Stock markets will turn their attention to the Federal Reserve’s policy announcement on Wednesday. Before that happens, watch Apple's (AAPL) stock.
Apple, which was briefly overtaken by Nvidia (NVDA) by market cap last week, will kick off its annual developer conference today. WWDC might include initiatives in the artificial intelligence space. The firm has no in-house AI solutions to offer its ecosystem. Instead, the company is spending $110 billion to prevent shares from falling further.
Intel (INTC) stock is at a flatline at $30.74. The chip giant continues to form partnerships that would fund its fabrication plants around the world. On June 4, 2024, Apollo will invest in its Ireland plant in an $11 billion deal.
Intel’s new Xeon server processors, the Xeon 6 family, will counter AMD (AMD) and Nvidia.
Drug giant Pfizer (PFE) failed twice to break out above $29.99, a bearish signal. Although the FDA selected the Jn.1 variant for its next Covid vaccine campaign, this is not a bullish catalyst. Pfizer does not have any growth catalysts.
Among the Magnificent 7, Tesla (TSLA) and Amazon (AMZN) will attract traders. Tesla shareholders will vote on Elon Musk’s $56 billion pay package. It rewarded Musk the compensation in 2018.
Amazon’s stock dip on no news might attract traders today.
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