S&P 500, Dow Drop As Elevated Oil Prices Stoke Inflation Fears Ahead Of Fed Meeting Next Week — AAPL, AXP, CART, UBER In Focus
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The S&P 500 ended Friday 0.5% lower, the Nasdaq 100 was flat, and the Dow Jones Industrial Average dropped 1.2%.
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The iShares Semiconductor ETF dropped for the third straight week.
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Apple sold out its limited in-store inventory for the new iPhone Duo.
Stock Market Today, Oct. 23: SpaceX Achieves Rare Double Upgrade to Buy on AI Growth
Space Exploration Technologies (NASDAQ:SPCX), better known as SpaceX, a launch services, satellite broadband, and space infrastructure provider, closed at $147.49, up 1.89%. Premarket analyst upgrades and regular-session coverage of tower-lease talks helped keep investors focused on growth and mobile ambitions.
Trading volume reached 109.4 million shares,
Read MoreStock Market Ends Week Lower As Oil Soars; Fed Meeting, Earnings Tsunami Loom
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Read MoreTesla Stock Lags Apple Because Of ‘Communications Problem,’ Says Investor Gary Black
Tesla stock has not moved in five years because of a lack of credibility stemming from “overpromise and hyped-up expectations,” Black said.
- Black said Tesla must divulge data on how many customers keep their full self-driving (FSD) subscriptions 3-6 months after the free trial of the technology ends.
- The comment comes on the heels of Tesla confirming earlier this week that over 75% of deliveries in North America in the third quarter included a sign-up for a paid FSD subscription at the time of delivery.
Tesla Rises 4% as ARK Reiterates $4,400 Long-Term Price Target on Robotaxi Thesis; Rivian Gains 3%, Lucid Holds Steady
ARK Invest just reiterated a staggering long-term price target for Tesla while Cybercab rides expand and a potential SpaceX merger adds a wild card that neither Rivian nor Lucid can counter. Here is what is moving EV stocks right now…
Renewed conviction in a long-range robotaxi valuation is lifting Tesla shares far beyond the rest of the electric vehicle group.
The Burst
Pick and Shovel EV Play (Hint, Not Tesla)
In light of Tesla’s recent workforce reduction as sales slump, it may seem like a risky play to invest in an EV pick and shovel play but we’re eyeing Infineon, with a market cap of around $43 billion as an opportunity.
It’s a company that is best known for SiC and GaN technologies that are designed to meet rising demand in the sector as a whole.
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Read MoreThe Ivy
4 Stocks Behind Bill Gates $45 Billion Portfolio
The Bill & Melinda Gates Foundation is a philanthropic powerhouse that lists among its accomplishments the total eradication of two types of polio virus, improving agricultural outcomes in impoverished countries and delivering health services to millions worldwide.
Making these initiatives possible is a $45 billion investment portfolio that generates the money needed to fund the foundation’s efforts.
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Read MoreThe Spotlight
Will Roku Soar 9x From Here?
Roku’s most recent financial report disappointed investors. Slowing streaming growth and lower ad spending, paired with economic uncertainty, have caused Roku’s stock to plummet.
Shares are down over 66% year to date and more than 80% compared to the highs reached last year. The stock is so battered that many are staying away.