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<ul class="summary-list"><li>Apple is set to report fiscal fourth-quarter earnings results after the market close on Wednesday.</li><li>Wall Street anticipates $94.36 billion in revenue and adjusted earnings per share of $1.60.</li></ul>All eyes are on <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/AAPL-stock">Apple</a>, the world's largest company by market value, as it prepares to report its fiscal fourth-quarter results after the market closes on Wednesday.The quarter, which ended September 30, will encapsulate two weeks of Apple's iPhone 16 lineup sales.The stock was trading at $230.40 at 1:50 p.m. ET, down by about 1.4%. Here's what Wall Street expects Apple to report for its fiscal fourth-quarter, according to Bloomberg data:<ul><li>Revenue: $94.36 billion</li><li>Adjusted earnings per share: $1.60</li></ul>Wall Street will largely be looking to the company's guidance for the upcoming holiday months, which has historically represented Apple's strongest quarter.Top of mind for analysts who cover the stock is whether Apple's AI efforts will pay off and fuel demand for the iPhone 16, or if consumers are taking a wait-and-see approach.The company <a target="_blank" class="" href="https://www.businessinsider.com/apple-intelligence-features-tested-on-iphone-16-pro-max-2024-10">released its first round of "Apple Intelligence" features</a> this week, about six weeks after the release of the iPhone 16. Meanwhile, Apple's core AI features aren't expected to be released for the iPhone until early next year.Here's what Wall Street is looking for in Apple's upcoming earnings report.<h3 id="ed1099ce-654e-4938-929c-540867493d06">Bank of America: 'Look past the iPhone 16 noise'</h3>With some <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/apple-stock-price-tumbles-analyst-says-iphone-16-orders-slashed-2024-10">conflicting views on Wall Street</a> about iPhone 16 demand in recent weeks, Bank of America said investors should "look past the iPhone 16 noise to impact of Apple Intelligence.""Contrary to every cycle where all the hardware/software functionality is more or less static through the course of the cycle, we view the cycle as more dynamic with more material software updates that increases the value to the user," <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/bac-stock">Bank of America</a> analyst Wasmi Mohan said in a note last week.Mohan said iPhone demand to pick up over the next few months as Apple's AI features become more robust and expects the company to sell 80 million iPhone units during the holiday season.Mohan is encouraged by a slightly higher average selling price for iPhones as consumers overwhelmingly continue to gravitate towards the more expensive Pro models.Bank of America rates Apple at "Buy" with a $256 price target.<h3 id="401e4f18-6633-40cf-afc8-ee3bb450bbd5">JPMorgan: Expect a beat on results but a miss on guidance</h3>JPMorgan expects Apple to report a strong fourth-quarter earnings report that will likely beat revenue and profit estimates but that it will also disappoint with weaker-than-expected guidance for the holiday quarter."Sell-through for iPhone 16 series started off slower than iPhone 15, and while momentum has improved in recent weeks, the magnitude of the improvement is still putting volumes modestly below last year," <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a> analyst Samik Chatterjee said in a Monday note.Like many analysts on Wall Street, Chatterjee is looking for evidence that AI features will drive a bump in iPhone sales.JPMorgan rates Apple at "Overweight" with a $265 price target.<h3 id="8cc56af8-9576-4342-a49a-9c505626a6a6">Wedbush: Apple will be a $4 trillion company next year</h3>Wedbush analyst Dan Ives isn't budging from him bullish view on Apple heading into the company's financial results. He argues that the iPhone is on the verge of a supercycle as consumers upgrade their phones to get access to Apple Intelligence features."We expect a strong iPhone performance for the September quarter and expect a relatively bullish December iPhone demand commentary from Cook &amp; Co. despite many of the bears recently yelling fire in a crowded theater on the strength of iPhone 16 sales," Ives said in a note on Sunday.Ives says that bearish views on Apple fail to appreciate its installed base of 1.5 billion iPhones that will eventually need to be replaced, as well as the growing Services business that helps monetize the massive user base, and the potential for Apple to be the gatekeeper of AI technologies to a large group of people.Wedbush rates Apple at "Outperform" with a $300 price target.<h3 id="e4503694-e0ad-46c2-9f27-9244aa504759">Goldman Sachs: 'We see upside to consensus'</h3>Goldman Sachs said it sees "upside to consensus revenue and EPS driven by outperformance in iPhone and Services" in a note last week.Goldman analyst Michael Ng expects the company to report $1.61 in earnings per share and $94.5 billion in revenue, which would represent year-over-year growth of 6%.Like other analysts, Ng is focused on the impact of AI and all of the software features Apple is set to release in the next few months."Although Apple Intelligence has yet to be a demand driver, we're encouraged by the rollout of Apple Intelligence features with iOS 18.1 (Week of October 28, includes Writing Tools, notification summaries, Clean Up in Photos), iOS 18.2 (currently in beta for est. December release, includes Genmoji, Image Playground, ChatGPT), and iOS 18.4 (est. March 2025 release, more advanced Siri, personalization, on-screen awareness)," Ng said.<a target="_blank" class="" href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> rates Apple at "Buy" with a $275 price target.

