Streetbeat News

Stock Prices

FEPI

NVDA

PSI

TSM

Micron Technology Inc (NASDAQ:MU) announced a temporary reduction in DRAM supply due to an April 3 earthquake in Taiwan, affecting up to a mid-single-digit percentage of its calendar quarter supply. Despite the disruption, Micron's long-term DRAM production capacity remains unaffected. The chips are crucial for Nvidia Corp's (NASDAQ:NVDA) H200 GPUs for AI applications, with Micron seeing a surge in demand, especially from the AI sector. Taiwan Semiconductor Manufacturing Co (NYSE:TSM) also faced temporary disruptions but expects a swift recovery. Micron's stock has surged over 96% in the last 12 months, with exposure available through REX FANG & Innovation Equity Premium Income ETF (NASDAQ:FEPI) and Invesco Semiconductors ETF (NYSE:PSI).

Portfolio Pulse from Anusuya Lahiri

April 11, 2024 | 6:26 pm

MRVL

NVDA

SPRX

Nvidia has seen a significant rise, approximately 230%, driven by AI technology adoption, outpacing the S&P 500 and other semiconductor companies like Marvell Technology, which rose about 73%. Marvell, specializing in DSP and ASICs, is positioning itself in the AI market through partnerships and new technologies. The AI and semiconductor industries' growth also highlights the potential of AI-exposed ETFs like Spear Alpha ETF, which has seen a 61% increase.

Portfolio Pulse from Johnny Rice

April 11, 2024 | 6:24 pm

Walker & Dunlop, Inc. (NYSE:WD) shares fell after Wedbush analyst Jay McCanless downgraded the stock to Neutral from Outperform and lowered the price target to $95 from $130, citing concerns over a higher for longer rate environment impacting transaction volumes. The analyst also reduced EPS estimates for 2024 and 2025 due to lower transaction volume assumptions.

Portfolio Pulse from Lekha Gupta

April 11, 2024 | 6:23 pm

CLSK

CRPT

MSTR

MVPA

MicroStrategy Inc (NASDAQ:MSTR) has caused short sellers to incur losses of $1.92 billion since March, due to its significant bitcoin holdings and the stock's performance surpassing Bitcoin itself. The SEC's approval of spot bitcoin ETFs has mainstreamed cryptocurrency investments, impacting short positions against companies like Coinbase and CleanSpark, Inc (NASDAQ:CLSK), with losses of $593.50 million and $106.40 million respectively. MicroStrategy plans to further increase its bitcoin holdings, already at nearly 190,000 bitcoins by the end of 2023, by raising funds through convertible debt sales. Despite challenges, such as a 280% increase in the cost of refinancing its convertible bonds, MicroStrategy's stock has surged 390% since late 2020. Investors can also gain exposure to MicroStrategy through ETFs like First Trust SkyBridge Crypto Industry And Digital Economy ETF (NYSE:CRPT) and Advisor Managed Portfolios Miller Value Partners Appreciation ETF (NYSE:MVPA).

Portfolio Pulse from Anusuya Lahiri

April 11, 2024 | 6:19 pm

WBA

Financial analysis reveals a bearish trend in options trading for Walgreens Boots Alliance (NASDAQ:WBA), with 57% of trades showing bearish sentiment. The analysis of 14 unusual trades indicates a targeted price range of $15.0 to $50.0. The largest trades include both puts and calls, with a notable bearish sentiment in put options. Walgreens Boots Alliance, a major retail pharmacy chain in the U.S., is currently trading at $18.08, with potential signs of being oversold. The company's earnings release is anticipated in 75 days.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 6:17 pm

BTCUSD

ETHUSD

Following the last Bitcoin Halving on May 11, 2020, Ethereum (ETH) experienced a significant price surge of 1,786%, outperforming Bitcoin's (BTC) 621% increase. Ethereum's price appreciated by 110% from May to August 2020, reaching an all-time high of $4,635 in November 2021. The article also highlights Ethereum's development and its awaiting approval for a spot Ethereum ETF by the U.S. SEC, with a decision deadline of May 23, 2024.

Portfolio Pulse from Khyathi Dalal

April 11, 2024 | 6:17 pm

Morgan Stanley's stock price has declined due to reports of its wealth management division being investigated by federal regulators.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 6:17 pm

ISRG

High-rolling investors have shown a bearish stance on Intuitive Surgical (NASDAQ:ISRG) through recent options trades, with a significant volume of bearish options activity detected. The sentiment among these investors is predominantly bearish, with a notable split of 25% bullish and 75% bearish. The trading activity suggests an expected price range for ISRG between $355.0 and $410.0 over the next three months. Current market data shows ISRG's price slightly down by -0.4%, with an anticipated earnings release in 7 days. Analyst opinions on ISRG are mixed, with an average target price of $437.33, indicating potential upside.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 6:16 pm

TONUSD

Toncoin (CRYPTO: TON), a Layer-1 blockchain, has entered the top 10 most valuable cryptocurrencies by market cap, recently hitting a new all-time high of $7.63. This surge is attributed to AI collaborations and innovations, including a palm-scanning project with Human Code, and the introduction of tap-to-earn meme coins. Additionally, TON announced a $5 million incentive for AI developers and a $2.19 million airdrop for memecoin traders, leveraging its integration with Telegram's user base.

Portfolio Pulse from Murtuza Merchant

April 11, 2024 | 6:16 pm

AAPL

VGT

XLK

BofA analyst Wamsi Mohan maintains a Buy rating on Apple Inc (AAPL) with a price target of $225, highlighting the company's underestimated long-term gross margin potential. Apple's gross margins exceeded expectations at 44%, driven by a premium product mix, in-house technologies, and a focus on service revenue monetization. Mohan projects fiscal 2024 sales and EPS of $396.24 billion and $6.70, respectively. Apple's stock performance and exposure through ETFs like Vanguard Information Tech ETF (VGT) and SPDR Select Sector Fund – Technology (XLK) are also noted.

Portfolio Pulse from Anusuya Lahiri

April 11, 2024 | 6:14 pm