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Eddie Yoon discusses how consumers are spending more largely because of higher prices, not stronger consumption, and why that trend may be unsustainable. He sees the next wave of AI helping households identify waste, cut subscriptions and save money, with paid AI adoption potentially growing sharply. Yoon highlights Meta Platforms (META), Alphabet (GOOGL) and Apple (AAPL), while also discussing how SpaceX (SPCX) and Starlink could challenge telecom players like AT&T (T).

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"It still looks like we're very, very early in AI," says Andrew Arons, making the case that discrepancies in OpenAI's ARR won't matter long-term. With investors rotating in and out of the AI trade, he sees a value opportunity in a stock he believes isn't getting much attention: Home Depot (HD). Andrew points to IBM Corp. (IBM) as a value opportunity tied to the AI trade. Micron (MU) is a stock he sees being very undervalued even after a five-fold rally over the last 12 months.

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Patrick Mueller discusses how higher fuel prices and Delta Air Lines’ (DAL) lowered outlook are pressuring airline stocks despite resilient travel demand. He remains bullish on Delta but cautious on the broader airline sector as oil prices and consumer debt rise. Tom White breaks down a bullish options trade on DAL.

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Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6D

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Verizon (VZ), AT&T (T), T-Mobile (TMUS) and other mobile carriers sold off on Friday after SpaceX (SPCX) announced it acquired a low-band spectrum license. As Marley Kayden explains, it allows the Elon Musk-led firm to expand mobile carrier opportunities. She touches the key points underneath the headline and highlights bullish analyst adjustments on the stock. Dam Deming offers an example options trade for SpaceX.

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Alexandra Semenova discusses the inner rotation of the AI trade and how infrastructure companies are poised to become the new beneficiaries. However, mind the high bar heading into earnings as expectations for higher profits increase. Waning market breadth is becoming another point of interest for Alexandra and the "sign of capitulation" it signals for investors. Kasey McCurdy addresses the question: "who has the most riding on the AI buildout?" He argues that the Trump administration wants to see it succeed the most and outlines his case as to how it will help bolster AI-tied companies.

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Ben Emons discusses how persistent inflation, higher energy prices and uncertainty around the Strait of Hormuz could push the Fed toward additional rate hikes into 2027. He says the bond market may be underpricing those risks as supply-chain pressures build and refiners rally. Emons sees further upside for Treasury yields, with rates potentially reaching 6%.

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Consumer sentiment continues to show "dismal" results, according to Kevin Green, who touches on all the factors he sees hitting the print. The report shook up the S&P 500 (SPX), with KG pointing out key levels to watch in the index as tech drags to start Friday's trading session. There is added confusion for AI's outlook with conflicting reports on the direction of OpenAI's annualized revenue and whether the company is losing market share. KG turns to the commodity front as crude oil prices scrape the bottom of an upward trading channel.

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Bob Lang discusses de-risking as higher oil prices, rates and market complacency threaten the rally. He sees strength in tech and semiconductors, highlighting options activity in Marvell (MRVL), Broadcom (AVGO), Nvidia (NVDA) and Dell Technologies (DELL). Lang also looks to JPMorgan (JPM) and Bank of America (BAC) earnings for clues on the consumer and economy.

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Baird is now a bull in Humana (HUM) over greater confidence in the company's 2028 EPS goal. Diane King Hall explains why the note is significant for the rising healthcare company. Turning to the cybersecurity space, Diane touches on a pair of price target hikes in CrowdStrike (CRWD) and Zscaler (ZS).

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Joe Bell explains why rising yields, bond volatility and weak market breadth are prompting him to de-risk. He favors tech hardware and semiconductors over banks while shifting from high-yield and emerging-market debt toward investment-grade credit and Treasuries.

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