Yahoo Finance is tracking Apple, Microsoft, General Electric and Advanced Micro Devices in intraday trading on Monday.
Apple (AAPL) – Mizuho downgraded the tech giant to neutral from buy and lowered its price target on the stock to $150 from $160. This marks Apple’s second downgrade in a week. Despite a potentially strong upcoming iPhone cycle, Mizuho warned of limited upside to the stock because it thinks enthusiasm for the iPhone 8 is already priced in. Apple’s stock has climbed nearly 47% over the past year.
Microsoft (MSFT) – The tech giant has announced its next gaming console. Microsoft is planning to role out the Xbox One X, its new 4K console, on November 7 for $499. The company says the Xbox One X is its smallest Xbox yet. The stock is up about 10.6% since January 1.
General Electric (GE) – Shares are moving higher after the company announced longtime CEO Jeffrey Immelt will be stepping down after 16 years at the helm. John Flannery, who is currently head of the company’s health care unit, will replace Immelt as CEO on August 1 and as chairman on December 31. The stock is up about 3.5% as of 11 a.m. ET on Monday.
Advanced Micro Devices (AMD) – Goldman Sachs (GS) reiterated its sell rating and $10.60 price target on the stock following AMD’s rally last week, when shares jumped on news that it was selling out of graphics cards due to demand from cryptocurrency miners. Shares of Advanced Micro Devices jumped 12.66% from June 5-9.
For more on Monday’s big stock movers, check out the Final Round, live at 4 p.m. ET, right here on Yahoo Finance.