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Tech stocks led gains on the major indexes Friday

Key Takeaways

• AI stocks surged Friday, in what could point to renewed confidence in the sector after a string of positive news.
• UBS analysts said that while the AI trade has pulled back in recent weeks, they remain bullish on the sector's growth.

Are investors ready to pile back into the AI trade?

Tech stocks led the major indexes higher Friday, with many AI investor favorites among the top performers, in what could be a sign of renewed confidence in the sector.

Shares of cloud computing giant Oracle (ORCL), which slumped recently amid worries about its dependence on a few big AI customers, saw its shares pop over 8% Friday afternoon following reports that it's set to become a major investor in a new TikTok joint venture.

Memory chip supplier Micron Technology (MU) surged over 6%, extending yesterday's gains after its quarterly results topped analysts' expectations on AI-driven demand. Advanced Micro Devices (AMD) was up close to 6%, and Nvidia (NVDA) climbed 3% amid reports the Trump administration has kicked off its review of the chipmaker's H200 chip exports to China. Other semiconductor stocks also rose, lifting the PHLX Semiconductor Sector Index (SOX) up close to 3%.

Server maker Super Micro Computer (SMCI), data analytics software firm Palantir (PLTR), and networking provider Arista Networks (ANET) climbed too.

Why This Matters to Investors

The AI boom has driven much of the market's gains in the last few years, but the trade has stumbled in recent weeks amid worries about circular deals that drew parallels to the dotcom bubble. Friday's big gains in the wake of some positive news this week could point to improving sentiment around the sector, however.

Shares of Google parent Alphabet (GOOGL) and Palo Alto Networks (PANW) edged up about 1% after announcing a multibillion-dollar deal expanding an existing partnership. As part of the deal, Google said its cloud customers will get access to new Palo Alto Networks cybersecurity features, while Palo Alto Networks will use Google models to power its copilots and have access to Google Cloud’s Vertex AI platform.

UBS analysts said that while the AI trade has suffered in recent weeks, they remain bullish on the sector's growth. "Notwithstanding the uncertainty, we remain constructive on the theme amid a resilient earnings growth outlook," the analysts wrote in a Friday note.

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With Friday's losses, Nike shares have lost about a fifth of their value in 2025.

Key Takeaways

• Nike shares slumped Friday after the athletic apparel giant gave a weaker-than-expected outlook and warned of sales headwinds in China.
• The shoe maker's fiscal second-quarter revenue and earnings beat analysts' estimates as sales in North America rose, but sales in China sank.

Nike shares tumbled Friday, despite quarterly profits that topped estimates, as a weaker-than-expected outlook and headwinds in China weighed on sentiment.

The shares were down nearly 10% to about $59 in recent trading, making Nike (NKE) one of the worst-performing stocks in the S&P 500 Friday, at a time when broader markets gained.

The athletic apparel giant posted earnings per share of $0.53 for the fiscal second quarter, well above the $0.38 analysts surveyed by Visible Alpha anticipated. Revenue climbed 1% year-over-year to $12.4 billion, ahead of projections. Nike benefited from a 9% jump in sales in North America, but its sales in China sank 17%, with a 21% drop in shoe sales.

CFO Matt Friend told investors on Thursday's earnings call that the company expects sales headwinds in China could continue for the rest of the fiscal year before Nike returns to growth, according to a transcript provided by AlphaSense. Friend said Nike expects third-quarter revenue to drop by low-single digits, while analysts had expected a gain, with growth in North America offset by continued weakness in China.

Why This Matters to Investors

Nike's turnaround efforts have shown some signs of progress, but could take more time in China. The stock's drop Friday, on track to mark its largest one-day loss since President Donald Trump's "Liberation Day" tariffs announcement in April, suggests investors were looking for more signs of improvement.

CEO Elliott Hill said Nike is "in the middle innings" of its turnaround plan, which he introduced around a year ago, shortly after taking over as CEO. That plan has involved fewer promotional events, and renewing Nike's focus on creating new products to win customers.

In a note to clients Friday, bullish analysts at Bank of America said Nike's turnaround plan looks to be working so far, though they were disappointed by its results in China. They reiterated a "buy" rating for the stock, though they lowered their price target to $73 from $84.

With Friday's losses, Nike shares have lost about a fifth of their value in 2025.

News of the day for Dec. 19, 2025

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Nike stock is sinking Friday after the company said its sales struggles in China will likely continue.

