The Nasdaq 100's monster rally from April's tariff-induced panic has entered rarefied territory, with one technical streak not seen since the heart of the dot-com boom in 1999 now lighting up—and history suggests it may have <a href="https://www.benzinga.com/topic/technology-stocks">more room to run.</a>



After plunging in April under the weight of renewed trade war fears, the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)—which tracks the Nasdaq 100—has stormed back with a stunning 38% gain through July 22.



That alone is impressive. But under the surface, technical analysts are buzzing about something even more remarkable: the index has now traded above its 20-day moving average for 61 consecutive sessions, a bullish streak not seen since 1999.



That's right—this kind of strength has only occurred during some of the most powerful tech bull runs in history.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="560" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23084734/image-329-1024x560.png" alt="" class="wp-image-997112" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23084734/image-329-1024x560.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23084734/image-329-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23084734/image-329-768x420.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23084734/image-329-1536x840.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23084734/image-329-2048x1120.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Only 1999 Beats This Tech Momentum Run</h2>



To find a longer stretch of daily closes above the 20-day moving average, you have to go back to late 1998 into early 1999. That run lasted 76 trading sessions, from mid-October 1998 to early February 1999.



And what came next?



Between Feb. 5, 1999 and Feb. 8, 2000, the Nasdaq 100 skyrocketed 104%, delivering one of its biggest rolling-year gains ever. 



The NASDAQ Composite, heavily weighted with tech and internet stocks, peaked at 5,048.62 on March 10, 2000, before plunging nearly 80% by October 2002. The broader market, including the S&amp;P 500, also declined during this period, though less severely.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="560" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23085858/image-331-1024x560.png" alt="" class="wp-image-997129" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23085858/image-331-1024x560.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23085858/image-331-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23085858/image-331-768x420.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23085858/image-331-1536x840.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23085858/image-331-2048x1120.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3 class="wp-block-heading">Golden Cross: Another Bullish Boost</h3>



In late June, the Nasdaq 100 also triggered a golden cross, a classic bullish signal in technical analysis where the 50-day moving average rises above the 200-day moving average.



According to a backtest using the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), a buy-on-golden-cross, sell-on-death-cross strategy has posted strong results since 2009.



Out of nine trades, eight were profitable, most delivering double-digit returns. That makes the golden cross a historically consistent bullish indicator during strong uptrends, such as the one we're seeing now.



Read Also: <a href="https://www.benzinga.com/markets/tech/25/06/46180484/nvidia-palantir-tech-stocks-to-buy-q3-2025-sectors">Nvidia, Palantir Fuel Historic Tech Rally — And It&#8217;s Far From Done</a>



<h3 class="wp-block-heading">What Happens Next? Look To Momentum—And History</h3>



While nothing is guaranteed, this type of sustained momentum—combined with bullish technical signals—often lays the groundwork for further upside, especially in a market driven by mega-cap tech and AI optimism.



Even if today's rally doesn't mirror the full scale of the late-90s boom, it's hard to ignore that similar conditions are stacking up: rapid price gains, strong breadth, and powerful trend signals.



History suggests the bulls remain firmly in control.



Now Read



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/technicals/25/07/46556295/dow-jones-technical-analysis-july-forecasts-seasonality">The Dow Jones Just Saw A Coveted Golden Cross — But There&#8217;s A Plot Twist This Time</a></li>
</ul>



Image: Shutterstock

Equities

Broad U.S. Equity ETFs

Tech

ETFs

This Nasdaq 100 Signal Last Flashed In 1999—What Came Next Was Insane

Fiserv,&nbsp;Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>)&nbsp;stock tumbled Wednesday after it&nbsp;reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/07/b46567723/fiserv-reports-second-quarter-2025-results" rel="noreferrer noopener">fiscal second-quarter</a> 2025&nbsp;results.



The company reported quarterly revenue growth of 8%&nbsp;year-over-year&nbsp;to $5.52 billion, beating the&nbsp;analyst consensus estimate of $5.20 billion. Growth was 10% in the Merchant Solutions segment and 7% in the Financial Solutions segment. Adjusted revenue increased&nbsp;8%&nbsp;year-over-year&nbsp;to $5.20 billion.&nbsp;



The financial technology and services&nbsp;provider's adjusted EPS of $2.47 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate</a> of $2.43.&nbsp;The quarterly adjusted EPS increased by 16% over the same period last year.&nbsp;



Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/06/46073930/fiserv-shares-are-trading-higher-tuesday-heres-why" rel="noreferrer noopener">Fiserv Stock Jumps After Mastercard Embraces Its New Stablecoin, Bringing FIUSD to 150 Million Merchants Worldwide</a>



Organic revenue grew 8%, led by 9% growth in Merchant Solutions and 7% in Financial Solutions.



The adjusted operating margin increased by 120 bps Y/Y to 39.6%.&nbsp;Adjusted operating margin decreased 200 basis points Y/Y to 34.6% in the Merchant Solutions segment. The margin increased 280 bps Y/Y to 48.7% in the Financial Solutions segment.



<h2 class="wp-block-heading">Acquistion</h2>



Fiserv <a target="_blank" href="https://www.benzinga.com/pressreleases/25/07/b46568275/fiserv-announces-strategic-relationship-with-td" rel="noreferrer noopener">expanded its presence</a> in Canada by signing a multi-year Strategic Managed Services agreement with TD Bank Group. The agreement enables TD Merchant Solutions to adopt Fiserv's technology, including the Clover point-of-sale system, for its merchant operations. The deal strengthens Fiserv's Canadian ties and opens new opportunities to scale Clover hardware and software solutions.



