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☆ Texas Instruments CEO open to activist Elliott's free cash flow proposal
▼ + stars: | 2024-05-30 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

"We definitely look forward to engaging in a constructive dialogue with Elliott," Ilan said at AllianceBernstein's Strategic Decisions conference, marking his first public remarks since the activist revealed a $2.5 billion position in the company. Texas Instruments has spent heavily on chip fabrication plants, or fabs, as it seeks to maintain its dominant position in the analog semiconductor market. But that growth in capex has come at a significant cost to free cash flow per share, a self-declared key metric for TI, Elliott noted. By Elliott's analysis, FCF per share fell from $6.40 in 2022 to $1.47 per share in 2023. But it remains a giant business, accounting for $13 billion or 74% of TI's revenue in 2023.

Persons: Haviv Ilan, Elliott, Ilan Organizations: Texas, CNBC, TI, Texas Instruments, Micron Technologies Locations: Utah, capex

☆ These AI plays are still cheap even after this year's incredible Nvidia-driven bull run
▼ + stars: | 2024-05-24 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

That said, there are still some opportunities to buy AI stocks on the cheap. The stock's current forward price-to-earnings multiple at 20.1 is only slightly below its five-year average of 21.20. It is also cheap — the stock's current forward price-to-earnings multiple at 150.08 is significantly below its five-year average of 761.17. The stock is also trading at a discount to its five-year average, with a forward price-to-earnings ratio of 16. Other favored AI plays that meet the aforementioned criteria include Equinix , Adobe and Western Digital Corp .

Persons: Wall, Morgan Stanley, Snowflake, Tyler Radke, Joseph Moore, FactSet Organizations: Nvidia, Nasdaq, Dow Jones, CNBC Pro, Meta, Facebook, Citi Research, Micron Technology, Micron, Adobe, Western Digital Corp

☆ Analysts boost Nvidia price targets on strong demand outlook, say 'narrative is clearly nowhere near its end'
▼ + stars: | 2024-05-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Wall Street analysts are turning more bullish on Nvidia yet again following another strong guide from the chipmaking behemoth. "The narrative is clearly nowhere near its end, or likely nowhere near its peak," he wrote, adding that shares appear inexpensive. He expects Nvidia's Blackwell chips to be sold out through 2025. "While it's large enough market that competitors can succeed or even gain share, NVIDIA remains the standard bearer for multifaceted AI," he wrote. Nvidia's results lifted the broader chip sector, with the VanEck Semiconductor ETF (SMH) trading 3% higher in the premarket.

Persons: Tom O'Malley, Bernstein's Stacy Rasgon, Blackwell, Blayne Curtis, Citi's Atif Malik, JPMorgan's Harlan Sur, Goldman Sachs, Toshiya Hari, Sur, Morgan Stanley's Joseph Moore, Nvidia's Blackwell Organizations: Nvidia, Blackwell, Wall, Barclays, Jefferies, NVIDIA, VanEck Semiconductor, Micron Technology, AMD Locations: CY25

A chipmaker was among Monday's biggest analyst calls along with a hospital stock. Morgan Stanley upgraded Micron Technology and raised its price target on the stock — though it sees only limited gains ahead. U.S. Steel shares have dropped more than 26% year to date. The bank upgraded the computer memory stock to equal weight from underweight and increased its price target to $130 per share from $98. He also raised hi 12-month price target to $226 from $189, implying upside of 27% from Friday's close.

Persons: Morgan Stanley, Dell, Samik Chatterjee, Bernstein, Toni Sacconaghi, DELL, — Brian Evans, Jefferies, Christopher LaFemina, LaFemina, Stifel, Ruben Roy, Baird, Tristan Gerra, Tom O'Malley, Brian Evans, Micron Technology Morgan Stanley, Morgan Stanley's, Joseph Moore, Moore, AJ Rice, Rice, Fred Imbert Organizations: CNBC, Micron Technology, UBS, Universal Health Services, JPMorgan, Dell, Jefferies, U.S, Steel, U.S . Steel, Nippon Steel's, Wall, TAM, Nvidia, Barclays Locations: U.S, Friday's

☆ Cramer says activist interest in Johnson Controls is 'a gimme,' but worries about a steel stock
▼ + stars: | 2024-05-20 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Johnson Controls : Activist investor Elliott has built a more than $1 billion stake in the HVAC control firm, Bloomberg News reported. "The stock is up 22% [year to date], but it has lagged Trane . "It was just a mistake [to have an underweight rating on the stock]," Cramer said, adding later: "From 1995 on, you have to understand the moment inventories are lean, you've got to buy. Steel stocks: Analysts at Jefferies initiated coverage of steel stocks, beginning with a buy rating on Cleveland-Cliffs and U.S. Steel and hold ratings on Nucor and Steel Dynamics . JPMorgan Chase : The banking giant slightly raised its full-year net interest income outlook to $91 billion from $90 billion.

