Apple stock was downgraded by Jefferies. The investment firm cited concerns over too-high expectations for the iPhones 16 and 17, and analysts said "serious" AI smartphone tech won't exist for another two to three years.
The Magnificent Seven technology stocks aren’t shining as brightly as they once did, but there is plenty of time for them to make a comeback by year-end. The seven stocks—Apple, Amazon.com Meta Platforms Microsoft Alphabet Tesla, and Nvidia—provided much of the fuel for the market’s jump early this year. Investors excited by the potential for huge gains linked to generative artificial intelligence rushed to buy.
According to the average brokerage recommendation (ABR), one should invest in Microsoft (MSFT). It is debatable whether this highly sought-after metric is effective because Wall Street analysts' recommendations tend to be overly optimistic. Would it be worth investing in the stock?