As promised, Apple has introduced its latest MacBook Pro and MacBook Air products, featuring M5 chips and fresh Studio Display roster. The product rollouts come with a cost, as the company hiked prices of MacBook Air by $100 while the latest M5 Max price spiked by $400.
Despite today’s market sell-off, Wall Street analysts can see the forest from the trees and remain bullish on hyperscalers.
Wedbush analysts have lifted their price target on Nvidia (Nasdaq: NVDA) stock by $70 per share to $300 per share.
Barclays analysts lifted their price target on Apple (Nasdaq; AAPL) to $248 per share but remain cautious with an “underweight” rating on the stock.
Wells Fargo has reemphasized its “overweight” rating on Nvidia stock ahead of the company’s high-profile GTC event later this month. Oppenheimer analysts reiterated their “outperform” rating on Netflix (Nasdaq: NFLX) stock, suggesting the stock has additional runway for gains.
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The stock market is once again in freefall as the Mideast tensions escalate with no clear end in sight. Technology stocks are taking a beating, falling as much as 2% in pre-market and trimming those losses only modestly at the open. Meanwhile, the bottom has once again fallen out in the Dow Jones Industrial Average, which is spiraling by over 800 points while the S&P 500 is not doing much better, down 1.6%.
Big Tech stocks are not immune to today’s selling, with leadership names including Nvidia (Nasdaq: NVDA | NVDA Price Prediction), Tesla (Nasdaq; TSLA), AMD (Nasdaq; AMD) and Micron Technology (Nasdaq; MU) all reeling and pressuring the Nasdaq Composite to its steep declines. Even Bitcoin can’t navigate its way out of the turmoil, continuing to hover in the $66K area.
Commodity prices are skyrocketing, including natural gas after an LNG facility was struck in Qatar. As Goldman Sachs predicted, the Strait of Hormuz may be closed, though clarity on the situation remains murky, as natural gas supply is thrust into the spotlight. The Brent oil price has climbed above the $83/barrel level but even the energy sector has been unable to avoid today’s sell-off. Rising commodity prices have triggered fears of inflation continuing to rear its head, thereby injecting greater uncertainty into the rate cut dynamic for 2026.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 48,027.57 Down 841.19 (-1.72%)
Nasdaq Composite: 22,342.88 Down 406.57 (-1.79%)
S&P 500: 6,776.33 Down 105.29 (-1.54%)
Pinterest (NYSE: PINS) is a rare gainer in today’s market, tacking on 6.2% on the heels of a $1 billion stake by activist investor Elliott Management alongside the announcement of a share buyback program.
Big box retailer Target (NYSE: TGT) is gaining almost 5% today on a strong earnings print and sanguine outlook, yet another sign of the resilient consumer.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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