Persons: Jim Cramer's, Elliott, Jim Cramer, Morgan Stanley, Cramer, you've, I've, Frank Del Rio, Harry Sommer, He'll Organizations: CNBC, Club, Johnson, Bloomberg News, Micron Technology, Jefferies, Cliffs, . Steel, Steel Dynamics, JPMorgan Chase, Cruise Locations: Cleveland

☆ Stocks making the biggest moves premarket: Apple, Nvidia, Li Auto and more
▼ + stars: | 2024-05-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Apple — Apple shares slipped less than 1% after Reuters reported the technology giant is implementing aggressive discounts on its iPhones in China. Micron Technology — Shares moved 2.3% higher after Morgan Stanley upgraded the semiconductor company to equal weight from underweight. Johnson Controls — Shares rose 5% after Bloomberg News reported Elliott Management has built a more than $1 billion stake in the security and safety company. Teradyne – The semiconductor testing equipment stock rose nearly 3%. Goldman Sachs upgraded Teradyne to a buy rating, citing its recent strong quarter and expectations for a "cyclical recovery" within its system-on-chip design test business.

Persons: Morgan Stanley, Li, Johnson, Elliott, Goldman Sachs, —, Alex Harring, Michelle Fox Organizations: Apple, Reuters, Micron Technology —, Micron, Nvidia, Barclays, Stifel, Li Auto, GameStop, AMC Entertainment, Bloomberg News, Elliott Management Locations: China

☆ Stocks making the biggest moves midday: Hims & Hers Health, Norwegian Cruise Line, Target and more
▼ + stars: | 2024-05-20 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Wix.com — The web development company jumped more than 25% after it posted better-than-expected first-quarter results. Norwegian Cruise Line — The cruise line operator jumped more than 8% after Norwegian Cruise Line lifted its full-year earnings guidance. It also reported better-than-expected first-quarter results. Hasbro — Shares gained 3% after Morgan Stanley called Hasbro a top pick, saying its recent underperformance gives investors a strong entry point. Uranium stocks have recently gained after President Joe Biden signed a bill banning imports of Russian uranium for nuclear fuel.

Persons: Wix.com, Li Auto, Goldman Sachs, Morgan Stanley, Johnson, Elliott, Joe Biden, NuScale, — CNBC's Michelle Fox, Lisa Kailai Han, Alex Harring, Samantha Subin Organizations: Norwegian Cruise, Target, GameStop, Micron Technology, Hasbro —, Hasbro, Bloomberg News, Elliott Management, Nvidia, Microsoft, Dell Technologies Locations: Norwegian, U.S, NextDecade's Rio

☆ Here are other AI stocks vulnerable to profit taking as Druckenmiller sells some Nvidia
▼ + stars: | 2024-05-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

But the chipmaking darling is far from the only artificial intelligence stock that's run too far too fast. Elsewhere, Altimeter's Brad Gerstner eased his stake in the chipmaker and other winning technology stocks, he told CNBC's " Halftime Report ." Nvidia isn't the only AI play vulnerable to profit taking here. Of the group, Micron Technology shares trade at the most significant premium. Over the last year, shares have surged 493% and trade at a 185% premium to their five-year average PE.

Persons: Stanley Druckenmiller, CNBC's, Altimeter's Brad Gerstner, Druckenmiller, We've, Broadcom's Organizations: Nvidia, CNBC Pro, Devices, Micron Technology, Arm Holdings, Broadcom, Arista Networks, Applied Materials, KLA Corporation Locations: British

6:41 a.m.: Morgan Stanley raises Carvana price target Morgan Stanley likes what it sees from Carvana after its "operational turnaround." The bank reiterated an underweight rating on the used car retailer but raised its price target to $75 per share from $45. "Throughout 2023, CVNA transitioned from a distressed equity into an operational turnaround with a restructured interest burden," Morgan Stanley analyst Adam Jonas said. The firm downgraded the HVAC stock to neutral from buy and lowered its price target to $68 per share from $74. MU YTD mountain MU year to date — Brian Evans 5:45 a.m.: Morgan Stanley upgrades U.S. Steel There's a big buying opportunity in U.S. Steel after a recent pullback this year, according to Morgan Stanley.

