On Tuesday, September 9, all eyes will be on Apple as it prepares to unveil what is anticipated to be the thinnest iPhone yet, part of the iPhone 17 lineup. The event, scheduled to commence at 1 p.m. ET, has stirred significant anticipation among tech enthusiasts and consumers alike. Many industry experts believe that this latest iteration could be the catalyst that prompts many to upgrade their aging devices.
Meanwhile, Nvidia’s valuation continues to be scrutinized. A report from The Wall Street Journal’s Heard on the Street column raises questions about the ongoing pressure on Nvidia’s growth metrics. Analysts and investors are left wondering whether this scrutiny is stemming from customer sentiment or other market factors as they assess Nvidia’s future potential.
In the infrastructure arena, UBS has signaled a renewed interest in Palantir, reporting promising trends based on recent discussions with CFO David Glazer. While the firm has not upgraded its hold rating, it noted that there are no signs of increasing pressures within either the commercial or government sectors.
In corporate partnerships, AI infrastructure company Nebius has signed a significant cloud computing agreement with Microsoft, potentially worth up to $19.4 billion. This shift comes as Nebius, spun out from Yandex, has seen its stock surge over 50% in premarket trading, reflecting growing investor enthusiasm.
Citi has also raised its price target for software company ServiceTitan to $123, up from $111, indicating a belief that the worst-case predictions might be overly pessimistic. The company is carved out uniquely in its sector, distinctly benefiting from a strong software-as-a-service (SaaS) model without excessive reliance on AI advancements.
In personnel news, Dell Technologies announced the departure of CFO Yvonne McGill, who will be succeeded temporarily by veteran David Kennedy. Despite the transition, Morgan Stanley expressed confidence that McGill’s exit wasn’t tied to any negative performance trends, though shares dipped about 1%.
Oracle has caught attention as well, with Citi increasing its price target from $196 to $240 just ahead of the company’s fiscal first-quarter results. Meanwhile, BMO Capital has also raised its target from $245 to $275, driven largely by sustained demand for AI-related services, though they cautioned that margins might face pressures.
In the mining sector, the merger between Anglo and Teck Resources has given rise to one of the largest copper producers globally, with shares for both companies experiencing upward momentum following the announcement.
E.l.f. Beauty has seen an upgraded price target from Canaccord, bumped to $165 from $128, pinning the company’s increasing value on its broad growth potential amidst a competitive market landscape.
Lastly, Casey’s General Stores reported first-quarter earnings that aligned with its premium valuation, surpassing estimates by posting EPS of $5.77 compared to the anticipated $5.02. Following the announcement, shares experienced a slight dip, although the stock has appreciated more than 30% this year, drawing attention from investors keen on the stock’s overall performance.
As discussions unfold and stocks fluctuate in response to these developments, investors are encouraged to keep abreast of market trends and analysis from trusted sources.
