Oracle stock is dampening sentiment in the technology sector amid reports that financing for the development of its AI data center in Michigan has unraveled after Blue Owl Capital backed out. ORCL shares are tumbling by almost 5% today as the stock falls further from the $200-per-share threshold. OWL shares are down 2% on the day. Oracle has shaved 40% off its market cap over the past three months.
The Nasdaq Composite is now down 1.1% on the day.
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Morgan Stanley analysts are bullish on Apple (Nasdaq: AAPL) stock, lifting the price target by $10 to $315 per share with an “overweight” rating attached. APPL stock is up fractionally today.
Bernstein analysts are at it again, today reemphasizing their “outperform” ratings on both Nvidia (Nasdaq: NVDA) and Broadcom (Nasdaq; AVGO), suggesting investors add both stocks to their portfolio if they haven’t already. Despite fears of an AI bubble, both of these companies continue to keep the capex spigot turned on.
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