Wall Street is eager to see some sign that AI is driving iPhone demand in Apple's latest earnings report

<ul class="summary-list"><li>US electric demand is rising, fueled by everything from data centers to electrified transportation, says BofA.</li><li>By 2035, as much as 300 gigawatts of effective capacity could be required to power the nation.</li></ul>With resources flooding into infrastructure and tech, US electric demand is charging up. As the economy becomes more power-hungry, Bank of America considers momentum energized for five key utility stocks."There is now evidence that demand growth has returned, driven by the re-shoring of industry, the development of data and crypto mining centers and the electrification of buildings, transportation, and infrastructure," analysts wrote on Monday.Though power consumption has ebbed over the past two decades, the bank anticipates that the US will require 100 gigawatts of effective capacity by 2035. That indicates a 1.5% nationwide annual growth rate, compared to 0.5% between 2015 and 2024.Under BofA's high-case scenario, however, power demand could require as much as 300 gigawatts instead.Among factors driving this trend is artificial intelligence. The bank previously cited that this alone could require as much as 28 gigawatts of effective capacity by 2026.While this will vary dramatically per region, analysts listed five utility firms that stand to benefit from the acceleration: <a target="_blank" href="https://markets.businessinsider.com/stocks/sre-stock">Sempra</a>, Northwestern Energy, <a target="_blank" href="https://markets.businessinsider.com/stocks/pnw-stock">Pinnacle West</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/etr-stock">Entergy</a>, and <a target="_blank" href="https://markets.businessinsider.com/stocks/txnm-stock">TXNM</a>.1. Entergy stands to gain 3.6% from current levels, based on BofA's price objective of $138 per share. That's based on a 2026 sum-of-the-parts analysis and expectations that the utility firm's 15.4-times price-to-earnings ratio will rise over 5%.In 2024, the electric distributor has soared over 30% year-to-date. It has already <a target="_blank" href="https://www.businessinsider.com/data-centers-electricity-consumers-discounts-utilities-2024-4">played a role</a> in the emerging buildout of AI data centers and has <a target="_blank" href="https://www.businessinsider.com/companies-expand-access-ev-charging-rural-america-2022-3">helped expand</a> the power-charging grid for electric vehicles.2. Sempra will rise 13% based on the bank's $94 share target. Goldman Sachs has similarly touted this infrastructure firm, noting the company's significant spending to <a target="_blank" href="https://markets.businessinsider.com/news/stocks/ai-stocks-to-buy-electricity-demand-benefit-utilities-data-centers-2024-5?utm_medium=ingest&amp;utm_source=markets">support data center growth in Texas.</a>3. Northwestern Energy could similarly jump over 13% to reach a $65 price target, Bofa says."We value NWE at an in-line multiple given improving regulatory treatment in Montana and sector-average EPS growth with no equity dilution, with upside likely occurring in 2026 onwards," analysts wrote. "Between a more constructive regulatory construct and a strong balance sheet, we see NWE as differentiated relative to other small cap utilities."4. Pinnacle West will climb 4.6% under BofA's price objective of $93 per share. The bank has previously touted PNW among high-quality, value stocks <a target="_blank" href="https://www.businessinsider.com/stocks-to-buy-market-outlook-investing-strategy-volatility-vix-bofa-2024-8#25-lockheed-martin-25">worth owning to hedge against volatility</a>.5. TXNM Energy is set to increase 10% from current levels, reaching a price target of $48 per share.

