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☆ Analysts see more gains for Apple going forward, but some warn of mounting headwinds
▼ + stars: | 2023-08-04 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

AAPL YTD mountain Apple stock was trading lower after quarterly results. Apple doesn't provide official forward guidance and has not done so since 2020 over macroeconomic uncertainty. Morgan Stanley's Erik Woodring reiterated an overweight rating on Apple but lowered his price target to $215 from $220. Bank of America's Wamsi Mohan remained neutral on Apple, accompanied by a $210 price target that equates to roughly 10% upside. Rakers maintained an overweight rating on Apple stock with a $225 price target, or about 18% upside from Thursday.

Persons: Apple, Luca Maestri didn't, Apple doesn't, Morgan Stanley's Erik Woodring, Woodring, Morgan Stanley, America's Wamsi Mohan, Mohan, Citi's Atif Malik, Malik, Wells, Aaron Rakers, JPMorgan's Samik Chatterjee, Chatterjee, Goldman Sachs, Michael Ng, Apple's, Ng, — CNBC's Michael Bloom Organizations: Apple, America's

☆ Apple passes $3 trillion market cap. Here's how to play the stock
▼ + stars: | 2023-06-30 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on Apple . The pros discussed the tech giant after it topped $3 trillion in market cap Friday and its stock closed at an all-time high. Apple first reached $3 trillion in January 2022 but fell below that milestone before the closing bell that same day. Late Thursday, Citi's Atif Malik initiated Apple as a buy with a $240 price target, the highest of any Wall Street analyst. The stock is currently held in Jim Cramer 's Charitable Trust portfolio.

Persons: Citi's Atif Malik, Apple, Jim Cramer Organizations: Apple, Trust

☆ Why this chip stock could be the next Nvidia
▼ + stars: | 2023-05-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Those who missed Nvidia's recent surge may want to consider putting their money in one overlooked artificial intelligence beneficiary: Marvell Technology. The stock surged 181% this year on AI tailwinds. "Not sure we can make sense of the recent AI rally, but this is a name that belongs in the basket." Bank of America analyst Vivek Arya called the chip stock an "underappreciated" AI beneficiary in a recent note. "All in all, MRVL AI revenue is expected to grow at a 100% CAGR from FY23-FY25," Malik said.

☆ Marvell shares rocket 32% on earnings beat and 'tremendous' business potential for A.I.
▼ + stars: | 2023-05-26 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Shares of Marvell Technology continued a significant overnight rally Friday, surging about 32% off the back of quarterly earnings results that beat on the top and bottom lines. On an analyst conference call, Marvell CEO Matthew Murphy said the company had begun to reassess how it looked at the "tremendous" business potential of AI. "In FY2023, MRVL estimated its AI revenue to be ~ $200 million, representing a strong uptick from FY22. The company expects AI sales to reach ~$400M+ in FY24 before doubling in FY25," the note from Citi's Atif Malik said. Many semiconductor firms experienced a lift from Nvidia's Wednesday blowout earnings report.

Organizations: ~ $

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