Richard Drury U.S. large-cap stocks, as benchmarked by the S&P 500, have posted negative year-to-date performance, amid heightened market volatility, geopolitical tensions, and profit-taking after strong prior years. In light of this, below is a list of the top 10 large-cap stocks with market capitalizations of $10 billion or more, ranked by their year-to-date performance. The list spans various sectors, including Technology Hardware, Storage and Peripherals, Oil and Gas Exploration and Production, Communications Equipment, and Biotechnology. The list is topped by Sandisk Corporation ( SNDK ), with a YTD performance of nearly 199%. Venture Global, Inc. ( VG ) and Lumentum Holdings Inc. ( LITE ) follow, with impressive gains of 131.82% and 91.64%, respectively. Texas Pacific Land Corporation ( TPL ) and Moderna, Inc. ( MRNA ) round out the top five. The broader composition of the top ten includes a diverse mix of industries, from heavy electrical equipment to commodity chemicals. The quant ratings on this list vary, with Sandisk Corporation ( SNDK ) and Lumentum Holdings Inc. ( LITE ) earning Strong Buy ratings of 4.99, while LyondellBasell Industries N.V. ( LYB ) holds a Buy rating of 4.48. The remaining stocks carry Hold ratings. Here is the list: Sandisk Corporation ( SNDK ), YTD perf: 198.98%, Quant rating: Strong Buy 4.99 Venture Global, Inc. ( VG ), YTD perf: 131.82%, Quant rating: Hold 3.36 Lumentum Holdings Inc. ( LITE ), YTD perf: 91.64%, Quant rating: Strong Buy 4.99 Texas Pacific Land Corporation ( TPL ), YTD perf: 80.84%, Quant rating: Hold 3.25 Moderna, Inc. ( MRNA ), YTD perf: 74.23%, Quant rating: Hold 3.42 Bloom Energy Corporation ( BE ), YTD perf: 72.77%, Quant rating: Hold 3.49 Planet Labs PBC ( PL ), YTD perf: 71.55%, Quant rating: Hold 3.48 Western Digital Corporation ( WDC ), YTD perf: 70.14%, Quant rating: Hold 3.49 LyondellBasell Industries N.V. ( LYB ), YTD perf: 69.33%, Quant rating: Buy 4.48 Ciena Corporation ( CIEN ), YTD perf: 64.15%, Quan...

Tesla And SpaceX To Build Massive "Terafab" Chip Factory In Austin Elon Musk announced that his proposed “Terafab” chip factory will be built in Austin and operated jointly by Tesla and SpaceX, according to Yahoo Finance and Bloomberg . The plan is to start with a smaller, highly advanced fabrication facility capable of producing and testing a wide range of chips, before expanding to a larger operation. Musk argues the semiconductor industry isn’t scaling fast enough to meet his companies’ growing demand for AI and robotics, so he sees building his own supply as necessary. His long-term goal is to support massive computing capacity—eventually reaching a terawatt annually—though he hasn’t provided a timeline. Yahoo writes that the project would likely sit near Tesla’s Austin headquarters and could produce cutting-edge chips, potentially at the 2-nanometer level. One set of chips would power vehicles, robotaxis, and humanoid robots, while another, more powerful line would be designed for space-based computing used by SpaceX and xAI. Despite widespread concern about chip shortages, it’s unusual for companies to build their own fabs due to the enormous cost and complexity. Musk acknowledged existing suppliers can’t fully meet Tesla’s future needs as it shifts toward AI-driven products. He also outlined broader ambitions, including space-based data centers powered by satellite networks. A prototype “mini” satellite could deliver about 100 kilowatts, with future versions reaching megawatt levels. These efforts are tied to SpaceX’s planned IPO and larger vision of expanding computing infrastructure beyond Earth. Overall, the Terafab project reflects Musk’s push to vertically integrate chip production while supporting his longer-term goals in AI, robotics, and space technology. * * * WAR TRADE Iodine Water filter 3 Months of Food Tyler Durden Mon, 03/23/2026 - 15:40

Astera Labs Conference: AI Infrastructure Shift Boosts Scorpio Switches, Taurus Cables and Retimers Yahoo Finance