5 energy stocks that will get a boost from ballooning electric demand

<ul class="summary-list"><li>Nvidia stock rose as much as 5% on Thursday after CEO Jensen Huang noted strong demand for its Blackwell GPU.</li><li>Huang confirmed Blackwell chips are in full production despite earlier redesign delays.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a> stock jumped as much as 5% on Thursday following comments from CEO Jensen Huang about the strong demand the company is experiencing for its next-generation Blackwell GPU chips.The stock pared some gains and was up about 3% to trade at $122.47 at 10:30 a.m. ET. Shares of Nvidia have been on a tear, rising 149% year-to-date, making it <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/best-performing-sp500-stock-utility-vistra-energy-ai-power-electricity-2024-10">the second-best-performing S&amp;P 500 stock this year.</a>"Demand for Blackwell is insane," Huang said in an interview with CNBC on Wednesday after the market close.Huang addressed the state of production for the Blackwell chip, as <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-ai-chip-blackwell-delay-new-annual-product-launch-2024-8">reports of small redesigns to the chip earlier this year</a> led to slight delays in its rollout to customers."Blackwell is in full production, Blackwell is as planned," Huang said. "Everybody wants to have the most and everybody wants to be first."Those comments align with the comments of some of Nvidia's biggest customers, including <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/orcl-stock">Oracle</a> cofounder Larry Ellison.Earlier this month, Ellison said <a target="_blank" class="" href="https://www.businessinsider.com/larry-ellison-elon-musk-jensen-huang-gpus-dinner-oracle-nvidia-2024-9#:~:text=The%20Oracle%20cofounder%20and%20chairman,Elon%20begging%20Jensen%20for%20GPUs.%22">he and Elon Musk "begged" for more GPU chips</a> during a dinner with Huang.Ellison said they told Huang, "Please take our money. We need you to take more of our money."In the CNBC interview on Wednesday, Huang also reiterated that the company is on track to deliver a faster and more efficient GPU chip to customers every year."If we can increase the performance as we've done with Hopper to Blackwell by two to three times each year, we're effectively increasing the revenues or the throughput of our customers on these infrastructures by a couple times each year, or you could think about it as decreasing costs every two or three years," Huang said.He added: "We're on a path to do that and everything's on track."Huang emphasized in the interview that Nvidia has its fingerprints all over various layers of the computing stack, from GPU chips to software to networking components."This is a brand new way of doing computing, and we're dedicated to build the entire stack and reinvent every layer of the technology stack so that... every company in the world can benefit from this revolutionary new technology we call AI," Huang said.

Nvidia stock jumps after CEO Jensen Huang says 'demand for Blackwell is insane'

