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BANGKOK (AP) — Shares were mixed in Asia on Friday after a modest retreat on Wall Street, while oil prices gained more than 1%.

Selling of computer chipmakers and other stocks linked to the boom in artificial intelligence appeared to taper off a bit as Tokyo's Nikkei 225 lost 0.3% to 65,500.10.

The Kospi in South Korea dropped 0.8% to 6,242.88 and Taiwan's Taiex fell 0.4%.

The Shanghai Composite index gained 0.8% to 3,931.54 after China reported its exports grew at a slightly slower but still robust pace of about 24% in July on strong demand for electronics and other high-tech products. China's huge trade surplus narrowed last month and imports also slowed.

Hong Kong's Hang Seng edged 0.2% higher, to 25,582.34.

In Australia, the S&P/ASX 200 slipped less than 0.1%, to 9,265.20.

On Thursday, stocks declined on Wall Street as oil prices rose and more company earnings reports rolled in.

The S&P 500 fell 0.2% and the Dow industrials fell 0.9%. The Nasdaq composite fell 0.1%.

The price of Brent crude rose nearly 4% on Thursday as progress toward reopening the Strait of Hormuz, vital to securing stable oil supplies, remained unclear.

Iran has said it is close to a deal with Oman for reopening the strait. U.S. President Donald Trump has also previously said a deal is close, but the conflict has had many starts and stops over the past five months.

Reopening the strait may require a compromise since the Trump administration has ruled out Iran charging fees to ships. But Iran has insisted on some measure of control, saying the strait will not go back to being an international waterway.

As of early Friday, a barrel of Brent, the international standard, was up 1.6% at $83.78. U.S. benchmark crude oil advanced 1.2% to $78.22 per barrel.

A fifth of the world's traded oil and natural gas once passed through the Strait of Hormuz. Oil prices have surged as high as $113 due to the war and higher prices have added more heat to inflation by raising the price of gasoline and raising costs for shipping.

While markets are still weighed down by worries over the war and over a possible bubble in investments in artificial intelligence, strong overall corporate profits have helped allay concerns on Wall Street about shares being overpriced.

Roughly 85% of companies in the S&P 500 have reported their results and overall earnings growth for the period is shaping up to be the strongest since 2021.

Warner Bros. Discovery rose 1.7% after reporting earnings that came in ahead of what investors were expecting. Molson Coors rose 1.3% after also reporting encouraging financial results.

Story Continues

On the losing end, Honeywell Aerospace fell 23.2% after turning in results that fell well short of forecasts. AppLovin slumped 19.7% after the digital ad company reported mixed financial results for its most recent quarter.

Outside of earnings, SpaceX rose 6.1%. More than 911 million SpaceX shares held by early investors and employees became eligible for sale Thursday as a lockup period for the stock expired. That is more than double the shares that were initially offered to the public for sale during the initial public offering for Elon Musk's company.

SpaceX jumped as high as $225 a share following its market debut in June, but has since slumped below its initial $135 offering price. The stock is currently trading around $115.

The latest monthly jobs report, for July, will be released Friday.

U.S. employment remains strong, but growth in hiring has been easing. A weekly report on Thursday showed the number of Americans applying for unemployment benefits rose last week, though layoffs remain in the historically healthy range of the past few years. Employers pulled back on hiring in June, adding only 57,000 jobs.

In other dealings early Friday, the dollar fell to 158.35 Japanese yen from 158.42 yen. The euro was unchanged at $1.1524.

---

Associated Press Writer Damian J. Troise in New York contributed to this report.

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Thursday evening, MP Materials reported second-quarter Ebitda of $28.5 million, Wall Street was looking for $27.1 million.

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Thursday, August 6, 2026

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Apple Inc. (AAPL), Shell plc (SHEL) and Toyota Motor Corp. (TM), as well as two micro-cap stocks Seneca Foods Corp. (SENEA) and Value Line, Inc. (VALU). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.

These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today's research reports here >>>

Ahead of Wall Street

The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.

