Latest news with #JustinPost
Yahoo
3 days ago
- Business
- Yahoo
Meta Just Boosted Its Stake in Ray-Ban's Parent—Analysts See AI Potential
Meta Platforms, Inc. (NASDAQ:) is one of the . On July 9, BofA Securities analyst Justin Post raised the price target on the stock to $765.00 (from $690.00) while keeping a 'Buy' rating. The rating affirmation followed reports that the AI giant has acquired almost 3% stake in its AI-eyewear partner EssilorLuxottica, which is the parent company of Ray-Ban and Oakley. The investment reflects a deepening and longer-term partnership to develop smart glasses, as per the analysts. The reports further suggest that Meta may have the option to increase its stake in the eyewear company to 5% in the future. According to the firm, Meta's latest investment reflects a particular focus on smart glasses in Meta's hardware and AI wearable strategy, whereas its VR goggles are likely to underperform expectations. While we acknowledge the potential of META as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Meta Just Boosted Its Stake in Ray-Ban's Parent—Analysts See AI Potential
Meta Platforms, Inc. (NASDAQ:) is one of the . On July 9, BofA Securities analyst Justin Post raised the price target on the stock to $765.00 (from $690.00) while keeping a 'Buy' rating. The rating affirmation followed reports that the AI giant has acquired almost 3% stake in its AI-eyewear partner EssilorLuxottica, which is the parent company of Ray-Ban and Oakley. The investment reflects a deepening and longer-term partnership to develop smart glasses, as per the analysts. The reports further suggest that Meta may have the option to increase its stake in the eyewear company to 5% in the future. According to the firm, Meta's latest investment reflects a particular focus on smart glasses in Meta's hardware and AI wearable strategy, whereas its VR goggles are likely to underperform expectations. While we acknowledge the potential of META as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Automotive
- Yahoo
Uber stock is up more than 60% YTD as it leans into AV partnerships
If you can't beat them, join them. That, it seems, is a key part of the strategy for Uber Technologies (UBER) as the company faces a burgeoning roster of competitors in the autonomous vehicle (AV) taxi space. Despite the specter of competition from the likes of Tesla (TSLA), GM (GM), and new entrant Amazon (AMZN), Uber's stock price has soared more than 60% from the start of this year to a new all-time high. This comes at a time when the ridesharing giant is joining forces with others in the AV space. Investors are apparently pleased. Case in point: On Monday, Alphabet's (GOOG) Waymo, partnered with Uber since 2023 and considered by analysts to be one of Uber's most crucial partners, announced an expansion into Philadelphia. Uber's stock traded up on the news. The following day, Bank of America (BAC) increased its price target for Uber from $97 to $115. "[Uber] is 100% focused on the partnership model," Bank of America analyst Justin Post told Yahoo Finance. "That seems to be part of the multiple expansions for the stock." The stock price has also been buoyed by several recent developments that have helped the company keep up positive momentum throughout the first half of the year. Fundamentals suggest that Uber's popularity is continuing to grow. Bloomberg Second Measure data, which tracks consumer purchases, indicates that bookings accelerated by some 1.4% in the second quarter compared to Q1. Growth in Uber's overall "Mobility" division, which covers ride-hailing, and its "Delivery" division accelerated by 1.5% and 0.9%, respectively. The average price users are paying per ride was also up, approximately 8.4% in Q2, compared to the same quarter last year, according to the Bloomberg data. One potential wrinkle: Uber is currently facing a lawsuit from the US Federal Trade Commission, which alleges that the company engaged in deceptive billing practices including charging users for its Uber One subscription without their consent. The passage of President