Closing Bell 10/7/26

Stocks hit new highs on narrow AI-driven leadership even as rising yields crush breadth and raise doubts about hyperscaler spending durability.

• Ives doubles down: Yorkville Ives' Dan Ives says street tech estimates are 20% too low for next year, cites 13:1 chip demand/supply, sees Microsoft reaching $600-700 stock on Azure monetization.
• Oracle the outlier: Ives keeps Oracle at in-line/$155 target versus bullish peers, flagging debt-fueled cost cuts and skepticism over OpenAI-related deals, even as Azure, AWS and GCP all 'accelerate.'

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