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AAPL

BBY

Apple Inc.'s 15-inch MacBook Air with M2 chip is on sale for Black Friday at Best Buy Co Inc. for $1,399, a $300 discount from the usual price of $1,699. The deal includes a $250 flat discount and an additional $50 off for My Best Buy Plus and Total subscribers. The MacBook Air features a 15.3-inch Liquid Retina display, weighs 3.3 pounds, and is powered by the M2 chip, promising up to 18 hours of Apple TV playback or 15 hours of web browsing.

Portfolio Pulse from Rounak Jain

November 20, 2023 | 6:42 pm

ARGT

MSFT

NVDA

PARA

PENN

USO

XLE

XLK

U.S. stocks are trading higher, with major indices in the green. The U.S. dollar index has fallen to its lowest since August. Oil prices have rallied, with WTI surpassing $78 per barrel ahead of an OPEC+ meeting. The Energy Select Sector SPDR Fund (XLE) is up 0.5%. Treasury yields are flat. Tech stocks lead gains, with the Technology Select Sector SPDR Fund (XLK) up 1%. Microsoft hired former OpenAI executives, boosting its shares by 2%. Nvidia (NVDA) is up 1% before its earnings release. Citigroup (C) rose after announcing layoffs. Boeing (BA) surged 4% after an upgrade from Deutsche Bank. Paramount Global (PARA) soared 6.5% after selling Bellator MMA. PENN Entertainment (PENN) rallied 7% after an upgrade from Bank of America. The United States Oil Fund (USO) increased by 3.1%. European and emerging market ETFs saw mixed results, with ARGT up 12% after Argentina's presidential elections. Cryptocurrencies Bitcoin and Ethereum are up.

Portfolio Pulse from Piero Cingari

November 20, 2023 | 6:35 pm

ETHUSD

Ethereum (ETH) has seen a 73% increase over the past year, with a 26% rise in the past month, partly due to anticipation of a Bitcoin ETF approval. Data shows a rise in 'ETH billionaires' who hold over 32% of the supply. The top holders are exchanges and the Beacon Deposit Contract, with individual celebrities also holding significant amounts. MetaMask and Ledger are highlighted as top wallets for Ethereum storage.

Portfolio Pulse from Khyathi Dalal

November 20, 2023 | 6:16 pm

NVDA

TSM

KeyBanc analyst John Vinh maintains an Overweight rating on Nvidia Corp (NVDA) with a price target of $650, anticipating solid results and guidance above consensus. Despite export restrictions to China and supply constraints, demand for AI GPUs, especially the new L40S and H100 models, is expected to drive strong performance. Vinh predicts minimal impact from China export restrictions in the near term and estimates a potential 20% headwind if compliant GPUs for China are not performant. NVDA's FY25 Data Center revenue is projected at $82 billion, with total revenue and EPS at $96.8 billion and $20.84, respectively. NVDA shares saw a 1.04% increase to $498.10.

Portfolio Pulse from Anusuya Lahiri

November 20, 2023 | 6:04 pm

ETHUSD

On Sunday, 4,378.14 Ether (ETH) valued at $9M was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is burned. The Ethereum network currently has a 4% annual issuance rate of new Ether, expected to drop to 0.5-1% with Ethereum 2.0, potentially making ETH deflationary. The net annualized issuance rate for Ether was -3.22% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 20, 2023 | 6:00 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) has announced significant Black Friday discounts on Xbox products, including the Xbox Series S and X consoles, games, and controllers. The deals are available from Nov. 17 until the end of the month, with the Xbox Series S bundle priced at $300 and the Xbox Series X receiving a $50 discount. Xbox controllers are $10 off with free engravings on Elite Series 2 controllers, and games like 'Diablo IV' and 'Resident Evil 4 remake' are discounted by 20% to 70%. A $25 discount is also offered on the 1TB Western Digital Black C50 SSD for Xbox.

Portfolio Pulse from Franca Quarneti

November 20, 2023 | 5:56 pm

BYDDY

STLA

TSLA

Jefferies analyst Philippe Houchois suggests Tesla should cancel the Cybertruck to refocus on core strengths and simplicity. He maintains a Neutral rating on Tesla but cuts the price target from $250 to $210, citing a slow growth period for the next 12-18 months. Houchois lowers Tesla's EBIT and free cash flow estimates for 2023 and 2024, but notes positives like Model 3 refresh, easing China pressure, and potential expansion at Giga Berlin. Tesla shares were down 0.4% to $233.15.

Portfolio Pulse from Shanthi Rexaline

November 20, 2023 | 5:49 pm

AMZN

GOOG

MSFT

NVDA

Microsoft Corp (NASDAQ:MSFT) has made strategic moves to strengthen its position in artificial intelligence (AI) by hiring Sam Altman and Greg Brockman, former executives of OpenAI, after Altman's ouster as CEO of OpenAI. OpenAI, known for developing ChatGPT, experienced a culture clash leading to Altman's firing. Microsoft, a major investor in OpenAI, attempted to reinstate Altman but instead brought him and Brockman on board. This move is seen as positive for Microsoft's AI ambitions but negative for competitors like Alphabet Inc Class C (NASDAQ:GOOG) and Amazon.com, Inc. (NASDAQ:AMZN). Microsoft also announced two new AI semiconductor chips, which could impact NVIDIA Corp (NASDAQ:NVDA) as Altman had plans to start a semiconductor company to compete with NVIDIA before his firing. NVIDIA's upcoming earnings report is highly anticipated. Early trade money flows are positive for Microsoft, Meta Platforms Inc (NASDAQ:META), Tesla Inc (NASDAQ:TSLA), and Apple Inc (NASDAQ:AAPL), but negative for Alphabet and Amazon. Mixed money flows are seen in SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust Series 1 (NASDAQ:QQQ).

Portfolio Pulse from The Arora Report

November 20, 2023 | 5:43 pm

COIN

MARA

MSTR

MicroStrategy Inc (NASDAQ:MSTR) has experienced significant insider selling in November, with key executives and a director offloading shares. Despite this, MSTR stock has risen 13.96% since November 1, and analysts rate it a Buy. The company's aggressive Bitcoin accumulation strategy may be influencing its stock performance, as it holds a substantial amount of Bitcoin relative to its market cap. Other crypto-related stocks like Coinbase Global Inc. (NYSE:COIN) and Marathon Digital Holdings Inc (NYSE:MARA) have also been rallying, potentially due to optimism around a spot Bitcoin ETF.

Portfolio Pulse from Surbhi Jain

November 20, 2023 | 5:39 pm

CDIO

Cardio Diagnostics Holdings' stock is up following the announcement of a study on PrecisionCHD published in the Journal of the American Heart Association.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 5:37 pm