markets

Rani Molla6/26/25

JPM lowers Apple price target due to reflect tariff purchases and unexciting iPhone 17

Analysts at JPMorgan have lowered their price target for Apple to $230 from $245, about 14% above where the iPhone maker closed yesterday, to account for pull-forward purchases that happened out of fear of tariffs and underwhelming upgrades on its upcoming phone, iPhone 17 — both of which could moderate demand going forward.

Analysts led by Samik Chatterjee wrote:

“Our more bearish view in relation to the volume outlook for iPhone 17 series is in conjunction with our unchanged expectations for a stronger cycle in iPhone 18 series with the launch of a foldable smartphone as well as further progress in relation to AI features that have been long awaited and delayed relative to initial investor expectations.”

Apple CEO Tim Cook on the company’s last earnings call denied that tariffs had led to a surge in demand — at least not for the quarter ending in March, which was before President Trump’s Rose Garden tariff announcements — but that certainly may have happened since.

Wall Street’s average price target for the shares is in the same ballpark as Chatterjee’s, at roughly $227, per analysts polled by Bloomberg.

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Tasha Matsumoto

Stocks cap off a fantastic year with a bad day

Every sector traded lower and all of the Magnificent 7 stocks fell.

UNITED STATES - FEBRUARY 04: Football: Super Bowl XLI, Chicago Bears Brian Urlacher (54) upset after losing game vs Indianapolis Colts, Confetti, Miami, FL 2/4/2007

markets

Luke Kawa12/31/25

Trump Media jumps after announcing plans to distribute digital tokens to shareholders

Trump Media & Technology Group is jumping in premarket trading after the owner of Truth Social announced plans to distribute a digital token to shareholders in partnership with Crypto.com (which is also its partner in the event contracts space).

Shareholders will receive one token per share owned, according to the press release, which can give the holder access to “various rewards” that “may include benefits or discounts tied to Trump Media products.”

This move is a little closer to home for Trump Media, which has effectively been a digital asset treasury, compared to its recent merger with fusion energy company TAE Technologies, which will radically transform the entity.

markets

Luke Kawa12/31/25

Nvidia, TSMC rise as the world’s most valuable company reportedly asks for more chips to meet Chinese demand

Nvidia and TSMC are modestly higher in premarket trading Wednesday after Reuters reported that the chip designer asked the Taiwanese chip manufacturing giant to boost production of its H200 AI chips.

Earlier this month, US President Donald Trump said that Nvidia would be able to ship the best-performing processors from its Hopper generation to China, with 25% of the proceeds going to the US government. Per the report, Chinese companies have already placed orders for more than 2 million of these chips in 2026, roughly triple the 700,000 in inventory that Nvidia has in reserve. Reuters added that Nvidia is planning on selling these chips at around $27,000 apiece, which would amount to a more than $54 billion boost in revenues if it’s able to realize all this reported demand. The ability to do so will also depend on Chinese regulators green-lighting purchases. The chip designer’s success in 2025 has come despite being effectively shut out of the Chinese AI market for the year.

The outlet previously reported that Nvidia plans to begin sending these GPUs to China before the Lunar New Year holiday (which starts on February 17, 2026), and that Chinese companies are eagerly awaiting the opportunity to get their hands on these powerful chips.

During Nvidia’s Q3 conference call, which came prior to the Trump announcement, CEO Jensen Huang expressed confidence in his ability to meet demand for the company’s GPUs going forward, saying, “In many cases, we’ve secured a lot of supply for ourselves, because obviously, they’re working with the largest company in the world in doing so.”

Huang’s relationship with critical supply chain partner TSMC appears to benefit from a personal touch: during his November visit to Taiwan, he met with the chipmaker’s CEO, CC Wei, as well as other execs over hot pot, and called TSMC “the pride of the world” the next day.

markets

Luke Kawa12/31/25

Nike rises after CEO Elliott Hill purchases $1 million in company stock

Nike is sprinting to the finish line in 2025, up more than 2% in premarket trading after a filing after the close on Tuesday showed that CEO Elliott Hill purchased a little over $1 million in company stock on December 29.

The news comes on the heels of last week’s revelation that Apple CEO and board member Tim Cook bought nearly $3 million in Nike stock.

Hill returned to the company to replace former CEO John Donahoe in October 2024. This is Hill’s only open market purchase of Nike stock during his tenure atop the company.

Shares of the sports apparel maker are still down about 17% year to date.

Tasha Matsumoto

Stocks dip for third consecutive day as Santa Claus rally stalls

Traders digested the minutes from the Fed’s December meeting.

SYDNEY, AUSTRALIA - DECEMBER 20: A Kodiak bear receives a Christmas treat at Taronga Zoo on December 20, 2007 in Sydney, Australia.

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