Persons: Morgan Stanley, Baird, Morgan Stanley's, CVNA, Adam Jonas, — Brian Evans, Wells, Mike Mayo, Mayo, Brian Evans, Johnson, Damian Karas, " Karas, Tristan Gerra, Gerra, Carlos De Alba, Alba, De Alba, Fred Imbert Organizations: CNBC, U.S, Steel, Micron Technology, Wells Fargo, Citi, UBS, Johnson, JCI, Micron, MU, Nippon Steel, U.S . Steel, . Steel Locations: Carvana, Wells Fargo, Friday's, U.S

☆ Stocks making the biggest moves midday: Berkshire Hathaway, Micron, Tyson Foods, Spirit Airlines and more
▼ + stars: | 2024-05-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Spirit also forecast second-quarter revenue between $1.2 billion and $1.34 billion, below a FactSet estimate of $1.46 billion. Paramount — Shares popped 3.3% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo . U.S. Steel shares have room to rise due to internal improvements, even if the Nippon Steel buyout deal collapses, Morgan Stanley said in a note. Morgan Stanley said the market is likely overlooking the Canadian-based company's progress on improving core profit margins. Morgan Stanley downgraded the intimate apparel maker to underweight due to expectations for negative earnings per share revisions.

Persons: Baird, Warren Buffett, Morgan Stanley, Tyson, StreetAccount, Bausch, Coinbase, Li Auto, Alex Harring, Jesse Pound, Samantha Subin, Hakyung Kim, Sarah Min, Matthew Staver Organizations: Berkshire Hathaway, Berkshire, Micron Technology, Spirit Airlines, Paramount, Paramount Pictures, CBS Entertainment Group, Sony Pictures Entertainment, United States Steel, . Steel, Nippon Steel, Medical Properties, Health Care, EHang Holdings, Barclays, Micron Technology Inc, Bloomberg, Getty Locations: The Boise , Idaho, Berkshire, Pittsburgh, China, Weibo, Boise , Idaho

☆ Jim Cramer shares his thoughts on Tyson Foods, Micron, U.S. Steel, Johnson Controls and Robinhood
▼ + stars: | 2024-05-06 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Tyson Foods : Shares fell nearly 7% after the meat supplier issued a weak third-quarter outlook. I think the last story has not been written yet on Tyson," Jim Cramer said. Johnson Controls : Shares were basically flat Monday after UBS downgraded the stock to a hold-equivalent rating. Robinhood : The Securities and Exchange Commission informed Robinhood over the weekend that it could pursue enforcement actions tied to the brokerage's cryptocurrency operations. Robinhood shares were initially up more than 1% Monday, though they've given back some of the gains.

Persons: Jim Cramer's, Tyson, Jim Cramer, Baird, Cramer, Morgan Stanley, David Gitlin, Robinhood, they've Organizations: CNBC, Club, Tyson, Micron Technologies, Nvidia, Micron, . Steel, Japan's Nippon Steel, U.S . Steel, Johnson, UBS, Johnson Controls, Securities, Exchange Commission

☆ Why chipmakers are the stars of the week, plus Cramer's read-through on 3 reports
▼ + stars: | 2024-04-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Best in months: The S & P 500 and Nasdaq are both higher on Friday, on pace for their best weeks since November. The gains break a three-week losing streak for the broad-based S & P and four straight losing weeks for the tech-heavy Nasdaq. About 46% of the S & P 500 has reported earnings so far, with nearly three quarters beating consensus expectations, according to FactSet. Earnings ahead : The busiest week of the first-quarter earnings season is coming up. But the company will still be buying back stock ahead of better times."

Persons: Jim Cramer, there's, Grace Hopper Superchip, Sanjay Mehrotra, Lam, Sanjay, we'll, Dow, Dupont, Jim Cramer's, Jim, Milton J, Kevin Lamarque Organizations: CNBC, Nasdaq, Microsoft, Intel, Nvidia, Micron, Lam Research, Apple, Coterra Energy, Starbucks, DuPont, Jim Cramer's Charitable, Micron Technology, Rubenstein Museum of Science, Technology Locations: Chevron, Devon, Syracuse , New York, U.S

☆ Biden, Seeking to Build on Fruitful Week, Will Announce Billions in Chip Grants
▼ + stars: | 2024-04-25 | by ( Madeleine Ngo | Zolan Kanno-Youngs | ) www.nytimes.com time to read: +1 min

Micron will use the grants to help construct two leading-edge chip manufacturing plants in New York and another facility in Idaho, Biden administration officials said before the president’s trip to Syracuse, N.Y., for the announcement. The federal government will also provide up to $7.5 billion in loans to Micron. The legislation gave the Commerce Department $39 billion to distribute as grants to incentivize chipmakers to construct and expand manufacturing plants across the United States. On Wednesday, he secured the endorsement of the North America’s Building Trades Unions, largely because of his bipartisan infrastructure package. He also is fresh off signing a $95.3 billion package of aid for Ukraine, Israel and Taiwan after months of congressional gridlock, reaffirming a central focus of his foreign policy agenda.

