"The major indices are exploding higher - again. All thanks to impressive earnings, cooling trade war tensions, interest rate cuts from the Federal Reserve, and cooling inflation. No wonder analysts are still pounding the table, especially over tech giants, including:"
"Apple (NASDAQ: AAPL): Apple's earnings were hot thanks to iPhone 17 sales. EPS of $1.85 was above the estimates of $1.77. Revenue of $102.47 billion was above estimates of $102.24 billion. Even better, according to Apple CEO Tim Cook, revenue in the current quarter will rise by at least 10% thanks to the strong reception of the company's iPhone 17 sales."
"Nvidia (NASDAQ: NVDA): Goldman Sachs just reiterated its buy rating on Nvidia with a price target of $240 a share from $210. The firm says investor expectations have increased in the quarter, thanks to AI infrastructure news. It also expects NVDA to beat and raise this quarter. Goldman Sachs is also looking for stock-moving news on NVDA's $500 billion revenue forecast, details on OpenAI, plans for its Rubin chip, and its potential resumption of business in China. First Solar (NASDAQ: FSLR): Analysts at Bank of America just reiterated its buy rating on First Solar, raising its price target to $255 from $245 after earnings. The firm noted that it was impressed with the solar giant's de-risked earnings growth and its potential cash build projected for later in the decade."
Major U.S. stock indices surged as strong corporate earnings combined with easing trade tensions, cooling inflation, and expected Federal Reserve rate cuts. Apple beat EPS and revenue estimates driven by iPhone 17 sales and guided for at least 10% revenue growth next quarter, prompting multiple buy and overweight ratings and higher price targets. Amazon posted stronger-than-expected EPS and revenue and received a reiterated buy with a $303 target. Nvidia saw upgraded targets and investor enthusiasm tied to AI infrastructure and potential major announcements. First Solar earned a higher price target for de-risked growth and projected cash build.
Read at 24/7 Wall St.
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