Smothers: AAPL, MSFT, AMZN Have More Upside, CRWV Emerging A.I. Giant

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Dale Smothers 8.0

Smothers: AAPL, MSFT, AMZN Have More Upside, CRWV Emerging A.I. Giant

AAPL; MSFT

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AI spend has led us completely through these most volatile months of the year, September and October. AI spin has led the market higher. And when the China trade war uncertainties clear up, the market is expected to go higher, with a price target for the S&P 500 around 7000 points by year end, about 4% up from current levels. AI spending provides upward momentum but the China trade war remains the main uncertainty. Market movement is expected to be volatile around these factors with potential dips if the trade war persists. Overall, a cautious upward view in the near term.

10/8/2025 1:00:07 AM	short term cautious down	5 days later	-2.07%	+1.03%
10/1/2025 5:00:02 PM	short term up	5 days later	-0.21%	-0.21%
9/13/2025 1:29:51 AM	short term up	7 days later	+1.92%	+1.92%
8/11/2025 5:30:31 PM	short term up	6 days later	-0.53%	-0.53%

Alex Coffey, co-host of Next Gen Investing. Thanks for breaking that one down for us. And with our indexes under pressure today, I do want to bring in our next guest, have a more macro conversation about where we might be heading for the rest of the year.

Host
Joining us now, Dale Smothers. Dale president and CEO of Wealth Management. Dale, thanks, as always, for being with us. You know, I'd love to just get your thoughts on the market action we're seeing and where we could potentially head by the year end.

Host
Dale Smothers

Yeah. Good to be with you, Marley. I think that this price action we've seen in October is the normal October. I mean, October has struck again historically, October brings a lot of volatility to the table and this has not surprised us. We have actually prepared for this as a firm, knowing that October tends to be a little bit rocky.
Dale Smothers

The headwinds that we're facing in October, we clearly China is on the table. The uncertainties around China's trade war, that's one that has to be cleared up before we see this continue to hopefully go higher. The next leg up in the market is probably contingent upon the China trade deal.
Dale Smothers

And when all of this subsides, I think November and December again, historically a strong couple of months here, I think it takes the market higher. Our price target for the S&P 500 is right around 7000 points by the end of the year. I think we've got a good 4% up from here.
Dale Smothers

This is all led by artificial intelligence spending that continues likely into the year. A strengthening consumer confidence and optimism around what is to come in 2026. And, of course, the Santa Claus rally being exactly what it is on normal years.
So you mentioned normal years there. You know, we typically see September be a really volatile month. That didn't prove to be true, but we are seeing it with October, you know, November and December. Typically we get that Santa play and it's generally positive for the markets. And if that proves true we could hit that 7000 you're talking about. But does anything feel different about this year's setup to you.

Host
Dale Smothers

Yeah I mean this year we call it financial winter's a matter of fact. Those three months, it's September and October is the back half of that of financial winter leading into Q4. This winter has been a tropical winter for sure. AI spend has led us completely through these most volatile months of the year, September and October.
Dale Smothers

And it's been higher except the China trade war. The China trade war is going to trump every bit, no pun intended there. It's going to it's going to Trump what we would see typically taking place with the AI spin. AI spin has led the market higher. But China's trade war is the biggest variable on the table.
Dale Smothers

Without that being cleared, I think we could see a lot of bouncing going from, you know, essentially staying around the 6700 point number, maybe even going back into the 6500 point number.

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