The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0754 GMT - Bitcoin falls, trading below the key $60,000 level, as it struggles to recover from its recent sharp selloff. The market is digesting the prospect of the Federal Reserve raising interest rates, lifting the dollar and weighing on bitcoin, says Stephen Coltman at 21Shares in a note. Meanwhile, crypto-hoarding group Strategy said on Monday that it might sell bitcoin to raise up to $1.25 billion in cash to help cover dividend payments on its preferred stock and the interest on outstanding debt, as well as to fund its share-repurchase program and cash reserve. Bitcoin drops 1.3% to $59,421, having reached a 21-month low of $58,075 on Thursday last week, LSEG data show. (renae.dyer@wsj.com)

0719 GMT - European indexes are all in the green at the open as technology and industrial stocks surge. The Stoxx 600 rises 0.6%. Germany's industrial heavy DAX gains 0.9%, led by Siemens Energy. The gas turbine-maker gains 4.6%. In Paris, the CAC 40 is up 0.4% despite weakness in luxury names, as industrials rally. Schneider Electric rises 2.3%. London's FTSE 100 is 0.3% higher as miners gain after selling sharply in recent sessions on lower precious-metals prices. Antofagasta is up 2.3%. The Dutch AEX rises 0.7% on strong gains for AI-linked stocks, including a 3.3% surge for ASML. The Spanish IBEX 35 gains 0.2%, while the Italian FTSE MIB rises 0.6%. (josephmichael.stonor@wsj.com)

0435 GMT - Concerns over JD.com's intensifying competition appear overblown to Morningstar's Chelsey Tam despite the Chinese retailer facing a few challenges. The e-commerce company's gross merchandise volume share has dropped 400 bps over 2022-2025 due to gains by Douyin and PDD, which are attracting customers with content-driven shopping and value-for-money positioning, respectively. However, the analyst expects JD.com to cede only a further 300 bps of GMV share by 2035 as Douyin's and PDD's growth slows. While the fulfillment speed of on-demand platforms like Meituan beats JD.com's, its first-party logistics network can serve long-tail demand that many rivals can't, she says. Morningstar cuts its fair-value estimate by 20% to HK$138.00 but notes that JD.com's stock remains undervalued. Shares fall 0.6% to HK$98.45. (megan.cheah@wsj.com)The first name of T. Rowe Price's Agnes Ng incorrectly was given as Amanda in "Next AI Opportunities Likely Further Upstream in Supply Chain -- Market Talk," published at 0309 GMT.

0312 GMT - New investment plans by South Korean chip makers Samsung Electronics and SK Hynix will likely have only a limited impact on global memory supply-demand conditions over the next three to five years, given the time required for the investments to materialize, Daiwa Capital's SK Kim says. The analyst expects the bulk of the companies' planned capital spending, including a combined roughly 800 trillion won for new chip-making hubs in southwest Korea, to occur after 2030. The companies are also likely to adjust their investment plans flexibly depending on market conditions while continuing construction of new chip-fabrication facilities already under way in the U.S., Kim adds. (kwanwoo.jun@wsj.com)

0309 GMT - The next phase of artificial-intelligence-related investment opportunities may be further upstream in the supply chain, instead of among the most visible AI platforms or chip makers, says T. Rowe Price's Agnes Ng in a note. Advanced packaging, semiconductor substrates and high-end printed circuit boards are among areas that are becoming increasingly crucial, the portfolio specialist notes. While they account for a smaller share of the total bill of materials needed for AI, they can still cause critical bottlenecks, she says. Even modest price increases for these products could meaningfully boost the manufacturers' earnings while remaining manageable for end-customers, she says. (megan.cheah@wsj.com) Corrections & Amplifications

This article was corrected at 0329 GMT. The earlier version incorrectly named T.Rowe Price's Agnes Ng as Amanda Ng.

0243 GMT - Pexa's bull at Macquarie isn't worried about the potential impact of a pricing review by Australian state regulators. Reiterating an outperform rating on the Australian real-estate settlements platform, one of the investment bank's analysts tells clients in a note that a coming draft report from New South Wales state's Independent Pricing and Regulatory Tribunal is unlikely to lead to price cuts of 20% or more. The analyst says cuts of between 7% and 12% are more likely, but also sees a chance that it could recommend no change. Either way, the view at Macquarie is that the Australian company is priced for price cuts of 16%-17%. Macquarie keeps its price target at 19.05 Australian dollars. Shares are down 1.4% at A$10.39. (stuart.condie@wsj.com)

0148 GMT - With few surprises expected at Telstra's annual result announcement in August, Bell Potter analyst Chris Savage is thinking about the Australian company's prospects for capital management. Savage tells clients in a note that the telecommunications provider's fiscal 2027 guidance is likely to be equally unremarkable relative to expectations, leaving its scope for buybacks as the key focus for investors. He reminds readers that Telstra has flagged dividend growth as a priority, so reckons that a A$750 million buyback is probably about what Telstra can afford. Bell Potter keeps a hold rating on the stock with an unchanged target price of 5.10 Australian dollars. Shares are down 1.2% at A$5.10. (stuart.condie@wsj.com)

1824 GMT - RBC Capital Markets bumps up its target for BlackBerry's shares but views the risk-reward as less attractive in light of the sharp rally the stock has seen. The Canadian tech company reported its largest earnings beat in the last year for 1Q, thanks to what RBC's Paul Treiber says was solid development seat license sales at its QNX unit and perpetual license revenue at its Secure Communications business. "While quarters may be lumpy due to one-time revenue, BlackBerry is moving into a period of headline growth following a period of transformation." RBC's target rises to $9 from $4.50 but it maintains a sector perform call. BlackBerry jumps 9%. (robb.stewart@wsj.com)

1744 GMT - Major cryptocurrencies are edging higher as bitcoin pushes back above the $60k mark. Focus among crypto investors is squarely on next steps for Michael Saylor's bitcoin-accumulation methods--with the bitcoin downturn enough to put Strategy Inc.'s bitcoin treasury underwater by roughly $10B to $15B. Today, Strategy announced that it might sell bitcoin to raise up to $1.25B in cash to help bolster its ability to pay dividends on its preferred-stock STRC. With that and $2.55B in cash, Saylor says Strategy can cover its STRC dividends for nearly 26 months. Strategy currently holds 847,363 BTC, worth over $50B. (kirk.maltais@wsj.com)

1730 GMT - Quantum computing provider Quantinuum stands to benefit as quantum computing adoption grows, Mizuho says in a note, initiating coverage with a $90 price target and an outperform rating. Analyst Vijay Rakesh estimates the quantum computing industry to grow from about a $1.1 billion a year run-rate in 2025 to approximately $15 billion in 2030 and $205 billion in 2035. Rakesh expects Quantinuum's 2031 revenue to be about $4.7 billion, growing at a near 131% CAGR from 2025-2031. (elias.schisgall@wsj.com)

1629 GMT - Quantinuum is well-positioned to capture the long-term opportunities of quantum computing, but risks and uncertainties remain around the technology, Morgan Stanley analysts write in a note, initiating coverage with an equal-weight rating and a $78 price target. "While we see substantial long-term optionality if quantum computing reaches broad commercial adoption, we believe the current valuation appropriately reflects both the opportunity and the considerable risks that remain," they write. The company's trapped-ion architecture and technical execution has been validated by third parties and suggests a "credible path to fault tolerance," they write, referring to the ability of quantum computers to avoid or correct for errors that emerge through the computing process. Quantinuum shares fall 2.6%. (elias.schisgall@wsj.com)

(END) Dow Jones Newswires

June 30, 2026 04:20 ET (08:20 GMT)

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