A Critical Week for Stocks: Your Next Move 7/13/26

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**Scott Wapner** (1:00)
Carl, thanks so much. Welcome to the Halftime Report. I'm Scott Wapner, front and center this hour, this critical week for the markets. Earnings are kicking off. Semi's under more pressure again. Apple trading at an all-time high, and there's much more going on too. Joining me for the hour, Joe Terranova, Stephanie Link, Jim Lavinthal, Sarat Satee. I'll show you what we're doing on this Monday with the majors. We are in the red. A number of headlines today as we said, Apple hitting a new all-time high happened mid-morning. Oil moving higher on those Iran tensions. SK Hynex is down sharply. The Korean market was down as well. Chair Warsh is on the hill tomorrow. Earnings are kicking off. We got a big week. We really headline it though with this Apple move. You know, it's this new intraday high, the first since June. It shows you the move that this thing has been on. It's a little below that level now. It got up to about 320, I think was the number.
Remember, Josh last week said it's going to 400
You own the name, you've been, it's probably been at the top of your list for something that you've been focused on more than anything else and buying more recently than anything else too, consistently.

**Joe Terranova** (2:08)
Yeah, it's a tactical trade and I've been buying the breakouts when I see them last doing so on Thursday, somewhere around $310.
I'm gonna sit back here and not buy further. I see the near-term momentum is a little bit stretched. That doesn't defeat where I think the long-term target is, where Apple continues to be one of the leaders as it relates to the Max 7 I think Apple and Nvidia is benefiting from a little internal rotation, maybe away from memory and semiconductors. I think that's what's unfolding right now. And I think collectively the market continues to exhibit this game of rotation among sectors and sub-industries to the benefit of the overall index itself. But as it relates to Apple, steady as she goes moving forward, sit back, let it take a breath here because we've had very strong momentum. And then after earnings, I'd be interested in buying more.

**Scott Wapner** (3:06)
Sirat, optimism continues to bloom in this name, Target 365 at Citi. I told you to Josh Brown, $400 of last week. We sue OpenAI, that news comes out Friday after the close. What do you make of the run that this name has had? You could pull the chart back, guys. Look at it over.
Yeah, there it is. Look at that. Like, you know, year to date, it just had a great move after so many wanted to criticize this company for being behind the curve on AI, which of course they were. There's no saying that they were not.
But now a belief that they're going to get it right. And it's going to lead to a really robust upgrade cycle, along with some of the new products they have coming out, whether it's the foldable phone or otherwise, you're underpinned by a robust buyback. Even in a period of CEO transition, this stock has looked beyond that and it has looked through any bit of uncertainty in ways that other companies might not have exhibited in the stock market. You tell me that someone like Tim Cook is going to be leaving in his role as CEO, and then the stock is going to hit new all-time highs a few months later. I think some people would have said, well, I'm not sure.

**Sarat Satee** (4:19)
Add to that that they basically said we're raising prices.
Companies said we're raising prices, demand is going to be strong. I think Scott, one of the things that when you look at the Fab 7 or the other stocks, they're all spending money to grow and going to have negative cash flow. While Apple still got positive cash flow, we'll have support for the stock and the demand for their products is increasing. So it's like a safe ship in a storm right now where you can kind of...