The Hang Seng Index staged a strong comeback today, reaching its highest level since June 18, as investors rotated towards Chinese technology companies that have been left behind in the recent rally. It jumped to 24,057, up by 6.8% from its lowest point this year.Hang Seng Index soars as tech…
Tesla stock (NASDAQ: TSLA) remained under pressure as Wall Street debated whether a future tie-up with SpaceX could reshape the company’s valuation story. TSLA closed around $402.90, down over 4% on Tuesday and was red in pre-market trading on Wednesday.The downward push came despite recent delivery data improving sentiment around…
South Korean shares fell sharply for a third consecutive session on Wednesday, with heavy losses in semiconductor stocks and growing concerns over AI-related valuations dragging the benchmark index into bear market territory.The sharp decline followed an early rebound in the session. Samsung Electronics rose as much as 1.4% during morning…
Recent price increases for Apple’s Mac and iPad devices and any potential hikes in iPhone prices are unlikely to significantly dampen consumer demand, according to JPMorgan, which has raised its price target on the iPhone maker and reiterated its Buy rating.Analyst Samik Chatterjee said several positive catalysts could help Apple’s…
Oracle has the kind of AI backlog most software companies would envy, but Wall Street is no longer rewarding backlog alone. ORCL is under pressure as investors are also focusing on customer concentration, required capital spending and the timeline for converting Oracle’s backlog into cash flow.That is why Oracle’s record…
Shares of Palo Alto Networks Inc. (PANW) climbed more than 5% on Monday after analysts at BTIG and Wells Fargo raised their price targets on the cybersecurity company. The analysts raised prices citing improving business momentum and continued demand for AI-driven security solutions.The stock rose as much as 5.7% during…
Shares of Rivian Automotive Inc. (RIVN) climbed more than 5% on Monday after JPMorgan raised its price target following the electric vehicle maker’s stronger-than-expected second-quarter delivery results.The stock RIVN rose about 6% to $19.75 during trading, outperforming the broader market as investors reacted positively to the company’s improved delivery outlook…
Microsoft’s shares were falling on Monday even as the company announced its latest round of job cuts, as investors likely refused to look past the company’s high AI investments.A price target cut by Wolfe Research on Monday, citing higher memory prices, is likely to have also weighed on the stock,…
On Monday, Broadcom shares rallied after the chipmaker extended its long-term partnership with Apple through 2031, reinforcing its position in the iPhone maker’s supply chain.Strategy disclosed that it sold $216 million worth of Bitcoin under its newly introduced treasury framework while reporting a sharp quarterly loss on its digital assets.Oil…
Samsung stock plunged over 8% on Tuesday even after the company flagged what could be its most profitable quarter ever.The shares fell as much as 7.9%, despite Samsung guiding for second-quarter operating profit of 89.4 trillion won, a 19-fold jump from a year earlier.The reaction was not about weak numbers…