Stock Market Summary – November 26, 2025

Apple and Broadcom stocks traded above their record-high closes, with Apple expected to surpass Samsung as the world’s top smartphone maker in 2025. This, combined with expected robust AI sales, has motivated researchers to predict more upside for these stocks. Meanwhile, shares of Nvidia fell as Alphabet emerged in the AI spotlight. Alphabet’s upgraded Gemini 3 model and potential expansion with Meta drove its shares to an all-time high.

The Dow Jones Industrial Average climbed more than 660 points, or 1.4%. On the flipside, stocks such as Embecta and Deere experienced respective declines of 6% and 5%, even though their fiscal results exceeded estimates. Notably, Dell Technologies saw an increase of 4.5% due to upbeat AI sales expectations.

In pharmaceuticals, Arrowhead saw a 19% surge after it reported fiscal revenue beating expectations, and successfully creating an FDA approved medicine for familial chylomicronemia syndrome. On the other hand, oil giant Chevron saw its bonds tumble after an Ecuadorian court ruled against the company in an environmental case.

Lastly, JPMorgan presented a bullish outlook for 2026, giving the S&P 500 a target of 7,500, with the possibility of hitting 8,000 if the Federal Reserve cuts rates further. This suggests a gain of 10.9% to 18% from the current level. Stocks anticipated to outperform in 2026, due to their ties to AI/data centers, include Amazon, Nvidia, and Alphabet.