Astera Labs NASDAQ: ALAB executives and a Roth analyst outlined how fast-changing AI infrastructure is driving demand for higher-speed, longer-reach connectivity solutions, while also expanding the company’s product footprint beyond its early focus on PCI Express retimers. Get Astera Labs alerts: Sign Up AI systems scaling up in size and speed During the discussion, Astera Labs described the rapid evolution of AI server architectures. The company said that around two years ago, an AI server was commonly defined as an NVIDIA HGX Hopper-based system with eight GPUs, while today systems are scaling to more than 72 GPUs within a single rack, with future discussion in the industry extending to clusters of more than 1,000 GPUs. Astera Labs positioned its role as the “nervous system” inside these systems, connecting GPUs and other endpoints such as CPUs, networking interface cards, memory, and storage—often over PCI Express. As cluster sizes increase and signaling speeds rise, the company said the industry runs into “speed and distance” constraints that create connectivity bottlenecks. Why connectivity is becoming a larger bottleneck The company emphasized two major drivers behind increasing connectivity complexity: Higher per-lane speeds reduce signal reach: As technologies move to higher speeds—Astera cited examples in Ethernet lane speeds progressing from 25 to 50 gig and toward 100 gig and beyond—signal integrity becomes harder to maintain over longer distances. As technologies move to higher speeds—Astera cited examples in Ethernet lane speeds progressing from 25 to 50 gig and toward 100 gig and beyond—signal integrity becomes harder to maintain over longer distances. Systems are physically expanding at the same time: AI deployments are moving from smaller, contained configurations toward larger racks and multi-rack clusters, increasing trace and cable lengths just as tolerances tighten. Astera Labs also highlighted heterogeneity across hyperscalers, saying “no two cl...

Trump's economic policies have mortgage rates skyrocketing and Americans worried.

政策制定者只能在可负担性、能源安全与可持续性这三个目标中优化其中两个，这意味着所有能源选择都需要做出取舍 化石燃料兼具可负担性和安全性，但污染严重；核能安全且低碳，但成本高昂；可再生能源廉价且可持续，但需配套储能设施来保障供电可靠性 储能技术的进步或将使可再生能源同时满足三大目标 随着中东局势再度扰乱全球能源市场，我们有必要重新审视一个最受关注的能源政策概念——能源三难困境。这一概念可视为“电车难题”的简单变体，但多了一个变量。这三个变量分别是：1）可负担性；2）能源供应安全（敌对政府能否切断你的供应？）；3）可持续性（你的能源来源是否为重度污染源或消耗有限资源？）。三难困境理论指出，政策制定者只能在这三个变量中同时满足两个，第三个则难免成为被牺牲的那一个。 观察各类能源生产技术，我们可以清楚看到这一规律。煤炭作为锅炉燃料在地壳中储量丰富，其产生的能源对大多数人而言都可负担。在拥有本土煤矿的地区，煤炭还能为用户提供供应安全保障，不存在外部势力干预的威胁。但煤炭显然不可持续——其排放的二氧化硫、氮氧化物、颗粒物（烟尘）、汞等重金属、二氧化碳，以及需要数十年安全封存的有毒粉煤灰，都会造成严重污染。那么，它可负担吗？是的。通过本土煤矿能否获得安全供应？同样可以。它是否环境可持续？远远谈不上。正如我们所说，三者仅得其二。 从三难困境视角来看，天然气与煤炭几乎如出一辙，区别在于其主要环境问题在于甲烷排放和二氧化碳。在此背景下，液化天然气是最不 理想 的选择。假设价格合理（可负担），它既无法保障供应安全，也谈不上环境可持续。再看核能，由于不产生二氧化碳排放，通常被视为可持续能源。供应安全方面，铀（以及钍）的储量也相当充足，至少在美国如此。但与其他发电方式相比，它是否具有可负担性？答案是否定的。 现在我们将焦点转向可再生能源。可再生能源是否可负担？是的——它们生产的电力价格极为低廉，在参与竞争的每个市场都在取代化石燃料。可再生能源是否可持续？答案显而易见。它们能否保障供应安全？这个问题值得深思。可再生能源的倡导者近来指出，用于光伏发电的阳光光子需要穿越9200万英里的距离才能抵达地球，没有哪束光子需要经过霍尔木兹海峡。尽管如此，批评者仍诟病其间歇性问题。这些技术在白天和有风天气确实能产生大量电力，但夜间或无风时又该如何？德语中甚至为后者创造了一个专属词汇“Dunkelflaute...