<ul class="summary-list"><li>After a tough earnings report, LVMH fell 3.7%, and brought smaller rivals like L'Oreal and Hermes down with it.</li><li>The Dior and Louis Vuitton parent pointed to weak consumer demand in China.</li></ul>Luxury stocks slid Wednesday after LVMH's tough earnings report and a warning from Wall Street about the struggle to revive demand among all-important China consumers. LVMH shares fell 3.7% Wednesday, while L'Oreal dipped 2.2%, and Hermes dropped 1.3%. LVMH reported a sales dip and delivered commentary on weak demand in China, a dire omen for the luxury sector which has relied heavily on consumers in the world's second-largest economy to drive growth. LVMH reported a sales decline of 3% year-over-year in the third quarter, according to its earnings released Tuesday.The French luxury conglomerate's fashion and leather products fell 5%, marking their weakest results since the second quarter of 2020. That group of products includes famed brands Louis Vuitton and Christian Dior.The company pointed to overwhelmingly weak demand in China, with organic sales in Asia (excluding Japan) falling 16%."Most of our markets currently face economic challenges including mainland China," LVMH's chief financial officer Jean-Jacques Guiony said during an earnings call, adding, "Consumer confidence in mainland China today is back in line with the all-time low reached during Covid."He acknowledged, though, that the strength of Chinese demand in the first half of 2024 could show a persistent appetite for luxury despite the recent slowdown.Yet, it seems there's no end in sight for the downturn for now. The company gave vague forward guidance, and analysts on Wall Street say the country's recent stimulus won't be enough to reverse the weak demand.There's "no improvement of luxury consumption after the recent macro policy pivot," analysts from Citigroup Inc. said in a note, which gathered observations from a Chinese luxury mall during the country's Golden Week holiday earlier this month.China's latest stimulus package, unveiled late last month, has aimed to prop up the country's weak consumer demand and struggling property sector. At first, it <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/luxury-stocks-china-stimulus-consumer-demand-hermes-lvmh-cartier-2024-9?_gl=1*1s9k12v*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyOTA5ODczMC4yNzYuMS4xNzI5MTAwMzIzLjU4LjAuMA..">fueled a rally among luxury stocks</a> including Hermes and LVMH, which both soared over 15% in the week the stimulus was first announced.The rally was a welcome sign for the sector after facing <a target="_blank" href="https://www.businessinsider.com/china-luxury-retail-sales-slowdown-brands-fashion-2024-7?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*130a4f1*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyOTA5ODczMC4yNzYuMS4xNzI5MDk5MzExLjM4LjAuMA..">months of slow demand</a> as China's consumers proved <a target="_blank" href="https://www.businessinsider.com/china-economy-weak-domestic-demand-factory-activity-amid-strong-export-2024-7?utm_medium=ingest&amp;utm_source=markets">reluctant to spend</a>, but the industry's current slide points to more pessimism. For his part, Guiony said he doesn't have any idea if the stimulus measures will succeed in boosting consumer spending. When asked about his outlook for the company going forward, he remained similarly vague."I've no idea," he said, adding, "The visibility of our business is as good as yesterday's sales. We've been through ups and downs. The only thing we know, when the business is bad, usually it's good thereafter. It's a cyclical business."

Luxury stocks slide as LVMH disappoints and Wall Street eyes few signs of stronger China demand despite stimulus

<ul class="summary-list"><li>Apple stock fell 3% after a report said demand for the latest iPhone is waning. </li><li>Analyst Ming-Chi Kuo said Apple cut iPhone 16 orders by 10 million units. </li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/AAPL-stock">Apple</a> stock tumbled on Wednesday, outpacing the broader market's declines as a prominent supply chain analyst warned of waning demand for its <a target="_blank" class="" href="https://www.businessinsider.com/guides/tech/iphone-16-review">new iPhone 16 models.</a>Shares of Apple dropped about 3% compared to the Nasdaq 100's 2% decline in Wednesday afternoon trades. The stock was trading at $229.50 at 2:50 p.m. ET. The decline in Apple stock accelerated Wednesday morning after closely followed Apple analyst Ming-Chi Kuo of TF International Securities said that the company slashed its iPhone 16 orders by about 10 million units. The reported production cuts cover the fourth-quarter of 2024 and the first half of 2025, according to the <a target="_blank" class="" href="https://medium.com/@mingchikuo/iphone-16-orders-cut-by-around-10-million-units-for-4q24-1h25-no-evidence-yet-that-apple-48c126a33bc6">report</a>.Kuo said the iPhone drop in orders suggests there's "no evidence yet that Apple Intelligence could boost iPhone shipments in the near term."Apple Intelligence refers to Apple's artificial intelligence tools, which include on-device AI capabilities that could also be outsourced to the cloud.While the company released its new iPhone line last month, its first round of software updates to bring Apple Intelligence to users of its devices isn't scheduled until later this month, and some features won't be updated until later this year.In an interview with <a target="_blank" class="" href="https://www.youtube.com/watch?v=fr8ALcEiYAk">The Wall Street Journal,</a> Apple's head of software, Craig Federighi, said the company's AI tools are a long-term story."This is a big lift, and we feel like we want to get it right," Federighi said.He added: "This isn't a one-and-done kind of situation. This is a many year, honestly even decades-long arc of this technology playing out."For now, <a target="_blank" class="" href="https://www.businessinsider.com/iphone-16-apple-intelligence-ai-does-not-matter-to-customers-2024-9">consumers don't seem to be rushing to upgrade their iPhones</a> for the yet-to-be-released AI software features, which include summaries of text and email notifications, enhanced photo editing capabilities, and the ability to rewrite or generate an e-mail or text message response.According to Kuo, the production cut for the iPhone 16 likely won't be fully reflected in Apple's fourth-quarter revenue results, as the product mix of more expensive iPhone Pro models "is more favorable.""However, iPhone revenues are expected to come under pressure in 1H25 due to a YoY shipment decline and a less favorable product mix due to the launch of the SE4," Kuo said.The <a target="_blank" class="" href="https://www.businessinsider.com/apple-new-iphone-se-with-ai-could-help-china-sales-2024-10">iPhone SE4 </a>is Apple's lower-cost iPhone, which is expected to be launched in the first quarter of next year. The phone is expected to cost around $500 and have the processing power required to run Apple Intelligence features.One fear among Wall Street analysts is that the cheaper iPhone SE could cannibalize some of the sales of its iPhone 16 model, which costs closer to $1,000 depending on the features. While Kuo is bullish on Apple's ability to integrate AI technologies into its iPhones, he said it will take time and likely new iterations of hardware to boost iPhone sales considerably."Significant growth in iPhone shipments will likely require further hardware innovation to accompany this AI development," Kuo said.

