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BofA - 8 — - 4 it's - 4 Morgan Stanley - 3 It's - 3 Apple - 2 Jefferies - 2 Piper Sandler - 2
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☆ Bank of America calls this chip stock its top AI pick with 'no signs of demand slowing down'
  + stars: | 2024-07-16 | by ( Brian Evans | ) www.cnbc.com   time to read: +1 min
Bank of America thinks Broadcom can continue to cash in on the artificial intelligence boom, with the company showing "no signs of slowing down." Broadcom stock has advanced nearly 54% in 2024, as the company emerged as one of the key beneficiaries of the rise of AI outside of Nvidia . A 10-for-1 stock split it recently announced took effect on Monday. AVGO YTD mountain Broadcom stock. The mix of this customer base will help stoke and maintain future demand, Arya noted.
Persons: Vivek Arya, Arya, Hock Tan, Tan, AVGO Organizations: of America, Broadcom, Nvidia, Google, stoke
☆ The stars have aligned for this corner of the stock market as the US economy enters its 'Goldilocks' era, BofA says
  + stars: | 2024-07-15 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
The bank said the Federal Reserve can shift its focus to economic growth after the cool June CPI report. "Slowing GDP + accelerating EPS has been the best backdrop for stocks," Bank of America said. AdvertisementThe cooler-than-expected June CPI report is fueling a "Goldilocks" economy that should benefit one specific corner of the stock market: cyclicals. We think the economy is moderating not rolling over, but we expect our view to evolve with the data," Kwon said. "Slowing GDP + accelerating EPS has been the best backdrop for stocks," Kwon said.
Persons: —, Ohsung Kwon, Kwon Organizations: Bank of America, Federal, Service, Fed, Apple, Microsoft, Nvidia, Tesla
☆ 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
☆ Upcoming earnings will determine whether the stock market rotation is here to stay or a one-day wonder
  + stars: | 2024-07-12 | by ( Bob Pisani | ) www.cnbc.com   time to read: +3 min
Certainly lower interest rates are a huge help, particularly for small-cap companies that are generally more sensitive to interest rate changes. There must be a belief that earnings will broaden out beyond a small group of megacap tech stocks. The root source of the long tech rally is the superior earnings growth of technology. Two questions follow: with the massive rise in tech prices, is most or all of that earnings growth now priced in, and what are the prospects for earnings growth in other sectors? The problem is identifying where this additional earnings growth is coming from, and how robust it might be.
Persons: it's, Supriya Menon, America's Savita Subramanian, Bryan Spillane, Subramanian Organizations: New York Stock Exchange, Federal Reserve, Nvidia, Wellington Management, Bloomberg, Bank, America's Locations: cyclicals
☆ Here are Friday's biggest analyst calls: Tesla, Nvidia, Micron, Apple, Starbucks, Amazon, Netflix, Oracle, Microsoft & more
  + stars: | 2024-07-12 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
forward Price Target (28% upside)." Bank of America reiterates Micron as buy Bank of America said it's sticking with its buy rating after a series of constructive management meetings. Benchmark reiterates Nvidia as buy Benchmark raised its price target on Nvidia to $170 per share from $135. "We are raising our rating on Booking Holdings (BKNG) to Buy from Hold and establishing a new $4,700 per share price target." "We are initiating coverage on Carvana Co. with a BUY rating and $155 PT."
Persons: Tesla, Wolfe, Price, Bernstein, Apple, Morgan Stanley, it's, BTIG, Baird downgrades Visteon, Baird, Jefferies, Jill, Piper Sandler, Piper, DraftKings Organizations: UBS, Spotify, Citi, Bank of America, Micron, Barclays, Medicines, JPMorgan, Netflix, Amazon's, Nvidia, Western Digital, Holdings, Booking Holdings, Jefferies, Inter, Microsoft, Oracle, Deutsche Bank, Deutsche Locations: 2H24
☆ Wall Street's renewed bullishness on Apple stock is all about the iPhone 16
  + stars: | 2024-07-11 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +3 min
Bank of America increased its price objective for Apple stock in a note on Thursday. The bank highlighted the next iPhone upgrade as the key to taking Apple stock higher. The AI system is known "Apple Intelligence," and can only be accessed on Apple models 15 and older. AdvertisementBut the iPhone 16's features aren't the only catalyst — there's pent up demand for a new model, Wedbush said, estimating that 270 million iPhone users have not upgraded their devices in four years. Preference for Apple increased above other smartphone brands.