John Ternus, Apple's senior vice president of hardware engineering, has become a leading candidate to take over for CEO Tim Cook. Bloomberg's Mark Gurman discusses the growing role Ternus has taken on overseeing the company's products and marketing. He joins Caroline Hyde and Ed Ludlow on “Bloomberg Tech.” (Source: Bloomberg)

Your tax situation can change every year, but some things could trigger a red flag in the antiquated computer systems at the IRS.

Apple (AAPL) to Introduce Ads in Maps, Boosting Service Revenue GuruFocus

格隆汇3月24日｜美国交通部长达菲：拉瓜迪亚机场已开放，但运力受限。

Dragon Claws Jefferies issued its stock picks in the consumer sector if the Iran conflict is resolved. Analyst Randal Konik and his team expect a risk-on movement from investors that began on Monday to extend and compressed consumer discretionary valuations to move higher after more than three weeks of tightening. In selecting its list of top sector picks, the firm prioritized the most mispriced self-help stories, including membership models such as Life Time Group Holdings ( LTH ), asset-light franchising such as Planet Fitness ( PLNT ), category leaders like Nike ( NKE ), Brunswick ( BC ), and Signet Jewelers ( SIG ), and clean balance sheets + durable free cash flow names like Yeti Holdings ( YETI ). Planet Fitness ( PLNT ) was noted to have a defensive, resilient model with steady membership behavior through cycles, while Life Time ( LTH ) was called a premium, high-engagement wellness platform with a sticky, affluent member base. Konik pointed to Signet ( SIG ) due to its position as a market leader executing through volatility with momentum improving into key demand moments. Meanwhile, Brunswick ( BC ) was recommended due to the early-cycle setup as industry conditions stabilize and confidence improves. Nike ( NKE ) was on the buy list due to positives such as cash-flow durability, and shareholder credibility remains a core pillar of the story. Finally, Yeti Holdings ( YETI ) was called out with the growth narrative re-energizing as product and global demand improve. The retail sector has underperformed the broad market on both a post-Iran comparison and on a year-to-date basis. More on the consumer sector Signet Jewelers Limited (SIG) Q4 2026 Earnings Call Transcript Signet Jewelers: Resilient Earnings Make Shares Attractive Signet Jewelers: More Than Engagements Under The Surface Signet outlines $6.6B-$6.9B revenue target and brand integration moves amid strategic portfolio shift Signet Jewelers rallies after earnings; Jefferies points to 40% more upside

franckreporter/iStock via Getty Images In mid-February, I penned an article that highlighted how the smart money was not buying the U.S. equity markets. I noted that Warren Buffett had built up a record cash balance of over $380 billion at Berkshire Hathaway ( BRK.B ) before he retired after roughly six decades at the helm of the company. In addition, the insider selling/buying ratio recorded its highest levels in five years in the opening month of this year. 3-Month S&P 500 Chart (MarketWatch) The S&P 500 is down just over 3% since that piece ran here on Seeking Alpha, and the index has declined 7% from recent highs. The index has lost just over $3 trillion in market cap since the war over Iran commenced. The small-cap Russell 2000 has fared worse and went into official correction territory on Friday after it shed 2.26% of its value in a broad-based sell-off to end the trading week. IEA, CRU, BMO Capital Markets, Bloomberg, Woods Mackenzie The new conflict in the Middle East has effectively closed the Strait of Hormuz, where more than 20 million barrels of oil transit daily. In addition, large amounts of natural gas, phosphate, nitrogen, and other key commodities and metals go through this global chokepoint. This has pushed energy prices much higher. It should be noted that Europe and Asia are in worse shape than the United States on this front, as they are much more dependent on these energy flows. This is the key reason the spread between the WTI and Brent benchmarks has become historically divergent. One-Month Brent Crude Price Chart (Exchange Rates) That said, the U.S. is not immune from these inflationary headwinds. Gasoline has surged to nearly $4 a gallon, and diesel prices have risen to over the $5 threshold for the first time since 2022 . That latter is important as the fuel is used across the rail and trucking industries. That means the costs to transport anything to market have increased notably. U.S. Diesel Prices (FRED - 03/16/2026) Roughly half of glo...

