Fed Rate Moves, Nvidia's AI Chip Lead, DOJ Suit Against Apple, Chipotle Stock Split - What It Means for Investors
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The Fed's preferred inflation measure, the PCE price index, is due out on Friday. A hotter-than-expected reading could prompt further Fed rate hikes and cause the market to pull back.
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Nvidia unveiled a new graphics processing unit (GPU) at its developer conference, widening its lead in AI chips. Morningstar raised its fair value estimate on the stock by 25% to $910 per share.
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The Department of Justice sued Apple over alleged antitrust violations related to its "walled garden" ecosystem. Morningstar doesn't expect a significant impact to Apple's business or competitive advantages.
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Chipotle announced a 50-for-1 stock split. While such splits often give stocks a short-term pop, Chipotle remains one of Morningstar's most overvalued stocks.
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Morningstar highlighted several stocks that have pulled back to more reasonable valuations, including Extra Space Storage, Insulet, Starbucks, Interpublic Group, and Xcel Energy.