Persons: —, Siri, BofA, Wedbush Organizations: Bank of America, Apple, Service, . Bank of America, Apple Intelligence, Wedbush Securities, Huawei Locations: China, Mar
☆ BofA Institute’s Liz Everett Krisberg on consumer: Continue to see services outperform retail
  + stars: | 2024-07-11 | 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 Institute’s Liz Everett Krisberg on consumer: Continue to see services outperform retailLiz Everett Krisberg, head of Bank of America Institute, joins ‘Squawk Box’ to break down the Institute’s July Consumer Checkpoint Report, which provides real-time consumer spending and financial health estimates.
Persons: Liz Everett Krisberg Organizations: Bank of America Institute
☆ Gen Zs are better at 'loud budgeting,' but nearly half still need financial support from family: study
  + stars: | 2024-07-10 | by ( Grace Eliza Goodwin | ) www.businessinsider.com   time to read: +3 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewGen Zs are struggling financially, and nearly half of them rely on their parents for support, a new study found. Bank of America released a report Wednesday outlining Gen Z's financial health, and things aren't looking too great for these 18- to 27-year-olds. AdvertisementThe research found that 38% of Gen Zs are OK admitting to their friends that they can't go to certain social events because they can't afford them. "It is critical that we continue to empower Gen Z to work toward achieving financial health and meeting their long-term goals."
Persons: —, it's, Zs, It's, Rachel, Phoebe, Joey, shamefully, Chandler, Ross, Monica, Holly O'Neill, BofA's, Gen Organizations: Service, Bank of America, Business, Bank of America's, Bank, Retail Banking Locations: Ibiza
☆ CNBC Daily Open: Fed's Powell says high rates could hurt growth
  + stars: | 2024-07-10 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield on the 10-year Treasury note rose even as Powell said progress had been made on inflation. Growth in jeopardyPowell warned that keeping interest rates high for too long could harm economic growth. Mainland China's CSI 300 was little changed as consumer price inflation rose less than expected and producer prices fell, raising concerns about deflation in the world's second-biggest economy.
Persons: Inching, Jerome Powell, KeyBanc, Apple, Powell, Joe Biden, NATO's, Putin, Biden, Max Organizations: CNBC, Nasdaq, Nvidia, Dow Jones Industrial, Russia, Patriot, Boeing, China's CSI, Bank of America Locations: intraday, Ukraine, U.S, Germany, Romania, Netherlands, Italy, Asia, China, Pacific, South
☆ The 4 Apple suppliers set to pop on iPhone 16 series launch: BofA
  + stars: | 2024-07-10 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com   time to read: +4 min
"A solid iPhone replacement cycle and spec upgrade should help HH's better sales/earnings in 2025-26," the investment bank's analysts wrote. The bank expects the China-based design and manufacturing giant to see strong margins as demand for its casings increases in tandem with better iPhone shipment cycles between 2025 and 2026. "We lift Foxconn Industrial Internet (FII)'s 2024-26E earnings by 2-6% on potentially better iPhone casing sales and strong AI server contribution," the analysts wrote. "We expect BYDE's casing profitability to gradually improve on better operation efficiency (higher automation rate, improving yield)," the analysts wrote. They have lifted the company's 2025-2026 earnings expectations by 2% to "reflect potentially better iPhone volume, robust auto expansion as well as rising AI-related contribution (server, robot)."
Persons: Ming, Chi Kuo, Ross Young, Hai, BofA, Foxconn, — CNBC's Michael Bloom Organizations: Tech, Apple, Bank of America, Hai Precision Industry, Taiwan Stock Exchange, American Depository, New, Industrial, Taiwan Stock Exchanges, U.S . Its, Shenzhen Stock Exchange, China 5G, Semiconductor, Hong Kong Exchange, Hong Locations: U.S, New Taiwan, China, Shanghai, Taiwan, U.S . Its Shanghai, Hong Kong
☆ Falling lumber costs may bring homebuilding cost relief, says BofA's Rafe Jafrosich
  + stars: | 2024-07-10 | 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 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
☆ Tuesday's rapid fire: BofA, RH, Intel, Netflix, Smurfit Westrock
  + stars: | 2024-07-09 | 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 EmailTuesday's rapid fire: BofA, RH, Intel, Netflix, Smurfit WestrockJim Cramer looks at five stocks outside the CNBC Investing Club portfolio.
