""We see a positive set up for the shares heading into F1Q26 (Dec-end) earnings print as AAPL shares are trading at 30x NTM P/E, below the peak multiple that is typical for the shares heading into a key iPhone product cycle (previous peak of ~32x into 5G cycle), in combination with the modest upsides in relation to both F1Q26 print and the F2Q26 outlook," added the firm, as quoted by CNBC."
"Shares of CoreWeave ( NASDAQ: CRWV) are up about 9% after Nvidia (NASDAQ: NVDA) invested $2 billion in the company. "CoreWeave's deep AI factory expertise, platform software, and unmatched execution velocity are recognized across the industry," Nvidia CEO Jensen Huang said in a press release. "Together, we're racing to meet extraordinary demand for NVIDIA AI factories-the foundation of the AI industrial revolution." Reportedly, the agreement will allow CRWV to accelerate the buildout of more than five gigawatts of AI factories by 2030."
Premarket futures are mixed with the S&P 500 down about 0.27% while the SPDR S&P 500 ETF (SPY) is up slightly. The Dow has turned positive and the Nasdaq is slipping 0.23%. Major technology companies including Apple, Meta Platforms and Microsoft will report earnings. Apple rose $3 premarket after JPMorgan raised its price target to $315 and reiterated an overweight rating, citing a favorable setup with shares trading at 30x NTM P/E ahead of an iPhone product cycle. CoreWeave jumped 9% after Nvidia invested $2 billion, enabling accelerated AI factory buildout. USA Rare Earth gained 22% after Benchmark initiated a buy rating with a $15 target.
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