Stock futures are little changed Friday after the S&P 500 and Dow snapped four-day losing streaks yesterday; Friday is the final quadruple witching day of the year, with a record amount of options contracts set to expire today; Nike stock is plunging amid concerns about sales weakness in China; TikTok reportedly has agreed to a deal to give American investors including Oracle a controlling stake; and FedEx earnings handily topped Wall Street expectations. Here's what you need to know today.

Stocks Holding Steady After S&P 500, Dow Snap Skids

Stock futures are hovering near unchanged this morning after a tech-fueled rally sent major indexes sharply higher yesterday. S&P 500 futures were flat recently, while those linked to the tech-heavy Nasdaq added 0.1% and Dow Jones Industrial Average futures slipped 0.1%. All three major indexes gained on Thursday after inflation data for November was better than expected, with the Nasdaq leading the charge on a tech rally that was sparked by strong earnings from memory chip maker Micron Technology (MU). Bitcoin was trading around $88,000 this morning after dipping below $85,000 yesterday. Gold futures were down 0.2% to about $4,355 an ounce after briefly setting a new high above $4,400 on Thursday. The yield on the 10-year Treasury note was at 4.15% after slipping to 4.12% Thursday.

Quadruple Witching Day is Here

Friday could make for a particularly volatile day of trading, as a record amount of options contracts are set to close today. That's because Friday is the final "quadruple witching" day of the year, one of four days a year when stock index futures, stock index options, stock options and single stock futures all expire on the same day. Goldman Sachs estimates that more than $7.1 trillion in options are set to expire Friday, with $5 trillion tied to the S&P 500 and $880 billion tied to single stocks, per CNBC.

Nike Stock Sinks as China Sales Weakness Continues

Nike (NKE) stock is tumbling Friday despite stronger-than-expected quarterly results, as investors focus on comments executives made about the progress of the company's turnaround effort in China. The athletic apparel giant posted fiscal second-quarter revenue of $12.4 billion and earnings per share $0.53, each above the analyst consensus compiled by Visible Alpha. While sales rose year-over-year in North America, sales in China sank by 17% in the quarter, with a 21% drop in shoe sales. CEO Elliott Hill said Nike is "in the middle innings" of its turnaround effort, a plan he introduced around a year ago, shortly after taking over as CEO. CFO Matt Friend said in Thursday's earnings call that the company expects sales headwinds in China to likely continue for the rest of the fiscal year. Shares of the Dow component were down 11% in recent premarket trading.

TikTok Reaches Deal for Control by US Investors

TikTok has reportedly reached a deal to be controlled by American investors. A group of investors made up of cloud computing giant Oracle (ORCL), private equity firm Silver Lake, and MGX, a tech investment fund based in Abu Dhabi, will own a combined 45% stake. ByteDance, TikTok's Chinese parent company, will retain a 20% stake with the remaining stake going to other ByteDance-affiliated investors. The Biden administration passed a law that would ban TikTok in the U.S. if it wasn't sold to American investors, and Trump extended the deadline several times this year. Each administration raised concerns about the data of American users potentially being at risk of being handed over to the Chinese government. Oracle shares, which have fallen sharply since reporting weak quarterly results last week, were up more than 4% ahead of the opening bell.

FedEx Beats Estimates, Expects Higher Costs on MD-11 Fleet Grounding

FedEx (FDX) reported quarterly numbers that topped Wall Street expectations. The package shipping giant reported revenue of $23.47 billion and adjusted earnings per share of $4.82, each well above the analyst consensus. FedEx said its planned spinoff of its Freight business remains on track to take place in June 2026. The company also said that it took on about $25 million in added costs in November that is expected to rise through the busy holiday shipping season after a UPS (UPS) plane crash last month led to the grounding of all MD-11 planes, FedEx hired some third-party assistance for some of its air cargo transport needs, which CFO John Dietrich said during Thursday's call came at "an expensive time of the year to be getting outsourced lift." FedEx shares were down about 1.5% in recent premarket trading.

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TikTok's new joint venture agreement ends a years-long push by the U.S. government to force a sale to an American owner on national security concerns

Key Takeaways

• TikTok agreed to a new joint venture that will be controlled by American investors, according to reports Thursday.
• Oracle, Silver Lake and MGX are set to hold a combined 45% stake in the joint venture.

TikTok finally has a deal.

