6 Reasons Why Bitcoin Will Hit $1,000,000 by 2030, According to Experts
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Retail adoption is continuing to grow. The number of bitcoin wallets holding at least $100 has reached levels close to historical highs. In January 2024, around 24 million of these wallets existed, and this number climbed to nearly 30 million in 2025, marking a 25% increase in one year.
Bitcoin miners activity also continues to rise, and the network's security has never been stronger. With the bitcoin mining hashrate exceeding 1,000 exahashes per second (EH/s) in August 2025, up 50% from the previous year, the network security has reached unprecedented levels.
However most significantly, governments worldwide are legitimizing Bitcoin as a strategic asset. Not only does the United States Government hold a significant amount of BTC (190,000 $BTC), but President Trump has signed an executive order recognizing Bitcoin as a strategic reserve asset, and incoming legislation is about to change everything: The U.S., as the dominant superpower of the world, is set to acquire 1,000,000 BTC over the course of the next 5 years in order to maximize BTC's strategic position as a unique store of value in the global financial system.
The implications are profound – for both global demand, and the brewing supply crunch.
Bitcoin's Supply Crunch: Not Enough for Everyone
Here's where the math gets interesting. We need to distinguish between Bitcoin's total supply and actual liquidity.
Of the theoretical 21 million Bitcoin that will ever exist, an estimated 2-4 million are assumed to be permanently lost. Of them, 800,000-1,000,000 are assumed to be held by Satoshi Nakamoto, Bitcoin's pseudonymous 'lost' founder.
On top of that, approximately 80% of the coins are held by long-term holders who refuse to sell at current prices and haven't moved their coins in many years.
This leaves only a few million Bitcoin actually available to be purchased by new and existing investors and users, as demonstrated by exchange liquidity. Only around 2 million BTC are held on exchanges and available for spot trading, primarily serving retail demand. Over-the-counter (OTC) desks, which handle institutional flows, are experiencing unprecedented demand pressure. New whales, wallets holding 1,000+ BTC with coins aged under six months, have doubled their holdings to 1.1 million BTC since March 2025.
This 600K BTC surge, which is around $71 billion, now represents 5.6% of the total supply, indicating intensified fresh capital inflows – mainly from institutional investors.
The situation gets more dire when we consider new supply entering the market. The April 2024 Bitcoin halving cut new supply issuance to ~900 BTC/day, and in 2028, this will halve again to just 450 Bitcoin per day. That's roughly 164,000 new Bitcoin annually – not even enough to satisfy one major institutional buyer.
In order for you to grasp the full scope of how big the supply crunch is, BlackRock's IBIT ETF (IBIT) alone, launched in January 2024, now holds almost 740,000 BTC. That's an average of 1,287 BTC acquired per day, already above the ~900 newly mined coins. When you add Strategy's (MSTR) acquisitions to the equation, that's another ~440,000 acquired over the same time period, or 763 per day.
The supply and liquidity constraints make it the perfect storm for the booming demand to send the price skyrocketing.
The Demand for Bitcoin: Everything, Everywhere, All at Once
The ״orange pill״ has reached governments and sophisticated investors who now understand Bitcoin's role as digital gold and as true competition to fiat money.
But here's the sobering reality: if every millionaire in the world wanted to hold just 1 Bitcoin, it would be mathematically impossible. With approximately 56 million millionaires globally and only 21 million Bitcoin that will ever exist (not to mention the millions already lost), the supply-demand imbalance becomes clear.
When you add the demand that's kicking in from governments, corporations, small & medium businesses and retail – all simultaneously coming to the conclusions they wish to hold BTC on their balance sheet and to hedge against the existing monetary system – the imbalance becomes significantly greater.
This realization alone, I believe, will trigger massive FOMO as individuals and institutions race to secure their positions.
The U.S. Government's Bitcoin Arms Race
The BITCOIN Act proposed by Sen. Cyntia Lummis would initiate a bitcoin purchase program with the goal of the U.S. acquiring a total stake of approximately 5% of total bitcoin supply — 1 million bitcoins, worth about $120 billion in today's prices. The bill directs the Treasury Department to purchase 200,000 bitcoins per year for five years in order to reach that goal. This isn't just policy – it's a declaration of war on scarcity.