Persons: Biden, incentivize, Chuck Schumer Organizations: Micron Technology, Micron, Commerce Department, Unions Locations: New York, Idaho, Syracuse, N.Y, United States, Ukraine, Israel, Taiwan

☆ Tesla's earnings report was worse than expected, but Elon Musk has a plan
▼ + stars: | 2024-04-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Tesla's earnings report and what comes next for the EV maker. The big storyTesla's turnaround planJADE GAO/AFP via Getty Images; Chelsea Jia Feng; BIBad news: Tesla's earnings report was worse than expected. AdvertisementPerhaps that's why Musk spent so much of the earnings call discussing autonomy and the progress made with Tesla's Full Self-Driving software . Musk told analysts on the earnings call that Tesla is the majority of his work . If investors vote against the package at Tesla's annual meeting in June, who knows where Musk — and his AI ambitions — will end up .

Persons: —, Chelsea Jia Feng, Elon Musk, Tesla, Musk, hasn't, Insider's Linette Lopez, Matt Anderson, Tyler Le, JPMorgan's Marko Kolanovic, Kolanovic, Cathie, Stocks, Goldman Sachs, Gerard Julien, Elon Musk's, Carl Godfrey, Joe Biden, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Getty Images, Tesla, Getty, EV, Musk's, Intel, Micron Technology, Microsoft, BI America, Amazon, Boeing, Meta, IBM, US Locations: Delaware, Outflows, United States, China, Idaho, New York, London

The U.S. has passed a series of export controls starting in October 2022 aimed at restricting China's access to advanced chip technology, particularly those used in AI applications. According to data from tech consultancy Omdia, China consumes nearly 50% of the world's semiconductors as it is the biggest market for assembling consumer devices. But, soon after, it was reported that Nvidia was working on a new chip made for China. The company did not respond to a request for comment on their plans for the China market. An analysis of Huawei's Mate 60 Pro smartphone by TechInsights revealed an advanced chip made by China's top chip maker, SMIC.

Persons: Wong Yu Liang, Chris Miller, William B, Bailey, Donald Trump, TechInsights Organizations: AMD MU, P Global, Intel, Broadcom, Qualcomm, Marvell Technology, U.S, The, CNBC, Nasdaq, Intelligence, Micron Technology, AMD, Nvidia, Huawei, Semiconductor Industry Association, America's Micron, country's Cyberspace Administration, Micron Locations: China, The U.S, U.S, Washington, Xi'an, Netherlands, Beijing

☆ Kishida US visit: Japan seeks investment in AI, semiconductors from American companies
▼ + stars: | 2024-04-10 | by ( Junko Ogura | Juliana Liu | ) edition.cnn.com time to read: +4 min

Speaking in Washington at a lunch with American CEOs, Prime Minister Fumio Kishida said Japan welcomes American collaboration in “critical and emerging technology” and assured them that any investment would flow both ways. Last year, Japanese foreign direct investment to the US exceeded $750 billion, Kishida said, making Japan the biggest foreign investor in America and creating more than 1 million jobs. It is reportedly the company’s largest ever investment in Asia’s second largest economy. Earlier this month, Japan’s industry ministry approved subsidies worth up to 590 billion yen ($3.9 billion) for Rapidus. It comes as Washington adds increasing restrictions on the types of semiconductors that American companies are able to sell to China.

