Markets were mixed on Tuesday as the Nasdaq continued to advance following its record close on Monday. Apple (AAPL) shares gained following its record close yesterday and after the results of its Worldwide Developers Conference. Shares of Twitter (TWTR) rose as it will be added to the S&P 500 later this week.
For Tesla (TSLA) , pressured by CtW Investment Group, shareholders are expected to vote on Elon Musk's role as chairman and the status of several directors. The company's lagging share price and Model 3 production issues are among its many troubles.
Jim Cramer: Tech Can't Do it All Alone
TheStreet's Jim Cramer writes, "Yes, bulls should be thrilled that the NASDAQ remains strong. You always love a rally that's lead by tech, as it represents 25% of the S&P 500. Without it things are hopeless."
"However, what about everything else?" asks Cramer, "The truth is that tech's leading. But very few stocks away from tech are following and that's threatening the advance and will, most assuredly end it if there isn't some more following, especially because we are beginning to see some fraying in the tech fabric already."
Intel's PC Business Faces an Increasingly Tough Fight Against AMD and Qualcomm
Real Money columnist Eric Jhonsa says, "As Intel's (INTC) PC chip R&D teams keep making the best of a difficult manufacturing situation, a resurgent Advanced Micro Devices (AMD) and a hungry Qualcomm (QCOM) keep launching fresh attacks."
"That", Jhonsa adds, "along with mixed PC sales trends, could make it tough for the chip giant to grow its PC CPU sales over the short-to-intermediate term, even if they're unlikely to fall off a cliff."
Coffee and Texas Tea Are for Closers: How I'm Playing Starbucks and Oil Stocks
"So, Howard Schultz steps down as Executive Chairman at Starbucks Corp. (SBUX) and will become Chairman Emeritus. The stock sold off overnight in response to this news, as speculation ran amok that Schultz might be mulling a run for political office. The man who grew the business from a mere 11 stores to the behemoth that it became over a nearly four-decade (broken) run is leaving for other, if not greener pastures. Greener pastures?," observes Real Money columnist Stephen Guilfoyle.
On oil, Guilfoyle says, "There are so many moving parts. I have for the most part steered clear of exploration, and toward oil services as WTI Crude has made its way from highs above $72 a barrelback toward potential $64/$65 support -- an area of resistance not so long ago. What do we know? Easy."
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