Apple iPhone 13 seeing strong demand, Lucid stock jumps, Netflix's 'Squid Games' gambit

Yahoo Finance’s Jared Blikre reports on the day's trending tickers.

Video Transcript

ALEXIS CHRISTOFOROUS: I want to say Hello to Jared Blikre, taking a look at our trending tickers today. And a stock that got hit yesterday making a bit of a comeback here today, Jared. That would be Apple. I guess on strong demand for the new iPhone?

JARED BLIKRE: Yeah, a lot of excitement over that. And some preliminary numbers. And I have a number of Street analysts' commentary notes on this. So let's go to the YFI Interactive where we can check out the price action first, you can see it's up about 0.8% today. And the market cap, this always gets me, $2.365 trillion, pretty impressive there.

Looking at a slightly longer-term-- well, this is a five days, we'll go with this first, down about 1.8% but looking over the longer term, year to date, this is one of the mega-caps that isn't up considerably, only about 8%, trailing the S&P 500, 18% or maybe it's a little bit lower than that right now. But nevertheless, over the last few years, you can see this has been one of those juggernaut stocks, up 161%.

Now, getting to that analyst commentary, first UBS, they rated a buy with a price target of $175. They're saying that wait times for the iPhone 13 quote, "suggest strong initial demand across all markets and models. And in both the US and China wait times for the Pro and the Max models, those are materially exceeding corresponding iPhone 12 models." So all of this suggests a stronger growth in average selling prices or what the Street calls ASP in the industry.

All right, also from KGI Securities, they rated an outperform with a price target of 100, 180 actually. They're saying in the first weekend after the iPhone 13 series was officially released, data showed higher demand for the iPhone 13 Pro and Pro Max. Also adding that first-day pre-order data in China also showed higher volume and then saying, strong iPhone 13 series sales should help offset a potential negative impact on Apple-Epic court ruling. So we know that's kind of an overhang for it, could cut into some of its revenue from the App Store in the future. Finally, KGI is saying that they expect this will also be a positive for Apple suppliers like Skyworks, Qorvo, Qualcomm, and Broadcom as well.

Finally, one last note by Bloomberg, "Wall Street is underestimating the sales potential for the iPhone 13 and this could be the best year yet for iPhone sales." If that's the case, I'd say the stock needs to go up a little bit more. That's according to Bloomberg.

ALEXIS CHRISTOFOROUS: All right. It looks like investors are getting pretty excited about Lucid and its long-awaited long-range, electric vehicle which seems to be, they're getting closer to finally debuting it, right?

JARED BLIKRE: Yes. They're going to be shipping customer orders at the end of October. So we're only a month away from that. But this is one of their flagship products, it's a beefed-up model. And let me get to stock price first so we can chart what Lucid is doing today. In our heat map sorting by performance, it is the number one performer in the upper left, up 10% today.

I'm going to give a longer-term chart here, we're going to take a look at the last year. And this kind of gives us an indication, this is the initial SPAC level, it IPO-ed at $10. And then this is when the deal was first announced. We got a lot of excitement in the EV space early in the year, it's kind of tapered off, and you can see we've been trending sideways ever since.

Now, this is a $169,000 limited production Dream Edition of the Air sedan, and it has the longest running distance in the industry at 520 miles. This bests the Tesla Model S sedan, which goes 405 miles. Should also say this is a company that is probably one of the more credible competitors to Tesla. No longer pre-revenue, they're shipping cars, they're making cars.

Also, they got their CEO Peter Rawlinson, he had been the chief engineer for the Model S sedan and that was also as I said, the previous longest running sedan until this newest one came in. And also, if you don't want to pay $169,000, a little bit less, they're going to be offering lower price points with a little bit less range in the future in the coming months. But a lot of excitement over this debut and the announcements that they're going to be shipping cars to customers in the next month.

ALEXIS CHRISTOFOROUS: All right, and finally, Netflix shares eyeing a record close here. I guess there's optimism about its content that is not in English?

JARED BLIKRE: Yeah, I don't know if you've heard of Squid-- let me get-- I actually watch it. I binge-watched it.

ALEXIS CHRISTOFOROUS: Squid Game, do you speak of Squid Game?

JARED BLIKRE: Squid Game. Yeah, Squid Game, thank you.

ALEXIS CHRISTOFOROUS: I have not watched it, no.

JARED BLIKRE: It was so disturbing. The name, the full name eluded me there. This is an interesting move by Netflix. It was obviously compelling enough for me to watch the entire series but it's kind of bizarre sometimes watching these foreign translated series that were obviously made for another audience but if this can resonate, you have to imagine a lot of other hits will. And so analysts are saying this gives Netflix another edge up here in the streaming wars.

Let's take a look at this chart, Netflix has been largely trading sideways over the last year, although it did make a new nominal record high recently but as I pointed out earlier today, you could kind of see a quasi cup and handle formation in here. So if we break through to these recent record highs or break through them, we do see the potential, or I do see the potential for some further momentum to the upside here. So Netflix, let's take a look at the year to date returns, can see not another FAANG high-flyer like Apple, up 11.6% but we'll have to see if some of these FAANG names that haven't gotten a lot of love so much this year, can propel into the year-end.

ALEXIS CHRISTOFOROUS: All right, thanks a lot, Jared Blikre.