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A surprisingly strong second quarter deliveries figure was boosting Tesla stock for a second day on Wednesday as shares continue their rally over the last month...
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Software stocks are gaining attention as investors identify potential market upside. Victor Cossel, Seaport Research Partners senior macro and equity strategist, joins Market Domination to offer guidance on navigating this sector. Cossel reflects on the sector's journey, noting that software stocks faced negative sentiment early in the year. Many investors believed that "AI would disintermediate" numerous companies in this space. However, Cossel argues that this sentiment has been "overdone," pointing to the continued strong performance of industry leaders like Salesforce (CRM) and Adobe (ADBE). Turning to market dynamics, Cossel highlights emerging trends: "We're seeing a lot of familiar reversal patterns in software stocks." He adds, "It's the reversal formation that really caught our attention. The prior consolidation that... springboards to the upside." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith...
Continue ReadingHiya, folks, and welcome to TechCrunch’s regular AI newsletter. This week in AI, the U.S. Supreme Court struck down "Chevron deference," a 40-year-old ruling on federal agencies' power that required courts to defer to agencies' interpretations of congressional laws. Chevron deference let agencies make their own rules when Congress left aspects of its statutes ambiguous. Now the courts will be expected to exercise their own legal judgment -- and the effects could be wide-reaching. Axios' Scott Ro...
Continue ReadingTesla stock received several price target increases Tuesday and Wednesday following second-quarter global vehicle deliveries coming in above analyst expectations even as the total number declined compared to a year ago. Following Tesla's deliveries release Tuesday, TSLA closed up 10.2% at 231.26. As TSLA surged, Guggenheim raised its price target on Tesla stock to 134, up from 126, and kept a sell rating...
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The average price paid is expected to fall this year for the first time since 2008, but interest rates are keeping payments high...
Continue ReadingA big Tesla bull just got even more bullish...
Continue ReadingInvestors hope advanced hardware required to run complex artificial-intelligence-based computing will drive Apple iPhone users to upgrade their handsets, but satellite connectivity might matter more. Since Apple unveiled new AI features at its June developer conference, its stock has climbed about 15%, creating about $420 billion in market value. “Apple’s AI strategy will leverage its golden installed base around personalization and [large language models] on the phone that should change the growth trajectory of Cupertino [and] spur an AI-driven iPhone upgrade cycle starting with iPhone 16,” wrote Wedbush analyst Dan Ives after the event...
Continue ReadingTesla’s second-quarter car deliveries were fine. The amount of battery storage deployed in the second quarter was a wow...
Continue ReadingU.S. equities were mixed at midday Wednesday, July 3, 2024 just ahead of the close of a holiday-shortened session after a report showed private sector job creation slowed in June...
Continue ReadingWedbush Securities has increased its price target on Tesla (TSLA) to $300 from $275 following the automaker's second quarter vehicle delivery performance, which beat expectations. Dan Ives, managing director and senior equity analyst at Wedbush Securities, offers insights into this outlook. Ives acknowledges that the electric vehicle maker has had a "tough" six to nine months but says that Q2 is a "turning point." He emphasizes the potential of Tesla's artificial intelligence initiatives, suggesting that the "AI story alone is worth a trillion dollars at Tesla." Regarding Tesla's autonomous vehicle ambitions, Ives highlights the ongoing development of the robotaxi. He anticipates that select cities could witness robotaxi deployments within the next 18 to 24 months, noting that "the technology is getting closer and closer." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith...
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