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Intel plunges 25%, worst day since 1974
  + stars: | 2024-08-02 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIntel plunges 25%, worst day since 1974Vivek Arya, Bank of America Securities senior semiconductor analyst, joins 'Power Lunch' to discuss what's behind Intel's shares falling 25%, expectations for the stock, and more.
Persons: Vivek Arya Organizations: Intel, Bank of America Securities
BofA analyst on downgrading Mastercard and Visa
  + stars: | 2024-08-01 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA analyst on downgrading Mastercard and VisaJason Kupferberg, Bank of America Securities senior payments analyst, joins CNBC's 'The Exchange' to discuss outlooks on fintech stocks, potential impacts from Fed rate moves, and more.
Persons: Jason Kupferberg Organizations: Mastercard, Bank of America Securities
Apple CEO Tim Cook attends the annual developer conference event at the company's headquarters in Cupertino, California, U.S., June 10, 2024. Apple's third quarter, which ends in June, is traditionally the company's slowest quarter of the year by sales. This year, the "main event" won't be Apple's earnings, wrote Barclays analyst Tim Long, it's what the company says about the September quarter, which is nearly one-third over. Apple revealed Apple Intelligence in June, and the first preview version of some features was released earlier this week. JPMorgan analyst Samik Chatterjee expects Apple to reassure investors that the coming iPhone replacement cycle will include better-than-expected revenue, thanks to AI.
Persons: Tim Cook, Tim Long, Apple doesn't, Long, Raymond James, Srini Pajjuri, Samik Chatterjee, Chatterjee, Apple, Wamsi Mohan, Atif Malik Organizations: Apple, Barclays, Apple Intelligence, Nvidia, JPMorgan, Services, Bank of America Securities, Huawei, IDC, Citi Locations: Cupertino , California, U.S, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSmall cap rally could see near term pause if not supported by fundamentals, says BofA's Jill HallJill Carey Hall, Bank of America Securities head of U.S. small and mid-cap strategy, joins CNBC's 'The Exchange' to discuss the bullish case for small caps, expectations for the rally run, and more.
Persons: Jill Hall Jill Carey Organizations: Jill Hall Jill Carey Hall , Bank of America Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis year's summer rally has gotten healthier, says Bank of America’s Stephen SuttmeierStephen Suttmeier, Bank of America Securities chief equity technical strategist, joins 'Squawk Box' to discuss the latest market trends, whether the summer rally can continue, state of the small-cap sector, and more.
Persons: America’s Stephen Suttmeier Stephen Suttmeier Organizations: America’s, Bank of America Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeflationary forces present in almost every sector in U.S., says UBS Global Wealth's Paul DonovanPaul Donovan, chief economist at UBS Global Wealth Management, and Jared Woodard, head of research committee at Bank of America Securities, join CNBC's 'The Exchange' to discuss deflation, macro outlooks, and more.
Persons: UBS Global Wealth's Paul Donovan Paul Donovan, Jared Woodard, CNBC's Organizations: UBS Global, UBS Global Wealth Management, Bank of America Securities Locations: U.S
BofA’s Wamsi Mohan on why he's raising Apple's price target
  + stars: | 2024-07-12 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA’s Wamsi Mohan on why he's raising Apple's price targetWamsi Mohan, Bank of America Securities senior IT hardware analyst, joins 'Squawk Box' to discuss Apple's recent stock rally, what's driving Apple shares higher, and more.
Persons: Mohan Organizations: Bank of America Securities, Apple
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFalling lumber costs may bring homebuilding cost relief, says BofA's Rafe JafrosichRafe Jafrosich, homebuilders and building products analyst at Bank of America Securities, joins CNBC's 'The Exchange' to discuss building costs, the housing trade, and more.
Persons: BofA's Rafe Jafrosich Rafe Jafrosich Organizations: Bank of America Securities
Mainland China investors these days are often focused on how well U.S. stocks are doing — and bemoaning tepid performance at home. But a look at first-half performance shows that many China stocks still rose by double-digits, including a few artificial intelligence plays. Zhongji Innolight Ranking third in CSI 300 performance in the first half was Zhongji Innolight, which climbed 70%. Nomura rates Zhongji Innolight a buy and its analysts met with the optical communication company in late June. The broad mainland China stock market, measured in Class A shares, has underperformed over the past two years, said Wanda Wang, a research manager at Morningstar.
