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Apple is getting positive attention from Wedbush. According to the firm, Apple is a top stock to own right now.
“Apple represents another defensive name within this tech trade as the company’s success with its consumer-driven product portfolio remains strong, given the momentum with the iPhone 17 upgrade cycle and monster cash flow.”
After a test of $120, oil prices are now back to $88.75 and sinking.
All after President Trump forecast an end to the conflict in Iran, and after he said he was considering taking over the Strait of Hormuz.
In fact, as noted by CNBC, “Trump told CBS News in a phone conversation that ships are moving through the Strait. The president said he is ‘thinking about taking it over.’” He also indicated he thought the war would soon be over. And he may also consider reducing oil sanctions on Russia to help ease crude oil prices.
Despite that, futures are still pointing to a lower open.
At the moment, the S&P 500 is down 0.15%, or by 10 points. The SPDR S&P 500 ETF (SPY) is down 0.14%, or by about a dollar. The Dow is down 0.15%. or by 73, with the Nasdaq down 0.05%, or by 14 points. Gold is up by $121.35 to $5,218. Bitcoin is up $2,315 at $70 758.
Of course, everything depends on what happens next with Iran.
We also have to consider that other countries are a bit fed up with Iran, too.
France sent a nuclear-powered aircraft carrier to the Eastern Mediterranean, joining British warships after an Iranian-made drone struck a U.K. air base on Cyprus. Greece and Turkey sent forces to Cyprus. Australia is also sending missiles and a radar plane to help the UAE.
Market Movers: Bank of America reiterates buy rating on Nvidia
While most of the world is in a state of chaos, we have to remember there’s always an opportunity. Look at Nvidia, for example. Bank of America just reiterated a buy rating on the tech gain, saying it’s bullish heading into Nvidia’s GTC conference on March 16.
Analysts at Wolfe just reiterated an outperform rating on Amazon. The firm, which raised its price target to $255 from $250, says AMZN is benefiting from accelerating AWS growth and strong retail growth with margin expansion.
Analysts at B. Riley also initiated a buy rating on Strategy, noting that, “Beyond the attractive dividend yields, we believe that investors in both common and preferred securities benefit from exposure to the potential long-term appreciation of the underlying BTC holdings, a value creation mechanism that MSTR has demonstrated over six years of BTC accumulation.”
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