Persons: Hong Kong CNN —, Fumio Kishida, ”, Kishida, Joe Biden, Brad Smith, Gary Cohn, Sanjay Mehrotra, Ted Colbert, Albert Bourla, Mayumi Maruyama Organizations: Hong Kong CNN, Microsoft, Microsoft Research Asia, IBM, Micron Technology, Boeing, Defense, Space & Security, Pfizer, CNN, US Chamber of Commerce, “, Intel, Samsung, US Locations: Tokyo, Hong Kong, Japan, Washington, American, United States, America, Asia’s, Russia, South, Taiwan, Hokkaido, chipmaking, China, Europe, Asia, Germany

☆ Citi says this chip stock is still its top AI pick, will overcome Taiwan earthquake disruption
▼ + stars: | 2024-04-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Citigroup is keeping its bullish stance on Micron Technology even as the memory chipmaker faces disruptions caused by this week's earthquake in Taiwan. Semiconductor makers across the industry have been assessing the fallout from the 7.4 magnitude earthquake that rattled Taiwan, the strongest in a quarter of a century. The island is home to a flourishing chip market, including global chip supplier Taiwan Semiconductor Manufacturing , that many U.S. companies rely on. MU YTD mountain Shares this year "Investors remain concerned about the DRAM upturn due to overcapacity in 2025," he wrote. Danely's price target on Micron implies 21% upside from Thursday's close.

Persons: Christopher Danely, Danely Organizations: Citigroup, Micron Technology, Micron, Citi, Semiconductor, Taiwan Semiconductor Manufacturing, Danely, Nvidia, MU, Investors Locations: Taiwan . Boise , Idaho, Taiwan

☆ Stocks making the biggest moves midday: Micron Technology, Cameco, MicroStrategy, Universal Health Services and more
▼ + stars: | 2024-04-01 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Cameco — Shares rose more than 5% after Goldman Sachs initiated coverage of the uranium producer with a buy rating, saying there is more than 25% upside. Microsoft — Microsoft shares rose 0.7% following a report from The Information, citing unnamed sources, saying Microsoft and OpenAI are planning a $100 billion data center project. Super Micro Computer shares rose 2.5%. Universal Health Services — Shares fell after Universal Health Services said in a regulatory filing its subsidiary Pavilion Behavioral Health was ordered to pay $60 million in compensatory damages and $475 million in punitive damages. MicroStrategy — Shares slipped more than 3% after Michael Saylor, executive chairman of MicroStrategy, sold nearly 4,000 shares of MicroStrategy stock last week, according to a regulatory filing .

Persons: Cameco, Goldman Sachs, Semtech, Robinson, Brandon Oglenski, Bill Holdings, Wells, Bill, Tesla, Tommy Bahama, Michael Saylor, InterDigital's, — CNBC's Brian Evans, Lisa Kailai Han, Alex Harring, Tanaya Macheel, Jesse Pound Organizations: Micron Technology —, Bank of America, Microsoft, Western Digital, Micro Computer, Hunt Transport, C.H, Barclays, . Oxford Industries, Citi, Universal Health Services, Behavioral Health Locations: North America

☆ Stocks making the biggest moves premarket: Micron Technology, 3M, AT&T, Delta Airlines and more
▼ + stars: | 2024-04-01 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Micron Technology — Shares ticked up roughly 1.1% after Bank of America increased its price target on the chipmaker, with the analyst forecasting high-bandwidth memory technology demand will grow to more than $20 billion by 2027. 3M — Shares of the manufacturer rose nearly 3% Monday. Barrick Gold, Royal Gold — The gold miner and gold royalty company, respectively, rose 2% and 1.7%. Delta Airlines — Shares climbed about 2% after Morgan Stanley named the Atlanta-based airline stock a top pick for 2024. UPS — Shares ticked up nearly 2% following news that the shipping company would become the primary air cargo provider for the United States Postal Service.

Persons: Robinson, Brandon Oglenski, Barrick, Wells, Morgan Stanley, Michael Saylor, —, Lisa Kailai Han, Jesse Pound, Alex Harring Organizations: Micron Technology, Bank of America, Hunt Transport, C.H, Barclays, Federal, Devon Energy, Delta Airlines, UPS, United States Postal Service Locations: Wells, Atlanta

☆ Top Wall Street analysts pick these 3 stocks for attractive returns
▼ + stars: | 2024-03-31 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Wall Street analysts are ignoring the short-term noise and remain focused on companies that have strong fundamentals and can generate attractive returns in the long run. Bearing that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Micron TechnologyThis week's first stock pick is memory chipmaker Micron Technology (MU), which impressed investors with its strong quarterly performance. Bolton noted that Micron's HBM3E memory solution generated revenue in the fiscal second quarter and has already sold out for calendar year 2024. He highlighted management's commentary about generating several hundred million dollars of revenue from HBM3E in fiscal 2024 and driving fiscal 2025 revenue to record highs.