Apple stock tumbles after analyst says iPhone 16 orders cut by 10 million units, sees 'no evidence' AI boosting demand

<ul class="summary-list"><li>The AI boom will nearly double demand for copper, mining firm BHP told the Financial Times.</li><li>BHP predicts demand will reach 52.5 million tons a year, 72% higher from 2021 levels.</li></ul>A rising <a target="_blank" href="https://markets.businessinsider.com/commodities/copper-price?utm_medium=ingest&amp;utm_source=markets">copper</a> shortage is set to intensify as artificial intelligence boosts demand for the red metal by as much as 72% in the coming decades, according to mining giant BHP.Chief Financial Officer Vandita Pant told the <a target="_blank" href="https://www.ft.com/content/da407b47-4133-470a-9574-508cee43e107">Financial Times</a> that AI data centers will account for 6% to 7% of copper demand by 2050. These centers currently make up less than 1%, she noted, but there increasing buildout requires more of the red metal.By another measure, BHP expects global demand for copper to rise 52.5 million tons a year by the mid-century, compared to 30.4 million tons in 2021.In recent years, a shortfall in the red metal has sparked concern among industries that depend on it, and commodity experts have forecast the demand-supply imbalance to hike prices through the years to come. Copper is a key material in various economic sectors, used in everything from construction to machinery.Global inventory <a target="_blank" href="https://africa.businessinsider.com/markets/copper-prices-could-soar-33-in-the-next-year-as-global-inventories-hit-lowest-since/2e3c17j?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">hit its lowest levels since 2008 last year</a>, with existing projects failing to keep up with demand. Meanwhile, new mines are not coming online fast enough — it typically takes <a target="_blank" href="https://markets.businessinsider.com/news/commodities/copper-price-outlook-forecast-record-supply-shortage-metal-demand-commodities-2024-5">15 years to open one.</a>These conditions caused copper prices to peak to a record high in May, though China's economic tumble has helped deflate prices to $9,207 a ton. However, some analysts see the commodity <a target="_blank" href="https://markets.businessinsider.com/news/commodities/copper-price-best-investment-jeff-currie-commodity-metal-shortage-industry-2024-5?utm_medium=ingest&amp;utm_source=markets">rising $15,000</a> to $40,000 as the shortage becomes more apparent.The industry has turned to mergers and acquisitions to increase output. BHP, for example, partnered with Lundin Mining in July to purchase exploration firm Filo for $3 billion, FT reported.But AI will compound demand for copper moving forward, as the metal is a key ingredient in electrifying the data centers that run the technology.Meanwhile, the chips that power the tech are extremely power-intensive, adding to the situation. Bank of America projects that an additional <a target="_blank" href="https://markets.businessinsider.com/news/commodities/ai-power-grid-demand-utility-bill-outlook-electricity-ev-2024-7">18 to 28 gigawatts of electric capacity will needed by 2026</a>.Previously, the bank also considered copper prices to <a target="_blank" href="https://markets.businessinsider.com/news/commodities/gold-price-copper-oil-cocoa-commodities-inflation-interest-rates-economy-2024-4">benefit from the expansion of AI data centers.</a> It predicted that the metal could hit $5.44 a pound by 2026, indicating 27% upside from current levels.