Fiserv also signed a purchase agreement to acquire part of TD's Canadian merchant processing business, adding about 3,400 merchant relationships and 30,000 locations to its portfolio. These merchants will migrate to Fiserv's processing platform and use Clover, reinforcing the company's commitment to serving small and mid-sized businesses with innovative technology.



The companies expect the transaction to close later this year, pending customary approvals. Financial details remain undisclosed.



<h2 class="wp-block-heading">FY25 Outlook</h2>



Fiserv&nbsp;expects organic revenue growth of approximately 10% (<a target="_blank" href="https://www.benzinga.com/news/earnings/25/04/44980804/fiserv-delivers-solid-q1-strong-margins-and-client-wins-but-stock-slides" rel="noreferrer noopener">prior 10%-12%</a>) and adjusted EPS outlook of $10.15-$10.30 (prior $10.10-$10.30), representing&nbsp;growth of 15%-17% Y/Y versus the&nbsp;$10.20&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">analyst consensus estimate</a>.



Fiserv stock plunged over 19% year-to-date. S&amp;P 500 Index (where Fiserv is a constituent) gained over 7%. <a target="_blank" href="https://www.benzinga.com/quote/FI/analyst-ratings" rel="noreferrer noopener">Multiple Wall Street firms</a> slashed their price forecasts on the stock in 2025.



Price Action: FI stock is down 21.30% at $130.65 at last check Wednesday.



Read Next:



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<li><a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46555679/why-this-analog-semiconductor-stock-is-a-top-undervalued-pick" target="_blank" rel="noreferrer noopener">Why This Analog Semiconductor Stock Is A Top Undervalued Pick</a></li>
</ul>



Photo via Shutterstock

Earnings

Fintech

News

Guidance

Movers

Fiserv Stock Tumbles As Outlook Softens Despite Deal With TD

Shares of GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) rose Wednesday after the company posted better-than-expected <a target="_blank" href="https://www.gevernova.com/news/press-releases/ge-vernova-reports-second-quarter-2025-financial-results" rel="noreferrer noopener">second-quarter 2025 earnings</a> and raised its full-year guidance.



The energy transition company reported second-quarter earnings per share of $1.86, beating the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">consensus estimate of $1.69</a>.



Revenue came in at $9.11 billion, exceeding Wall Street&#8217;s expectations of $8.78 billion. That marks an 11% increase from a year ago and 12% on an organic basis, driven by continued strength in both equipment and services.



Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/07/46563985/ge-vernova-gears-up-for-q2-print-here-are-the-recent-forecast-changes-from-wal" rel="noreferrer noopener">GE Vernova Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>



Net income for the quarter was $492 million, with a net margin of 5.4% down 1020 bps. Adjusted EBITDA rose to $770 million, with an Adj. EBITDA margin of 8.5%, up from 6.4% a year ago.



Operating cash flow totaled $367 million, down from $978 million YoY, while free cash flow was $194 million for the quarter. The company ended the quarter with $7.9 billion in cash.



&#8220;We had a productive second quarter, positioning us well to accelerate growth and margin expansion,&#8221; said CEO Scott Strazik. &#8220;We grew our backlog by more than $5 billion and increased Gas Power slot reservation agreements from 50 to 55 gigawatts.&#8221;



GE Vernova&#8217;s backlog rose by $5.2 billion during the quarter, fueled by gains in equipment and service contracts. Gas Power equipment backlog remained at 29 gigawatts, while slot reservation agreements increased to 25 gigawatts. The company also received final investment approval from the Ontario government to build the first small modular reactor (SMR) in the Western world.



<h2 class="wp-block-heading">Segment Highlights</h2>



Power:



<ul class="wp-block-list">
<li>Orders: $7.088 billion, +44% organically.</li>



<li>Revenue: $4.758 billion, up 7% year-over-year, 9% organically.</li>



<li>Segment EBITDA margin expanded by 260 basis points to 16.4%.</li>



<li>Signed 9 GW in new gas equipment contracts, including 7 GW in slot reservations.</li>
</ul>



Wind:



<ul class="wp-block-list">
<li>Orders: Down 5% organically to $2.06 billion.</li>



<li>Revenue: $2.245 billion, up 9% from a year ago, driven by Onshore Wind deliveries.</li>



<li>Segment losses increased due to Offshore Wind tariffs and service costs, partly offset by higher Onshore equipment volume.</li>



<li>Invested over $100 million in its 57,000-unit turbine fleet.</li>
</ul>



Electrification:



<ul class="wp-block-list">
<li>Orders: $3.34 billion, down 31% organically.</li>



<li>Revenue: $2.2 billion, up 23%, led by Grid Solutions.</li>



<li>Segment EBITDA margin improved by 740 basis points to 14.6%.</li>



<li>Equipment backlog grew sequentially by $2 billion across North America, Europe, and Asia.</li>
</ul>



GE Vernova repurchased 1.2 million shares during the quarter and has bought back 5.2 million shares year-to-date through June 30 at an average price of $306.



The Board declared a 25-cent per share dividend, payable August 18 to shareholders of record as of July 21.