You can read today's AWS here >>> Pre-Market Flat on Consistently Low Jobless Claims

Today's Featured Research Reports

Shares of Apple have gained +14.6% over the year-to-date period against the Zacks Computer - Micro Computers industry's gain of +20%. The company's third-quarter fiscal 2026 results showed broad demand across iPhone and Mac, while Services benefited from a record installed base and rising paid subscriptions.

Siri AI and deeper on-device intelligence can strengthen ecosystem engagement and support future hardware upgrades. Apple's cash generation and continued buybacks also provide support for investors.

However, fourth-quarter fiscal 2026 growth is expected to slow as foreign exchange and supply constraints intensify. Memory costs are rising, recent price increases may test demand, and tariff refunds provided a temporary benefit to margins and earnings. App Store changes and regulatory actions remain an added risk to Services economics. These offsets leave the long-term growth case intact, but the near-term mix of execution, cost and policy risks supports a Neutral view.

(You can read the full research report on Apple here >>>)

Shell's shares have gained +21.7% over the year-to-date period against the Zacks Oil and Gas - Integrated - International industry's gain of +28%. The company benefits from higher commodity prices, robust LNG trading, improved refining and chemicals margins, and disciplined execution that supports solid cash generation.

Shell continued rewarding shareholders through dividends and buybacks while strengthening its balance sheet with lower debt. In addition, portfolio optimization and strategic investments, including the ARC Resources acquisition, enhance its long-term growth outlook.

However, the company remains exposed to geopolitical disruptions, commodity price volatility, and execution risks tied to major acquisitions. Some businesses, including Marketing and Renewables & Energy Solutions, underperformed, while higher maintenance activity weighed on production. Hence, a Neutral recommendation appears justified as long-term strengths are balanced by near-term uncertainties.

(You can read the full research report on Shell here >>>)

Shares of Toyota Motor have outperformed the Zacks Automotive - Foreign industry over the past year (+2.4% vs. -17.1%). The company is well positioned to benefit from rising hybrid adoption, with expanding HEV sales, higher electrified vehicle penetration and continued investments in next-generation battery capacity supporting long-term demand.

Toyota Motor's growing value-chain businesses, including financing and connected services, provide stable recurring earnings, while a higher fiscal 2027 sales outlook and manufacturing expansion in key markets reinforce growth prospects.

However, the investment case is tempered by expectations for lower fiscal 2027 operating income due to higher labor, depreciation and R&D costs. Persistent weakness in China, elevated leverage and Middle East uncertainty also pose risks. Thus, the stock warrants a cautious stance.

(You can read the full research report on Toyota Motor here >>>)

Seneca Foods' shares have outperformed the Zacks Food - Miscellaneous industry over the past year (+66.2% vs. -14.8%). This microcap company with a market capitalization of $1.16 billion is benefiting from stronger operating execution, supported by improved production efficiency, a vertically integrated network and a broader product portfolio following the Green Giant frozen buyout.

Healthy cash generation and debt reduction provide greater financial flexibility to invest in growth while strengthening the balance sheet. However, the investment case remains tied to the mature canned vegetable category, with customer concentration, acquisition integration, agricultural variability, input-cost inflation and seasonal working-capital swings posing risks to earnings.

The valuation suggests investors remain cautious about the sustainability of recent margin improvements and long-term growth prospects, creating upside if management successfully executes the integration, maintains operational discipline and delivers durable earnings growth.

(You can read the full research report on Seneca Foods here >>>)

Shares of Value Line have declined -5.2% over the past year against the Zacks Financial - Investment Management industry's decline of -7.8%. This microcap company with a market capitalization of $330.68 million sees its core publishing business under pressure, with operating income declining 56% since fiscal 2024, while structural declines in print subscriptions, customer concentration and intense competition continue to weigh on long-term growth. Shares trade below historical valuation medians.

Nevertheless, Value Line is supported by its recurring, asset-light earnings from its contractual interest in EAM, which generated $19 million in fiscal 2026 and provided a stable profit stream. The company also maintains a strong balance sheet with $62.3 million in investment assets, rising investment income, expanding digital subscription offerings and a disciplined capital allocation strategy that includes dividend growth and share repurchases.

Value Line's long-established research franchise, proprietary rankings and licensing revenues further strengthen recurring cash flows and competitive positioning.