The signal this sends to other governments is unmistakable: Bitcoin is now a strategic national asset. Countries worldwide will not only join this race but will likely print their own currencies to acquire Bitcoin, potentially causing fiat currency debasement in the process.
As of March 2025, El Salvador has over 6102 BTC in its reserves (worth $720 million at the time). We're seeing similar movements across multiple nations and U.S. states, with Abu Dhabi's sovereign wealth fund holding a stake of more than $680 million via ETFs, and China holding over 190,000 BTC as well.
The Stablecoin Multiplication Effect
The stablecoin market represents one of Bitcoin's most underestimated demand drivers. Citigroup Inc. analysts project it could grow to $3.7 trillion by 2030 from today's approximately $265 billion market. This isn't just growth – it's a complete transformation of how digital money flows work.
'Stablecoins represent a revolution in digital finance,' said U.S. Secretary of the Treasury Scott Bessent in a recent statement. 'This groundbreaking technology will buttress the dollar's status as the global reserve currency, expand access to the dollar economy for billions across the globe, and lead to a surge in demand for US Treasuries, which back stablecoins.'
The demand for stablecoins grows along with the demand for non-stablecoin crypto assets (as proxied by Bitcoins). As stablecoins become the rails for international commerce, trade settlement, and institutional treasury management, they create constant buying pressure for Bitcoin. Every stablecoin transaction, arbitrage opportunity, and institutional flow ultimately increases Bitcoin's velocity and value.
Remarkably, if Tether and Circle were to maintain their current market shares and their allocations to U.S. Treasury securities, together they could hold more than $660 billion in U.S. Treasuries, coming close to China's current holdings of $772 billion by 2030. This makes stablecoin issuers among the largest potential holders of U.S. government debt, creating a direct financial link between Bitcoin adoption and U.S. monetary policy.
If stablecoins grow 15X, the path for Bitcoin to grow 10X is becoming very clear.
Corporate Bitcoin Treasuries: The (Micro)Strategy Effect
The corporate treasury movement is just beginning. The rise of so-called crypto treasury companies have provided altcoins with a boost. This new wave of public companies, modeled on Michael Saylor's Strategy, have been issuing equity and debt to buy various tokens as investments. Strategy alone holds over 630,000 Bitcoin, and this strategy is being replicated across industries.
Companies are discovering they can essentially attack fiat currency by borrowing dollars at low interest rates to buy Bitcoin – a deflationary, scarce asset. This creates a positive feedback loop where corporate success with Bitcoin strategies encourages more companies to adopt similar approaches, further reducing Bitcoin's available supply.
With Tesla (TSLA), Block (SQ), Marathon Digital (MARA), Bullish (BLSH), Riot Platform (RIOT), Coinbase (COIN), Metaplanet (MTPLF) and Nakamoto already holding tens of thousands of BTC, it is only a matter of time until the cash-abundant companies like Microsoft (MSFT), Apple (AAPL), Google (GOOGL) and more – begin to stockpile BTC.
The Pension Fund Tsunami
Perhaps the most explosive demand catalyst is institutional pension adoption. US pension funds manage an estimated $40 trillion on behalf of their clients. When Trump expedited the regulatory process for institutional pension managers to hold Bitcoin, he unlocked the largest pool of investment capital in the world.
If just 1-3% of pension assets are allocated to Bitcoin – a conservative diversification move for any modern portfolio – we're talking about $400 billion to $1.2 trillion in new demand. But the real impact comes from passive flows: bi-weekly 401(k) deposits that will now automatically allocate to Bitcoin purchases would absorb Bitcoin's entire daily issuance of new coins almost immediately, creating sustained buying pressure that dwarfs anything the market has previously experienced.
Geopolitical Risk Premium
We're living in an unprecedented era of geopolitical instability. With active conflicts in Ukraine and tensions with Iran, plus the growing risk of broader conflicts such as a Chinese invasion to Taiwan, government debt levels are exploding just as military spending reaches new heights. Government debt-to-GDP ratios are already at historic levels, with deficits growing and the potential for sovereign defaults higher than ever.
If Bitcoin becomes priced as gold once was – as a credit default swap (CDS) insurance against government failure – that alone could justify valuations exceeding $1.5 million. In a world where trust in government institutions is eroding and monetary systems are failing, Bitcoin represents the only truly neutral, decentralized store of value that can't be printed, seized, or manipulated by any single government. However unlike gold, it can move between borders easily and cheaply, including in big amounts.