<h2 class="wp-block-heading">Updated 2025 Outlook</h2>



GE Vernova raised its 2025 guidance, expecting revenue to trend toward the higher end of its $36 billion to $37 billion range versus $36.952 billion estimate. The company also lifted its adjusted EBITDA margin forecast to 8% to 9%, up from high-single-digit estimates. It also increased its free cash flow guidance from $3.0 billion to $3.5 billion, from the prior $2.0 billion to $2.5 billion range.



Segment guidance includes:



<ul class="wp-block-list">
<li>Power: 6%-7% organic revenue growth and 14%-15% EBITDA margin.</li>



<li>Wind: Mid-single-digit organic revenue decline with $200 million-$400 million in segment losses, trending toward the lower end.</li>



<li>Electrification: ~20% organic revenue growth and 13%-15% EBITDA margin.</li>
</ul>



GE Vernova said its guidance includes the impact of tariffs and inflation, now estimated toward the lower end of $300 million to $400 million, net of mitigation.



CFO Ken Parks said the company is trending toward the higher end of its targets. &#8220;We&#8217;re delivering disciplined revenue growth, margin expansion and positive free cash flow while returning capital to shareholders and maintaining a solid balance sheet,&#8221; Parks said.



Price Action: GEV shares are trading higher by 7.47% to $589.99 premarket at last check Wednesday.



Read Next:



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<li><a href="https://www.benzinga.com/news/politics/25/07/46557704/trump-america-first-agenda-ai-industrial-stocks-defense-sector" target="_blank" rel="noreferrer noopener">Trump&#8217;s Sledgehammer Policies Have Ignited Wall Street&#8217;s Hottest Trade—And It&#8217;s Not AI</a></li>
</ul>



Photo by T. Schneider via Shutterstock

GE Vernova Lifts Outlook As Revenue And Orders Surge

Tesla Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/markets/tech/25/07/46436501/ev-prices-drop-2-8-in-june-as-incentives-surge-amid-tumbling-tesla-sales">sales woes continue</a> as the electric vehicle giant recorded a 21% year-over-year decline in sales in the state of California.



Check out the current price of<a href="https://benzinga.com/quote/tsla"> TSLA stock here</a>.



What Happened: The data, released by the California New Car Dealers Association, or CNCDA, on Tuesday, showcased that the automaker recorded over 41,138 new registrations in the second quarter, a 21.1% decline from the previous year's figure of 52,119 registrations.



Tesla's year-to-date sales through June fell 18.3% compared to the same period in 2024, with registrations dropping to 83,375 from 101,991. The decline also pushed Tesla's market share down to 45.3% from 53.4% a year earlier — an 8.1% slide.



Tesla's second-quarter market share stands at 8.5%, down 2.9% from last year's 11.4% in California. However, the Model Y and the Model 3 continued to be top-selling EVs in the state, with 44,112 units and 31,394 units sold in the state, respectively.



Why It Matters: The news comes in as Tesla is readying itself for the company's second quarter earnings call scheduled to take place on Wednesday after market close. Analysts expect the company to report a second-quarter <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46560027/tesla-q2-earnings-preview-will-robotaxis-ai-wartime-ceo-elon-musk-deliver">revenue of $22.79 billion</a>.



Bank Of America also raised <a href="https://www.benzinga.com/markets/tech/25/07/46536517/bank-of-america-sees-11-upside-for-tesla-stock-despite-ev-credit-phase-out-tariff-risks-promise-to-deliver-unsupervised-fsd">Tesla's price target</a> to $341 ahead of the earnings call, citing confidence from the Robotaxi launch in Austin, which could help the company deliver on the Unsupervised FSD promise by the end of the year.



Piper Sandler analyst Alex Potter also reiterated the $500 price target for the company, saying that President Donald Trump's <a href="https://www.benzinga.com/markets/tech/25/07/46536292/trumps-new-zev-credit-regulations-arent-as-bad-for-elon-musk-says-piper-sandler-tesla-will-still-book-around-3-billion">ZEV regulations</a> wouldn't affect the company as adversely as feared.&nbsp;



Elsewhere, Tesla finally <a href="https://www.benzinga.com/news/restaurants/25/07/46553838/tesla-musk-jump-into-make-america-healthy-again-with-beef-tallow-fries-at-diner">opened the doors</a> to its diner in LA, with the company's Supercharger cum Drive-In Theater cum Diner best described as Hitchhiker&#8217;s Galaxy meets Buc-ee&#8217;s meets EV charging.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="210" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23025231/TSLA-JUL-23-2025-1-1024x210.jpg" alt="" class="wp-image-996565" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23025231/TSLA-JUL-23-2025-1-1024x210.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23025231/TSLA-JUL-23-2025-1-300x61.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23025231/TSLA-JUL-23-2025-1-768x157.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23025231/TSLA-JUL-23-2025-1-1536x314.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23025231/TSLA-JUL-23-2025-1.jpg 1549w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Tesla offers Satisfactory Momentum and Quality, while scoring well on the Growth metric, but offering poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!



Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>



Read Next:



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<li><a href="https://www.benzinga.com/markets/tech/25/07/46563372/elon-musks-xai-plans-to-raise-12-billion-in-debt-to-buy-nvidia-chips-and-build-one-of-the-worlds-largest-ai-superclusters-report">Elon Musk&#8217;s xAI Plans To Raise $12 Billion In Debt To Buy Nvidia Chips And Build One Of The World&#8217;s Largest AI Superclusters: Report</a></li>
</ul>



Photo Courtesy: Around the World Photos On Shutterstock.com

TSLA

Tesla Sales Drop 21% In California Ahead Of Q2 Earnings — Market Share Slips Even As Model Y, Model 3 Remain Top EVs

Despite holding the highest policy rate among G-10 nations, Jeffrey Roach, the Chief Economist at LPL Financial, emphasizes that while the administration&#8217;s lobbying for lower rates is not new, the Federal Reserve&#8216;s independence in pursuing its mandate remains paramount.



