Apple, Intel and Nucor drive Thursday market focus

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Apple, Intel and Nucor drive market focus

Highlights

Apple considers raising iPhone Pro prices by about $270 due to higher memory costs, potentially impacting wireless carrier promotions and consumer demand.
Intel shares surge after Donald Trump claims Apple agreed to collaborate with Intel on US chip design and manufacturing, boosting attention on domestic semiconductor momentum.
Nucor projects Q2 earnings of $4.50–$4.60 per share, exceeding FactSet consensus of $4.21, citing AI-driven construction demand and firmer selling prices.

Corporate moves shaping Thursday trading

As reported by CNBC, Thursday's market focus centers on several company-specific developments that are moving sentiment across technology, industrials and media stocks.

Apple plans to raise device prices because of higher memory costs, with Chief Executive Tim Cook telling The Wall Street Journal that the increase is under consideration. Research cited by the Journal indicates that protecting margins on the next iPhone Pro model may require a price increase of about $270, a move that could test whether wireless carriers continue to offer promotions that soften the impact for consumers.

Intel is surging after President Donald Trump wrote on Truth Social that Apple has agreed to work with Intel to design and build its chips in America. Specific details remain unconfirmed, but the comments are adding momentum to a stock already drawing attention from investors focused on domestic semiconductor manufacturing and stronger CPU demand.

Nucor is also gaining attention after projecting second-quarter earnings of $4.50 to $4.60 per share, above a FactSet consensus estimate of $4.21. The steelmaker notes a non-cash investment benefit, but the forecast still points to solid operating conditions supported by AI-related construction demand, manufacturing reshoring and firmer selling prices.

Analyst calls highlight AI, finance and consumer risks

Brokerage actions are reinforcing investor interest in AI infrastructure names. KeyBanc raises its price target on Marvell to $385 from $260 and keeps a buy rating after meetings with management, citing stronger optimism about the company's opportunity in scale-up networking within server racks.

Jefferies starts coverage of Iren with a buy rating and a $79 price target, pointing to its computing agreement with Microsoft and partnership with Nvidia. The firm also highlights the strategic value of owning both land and data centers as demand for AI computing remains strong.

Elsewhere, Citi resumes coverage of Costco with a hold rating and a $1,020 price target, arguing the stock's risk-reward profile is balanced despite the retailer's long-term market share gains. UBS downgrades Jefferies to hold from buy ahead of earnings next week, saying much of the positive outlook is already reflected in the shares even as capital markets activity stays robust.

In energy and media, Stifel lifts its target on SLB to $64 from $61 after an investor day focused on digital technology, underscoring the company's effort to position itself as a more technology-driven growth business. Citizens, meanwhile, says Netflix may need another price increase next year to meet Wall Street's 2027 revenue expectations, a view that limits upside in the stock after the streamer already raised prices in March.

In our earlier article on Intel’s rally tied to a potential Apple partnership, we noted that INTC jumped after comments suggesting Apple could work with Intel on developing and manufacturing chips in the U.S. We also stressed that neither company had confirmed deal terms, meaning the move was driven largely by expectations—and that the stock could be vulnerable to a pullback if the partnership fails to materialize or details disappoint.

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