Trump's "One Big Beautiful Bill" legislation package may also provide a boost to Uber. Given that the "no tax on tips" provision in the bill applies to independent contractors as well as employees, Bank of America analysts predicted in a recent research note that drivers at ridesharing companies like Uber and Lyft (LYFT) could see as much as a 2.5% increase in their pay. "It does make working for Uber a little bit more financially attractive," Post said, "and if that's the case, you have better driver supply and that's good for Uber's quality of service levels." Uber is also likely to benefit from a deal made by one of its partners, according to the Bank of America note. Nigerian startup AV fleet manager Moove, which is backed by Uber and which Bank of America described as "one of Uber's most critical fleet management partners," is set to raise $1.2 billion to finance the deployment of an AV fleet in partnership with Waymo, according to Bloomberg. It's unclear how exactly those vehicles might be deployed in concert with Uber's current offerings, but the news that Uber is looking to increase its partnership with Waymo, which has already seen expansions in Austin and Atlanta, has been well-received by the market. "It's a lot of individual markets right now that people are extrapolating to bigger picture, but you want to have Uber have success with their AV partners," Post said. "That's what's key for the next six to 12 months.' Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
08-07-2025
- Business
- CNBC
Amazon's Prime Day plus Q2 earnings season put consumers in the spotlight
The U.S. consumer could soon jump to the front of the line of Wall Street's worries, with Amazon 's Prime Day sales and companies' second-quarter corporate earnings season delivering plenty of data to sort through. The dominant e-commerce platform's annual sale began on Tuesday. Bank of America analyst Justin Post estimated that this Prime Day could generate $21.4 billion in gross merchandise sales volume across all 26 countries that are participating. That is up about 60% year over year, according to Post, but the 2025 Prime Day event will last four days — twice as long as the 2024 version. That extended window means that comparing year-over-year data could be difficult, especially early this week, but sales coming in below estimates could set off alarm bells. Shares of Amazon were down nearly 2% on Tuesday. AMZN 1D mountain Amazon's stock was lower on Tuesday. Prime Day is not necessarily a representative test of U.S. consumer spending, but the promotion — and competing sales from rival retailers such as Walmart , Target and Best Buy — comes at a time when that part of the economy may be starting to slow. Consumer spending accounts for some 70% of all U.S. economic activity. Tariff impacts could play a role in any deceleration here, as there is some evidence that consumers pulled forward their spending earlier this year to avoid extra costs. Trade complications aside, other data is showing that wallets are stretched thin. Consumer spending fell slightly in May, according to the Bureau of Economic Analysis , while measures of disposable income were also down year over year. That weakness will be reflected in the second-quarter earnings reports from companies, which begin in earnest next week. Andrew Smith, chief investment strategist at Delos Capital Advisors, said he still sees the U.S. as being in a cyclical bull market, but warned that the second-quarter reports will be "one of the most important earnings seasons we've had in a while." "We've seen kind of a slowdown in retail demand. Even if we net out the net immigration aspect, households are not spending as much. So what does that really mean for the economy? We're going to get a lot of news starting next week," Smith said. Some of the corporate reports next week that could shine a light on the consumer include those from Pepsico , on July 17, and American Express , on July 18. — CNBC's Michael Bloom contributed reporting.
Mint
07-07-2025
- Business
- Mint
Amazon Prime Day is here. What to expect.