What Happened: According to Roach, the U.S. Fed has no immediate reason for aggressive rate cuts, even though its G-10 peers have lower rates.



As illustrated by the graphic shared by LPL Financial with <a href="https://www.benzinga.com">Benzinga</a>, the U.S. Federal Open Market Committee&#8217;s Target Rate stands noticeably above those of Japan, Canada, the Euro Area, and the U.K., extending to mid-2025.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="671" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23035250/image002-5-1024x671.png" alt="" class="wp-image-996635" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23035250/image002-5-1024x671.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23035250/image002-5-300x197.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23035250/image002-5-768x504.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23035250/image002-5-1536x1007.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/23035250/image002-5-2048x1343.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">(Source: LPL Financial)</figcaption></figure>



Roach acknowledges this disparity but posits that &#8220;The exceptional nature of our economy, the depth of our capital markets, and the safety of our legal structure often warrant a policy rate above international rates.&#8221;



Crucially, Roach defines &#8220;Fed Independence&#8221; as &#8220;the ability to pursue their congressional mandate (full employment and stable prices) without outsider influence.&#8221;



He highlights that while good central banking considers an &#8220;integrated international economy,&#8221; it must remain &#8220;independent of political pressure if able to perform duties without fear of getting fired without cause.&#8221;



The LPL economist asserts that current economic conditions do not support dramatic monetary easing. &#8220;There is no reason to aggressively cut rates down to one or two percent when inflation is above the Fed's target, unemployment is low, and the economy is still growing,&#8221; Roach stated.



He suggests the Fed might &#8220;shave off a few quarter points by the end of the year if inflation stabilizes,&#8221; but a significant downward move is not justified by the data.



See Also: <a href="https://www.benzinga.com/markets/earnings/25/07/46565084/texas-instruments-reports-shallow-auto-recovery-cites-geopolitical-risks-and-tariff-impact-on-su">Texas Instruments Reports &#8216;Shallow&#8217; Auto Recovery, Cites Geopolitical Risks And Tariff Impact On Supply Chains</a>



Why It Matters: Amid the ongoing backdrop of President Donald Trump urging Fed Chair Jerome Powell to slash interest rates, economists Mohamed El Erian and Jeremy Siegel have urged Powell to resign gracefully.



<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46542478/mohamed-el-erian-says-jerome-powell-should-resign-to-protect-feds-independence-as-trump-escalates-attacks-over-mission-creep">El Erian noted</a> that safeguarding the Fed's operational autonomy is crucial and suggested that this objective could be achieved if Powell steps down. 



"If Chair Powell's objective is to safeguard the Fed's operational autonomy (which I deem vital), then he should resign," wrote El-Erian.



On the other hand, <a href="https://www.benzinga.com/markets/equities/25/07/46538669/us-stocks-likely-to-open-on-a-mixed-note-ahead-of-coca-cola-gm-lockheed-martin-earnings">Siegel said</a>, &#8220;Some will argue that resignation under political pressure would undermine the central bank&#8217;s autonomy. I believe the opposite. A graceful, voluntary exit now could shield the institution from greater political intervention later.&#8221; 



&#8220;If the economy weakens, it will be Trump&#8217;s Fed Chair in place—there&#8217;s no one else to blame. If the economy holds steady or improves, little would change in terms of perception, and the Fed&#8217;s independence would remain intact,&#8221; he added.



Price Action: The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 95.3% likelihood of the Federal Reserve keeping the current interest rates unchanged in its July meeting. 



The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Wednesday. The SPY was up 0.40% at $631.39, while the QQQ advanced 0.22% to $562.50, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46513468/bitcoin-miner-iren-could-surge-1572-as-sotp-valuation-pegs-300-target-hedge-fund-manager-eric-jackson-says-were-cooking-with-gas" target="_blank" rel="noreferrer noopener">Bitcoin Miner IREN Could Surge 1,572% As SOTP Valuation Pegs $300 Target — Hedge Fund Manager Eric Jackson Says, ‘We&#8217;re Cooking With Gas&#8217;</a></li>
</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Image via Shutterstock

Federal Reserve

Federal Reserve Rates 'Justified' Despite Being Highest Among G-10 Peers, Says LPL Economist As Trump Pressures Jerome Powell To Exit

Bitcoin rose, but other major coins pulled back Tuesday as investors weighed the implications of a falling U.S. dollar and yields on government debt.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:15 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+1.40%</td><td>$119,262.73</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.99%</td><td>$3,747.04</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.58%</td><td>$0.2664</td></tr></tbody></table></figure>



What Happened: Bitcoin climbed to an intraday high of $120,269.97 before sliding to the early $119,000s overnight. The coin's trading volume rose by 6.14% over the last 24 hours.



The rise comes <a href="https://www.benzinga.com/markets/commodities/25/07/46542011/gold-surges-above-3400">amid a weakening dollar and falling Treasury yields</a>, as expectations for interest rate cuts remain elevated. Spot gold also surged to its highest point in over a month.



