Analysts warn that while Palantir's execution is impressive, concerns remain that its stock trades at a valuation difficult to justify without further acceleration.
Phillip Securities lowered its price target on Apple on Monday to $200 from $235, citing reduced gross margin estimates linked to higher tariffs and persistent weakness in China following the company’s Q2 earnings.
Chief Executive Hassane El-Khoury stated that the company continues to see strong design win momentum and has secured key wins with major global customers across all end-markets.
Wall Street pushed higher in midday trading, with the S&P 500 on track for its eighth consecutive gain — its longest winning streak since November 2023. The index rose about 1% to 5,560, fully recovering the losses sustained after former President Donald Trump announced trade tariffs on April 2.
Biopharma stocks rally along with many of our SMID cap trades. The market situation with pharmaceuticals is even more complicated because we started off with legislation (the IRA) trying to curb rising drug and healthcare costs.
Prices broke down on Monday, reversed on Tuesday, and ultimately ended the week strong. In addition, new NYSE 52-week lows have remained at relatively harmless levels for about two weeks.
The major indices closed with nice gains on Wednesday, but well off the highs achieved earlier in the session. It shouldn't be hard to tell what sector led – technology. But the bigger technical picture remains troubling.
In this week's video, we'll review the latest charts and data to help us answer the question: the breadth thrusts nailed down on Thursday — do the charts overall align with the rare bullish signals or contradict them?