Amazon Prime Day is back—and it's bigger than ever. For the first time since its inception a decade ago, the members-only Prime event is scheduled to run for four days across 20 countries, instead of the typical two days. The extended Prime Day could generate more than $21 billion in gross merchandise value, growing 60% from last year, estimated Justin Post, an analyst at BofA Securities. 'Amazon's 2025 summer Prime Day is poised to be its largest ever, with the potential to deliver record-breaking sales, reinforce its competitive moat, and boost both retail and advertising revenues," wrote Ivan Feinseth, chief market strategist of Tigress Financial Intelligence. Last year's Prime Day broke records too, Amazon said at the time, notching a new high for both sales and number of items sold. But it isn't just Amazon. Although the e-commerce giant pioneered the midsummer shopping event back in 2015, mid-July sales have become as much of a staple as Black Friday across the sector. This year, Target's Circle Week runs from July 6 through the 12th and Walmart's deals from July 8 through the 13th. The deals will provide a big boost to the digital economy. From July 8 to July 11, U.S. retailers are expected to drive a record $23.8 billion in online spend, up 28.4% year over year, according to estimates from Adobe analytics released Monday. This is equivalent to two Black Fridays, which drove $10.8 billion in online spend in 2024, Adobe said. The firm expects discounts will remain at 'historically high levels" across all retailers, ranging from 10% to 24% off an item's listed price. Those discounts should prompt shoppers to buy pricier items that they may have been holding off on until now, Adobe forecasts. Apparel, electronics, televisions, and appliances will see the best deals this week, Adobe projects. Indeed, Amazon already gave shoppers a sneak peek of what they can expect, including up to 50% off on Levi-Strauss apparel and Zappos shoes; up to 40% off on televisions, vacuums, Anker speakers, Samsung Chromebooks and tablets, and premium cosmetics; and up to 30% off on toys, fragrances, and Away suitcases. The company is also introducing 'Today's Big Deals," which are themed daily price drops exclusive to members. The special offers will launch daily at midnight Pacific time and will be available until supplies last, Amazon said. Target and Walmart aren't falling behind. Target is focusing on back-to-school prep, offering Target Circle members 30% off on select apparel, uniforms, backpacks and school supplies, as well as deals on groceries and personal care items. Walmart is also boasting sales on back to school, as well as discounts on electronics, such as knocking off $100 from a Samsung computer monitor. The deals will be available for all Walmart customers, but Walmart+ members get access a day early. And for the first time, Walmart is offering its deals both in stores and online, the company said. Yet even though Amazon's competitors are putting up a good fight, the company will still come out ahead. Prime Day isn't simply a big driver of sales—it also increases Prime membership sign-ups, wrote Brent Thill, an analyst at Jefferies. In 2024, a record-breaking number of customers signed up for Prime in the three weeks leading up to Prime Day, with millions of new members worldwide. The Amazon Prime membership is a major loyalty driver for the retailer, Thill said. A recent Jefferies consumer survey found that 73% of respondents report having a Prime membership—far above 26% for Walmart+ and 22% for Target Circle. Most of those respondents said they intended to keep their memberships, which could present important upside for Amazon, given that research suggests that members of loyalty programs often make more frequent or larger purchases than non-loyalty members. Amazon may also get an extra boost from recently rolled out AI initiatives. This Prime Day, customers can ask Amazon's AI shopping assistant, Rufus, specific questions about timing and tailored deal recommendations; use AI-powered shopping guides to refine searches; and ask Alexa+, Amazon's AI personal assistant, to track prices and notify them when they drop. And that isn't counting any web-traffic benefits Amazon could get from third-party AI chat services and browsers. Adobe expects traffic from generative AI sources to increase by 3,200% year over year across all retailers. Web traffic from AI chatbots is still dwarfed by more traditional search methods, including going to web browsers or through email marketing, Adobe acknowledged, but it's becoming more ingrained in the consumer shopping pattern. In a recent survey of 5,000 U.S. consumers, 55% said they used generative AI for conducting shopping research, 47% said they used it for product recommendations, and 43% said it helped them seek out deals. Historically, Amazon shares have gotten a slight lift following Prime Day, gaining an average of 1.11% the week after the event ends and 3.29% the month after, according to Dow Jones Market Data. The stock could use the boost, no matter how small. Shares are up 1.8% this year as of Thursday's close, underperforming the S&P 500's 6.8% gain and the tech-heavy Nasdaq Composite's 6.7% increase. Saddle up, deal-hunters—we're in for a long week. Maybe investors should be preparing, too, in case the chance pops up to snap up Amazon stock. It isn't every day you get a potential bargain on a retail giant. Write to Sabrina Escobar at