The Bitcoin Stars Are Aligning
To summarize, every major trend in finance, technology, and geopolitics is converging to create unprecedented demand for an asset with mathematically limited supply. We have:
Supply: Only 21 million Bitcoin ever, with 74% illiquid and new issuance halving every four years
Government demand: US targeting 1 million Bitcoin, other nations following suit
Institutional demand: Pension funds with $40 trillion in assets beginning allocation
Corporate demand: Treasury strategies driving sustained corporate buying, including with leverage
Stablecoin demand: $3.7 trillion market by 2030 creating constant Bitcoin buying pressure
Geopolitical demand: Bitcoin as insurance against failing government monetary systems
The convergence of these forces makes $1,000,000 Bitcoin by 2030 not just possible, but mathematically probable. We're not just witnessing another bull market – we're watching the birth of a new monetary system where Bitcoin becomes the ultimate reserve asset for individuals, corporations, and nations alike.
The only question isn't whether Bitcoin will reach $1,000,000, but whether you'll secure your position before the supply runs out.
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Toll Brothers (TOL) reported another double beat in its fiscal third quarter, but a slowdown in new orders weighed on the stock, which drifted 1.6% lower after hours. The homebuilder posted diluted earnings per share of $3.73 on home sale revenue of $2.88 billion. Wall Street analysts were expecting earnings per share of $3.64 on revenue of $2.85 billion. After a sluggish spring season in the housing market, there have been signs of a resurgence, with housing starts jumping in July. But mortgage rates that have barely budged, ongoing economic uncertainty, and affordability challenges for buyers continue to weigh on the sector. For the quarter, Toll Brothers noted it had 2,388 units under signed contract, a 4% decline from a year ago. Analysts had expected orders growth. "The average sales price of new contracts was $1.0 million, up 4.5% year-over-year," CEO Douglas Yearley said in the earnings release. "Contract dollars were flat despite a 4% decline in units. While affordability pressures and uncertain economic conditions persist, we are pleased with the resilience of our luxury business and more affluent customer base." La-Z-Boy stock drops on soft earnings and guidance La-Z-Boy stock (LZB) dropped 16% after hours after the company missed earnings estimates and navigated "soft industry demand." Overall, comparable sales dropped 1% to $492 million from a year ago. Sales in the furniture retailer's wholesale segment increased 1%, and retail sales rose 5%, but they were offset by weakness in the Joybird brand, which saw sales decline 14%. La-Z-Boy reported diluted earnings per share of $0.44, compared to $0.61 per share a year ago. The Street was looking for earnings of $0.52 per share. La-Z-Boy's guidance also came in lighter than expected. It expects sales in the range of $510 million to $530 million in the fiscal second quarter. Wall Street was looking for $532 million, according to S&P Global Market Intelligence. La-Z-Boy stock (LZB) dropped 16% after hours after the company missed earnings estimates and navigated "soft industry demand." Overall, comparable sales dropped 1% to $492 million from a year ago. Sales in the furniture retailer's wholesale segment increased 1%, and retail sales rose 5%, but they were offset by weakness in the Joybird brand, which saw sales decline 14%. La-Z-Boy reported diluted earnings per share of $0.44, compared to $0.61 per share a year ago. The Street was looking for earnings of $0.52 per share. La-Z-Boy's guidance also came in lighter than expected. It expects sales in the range of $510 million to $530 million in the fiscal second quarter. Wall Street was looking for $532 million, according to S&P Global Market Intelligence. Medtronic appoints 2 new board members, posts Q1 beat Irish medical device maker Medtronic (MDT) reported better-than-expected earnings for its fiscal first quarter on Monday. But the bigger story was the company's announcement that it would add two new directors to its board after activist investor Elliott Investment Management became one of its largest shareholders. Veteran med-tech executives John Groetelaars and Bill Jellison were appointed, the company said. Medtronic stock dropped over 3% in premarket trading. For the quarter, the company posted adjusted earnings of $1.26 per share, beating analysts' estimates for $1.23, according to S&P Global Market Intelligence. Revenue came in at $8.6 billion, above Wall Street's forecast of $8.4 billion. Read more here. Irish medical device maker Medtronic (MDT) reported better-than-expected earnings for its fiscal