Persons: Westrock Jim Cramer Organizations: Intel, Netflix, CNBC, Club
☆ Jim Cramer calls this stock the Buffett bank; warns nothing really new on Netflix
  + stars: | 2024-07-09 | by ( Matthew J. Belvedere | ) www.cnbc.com   time to read: +1 min
Bank of America : Piper Sandler upgraded the stock to neutral from underweight (hold from sell) and raised its price target to $42 per share from $37. "It's becoming the Buffett bank," Jim Cramer said Tuesday ahead of next week's earnings. RH : Stifel started coverage of the company formerly named Restoration Hardware with a buy and a $315-per-share price target. Netflix : Cowen increased its price target on the stock ahead of earnings next week. Smurfit Westrock : Stifel started coverage of the paper-based packaging company with a buy rating and a $65.70-per-share price target.
Persons: Jim Cramer's, Piper Sandler, It's, Jim Cramer, Warren, Berkshire Hathaway, BofA ., Stifel, Gary Friedman, Gary, Cramer, He's, chipmaker, he's, Cowen, There's, it's Organizations: CNBC, Club, Bank of America, Buffett, Berkshire, Intel, Netflix Locations: BofA
☆ Nvidia is just at the start of their gen 2 deployment phase, says BofA's Vivek Arya
  + stars: | 2024-07-09 | 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 EmailNvidia is just at the start of their gen 2 deployment phase, says BofA's Vivek AryaVivek Arya, Bank of America senior semiconductor analyst, joins 'Squawk Box' to discuss Nvidia's stock performance, why he believes the stock is relatively underowned, state of the chip sector, and more.
Persons: BofA's Vivek Arya Vivek Arya Organizations: Nvidia, Bank of America
☆ Stocks making the biggest moves midday: Paramount Global, Morphic Holding, Ideaya Biosciences and more
  + stars: | 2024-07-08 | by ( Sean Conlon | ) www.cnbc.com   time to read: +3 min
Skydance and its financial backers will invest more than $8 billion into Paramount and to acquire National Amusements, Paramount's controlling shareholder. Morphic Holding – Shares rallied 75% on news that Eli Lilly will acquire the biopharmaceutical company in a $3.2 billion deal . The deal will give Eli Lilly access to Morphic's portfolio of treatments in development, such as those for ulcerative colitis and Crohn's disease. Shares of Eli Lilly advanced 1.3% on the news. Boeing – Shares fell slightly after the airplane maker agreed to plead guilty to criminal fraud related to the fatal 737 Max crashes, sparing Boeing from a trial.
Persons: Eli Lilly, BofA, Corning, Guggenheim, Max, Grayson, Raymond James, Samantha Subin, Pia Singh, Hakyung Kim, Sarah Min, Michelle Fox Organizations: Paramount Global, Skydance Media, Skydance, Paramount, National, Morphic, Ideaya Biosciences, Bank of America, Boeing –, Boeing, ., CNBC, Devon Energy, Gilead Sciences Locations: Columbia, Stifel, Williston, Gilead
☆ Soaring U.S. stocks make China’s market look worse than it is. Names to watch
  + stars: | 2024-07-07 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +4 min
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
☆ Bank of America's global 'Best of Breed' portfolio is trouncing the market. Here's what's in it
  + stars: | 2024-07-05 | by ( Sean Conlon | ) www.cnbc.com   time to read: +2 min
Investors looking for outperformance in the third quarter may want to check Bank of America's global "Best of Breed" portfolio. Its third-quarter Best of Breed list is heavily exposed to tech, with the sector netting a 64% portfolio weighting. Here are some of the stocks in the portfolio: Nvidia made the list after a monstrous run this year, surging about 159%. The firm reiterated its overweight rating and raised its price target to $144 from $116 in a Monday note. The firm sees revenue growth accelerating in the second half of this year and operating income growth inflecting in 2025.
Persons: Morgan Stanley, Shopify, BofA, Tyler Radke, NetEase Organizations: America's, Nvidia, Apple, Microsoft, Citi, U.S, Palantir Technologies Locations: U.S, China
☆ Utility bills are getting cheaper, but AI could spoil the party
  + stars: | 2024-07-04 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +4 min
AdvertisementAlthough payments have declined, electricity prices — the chief component driving utility costs — have been rising quickly, BofA noted. The upswing is on account of increased power demand, fueled by a range of diverse sources. But AI is the front-and-center factor that will drive utility costs up over a potentially multi-decade horizon, BofA noted. Higher demand cloud servers has already caused a upswing in commercial electricity demand, such as in Virginia and Texas. AdvertisementFor investors, the rising power demand has drawn a spotlight on utility stocks, projected to be the AI boom's actual winners.