Prediction market Kalshi ( KALSHI ) said it's expanding its controls and policies against insider trading and market manipulation by blocking athletes, officials, and politicians from trading on certain political and sports markets, the company said on Monday. The efforts " proactively address the CFTC’s guidance and Congressional bill proposals to prevent insider trading," the company said in a statement. Axios first reported the new restrictions earlier on Monday. Both examples of insider trading already violated Kalshi's rules, but the new move puts in place a mechanism that will preemptively block athletes and politicians from placing certain trades. The new restrictions come as regulators increase scrutiny of the rapidly growing prediction markets that allow customers to wager on almost any event imaginable. Earlier on Monday, the Wall Street Journal reported that two U.S. senators are introducing bipartisan legislation that would ban companies under CFTC oversight from listing contracts related to sporting events. The CFTC also recently issued new federal regulatory guidance for prediction markets. " Kalshi looks forward to engaging with regulators and other industry participants to make these efforts a standard across the industry," the company said. The company also said it's adding a whistleblower function to its market page to make it easier for Kalshi's ( KALSHI ) users to flag potential violations before they flow through to the platform's public trading data. More on Kalshi Inc DraftKings FanDuel owner Flutter soar on efforts to curb prediction markets taking sports action Bipartisan bill seeks to ban sports bets on prediction markets: WSJ Nevada judge temporarily blocks Kalshi from offering event contracts in state

When it comes to saving for retirement, most people focus on accounts like 401(k)s. And there's a good reason for that. With a traditional 401(k), you get a tax break on the money you contribute toward retirement. You also get to enjoy tax-deferred investment gains. With a Roth 401(k), investment gains are tax-free, as are withdrawals. Plus, 401(k)s tend to be pretty easy to fund. Many companies offer them, and once you sign up, your contributions are taken as automatic deductions from your paychecks. But there's another type of account that doesn't always get the attention it deserves in the context of retirement savings -- a health savings account, or HSA. At first, an HSA might seem like a niche tool for covering healthcare expenses. After all, it's right there in the name. But actually, when used strategically, you may find that an HSA is even more powerful than a 401(k) for your retirement. Why HSAs beat 401(k)s It's true that 401(k)s offer a number of tax benefits. But HSAs are unique in that they combine the tax breaks offered by traditional and Roth 401(k)s. With an HSA: Contributions go in tax-free Investment gains are tax-free Withdrawals are tax-free as long as they're used for qualifying medical expenses That's a pretty winning combination. Now you may be thinking, "Well, those are some nice tax breaks, but you can only use an HSA for medical expenses." But that's where you're wrong. It's true that non-medical HSA withdrawals can incur a penalty -- but only if you're under 65. Once you turn 65, you can use an HSA for any purpose without being penalized. This allows your HSA to serve as a backup retirement account. Of course, you might need the bulk of your HSA to cover healthcare expenses in retirement. But if you have money left over, rest assured that it won't have to go to waste or become subject to penalties. If you use your HSA for non-medical withdrawals at or after turning 65, your withdrawals will be subject to taxes. That's the one hiccup. But i...

Key Points Many people focus on building retirement savings in a 401(k). An HSA might give you even more tax breaks and flexibility. The $23,760 Social Security bonus most retirees completely overlook › When it comes to saving for retirement, most people focus on accounts like 401(k)s. And there's a good reason for that. With a traditional 401(k), you get a tax break on the money you contribute toward retirement. You also get to enjoy tax-deferred investment gains. With a Roth 401(k), investment gains are tax-free, as are withdrawals. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Plus, 401(k)s tend to be pretty easy to fund. Many companies offer them, and once you sign up, your contributions are taken as automatic deductions from your paychecks. But there's another type of account that doesn't always get the attention it deserves in the context of retirement savings -- a health savings account, or HSA. At first, an HSA might seem like a niche tool for covering healthcare expenses. After all, it's right there in the name. But actually, when used strategically, you may find that an HSA is even more powerful than a 401(k) for your retirement. Why HSAs beat 401(k)s It's true that 401(k)s offer a number of tax benefits. But HSAs are unique in that they combine the tax breaks offered by traditional and Roth 401(k)s. With an HSA: Contributions go in tax-free Investment gains are tax-free Withdrawals are tax-free as long as they're used for qualifying medical expenses That's a pretty winning combination. Now you may be thinking, "Well, those are some nice tax breaks, but you can only use an HSA for medical expenses." But that's where you're wrong. It's true that non-medical HSA withdrawals can incur a penalty -- but only if you're under 65. Once you turn 65, you can use an HSA for any purpose without be...

