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[Jan 26, 2026] US Pre-market: Nvidia & Tech Earnings Outlook

Jan 26: Nvidia invests $2B in CoreWeave. Q4 earnings previews for Apple, Microsoft, Meta, and Tesla. Latest analyst ratings & market news.

 

■ Nvidia (NVDA)

  • CoreWeave Investment: Nvidia is making a $2 billion equity investment in cloud infrastructure provider CoreWeave at $87.20 per share (Class A common stock).

  • Scaling AI Power: CoreWeave aims to expand its AI computing capacity to 5 gigawatts (GW) by 2030—equivalent to the output of five large nuclear power plants.

  • CEO Quote: Jensen Huang stated, "AI is entering its next frontier, triggering the largest infrastructure build-out in human history."

■ Apple (AAPL)

  • Earnings Watch (Jan 29): Expected Q4 EPS of $2.67 and revenue of $137.47B, a significant jump from the previous quarter.

  • Ad Revenue Strategy: BofA highlighted that iPhone demand remains robust. Apple confirmed it will expand developer ads in App Store search results globally by the end of March 2026 to capture the 65% of downloads that occur immediately after a search.

■ Microsoft (MSFT)

  • Earnings Watch (Jan 28): Expected EPS of $3.93 and revenue of $80.23B.

  • Analyst Views: * Guggenheim: Focus on Azure capacity constraints and Copilot adoption.

    • UBS: Maintained Buy but lowered target to $600 (from $650), noting the impact of new data centers in Atlanta and Wisconsin.

    • Stifel: Lowered target to $520 due to margin pressure from heavy AI investment.

  • F1 Sponsorship: Signed a ~$60M annual deal with the Mercedes-AMG PETRONAS F1 Team for Azure AI race simulations.

■ Meta Platforms (META)

  • Earnings Watch (Jan 28): Expected EPS of $8.19 and revenue of $58.35B.

  • Undervalued Potential: Redburn Atlantic upgraded Meta to Buy ($900 PT), stating that the market hasn't fully priced in Meta's AI monetization capabilities.

■ Tesla (TSLA)

  • Earnings Watch (Jan 28): Expected EPS of $0.45 and revenue of $24.78B. Profits are projected to drop nearly 40% YoY.

  • Autopilot Removal: Tesla stopped offering the basic free Autopilot as a standard option for new Model Y/3 orders in the US/Canada, pushing users toward the $99/month FSD subscription.

■ Starbucks (SBUX)

  • Guidance: Deutsche Bank expects 2028 EPS of $4.00 and margins up to 17%.

  • Margin Headwinds: Mizuho raised its target to $95 (Neutral) but warned of rising coffee and labor costs in North America.

■ GE Aerospace (GE)

  • Buy Opportunity: UBS ($374 PT) and RBC Capital ($355 PT) maintained Buy/Outperform ratings, viewing the recent post-earnings dip as an attractive entry point due to structural growth in engine services.

■ Applied Materials (AMAT)

  • Upgrade to Buy: Deutsche Bank ($390 PT) expects significant upside in the WFE (Wafer Fab Equipment) market for 2026–2027, noting that AMAT is currently undervalued compared to its peers.

■ United Airlines (UAL)

  • Growth Momentum: BofA raised its target to $145 (Buy), citing strong demand for premium seating and robust growth momentum despite conservative management guidance.

■ Insmed (INSM)

  • Buy Rating: Roth Capital set a $212 target after its new drug Brinsupri crushed Q4 sales estimates ($144.6M vs. $65M consensus).

■ Procter & Gamble (PG)

  • Target Hikes: JPMorgan ($165), BofA ($171), and UBS ($170) all raised targets, forecasting accelerated organic sales growth and margin improvement in 2026.

■ Merck (MRK)

  • M&A Update: Reportedly ended acquisition talks for Revolution Medicines (RVMD) after failing to agree on a price.

■ Novo Nordisk (NVO)

  • Legal News: Facing a class-action lawsuit for allegedly conspiring with Teva to delay cheaper generic versions of the diabetes drug Victoza.

■ Netflix (NFLX)

  • Regulatory Concerns: The FCC Chairman expressed concerns over a potential merger between Netflix and Warner Bros. Discovery (WBD) due to market concentration risks.

■ Johnson & Johnson (JNJ)

  • Target Hikes: Guggenheim ($240), Goldman Sachs ($250), and MS ($200) raised targets following a solid Q4 and positive 2026 guidance.

■ Charles Schwab (SCHW)

  • Target Hikes: Targets raised by Truist ($122), Barclays ($125), and UBS ($125). BofA ($94) remains cautious on their refusal to enter the sports prediction market.

■ Kinder Morgan (KMI)

  • Performance: TD Cowen raised its target to $35 after strong Q4 EBITDA in the natural gas segment.

■ Abbott (ABT)

  • Target Cuts: BTIG ($140), Mizuho ($125), and Evercore ($138) lowered targets following a Q4 revenue miss and disappointing 2026 guidance.

■ USA Rare Earth (USAR)

  • Gov Investment: The U.S. government plans an additional $1.6B investment for a 10% stake to secure national rare earth supply chains.

■ Intel (INTC)

  • Apple Potential: GF Securities expects Intel Foundry to potentially secure Apple as a customer for basic iPhone chips using the 14A process by 2028.

■ Visa (V) & Mastercard (MA)

  • Policy Analysis: Evercore noted that Trump’s 10% credit card interest rate cap will not materially hurt the fundamentals of payment networks like Visa and Mastercard.

■ IonQ (IONQ)

  • Acquisition: Announced the $1.8B acquisition of semiconductor foundry SkyWater Technologies (SKYT) to accelerate its quantum computing hardware production.

■ Newmont (NEM)

  • Gold Surge: Continuing its rally as Gold prices hit an all-time high of $5,100 per ounce.

■ Enphase Energy (ENPH)

  • Restructuring: Announced plans to cut more than 5% of its workforce to optimize costs.

■ Airline Sector (UAL, AAL, DAL, LUV)

  • Winter Storm: Facing massive cancellations (over 1,700 flights) due to severe winter storms across the U.S.

■ General Motors (GM)

  • Earnings Preview: Q4 net income is expected to grow over 10% YoY. Markets are watching if the 2025 sales momentum (+5.5%) will carry into 2026.



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