What has Wall Street been buzzing about this week? Here are calls made by Wall Street's best analysts during the week of September 30 - October 3.
1. Apple
Jefferies downgrades Apple to underperform from hold
The firm said expectations are too high for a foldable iPhone 18.
“Better demand for iPhone 17, partly due to a price cut on the base model, is already reflected in the stock. That has led to excessive expectations for iPhone 18 Fold and the replacement cycle.”
Goldman Sachs reiterates Apple as buy
Goldman said App Store spending is decelerating but it remains positive on the stock.
“September 2025 Apple App Store spending grew +7% yoy per Sensor Tower, decelerating from +10% yoy in August 2025. This marks the fourth consecutive month of year-over-year deceleration in App Store spending, and the lowest monthly yoy growth rate since April 2023.”
JPMorgan reiterates Apple as overweight
The firm said its survey checks show consumers willing to participate in Apple’s upgrade cycle.
“Series, with key takeaways including: 1) A strong and robust cycle for the iPhone 17 Series relative to the iPhone 16 Series, led by upgraders, while interest from switchers is modestly softer compared to the prior year, even as; 2) Both upgraders and switchers are showing a higher preference for high-end models compared to the prior year.”
2. Nvidia
Bank of America reiterates Nvidia as buy
The firm said Nvidia remains a top idea.
“We continue to prefer NVDA as our top AI pick, levered to critical compute (accelerators) and networking components of the $1.2tn potential data center capex.”
TD Cowen reiterates Nvidia as buy
The firm said it’s bullish on Nvidia’s high-speed interconnect technology, NVLink.
“NVIDIA is the market incumbent with its NVLink offering, and we see the proliferation of NVIDIA-based systems as a wide moat for the company in the scale-up switch market.”
Citi reiterates Nvidia as buy
Citi raised its price target on shares of Nvidia.
“We lift our TP to $210 from $200 on consistent 30x P/E times revised CY26E ~$7 earnings power and view GTC [Global AI conference] Washington Oct 27-29 as a potential catalyst for the stock.” Read more.
3. Tesla
Goldman Sachs reiterates Tesla as equal weight
Goldman said Tesla’s delivery numbers were better than expected.
“While the expiration of IRA credits will likely be a 4Q headwind, we see potential positives over the next month including 3Q earnings (which should benefit from stronger deliveries and increased Energy deployments) and the Nov. 6 shareholder meeting.”
William Blair reiterates Tesla as market perform
The firm raised its delivery estimates for Tesla but said it’s getting harder to stick with its market perform rating on the stock.
“As expected, the end of the EV tax credit has caused a pull forward in demand, but it has been stronger than we originally estimated. U.S. demand for the new Model Y has been a bright spot, and a return in China and rest of world has offset the continued weakness in Europe.”
Canaccord reiterates Tesla as buy
Canaccord raised its price target to $490 per share from $333.
“So, here we are again with Tesla, having those very deliberations. We wrote a note in early January where we underwent the same debate and inked our struggles on paper – ‘To downgrade or not to downgrade; that was the question.’ We kept our BUY rating. And despite the volatile ride since, we’re glad we did.”
4. Alibaba
Morgan Stanley reiterates Alibaba as overweight
Morgan Stanley raised its price target on Alibaba to $200 per share from $165.
“We raise our cloud growth estimates to 32% for FY26 and 40% for FY27, driven by increased capex, model upgrades, strategic partnerships, and accelerated international expansion.”
4. J & J
Wells Fargo upgrades Johnson & Johnson to overweight from equal weight
Wells said shares of Johnson & Johnson look attractive.
“With pharma tariff and pricing risk, as well as Stelara’s loss of exclusivity concerns largely behind us, we see upside in Pharma coupled with an attractive valuation. We raise PT to $212 (from $170) on 17.5x our 2027E EPS of $12.09.” Read more.
5. Sunrun
Jefferies upgrades Sunrun to buy from hold
Jefferies said in its upgrade of Sunrun that it is well positioned heading into 2026.
“We U/G to Buy with a refreshed PT of $21 ahead of 2025 cash generation expected within guidance range and likely even more cash gen in 2026 as safe harbor expenses roll off.”
6. Netflix
Oppenheimer reiterates Netflix as outperform
Oppenheimer said it’s staying bullish ahead of earnings on Oct. 21.
“Given strong 3Q engagement data and stock underperformance, we are reiterating our $1,425 target and Outperform rating ahead of earnings.”
Bernstein reiterates Netflix as outperform
The firm said a purchase of Warner Bros Discovery by Netflix is not likely.
“As the House of Ellison deliberates its next move, investors are assessing who else could be considering a bid for WBD. Among the possibilities, NFLX stands out as interesting. We have considered the scenario, but not as a likely outcome, largely because it is unclear what strategic value NFLX would realize, or what it could achieve without WBD.”
7. Broadcom
Mizuho reiterates Broadcom as a top pick
Mizuho said the stock remains a top idea.
“AVGO remains an industry leader with strong profitability...”
Bernstein reiterates Nvidia and Broadcom as outperform
Bernstein said the two stocks are a must-own.
“Own both NVDA and AVGO. AI sustainability worries have climbed as huge numbers start to draw disbelief, and NVIDIA’s ecosystem investments raise eyebrows. But demand looks off the charts; NVDA’s OpenAI deal and Hock’s new 5-year targets suggest we may still be early. We are hard-pressed to think of a better use of NVDA’s cash flow at this point. We think both stocks can and should be owned.”
9. Coinbase
BTIG initiates Coinbase as buy
BTIG said the crypto company is firing on all cylinders.
“We are initiating coverage of Coinbase Global (COIN) with a Buy rating and $410 price target.”
10. CoreWeave
Evercore ISI initiates CoreWeave as outperform
Evercore said investors should buy the dip in CoreWeave shares.
“While we concede there are a wide range of outcomes and the stock will be volatile near-term, there’s higher probability CRWV is able to sustain and scale their differentiation from training to inferencing as they benefit from running an ‘at scale AI-as-a-service’ for customers beyond the current cohort. Initiate with OP and $175 Target Price.”
11. Novo Nordisk
Morgan Stanley downgrades Novo Nordisk to underweight from equal weight
The firm said it sees too many negative catalysts for the biopharma company.
“We expect downward revisions to 2026–27 consensus from slower U.S. GLP-1 prescription growth and competitive pressure, and we see catalysts with downside risk over the next 6 months.”