At the end of 2025, Wedbush Securities analyst Dan Ives, one of Wall Street's most outspoken tech bulls, predicted the artificial intelligence (AI) market would reach its "inflection point" in 2026. Ives also named five stocks -- Microsoft, Apple, Tesla, Palantir, and CrowdStrike (CRWD +1.63%) -- as the top plays on that secular trend. While all five of those companies are growing rapidly, I believe CrowdStrike could be the most compelling AI play this year for five simple reasons. 1. It's the cloud-native cybersecurity leader Many cybersecurity companies deploy their services via on-site appliances, which take up space, consume significant power, and require constant maintenance. These systems are also expensive to scale as an organization expands. CrowdStrike addresses those issues with Falcon, a cloud-native endpoint security platform that doesn't require any appliances or on-site maintenance. It's also easier to scale and locks users into sticky subscriptions. That innovative approach widens its competitive moat. 2. Its ecosystem is expanding CrowdStrike initially provides its customers with a trial bundle of four starter modules and encourages them to purchase more modules for additional services. At the end of fiscal 2026 (which ended this January), 50% of its customers were using at least six of its modules. That's up from just 24% of its customers at the end of fiscal 2021. Those modules added more identity, data, and cloud security features to its core platform. It also added more AI-powered features -- including its AI-driven threat detection tools, automated agents, and Charlotte AI assistant for analysts -- to keep pace with smaller AI-driven competitors like SentinelOne and diversified tech giants like Microsoft, which is expanding its own AI-powered cybersecurity services. In his note to investors, Ives said Wall Street was "underestimating the growth potential for CrowdStrike with cybersecurity remaining a second/third derivative beneficiary of the AI...

Key Points CrowdStrike’s stock has soared over the past six years. It’s still growing as it rolls out more cloud, data protection, and AI modules. 10 stocks we like better than CrowdStrike › At the end of 2025, Wedbush Securities analyst Dan Ives, one of Wall Street's most outspoken tech bulls, predicted the artificial intelligence (AI) market would reach its "inflection point" in 2026. Ives also named five stocks -- Microsoft, Apple, Tesla, Palantir, and CrowdStrike (NASDAQ: CRWD) -- as the top plays on that secular trend. While all five of those companies are growing rapidly, I believe CrowdStrike could be the most compelling AI play this year for five simple reasons. 1. It's the cloud-native cybersecurity leader Many cybersecurity companies deploy their services via on-site appliances, which take up space, consume significant power, and require constant maintenance. These systems are also expensive to scale as an organization expands. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » CrowdStrike addresses those issues with Falcon, a cloud-native endpoint security platform that doesn't require any appliances or on-site maintenance. It's also easier to scale and locks users into sticky subscriptions. That innovative approach widens its competitive moat. 2. Its ecosystem is expanding CrowdStrike initially provides its customers with a trial bundle of four starter modules and encourages them to purchase more modules for additional services. At the end of fiscal 2026 (which ended this January), 50% of its customers were using at least six of its modules. That's up from just 24% of its customers at the end of fiscal 2021. Those modules added more identity, data, and cloud security features to its core platform. It also added more AI-powered features -- including its AI-driven threat detection tools, au...

