Investors de-risking both long and short bets as Fed, tech earnings loom- Citi

BofA Securities Reiterates Buy Rating on Meta Platforms Inc. (META), 'Top AI play in consumer Internet'

BofA Securities analyst Justin Post reiterated a Buy rating and $563.00 price target on Meta Platforms Inc. (NASDAQ: META).

The analyst comments "We see Meta as the top AI play in consumer Internet given: 1) Leading infrastructure and LLM capabilities w/ Llama 3.1, 2)... More

Meta Platforms Inc. (META) PT Raised to $615 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the price target on Meta Platforms Inc. (NASDAQ: META) to $615.00 (from $525.00) while maintaining a Outperform rating.

The analyst comments "Increasing target to $615 (was $525) or 24x '25E EPS a 13%/4% discount to peers/ NASDAQ. Stronger 2Q revenue and 3Q... More

Meta Platforms Inc. (META) PT Raised to $585 at Deutsche Bank

Deutsche Bank analyst Leo Horowitz raised the price target on Meta Platforms Inc. (NASDAQ: META) to $585.00 (from $525.00) while maintaining a Buy rating.

The analyst comments "Of course, AI will be leveraged to accelerate progress across many of these objectives, and therefore CapEx... More

Meta Platforms Inc. (META) PT Raised to $610 at JPMorgan

JPMorgan analyst Doug Anmuth raised the price target on Meta Platforms Inc. (NASDAQ: META) to $610.00 (from $480.00) while maintaining a Overweight rating.

The analyst comments "META shares traded up +7% post-close & we reiterate our Overweight rating, w/the company executing well near-term & we believe investing appropriately in critical L-T initiatives, notably AI. Healthy ad market trends supported strong 2Q results & have carried into 3Q, with/METAs 3Q revenue guide of +13%-20% (+15%-22%... More

Meta Platforms Inc. (META) PT Raised to $600 at Evercore ISI

Evercore ISI analyst Mark Mahaney raised the price target on Meta Platforms Inc. (NASDAQ: META) to $600.00 (from $550.00) while maintaining a Outperform rating.

The analyst comments "We reiterate our Outperform rating on META, raising our estimates and our PT from $550 to $600... More

Global smartphone market: Android continues to lead recovery

The global smartphone market saw positive momentum in June 2024, with Android devices at the forefront of the recovery, according to UBS analysts.

The bank told investors in a note that total sell-through for smartphones in June reached 97.3 million units, marking a 6.2% year-over-year (YoY) increase and a 3.5% month-over-month (MoM) rise. This continues a trend of sequential YoY sell-through growth observed in April and May.

The U.S. market demonstrated significant improvement, says UBS, with sell-through... More

Apple's iPhone is 'ceding share in all markets except Europe': UBS

UBS analysts said in a note to clients this week that in the June quarter, Apple's (NASDAQ: AAPL) iPhone is losing market share in nearly all regions except Europe.

According to the latest UBS note, iPhone units were down approximately 1% during the quarter, despite the global smartphone market growing by 6% year-over-year.

"iPhone sell-through was up just 1% to 15.6 million in the month of June, leading to a small ~50 basis... More

Last week saw a third week of equity selling - BofA

Analysts at Bank of America noted a third week of equity selling in its latest equity client flow trends note on Tuesday, stating that institutional clients continue to sell.

"Last week, during which the S&P 500 was -0.8%, BofA Securities clients were net sellers of US equities (-$3.3B) for the third straight week," wrote the bank. "Sales continued to be driven by single stocks, while ETFs saw... More