Wall Street Breakfast Apple, Nvidia get research love
Oct 14, 2024
Evercore has added Apple to its Tactical Outperform list, signaling strong confidence in the tech giant. Meanwhile, Wells Fargo shows optimism regarding Nvidia's pricing strategies. Interesting discussions arise around Uber, considered a major winner from Tesla's recent robotaxi event. In a broader context, OPEC's downgrade of global oil demand growth adds fuel to the conversation about market volatility. Lastly, insights into how colonial-era institutions affect present-day wealth are highlighted, revealing vulnerable sectors for potential short positions.
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Apple Set To Clear A Lower Bar
- Evercore argues Apple can outperform due to lower expectations heading into September and December quarters.
- Amit Dharianani says bearish sentiment likely means buy-side forecasts sit below consensus, creating an upside catalyst.
Nvidia Pricing Eases Margin Worries
- Wells Fargo highlights NVIDIA's DGX B200 list pricing above $500,000 as a positive for revenue and platform monetization.
- The firm notes higher system pricing could ease concerns about NVIDIA's gross margin dynamics.
Caterpillar Faces Destocking Risk
- Morgan Stanley cut Caterpillar to underweight citing risks of a destocking downturn in U.S. construction equipment.
- Analyst Angel Castillo warns of rising evidence for downward earnings revisions for the company.