CEO Shou Zi Chew told employees in an internal memo that ByteDance, the social media platform's Chinese parent company, has agreed to create a joint venture granting a group of American investors a controlling stake in TikTok, Axios and Bloomberg reported late Thursday.

The joint venture's investors will reportedly include cloud computing giant Oracle (ORCL), private equity firm Silver Lake and Abu Dhabi-based MGX, which combined are set to own a 45% stake.

Why This Is Significant

The agreement stands to end a years-long push by the U.S. government—under both the Biden and Trump administrations—to force a sale of TikTok to an American owner, citing national security concerns.

ByteDance will retain a 20% stake, with close to one-third held by affiliates of ByteDance investors. The agreement is expected to close on Jan. 22.

Oracle declined to comment. TikTok, Silver Lake, and MGX did not respond to Investopedia's requests for comment in time for publication.

The news comes weeks ahead of a January deadline for TikTok to agree to a sale bringing it under American control or face a ban in the U.S., after President Donald Trump extended the deadline with an executive order for the fourth time.

Shares of Oracle, which have slumped recently amid worries about an AI bubble and its dependence on a few big clients, jumped over 5% in extended trading Thursday.

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Micron's revenue and profit soared in the most recent quarter, driven by a memory chip shortage and booming demand.

Key Takeaways

• Some AI stocks shook off bubble concerns and soared on Thursday after memory chip maker Micron blew past earnings estimates and predicted its profits will soar.
• Memory and data storage companies could be the biggest beneficiaries of the AI boom over the next year, according to some analysts.

AI stocks soared Thursday after memory chip maker Micron (MU) reported quarterly results far stronger-than-expected. That offered tech investors a glimmer of hope after weeks of disappointing performance for AI stocks. 

Micron was the S&P 500's best-performing stock Thursday, with shares finishing up more than 10%. Fellow memory and storage companies Sandisk (SNDK) and Western Digital (WDC) saw similar jumps, rising 6% and 5%, respectively. Other AI beneficiaries, such as nuclear power provider Constellation Energy (CEG) and software company Applovin (APP), whose stocks have lately been pressured, were also sharply higher. 

Micron's results were a big tailwind Thursday. The company blew past quarterly earnings estimates, citing booming demand from data centers for its memory chips and a supply shortage. Demand is so strong, according to executives on the company’s earnings call, that Micron is already sold out of high-bandwidth memory chips through 2026. 

Why This Is Important

The AI rally that's fueled the bull market for three years hit turbulence last month and has remained under pressure. Micron's strong earnings could revive Wall Street's confidence in the AI infrastructure buildout and, subsequently, the companies and stocks benefiting from it.

“Yesterday’s guidance was everything [Micron] bulls could have hoped for,” said Ryan Lee, senior vice president of product and strategy at Direxion, in emailed comments. Micron predicted earnings per share of $8.19 in the current quarter, more than 70% above Wall Street’s expectations. The critical challenge for the company will be increasing supply without eating into margins, according to Lee. 

There were also notes of restraint. The semiconductor industry is notoriously cyclical, alternating between periods of severe undersupply and oversupply. "Investors should be valuing memory names on through-cycle profitability potential, not on current peak levels," wrote Deutsche Bank analyst Melissa Weathers in a note on Thursday.

Still, Weathers hailed Micron's results as evidence of "a paradigm shift in the memory sector." The industry, she wrote, "is structurally low on supply, which could sustain for multiple years to come."

The question on some investors’ minds Thursday is whether Micron’s results would be enough to revive the ailing AI rally. In early November, investors grew anxious about when big tech would see returns on its massive investments in artificial intelligence, if at all. Investors also grew wary of the industry's increasing reliance on debt to fund its projects. Those concerns dampened the mood on Wall Street, causing high-flying tech stocks to pull back from their records.

Investors are increasingly demanding evidence that AI investments are delivering tangible benefits or will soon. Oracle (ORCL) tumbled last week after its results failed to temper anxiety about its debt-financed data center investments. Chipmaker Broadcom (AVGO) showed its AI business was booming, but investors focused on the impact that growth might have on its profit margins.

That's likely why Micron's results reinvigorated investors today. "Memory and storage vendors are demand weathervanes for AI, so seeing demand so vastly exceed supply is a positive sign for the industry as a whole," Olivier Blanchard, research director and practice lead of intelligent devices at The Futurum Group, told Investopedia.

