Loop Capital downgraded Apple to Hold and expects 79 million December-quarter iPhones versus Wall Street's 85 million; ByteDance, Alibaba and Tencent reportedly ordered more than 3 million Nvidia RTX PRO 5500 cards worth over $35 billion
Loop Capital downgraded Apple to Hold from Buy and cut its price target to $330 from $370. Its supply-chain checks suggest Apple will not recover 13 million iPhone shipments cut from its 2026 plans, and Loop now expects 79 million iPhones in the December quarter against Wall Street's 85 million. Newsquawk listed Apple down 1.2% after the downgrade.
Reuters sources said the three Chinese firms ordered the export-compliant cards at about 85,000 yuan each, and Nvidia told partners they might receive only 5% to 10% of requested quantities. One source said Nvidia could produce no more than 3 million of the cards globally in 2027, while total China orders exceeded 6 million. Jukan relayed a report that scarce computing capacity made the card a more attractive substitute.
GM reported EPS of $3.70 against a $3.56 estimate, raised its full-year adjusted auto free-cash-flow outlook to $11.5-12.5 billion from $9.5-11.5 billion and approved a new $20 billion buyback. DeItaone noted adjusted EBIT of $4.11 billion missed the $4.25 billion expected. ZeroHedge reported GM's premarket drop extended to 8%. On CNBC, CFO Paul Jacobson tied the buyback to free-cash-flow generation.
TheValueist reported Q3 revenue up 79% year over year, beating the $187 million Bloomberg consensus, with royalties beating a $48 million estimate. Gaetano noted about $100 million of bookings in Vicor's first two weeks of Q4, including a large second-generation power-delivery order from its lead customer, and management's expectation of at least $43 million of Q4 royalties without new licenses. Gaetano cautioned that Q3 should not be annualized.
Per a Reddit post, ARK Investment bought 132,498 CoreWeave shares on Monday. On X, @mr_derivatives bought a small batch as a swing trade, and @degentradinglsd called CoreWeave one of their bets because of how crushed it got.
Putting this on for a trade - current narrative right now is that $CRWV is doomed to die, neos are
@psyduckcapital snapped up tiny starters in MLYS and VERA to expand a biotech reversal basket, after adding AXSM and PRAX earlier this week.
@grumpierbtday said they are long and buying into the lows, citing tangible book value of about $7.30 per share, $4.60 of it cash.
Gaetano laid out BofA's Buy case with a roughly $18 target, which expects more than $2.25 billion of Q3 AI-related orders, and said Thursday should give a better read on Nokia's progress.
Morgan Stanley's Mike Wilson expects two to four more weeks of digestion and sees AI leadership rotating toward companies deploying the technology.
David Rosenberg's base case is a meaningful slowdown or recession in 2027; he recommends reducing risk and favoring Treasuries, defensive sectors, gold and some cash.
Loop Capital downgraded Apple to Hold, expecting 79 million December-quarter iPhones versus Wall Street's 85 million.