Crown

Wednesday

Elon

Apple

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<p class="has-drop-cap">Apple (NASDAQ: AAPL), Oracle (NYSE: ORCL), and Tesla (NASDAQ: TSLA) stocks surged on Wednesday amid growing optimism around artificial intelligence, even as they face scrutiny and challenges on various fronts.<br><br>Apple’s stock soared to a record high as it unveiled a suite of AI-powered features, reclaiming its position as the world’s most valuable company. Meanwhile, Oracle’s stock surged after announcing partnerships with OpenAI and Google (NASDAQ: GOOG) and <a href="https://tokenist.com/oracle-misses-q4-expectations-but-stock-soars-on-google-and-openai-partnerships/" rel="dofollow" class="deco-link">securing significant AI contracts despite missing some Q4 estimates</a>. <br><br>Tesla’s stock also rose on ambitious robotaxi plans and a bullish price target from ARK Invest, but faces uncertainty surrounding CEO Elon Musk’s contentious pay package.</p> 
<h3 id="apple-retakes-crown-as-world-s-most-valuable-company">Apple Retakes Crown as World’s Most Valuable Company</h3> 
<p>Apple’s stock hit a record high of $217.37, up 4.93%, after unveiling an array of AI-powered features at its <a href="https://developer.apple.com/wwdc24/" target="_blank" aria-label="Worldwide Developers Conference (WWDC) (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">Worldwide Developers Conference (WWDC)</a> earlier this week.</p> 
<p>The iPhone maker’s market capitalization reached $3.332 trillion, surpassing Microsoft (NASDAQ: MSFT) to reclaim its status as the world’s most valuable company. Analysts believe Apple’s AI initiatives, such as integrating ChatGPT into iOS, iPadOS, and macOS, could drive a significant iPhone upgrade cycle.</p> 
<p>The tech giant boasts strong financials, with a trailing <a href="https://tokenist.com/investing/p-e-ratio/" rel="dofollow" class="deco-link">P/E</a> of 30.03, a forward P/E of 26.25, and an EPS (TTM) of $6.90.</p> 
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<h3 id="oracle-s-stock-jumps-on-ai-partnerships-and-contracts">Oracle’s Stock Jumps on AI Partnerships and Contracts</h3> 
<p>Oracle’s stock price soared 11.95% to $138.68, despite missing some Q4 estimates, after the company announced partnerships with OpenAI and Google.</p> 
<p>The software giant expects strong AI demand to boost sales in fiscal 2025, having signed over $12.5 billion in AI contracts in Q4 alone. Oracle’s <a href="https://tokenist.com/investing/how-the-stock-market-works/" rel="dofollow" class="deco-link">market cap</a> reached $383.069 billion, with a trailing P/E of 32.85, a forward P/E of 19.92, and an EPS (TTM) of $3.77.</p> 
<p>The company also revealed upcoming generative AI features for its Fusion cloud applications, which will target supply chain management and human resources.</p> 
<h3 id="tesla-faces-uncertainty-amid-ambitious-price-targets-by-ark-invest">Tesla Faces Uncertainty Amid Ambitious Price Targets by ARK Invest</h3> 
<p>Tesla’s stock rose 5.59% to $180.20, driven by Cathie Wood’s ARK Invest, which set a bold <a href="https://www.ark-invest.com/articles/valuation-models/arks-tesla-price-target-2029" target="_blank" aria-label="$2,600 price target for the electric vehicle maker by 2029 (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">$2,600 price target for the electric vehicle maker by 2029</a>.</p> 
<p>ARK’s bullish outlook is based on expectations for Tesla’s yet-to-be-launched robotaxi business, which the firm predicts will account for 90% of Tesla’s value and earnings by 2029. However, some analysts see a risk of Tesla’s stock falling if CEO Elon Musk’s contentious $50 billion pay package is not approved at the annual meeting this week.</p> 
<p>Tesla’s market cap is $585.234 billion, and its trailing P/E is 44.45, its forward P/E is 69.93, and its EPS (TTM) is $3.84.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/stocks-to-watch-today-apple-oracle-and-tesla/">Stocks to Watch Today: Apple, Oracle, and Tesla</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: Apple, Oracle, and Tesla

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