(You can read the full research report on Value Line here >>>)

Other noteworthy reports we are featuring today include Quanta Services, Inc. (PWR), ONEOK, Inc. (OKE) and Waters Corp. (WAT).

Mark Vickery Senior Editor

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Story Continues

Today's Must Read

Strong iPhone 17 & Services Growth to Aid Apple's (AAPL) Prospects

Strong Balance Sheet with Reduced Net Debt Aids Shell (SHEL)

Rising Hybrid Adoption Aids Toyota (TM) Amid High Operating Expenses

Featured Reports

Fee-Based Earnings and Expansion Projects Aid ONEOK Inc. (OKE) Per the Zacks analyst, ONEOK Inc. benefits from its diversified midstream network, which supports stable fee-based earnings. Ongoing expansion projects will boost volumes and improve performance.

Strong Pharma Recovery and Synergies Aid Waters (WAT) Prospects Per the Zacks analyst, Waters is benefiting from a pharma recovery, recurring demand, product launches and acquisition synergies, which aid its growth prospects.

TraceGains Buyout Aids Veralto (VLTO) Amid High Competition Per the Zacks analyst, TraceGains' acquisition broadens Veralto's digital offerings, utilizing synergies with its Esko-branded solutions and consumer base. Rising competition is an overhang.

Lease Demand, Development Aid Mid-America Apartment (MAA) Amid Supply Per the Zacks analyst, Mid-America Apartment gains from improving lease demand due to favorable renter economics. Active development pipeline support its long-term growth. Yet, supply pressure ails.

Victoria's Secret (VSXY) Drives Growth Through Beauty Business Per the Zacks analyst, Victoria's Secret's Beauty business gains from fine fragrance strength. Its product innovation and integrated marketing helped drive low double-digit retail sales growth in Q1.

TNGX's Lead Candidate Drives Upside, But Sparse Pipeline Worries Per the Zacks Analyst, Tango's lead PRMT5 inhibitor and multiple clinical catalysts support long-term potential, but its lack of marketed products and limited pipeline remain key risks.

WIX Rides on Healthy Bookings, Studio Uptake Amid Forex Woes Per the Zacks analyst, solid bookings driven by strong creative subscriptions and adoption of business solutions are driving Wix. Expanded international footprint exposes it to FX volatility.

New Upgrades

Utility Spending & Backlog Growth Aid Quanta's (PWR) Performance Per the Zacks analyst, Quanta benefits from rising utility spending, record backlog and strong power infrastructure demand. Also, grid modernization and strategic acquisitions bode well.

Branch Expansion & NII Growth Support Cullen/Frost (CFR) Per the Zacks analyst, Cullen/Frost's expansion across Texas is driving loan and deposit growth. Rising net interest income (NII) further supports its top-line growth.

THG Gains From Personal Lines, Specialty Strength & Investment Income Per the Zacks analyst, The Hanover benefits from Specialty and Commercial growth, improving Personal Lines, higher investment income, lower catastrophe losses and disciplined capital returns.

New Downgrades

Demand Softness & High Capital Expenditure Ail Dana (DAN) Per the Zacks analyst, softness in traditional commercial vehicles is weighing on Dana's top-line growth. Rising capital expenditure also remains a concern.

Lower Transaction Revenue, Restructuring Costs Weigh on Coinbase Per the Zacks analyst, Coinbase's market share gains and product diversification support growth, but lower transaction and subscription revenues and higher restructuring costs remain headwinds.

TNGX's Lead Candidate Drives Upside, But Sparse Pipeline Worries Per the Zacks Analyst, Tango's lead PRMT5 inhibitor and multiple clinical catalysts support long-term potential, but its lack of marketed products and limited pipeline remain key risks.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Apple Inc. (AAPL) : Free Stock Analysis Report

Toyota Motor Corporation (TM) : Free Stock Analysis Report

Quanta Services, Inc. (PWR) : Free Stock Analysis Report

ONEOK, Inc. (OKE) : Free Stock Analysis Report

Waters Corporation (WAT) : Free Stock Analysis Report

Seneca Foods Corp. (SENEA) : Free Stock Analysis Report

Value Line, Inc. (VALU): Free Stock Analysis Report

Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

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Canadian General Investments, Limited

