be 'incrementally positive' to Google ad sales in 2H, search share remains stable - BofA

October 4, 2023 8:58 AM EDT

Alphabet (NASDAQ: GOOGL) owned Google's share of the search market remains relatively stable despite concerns following the launch of ChatGPT late last year.

That is the view of BofA analyst Justin Post, who revealed in a note Wednesday that both Google and Bing's market share declined in September.

"Statcounter's data indicates Google's search... More

Apple (AAPL) stock dips as KeyBanc downgrades on valuation, 'soft growth' outlook

October 4, 2023 5:00 AM EDT

KeyBanc analyst Brandon Nispel downgraded Apple (NASDAQ: AAPL) shares to Sector Weight from Overweight.

As a result, Apple stock traded 1.2% lower in early New York trading on Wednesday.

The downgrade call on Apple stock is based on several factors:

Valuation: AAPL is currently trading at near all-time high multiples and carries a significant premium compared to historical levels and the Nasdaq index. This... More

Warren Buffet-backed BYD closing in on Tesla (TSLA) EV sales

October 3, 2023 3:23 PM EDT

Tesla's (NASDAQ: TSLA) underwhelming third-quarter delivery figures have opened a door for its nearest competitor, BYD, the Chinese electric vehicle juggernaut backed by Warren Buffett's Berkshire Hathaway, to potentially claim the top spot in the electric car market rankings.

Last quarter, Tesla managed to sell... More

Tesla (TSLA) brings back rear-wheel Model Y at discounted price

October 3, 2023 10:27 AM EDT

Tesla Inc. (NASDAQ: TSLA) has reintroduced the rear-wheel-drive version of its Model Y crossover in the United States, following a third-quarter delivery report that didn't meet Wall Street's projections.

The Model Y, introduced for deliveries in March 2020, remains the top-selling model for the... More

This tech giant will be an AI winner - Piper Sandler

October 3, 2023 10:12 AM EDT

In a note to clients Tuesday, Piper Sandler analyst Thomas Champion revealed one technology giant they expect to be an artificial intelligence winner.

Champion, who has an Overweight rating and a $147 price target on the stock, down from $148, said purchase commitments signal further AI investment from the company.

The firm expects Alphabet's (NASDAQ: GOOGL) Google to be an... More

KeyBanc supply chain findings most positive for NVIDIA (NVDA)

October 3, 2023 8:45 AM EDT

The NVIDIA (NASDAQ: NVDA) price target was raised to $750 from $670 at KeyBanc Capital in a note Tuesday, with analyst John Vinh maintaining an Overweight rating on the stock.

Vinh told investors in the note covering semiconductor stocks that their quarterly supply chain findings... More

JPMorgan's top quant Kolanovic sees similarities to 2007

October 3, 2023 5:35 AM EDT

Marko Kolanovic, a renowned strategist at JPMorgan Chase & Co., believes there are some similarities in investor sentiment today to the period leading up to the global financial crisis (GFC) of 2007-2008.

In his regular column to JPMorgans clients, he once again reiterated warnings about challenging macroeconomic fundamentals and headwinds for risk assets.

While Kolanovic acknowledges that the current situation is not identical to that time, he highlights certain common themes that warrant caution.

Kolanovic points out that investors are displaying optimism due to expectations... More

Apple is implementing changes to its App Store rules as China tightens grip

October 3, 2023 5:22 AM EDT

Apple (NASDAQ: AAPL) has implemented a new requirement for app developers wishing to release their apps on the China App Store, Reuters reported Tuesday.

Starting recently, Apple now mandates that new apps must provide proof of a Chinese government license before they can be published on its platform. This move aligns Apple with local... More

Buy this asset class as Wall Street is 'stuck' says BofA quant strategist

October 2, 2023 10:56 AM EDT

Wall Street is bearish and stuck, according to BofA equity and quant strategist Savita Subramanian in a note Monday.

Subramanian told investors to buy stocks and sell bonds as Wall Street is "conviction-less," and sentiment is unchanged since July despite the macro drama.

"Our Sell Side Indicator (SSI) is a contrarian sentiment barometer that tracks sell side strategists' average recommended... More