Key Points To Watch Out For:
- Solar stocks fall after a premature end to tax credits.
- Amazon kicks off Prime Day with a projection of $12.9 billion.
- Meta strengthens its AI division with a vital hire from Apple.
SunRun (RUN), Enphase Energy (ENPH), First Solar (FSLR): Decline After Tax Credit Change
Solar stocks fell in premarket trading following the White House’s decision to end clean energy tax credits earlier than expected. The move caught the market off guard and weighed heavily on shares of SunRun, Enphase Energy, and First Solar.
Amazon (AMZN): Prime Day Launches With Record Sales Forecast
Amazon launched its four-day Prime Day event with projections of record-breaking sales. Analysts forecast U.S. revenue to reach $12.9 billion, a 53% increase from 2023, highlighting continued strength in consumer demand.
Meta Platforms (META): Boosts AI Division With Apple Hire
Meta has acquired a leading artificial intelligence researcher from Apple to strengthen its newly formed “Superintelligence” division, led by Mark Zuckerberg. The move reflects Meta’s deepening investment in generative AI and advanced computing capabilities.
Samsung Electronics (005930): Warns of 50% Drop in Operating Profit
Samsung Electronics projected that its quarterly operating profit will fall over 50%, primarily due to U.S. trade restrictions and delays in AI chip shipments. The guidance reflects ongoing pressure in the global semiconductor market.
