My top 10 things to watch Monday, March 18

  1. Tech stocks rally early Monday, setting up the Dow, the S&P 500 and the Nasdaq for a stronger session. Especially the Nasdaq. Friday’s declines sent all three stock benchmarks down for all of last week. The Federal Reserve holds its March meeting on Tuesday and Wednesday. An uptick in inflation and stronger economic data pushes out a first interest rate hike to June at the earliest.
  2. Super Micro Computer joins the S&P 500 index Monday. Shares of the AI server maker are up 275% year to date and more than 1,000% over the past 12 months.
  3. Jensen World and are we ever ready. Founder and CEO Jensen Huang speaks at Nvidia‘s annual GTC developers conference Monday. Will this be a chance to unveil the next generation of the Blackwell B100 graphics processing unit (GPU) — performance two times the H200 and five to six times the H100. Or will Jensen’s speech be more philosophical? To me, it’s about accelerating computing meeting generative AI on a platform. Shares of Club name Nvidia are up 77% year to date after more than tripling in 2023.
  4. Apple cedes to Alphabet‘s Google the artificial intelligence engine? Apple is in talks to build Gemini into the iPhone. Alphabet CEO Sundar Pichai pays Apple 36% of its Safari revenue. Huge for Google, which has had a number of AI stumbles, most recently the Gemini photo generator creating historically inaccurate images. Alphabet shares are up roughly 5.5% on the report. Apple is up more than 1%. Both are Club names.
  5. Mizuho puts out an unbelievably bullish Club name Meta Platforms research note. The analysts see improved monetization in Reels. They also see Amazon shopping partnership. Tipping point of social media into a transaction platform? How about AI? WhatsApp tools, maybe this is where the Nvidia partnership could excel? Meta shares are up more than 1%.
  6. Memory chipmaker Micron Technology reports earnings after the closing bell Wednesday, and analysts are expecting a beat and raise. The stock is up nearly 4% in premarket. We’re more focused on details about the state of demand for AI solutions. Barclays hike price target to $120 per share from $95. In a preview note released Friday, analysts at Citi highlighted that Micron’s high bandwidth memory solution ships with Nvidia AI systems.
  7. Bank of America bumps up Club name Eaton price target to $325 per share from $320 after last week’s technology event. The analysts see an increased need for the power management solutions that Eaton provides.
  8. Morgan Stanley makes PepsiCo a top pick and takes that designation away from Club name Constellations Brands, the company behind Mexican beers Corona, Modelo and Pacifico and some wine and spirits. Constellations Brands is expected to report earnings next month.
  9. Citi raises Devon Energy price target to $55 per share from $52. This group is quietly coming back. SLB almost broke out. Something to watch. In oil and natural gas, the Club owns shares of just one company, Coterra Energy.
  10. Loop Capital raises Dick’s Sporting Goods price target to $220 per share from $150 and keeps hold rating. Barclays goes to $239 from $194 and keeps buy-equivalent overweight. Analysts are encouraged about the retailer’s recent quarterly beat and guidance raise.

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