Midday movers: Nvidia and Apple fall as investors flee megacap tech

BofA Securities Previews Amazon.com (AMZN) Prime Day, 'Discounts starting earlier, and broader, than prior years'

BofA Securities analyst Justin Post reiterated a Buy rating and $220.00 price target on Amazon.com (NASDAQ: AMZN).

The analyst comments "In our view, this years press release was more focused on early access deals and discounted services than last year,... More

Morgan Stanley Elevates Apple (AAPL) to Top Pick

Morgan Stanley analyst Erik Woodring reiterated an Overweight rating and $273.00 price target on Apple (NASDAQ: AAPL)

The analyst comments "Apple Intelligence is a clear catalyst for a multi-year product upgrade cycle; Elevating Apple to Top Pick with new $273 PT (up from $216). As we noted in our June 10th post-WWDC report, we have high conviction that the launch, and limited backwards compatibility, of Apple Intelligence can... More

Spotify has upside to consensus due to higher margin verticals - Wolfe Research

Wolfe Research initiated coverage of Spotify (NYSE: SPOT) with an Outperform rating and a $390 price target in a note Friday, with the new target representing a potential 28% upside.

Wolfe analysts believe Spotify is undervalued, trading at 26x CY25E P/FCF, despite its significant exposure to the faster-growing streaming market compared to Universal Music Group (UMG).

The firm notes that Spotify, holding approximately one-third of the global music... More

QuantumScape shares surges 35% after partnering with Volkswagen's battery company PowerCo

QuantumScape (NYSE: QS) shares soared by as much as 35% on Thursday following the announcement of a strategic partnership with PowerCo, Volkswagen Groups battery company.

The collaboration aims to industrialize QuantumScapes next-generation solid-state lithium-metal battery technology.

Under the agreement, QuantumScape will grant PowerCo a license to mass-produce battery cells based on its innovative technology platform, contingent upon satisfactory technical progress and royalty payments.

PowerCo will have the capacity to manufacture up to 40 gigawatt-hours... More

Apple stock target raised at BofA on iPhone 16 expectations

Bank of America raised its price target for Apple (NASDAQ: AAPL) to $256, up from $230 in a note to clients Thursday, driven by increased confidence in a multi-year iPhone upgrade cycle.

This upward revision is supported by the findings of a comprehensive global smartphone survey and an analysis of Apple's aging installed base, which BofA says suggests significant upside potential.

"We are raising our PO on Apple... More

Jefferies is bullish on streaming stocks

Jefferies initiated coverage on Spotify (NYSE: SPOT), Universal Music Group, and Warner Music Group Corp. (NASDAQ: WMG) with Buy ratings in a note Thursday, highlighting their strong growth prospects within the rapidly expanding music streaming industry.

The investment firm said that Spotify, in particular, has emerged as its top pick, driven by its... More