TORONTO, Kanada, 6. August 2026 (GLOBE NEWSWIRE) – Canadian General Investments, Limited (CGI) (TSX: CGI) (LSE: CGI) berichtet auf ungeprüfter Basis, dass der Nettoinventarwert je Aktie (NAV) am 31. Juli 2026 85,03 US-Dollar betrug. Die Renditen des NAV seit Jahresbeginn und über zwölf Monate beliefen sich bei Wiederanlage der Dividenden auf 6,2 % beziehungsweise 17,3 %. Im Vergleich dazu erzielte der Referenzindex S&P/TSX Composite Index auf Gesamtrenditebasis in denselben Zeiträumen 12,5 % beziehungsweise 32,3 %.

Das Unternehmen verfolgt eine Fremdfinanzierungsstrategie über Bankkredite, um die Renditen der Stammaktionäre zu steigern. Am 31. Juli 2026 entsprach die Verschuldung 12,7 % des Nettovermögens von CGI; Ende 2025 waren es 11,9 % und am 31. Juli 2025 13,0 %.

Der Schlusskurs der CGI-Stammaktien lag am 31. Juli 2026 bei 51,10 US-Dollar. Daraus ergaben sich bei Wiederanlage der Dividenden Aktienkursrenditen seit Jahresbeginn und über zwölf Monate von 9,5 % beziehungsweise 29,0 %.

Die Sektorgewichte des Anlageportfolios von CGI zu Marktwerten am 31. Juli 2026 waren: Industrie 21,6 %, Informationstechnologie 18,7 %, Energie 15,8 %, Materialien 15,6 %, Finanzwerte 14,4 %, zyklische Konsumgüter 10,1 %, Immobilien 2,3 %, Kommunikationsdienste 1,2 % sowie Barmittel und Zahlungsmitteläquivalente 0,3 %.

Die zehn größten Anlagen machten zu Marktwerten am 31. Juli 2026 insgesamt 37,4 % des Anlageportfolios aus: Celestica 5,0 %, NVIDIA 4,7 %, Franco-Nevada 4,3 %, Royal Bank of Canada 3,6 %, Canadian Pacific Kansas City 3,6 %, First Quantum Minerals 3,5 %, Bank of Montreal 3,5 %, TFI International 3,3 %, Dollarama 3,0 % und Apple 2,9 %.

Weitere Informationen: Jonathan A. Morgan, President und CEO, Telefon (416) 366-2931, Fax (416) 366-2729, E-Mail info@canadiangeneralinvestments.ca, Website www.canadiangeneralinvestments.ca

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Let's get to the bad news first. Tesla (NASDAQ: TSLA) posted a disastrous second-quarter earnings report, sending the stock down 18% to a 52-week low. The week following Tesla's July 22 report was its worst since 2022, and the stock drop reduced CEO Elon Musk's net worth by $130 billion.

But on the other side of the coin, Tesla stock seems to have found a bottom and has risen 8.7% since hitting that low. Is this a good time to purchase the leading electric vehicle stock, given that it is apparently heavily discounted?

Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »Tesla CEO Elon Musk. Image source: The White House.

Why did Tesla's stock fall?

On the surface, Tesla's earnings report didn't look horrendous. Revenue was $28.23 billion, up a solid 26% from a year ago. Automotive revenue was strong, at $20.51 billion, up 23%. Tesla also reported delivering 480,126 vehicles, up 25% from last year.

The problem for Tesla, however, came in the company's rising expenses and falling margins. Operating expenses soared 47% from a year ago to $4.35 billion. Operating margins were nearly wiped out. Earnings per share were $0.33, badly missing consensus expectations of $0.54, as compiled by Yahoo! Finance.

On top of that, Tesla disclosed that its cash and investments dropped $1.2 billion in the quarter, and it reported negative free cash flow of $1.1 billion. CFO Vaibhav Taneja said capital expenditures more than doubled sequentially, and capital expenditures (capex) will increase in the second half of the year to more than $25 billion. Tesla will also borrow up to $30 billion for capex and plans to increase its capital spending over the next two to three years, Taneja said, adding:

We believe this is the right strategy to position the company for the next era. We'll always make such investments in a very capital-efficient manner. The path to amazing abundance is ever challenging and requires making bold bets. Our progress will be nonlinear. The future is going to be great. We are ready to rise to the occasion.