一项旨在危机期间对能源公司利润设置上限的提案，意在防止企业以消费者为代价获取超额利润 与中东紧张局势相关的油气价格上涨，正加剧英国家庭和政策制定者的压力 该计划凸显了消费者保护与维持长期能源投资激励之间的更广泛辩论 理查德·沃克已敦促政府考虑对能源公司利润实施临时上限，并警告称，由于中东冲突引发的又一轮价格冲击，英国家庭恐将首当其冲。 这位冰岛超市董事长——近期被任命为工党上议院议员和生活成本顾问——表示，部长们应考虑在极端波动期间限制生产商和零售商的收益。 沃克在《星期日泰晤士报》撰文写道：“我已要求政府考虑设立临时利润上限……以防止生产商和零售商利用危机牟取暴利，损害消费者利益。” 该提案将比现有的暴利税更进一步，直接在危机期间限制利润，此举可能在商界和政府内部引发意见分歧。 沃克表示，这一干预措施将是针对性的，而非永久性措施。他补充道：“作为一家零售商的执行董事长，我不反对盈利……但我坚决反对牟取暴利，尤其是在家庭真正承受压力的时候。” 他发表上述言论之际，中东紧张局势持续升级，能源市场依然动荡。最近几周，布伦特原油价格已突破每桶100美元。 油价一度飙升至每桶119美元的高位后有所回落，而海湾地区关键基础设施遭袭后，天然气市场也出现剧烈波动。 此次供应中断可能导致严重的供应冲击，每日有数百万桶原油暂时停产，这增加了通胀持续和经济放缓的风险。 能源账单上涨，政府面临压力 英国政府已召集能源生产商和汽油零售商前往唐宁街，沃克称此举是“鸣枪示警”，告诫企业不要“机会主义地漫天要价”。 英国竞争与市场管理局也出席了会议，部长们表示，如有必要，愿意加强该机构的权力。 沃克表示，需要持续保持监管压力，以确保企业不会利用市场不稳定牟利。 要求加大干预的呼声出现之际，英国家庭正面临多方面成本上升的压力。 康沃 尔洞察公司的预测显示，英国家庭年均能源账单可能增加逾300英镑，而更广泛的经济压力也在积聚。 房地产市场也受到冲击，多家银行和建筑协会撤回了数百种抵押贷款产品，并将利率上调至一年多来的最高水平，进一步加剧了民众的负担能力担忧。 预计基尔·斯塔默本周将召集紧急内阁办公室简报室会议，与高级部长及英国央行行长安德鲁·贝利共同商讨进一步的援助措施，包括可能推出一项数十亿英镑的一揽子计划，帮助家庭应对不断上涨的账单。 沃克警告称，当前局势有可能重蹈以往危机的覆辙——价格上涨迅速...

格隆汇3月24日｜美国交通部长达菲：十名美国联邦航空局工作人员赴纽约调查加拿大快运航空公司事件。

Key Points ImmunityBio recently won another approval for its oncology drug Anktiva. Although this approval in and of itself doesn’t translate into a massive revenue opportunity, it does set the stage for significant lateral geographic expansion. While making clear forward progress, IBRX is still a small biopharma start-up, with all the usual risks and volatility you’d expect. 10 stocks we like better than ImmunityBio › Shares of biopharma outfit ImmunityBio (NASDAQ: IBRX) are rising firmly again today, following through on last week's effort to rekindle the erratic rally that's been underway since early January. As of 3:15 p.m. ET Monday, in fact, shares are up 11.2%, mostly in response to late last week's announcement that Macau's regulatory body has approved the company's oncology drug Anktiva® for certain forms of bladder cancer. It is believed that this approval will open the door to approvals in other countries in and around the region, including China. More good news for ImmunityBio's Anktiva IBRX shares were already enjoying a tailwind, boosted by last week's news that the United States' National Comprehensive Cancer Network (or NCCN®) recently updated its 2026 clinical treatment guidelines to include the combination of ImmunityBio's Anktiva and Bacillus Calmette-Guérin (BCG) as an appropriate treatment for patients with certain forms of bladder cancer (NMIBC) that aren't responsive to BCG treatments alone. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Now Macau's regulators see the same potential for Anktiva and BCG as a therapy for this sliver of bladder cancer patients, recently approving this combination of drugs for the exact same patient scenario. Anktiva -- ImmunityBio's only approved and marketed drug -- is an immunotherapy, meaning it activates a cancer patient's own immune syste...