first quarter on Monday. But the bigger story was the company's announcement that it would add two new directors to its board after activist investor Elliott Investment Management became one of its largest shareholders. Veteran med-tech executives John Groetelaars and Bill Jellison were appointed, the company said. Medtronic stock dropped over 3% in premarket trading. For the quarter, the company posted adjusted earnings of $1.26 per share, beating analysts' estimates for $1.23, according to S&P Global Market Intelligence. Revenue came in at $8.6 billion, above Wall Street's forecast of $8.4 billion. Read more here. Home Depot slightly misses Wall Street's mark in Q2 earnings, reiterates guidance Home Depot (HD) released its second-quarter earnings on Tuesday. Yahoo Finance's senior reporter Brooke DiPalma looks at the latest from the retail giant and how the US housing slump has impacted its bottom line. Read more here. Home Depot (HD) released its second-quarter earnings on Tuesday. Yahoo Finance's senior reporter Brooke DiPalma looks at the latest from the retail giant and how the US housing slump has impacted its bottom line. Read more here. 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Palo Alto Networks stock pops on healthy earnings growth, guidance Palo Alto Networks (PANW) stock shot up 6% after hours after the company reported solid earnings and margin growth in its fiscal fourth quarter. The cybersecurity firm reported $2.54 billion in revenue in its fiscal fourth quarter (a 16% increase) and earnings per share of $0.95. Wall Street analysts expected revenue of $2.50 billion and earnings of $0.89 per share, according to S&P Global Market Intelligence. Shares of Palo Alto Networks are off by 10% over the past month due to a drawdown following the company's $25 billion acquisition of identity security solutions provider CyberArk. But guidance for full-year adjusted EPS of $3.75 to $3.85 also came in above expectations amid the deal. "Cybersecurity is a clear 2nd/3rd derivative play on the AI Revolution with PANW in the driver's seat to gain market/mind share in the cybersecurity landscape," Wedbush analyst Dan Ives wrote in a note ahead of earnings. Ives added, "the continued shift to the cloud [is] putting the company in a strong position to accelerate deal flow as more strategic enterprise AI projects take hold over the coming year." Palo Alto Networks (PANW) stock shot up 6% after hours after the company reported solid earnings and margin growth in its fiscal fourth quarter. The cybersecurity firm reported $2.54 billion in revenue in its fiscal fourth quarter (a 16% increase) and earnings per share of $0.95. Wall Street analysts expected revenue of $2.50 billion and earnings of $0.89 per share, according to S&P Global Market Intelligence. Shares of Palo Alto Networks are off by 10% over the past month due to a drawdown following the company's $25 billion acquisition of identity security solutions provider CyberArk. But guidance for full-year adjusted EPS of $3.75 to $3.85 also came in above expectations amid the deal. "Cybersecurity is a clear 2nd/3rd derivative play on the AI Revolution with PANW in the driver's seat to gain market/mind share in the cybersecurity landscape," Wedbush analyst Dan Ives wrote in a note ahead of earnings. Ives added, "the continued shift to the cloud [is] putting the company in a strong position to accelerate deal flow as more strategic enterprise AI projects take hold over the coming year." Goldman's Kostin says S&P 500 earnings surge past expectations Bloomberg reports: Read more here. Bloomberg reports: Read more here. Walmart, Target quarterly results on deck next week The focus turns to retailers next week as heavyweights Walmart (WMT), Target (TGT), Lowe's (LOW), and Home Depot (HD) report results. Investors will be listening for changes in consumer behavior as tariffs and inflation remain top concerns for households. Earlier this earnings season, Amazon CEO Andy Jassy noted that the company wasn't seeing diminishing demand or meaningful price increases. Similarly, Mastercard CEO Michael Miebach said consumer spending remains healthy. However, recent data showed retail sales rose by less than expected in July. And some companies, particularly fast-casual restaurants, noted their customers were pulling back. With that mixed picture in the backdrop, the earnings calendar next week should provide additional insights from some of the big brands Americans shop. Here's what's on deck: Monday Palo Alto Networks (PANW), Blink Charging (BLNK) Tuesday Home Depot, Xpeng (XPEV), Medtronic (MDT), La-Z-Boy (LZB), Toll Brothers (TOL) Wednesday Target, Lowe's, Baidu (BIDU), TJX Companies (TJX), Estée Lauder (EL) Thursday Walmart, Intuit (INTU), Zoom Communications (ZM), Workday (WDAY), Ross