Stock futures rise amid Iran peace hopes; crude rebounds after U.S. strikes.
Market Overview
- Stock futures are up amid hopes for a peace deal between the US and Iran.
- Crude oil prices recovered from morning lows after the US conducted "self-defense" strikes in southern Iran.
Key Events This Week
- Salesforce and Costco are scheduled to report earnings.
- The Federal Reserve's preferred inflation gauge will be released.
- The CNBC Investing Club will hold its May Monthly Meeting.
Analyst Opinions and Stock Movements
Amazon's Trainium Chips
The author admits underestimating Amazon's Trainium chips, now seen as a stronger long-term competitor to Nvidia.
Dell Technologies
Melius Research analyst Ben Reitzes recommends Dell ahead of its earnings report, citing its advantage in AI infrastructure integration.
Apple
Ben Reitzes also rates Apple a buy ahead of its Worldwide Developers Conference, expecting Google's Gemini integration with Siri.
Intel
Intel's stock has tripled this year to $120 per share; the author believes further gains are possible due to its foundry business and CPU demand.
Western Digital
Evercore ISI raised its price target on Western Digital to $575 from $500, calling the company an underappreciated AI stack element despite a 180% year-to-date increase.
Analog Chip Stocks
Bank of America highlighted the growing importance of data centers for Texas Instruments, Analog Devices, and Onsemi, raising Texas Instruments' price target to $370 from $320.
Workday
Goldman Sachs lowered Workday's price target to $151 from $206, citing AI integration concerns.
Chewy
Barclays cut Chewy's price target to $40 from $48 but maintained an overweight rating, noting improved profitability and customer spending despite a 50% stock decline since June last year.