Ethereum's advance, on the other hand, calmed down as investors began taking profits after the second-largest cryptocurrency went beyond $3,800. The coin was still up 20% in a week.



Cryptocurrency liquidations hit $390 million in the last 24 hours, with $256 million in long positions erased. Ethereum alone recorded $130 million in liquidations.&nbsp;



Bitcoin's open interest rose 1.12% in the last 24 hours to $86.20 billion, while funds locked in Ethereum's derivatives declined by 3.36%.



"Greed" sentiment strengthened from 72 to 74 in the last 24 hours, according to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 10:15 p.m. ET)</th></tr></thead><tbody><tr><td>Pudgy Penguins (PENGU)</td><td>+21.42%</td><td>$0.04528</td></tr><tr><td>Flare (FLR)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+14.90%</td><td>$0.02414</td></tr><tr><td>Bonk (BONK)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+7.45%</td><td>$0.00003744 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.95 trillion, following a modest jump of 0.78% from the previous day.



Major stock indexes closed in the green on Tuesday. The Dow Jones Industrial Average climbed 179.37 points, or 0.40%, settling at 44,502.44. The S&amp;P 500 gained &nbsp;0.06% to end at a new record high of 6,309.62. The tech-focused Nasdaq Composite, however, slid 0.39% to close at 20,892.69.



Investors parsed Treasury Secretary Scott Bessent's latest remarks during a Fox Business interview, where he <a href="https://www.foxbusiness.com/politics/trump-considering-meeting-chinas-xi-near-future-amid-possible-tariff-pause-extension">said </a>the U.S. will &#8220;be working out what is likely an extension&#8221; of the Aug. 12 tariff deadline with China.



The market will likely shift attention to the "Mag 7" earnings, as Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) are set to report earnings after the closing bell Wednesday.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Widely followed chartist Ali Martinez noted Bitcoin's consolidation around the $121,000 mark, with buying pressure suggesting that the rally would sustain.



"If momentum holds, the next levels to watch are $131,000, $144,000, and $157,000," Martinez predicted.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">After breaking out of a channel, Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has reached its first target at $121,000. It is now consolidating at this level, but current buying pressure suggests the uptrend may continue. If momentum holds, the next levels to watch are $131,000, $144,000, and $157,000. <a href="https://t.co/hwKYEov4Br">pic.twitter.com/hwKYEov4Br</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1947749489747628272?ref_src=twsrc%5Etfw">July 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another well-known cryptocurrency analyst and trader, Michaël van de Popp,e said that while Ethereum and altcoins are in a bull market, <a href="https://www.benzinga.com/markets/commodities/25/07/46542011/gold-surges-above-3400">rising gold prices</a> may trigger a correction in the days to come.



"It [Gold] broke upwards again, and that&#8217;s usually not a great sign for risk-on assets," the analyst added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We&#39;re in a bull market on <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> and <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a>. However, if there&#39;s going to be a correction in the coming days/weeks, I would assume that Gold is going to make another run towards a new ATH. It broke upwards again, and that&#39;s usually not a great sign for risk-on assets. <a href="https://t.co/czjDuhB5I2">pic.twitter.com/czjDuhB5I2</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1947740681612505367?ref_src=twsrc%5Etfw">July 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Travis Wolfe on Shutterstock.com



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46563036/elon-musks-spacex-moves-its-bitcoin-for-first-time-in-3-years-analytics-firm-notes-over-150-million-worth-of-coins-moved-to-fresh-address">Elon Musk&#8217;s SpaceX Moves Its Bitcoin For First Time In 3 Years, Analytics Firm Notes Over $150 Million Worth Of Coins Moved To Fresh Address</a></li>
</ul>

Cryptocurrency

$BTC

$DOGE

$ETH

GOOGL

Bitcoin Rises Amid Falling Dollar; Ethereum, Dogecoin Dip: Analyst Warns Gold Movement Toward All-Time High 'Not A Great Sign' For ETH, Altcoin Investors

Japanese Prime Minister Shigeru Ishiba is facing mounting calls to resign after a stinging election loss, just as U.S. President Donald Trump announced a landmark $550 billion <a href="https://www.benzinga.com/markets/economic-data/25/07/46562556/trump-says-550-billion-trade-deal-with-japan-reached-that-will-create-thousands-of-jobs-there-has-never-been-anything-like-it">trade deal with Japan</a>.



What Happened: On Wednesday, senior executives of Japan's ruling Liberal Democratic Party said that Ishiba's resignation is now seen as inevitable following the coalition's poor performance in Sunday's House of Councillors election, <a href="https://mainichi.jp/english/articles/20250723/p2g/00m/0na/019000c">reported </a>Japanese newspaper The Mainichi.



The prime minister is expected to make a final decision in August amid rising discontent within party ranks.



However, previously, the BBC <a href="https://www.bbc.com/news/articles/c8xvn90yr8go">reported</a> that Ishiba stated he has no plans to resign and will focus on trade negotiations. 



At the time of writing, markets were responding positively to the trade deal announcement, with the Nikkei 225 surging over 3% to a new 52-week high.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/45807465/dan-ives-calls-musk-trump-feud-a-twilight-zone-moment-but-bullish-on-tesla-and-autonomous-future-not-good-for-either-side" target="_blank" rel="noreferrer noopener">Dan Ives Calls Musk-Trump Feud A ‘Twilight Zone Moment&#8217; But Bullish On Tesla And Autonomous Future: ‘Not Good For Either Side&#8217;</a>



Why It's Important: Japan's ruling coalition lost its majority in the upper house after a closely contested election. The coalition of the LDP and Komeito secured only 47 of the 50 seats needed to retain control.