Will investors come back to Tesla?

One thing was abundantly clear from this earnings season: The market is rewarding companies that invest in AI when they deliver results. That's why Amazon, which raised its capex budget to $220 billion but showed massive gains in Amazon Web Services and its chips business, saw its stock price jump 20%.

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Tesla isn't at that level yet. It's still working on full self-driving technology, and unsupervised drives are only available in a handful of cities. Musk has high hopes for the company's planned Optimus robots, which he plans to deploy in factories and as household assistants, but that technology also appears to be a long way from commercialization.

Autonomous driving and robot personal assistants are much longer-duration bets than Amazon's investments in semiconductors, data centers, and AI computing capacity. Tesla will struggle to deliver near-term results, and that will likely continue to pressure the stock. This might be a stock to avoid for now.

We just issued 'double down' alerts on 3 stocks — find out if Tesla made our list

Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this.

On rare occasions, our expert team of analysts issues a "Double Down" stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves:

Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $550,385! Apple: if you invested $1,000 when we doubled down in 2008, you'd have $58,966! Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $396,758!*

Right now, we're issuing "Double Down" alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon.

See the 3 stocks »

*Stock Advisor returns as of August 3, 2026

Patrick Sanders has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Tesla. The Motley Fool has a disclosure policy.

Elon Musk's Tesla Suffered Its Worst Week Since 2022, Wiping Out $130 Billion of His Fortune. Is the Stock Still a Buy? was originally published by The Motley Fool

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Stocks are back at records. The rally still has something to prove.

The S&P 500 (^GSPC) broke out after months of reversals that frustrated bulls and bears alike. Wednesday's modest decline left it just below Tuesday's record close.

The Nasdaq-100 (^NDX) and chip stocks came back even faster, with the PHLX Semiconductor Index (^SOX) still up about 15% from its July 29 close after leading Wednesday's pullback.

(^SOX )

Go deeper with AlphaSpace

12,008.88 -170.38 (-1.40%)

At close: August 5 at 5:15:59 PM EDT ^SOX^NDX ^GSPC

Wednesday's retreat begins the more revealing phase. The broad indexes now have to defend their breakout zones, while chips still face heavy resistance overhead.

Jim Bianco called the move a "MEGA short cover," after bearish reports and podcasts had piled up around AI and technology. He noted that the Nasdaq-100's four-day run through Tuesday ranked among the strongest of the past two decades.

The biggest rebounds also came from the stocks hit hardest before the July 29 low. The worst-performing fifth of the S&P 500 heading into the recent low has rebounded a median 8%, while the group that held up best during the recent downturn is down about 1%.

Among chips, the prior laggards have risen about three times as much as the stocks that held up best.

The reversal came at an intriguing time.

Citadel bought the public stock portfolio of Leopold Aschenbrenner's Situational Awareness fund on July 30, one day after the Fed meeting and the recent market low. The sale removed a prominent overhang after the leveraged AI portfolio had suffered huge losses.

Still, a rally can begin with short covering and keep going.

"The technical reset we have been waiting for has largely occurred," Citadel's Scott Rubner wrote. "July did not change the structural bull market. It reset it."

Forced buyers can create speed. A lasting rally needs investors to keep buying after the squeeze fades.The chip index needs to hold 10,500 to the downside and clear 12,500, then 13,000 to the upside.·Yahoo Finance AlphaSpace

The semiconductor rally is broad enough to take seriously. Fifty-seven of the 61 stocks in the Yahoo Finance basket remain higher since July 29, with the median stock up about 15%

That is a dramatic reversal from late July, when chip stocks were collapsing while the rest of the market held together.

The overall rally is top-heavy once again. The equal-weighted S&P 500 is up less than 2%, and the median index member has gained less than 1%.