Persons: BofA, Nomura, Wanda Wang, That's, Invesco's, — CNBC's Michael Bloom Organizations: Nvidia, CSI, Apple, Foxconn, Bank of America Securities, Industrial, FII, Avary Holding, Avary, Chartered Bank, HSBC, JPMorgan, Nomura, Nasdaq, U.S, Morningstar, Capital, Shenzhen Stock Exchange Locations: China, Shanghai, Shenzhen, Avary Holding Shenzhen, Hong Kong
Investors deliberating whether the stock rally can continue in the second half of 2024 should keep an eye on the 200-day moving average, according to Stephen Suttmeier, technical research strategist at Bank of America Securities. The indicator, which is used by chart analysts to determine long-term trends, has been positive during the first six months of the year — as the S & P 500 surged 15% to record levels. The broad market index did not have a single daily close below its 200-day moving average in the first half. However, if the S & P 500 falls below its 200-day moving average in the second half of 2024, that will mean weaker returns, the technician said. "[This] scenario shows average and median returns of 0.60% (SPX 5490) and 2.43% (SPX 5590), respectively," the technician said.
Persons: Stephen Suttmeier, Suttmeier, Stocks, Donald Trump Organizations: Bank of America Securities, U.S, Federal Reserve
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed needs more time to determine appropriate rate path, says BofA's Michael GapenPeter Boockvar, Bleakley Financial Group CIO; Diane Swonk, KPMG chief economist; Michael Gapen, Bank of America Securities head of U.S. Economics; and CNBC’s Steve Liesman join 'The Exchange' to discuss the latest economic data.
Persons: BofA's Michael Gapen Peter Boockvar, Diane Swonk, Michael Gapen, Steve Liesman Organizations: Bleakley Financial, KPMG, Bank of America Securities, Economics
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIncrease in expenses and risks impacts Fed's bank 'stress test' results, says BofA's PoonawalaEbrahim Poonawala, Bank of America Securities senior North American banks analyst, joins CNBC's 'Squawk Box' to discuss the Federal Reserve's stress test on banks, the health of regionals, and more.
Persons: BofA's Poonawala Ebrahim Poonawala Organizations: Bank of America Securities Locations: American
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPullback in 'salty snack' stocks due to consumer economizing, says BofA's Bryan SpillaneBryan Spillane, Bank of America Securities senior food and beverage analyst, joins CNBC's 'The Exchange' to discuss the pullback in snack company stocks, how Utz continues to outperform, and more.
Persons: BofA's Bryan Spillane Bryan Spillane, Utz Organizations: Bank of America Securities
With stocks set to close out a strong first half of 2024, investors have just one more key inflation hurdle to clear in the week ahead: May's personal expenditure report. Next week's personal consumption expenditure data, the Federal Reserve's preferred inflation gauge, could show whether that overall picture is intact. May's consumer price index, for example, showed no increase from the prior month. Last month's producer price index , a measure of wholesale prices, unexpectedly dropped from the previous reading. Pending Home Sales Index (May) 11 a.m. Kansas City Fed Manufacturing Index (June) Earnings: Nike, Walgreens Boots Alliance , McCormick & Co. Friday June 28 8:30 a.m.
Persons: Stocks, Terry Sandven, Goldman Sachs, David Kostin, Scott Chronert, Brian Leonard, Leonard, Bank's Sandven, Sandven, Mills Organizations: Nvidia, Microsoft, U.S, Bank Asset Management, Federal, PCE, Bank of America Securities, Wall, Keeley, Advisors, FedEx, Dow, Nasdaq, Dallas Fed, Chicago, Richmond Fed, Carnival, New, Micron Technology, . Kansas City Fed Manufacturing, Nike, Walgreens Boots Alliance, McCormick, Chicago PMI Locations: . Kansas, Chicago, Michigan
By far, the most dominant trade on Wall Street is going long the "Magnificent Seven." Investors are the most bullish they've been on the mega-cap tech stocks going back to October 2020, the firm found. In fact, about 69% of respondents were bullish on the group, making the Magnificent Seven the most crowded trade for 15 straight months. One highly contrarian trade Bank of America identified could be going long bonds. Going long oil is another contrarian trade that could work as an hedge against geopolitical risk, the Wall Street firm said.
Persons: they've, What's, BofA Organizations: Bank of America Securities, Bank of America
Investors are the most bullish they've been since November 2021, according to the global fund manager survey (FMS) released Tuesday from Bank of America Securities. Halfway through 2024, the S & P 500 and the Nasdaq Composite are each at records , on Monday closing once again at all-time highs. .SPX YTD mountain S & P 500 in 2024. In November 2021 — the last time Wall Street was this bullish — the S & P 500 capped off a strong year, advancing more than 26%. 1 risk on investors' minds (according to 32% of investors, down from 41% in May), followed by geopolitics (22%, up from 18%), and the U.S. presidential election (16%, up from 9%).