AI will nearly double demand for copper, which is already facing a global shortage

<ul class="summary-list"><li>Apple shares were down 3% on Monday, leading a drop in the wider tech sector. </li><li>The slide came after analyst Ming-Chi Kuo warned of light iPhone 16 demand.</li></ul>Apple shares tumbled about 3% on Monday, leading a broader tech selloff that weighed on the Nasdaq Composite. Apple's stock was trading at $215.90 a share, down 2.9% shortly after midday on Monday. The decline came shortly after TF International Securities analyst Ming-Chi Kuo estimated the <a target="_blank" class="" href="https://www.businessinsider.com/guides/tech/iphone-16">iPhone 16 series</a> garnered 37 million pre-orders in its first weekend — nearly 13% short of last year's iPhone 15 debut weekend.The lack of demand for the newest iPhone is likely because Apple has yet to roll out its most anticipated new feature, Apple Intelligence, Kuo said."One of the key factors for the lower-than-expected demand for the iPhone 16 Pro series is that the major selling point, Apple Intelligence, is not available at launch alongside the iPhone 16 release," Kuo said in a <a target="_blank" href="https://medium.com/@mingchikuo/iphone-16-first-weekend-pre-order-analysis-estimated-total-sales-of-about-37-million-units-pro-0a04869b147c">Sunday note</a>.In an announcement last week, the company said Apple Intelligence will start rolling out in English next month, with more features to come in the months following. AI integration won't be available in other languages until next year.Apple's downturn is pulling weighing on the wider tech space, with the Nasdaq Composite down 0.8% compared to the S&amp;P 500, which is trading nearly flat, while the Dow Jones Industrial Average was up slightly. Many top semiconductor names were tumbling Monday afternoon. Micron and Broadcom fell 4.5% and 3%, respectively, while Super Micro Computer, Inc dropped about 1% around noon ET. Taiwan Semiconductor Manufacturing Company Limited, Apple's primary chip manufacturer, saw its stock down about 3%.Apple's losses come after four months of gains, fueled by forecasts of higher iPhone sales with new AI features. The stock has gained around 12% this year, slightly behind the Nasdaq's 15% jump.Kuo said that if shipments don't increase with the release of Apple Intelligence and holiday season promotions, the company will likely need to pivot its product strategy."In that case, I believe that Apple will implement more aggressive iPhone product strategies in 2025 to stimulate market demand," Kuo said.

Apple leads tech sell-off after analyst warns of light iPhone 16 demand

<ul class="summary-list"><li>Investors have turned bearish on oil amid fears of an OPEC+ price war and weak China oil demand.</li><li>But if world GDP grows 3.3% next year, energy demand will likely surge, Bank of America says.</li></ul>Investors have turned sour on oil over fears of an oversupplied market in the next year.However, the downbeat sentiment setting a "bear trap" for investors, Bank of America analysts say.That's because if GDP grows according to estimates, energy demand growth will likely follow. They note that recent short positioning in the oil market has reached near-record levels as investors become concerned about OPEC+ plans to add more supply to a market already awash in US oil. However, investors should look instead to the AI boom as a sign of future demand growth."For all the bearish concerns out there, we believe global energy consumption will likely speed up ahead as the next productivity revolution comes to the fore," the analysts wrote in a Monday note."It is important to remember that the upcoming clash between artificial intelligence and the fight against climate change has energy at its core," they added.The analysts estimate that with AI-driven demand for data centers coming as part of the next "productivity revolution," US electricity demand growth will speed up from 0.2% to 2% in the next seven years.With the analysts' estimates for 3.3% growth in world GDP in 2025, energy consumption could expand by six to nine million barrels of oil per day, so long as the global economy avoids a hard landing or a trade war. That totals as much as 3% growth in global energy demand.Further policy easing from the Federal Reserve with lower interest rates could also help boost the world economy "quite substantially over the coming quarters," the strategists said.They expect the Fed to drive rates below 3% by the end of next year, which they say could stimulate both oil and cyclical commodity demand, they said.And with tensions in the Middle East rising, supply could see unexpected changes, which could pose upside risks to the analysts' price projections.The analysts' forecast for greater for energy demand comes as investors have turned bearish on energy, with prices dwindling this year even amid mounting concerns of disruptions from conflicts in the Middle East. OPEC+ plans to add crude oil barrels into an existing surplus oil market after a series of cuts in the last two years.OPEC's supply plans and sluggish demand in China could pose risks to the oil market next year, the analysts said.Those factors, along with the chance for a global economic slowdown, pose downside risks to the analysts' oil price target."A trade war, an OPEC+ price war, or a hard economic landing could take oil below $60/bbl temporarily. Yet a move to this level could quickly push the oil market into balance and encourage substitution from the power generation sector," the analysts said.