Stores (ROST) Friday BJ's Wholesale (BJ) The focus turns to retailers next week as heavyweights Walmart (WMT), Target (TGT), Lowe's (LOW), and Home Depot (HD) report results. Investors will be listening for changes in consumer behavior as tariffs and inflation remain top concerns for households. Earlier this earnings season, Amazon CEO Andy Jassy noted that the company wasn't seeing diminishing demand or meaningful price increases. Similarly, Mastercard CEO Michael Miebach said consumer spending remains healthy. However, recent data showed retail sales rose by less than expected in July. And some companies, particularly fast-casual restaurants, noted their customers were pulling back. With that mixed picture in the backdrop, the earnings calendar next week should provide additional insights from some of the big brands Americans shop. Here's what's on deck: Monday Palo Alto Networks (PANW), Blink Charging (BLNK) Tuesday Home Depot, Xpeng (XPEV), Medtronic (MDT), La-Z-Boy (LZB), Toll Brothers (TOL) Wednesday Target, Lowe's, Baidu (BIDU), TJX Companies (TJX), Estée Lauder (EL) Thursday Walmart, Intuit (INTU), Zoom Communications (ZM), Workday (WDAY), Ross Stores (ROST) Friday BJ's Wholesale (BJ) With Nvidia's Q2 earnings in sight, Trump deal could boost outlook Nvidia's (NVDA) deal with President Trump to give the US government a 15% cut of H20 chip revenue in China adds an interesting wrinkle to the company's earnings. China has responded by urging companies not to use the chips. Yahoo Finance's Daniel Howley writes that the payment, which could face legal challenges, won't show up in Nvidia's Q2 report but could boost its Q3 outlook if the administration moves quickly. Howley notes: Read more here. Nvidia's (NVDA) deal with President Trump to give the US government a 15% cut of H20 chip revenue in China adds an interesting wrinkle to the company's earnings. China has responded by urging companies not to use the chips. Yahoo Finance's Daniel Howley writes that the payment, which could face legal challenges, won't show up in Nvidia's Q2 report but could boost its Q3 outlook if the administration moves quickly. Howley notes: Read more here. McGraw Hill posts profitable quarter in first post-IPO earnings report McGraw Hill (MH) stock gained 2% after reporting its first quarterly results since going public. It traded around $13.61 on Thursday afternoon. In July, shares opened at $17 apiece in the company's IPO. Total revenue increased 2.4% year over year to $535.7 million. The education solutions company also swung to a $0.5 million profit, compared to its $9.4 million loss a year ago. Market share gains, enrollment, and continued demand for digital learning solutions fueled the higher education business, which saw revenue jump 14.1% year over year. Revenue for the K-12 segment, however, declined 1.4%. These two business units make up the bulk of McGraw Hill's business. The smaller international business noted weakness, with an 11.7% decrease in revenue, while sales in the global professional business held steady. For 2026, McGraw Hill sees revenue in a range of $1.98 billion to $2.04 billion. Listen to the earnings call here. McGraw Hill (MH) stock gained 2% after reporting its first quarterly results since going public. It traded around $13.61 on Thursday afternoon. In July, shares opened at $17 apiece in the company's IPO. Total revenue increased 2.4% year over year to $535.7 million. The education solutions company also swung to a $0.5 million profit, compared to its $9.4 million loss a year ago. Market share gains, enrollment, and continued demand for digital learning solutions fueled the higher education business, which saw revenue jump 14.1% year over year. Revenue for the K-12 segment, however, declined 1.4%. These two business units make up the bulk of McGraw Hill's business. The smaller international business noted weakness, with an 11.7% decrease in revenue, while sales in the global professional business held steady. For 2026, McGraw Hill sees revenue in a range of $1.98 billion to $2.04 billion. Listen to the earnings call here. Quantum Computing stock slips as losses accelerate Quantum Computing (QUBT) CEO Yuping Huang said that the company continued to make progress in growing commercial traction in the second quarter, but the industry is still focused on reaching technology milestones. Second quarter revenue totaled approximately $61,000, compared to $183,000 in the same period a year ago. The company reported a net loss of $36.5 million, or $0.26 per share. In Q2 2024, Quantum Computing posted a net loss of $5.2 million, or $0.06 per share. Quantum Computing stock fell 2.3% after hours in what's been a whipsaw year for quantum stocks. In June, the stock spiked 25% in one day after Nvidia CEO Jensen Huang said quantum