Microsoft (MSFT), Nvidia (NVDA), Amazon (AMZN), and Alphabet (GOOG, GOOGL) have added roughly $2.5 trillion in market value since July 29. Microsoft and Nvidia each contributed about $700 billion, Amazon nearly $500 billion, and Alphabet more than $600 billion.

Apple (AAPL) went the other way, falling 8% and erasing about $400 billion.

Story Continues

Four megacaps and the AI build-out chain are doing most of the higher-quality work.

Dell (DELL), Arista Networks (ANET), Eaton (ETN), Amphenol (APH), Hewlett Packard Enterprise (HPE), and Palo Alto Networks (PANW) have all posted strong gains while remaining near, or reaching, prior closing highs. Yahoo Finance analysis of AlphaSpace data

The group spans servers, networking, power equipment, connectors, enterprise systems, and cybersecurity. Arista closed at a record Wednesday, while the rest remain within roughly 5% of their prior highs.

The biggest semiconductor gains carry more repair risk.

Sandisk (SNDK) has rallied more than 30%, while Marvell (MRVL) is up nearly 30%. Lam Research (LRCX), Applied Materials (AMAT), Micron (MU), SK Hynix (SKHY), Intel (INTC), and Western Digital (WDC) have all posted double-digit rebounds.

Yet many remain 20% to 40% below their prior highs.

Jurrien Timmer, director of global macro at Fidelity, noted that "the fast money in South Korea and the US is doubling down." Micron and SK Hynix have added about $350 billion combined as the memory trade rebounds from a bear market.

Wednesday offered the first small look at which stocks investors may be willing to defend. The next deeper pullback should provide a much better one.

Market Key levels Bullish signal S&P 500 Downside: 7600, 7490 Holds the breakout zone Nasdaq-100 Downside: 29,000–30,000 Upside: 30,660-30,760 Holds potential support and the record highs give way SOX Downside: 10,500 Upside: 12,500, 13,000 Holds potential support and clears key Fibonacci levels

An S&P 500 retreat toward 7,600 would be ordinary after a fast breakout. A close below the 50-day moving average near 7,490 would revive the risk of a fakeout.

The Nasdaq-100 should hold the 29,000-to-30,000 area before challenging its record close near 30,660 and intraday high near 30,760.

For chips, 12,500 is where shorts may reload and the rally could reverse. A move above 13,000 would force more of them out and give the damaged semiconductor names room to keep running.

The indexes will show whether the rally survives. The stocks holding near their highs will show where the next leadership is forming.

Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on X at @SPYJared or email him at jaredblikre@yahooinc.com.

Click here for in-depth analysis of the latest stock market news and events moving stock prices

Read the latest financial and business news from Yahoo Finance

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Yahoo Finance Technology Editor Dan Howley explains how the AI boom is driving up the cost of consumer electronics.

Video Transcript

00:00 Speaker A

AI, all the advantages and tailwinds, it's going to make you more productive, right? It's it's going to improve your life in so many ways. You say, hold on because it's also driving up the prices for your everyday electronics. What's the connection there?

00:15 Speaker B

Yeah, I mean, we've seen obviously Apple raise prices on its Macs and its iPads. Uh Microsoft raised prices on its surface line of products by as much as $500, $600. That's the starting price. Uh went from $9.99 to 14.99. It's a good jump. Uh we've seen uh smartphone makers raise prices. Uh there's been teases as to whether or not, you know, we might see an iPhone price increase and then obviously game consoles have gone up. Basically, the entire industry is is faced with this kind of memory shortage. And this is kind of the confluence of a number of of events. It's uh a result of uh COVID hangover uh where companies weren't able to build out factories that they wanted to to uh meet demand that uh prior demand, scaled back on spending and now they just don't have the uh supply uh chains that's set up to actually meet current demand. Uh it's a result of the data center build out. We're seeing a lot of companies allocate some of those lines to high bandwidth memory. That's the memory that goes into these data centers. and then oh yeah, they all use something called DRAM uh which goes into our laptops, our smartphones, anything that's really a computer. And so we're seeing these different issues all collide at once to create this global shortage. and that's raising the prices on devices that we buy every day.

