It’s about time to write off high-growth tech stocks, Goldman Sachs warned, saying the double whammy of sky-high valuation and elevated regulation is becoming a “hazard” to the group. Technology stocks have been investors’ darlings for years as the appetite for superior growth shows no signs of slowing. Software names especially are big hits this
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A Broadcom chip in an Apple iPhone. Brent Lewin | Bloomberg | Getty Images The financial fallout from the U.S. China trade war is beginning. But a day after after chipmaker Broadcom reported disappointing earnings, Wall Street analysts are urging investors to stay calm. The report sent chip stocks plummeting after the company cut its
Facebook’s founder and CEO Mark Zuckerberg speaks to participants during the Viva Technologie show at Parc des Expositions Porte de Versailles on May 24, 2018 in Paris, France. Chesnot | Getty Images RBC Capital Markets believes that Facebook has a “crypto opportunity,” explaining in a note to investors the firm’s high expectation for the tech giant’s coming
Picture of a cup of coffee at a Luckin Coffee location. Fred Dufour | AFP | Getty Images Beijing-based coffee chain Luckin Coffee is catching the eye of Wall Street analysts who are hoping the newly public company’s technology-driven business model will fuel growth in an underpenetrated coffee market in China. Luckin, which is the
Elon Musk Joe Skipper | Reuters One of Wall Street’s most optimistic Tesla analysts is sticking with his call for the stock to double over the next 12 months, telling clients that recent negative sentiment is “decoupled from reality.” The market fails to understand Tesla’s “technological and cost advantage” and remains on track for solid
Options traders are flooding into the Magic Kingdom after a bullish call from Morgan Stanley forecasting blockbuster profits from upcoming streaming service Disney+. The note predicts that Disney‘s over-the-top service will boast 130 million or so subscribers by 2024. That would represent prolific year-over-year growth for a streaming platform chasing the current leader, Netflix, which
Evercore ISI Chairman Ed Hyman sees an “insurance” rate cut in July and more to follow as the inverted yield curve is making him “quite uncomfortable.” “I think they are going to ease in July and ease a couple of more times to try and get yield curve positive again and also put some insurance
Broadcom CEO Hock Tan is paying the price for misjudging President Donald Trump‘s resolve to “bring the Chinese to their knees,” CNBC’s Jim Cramer said Friday. Trump feels he has to “sacrifice Broadcom on the alter of Huawei” to humble China in trade negotiations, Cramer argued. Last year, Broadcom received about $900 million in revenue
Actor/producer Brad Pitt accepts the PGA Visionary Award during the 26th Annual Producers Guild Of America Awards last January in Los Angeles. Getty Images Hollywood star Brad Pitt, Steve Job’s widow Laurene Powell Jobs and UK-based stock-picker Neil Woodford are all reportedly investing in a little known “cold fusion company,” the Financial Times said on
Amid ongoing controversy over its use of its users private information, Facebook has been kicked out of an index tracking companies that abide behind socially responsible practices. S&P Dow Jones Indices announced Thursday that the social network no longer will be part of the S&P 500 ESG Index. The gauge follows companies that S&P says
Semiconductor stocks are going to fall as chipmakers start to cut their earnings forecasts for the second half of the year, AlphaOne Capital Partners’ Dan Niles said on Thursday. Niles started shorting semiconductor stocks this week and sold out of all is long semiconductor positions, in which he previously owned Qualcomm and Lumentum Holdings, he told CNBC’s
Lululemon worked up a sweat Thursday, rallying more than 5% after topping quarterly estimates and upping its outlook. But, another athleisure stock is besting Lululemon and the rest of the competition: Under Armour. The workout gear stock has surged 49% this year, tracking for its best annual performance in five years. It’s about to sprint
Beyond Meat CEO Ethan Brown (C) celebrates with guests after ringing the opening bell at Nasdaq MarketSite, May 2, 2019 in New York City. Drew Angerer | Getty Images Beyond Meat‘s stock is proving resilient to negativity on Wall Street. Shares of the alternative meat company soared more than 17% on Wednesday, even after being
Howard Marks, Co-Chairman, Oaktree Capital. David A. Grogan | CNBC Billionaire investor and Oaktree Capital Management Co-Chairman Howard Marks is worried to hear investors say “this time it’s different” or openly wonder if the historic bull market and economic success “can only get better forever.” In a 12-page letter sent to Oaktree clients on Wednesday,
Kevin Durant #35 of the Golden State Warriors reacts after sustaining an injury during the second quarter against the Toronto Raptors during Game Five of the 2019 NBA Finals at Scotiabank Arena on June 10, 2019 in Toronto, Canada. Gregory Shamus | Getty Images Basketball superstar Kevin Durant’s injury may have reshaped the outlook of
David M. Solomon, Chairman and CEO of Goldman Sachs, speaks during the Milken Institute’s 22nd annual Global Conference in Beverly Hills, April 29, 2019 Mike Blake | Reuters President Donald Trump’s use of tariffs as part of a political agenda is a potential drag on markets, according to Goldman Sachs CEO David Solomon. “The issue
Mary Meeker presents her annual Internet Trends Report at Code 2018. Asa Mathat | Vox Media The most highly anticipated report of the year for tech investors has arrived. Mary Meeker, a widely followed technology backer and general partner at the venture firm Bond Capital, published her 333-slide “Future of the Internet” report Tuesday ahead
Close-up of vertical sign with logos for ride-hailing companies Uber and Lyft. Smith Collection | Gado | Getty Images Susquehanna bumped its rating of Lyft’s stock to positive from neutral on Tuesday, as the firm says Lyft is “a pure-play on US ridesharing” that should benefit from less buzz around Uber. “With the US rideshare
Ethan Brown, founder and chief executive officer of Beyond Meat Inc., center, rings the opening bell during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Thursday, May 2, 2019. Michael Nagle | Bloomberg | Getty Images Beyond Meat‘s stock continues to skyrocket and even the most optimistic Wall
In this May 2, 2019, file photo Beyond Meat CEO Ethan Brown, center, watches as his company’s stock begins to trade following its IPO at Nasdaq in New York. Mark Lennihan | AP Short-sellers lost $398 million betting against Beyond Meat through Friday, according to research S3 Partners. And those losses got bigger on Monday as the