The NASDAQ 100 After Hours Indicator is up 4.05 to 15,056.51. The total After hours volume is currently 86,608,826 shares traded.The following are the most active stocks for the after hours session: iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB) is -0.0386 at $50.00
Wall Street ended higher on Monday, with gains in 3M and Goldman Sachs ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve's interest rate path.
Hedge funds hold record exposure to the seven biggest tech stocks by market capitalization, according to data released on Friday by Goldman Sachs, in a week Nvidia hit an all-time high after beating revenue expectations.
Hedge funds hold record exposure to the seven biggest tech stocks by market capitalization, according to data released on Friday by Goldman Sachs, as managers resumed buying into the sector this month.
AAPL has declined in four out of the last five Septembers. Sometimes that weakness has run into early October, but before too long, it has always bounced back.
Wall Street's main indexes rose on Monday as a pullback in Treasury yields boosted megacap growth stocks ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve's interest rate path.
Apple (NASDAQ: AAPL) has been a fantastic stock to own recently, up 227% in the past five years and 36% just in 2023 (as of Aug. 25). These gains easily beat the Nasdaq Composite Index. But shares are down about 10% since the start of August.
Nvidia (NVDA) has done it again. The firm beat expectations and forecasts after an already delirious 2023 that had set “sky-high” expectations. NVDA had already risen more than 200% prior to the earnings news, now up 212%. The price itself has reached $456 after starting the year at less than $150. The earnings surprise comes [...]
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The Schwab Fundamental U.S. Large Company Index ETF (FNDX) made its debut on 08/13/2013, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Large Cap Value category of the market.
The Strive 500 ETF (STRV) was launched on 09/15/2022, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
After a strong rally in the first seven months of 2023, shares of Apple (
NASDAQ:AAPL
), Meta Platforms (
NASDAQ:META
), and Tesla (
NASDAQ:TSLA
) cooled a bit in August. Apple stock fell about 9% month-to-date, while Meta and Tesla stocks decreased by 10.4% and 10.9%, respectively, during the same period. Despite the pullback, analysts are optimistic about Meta and Apple stock. However, analysts remain sidelined on Tesla stock.
Against this backdrop, let’s delve into these mega-cap stocks.
What is the Apple Stock Forecast?
The recent weakness in Apple stock followed its
third-quarter financial results. Although its
earnings came ahead of the Street’s forecast, the decrease in iPhone, iPad, and Mac sales irked investors. The solid momentum in its Services revenue and a growing installed base provide a solid platform for long-term growth, notwithstanding the possibility that macro uncertainty may continue to pose challenges.
Further,
Citi analyst Atif Malik sees the launch of the iPhone 15 as a catalyst for Apple stock. The analyst reiterated a Buy on AAPL stock on August 16. In addition, his price target of $240 implies 34.37% upside potential from current levels.
Overall, Wall Street is cautiously optimistic about
Apple stock. It has received 22 Buy and eight Hold recommendations for a Moderate Buy consensus rating. At the same time, analysts’ average price target of $208.13 implies 16.53% upside potential from current levels.
Is Meta Stock Expected to Rise?
While there are no company-specific reasons for the recent pullback, profit booking after the solid rally in Meta stock may be to blame. Despite the current decline, Meta stock is still up about 137% year-to-date. Nonetheless, analysts see a significant upside in Meta stock from current levels.
The company’s
focus on cost reduction and improving its advertising backdrop keeps analysts bullish on Meta stock. On August 21,
Wedbush analyst Scott Devitt initiated coverage of Meta stock with a Buy and a price target of $350, implying 22.59% upside potential.
The analyst expects Meta to gain from the recovery in digital advertising, which will drive its revenue and
earnings. Moreover, improving efficiency will cushion its margins.
With 40 out of 42 analysts recommending a Buy on
Meta stock, it sports a Strong Buy consensus rating. Analysts’ average 12-month price target of $377.27 shows 32.14% upside potential.
Is Tesla Stock Expected to Rise?
Tesla stock has made a significant recovery so far this year. However, the pressure on margins due to continued price reductions has led to a pullback in its stock. Tesla CEO
Elon Musk is pushing for volumes and sacrificing margins in the short term amid growing competition. Further, the company has
rolled out cheaper versions of its Model S and Model X.
Analysts remain on the sidelines given the near-term concerns around margins and competition.
It has received 11 Buys, 13 Holds, and five Sell recommendations for a Hold consensus rating. Further, the
average TSLA stock price target of $254.21 implies a slight upside potential 6.55% from current levels.
The Bottom Line
Apple, Meta, and Tesla stocks are undoubtedly solid long-term picks. Nevertheless, analysts favor Meta over AAPL and TSLA at their current levels and see significant upside potential.
Disclosure
Many retail investors like to follow and imitate the actions of those whom they consider genius investors. Well-known stock pickers like Warren Buffett and Cathie Wood have developed considerable followings, and, rightly or wrongly, investors will sometimes buy stocks because inv
Terry Gou, the billionaire founder of major Apple Inc supplier Foxconn, said on Monday he was entering the race to be Taiwan's next president as an independent candidate in 2024 elections.
Terry Gou, the billionaire founder of major Apple Inc supplier Foxconn, said on Monday he was entering the race to be Taiwan's next president as an independent candidate.
It's generally best to approach the stock market with a long-term perspective, as holding over many years can shield your investment from temporary headwinds. Growth stocks are an excellent place to start, and the tech industry is filled with attractive options.
Are you looking for growth prospects that you can simply set and forget for a few years? You're in luck. Although the usual portfolio-building rules (like not owning too much of one single stock) will always apply, these kinds of stocks are out there. And the case for holding ove
U.S. trade chief Katherine Tai has raised concerns with India over the Asian nation's new order mandating licenses for the import of laptops, tablets and personal computers, according to a statement.