Persons: they've, Michael Hartnett Organizations: Investors, Bank of America Securities, Nasdaq, Bank of America, Federal Reserve, U.S, CNBC
The iPhone 15 Pro is 0.32 inches (8.25 mm) deep, compared with 0.29 inches (7.4 mm) for the iPhone 12 Pro, per Apple's website. Apple announced at the Worldwide Developers Conference it would integrate its new AI software, Apple Intelligence, into the iPhone, iPad, and Mac. The AI features will roll out later this year with Apple's iOS 18 update, but will only be available to iPhone 15 Pro and 15 Pro Max users. Android chief Sameer Samat previously told Business Insider that it plans to seize the moment to "reinvent" what phones can do. AdvertisementApple didn't immediately respond to a request for comment from Business Insider, made outside normal working hours.
Persons: , Apple, Mark Gurman, Gurman, Mac, It's, Sameer Samat Organizations: Service, Business, Apple, Worldwide, Apple Intelligence, Pro Max, Google, Samsung, Android, Bank Of America Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia: Here's why BofA Securities maintains a bullish stance on the stockVivek Arya, Bank of America Securities senior semiconductors analyst, joins 'Squawk on the Street' to discuss if investors should buy Nvidia's stock at today's levels, how much Nvidia will support the software industry, and more.
Persons: Vivek Arya Organizations: Nvidia, BofA Securities, Bank of America Securities
In a report last week about China's consumer market potential, Bank of America Securities analysts chose hotel operator H World as one of its top picks. "We believe H World is best positioned to capture long-term growth in the China hotel industry given best-in-class execution," the analysts said. BofA rates H World a buy, and expects its U.S.-listed shares can reach $47. That's 30% above where H World shares closed Thursday. In China, H World also owns master franchisee rights for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel.
Persons: Wang Xing, Meituan, Styles, Grand, Goldman Sachs, Morgan Stanley, Wang, Neil Shen, Shen, BTG's, BTG, Trip.com, — CNBC's Michael Bloom Organizations: HSBC, Hong, Bank of America Securities, Mercure, Grand Mercure, Novotel, Travelers, BTG Hotels, Shanghai, Jefferies Locations: Hong Kong, China, U.S, Asia, Macau, Taiwan, , Mainland China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailValue meal push could still benefit french fry supplier Lamb WestonPeter Galbo, equity research director at Bank of America Securities, joins CNBC's 'The Exchange' to discuss consumer behavior in quick-service dining, how restaurants are trying to create value, and more.
Persons: Lamb Weston Peter Galbo Organizations: Bank of America Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed needs more 'confidence' that inflation will be moving sustainably lower: BofA's Mark CabanaMark Cabana, Bank of America Securities head of U.S. rates strategy, joins 'Squawk Box' to discuss the move in global bond yields, what it means for markets, the Fed's rate path outlook, and more.
Persons: Mark Cabana Mark Cabana Organizations: Bank of America Securities
If AI tools on phones can really set them apart from current devices, consumers have a new reason to buy a fresh handset. Advertisement"We see the introduction of AI smartphones (IntelliPhones) as a once in a decade upgrade event," Mohan wrote. At Google's I/O conference earlier this month, the internet giant showed off several new AI capabilities for Pixel, Samsung, and other Android phones. AdvertisementMohan at BofA describes a wide range of new capabilities that could set IntelliPhones apart from smartphones and fire up the mother of all upgrade cycles. "We view the upcoming AI enabled phones (IntelliPhones) to drive a multi-year upgrade cycle similar to the step function improvement driven by the introduction of smartphones," he wrote, calling this a "once in a decade type of event."
Persons: , Apple, Wamsi Mohan, Mohan, Sameer Samat, Siri Organizations: Service, Bank of America Securities, Business, iPhones, Wall Street, Pixel, Samsung, Google, Apple Locations: Google's, BofA
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's demand is broadening and still exceeds supply, says BofA Securities' Vivek AryaVivek Arya, Bank of America Securities senior semiconductor analyst, joins 'Squawk Box' to discuss Nvidia's quarterly earnings results, how long Nvidia can sustain its competitive advantage, and more.
Persons: Vivek Arya Vivek Arya Organizations: BofA, Bank of America Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors shouldn't rule out possible rate hike, says Michael LandsbergMichael Landsberg, Landsberg Bennett Private Wealth CIO; Aditya Bhave, Bank of America Securities senior U.S. economist; and CNBC Steve’s Liesman join 'The Exchange' to discuss the potential for Fed policy moves, macro data, and more.
Persons: Michael Landsberg Michael Landsberg, Landsberg Bennett, Aditya Bhave, CNBC Steve’s Liesman Organizations: Bank of America Securities, CNBC Steve’s Locations: Landsberg
BofA Securities' Vivek Arya reacts to Arms Q4 earnings
  + stars: | 2024-05-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA Securities' Vivek Arya reacts to Arms Q4 earningsVivek Arya, Bank of America Securities senior semiconductor analyst, joins CNBC's 'Squawk on the Street' to discuss the semiconductor sector, Arms Holding earnings, AI, and more.
Persons: Vivek Arya Organizations: BofA, Bank of America Securities, Arms
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