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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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Saleah Blancaflor16s

US gas prices rise again, sitting at their highest levels in four years ahead of Memorial Day weekend

Just days away from Memorial Day weekend, the national average of US gas prices rose from a week earlier and sat at the highest they've been in four years.

The price is currently $4.56 a gallon, up 3 cents over last week, and $1.38 higher than this time last year, according to AAA. Today's prices are right around what customers were paying four years ago, when the price on Memorial Day was $4.61. Gas prices experienced a short-lived dip earlier this month before rising again.

Gasoline is in high demand ahead of Memorial Day weekend and the Strait of Hormuz remains closed because of the war in Iran, leaving prices elevated as more drivers hit the road. GasBuddy's Patrick De Haan predicts that gas prices could soon hit $4.80 a galloon soon amid the Strait closure.

Oil prices ticked up slightly on Thursday, with WTI sitting around $100 a barrel, after plunging on Wednesday.

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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Memorial Day Weekend Gas Prices Reach Four-Year Highs

AAA Fuel Prices

Gasoline is in high demand ahead of Memorial Day weekend and the Strait of Hormuz remains closed because of the war in Iran, leaving prices elevated as more drivers hit the road. GasBuddy's Patrick De Haan predicts that gas prices could soon hit $4.80 a galloon soon amid the Strait closure.

Oil prices ticked up slightly on Thursday, with WTI sitting around $100 a barrel, after plunging on Wednesday.

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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

What Wall Street’s saying about Nvidia’s Q1 results

A makeover beautifies the growth outlook; so does the CPU opportunity.

Jensen Huang in front of Vera Rubin at CES 2026

markets

SoftBank rallies on OpenAI and SB Energy IPO plans; its Japanese-traded stock notches best day since 2000

SoftBank shares skyrocketed in Tokyo trading, notching their biggest daily gain since 2000, boosted by news about planned IPOs at OpenAI, in which SoftBank has a sizable stake, and SoftBank’s own SB Energy unit. ADRs of SoftBank traded in the US rallied, too.

OpenAI is accelerating the timeline to its public debut, preparing to confidentially file its IPO prospectus with regulators as early as Friday, according to The Wall Street Journal. That could set the stage for a highly anticipated public listing as early as September.

SoftBank has systematically expanded its financial exposure to OpenAI, securing a highly valuable stake in the company. As of the fiscal year-end, SoftBank’s cumulative investment in OpenAI totaled $34.6 billion, with a fair value of $79.6 billion, and cumulative investment gains totaled $45 billion, according to a SoftBank filing.

For SoftBank, a successful public debut is critical to demonstrating that OpenAI can protect its market position amid intense industry pressure. Investors have grown increasingly anxious that OpenAI is losing ground to competitors like Anthropic, which is currently in talks for a funding round that could push its own valuation past that of OpenAI.

Adding to the upward momentum, SB Energy, the digital infrastructure and clean energy development firm co-owned by SoftBank and Ares Management, confirmed its own confidential draft registration filing for a major US public listing.

This multipronged IPO pipeline has boosted investors’ confidence in billionaire founder Masayoshi Son’s high-conviction AI thesis, showcasing a road map for SoftBank to transition its paper gains into potential liquidity. SoftBank’s stock is up 37% so far this year.

Maybe we should all agree to not talk about Nvidia’s stock after earnings

It’s probably making people dumber.

Nvidia conference with Jensen Huang

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Max Knoblauch6h

Nio posts better-than-expected first-quarter earnings and forecasts strong Q2 sales

Chinese EV maker Nio posted Q1 results before markets opened on Thursday, reporting earnings that beat expectations and strong sales guidance for the second quarter. Shares of the company climbed more than 4% in premarket trading.

For the first quarter, Nio reported:

Adjusted earnings of $0.00 per share, compared to the $0.05 loss per share that Wall Street analysts polled by FactSet had expected.
$3.7 billion in revenue, compared to the $3.74 billion consensus estimate.
83,465 vehicle deliveries, slightly exceeding its own forecast of between 80,000 and 83,000.

For Q2, Nio guided for deliveries of between 110,000 and 115,000, compared to estimates of 113,807. The company expects second-quarter revenues to come in between $4.75 billion and $4.99 billion, while analysts are forecasting $4.6 billion.

The Chinese auto industry has seen a surge in exports so far this year, as companies make efforts to combat declining domestic sales. Nio, which is still relatively new to overseas operations, has plans to ship “several thousand” EVs overseas this year.

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