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Last week brought a mix of strong product demand, corporate restructuring, insider buying, and development setbacks for five companies in the spotlight. Apple Inc. (AAPL) attracted attention with its first foldable iPhone, Netflix Inc. (NFLX) announced job cuts, GameStop Corp. (GME) saw continued insider purchases, Tesla Inc. (TSLA) showcased its redesigned Roadster, and Rocket Lab Corp. (RKLB) pushed its Neutron rocket debut into 2027.
Apple's new iPhone Duo quickly built a long preorder backlog after orders opened Oct. 16. Delivery estimates for the $1,999 foldable smartphone slipped into January 2027, raising expectations while leaving questions about supply. Evercore ISI viewed the 100-day waiting period as a positive sign for Apple, saying demand has started strongly. Bloomberg Intelligence analysts suggested sales could exceed their earlier fiscal 2027 estimate of 14 million units and $28 billion in revenue.
Separately, Apple and Meta Platforms Inc. (META) announced work to help developers run Meta's Muse Spark model on Mac Studio computers, highlighting a new area of cooperation between the longtime rivals. Users can connect two to four computers to run AI tasks locally, which may improve privacy and reduce cloud costs. Apple stock rose 2% over the week. However, on Stocktwits, retail sentiment around the stock remained ‘extremely bearish’.
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Netflix stock edged up 0.3% over the week as the company devised plans to cut about 1,000 jobs, or 6% of its workforce. The cuts will mainly affect product, technology, legal and human resources teams. Co-CEOs Greg Peters and Ted Sarandos said Netflix remains on track to meet its yearly financial targets. However, the company faces challenges in keeping viewers engaged and competing for audiences as it expands into live programming and other formats.
Also, Netflix named former Disney and Fox executive Peter Rice as its new chief content officer, replacing Bela Bajaria, who is leaving after nearly 10 years. He will oversee TV shows, movies and live events. Retail sentiment around the stock turned ‘bearish’ from ‘neutral’.
GameStop remained in the spotlight as CEO Ryan Cohen continued buying company shares as part of a buying spree that began in September. Last week, he bought 844,130 shares worth about $22.8 million.
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Over the past two months, total insider purchases totaled about $99 million, boosting investor confidence. GameStop stock posted its seventh green week, up nearly 1%. Retail sentiment around the stock remained ‘bullish’.
Tesla unveiled its long-awaited revamped Roadster prototype in Texas, featuring SpaceX-developed thrusters (SPCX). The company said the car could go from zero to 60 mph in less than a second. Production is planned for 2028, but the rocket-thruster version is not approved for public roads.
On Sunday, CEO Elon Musk said in an X post that the Optimus humanoid robot and Cybercab robotaxi will make up most of the company’s value in the future, highlighting AI and robotics as key growth drivers beyond electric cars. Despite the optimism, Tesla stock fell 7.3% this week. Tesla will report its third-quarter results on Oct. 21. According to Fiscal.ai, analysts expect earnings of $0.45 per share and revenue of $28.1 billion. Retail sentiment around the stock turned ‘neutral’ from ‘bullish’.
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Rocket Lab stock plunged over 25% to its worst week ever as the company postponed the first flight of its partially reusable Neutron rocket after identifying manufacturing problems involving carbon-fiber components in the vehicle's propellant tanks. CEO Peter Beck said the company had adjusted its manufacturing process and would complete further inspections and testing before setting a launch date.
The delay creates another hurdle for Rocket Lab as it works to expand beyond its smaller Electron rocket and compete for larger launch contracts. The update drew a slew of price target cuts across Wall Street. On Friday, Citizens lowered its price target for Rocket Lab from $130 to $90 but kept its ‘Outperform’ rating. The firm said Rocket Lab has tested a manufacturing fix and is rebuilding the affected part, putting safety ahead of speed and added that the delay could also affect the company’s ability to earn money from Neutron launches in 2027 and 2028.
So far this year, AAPL and GME stocks gained 26% and 33%, respectively, while NFLX, TSLA, and RKLB stocks declined 21% to 27%.
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