Investors shorting oil are walking into a 'bear trap' with energy demand set to surge, Bank of America says

<ul class="summary-list"><li>China's oil demand growth has slowed this year.</li><li>That's due to China's big shift to EVs and natural gas, Goldman Sachs analysts said. </li></ul>Oil demand in China has slowed markedly this year amid the country's shift to electric vehicles and natural gas, Goldman Sachs analysts said.The firm estimates that oil demand growth in the country is down to 200,000 barrels per day for 2024 compared to last year, with overall consumption down by 300,000 barrels a day. The shift from gas-fueled cars to electric and hybrid vehicles alone has reduced demand by 500,000 barrels a day, the analysts said. China's EV sector has expanded rapidly, with three of its biggest electric car makers <a target="_blank" href="https://www.businessinsider.com/chinese-electric-vehicles-byd-selling-record-cars-tesla-competition-deliveries-2024-7">hitting record sales in June</a>. A <a target="_blank" href="https://www.businessinsider.com/chinese-ev-makers-outpacing-tesla-in-one-key-area-2024-7">report</a> from last month finds Chinese EV companies are catching up to — and even beating — industry leader Tesla when it comes to innovation.In an earlier report, the analysts predicted the surge in electric and hybrid sales will cause China's road oil consumption to peak in 2025, years ahead of most emerging market economies.The analysts say the oil demand slowdown also indicates broader concerns around China's dependence on manufacturing."While oil data now send a too pessimistic message about China economic activity (fuel switching does not lower GDP), overcapacity highlights the fragility of China's manufacturing bet," the analysts wrote.The oil slowdown comes as China's economy faces a slowdown across the board, with a <a target="_blank" href="https://www.businessinsider.com/china-economy-housing-market-real-estate-crash-investors-outlook-construction-2024-3?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*1i3p3gk*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyNDE3MTUxMi41My4wLjE3MjQxNzE1MTQuNTguMC4w">struggling property sector</a> and <a target="_blank" href="https://www.businessinsider.com/china-economy-weak-domestic-demand-factory-activity-amid-strong-export-2024-7?utm_medium=ingest&amp;utm_source=markets">weak consumer sentiment</a>.On Monday, the country's two main stock exchanges <a target="_blank" href="https://markets.businessinsider.com/news/stocks/chinese-stocks-sentiment-indicator-flows-foreign-investors-china-economy-2024-8#:~:text=China's%20economy%20is%20facing%20headwinds,first%20half%20of%20the%20year.">stopped reporting daily data</a> on flows from foreign investors, part of a greater move away from reporting real-time data as the <a target="_blank" href="https://www.businessinsider.com/china-economy-growth-consumer-spending-demand-real-estate-debt-crisis-2024-8">economy remains stuck in a rut</a>.