computing "is reaching an inflection point." But the industry is still in its infancy. The other big quantum player, Rigetti Computing (RGTI), reported a technology breakthrough in its recent results but also big losses. "We are talking of a market that's hundreds of billions of dollars a decade or two from now," Rigetti CEO Subodh Kulkarni told Market Domination Overtime. "But right now, we are clearly in the R&D stage. We clearly need to perfect the technology to get to that big milestone in about four years, which we call quantum advantage." Read more about quantum computing here. Quantum Computing (QUBT) CEO Yuping Huang said that the company continued to make progress in growing commercial traction in the second quarter, but the industry is still focused on reaching technology milestones. Second quarter revenue totaled approximately $61,000, compared to $183,000 in the same period a year ago. The company reported a net loss of $36.5 million, or $0.26 per share. In Q2 2024, Quantum Computing posted a net loss of $5.2 million, or $0.06 per share. Quantum Computing stock fell 2.3% after hours in what's been a whipsaw year for quantum stocks. In June, the stock spiked 25% in one day after Nvidia CEO Jensen Huang said quantum computing "is reaching an inflection point." But the industry is still in its infancy. The other big quantum player, Rigetti Computing (RGTI), reported a technology breakthrough in its recent results but also big losses. "We are talking of a market that's hundreds of billions of dollars a decade or two from now," Rigetti CEO Subodh Kulkarni told Market Domination Overtime. "But right now, we are clearly in the R&D stage. We clearly need to perfect the technology to get to that big milestone in about four years, which we call quantum advantage." Read more about quantum computing here. Applied Materials stock sinks as policy uncertainty weighs on Q4 guidance Applied Materials (AMAT) recorded an earnings beat for the July quarter but said that the "dynamic" policy environment is creating uncertainty for the business. That led the chip equipment maker to issue a revenue forecast of $6.7 billion for the fourth quarter, below what the Street was expecting. 'We are expecting a decline in revenue in the fourth quarter driven by both digestion of capacity in China and nonlinear demand from leading-edge customers given market concentration and fab timing,' CFO Brice Hill said. 'We are navigating and adapting to the near-term uncertainties by leveraging our robust supply chain, global manufacturing footprint and deep customer relationships.' The company, whose clients include Taiwan Semiconductor and Intel, posted record revenue of $7.30 billion in Q3, up 8% year over year, surpassing estimates for $7.2 billion. Earnings per share of $2.48 also beat estimates by $0.12. Applied Materials stock fell 11% in after-hours trading. Read more here. Applied Materials (AMAT) recorded an earnings beat for the July quarter but said that the "dynamic" policy environment is creating uncertainty for the business. That led the chip equipment maker to issue a revenue forecast of $6.7 billion for the fourth quarter, below what the Street was expecting. 'We are expecting a decline in revenue in the fourth quarter driven by both digestion of capacity in China and nonlinear demand from leading-edge customers given market concentration and fab timing,' CFO Brice Hill said. 'We are navigating and adapting to the near-term uncertainties by leveraging our robust supply chain, global manufacturing footprint and deep customer relationships.' The company, whose clients include Taiwan Semiconductor and Intel, posted record revenue of $7.30 billion in Q3, up 8% year over year, surpassing estimates for $7.2 billion. Earnings per share of $2.48 also beat estimates by $0.12. Applied Materials stock fell 11% in after-hours trading. Read more here. Earnings and revenue beats lift Dillard's stock Dillard's (DDS) stock rose 7% on Thursday after the department store chain reported revenue and profit beats for the quarter. Net income fell to $72.8 million compared to $74.5 million a year ago, but earnings per share rose $0.07 year over year after the Arkansas-based company bought back stock. Revenue of $1.53 billion beat Wall Street estimates of $1.52 billion, according to S&P Global Market Intelligence. Earnings per share of $4.66 also topped estimates of $4.00 per share. Total retail sales were flat, with strength in juniors' and children's apparel as well as ladies' accessories and lingerie. The weakest performing category was home and furniture. Other major retailers, including Walmart (WMT), Target (TGT), and Macy's (M), will report second quarter results in the coming weeks, providing a more in-depth look into consumer spending habits. Dillard's stock