Paul Meeks, managing director and head of technology research at Freedom Capital Markets, believes the AI infrastructure boom has “at least another year, likely two” in it. That’s why he sees potential for Micron’s earnings to exceed already high expectations, and says “any dip presents an extraordinary opportunity” to buy the stock and other companies benefiting from AI spending.  

Morgan Stanley analysts said memory companies like Micron, Western Digital, and Seagate Technology (STX) “would be the biggest beneficiary” if tech companies and investors continue to plow money into AI infrastructure. "Memory and storage for AI are finally having their moment," Blanchard said.

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Olive Garden is the latest among a growing number of restaurant chains reporting American consumers are searching for value.

Key Takeaways

• Olive Garden's "never ending pasta bowl" special was a meaningful driver of its quarterly sales as Americans search for deals, executives said Thursday.
• Executives also said Olive Garden has seen a growing number of higher-income customers at its restaurants.

Olive Garden said its sales show Americans are growing more hungry for two things: value, and lots of pasta.

Executives from Darden Restaurants (DRI), the parent company of Olive Garden, said during the company's earnings call Thursday that the restaurant chain saw a big boost in its quarterly sales, thanks in part to the popularity of its $13.99 "never ending pasta bowl" special.

"Preference was strong and refill rates reached a record high demonstrating that guests continue to find abundance, and meaningful value at Olive Garden in this environment," CEO Rick Cardenas said, according to a transcript from AlphaSense.

The CEO also said Olive Garden and Darden's LongHorn Steakhouse have seen a growing number of middle to higher-income customers, echoing other restaurant chains and retailers saying they're seeing consumers at higher income levels search for better deals.

Why This Is Significant

Olive Garden parent Darden is the latest in a growing trend of companies reporting American consumers are showing some signs of strain and searching for value.

Darden posted $3.1 billion in sales for its fiscal second quarter, slightly above the analyst consensus compiled by Visible Alpha. Adjusted earnings per share came in at $2.08, just 1 cent below estimates. Cardenas said that record-high beef prices were among the factors pressuring its margins. Same restaurant sales gained 4.3% across Darden's portfolio, led by 4.7% and 5.9% gains for Olive Garden and LongHorn Steakhouse, respectively, each topping forecasts.

Looking ahead, Cardenas said that the restaurant operator plans to continue focusing on value, including introducing a lower price, smaller portion option at Olive Garden.

Darden raised its full-year revenue outlook for the third straight quarter, though it warned higher prices could hold back profits. Darden said it now expects sales growth of 8.5% to 9.3%, compared to its prior guidance of 7.5% to 8.5%. It held its adjusted EPS forecast steady at $10.50 to $10.70.

Shares of Darden were up less than 1% in recent trading. They've climbed about 2% for 2025, after pulling back from record levels reached over the summer.

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The most recent CPI reading could change the Fed's interest rate calculus.

What This Means For The Economy

• Price increases cooled unexpectedly in November, which could ease inflation fears for Fed officials and justify cutting interest rates to preserve the job market.
• Fed officials have been torn between keeping its key interest rate higher for longer to fight inflation, or lowering it to boost the job market.
  
• The government shutdown distorted the data, leading some economists, and possibly the Fed, to take it with a grain of salt.
  

The sudden drop of inflation in November could clear the decks for the Federal Reserve to cut interest rates to help boost the faltering job market. But the outlook is complicated by the government shutdown's impact on the data.

Core inflation in the Consumer Price Index fell to a four-year low in November, the Bureau of Labor Statistics said Thursday. Normally that kind of news would be music to the ears of officials at the Federal Reserve who adjust the central bank's interest rate with the goal of keeping inflation low. If the trend is confirmed in future months, the central bank might cut interest rates without fear of stoking inflation.

What This Means For The Economy

A lower fed funds rate reduces borrowing costs across the economy, making everything from consumer loans to business credit cheaper. That can encourage more spending and investment, supporting stronger economic growth.

However, experts said the good news could prove to be a mirage, since the government shutdown in October and November may have distorted the picture. Among other abnormalities, the BLS did not report price data for October at all, since it couldn't carry out its usual surveys that month.

Economists have long expected inflation to cool significantly because home prices have decelerated over the past few years after surging during the pandemic. That day may have finally arrived, which could help resolve the debate among Fed officials about whether to keep the fed funds rate higher for longer to fight inflation. Alternatively, they could lower it to boost the economy and encourage hiring to prevent the recent jobs slowdown from turning into a wave of high unemployment.