China's EVs are fueling a big oil demand slowdown

<ul class="summary-list"><li>Wall Street turned even more bullish on Apple after its second-quarter earnings beat analyst expectations.</li><li>Analysts are focused on a rebound in Chinese iPhone sales and the new iPhone 16. </li></ul>Wall Street is growing even more bullish on <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/aapl-stock?miRedirects=1">Apple</a> stock after the company reported its <a target="_blank" class="" href="https://www.businessinsider.com/apple-aapl-stock-quarterly-earnings-call-report-live-updates-2024-7">second-quarter earnings results</a> on Thursday.The results, which beat analyst expectations for profit and revenue, revealed that Apple's iPhone business in China is finally turning a corner after a year-long slowdown, and that the company expects a strong third-quarter driven by the upcoming release of its new iPhone 16."This was an upbeat conference call in our view as stronger September guidance is just the opening act for the main event which is an AI-driven super cycle starting with iPhone 16 launching in mid-September," Wedbush analyst Dan Ives said, adding that "the worst is now behind Apple in the key China region."Ives raised his Apple price target to $285 from $275, representing potential upside of 30% from Thursday's close.Boosting Ives' confidence in Apple's business is the potential for it to significantly monetize artificial intelligence technologies."We believe AI technology being introduced into the Apple ecosystem will bring monetization opportunities on both the services as well as iPhone/hardware front and adds $30 to $40 per share," Ives said.Apple offered guidance for the third-quarter, with revenue expected to jump 5% year-over-year, ahead of Wall Street expectations for revenue growth of 4.3%."Our view is betting against Cook and Cupertino into an AI-driven supercycle led by iPhone 16 and Apple Intelligence is the wrong move for investors as the renaissance of growth returns to the Apple story," Ives said.<a target="_blank" class="" href="https://markets.businessinsider.com/stocks/gs-stock?miRedirects=1">Goldman Sachs</a> analyst Michael Ng also grew more upbeat on Apple stock following its results.Ng raised his Apple price target to $275 from $265, arguing that the iPhone maker is "on the cusp of a multi-year replacement cycle for iPhone.""The F4Q24E gross margin outlook supports our view that iPhone revenue in the September quarter should be strong given that iPhone has the highest margins in the Products portfolio, providing mix benefits, and that the recent Service gross margin expansion to the mid-70% range is durable," Ng said in a Thursday note.Shares of Apple jumped as much as 2% in Friday's trading session, bucking the trend of the broader market's 2% decline <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-july-jobs-report-nonfarm-payrolls-unemployment-increase-2024-8">following a weak July jobs report.</a>

Wall Street seems to love Apple's latest guidance on the new iPhone and Chinese demand

<ul class="summary-list"><li>Eli Lilly stock surged 14% after delivering a strong earnings report driven by its GLP-1 drugs.</li><li>The company saw significant sales growth from Mounjaro and Zepbound, boosting revenue, EPS, and guidance.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/META-stock">Eli Lilly</a> stock soared as much as 14% on Thursday after the pharma giant reported a solid second-quarter earnings beat driven by its popular GLP-1 weight loss drugs.The company has raced to bring on more supply for its tirzepatide-based drugs, Zepbound and Mounjaro, and those efforts are starting to pay off.Here were the key second-quarter numbers:<ul><li>Revenue: $11.30 billion, versus analyst estimates of $9.98 billion</li><li>Adjusted EPS: $3.92, versus analyst estimates of $2.76</li><li>2024 revenue outlook: $45.4 billion to $46.6 billion, versus previous guidance of $42.4 billion to $43.6 billion</li><li>2024 adjusted EPS outlook: $16.10 to $16.60, versus analyst estimates of $13.71</li></ul>"Mounjaro, Zepbound, and Verzenio led our strong financial performance in the second quarter as we advanced our manufacturing expansion agenda," CEO David Ricks said.Mounjaro, which is indicated for Type II Diabetes, generated sales of $3.1 billion in the quarter, representing year-over-year growth of about 215% and ahead of analyst expectations of $2.4 billion.Zepbound, which is indicated for weight-loss, generated sales of $1.2 billion in the quarter. The drug was launched in the fourth-quarter of 2023.In an interview with CNBC on Thursday, Ricks said much of the demand for its weight-loss drugs is organic, driven by consumer interest."We just see unbelievable demand, and we're not even trying that hard to promote this drug. We're not advertising, we told our sales reps to basically just service customers, don't promote. And what you're seeing is just consumer organic demand here as we've shipped more product, as we bring more supply online in the United States," Ricks said.JPMorgan, which rates Eli Lilly at "Overweight" with a $1,000 price target, was impressed by the results."LLY remains one of our favorite names in the group as we see further upside to Street estimates as injectable capacity ramps, orforglipron comes to market and outcomes data supports broad use of obesity medications," JPMorgan said in a note on Thursday.Orfoglipron is Eli Lilly's pill-based GLP-1 drug that is still undergoing clinical trials.

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