My top 10 things to watch Friday, Oct. 31 1. Apple posted a great quarter last night with strength even in the company’s China market. Naysayers of the stock, who had previously cited certain iPhone lead time estimates and lukewarm reviews, along with the impact of President Donald Trump ‘s tariffs, are finally discredited. The same goes for any bearish Wall Street analysts. Melius Research raised its price target on Apple to $345 from $290. Morgan Stanley hiked to $305 from $298. Citi raised its PT to $315 from $245 a share. We did, too. Apple shares were up 2% this morning. 2. The big winner from last night’s earnings was Amazon , with its stock surging nearly 13% this morning. The Club name changed the narrative with its quarterly results as its cloud computing unit grabbed market share, again. Revenue at Amazon Web Services grew by more than 20% year over year off a huge basis. We have no idea what the basis really is at fellow Club name Microsoft , though. That makes me wonder how much of Microsoft’s cloud computing business is just OpenAI. Canaccord raised Amazon’s price target to $300 from $280 after the release. Citi hiked to $320 from $270 a share. Bank of America increased its PT to $303 from $272. We did, too. 3. Nvidia has been left hanging after Trump said that he did not cover exports of the company’s most advanced Blackwell graphics processing units in trade discussions with Chinese President Xi Jinping yesterday. Instead, it’s up to China and Nvidia to make a deal themselves. 4. Netflix announced a 10-for-1 stock forward split plan. That means shareholders will get 10 shares for every one share of Netflix they own right now. Trading is expected to start on a split adjusted basis on Nov. 17. Netflix shares were up nearly 2% this morning. Enterprise software firm ServiceNow also announced a 5-for-1 stock split authorization earlier this week. 5. The S & P 500 and Nasdaq were headed for strong opens this morning on the big Amazon rally and strength in other tech stocks like Apple, Nvidia, and Netflix. While the stock benchmarks saw sharp declines yesterday, both of them are poised to turn in healthy weekly and monthly gains. With one session left in October, the S & P 500 is up 2% for the month, and the Nasdaq is up 4%. 6. Linde’s slightly better-than-expected profit and revenue in the third quarter was the last report of this week’s 10 portfolio stock earnings extravaganza. The industrial gas and engineering firm, known for its conservative forecasts, put out a current quarter EPS outlook below estimates. For the full year, Linde tightened its outlook around management’s previously provided midpoint. 7. Illumina shares jumped 7% this morning after the biotech firm last night delivered a nice quarterly earnings beat and slightly better than expected revenue. Illumina hiked its prior full-year EPS guidance, and it was above estimates. Barclays raised its Illumina price target to $100 from $95. Strength in biotech will help Club name Danaher get back on its feet. 8. BTIG analysts raised AppLovin’s price target to $693 from $664. The analysts, who maintained their buy rating on the stock, cited strong interest in non-gaming spending trends in the third quarter. Shares were up slightly this morning. This tech stock is a crowd favorite, No. 2 behind Palantir. 9. Reddit shares jumped more than 11% this morning after the social media company last night posted an earnings beat and provided strong guidance. I sat down with CEO Steve Huffman on “Mad Money,” and he said, “The ads market is stable.” 10. Citi put Spotify stock on an “upside 90-day catalyst watch” while keeping a hold rating and price target of $750. I love subscription models. The firm predicts that the music and podcast streamer can raise subscription prices over the next few months, which should help lift shares. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
