| NVIDIA Corp (NVDA) | | +0.11% | On watch after Barclays raised its price target on the stock to $200 from $170, citing roughly $2 billion upside in July versus Street estimates and stronger-than-expected Compute demand despite a shortfall in Blackwell wafer capacity. The firm sees mid-teens quarter-over-quarter Compute revenue growth into October and January. The company is reportedly attending a key supply-chain expo in Beijing in July. Separately, key Nvidia supplier SK Hynix traded at its highest level in over two decades during the overnight session following reports that it is planning to build the largest AI data center in South Korea.
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| | Tesla Inc (TSLA) | | -0.62% | Wells Fargo reiterated its Underweight rating on the stock, now projecting a $1.9 billion free cash flow burn in 2025; this would mark Tesla’s first negative FCF year since 2018. The firm attributed the negative outlook on the company to stagnant Q2 deliveries, weakening margin leverage, high $11B capex, and growing EBIT risk from potential loss of ZEV credits. Wells Fargo also flagged delays on Tesla’s next-gen vehicle and muted guidance as additional concerns.
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| | Palantir Technologies Inc (PLTR) | | +0.54% | On watch after the Defense Department announced that it has given a $200 million contract to OpenAI. William Blair analysts noted that Palantir could face new competitive pressure following the announcement, especially given the size of the deal and the fact that this is OpenAI’s first major government win. The analyst warns that Palantir shares may trade lower in the near term due to their recent run-up, premium valuation, and signs that OpenAI is starting to encroach on Palantir’s core software and ontology domain.
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| | Apple Inc (AAPL) | | -0.36% | A federal judge ruled that the company must face a proposed class action accusing it of illegally monopolizing digital storage by requiring iPhone users to back up core data through iCloud, potentially causing consumers to overpay. Judge Eumi Lee revived the lawsuit after previously dismissing it, citing new allegations that emphasize the essential role of iCloud for backing up restricted iPhone data like settings files. Separately, UBS maintained its Neutral rating and $210 price target for Apple, citing weak long-term demand signals and uninspiring WWDC announcements,.
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