01:46 Speaker B

just because the shortage stops though, and I mean when it stops, right? This is still something that we're saying maybe 28, maybe 30. We'll we'll still be uh seeing these kind of constraints. but even if it does stop, if prices increase on things like smartphones and laptops, companies may get a little comfortable and say, hey, you know, you guys are cool paying this? Maybe you should just keep paying that for the long term. And that's when we could start to see these prices really settle in and kind of have new highs for devices that we've been paying less for for years.

02:30 Speaker B

So if you're the type of person that goes and you buy or you pay monthly, then it's not really going to hit you that hard likely, right? Like maybe you're paying, you know, $10 more a month for a phone. Okay, you can probably swing that. I mean, let's not talk about how many other subscriptions we have, whatever, but an additional cost, 10 bucks, that might not be the worst. If you're buying a a laptop or an iPad or or a game console though, those are big budget items. And if you're going to try to throw all your cash at that at once so you don't have to make a payment on it, it's going to be a little touchy. So I think for now, for for things like iPhones, look, it's August, the next phone comes out next month most likely. You should probably just wait and see what that new price is. and then they still sell the the last generation phone. Uh for game consoles, if you look at something like the Nintendo Switch, I believe that's still under its original starting price. They're going to raise that by 50 bucks uh in the coming months. So, you buy that now. Uh if you're looking at something like a a laptop, those have already gone up in price.

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This article first appeared on GuruFocus.

Buffett followers in Spain are getting a rare payoff as value investing regains ground after years of being overshadowed by growth stocks. At the center of that comeback is Francisco Garcia Parames, the veteran investor often compared with Warren Buffett (Trades, Portfolio) for his focus on buying businesses below their estimated worth and waiting for the market to recognize their value.

Is AAPL fairly valued? Test your thesis with our free DCF calculator.

The payoff is visible at Cobas Asset Management, where Parames serves as chairman and chief investment officer. Its Cobas Internacional fund gained about 21.7% in 2026 through July 22, placing it 30th among 582 funds in its global value category. The fund was also up more than 43% over the previous 12 months.

The strategy behind the result is straightforward but difficult to maintain. Parames looks for companies he believes are trading below their underlying value, often outside the market's most popular areas. He then holds those positions through periods when sentiment moves against them. Cobas says its process is built around value investing and identifying assets that the market may be undervaluing.

To me, what's noticeable is the discipline that guides that philosophy. Parames doesn't attempt to forecast all market moves. Rather, he searches for companies that seem more valuable than their market price. That model was both pioneered and crystallized in his accomplishments at Bestinver, as one independent profile states he had an annualized return of 15.7% between 1993 to 2014.

There is a price tag in that pursuit as well. With deep-value investing comes opportunity for underperformance over extended periods of time when markets prostrate themselves in front of higher-priced growth stocks, or when a valuation thesis only starts to be realized years later. Parames' track record demonstrates that volatility can still be alleviated, just as much as it can be eased.

The lesson itself is still relevant now, as Buffett saw his investment in Apple (NASDAQ:AAPL) flourish due to its long-term business worth. The bigger picture is easy to see: value investing isn't just about coming up with the next big idea; it's about getting a grasp on the potential value of a business.

For investors who want to apply similar principles, GuruFocus' Buffett-Munger Screener offers a practical starting point. It screens for factors including predictable earnings, competitive advantages, manageable debt and fair or undervalued prices.

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Yahoo Finance Markets and Data Editor Jared Blikre examines the comeback seen across the semiconductor landscape over the past five trading days, while also analyzing which companies are emerging as leaders in the renewed AI rally.

Video Transcript

00:00 Speaker A

Not much has happened today in semiconductors, but over these last five days, we have seen a huge breakout rally and we're going to see some big numbers. I'll sort by performance.

00:11 Speaker A

Uh AEHR is up 50 over 55%, Lumentum is up 40%, SanDisk nearly 40, Marvell up over 30 and the list goes on.

00:24 Speaker A

Only one name, NXPI, uh that's down about 3.9%.

00:30 Speaker A

We've also seen mega-cap leadership here, and I'll show you the mega-caps over the last five days. So, you look at the Mag 7.

