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The sell-off in chip stocks on supply worries is overshadowing reasons to buy them, says Bank of America (SOX, AMAT, KLAC, LRCX, NVMI, TER, ASML, COMPX, NDX, INX, DJIA, RUI)

2 days ago   |   By Business Insider

Summary List Placement Semiconductor stocks have been yanked lower recently on worries about a shortage of chips worldwide but likely annual growth in auto production and in smartphone shipments are among the reasons Bank of America said it still sees buying opportunities in the space.
A shortage of chips, largely stemming from production shutdowns and business restrictions resulting from the COVID-19 pandemic, has affected a wide range of companies, including Ford Motor which has said some of its factory work will be interrupted.
"To be sure, there are spot shortages in areas such as...
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Coinbase could jump 11% this year as cryptocurrency trading volume accelerates, says Mizuho

Coinbase could jump 11% this year as cryptocurrency trading volume accelerates, says Mizuho

2 days ago   |   By Business Insider

Summary List Placement Coinbase's stock could be helped by a continued acceleration in cryptocurrency trading volume, according to Mizuho's Dan Dolev.
The managing director and his associate Ryan Coyne upgraded their price target for Coinbase to $315 from $285. That's about an 11% gain from current levels as of Tuesday afternoon.
The analysts explained that "crypto exuberance" drove elevated trading volumes on Coinbase that nearly matched the record first quarter during the month of April. If that trend continues, they expect second quarter revenues to top consensus estimates by as much as...
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Roblox could jump 25% and offers investors exposure to multiple growth 'megatrends,' JP Morgan says

Roblox could jump 25% and offers investors exposure to multiple growth 'megatrends,' JP Morgan says

2 days ago   |   By Business Insider

Summary List Placement Roblox stock could jump 25% and offers investors "exposure to multiple growth megatrends, including mobile gaming, social networking, user-generated content, and digital identity," JP Morgan analysts wrote on Monday.
In a note to clients, analysts led by Alexia S. Quadrani said that Roblox is set to outperform due to its involvement in key megatrends, its rising user base, and increasing average revenue per user.
The analysts initiated coverage of the online gaming platform with an "overweight" rating and an $85 price target in their note.
The price target implies a...
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Coinbase could jump 13% this year as cryptocurrency trading volume accelerates, says Mizuho

Coinbase could jump 13% this year as cryptocurrency trading volume accelerates, says Mizuho

2 days ago   |   By Business Insider

Summary List Placement Coinbase's stock could be helped by a continued acceleration in cryptocurrency trading volume, according to Mizuho's Dan Dolev.
The managing director and his associate Ryan Coyne upgraded their price target for Coinbase to $315 from $285. That's about an 11% gain from current levels as of Tuesday afternoon.
The analysts explained that "crypto exuberance" drove elevated trading volumes on Coinbase that nearly matched the record first quarter during the month of April. If that trend continues, they expect second quarter revenues to top consensus estimates by as much as...
Read more ...

 

Stocks are nowhere near dot-com bubble levels and earnings justify current valuations, Deutsche Bank's US stock chief says

Stocks are nowhere near dot-com bubble levels and earnings justify current valuations, Deutsche Bank's US stock chief says

2 days ago   |   By Business Insider

Traders work on the main trading floor of the New York Stock Exchange March 21, 2007.
Brendan McDermid/Reuters
Stock valuations are not near dot-com bubble era levels, said Deutsche Bank's chief US equity strategist.
In a Tuesday webinar Binky Chadha said valuations are supported by strong earnings.
He also reiterated his view that the S&P 500 is due for a 10% pullback as economic growth peaks.
Sign up here for our daily newsletter, 10 Things Before the Opening Bell .
Stock valuations today are nowhere near levels seen in the late 1990s dot-com era, said Deutsche Bank's Binky Chadha.
In a...
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Stocks are nowhere near dot-com bubble levels and earnings justify current valuations, Deutsche Bank's US stock chief says