The loss, following last year's lower house defeat, weakens the coalition's political influence.



Meanwhile, Trump revealed on Tuesday that the U.S. has reached a sweeping trade agreement with Japan. He said the deal will bring $550 billion in Japanese investment to the U.S., with America claiming 90% of the profits.



Trump said the agreement includes Japanese market access for U.S. cars, trucks, rice, and agricultural products, along with reciprocal 15% tariffs on imports.



The deal follows Trump's earlier threats to impose tariffs as high as 35% on Japanese goods if no deal was reached by August 1.



Read Next:



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<li><a href="https://www.benzinga.com/markets/tech/25/06/45810135/walmart-microsoft-disney-slash-jobs-as-trump-tariffs-ai-push-corporate-america-into-layoff-mode" target="_blank" rel="noreferrer noopener">Walmart, Microsoft, Disney Slash Jobs As Trump Tariffs, AI Push Corporate America Into Layoff Mode</a></li>
</ul>



Photo Courtesy: A.PAES on Shutterstock.com



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Japan PM Ishiba Resignation Seen As Inevitable, Decision Expected In August: Report

Elon Musk's artificial intelligence startup xAI is reportedly seeking to raise up to $12 <a href="https://www.benzinga.com/markets/tech/25/06/45989796/elon-musks-xai-seeks-5-billion-in-debt-faces-lukewarm-demand-even-with-12-yields-on-the-table-report">billion in debt</a> to fund a massive AI supercomputing infrastructure powered by Nvidia Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.



What Happened: xAI is working with Valor Equity Partners to line up financing from lenders, with the capital earmarked for purchasing high-end Nvidia GPUs, <a href="https://www.wsj.com/tech/ai/elon-musk-x-ai-funding-feecede1?mod=tech_lead_pos1">reported</a> the Wall Street Journal, citing people familiar with the situation.



The chips would be leased back to xAI to support its AI chatbot Grok and broader large language <a href="https://www.benzinga.com/markets/tech/25/07/46335602/elon-musk-s-xai-launches-grok-4-with-phd-level-ai-debuts-in-300-month-supergrok-tier">model training efforts</a>.



On Tuesday, Musk posted on X, formerly Twitter, that xAI is currently training Grok on 230,000 GPUs, including 30,000 Nvidia GB200 AI chips. He also revealed that a new supercluster with 550,000 GB200 and GB300 chips will soon be operational.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">230k GPUs, including 30k GB200s, are operational for training Grok <a href="https://twitter.com/xai?ref_src=twsrc%5Etfw">@xAI</a> in a single supercluster called Colossus 1 (inference is done by our cloud providers). At Colossus 2, the first batch of 550k GB200s &amp; GB300s, also for training, start going online in a few weeks. As Jensen… <a href="https://t.co/bLvr4aS23J">https://t.co/bLvr4aS23J</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1947701807389515912?ref_src=twsrc%5Etfw">July 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://www.benzinga.com/real-estate/25/07/46522335/opendoor-stock-frenzy-continues-is-40-per-share-the-next-stop?utm_source=articleShare" target="_blank" rel="noreferrer noopener">Opendoor Stock Frenzy Continues—Is $40 Per Share The Next Stop?</a>



In another post, he outlined xAI&#8217;s plan to deploy 50 million units of H100-equivalent AI compute within five years.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/xai?ref_src=twsrc%5Etfw">@xAI</a> goal is 50 million in units of H100 equivalent-AI compute (but much better power-efficiency) online within 5 years&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1947704195844608094?ref_src=twsrc%5Etfw">July 22, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It's Important: Earlier this month, it was announced that Musk&#8217;s xAI has <a href="https://www.benzinga.com/markets/tech/25/07/46187301/elon-musks-xai-secures-10-billion-in-debt-and-equity-amid-soaring-burn-rate-as-ai-arms-race-intensifies">raised $10 billion</a> — $5 billion in debt and $5 billion in strategic equity — to expand its AI infrastructure.



The latest funding talks come just weeks after the Financial Times reported xAI was exploring a new equity round that could value the company between $170 billion and $200 billion.



At the time, Musk said <a href="https://www.benzinga.com/markets/tech/25/07/46380521/elon-musk-rejects-reports-that-xai-is-looking-to-raise-additional-funds-at-200-billion-valuation-we-have-plenty-of-capital">xAI was not seeking capital</a>, asserting, "We have plenty of capital."



However, sources told WSJ the new financing may include lender-imposed conditions such as repayment within three years and borrowing caps to limit risk.



xAI's ambitious plans signal intensifying competition in the global AI arms race, where rivals like OpenAI, Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and China's DeepSeek are also scaling up infrastructure.



According to Benzinga&#8217;s Edge Stock Rankings, Nvidia maintains strong upward momentum across short, medium and long-term timeframes. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">Additional performance details can be found here</a>.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22231633/Screenshot-2025-07-23-at-8.45.54%E2%80%AFAM.png" alt="" class="wp-image-996392"/></a></figure>



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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: JRdes / Shutterstock.com

GOOG

NVDA

Elon Musk's xAI Plans To Raise $12 Billion In Debt To Buy Nvidia Chips And Build One Of The World's Largest AI Superclusters: Report

Electric vehicle giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is expected to provide an update on demand and the performance of its robotaxi tests when the company reports its second-quarter financial results after the <a href="https://www.benzinga.com/earnings">market close on Wednesday.</a>



Here are the earnings estimates, what analysts are saying and key items to watch.