baona/E+ via Getty Images APA Corp. ( APA ) ticked lower Monday, down 0.7% after pulling back from a nearly three-year intraday high of $39.49, as Barclays upgraded the oil and gas explorer to Equal Weight from Underweight with a $35 price target, up from $28, noting Middle East developments, including Iran's attack on Qatar's massive Ras Laffan complex, materially improve the outlook for APA's gas marketing business and the stock's risk - reward. Barclays analyst Betty Jiang said APA ( APA ) has the greatest exposure to LNG prices in her coverage, in addition to oil price leverage, which amplifies the impact of the Strait of Hormuz closure on its cash flow and drives her upgrade of the stock. APA ( APA ) has 140K MMBtu/day of LNG-linked exposure through flows into Cheniere's Corpus Christi facility, and based on the current macro backdrop, Barclays analyst Betty Jiang now estimates ~$1.15B of gas marketing gains in 2026 compared to ~$650M guidance, based on current strip assumptions. Jiang also views TTF pricing risk as asymmetrically skewed to the upside given the war's current escalation, and every $5/MMBtu move in LNG prices is worth ~$210M of incremental annual cash flow, or 4%-5% to 2026-27 estimates; at current strip prices of ~$83 for WTI and $92 for Brent in 2026, APA ( APA ) is unhedged and could generate close to $2.9B in free cash flow, a 22% FCF yield. More on APA Corp. APA Corp.: Deeply Undervalued While Advancing On All Fronts APA Corp.: Redefined By Operational Efficiencies And Middle East Turmoil APA Corp.: The Great FCF Machine

The AMD Ryzen 7 9800X3D Processor Drops to the Lowest Price Ever, Also Includes Crimson Desert IGN

美国多年来一直是全球最大的原油生产国，过去数月其原油 日产 量一直保持在1360万桶以上。那么有人会问，为何半个地球之外的冲突会导致美国汽油价格飙升？ 首先，原油价格在美国汽油价格构成中占比最高。自中东战事爆发以来的三周内，原油价格已大幅飙升。 其次，即使美国近几个月的原油产量处于历史高位，其日均石油消费量仍超过2000万桶，高于国内产量。此外，并非所有国产原油都适合美国炼油厂的加工需求——这些炼厂为高效加工重质原油而设计，而美国本土重质原油产量有限，仍需依赖进口。 换言之，尽管美国稳居全球最大产油国，但其仍受制于国际市场原油价格。当国际油价飙升时，汽油价格必然随之上涨。 原油成本占美国汽油价格过半 美国能源信息署数据显示，2026年1月美国零售汽油均价为每加仑2.81美元时，原油成本占消费者支付价格的51%。3月份原油成本占比保持不变，但由于原油价格上涨30%，目前每加仑汽油价格较伊朗战争前已上涨逾1美元。 美国基准西得克萨斯中质原油价格已从2月27日美以首次袭击伊朗前的约每桶67美元，飙升至本周一早盘的每桶99美元。国际基准布伦特原油价格涨势更为迅猛，从战前的每桶73美元升至本周一早盘的每桶112美元。 税费占汽油价格的18%。因此，即使联邦及州政府试图降低税费，对汽油价格的影响也远不及原油价格上涨带来的冲击。 一个月前，美国汽油全国均价为每加仑2.929美元。目前该价格已突破3.90美元，数小时内或将触及4美元关口。这主要是由于全球最重要的石油咽喉要道霍尔木兹海峡持续关闭，导致全球逾15%的石油运输受阻，推高了每一桶未受困于中东地区的含硫原油价格。 根据GasBuddy数据，上周日全美仅有0.7%的加油站提供每加仑3美元以下的汽油，而三周前这一比例为78%。GasBuddy石油分析主管帕特里克·德哈恩表示，截至上周日全国均价为每加仑3.94美元，预计48小时内将突破4美元。 原油品质有别 尽管美国是石油净出口国，但仍需进口重质原油，因其炼油厂无法仅依靠国内页岩油田生产的轻质原油运行。美国能源信息署数据显示，原油进口约占美国石油总进口量的四分之三。 美国燃料与石化制造商协会指出，全美近70%的炼油能力在处理重质原油时效率最高。这正是美国90%的原油进口品比重于本土页岩油的原因。 即便美国是全球最大原油生产国，其炼油市场与燃油价格也无法独善其身，仍需受制于自伊朗战...

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Oil execs warn of long-term damage from Iran war as US downplays crisis Reuters