WS #14976
Rising Treasury yields and high oil prices are dragging down tech growth stocks, with AMD falling nearly 3% in premarket trading. However, within the sector, Meta is outperforming Apple in the spatial computing narrative by launching its $1,299 VR glasses, while Apple scrapped plans for a lighter Vision Pro. This suggests Meta is capturing market share in consumer VR, whereas Apple's product cycle appears to be lagging in this specific category. Analyst activity is mixed, with BTIG raising its price target for Palo Alto Networks to $425, maintaining a Buy rating. In contrast, Raymond James downgraded RLJ Lodging Trust from Outperform to Market Perform. These moves reflect divergent views on cybersecurity growth and hospitality sector recovery.
Tech Selloff and Meta vs Apple
Rising Treasury yields and high oil prices are dragging down tech growth stocks, with AMD falling nearly 3% in premarket trading. However, within the sector, Meta is outperforming Apple in the spatial computing narrative by launching its $1,299 VR glasses, while Apple scrapped plans for a lighter Vision Pro. This suggests Meta is capturing market share in consumer VR, whereas Apple's product cycle appears to be lagging in this specific category.
Analyst activity is mixed, with BTIG raising its price target for Palo Alto Networks to $425, maintaining a Buy rating. In contrast, Raymond James downgraded RLJ Lodging Trust from Outperform to Market Perform. These moves reflect divergent views on cybersecurity growth and hospitality sector recovery.