TMTB: CVNA dg at RJ; AMZN Bezos sells; SMCI WFS initiation; NVDA Loop $1,200 PT; AAPL AI; W ug at RJ; DASH AMAT TTD ROKU Recaps

Note: There will be no EOD recap today

QQQs +10bps and giving up earlier gains post a hotter than expected PPI print (0.3% vs 0.1%) as yields pop. Do we get another ping-pong back to ARKK/IWM underperforming today? Sure looks like it from early action. A bit of a shortened note today as slow news day and earnings largely wrapping up today before big NVDA print next week. Let’s get to it…

CVNA: Raymond James downgrades to Sell

RJ notes the downgrade is not a call on upcoming Q4 results as industry trends suggest stable market conditions, but on the recent stock performance. RJ says while Carvana's internal restructuring and market adaptation strategies "have fortified its position," external market conditions and sector-specific challenges may dampen its near-term growth trajectory. It expects investors to adopt a "wait-and-see" approach, looking for clear indicators of improved sales growth and sustained profitability before re-engaging with the stock, which is currently hovering near i…