Apple CEO Steps DOWN, Amazon Invests $25B IN ANTHROPIC, The BULL MARKET Continues | Daily Recap

Amit Kukreja•Aug 9, 2026

Summary

Amit analyzes the market's performance following the conclusion of the longest NASDAQ momentum streak since 1992. Amit suggests that geopolitical tensions between Trump and Iran regarding the Strait of Hormuz are causing temporary volatility, but Amit believes both sides are incentivized to reach a deal before earnings season fully kicks off. Amit highlights a significant shift in capital, noting massive outflows from money market funds as investors chase the rally in risk assets like Bitcoin and tech stocks. Amit also points out that institutional sentiment is heavily skewed toward call options, indicating a 'risk-on' environment.

Regarding specific equities, Amit discusses the leadership transition at Apple and Amazon's significant capital injection into AI startup Anthropic. Amit maintains a bullish outlook on the 'Magnificent 7' despite recent red days, noting that many of these stocks are still below their recent highs and have room for growth if earnings exceed expectations. Amit emphasizes that the current bull market is supported by strong momentum, even as shorts are forced to cover their positions in various sectors.

Apple (AAPL): Amit discusses the departure of Tim Cook and the promotion of John Turnis to CEO, expressing optimism about the company's long-term trajectory. Amit believes Apple's massive install base of two billion devices represents a huge opportunity for AI monetization via an enhanced Siri. Amit mentions a mock entry point of $198 and notes that while Apple has been slow to innovate in AI, its potential for agentic workflows remains a core bullish thesis.

Amazon (AMZN): Amit highlights Amazon's $25 billion total investment in Anthropic as a major positive for AWS, as it secures long-term cloud spending from the AI firm. Amit argues that Amazon's operating margins are poised to inflect due to robotics and AWS acceleration. Amit predicts that the stock could reach a price target of $300 as the market recognizes the value of its stake in Anthropic and its cloud dominance.

Nvidia (NVDA): Amit briefly mentions Nvidia in the context of recent market performance, noting that Amit was buying Nvidia while Apple was at $198. Amit observes that Nvidia, like many big tech names, has seen a recent pullback despite the broader rally. Amit views this as part of a 'wall of worry' that could lead to further upside once earnings are released.

Mentioned Stocks

AMZN

Sentiment: BUYAction: RECOMMENDED

Reasoning: Amit is highly bullish on Amazon following its increased investment in Anthropic, which Amit sees as a catalyst for AWS growth. Amit points to expanding operating margins and the upcoming benefits of robotics in logistics. Amit sets a price prediction target of $300, stating that the stock has underperformed the NASDAQ and is due for a breakout.

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NVDA

Sentiment: BUY

Reasoning: Amit mentions having purchased Nvidia in the past when other stocks like Apple were stagnant. Amit views the current minor pullback in Nvidia's price as a potential opportunity before the upcoming earnings season. Amit classifies Nvidia as part of the market leadership that still has room to run if fundamental growth continues.

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AAPL

Sentiment: BUYAction: RECOMMENDED

Reasoning: Amit expresses long-term confidence in Apple despite the CEO transition from Tim Cook to John Turnis. Amit argues that Apple's integration of AI into Siri and its 2-billion-device ecosystem creates a strong monetization path. Amit mentions a mock portfolio entry point of $198 and believes the stock has significant upside if it can successfully execute its AI strategy.

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