Ratings Weekly | Apple, Nvidia, Tesla, SpaceX, Micron, SanDisk, Intel, Dell, Nebius and More to Watch

Here are the biggest calls on Wall Street This Week:

KeyBanc reiterates Apple as Underweight

KeyBanc says its checks show that iPhone 17 carrier survey data for Apple came in “slightly positive” for June.

“Our carrier survey indicates iPhone 17 sell-through seasonally slowed m/m vs. June as some customers wait for the iPhone 18, and in line with expectations, as some stores indicated customers are expressing concern regarding uncertainty on AAPL’s iPhone 18 price actions.”

Morgan Stanley reiterates Nvidia as Overweight

Morgan Stanley says it is “optimistic” about the revenue-sharing plans.

“NVIDIA backstopping neo-cloud investment in exchange for revenue sharing is likely to further polarize the stock. We are definitively on the optimistic side, seeing a large annuity potential with limited downside.”

Wells Fargo reiterates Tesla as Underweight

Wells Fargo says its checks show Tesla deliveries trended lower for July.

“Of the 5 mkts we track, July TSLA deliveries are trending -15% y/y & -48% m/m. July TSLA deliveries are tracking -15% y/y, below VA consensus’s Q3 forecast of -9%.”

Morgan Stanley reiterates SpaceX as Overweight

The firm laid out several positive catalysts for why it is sticking with the stock.

“SpaceX proving it can maintain stickiness on the AI model frontier and, more importantly, translating that to real usage will be key to enabling a sizable rerating to our $300 PT.”

New Street upgrades Micron Technology to Buy from Hold

New Street says Micron shares are still compelling.

“Near-term, we expect gross margins to normalize. This could happen smoothly with no stock impact, or trigger trough fears. In that case, we’d still see the stock finding a bottom at 13x trough EBIT.”

JPMorgan upgrades SanDisk to Overweight from Neutral

JPMorgan reinstated coverage and upgraded the stock, saying that it is best positioned.

“In our view, SNDK is in many respects uniquely positioned to capture the ongoing structural inflection in NAND demand driven by rapid growth in AI inference, with three key dynamics underpinning our OW thesis...”

Bank of America reiterates Intel as Buy

Bank of America says it is bullish on the company’s capital raise.

“Intel (INTC) on Tuesday priced a ~$20bn equity offering, which we estimate results in a ~4-5% EPS dilution on higher share count, but is still a good leading indicator of mgmt’s increasing Foundry conviction.”

Wells Fargo reiterates Dell Technologies as Overweight

Wells Fargo raised its price target to $545 per share from $505.

“We are positive on Dell’s upcoming F2Q27 results (9/3); expect server-driven upside and increased FY27 guide driven by better-than-expected 2H supply outlook. Reit. OW & increasing ests. and PT to $545 (was $505), ~19x CY28 P/E.”

Bank of America reiterates CoreWeave as Buy

Bank of America says it sees a robust margin outlook following CoreWeave earnings.

“Strong quarter with revenue growth of 112% YoY, modestly above Street’s 111%, and operating margin of 5% beat Street estimates by 220bps, attributed to meaningful capacity additions.”

Bank of America reiterates Nebius as buy

Bank of America raised its price target to $310 per share from $280.

“Nebius Group reported robust 2Q26 results with revenue growth of 454% YoY vs. Street’s 430% expectation and EBITDA margin of 40.5%, ahead of Street’s 27.8%, driven by capacity additions and higher-margin revenue streams.”

Daiwa reiterates Disney as buy

Daiwa says it’s sticking with Disney shares.

″...we believe that DIS parks can continue to outperform broader industry trends given DIS’s intellectual property, pricing power, attractions, resorts, merchandise, & expanding cruise capacity.”

JPMorgan resumes Salesforce at overweight

JPMorgan reinstated Salesforce and sees plenty of upside.

“Our favorable view is underpinned by an expected acceleration in the core business in 2HF27 from a near-term perspective, and by our view that concerns about disruption to its position with Enterprises from adoption of frontier AI models and competitive dynamics should be limited to a small portion of the business.”

Morgan Stanley reiterates Cisco as overweight

The bsays shares of Cisco have plenty more room to run following earnings.

“CSCO is seeing broad-based strength across core enterprise and hyperscaler AI, with improving share momentum as the company is facing fewer supply-chain challenges.”