"A surprisingly sharp decline in U.S. consumer price inflation should grease the wheels for further Fed easing in 2026,"  Sal Guatieri, senior economist at BMO Capital Markets, wrote in a commentary.

Financial markets are pricing in only a 26.6% chance the Fed will cut interest rates at its next meeting in January, after it cut them by a quarter-point at each of its last three meetings. Thursday's surprisingly tame inflation report did little to shift those expectations. Fed officials may wait for more reliable data before making any more moves with interest rates, since setting rates too low risks fueling high inflation.

"The latest CPI numbers are encouraging for the Federal Reserve, but Fed Chair Jerome Powell has already warned against reading too much into the latest data due to distortions from the shutdown," Bernard Yaros, lead economist at Oxford Economics, wrote in a commentary.

Still, the report could help ease some inflation concerns at the Fed, which has a dual mandate to keep inflation low and employment high. Data this week showed the job market's recent slowdown deepened in November, which could encourage the Fed to emphasize the labor side of its mandate and make rate cuts more likely.

"The weaker than expected inflation reading for November supports the case for further Fed cuts in the New Year, particularly given the deterioration in labour market conditions signaled by data released earlier this week," Andrew Grantham, senior economist at CIBC, wrote in a commentary.

Michael Nagle / Bloomberg via Getty Images

Key Takeaways

• JPMorgan stock analysts set a target of 7500 for the end of 2026, which points toward the possibility of another year of double-digit gains for stocks.
• The Federal Open Market Committee would have to deliver more than a half a percentage cut to rates to move the benchmark stock index meaningfully higher, the bank's analysts said.

What will it take to get the S&P 500 above 8000 next year? More than the two interest-rate cuts JP Morgan expects.

The bank's analysts broadly expect the benchmark index to finish 2026 at 7500, implying a 10% rise from recent levels; in research published Thursday, the bank said it expects two quarter-percentage point interest-rate cuts from the Fed next year. Further cuts, the bank said, could help the index to 18% gains, matching its recent year-to-date rise.

CME FedWatch puts the highest probability on two cuts by December 2026. Prediction markets put slightly higher odds on three cuts, with Polymarket bettors anticipating rates that come down by three-quarters of a percentage point next year.

WHY THIS MATTERS TO YOU

If stocks at large start posting smaller gains, investors may to start looking elsewhere to make up for the kind of returns to which they've become accustomed.

With the S&P 500's valuations driven upward by artificial intelligence-linked stocks, investors and investment shops have started to ring the alarm on potentially anemic annual returns on the horizon. The benchmark index's average annual return has been about 10% since the late 1950s, and JPMorgan's base-case outlook implies investors can bag another year of double-digit gains. Anything beyond that will require a little help from the Fed, according to the bank's research.

Some investors expect a new Federal Reserve chairman to answer to political pressures and lower rates below the 3% to 3.25% range, but that's not what JPMorgan analysts were getting at. In their notes, they specified that the their more-bullish outlook for the S&P 500 is based on the assumption that the Fed cuts further due to "improving inflation dynamics."

Artificial intelligence-linked stocks should stay strong, according to the JPMorgan equity research team led by Ken Goldman. "FOBO," or Fear of Becoming Obsolete, is driving corporate and government spending, and by the back end of 2026, companies that have adopted the technology should have something to show for it, according to the report.

"Despite AI bubble and valuation concerns, we see current elevated multiples correctly anticipating above-trend earnings growth, an AI capex boom, rising shareholder payouts, and easier fiscal and monetary policies," they wrote.

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Elliott Investment Management has a CEO candidate in mind for Lululemon.

Key Takeaways

• The activist investment group Elliott thinks the former Ralph Lauren CFO Jane Nielsen would be a strong candidate for CEO at Lululemon Athletica.
• The retailer hasn't commented on the idea, but investors appear to have embraced the suggestion.

Lululemon needs a new CEO. One investor's preferred candidate might not be a a stretch.

Less than a week has passed since Lululemon announced it was seeking a CEO, and one of its biggest stakeholders is already floating a candidate who—based on the market's reaction—seems to appeal to fellow investors: Jane Nielsen, who contributed to turnarounds at Ralph Lauren (RL) and Coach, now part of Tapestry (TPR).