Earnings Estimates: Analysts expect Tesla to report second-quarter revenue of $22.79 billion, down from $25.50 billion in last year's second quarter, according to data <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0722">from Benzinga Pro.</a>



The company has missed analyst estimates for revenue in three straight quarters and missed estimates in six of the last seven quarters overall.



Analysts expect Tesla to report second-quarter earnings per share of 42 cents per share, down from 52 cents per share in last year's second quarter. The company has missed analyst estimates for earnings per share in two straight quarters and missed estimates in six of the last seven quarters overall.



Read Also: <a href="https://www.benzinga.com/news/restaurants/25/07/46553838/tesla-musk-jump-into-make-america-healthy-again-with-beef-tallow-fries-at-diner">Tesla, Musk Jump Into Make America Healthy Again With Beef Tallow Fries At Diner</a>



What Analysts Are Saying: Tesla analysts are mixed ahead of the second-quarter report, with several Neutral ratings and downgrades expected in July.



One analyst <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46553680/tesla-stock-is-trending-tuesday-whats-going-on">who remains bullish </a>on Tesla is Wedbush analyst Dan Ives, a frequent Tesla bull. Ives maintained an Outperform rating and $500 price target on Tesla ahead of the earnings report.



Ives said the Street will focus on demand stabilization and robotaxi expansion. The analyst also highlighted the differences between Tesla&#8217;s performance in July and April.



"On the April earnings call the big focus was Musk officially leaving the Trump Administration and pressure to refocus on being CEO on Tesla…now investors are seeing more of a ‘wartime CEO' as Elon is laser focused on the Robotaxi expansion in Austin," Ives said.



Ives said more cities are coming for the Robotaxi expansion, calling it a "key autonomous initiative for the company."



"Front and center for investors are the AI initiatives happening under the hood of Tesla with the Street listening carefully for any more direction around a Tesla investment into xAI which will require a shareholder vote later this year."



Ives said Tesla is a clear future leader in artificial intelligence and robotics and that could be highlighted during the financial results and conference call.



"We believe the autonomous valuation is worth $1 trillion alone to the Tesla story over the next few years."



The analyst said Tesla had weakness in China in prior quarters, but the region could be rebounding based on June sales, which were up year-over-year for the first time in eight months.



"If Musk continues to lead and remain in the driver's seat at this pace, we believe Tesla is on a path to an accelerated growth path over the coming years."



Ives said Tesla is at a "positive crossroads" in its story with Musk focused as the CEO, robotaxi expansion beginning, demand stabilization coming and the company ready to embark on aggressive AI growth.



Bank of America analysts maintained a Neutral rating on Tesla <a href="https://www.benzinga.com/markets/tech/25/07/46536517/bank-of-america-sees-11-upside-for-tesla-stock-despite-ev-credit-phase-out-tariff-risks-promise-to-deliver-unsupervised-fsd">ahead of the report</a>, while raising the price target from $305 to $341.



The analysts raised the price target due to optimism for robotaxis and the promise to have unsupervised FSD in place by the end of 2025. Bank of America remained cautious about the pressures on the EV industry overall due to the elimination of federal tax credits.



"Tesla is the most challenged among the three OEMs given disappointing deliveries, IRA incentives phasing out, and tariffs," the analysts said.



Here are other recent<a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"> analyst ratings on Tesla</a> and their price targets:



<ul class="wp-block-list">
<li>Goldman Sachs: Maintained Neutral rating, lowered price target from $315 to $285</li>



<li>Mizuho: Maintained Outperform rating, lowered price target from $390 to $375</li>



<li>Guggenheim: Reiterated Sell rating with $175 price target</li>



<li>William Blair: Downgraded from Outperform to Market Perform rating with no price target</li>
</ul>



Key Items to Watch: Investors and analysts will be watching many items in Tesla's financial results and conference call including robotaxis, tariffs, Tesla Diner, Cybertruck demand, EV tax credits, Trump administration impact, China, Europe and a vote on xAI ownership.



Tesla already reported <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46221375/tesla-stock-jumps-on-strong-q2-deliveries">second-quarter deliveries</a> of 384,122, which were down from 443,956 in last year's second quarter. Production of 410,244 units in the quarter was down slightly from 410,831 in last year's second quarter.



Among the items closely watched in demand is the Cybertruck. While Tesla doesn't break out the newer vehicle individually, reports suggest that the Cybertruck <a href="https://www.benzinga.com/markets/large-cap/25/07/46475391/tesla-cybertruck-bet-not-paying-off-ford-gm-outsell-ev-giant">has fallen behind</a> the F-150 Lightning and Hummer EV for third place among electric pickup trucks.



Original production plans called for capacity to make 250,000 Cybertrucks annually, but the vehicle is selling less than 50,000 per year. Tesla could comment on the future of the vehicle.



Tesla probably won't comment on or take action regarding its Bitcoin (CRYPTO). Still, it could become a future catalyst with the elimination of corporate tax credits for EV companies acquired by other automakers.



Tesla CEO Elon Musk will likely be asked multiple questions about the current White House administration and President Donald Trump. After a close friendship, the two had a falling out that could spill over to Tesla.