Persons: BofA, —, It's Organizations: Bank of America, Service, BofA Global Research Locations: Virginia, Texas
☆ Here are Bank of America’s top long picks, and one short, for the third quarter
  + stars: | 2024-07-03 | by ( Sean Conlon | ) www.cnbc.com   time to read: +2 min
With the second half kicking off, Bank of America is noting its top long picks along with one short for the third quarter. The Dow Jones Industrial Average underperformed, however, moving 3.8% higher due to a pullback in the second quarter. The bank sees second quarter revenue coming in above Spotify's previous guidance, and other yardsticks such as premium subscribers at least matching company forecasts. Conversely, Bank of America named CarMax , another auto retailer, its short idea for the quarter. The firm's $50 price target implies nearly 30% downside from Monday's close.
Persons: BofA, Jessica Reif Ehrlich, Reif Ehrlich, Goldman Sachs, John Murphy, KMX Organizations: Bank of America, Nvidia, Nasdaq, Dow Jones, Bank of, Spotify, Seaport Research Partners, AutoNation, Union Pacific
☆ Japanese manufacturer sentiment stronger than we expected: BofA Securities
  + stars: | 2024-07-01 | 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 EmailJapanese manufacturer sentiment stronger than we expected: BofA SecuritiesIzumi Devalier, head of Japan economics at BofA Securities, discusses the Bank of Japan's latest Tankan survey and the outlook for its monetary policy.
Persons: BofA Securities Izumi Devalier Organizations: BofA Securities, Bank of Japan's Locations: Japan
☆ Investors wondering if the S&P 500's strong year can continue should watch this key chart metric, says Bank of America
  + stars: | 2024-07-01 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
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
☆ BofA's Lorraine Hutchinson on Nike: This was a much 'bigger reset' than we had expected
  + stars: | 2024-06-28 | 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 Lorraine Hutchinson on Nike: This was a much 'bigger reset' than we had expectedLorraine Hutchinson, Bank of America analyst, joins 'Money Movers' to discuss Nike's latest earnings and more.
Persons: BofA's Lorraine Hutchinson, Lorraine Hutchinson Organizations: Nike, Bank of America
☆ These are Jefferies best stock ideas heading into the second half
  + stars: | 2024-06-28 | by ( Sean Conlon | ) www.cnbc.com   time to read: +3 min
Jefferies highlighted its best global stock picks as the second half of the year approaches, representing the firm's highest-conviction stocks with a buy rating. With its price target at 1,260 euros, he sees about 22.6% upside from Thursday's close. BofA also raised its price target by $193, or 146 euros, and maintained its buy rating on the stock. Petersen anticipates stock upside due to a stronger growth rate of data center chip sales. On Wednesday, the firm upgraded the stock to outperform from market perform and raised its price target by $26 to $170.
Persons: Jefferies, Janardan Menon, Menon, BofA, Lloyd Byrne, Jonathan Petersen, Petersen Organizations: Bank of America, Union semicaps, ConocoPhillips, Marathon, Digital Realty, BMO Capital Markets, Microsoft, Nintendo Locations: United States, Latin America, Europe, Middle East, Africa, Asia
☆ The Fed needs more time to determine appropriate rate path, says BofA's Michael Gapen
  + stars: | 2024-06-28 | 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 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
☆ JPMorgan and Morgan Stanley boost buybacks and dividends, while Citigroup and BofA take smaller steps
  + stars: | 2024-06-28 | by ( Hugh Son | ) www.cnbc.com   time to read: +2 min
JPMorgan Chase and Morgan Stanley said Friday that they were boosting both dividend payouts and share repurchases, while rivals Citigroup and Bank of America made more modest announcements. JPMorgan, the biggest U.S. bank by assets, said it was raising its quarterly dividend 8.7% to $1.25 per share and that it authorized a new $30 billion share repurchase program. Morgan Stanley, a dominant player in wealth management, said it was boosting its dividend 8.8% to 92.5 cents per share and authorized a $20 billion repurchase plan. Citigroup said it was raising its dividend 5.7% to 56 cents per share and that it would "continue to assess share repurchases" on a quarterly basis. Bank of America said it was increasing its dividend 8% to 26 cents per share.
Persons: Brian Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Morgan Stanley, Dimon Organizations: Bank of America, JPMorgan, Citigroup, Washington , D.C, Federal Reserve Locations: Hart, Washington ,, New York
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