Apple's Coronavirus Warning, Tesla Climbs & A Strong Buy Chip Stock - Free Lunch

Benjamin Rains

On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains takes a look at Apple’s AAPL coronavirus warning. We also dive into Tesla’s TSLA continued climb and Walmart’s WMT quarterly earnings results. The episode then ends with why Applied Materials, Inc. (AMAT) is a Zacks Rank #1 (Strong Buy) stock right now.

All three major U.S. indexes fell Tuesday after Apple warned Wall Street that it wouldn’t hit its revenue targets for the current quarter. The iPhone giant cited coronavirus setbacks in China on both the production and demand side, which sent AAPL stock down, as well as chip firms such as Broadcom AVGO and Intel INTC.

Despite the broader downturn, Tesla shares surged once again Tuesday. This continues the electric vehicle maker’s stellar over the last few months. And investors seem more than okay with the fact that Tesla recently announced plans to sell $2 billion worth of new stock, as CEO Elon Musk tries to ramp up production and expand internationally. 

On the earnings front, Walmart stock popped Tuesday morning even though its Q4 earnings fell short of estimates. WMT has expanded its e-commerce and delivery offerings alongside the likes of Target TGT and others in order to meet consumer demand in the Amazon AMZN age. 

The episode then ends with why Applied Materials is a Zacks Rank #1 (Strong Buy), within a highly-ranked semiconductor equipment industry that includes The Advanced Energy Industries, Inc. AEIS and Lam Research Corporation LRCX.

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Target Corporation (TGT) : Free Stock Analysis Report, Inc. (AMZN) : Free Stock Analysis Report
Intel Corporation (INTC) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Walmart Inc. (WMT) : Free Stock Analysis Report
Lam Research Corporation (LRCX) : Free Stock Analysis Report
Tesla, Inc. (TSLA) : Free Stock Analysis Report
Advanced Energy Industries, Inc. (AEIS) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : Free Stock Analysis Report
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