Activist investor Elliott Investment Management has put forward Nielsen, the notion which was first reported by The Wall Street Journal. Elliott has acquired a more than $1 billion stake in the retailer, according to a person familiar with the matter, giving it sway in a company with a market value of about $25 billion.

Why This News Matters to Investors

Elliott Investment Management has a record of influencing companies, including working with PepsiCo to reduce some prices and shifting the board at Southwest Airlines. Elliott has built up a stake in several companies and owns Barnes & Nobel.

Lululemon Athletica (LULU) didn't respond to a request for comment in time for publication. But investors appear to be considering the involvement of Elliott—and its pick of Nielsen, previously CFO at Ralph Lauren and now a board member at Mondelēz International (MDLZ)—warmly: Company shares were recently up more than 4%. (They remain down more than 40% this year, part of why a new chief is needed in the first place.)

“Lululemon is one of the most powerful brands in retail, defined by exceptional products, deeply engaged communities and significant global potential,” Nielsen told The Journal. “I would welcome the chance to discuss this opportunity with the Lululemon board."

The Canada-based retailer last week said CEO Calvin McDonald will leave his post at the end of January, and that it was seeking a successor with growth and restructuring experience. The move stood out in a time when a number of other well-known consumer-facing companies, such as Target (TGT), Walmart (WMT) and Nike (NIKE) have named successors without a public search.

Lululemon's approach didn't sit well with its founder, Dennis “Chip” Wilson, who saw it as a sign of insufficient planning. Wilson has a more than 8% stake in Lululemon. He also has a history of publicizing when he disagrees with the retailer, including voicing concern about Lululemon moving far beyond its yoga-focused roots. He didn't respond to Investopedia's request for comment in time for publication.

U.S. sales have slowed for the retailer as it broadens its reach. Lululemon, once known for imbuing leggings and sports bras with a sense of luxury, now sells golf and tennis gear, along with men's apparel.

Lululemon hopes to revive its American business by rolling out new items this spring and speeding up its design and production process, CFO Meghan Frank said. She is serving as interim co-CEO along with Chief Commercial Officer André Maestrini.

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New protein-focused menu options are set to launch at Chipotle next week, the company said.

Key Takeaways

• If you think you saw protein popping up everywhere this year, you're not wrong. Food and beverage companies have been adding it to products from snacks to drinks for much of 2025.
• Some menu changes at Chipotle, announced today, suggest that the trend still has legs heading into next year.

Everybody seemed to want, and to want to sell, more protein this year. Now Chipotle is carrying the torch into 2026.

Chipotle Mexican Grill (CMG), the burrito chain where diners are known to use ordering "hacks" in hopes of landing more meat and other favored ingredients—one long-running theory is that the way to get a bit more is by asking for half of one, half of another, like beef and chicken—on Thursday said it now has an official "high-protein menu."

In practice, that includes what the company called its "first-ever" snack, a 4-ounce bowl of chicken or steak priced below $4; regular-sized bowls and burritos with double meat; and other new bowls and salads. The menu launches Tuesday, the company said.

Why This Matters to You

Consumables companies leaned hard into Americans' appetite for protein this year, putting into all kinds of products seen in restaurants and on store shelves. Today's news from Chipotle suggests that that trend may not be slowing down as the year draws to a close.

The announcement references a survey indicating that Americans' "top diet pattern" this year was high protein. And it comes as other food and drink companies have sought to bring Americans more protein, which is generally seen as helpful to those seeking to feel full and build muscle, among other things, in their offerings ranging from snacks to drinks.

Starbucks (SBUX) earlier this year said it would put protein in foam. More recently, companies have announced protein-focused fruit punches, plant-based coffees, and waffles; Khloé Kardashian added it to her popcorn brand. Chipotle's announcement touches on several of the reasons diners might look for more protein, offering up celebrity-inspired meals aimed at athletes, people seeking to lose weight, and general wellness.

"For years, guests have used Chipotle's customizable offerings to build high protein and fiber-filled meals on their own," said Chipotle President Chris Brandt in a statement. "This curated menu brings that fan behavior to the forefront."

Chipotle is seeking to re-energize diners who are choosing its chow less frequently. In October the company said revenue in its latest quarter came in lower than expected and trimmed its forecast for same-store sales. Performance like that has weighed on the company's shares, which for years were powerful gainers but in 2025 have lost more than a third of their value.