Midday movers: Apple, Nvidia, Intel, Coinbase and Moderna fall

Mizuho Downgrades Intel (INTC) to Neutral, 'Widening Technology Gap'

Mizuho analyst Vijay Rakesh downgraded Intel (NASDAQ: INTC) from Outperform to Neutral with a price target of $22.00 (from $36.00).

The analyst comments "We upgraded INTC in Nov'23 on strong AI ramps, and new products driving PC/DC traction. Fast-forward 9 months,... More

BofA Securities on Apple (AAPL): 'we see the potential for consensus estimates to be revised higher'

BofA Securities analyst Wamsi Mohan reiterated a Buy rating and $256.00 price target on Apple (NASDAQ: AAPL).

The analyst comments "

As per SensorTower data, App Store revenues in F4Q (after 36 days) increased to $3.0bn (+12% y/y, according to data on developer revs from... More

Deutsche Bank Upgrades Moderna (MRNA) to Hold, 'a more troublesome Winter’s Tale, but up to Hold'

Deutsche Bank analyst Emmanuel Papadakis upgraded Moderna (NASDAQ: MRNA) from Sell to Hold with a price target of $80.00 (from $85.00).

The analyst comments "We update after Q2s difficult print (Moderna: Q2 first take. Set to be pursued by many bears?*: winter reckoning arrives early (01/08/24)), which delivered the triple-blow of downgraded revenue, reduced gross margin and maintained... More

New Street Research Upgrades NVIDIA (NVDA) to Buy

(Updated - August 6, 2024 9:12 AM EDT)

New Street Research analyst Pierre Ferragu upgraded NVIDIA (NASDAQ: NVDA) from Neutral to Buy with a price target of $120.00.

The analyst comments "Since the peak of June, Nvidias stock has pulled back by 26%, underperforming most... More

Rosenblatt Defending NVIDIA (NVDA)

Rosenblatt analyst Hans Mosesmann reiterated a Buy rating and $200.00 price target on NVIDIA (NASDAQ: NVDA).

The analyst comments "NVDA shares are under pressure due to continued rumors of a several-month delay in Blackwell B200 GPUs due to an undisclosed silicon flaw.... More

BioNTech (BNTX) PT Lowered to $93 at Morgan Stanley

Morgan Stanley analyst Terence Flynn lowered the price target on BioNTech (NASDAQ: BNTX) to $93.00 (from $101.00) while maintaining a Equalweight rating.

The analyst comments "BNTX reported a beat on revs but a miss on the bottom line due to higher OpEx. 2024 guidance was reiterated. Upcoming... More

Morgan Stanley 6th Annual Internal Survey of Their Interns on Tesla (TSLA) Reveals: 'Tesla 'cool factor' is... cooling'

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $310.00 price target on Tesla (NASDAQ: TSLA)

The analyst comments "Tesla 'cool factor' is... cooling. The interns prefer gasoline powered cars over EVs by nearly 2 to 1. Tesla further declined as the most desirable brand to 11% (vs. 14% last year, 19% in 22, and 30% in 21). The share... More

Deutsche Bank Defending NVIDIA (NVDA): 'AI demand as measured by capex spend appears to be healthy' , 'We see little financial risk'

Deutsche Bank analyst Ross Seymore reiterated a Hold rating and $100.00 price target on NVIDIA (NASDAQ: NVDA)

The analyst comments "We see little financial risk to NVDA in the near term for its upcoming report/guide (NVDA reports Aug 28) given still-strong demand from... More

Magnificent 7 stocks slide amid tech slump

The Magnificent 7 stocks experienced significant declines on Monday as the tech sector and broader market faced a severe sell-off.

While the stocks have begun to recover slightly following the opening bell, Apple (NASDAQ: AAPL) is currently down more than 5%, while NVIDIA (NASDAQ:... More