Trump threatened to look into the subsidies that Musk-related companies receive. Trump has also nominated a head of NHTSA who is opposed to autonomous vehicles, a potential roadblock to Tesla's robotaxi growth.



After not giving much color on full-year guidance after first-quarter results, investors and analysts will want to hear more. Tesla said its 2025 guidance would be revisited in the second-quarter update, which will be released on Wednesday.



Timelines from the company will be closely watched with the first-quarter update, which is expected to confirm that the company remains on track to start production of more affordable models in the first half of 2025 and for the Cybercab to begin volume production in 2026.



TSLA Price Action: Tesla stock was up 1.1% to $332.11 on Tuesday versus a 52-week trading range of $182.00 to $488.54. Tesla stock is down 12.4% year-to-date in 2025.



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Photo: Trygve Finkelsen on Shutterstock.com

Analyst Color

Price Target

Previews

Reiteration

Analyst Ratings

Trading Ideas

Tesla Q2 Earnings Preview: Will Robotaxis, AI & 'Wartime CEO' Elon Musk Deliver?

Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) could show investors and analysts growth in several areas, such as YouTube, cloud and AI when the company reports second-quarter financial results<a href="https://www.benzinga.com/earnings"> after market close Wednesday.</a>



Here are the earnings estimates, what experts are saying ahead of the report and key items to watch.



Earnings Estimates: Analysts expect Alphabet to report second-quarter revenue of $93.72 billion, up from $84.74 billion in last year's second quarter, according to data<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0722"> from Benzinga Pro.</a>



Alphabet has beaten analyst estimates for revenue in 10 straight quarters.



Analysts expect Alphabet to report second-quarter earnings per share of $2.17, up from $1.89 in last year's second quarter. The company has beaten analyst estimates for earnings per share in nine straight quarters.



What Experts Are Saying: Freedom Capital Markets Chief Global Strategist Jay Woods says that Magnificent 7 member Alphabet has "been anything but" magnificent.



"The company has been facing continual headwinds due to antitrust and litigation risk, AI competition disrupting search and a massive CapEx spend," Woods said in a weekly <a href="https://jaywoods.substack.com/">newsletter</a>.



Woods said Alphabet stock is down year-to-date and 11% off of all-time highs. With shares "stuck in neutral," Woods said the company could see the stock trade higher after the financial results.



"If the company can address these concerns and focus on the positives out of its YouTube and Waymo divisions, it could be back on the upswing."



Woods said technically the stock is in a key consolidation area when looking at 50- and 200-day moving averages.



"The good news is that overall momentum continues to favor the upside."



The market expert said a potential run to $200 could happen from a nice pop on earnings and shares could hit all-time highs.



Raymond James analyst Josh Beck maintained an Outperform rating and $185 price target on Alphabet ahead of the earnings report.



The analyst said search resilience and cloud momentum could be positive surprises in the quarter.



Beck also said the U.S. Department of Justice trial overhang remains, but closing comments were positive and the company might not need to divest its Chrome business.



"Bigger picture, we see the narrative potential shifting from AI Laggard to AI Leader and recommend long positions into GOOG and believe a few insightful comments from the management team," Beck said.



The analyst is looking for management to indicate that it has accelerating AI search momentum, manageable DOJ headwinds and relative AI cost inflation resilience.



Beck highlighted that Alphabet's forward (2026) price-to-earnings ratio of 17.8x trades at a discount to the average of peers like Meta Platforms, Microsoft, Nvidia and Apple.



Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45548615/alphabet-well-positioned-for-google-search-dominance-analyst-says-can-navigate-the-shift-to-ai-search">Alphabet &#8216;Well Positioned&#8217; For Google Search Dominance: Analyst Says Can &#8216;Navigate The Shift To AI Search&#8217;</a>



Key Items to Watch: Most eyes will be on AI and cloud when Alphabet reports second-quarter financial results and tries to continue its streak of revenue and earnings per share beats to consensus estimates.



The company's search business continues to see pressure from AI and some analysts and experts point to the growth of AI and chatbots hurting Alphabet's key Google Search unit. Look for Alphabet to share ways it&#8217;s working with AI and making search better.



YouTube could be a positive in the quarter and one of the company's key growth units.



The company said it saw &#8220;robust momentum&#8221; across its business lines, highlighting strength in Google Search, YouTube, subscriptions and Google Cloud in <a href="https://www.benzinga.com/25/04/44995955/alphabet-q1-earnings-highlights-google-search-youtube-cloud-show-robust-momentum">the first quarter. </a>



A strong report with growth in cloud, search and YouTube could help send shares higher and lower fears of headwinds against the company.



The company could also highlight<a href="https://www.benzinga.com/markets/tech/25/07/46460860/made-by-google-2025-confirmed-for-august-20-pixel-10-lineup-ai-powered-android-16-and-pixel-watch-4-set-to-headline"> its upcoming</a> Made By Google 2025 event confirmed for Aug. 20. Alphabet is set to highlight new Pixel devices, the Pixel Watch 4 and AI-powered software upgrades, according to reports.



GOOG Price Action: Alphabet stock closed up 0.50% to $192.11 on Tuesday versus a 52-week trading range of $142.66 to $208.70. Alphabet stock is up 0.8% year-to-date, marking the third-worst performance by a Magnificent 7 stock with Apple and Tesla negative year-to-date.



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Alphabet (Google) Q2 Earnings Preview: Market Expert Says Mag 7 Stock 'Has Been Anything But' Magnificent

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