Stocks are nowhere near dot-com bubble levels and earnings justify current valuations, Deutsche Bank's US stock chief says

2 days ago   |   By Business Insider

Summary List Placement Stock valuations today are nowhere near levels seen in the late 1990s dot-com era, said Deutsche Bank's Binky Chadha.
In a Tuesday webinar, the bank's chief US equity strategist said that stock valuations are "unambiguously high" on multiple metrics, but levels seem justified given where we are in the recovery cycle.
Chadha said his clients ask whether equities are in a bubble almost "every day." Investor fears that the stock market is in bubble have grown as the S&P 500 continues to make new records, though many strategists have tried to quell those...
Read more ...

 


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Elon Musk says dogecoin might be the future of cryptocurrencies - but tells...

Elon Musk says dogecoin might be the future of cryptocurrencies - but tells fans they should still invest carefully

Summary List Placement Elon Musk has said dogecoin could ironically become the future of cryptocurrencies, which could themselves become the future currencies of earth. Despite... Read more ...

Russia-China trade turnover jumps almost 20% since beginning of 2021

Russia-China trade turnover jumps almost 20% since beginning of 2021

The volume of trade between Russia and China has reached $40.207 billion in January-April 2021. That's 19.8% higher than it was in the same period last year, according to... Read more ...

Jack Dorsey's Square reports Q1 bitcoin revenue grew 1,000% to $3.5 billion...

Jack Dorsey's Square reports Q1 bitcoin revenue grew 1,000% to $3.5 billion - and is the 3rd-largest corporate holder of the cryptocurrency

Summary List Placement Square reported first-quarter earnings that beat analyst estimates on Thursday, powered by surging demand for bitcoin. Quarterly revenue from bitcoin... Read more ...

Blood is in the water with Cheney's likely ouster. Now Trump aides are...

Blood is in the water with Cheney's likely ouster. Now Trump aides are casting doubt on McCarthy's prospects for House speaker if the GOP wins the House in 2022

Summary List Placement Lost in the Liz Cheney leadership brawl that's consumed House Republicans this week is an even bigger battle that politicos from Washington to Mar-a-Lago... Read more ...

Corporate Counsel Awards: Liza Akins is designing her own career

Corporate Counsel Awards: Liza Akins is designing her own career

Before entering the world of corporate counsel, Liza Akins was a private practice attorney focused on construction law, primarily in litigation. “I often wished that I had an... Read more ...

Mental health startup Spill has grown from 0 to 203 clients in just over a...

Mental health startup Spill has grown from 0 to 203 clients in just over a year amid COVID-19 boom

Summary List Placement Mental health startups have seen major growth through the COVID-19 pandemic as the effects of multiple lockdowns impact the population. One such growth... Read more ...

Asian indexes rise after US rally; investors await jobs data

Asian indexes rise after US rally; investors await jobs data

TOKYO - Asian shares rose Friday on optimism about the rally on Wall Street and an economic rebound in the U.S., as investors awaited the release of jobs data. Read more ...

The Latest: Washington Gov criticized for reopening plan

The Latest: Washington Gov criticized for reopening plan

TACOMA, Wash. - Washington Gov. Jay Inslee is receiving criticism from lawmakers in his own party over his shifting economic reopening plan, with a group of Democrats from the... Read more ...

May 6th COVID-19 Vaccinations, New Cases, Hospitalizations

May 6th COVID-19 Vaccinations, New Cases, Hospitalizations

President Biden has set two vaccinations goals to achieve by July 4th: 1) 70% of the population over 18 has had at least one dose of vaccine, and 2) 160 million Americans fully... Read more ...

California fire victims see little payout from settlement

California fire victims see little payout from settlement

SAN FRANCISCO - A trust approved by a federal judge to help compensate victims of deadly California wildfires sparked by Pacific Gas & Electric equipment paid survivors just $7... Read more ...