Apple, Nvidia, Tesla Analyst Ratings Shift Ahead of Earnings

Goldman Sachs reaffirmed its buy rating on Apple but lowered its price target to $256 from $259, while UBS maintained a neutral stance, cutting its target to $210 from $236 [1]. These adjustments come as analysts weigh anticipated product innovations and potential tariff impacts against flat demand trends for the iPhone.

Tech Giants Face Shifting Outlooks

Goldman Sachs remains optimistic about Apple's performance ahead of its May 1 earnings release, citing expected innovation in upcoming products like the iPhone 16e, M4-powered MacBook Air, and updated iPads [1]. The firm also suggests that concerns over tariff-related price changes may be boosting near-term sales [1]. UBS, however, noted that Apple likely accelerated iPhone shipments in anticipation of tariffs, which helped boost year-over-year revenue in the March quarter despite overall flat demand trends [1]. Wells Fargo also maintained an overweight rating on Apple but dropped its price target to $245 from $275, cautioning that Apple might not issue detailed third-quarter guidance due to economic and tariff uncertainties [1]. Morgan Stanley reiterated an overweight rating on Apple, with checks suggesting iPhone 18 demand might be "better than feared" [2].

Citi reiterated its buy rating on Nvidia, highlighting the company's strong position to benefit from long-term growth in artificial intelligence ahead of its earnings expected later in May [1]. KeyBanc also reaffirmed Nvidia as an overweight pick, citing its strong generative AI position and favorable inventory trends, naming it a top investment idea alongside Broadcom [1].

Deutsche Bank maintained its buy rating on Tesla following the company’s earnings update, believing the company is reaching a turning point where vehicle deliveries and investor sentiment could stabilize after a turbulent start to the year [1]. In contrast, Goldman Sachs reiterated a neutral rating on Tesla, with its checks indicating that Q3 2026 vehicle deliveries are tracking below consensus, leading to a lowered forecast of 435,000 from 490,000 [2].

Other Notable Analyst Moves

In other tech sector coverage, Morgan Stanley initiated coverage of Duolingo with an overweight rating, pointing to its fast-growing user base, improving margins, and opportunities related to generative AI [1]. Benchmark began coverage of Coinbase with a buy rating and a $252 price target, expecting the cryptocurrency platform to benefit from growing institutional interest in digital assets [1]. Citi opened a 30-day positive catalyst watch on Roblox, anticipating the gaming company could exceed first-quarter bookings expectations based on third-party data [1]. Morgan Stanley also reiterated an overweight rating on SpaceX, citing its "defensive" attributes and potential to drive improvements in "intelligence-per-watt-per-dollar-per-second" [2].

Oracle saw a downgrade from Piper Sandler to neutral from overweight, with the price target reduced to $130 from $190, due to concerns that increasing AI-related investments may pressure margins and free cash flow [1]. HSBC upgraded Intuit to buy from hold, noting its heavy reliance on small businesses and significant untapped growth potential in the mid-market segment [1]. Wolfe Research upgraded Toast to outperform, citing consistent growth, an expanding market, and improving profitability [1].

What to watch

• Apple's May 1 earnings release for insights into iPhone demand and future product guidance [1].
• Nvidia's earnings report later in May for updates on its AI growth trajectory [1].
• Tesla's vehicle delivery figures and investor sentiment for signs of stabilization [1].

The varied analyst calls reflect a complex market environment where the potential for AI-driven growth and new product innovation is balanced against concerns over economic uncertainties, tariff impacts, and competitive pressures.