is up 23% year to date. It has climbed 78% since its April 8 low. Dillard's (DDS) stock rose 7% on Thursday after the department store chain reported revenue and profit beats for the quarter. Net income fell to $72.8 million compared to $74.5 million a year ago, but earnings per share rose $0.07 year over year after the Arkansas-based company bought back stock. Revenue of $1.53 billion beat Wall Street estimates of $1.52 billion, according to S&P Global Market Intelligence. Earnings per share of $4.66 also topped estimates of $4.00 per share. Total retail sales were flat, with strength in juniors' and children's apparel as well as ladies' accessories and lingerie. The weakest performing category was home and furniture. Other major retailers, including Walmart (WMT), Target (TGT), and Macy's (M), will report second quarter results in the coming weeks, providing a more in-depth look into consumer spending habits. Dillard's stock is up 23% year to date. It has climbed 78% since its April 8 low. Advance Auto Parts stock sinks 14% on gloomy financial outlook Advance Auto Parts (AAP) stock sank 14% on Thursday morning after issuing a downbeat profit forecast. The Raleigh, N.C.-based company beat Wall Street's earnings estimates but lowered its full-year earnings per share outlook to $1.20-$2.20 from its previous range of $1.50-$2.50. Advance Auto Parts attributed this change to a higher net interest expense related to its recent senior notes offering. In the earnings call, executives noted that approximately 40% of the company's cost of goods is exposed to tariffs at a blended rate of 30%. During the quarter, Advance Auto Parts saw lower transactions but higher tickets, as prices increased by 2%. The company noted that its competitors are also raising prices in a similar fashion. "If you look at the maybe lower to mid-income cohorts, they are more pressured than others right now," CFO Ryan Grimsland said about the price impacts of tariffs. "The wages aren't necessarily fully keeping up with some of the inflation that's in there. And so there are trade-offs that they're making. And we're still seeing that. It'd be interesting to see how that plays out in the back half of the year." Advance Auto Parts (AAP) stock sank 14% on Thursday morning after issuing a downbeat profit forecast. The Raleigh, N.C.-based company beat Wall Street's earnings estimates but lowered its full-year earnings per share outlook to $1.20-$2.20 from its previous range of $1.50-$2.50. Advance Auto Parts attributed this change to a higher net interest expense related to its recent senior notes offering. In the earnings call, executives noted that approximately 40% of the company's cost of goods is exposed to tariffs at a blended rate of 30%. During the quarter, Advance Auto Parts saw lower transactions but higher tickets, as prices increased by 2%. The company noted that its competitors are also raising prices in a similar fashion. "If you look at the maybe lower to mid-income cohorts, they are more pressured than others right now," CFO Ryan Grimsland said about the price impacts of tariffs. "The wages aren't necessarily fully keeping up with some of the inflation that's in there. And so there are trade-offs that they're making. And we're still seeing that. It'd be interesting to see how that plays out in the back half of the year." China's tops quarterly revenue estimates on steady e-commerce demand Chinese e-commerce giant (JD) rose 1% in premarket trading after the company beat estimates for quarterly revenue on Thursday, highlighting robust shopping traffic. However, profits halved year over year. Total revenue rose 22.4% to 356.66 billion yuan ($49.73 billion) during the second quarter, above analysts' average estimate of 331.63 billion yuan. Profit fell by more than 50% to 6.2 billion yuan ($864 million) from 12.6 billion yuan a year earlier as the company invests in new businesses such as food delivery, competing with Meituan (MPNGY) and Alibaba (BABA). Reuters reports: Read more here. Chinese e-commerce giant (JD) rose 1% in premarket trading after the company beat estimates for quarterly revenue on Thursday, highlighting robust shopping traffic. However, profits halved year over year. Total revenue rose 22.4% to 356.66 billion yuan ($49.73 billion) during the second quarter, above analysts' average estimate of 331.63 billion yuan. Profit fell by more than 50% to 6.2 billion yuan ($864 million) from 12.6 billion yuan a year earlier as the company invests in new businesses such as food delivery, competing with Meituan (MPNGY) and Alibaba (BABA). Reuters reports: Read more here. Tapestry forecasts annual profit below estimates on tariff pain Tapestry (TPR) stock fell 8% before the bell on Thursday after the Coach handbag maker forecast annual profit below