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U.S. equity markets pulled back Thursday after record highs, with the S&P 500 and Nasdaq declining amid geopolitical tensions in the Strait of Hormuz and weak forward guidance from major tech names. IBM and ServiceNow (NOW) missed on forward guidance despite beating quarterly results, while Tesla reversed early gains following a substantial capex increase announcement. The selloff was concentrated in mega-cap tech rather than being broad-based, with oil prices rising on Middle East tensions.

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Nvidia experienced notable stock volatility in early 2026 amid concerns over AI spending sustainability and elevated valuations. The company derives 91% of revenue from data centers and maintains 70%+ gross margins, with a diversified AI portfolio covering training, inference, and vertical applications. Investments in emerging areas such as quantum computing are cited as additional long-term growth factors.

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Nokia surged 9.78% to $10.38 on April 13, 2026, after Bank of America upgraded the stock from 'hold' to 'buy' with a $12.40 price target, citing strong demand for optical and AI networking infrastructure. The upgrade points to tailwinds from hyperscaler spending, European sovereign data centers, and Nokia's 6G partnership with Nvidia. Trading volume hit 147.9 million shares, well above average.

AI-generated content for informational purposes only. Not investment advice.