Tech Stocks Drop Ahead of FOMC but This Top Analyst Says It's Still Not Time to Buy

Adam Crisafulli of Vital Knowledge on Market Rally: 'If the market wants to have a 'could have been worse' rally, so be it, but it won't last long, winter is still coming'

Analyst Adam Cr of Vital Knowledge comments "How bears view the Fed anyone who tries to spin this announcement as bullish is nuts. The Fed has jacked up rates 300bp already this year and it will do another 125bp before 12/31 (75bp on 11/2 and 50bp on 12/14) coupled with ~50bp in 2023 while... More

Wells Fargo Puts Fed Funds Peak at 4-4.25 Percent, 'We expected a downshift to 50 bps at the November FOMC'

Wells Fargo Chief Economist Jay Bryson comments "At the start of the year, the Federal Reserve was still easing monetary policy via purchases of Treasury securities and mortgage-backed securities. Just nine months later, the median FOMC participant expects the federal funds rate to finish the year 4.4%, a rate not... More

Apple (AAPL) To Move Nearly 25% of Supply Chain Outside of China, 25% of iPhones Could Be Produced in India - JPMorgan

Apple (NASDAQ: AAPL) To Move Nearly 25% of Supply Chain Outside of China, 25% of iPhones Could Be Produced in India - JPMorgan

Analyst Gokul Hariharan comments "We are seeing more aggressive plans for production relocation and forecast that ~25% of Apple products will be manufactured outside China by 2025 (compared to... More

Tesla (TSLA) Battery Fire at PG&E (PCG) Facility Shuts Down Highway

A section of highway in California was closed around 1:30am this morning after PG&E (NYSE: PCG) became aware of a fire in one Tesla (NASDAQ: TSLA) Megapack at its Elkhorn Battery Storage facility in Monterey County. The California Highway Patrol told... More

Morgan Stanley Remains Bullish as Tesla (TSLA) Passes 'Peak China Dependency'

Morgan Stanley reiterated an Overweight rating and $383 price target on American electric automaker, Tesla (NASDAQ: TSLA) after examining the companys position in China.

The electric vehicle market in China was valued at $124.2 billion in 2021 and is expected to grow to $799 billion in 2027 as per Mordor Intelligence. China currently accounts for 62% of the total global BEV sales. Teslas market share is around 9%. However, the Model Y remains the second most... More

Tesla (TSLA) Completes Expansion at Shanghai Plant

Reuters reports today that a project to expand production capacity at Teslas (NASDAQ: TSLA) has been completed, according to a statement on a Shanghai government platform for companies' environmental information disclosures.

Previous reports show that the electric vehicle company had... More

Apple (AAPL) Asking Manufacture to Switch Lines to iPhone 14 Pro Models - Ming-Chi Kuo

Apple (NASDAQ: AAPL) analyst Ming-Chi Kuo from TF International Securities said "Due to strong demand for the iPhone 14 Pro models, my latest survey indicates that Apple has asked Hon Hai to switch the production lines of the iPhone 14 to the iPhone 14 Pro models,... More

UPDATE: Amazon (AMZN) More Resilient, 'But Not Immune' - BofA

(Updated - September 19, 2022 10:17 AM EDT)

BofA analyst Justin Post reaffirmed a Buy rating and $170 price target on Amazon (NASDAQ: AMZN) shares Monday, saying that Amazon should be more resilient to the economic slowdown but not immune.

The note followed Amazon's more than 2% fall Friday after FedEx pre-announced Q1 results,... More

Bernstein Expects EV Battery Demand to Rise; Will IRA Budget be Enough?

When U.S. President Joe Biden signed the Inflation Reduction Act (IRA) into law in August, he called it an historic step to fight inflation, lower costs, and create jobs that corporations cant ship overseas. The law was designed to do several things, not least of which was to combat climate change through clean energy and electric vehicle (EV) tax incentives.

Under the new law,... More

Goldman Lowers U.S. GDP Forecast and Raises Unemployment Rate Estimate to Reflect Lower Growth Path

Jan Hatzius, the chief economist of investment bank Goldman Sachs, updated the banks GDP and unemployment forecasts in 2023 to reflect a higher rates path.

A series of moves come after the banks strategists raised the fed funds rate forecast by 75bp over the last two weeks. Goldman Sachs now expects that... More