![All the talk on Wall Street from Thursday](https://news7g.com/wp-content/uploads/2024/07/107365783-17065464202024-01-29t163758z_776369498_rc2qr5ab5hr4_rtrmadp_0_usa-stocks-780x470.jpeg)
(Here’s CNBC Pro’s live coverage of analyst calls and Wall Street talk on Thursday. Refresh every 20-30 minutes to see the latest posts.) Two tech names were on analysts’ minds Thursday. Baird raised his price target on Apple by $40 to $240. BMO also raised its price target on Amazon to $230, implying a 27% upside. Check out the latest calls and talk below. All times ET. 5:43 a.m.: Baird says Apple Intelligence could help the stock remain a smart pick. Apple Intelligence could provide a bullish boost to big tech stocks — even if consumers don’t upgrade their devices as often, Baird said. Analyst William Power reiterated his outperform rating on the tech giant and raised his price target by $40 to $240. Power now sees a 9.8% upside from Wednesday’s close. Power points to new upgrade lows at AT&T and Verizon as evidence that the shift to new devices could continue to slow, which could be bad news for the product maker. Instead, he said investors should look to Apple Intelligence’s use of AI as a reason to be optimistic. “We have recommended AAPL for years based on its expanding ecosystem, growing services footprint, strong cash flow, and innovation leadership,” Power wrote in a note to clients Thursday. “After years of slowing upgrade rates … we believe Apple Intelligence can provide a much-needed upgrade catalyst, driving meaningful revenue and EPS growth.” He also raised his 2025 revenue forecasts for the iPhone and the overall business by 9.3% and 5.9%, respectively. Both are above Wall Street consensus, the analyst noted. Power’s note comes ahead of Apple’s earnings report, which is expected in early August. While shares were down about 0.8% in premarket trading Thursday, they’re up more than 13% for the year. AAPL YTD mountain AAPL year to date — Alex Harring 5:43 a.m.: BMO raises Amazon price target Amazon’s cloud business will continue to drive the stock higher, according to BMO Capital Markets. Analyst Brian Pitz raised his price target on the stock to $230 from $220 and reaffirmed his outperform rating on the tech and e-commerce giant. The new forecast implies a 27% upside from Wednesday’s close. “With greater visibility behind Google results, we track the increasing nominal dollar difference between [Google Cloud Platform] And [Amazon Web Services] since 2018 and comfortably at +19%. As companies invest to stay competitive, we believe AWS is on a sustainable revenue growth trajectory through at least 2025,” Pitz wrote. Additionally, the analyst sees Prime Day volume growing 20% year-over-year. Amazon shares are up 19% this year. However, they fell more than 6% in July. AMZN YTD mountain AMZN year-to-date — Fred Imbert