Major U.S. indexes ended Thursday on a mixed note, with the Dow Jones Industrial Average rising 1.14% to 52,900.07. The S&P 500 finished flat at 7,483.24, while the Nasdaq fell 0.80% to 25,832.67. Investor attention focused on significant movements in Apple, Rivian, Tesla, CrowdStrike, and SanDisk, driven by analyst ratings, delivery forecasts, and corporate actions.

Apple Inc.

Apple’s stock rose by 4.84%, closing at $308.63, after reaching an intraday high of $309.42. The 52-week range is $317.4 to $201.50. The positive performance followed a bullish outlook from Bank of America Securities analyst Wamsi Mohan, who maintained a Buy rating and a $380 price target. Mohan highlighted services growth, capital returns, and future AI opportunities as key drivers.

Rivian Automotive Inc.

Rivian’s stock surged 8.44%, closing at $18.63, with an intraday high of $19.79. The 52-week range is $22.69 to $11.57. The increase came after Rivian raised its 2026 delivery forecast to 65,000 to 70,000 vehicles, up from the previous 62,000 to 67,000. The company reported strong production and delivery numbers for the second quarter.

Tesla Inc.

Tesla’s stock fell 7.49%, closing at $393.45, despite reaching an intraday high of $432.35. The 52-week range is $498.82 to $288.77. The decline occurred even though the company reported second-quarter deliveries of 480,126 vehicles, surpassing estimates. Analyst Gene Munster attributed the sell-off to factors such as buying on the rumor and high gas prices.

CrowdStrike Holdings Inc.

CrowdStrike’s stock edged up 0.41%, closing at $193.98. The stock began trading on a split-adjusted basis following its 4-for-1 stock split. Shareholders of record as of June 25 received three additional shares for each share held after the market closed on July 1. The split reduced the per-share price and increased the number of outstanding shares without changing the company’s market value.

SanDisk Corp.

SanDisk’s stock plunged 14.13%, closing at $1745, with an intraday high of $2052.54. The 52-week range is $2354.39 to $40.1. Shares declined as investors rotated out of high-momentum AI hardware and memory stocks. Analyst Wamsi Mohan reiterated a Buy rating and raised the price target to $2,500 from $2,100, citing expectations that the NAND supply-demand imbalance would persist through 2027. Mohan projected $9.1 billion in June-quarter revenue and $37.01 in earnings per share but warned that increased output from China’s Yangtze Memory Technologies could accelerate NAND price declines.

Apple Inc. stock rose more than 4% on Thursday, outperforming a sharply weaker technology sector. The Nasdaq fell 1.63%, while the S&P 500 slipped 0.27%, with technology being the day's weakest-performing sector, down 2.6%. The positive momentum followed a bullish view from Bank of America Securities analyst Wamsi Mohan, who maintained a Buy rating and a $380 price forecast.

App Store and Services Growth

Mohan pointed to specific growth metrics in the fiscal third quarter of 2026. App Store revenue rose 3.2% year over year to $8.8 billion, while total iPhone and iPad downloads increased 1.3% to 8.7 billion. Additionally, App Store dollars per download rose 1.9% year over year to $1.01. Bank of America models 14% year-over-year growth for Apple's total services revenue in the fiscal third quarter of 2026.

The $380 price forecast is based on 37 times the calendar 2027 estimated EPS of $10.27.

AI and New Products as Drivers

Bank of America remains positive on Apple due to strong capital returns, potential in edge AI, and optionality from new products and markets. Mohan noted that the Supreme Court's decision to hear Apple's appeal in the Epic Games case is a constructive development as the company defends its App Store economics. The new Siri AI architecture, combined with Apple silicon, is viewed as an important unlock for future hardware-driven and AI-enabled monetization opportunities.

Technical and Earnings Outlook

Apple continues to trade in an established uptrend. The stock was trading at $306.64, about 4.3% above its 20-day simple moving average of $294.76 and 13.6% above its 200-day moving average of $270.69. The next technical resistance sits near $317.50, close to the stock's 52-week high of $317.40, while initial support is around $287.50.

Apple is expected to report quarterly results on July 30. Wall Street expects earnings of $1.89 per share on revenue of $108.86 billion, compared with $1.57 per share and $94.04 billion in the year-ago period. The stock trades at about 35.6 times earnings.