Persons: Needham, Quinn Bolton, Bolton, TipRanks, LULU, Robert Drbul, Drbul, Christopher Rolland, Rolland Organizations: Wall Street, Micron, Micron Technology, MU, Bolton, Broadcom, Susquehanna, Symantec, VMware Locations: Santa Monica, United States, U.S

☆ This semiconductor ETF is headed for its best quarterly gain in a year. Here are the winners
▼ + stars: | 2024-03-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Semiconductor stocks are off to another hot start to the year. The VanEck Semiconductor ETF (SMH) is up 28.5% in the first three months of 2024. That puts the SMH on pace for its biggest quarterly gain since the first quarter of 2023, when it jumped 30%. The stock is up more than 30% to start 2024. Shares have skyrocketed more than 39% to start 2024, helped by strong sales in high bandwidth memory necessary in AI infrastructure.

Persons: Ken Mahoney, Nvidia, Hendi, Management's Paul Meeks, Andrew Garthwaite cautioning Organizations: VanEck Semiconductor, Asset, Taiwan Semiconductor Manufacturing, Nvidia, Qualcomm, Apple, Devices, JPMorgan, PHLX Semiconductor, Intel, Micron Technology, Micron, UBS, Universal Locations: Taiwan

☆ Here are the biggest first-quarter stock winners, and what analysts think they’ll do from here
▼ + stars: | 2024-03-28 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Nvidia stock has soared more than 80% in 2024, as the company continues to benefit from investor excitement over AI. NVDA YTD mountain Nvidia stock. Analysts remain exceedingly bullish on the key AI play, with 88% of those surveyed by FactSet maintaining a buy rating. Moving forward, analysts forecast Micron stock to climb a further 7.3%. MU YTD mountain Micron Technology stock.

Persons: Blackwell, Bob Iger Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Micron Technology, CNBC Pro, Micron, MU, Super, Computer, Disney, Epic Games

☆ Piper Sandler believes S&P 500 vulnerable to a correction, dumps Nvidia from its model portfolio
▼ + stars: | 2024-03-27 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Piper Sandler is concerned the S & P 500 is due for a correction, and it has dumped Nvidia from its model portfolio. The S & P 500 is on pace to close out its best quarter since 2019. "We believe the SPX is vulnerable to a 5%-10% pullback/correction in the coming weeks," Johnson added. .SPX 1D mountain S & P 500 Significantly, Johnson removed Nvidia from his model portfolio, the AI beneficiary that has soared more than 80% this year and has been one of the primary drivers of gains in the S & P 500. As a whole, the Wall Street firm reduced the equity exposure in its model portfolio to 90% from 98%.

Persons: Piper Sandler, Craig Johnson, Johnson, It's Organizations: Nvidia, Dow Jones, Micron Technology, Taiwan Semiconductor Manufacturing, Wall

☆ Stocks making the biggest moves premarket: Krispy Kreme, UPS, Micron Technology and more
▼ + stars: | 2024-03-26 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Krispy Kreme began testing sales at some McDonald's locations in 2022, and their partnership expansion would double the donut maker's current distribution. McDonald's shares fell more than 1%. Seagate Technology — The data storage stock added 4.1% on the back of a Morgan Stanley upgrade to overweight from equal weight. Super Micro Computer — Shares rose 3.1%, continuing its gains from Monday when JPMorgan initiated coverage of the stock with an overweight rating. Taiwan Semiconductor — Shares got a 1% boost after JPMorgan reiterated its overweight rating on the semiconductor stock.

Persons: Krispy Kreme, Morgan Stanley, McCormick —, Jesse Pound, Alex Harring, Michelle Fox, Pia Singh Organizations: Seagate Technology, FactSet, Revenue, United Parcel Service, UPS, JPMorgan, Micro Computer, Micron Technology, Mizuho Securities, Taiwan Semiconductor

Bernstein lowered its price target on Tesla, calling for 30% downside. Meanwhile, Mizuho raised its price target on Micron, citing a growing AI opportunity. The firm reiterated a buy rating on the computer storage and memory stock on Monday and raised its price target to $130 per share from $124. — Brian Evans 5:53 a.m.: Bernstein cuts Tesla price target Longtime Tesla bear Toni Sacconaghi lowered his price target on the EV maker to $120 from $150, citing growing demand constraints. TSLA YTD mountain TSLA ytd — Fred Imbert

Persons: Bernstein, Mizuho, Jason Getz, — Brian Evans, Toni Sacconaghi, Tesla, Sacconaghi, Fred Imbert Organizations: CNBC, Micron, Mizuho, Mizuho Securities Locations: China, Europe

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