"Stocks are under pressure out of the gate as the markets process a changing of the guard at the Fed as well as the latest earnings from corporate America. The Nasdaq Composite is lower by 0.34% but has advanced by 1.7% in January. Technology stock Apple ( Nasdaq: AAPL) is weighing on the Nasdaq today on the heels of its earnings print"
"Apple is ramping up its capex spending, announcing plans to scoop up Israeli AI startup Q.AI in a nearly $2 billion deal. Meanwhile, Bank of America have reemphasized their "buy" rating on Apple stock on the heels of the company's earnings. Analysts over at JPMorgan lifted the price target on Apple stock to $325 per share. Flash memory maker Sandisk ( Nasdaq; SNDK) is bucking the downward trend today, soaring by 12% on the heels of its better-than-expected earnings print."
Markets opened lower as investors reacted to a Federal Reserve leadership change and mixed corporate earnings. The Nasdaq fell 0.34% while remaining up 1.7% for January. Apple pressured the Nasdaq after reporting earnings and signaling increased capex alongside plans to acquire Israeli AI startup Q.AI for nearly $2 billion. Meta experienced profit taking and precious metals pulled back after recent gains. U.S. producer prices rose 0.5% in December following a 0.2% November increase, indicating higher business costs in a tariff-heavy environment. Sandisk jumped 12% on stronger-than-expected earnings and AI-driven demand, prompting analyst target upgrades.
Read at 24/7 Wall St.
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