Nasdaq notches five-week streak: Longest since November 2021

Tech stocks on display at the Nasdaq. Peter Kramer | CNBC The Nasdaq just wrapped up its fifth straight week of gains, jumping 3.3% over the last five days. It’s the longest weekly winning streak for the tech-laden index since a stretch that ended in November 2021. Coming off its worst year since 2008, the … Read more

Analysts stand by Apple, say iPhone maker’s ‘flywheel keeps spinning’ despite disappointing earnings

Analysts aren’t giving up on Apple despite the tech giant’s near-term headwinds. The iPhone maker on Thursday posted its largest quarterly decline in revenue since 2016 . It also posted weaker-than-expected results in multiple areas as it grappled with a strong dollar, macro issues and production problems in China that constrained iPhone 14 Pro and … Read more

Investors can make money during pessimistic times. Here’s how

I began working at Merrill Lynch after school when I was 16 years old. One of the more senior brokers told me that the most important lesson I could learn about the stock market was – drumroll, please – “Buy low. Sell high.” That’s it? I got it, I thought. However, that advice is so … Read more

Virtus’ Terranova dumps these two tech stocks, says he doesn’t trust the recent high-beta rally

Joe Terranova doesn’t trust the recent rally in a slew of high-beta stocks. As a result, the senior managing director at Virtus Investment Partners dumped shares of Microsoft and Tesla in the quarterly rebalance of the Virtus Terranova U.S. Quality Momentum ETF , he told CNBC’s ” Closing Bell: Overtime ” Tuesday. “Momentum is not present in … Read more

Asia’s chipmakers fall as Samsung sees worst quarterly profit in 8 years

Attendees wait in line beneath a large LED display of smart connected home products to enter the Samsung Electronics booth, during the Consumer Electronics Show (CES) in Las Vegas, Nevada, on January 6, 2023. Patrick T. Fallon | AFP | Getty Images Shares of semiconductors in Asia fell as South Korean chip giant Samsung Electronics … Read more

Dan Niles says he wouldn’t touch Apple going into earnings

Hedge fund manager Dan Niles said Monday that he wouldn’t invest in Apple heading into its quarterly earnings given the high valuation. “I wouldn’t touch Apple,” Niles said on CNBC’s ” Closing Bell ” Monday. “This company was not growing revenues in 2019 … and don’t forget smartphone unit sales for the entire industry was down … Read more

How analysts are playing gig economy stocks ahead of earnings

Wall Street will be following earnings from gig economy companies in the coming weeks to see if and how they’ve been impacted by pandemic recovery trends. But analysts aren’t fully aligned on how to play the sector. The 2022 selloffs underscored the challenges gig economy stocks have faced in recent years as novelty and venture … Read more

Berenberg upgrades Tesla, says price cuts are part of a broader strategy

Tesla is a beaten-down stock worth buying now following price cuts, according to Berenberg. Analyst Adrian Yanoshik upgraded the stock to buy from hold. Yanoshik lowered his price target by $55 to $200, which still implies a 12.4% upside from where the stock closed Friday. He lowered his earnings estimate by around 25% for 2023 … Read more

Goldman names tech stocks it says can outperform

One corner of tech, software, might be seeing “limited appetite” from the market, according to Goldman Sachs. But the investment bank is optimistic. It listed several reasons for its bullish call: “a more constructive setup due to near record-low valuations … conservative management guidance that better aligns with investor expectations, and an inflection towards cost … Read more