00:39 Speaker A

We've got some more besides the Mag 7 on here, but Meta is a standout trading to the downside just marginally. Apple's a real standout. It had been doing really well recently, but then over these last five days kind of faltered.

00:52 Speaker A

It's down about 9%, but once again, we do see mega caps leading and a lot of these are earning stories like Microsoft up 25%, Amazon up 20%. So that's nice to see.

01:00 Speaker A

Now, who are the going to be the leaders going forward and does this rally have staying power? Because a lot of what I was showing you in the semiconductor trade, those have been short covering rallies.

01:09 Speaker A

Those have been stocks that are bruised and battered that are just now kind of enjoying a liftoff the bottom, but they have to sustain that.

01:17 Speaker A

And so I've got a basket that I'm calling my AI leaders. We got five stocks here.

01:22 Speaker A

Uh these are pretty, most of these are pretty close to their highs, their recent highs that uh from over a month ago or they've broken out for them.

01:31 Speaker A

And here you can see over these five days, they're also posting some really nice returns. They address the AI market in different ways, like Dell and uh HPE, that's Hewlett Packard Enterprise.

01:40 Speaker A

Those are more servers. Uh but we've got PANW that's Palo Alto Securities, Arista more into the uh infrastructure there, the cabling and that kind of work and networking, uh and then Amphenol, that's up 15%.

01:52 Speaker A

So this is the group of stocks that I really got my eye on. I want to see these guys hold up uh even during some of the downturns. It's okay if they sell out a little, but I want to see them holding their recent highs.

02:03 Speaker A

And on that regard, I'm going to go to um my major indices, the S&P 500 and also the SOX and I'm going to point out a few key levels.

02:13 Speaker A

This is uh for my one big investment idea that's being published Thursday morning, so watch out for that. Here's the S&P 500. Let me put a year to date. Uh we want to watch the prior breakout level.

02:22 Speaker A

I'm not drawing this very well, but that is 4600. In addition, just below that, we've got the 50-day moving average. That's at about uh 4500 or just below that.

02:33 Speaker A

So as long as we're holding this in here, we can enjoy a little pullback and that's going to give the bears a little juice, but we want to hold that and then see it launch higher.

02:41 Speaker A

Now, in the Philadelphia Semiconductor Index, I'm going to pull that moving average off. Now, we have a big, big drop here. It doesn't look big on this chart, but basically from almost 15,000 all the way down to 10,000 it hit, I believe intraday.

02:54 Speaker A

So the big level I'm watching is 12,500. That is the midpoint. That's where shorts tend to reload. And then just above that, we've got a fib level, 61.8% that's going to come in at about 13,000.

03:04 Speaker A

You clear 13,000, it's pretty clear sailing to at least test these highs here, but you're going to get a lot of shorts interested as long as we're bouncing uh around under those levels.

03:17 Speaker A

So you watch those two key markets and the basket of five stocks I was showing you, that'll be your guide to navigating this new rally.

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This article first appeared on GuruFocus.

Apple Inc. (AAPL, Financials), the consumer technology company, reportedly failed to secure cheaper memory chips from Chinese manufacturer CXMT as tight global supply continued to strengthen producers' pricing power.

Warning! GuruFocus has detected 6 Warning Sign with ANET. Is AAPL fairly valued? Test your thesis with our free DCF calculator.

Apple negotiated prices for mobile DRAM products, including LPDDR5X memory used in smartphones and other devices, according to an industry report. CXMT reportedly rejected Apple's proposed prices and sought terms similar to or higher than those offered by Samsung Electronics and SK Hynix.

The response is notable because Chinese suppliers have traditionally been viewed as lower-cost alternatives. Huawei and Xiaomi have reportedly secured sizable memory orders from CXMT, but Apple's buying power was apparently not enough to produce a meaningful discount.

The setback comes as Apple looks for additional suppliers to manage rising component costs. The company recently warned that memory constraints were affecting its supply chain and said it was exploring alternative sources.

For memory producers, the negotiations suggest that demand remains strong enough to defend prices even against one of the industry's largest customers.

Investors will watch whether Apple returns to Samsung and SK Hynix or accepts higher CXMT prices as memory availability remains tight.

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