estimates. The company cited higher costs due to tariffs that have hit its margins. Reuters reports: Read more here. Tapestry (TPR) stock fell 8% before the bell on Thursday after the Coach handbag maker forecast annual profit below estimates. The company cited higher costs due to tariffs that have hit its margins. Reuters reports: Read more here. Lenovo stock drops despite profit beat Lenono Group LTD., the world's top PC maker, reported better-than-expected profit on PC sales but the stock dropped on worries over its cloud division. From Bloomberg Intelligence: Read more here. Lenono Group LTD., the world's top PC maker, reported better-than-expected profit on PC sales but the stock dropped on worries over its cloud division. From Bloomberg Intelligence: Read more here. Deere's third-quarter profit falls, stock drops (Reuters) – Farm-equipment maker Deere & Co reported a lower third-quarter profit and tightened its annual profit forecast on Thursday, pressured by headwinds from U.S. tariffs and muted demand. ... Deere's net income in the third quarter came in at $1.29 billion, or $4.75 per share, compared with $1.73 billion, or $6.29 per share, a year earlier. Overall, quarterly sales fell about 9% to $12.02 billion from a year ago. Read more here. (Reuters) – Farm-equipment maker Deere & Co reported a lower third-quarter profit and tightened its annual profit forecast on Thursday, pressured by headwinds from U.S. tariffs and muted demand. ... Deere's net income in the third quarter came in at $1.29 billion, or $4.75 per share, compared with $1.73 billion, or $6.29 per share, a year earlier. Overall, quarterly sales fell about 9% to $12.02 billion from a year ago. Read more here. Birkenstock beats profit estimates on strong full-price footwear sales Reuters reports: Read more here. Reuters reports: Read more here.
Yahoo
5 minutes ago
- Yahoo
US to hold more than 30 offshore oil and gas auctions through 2040
(Reuters) -U.S. President Donald Trump's administration on Tuesday unveiled a comprehensive schedule to hold more than 30 offshore oil and gas lease sales in the Gulf of Mexico and Alaska's Cook Inlet over the next 15 years. WHY IT'S IMPORTANT The plan fulfills a directive in Trump's One Big Beautiful Bill Act, which passed last month, and is aligned with his administration's energy dominance agenda to boost domestic fossil fuel production. The schedule marks a significant departure from former President Joe Biden, whose administration had planned for a historically small number of drilling rights auctions as part of its efforts to address climate change. KEY QUOTE "The One Big Beautiful Bill Act is a landmark step toward unleashing America's energy potential," Interior Secretary Doug Burgum said in a statement. "Under President Trump's leadership, we're putting in place a bold, long-term program that strengthens American Energy Dominance, creates good-paying jobs and ensures we continue to responsibly develop our offshore resources." BY THE NUMBERS The schedule includes 30 lease sales through 2040 in the Gulf of Mexico, which Trump has renamed the Gulf of America. The first Gulf sale is set for Dec. 10 of this year. Starting next year, there will be two sales in the Gulf annually through 2039 and one in 2040. Six lease sales are planned for Alaska's Cook Inlet through 2032. The first will be held in March of 2026.
Bloomberg
5 minutes ago
- Bloomberg
Apple Moves to Reduce Reliance on China for US iPhones
Live on Bloomberg TV CC-Transcript 00:00What was so interesting is this brought the ire of President Trump. He was frustrated that Apple was doing more of its manufacturing in India, shifting from China. He wanted it in the US. But has Tim Cook done enough therefore in the United States to offset this? I think Tim Cook eventually will do enough in the United States to offset it. But today the answer to that is now, and it's not unexpected that they move this to India. They've been working with India since roughly 2017. So it takes a long time to build manufacturing. So you just don't go in no matter who you are, president or not, and say you're going to build tomorrow. It takes time to build chapters, takes time. So how much do you think ultimately will be sourced from India into the United States? Is it only going to be iPhones and other accessories? Well, I think we're starting to see other plants come online in the US, for example, in Houston. When we look at what they want to do with Apple intelligence and servers for that, they are building that and that's coming online in 2026. So that's an example of some of the products that will be built here. But the iPhone manufacturing, I expect that it will take several years to get it up and running. Any major significant U.S. presence and this is part of the reason why there is roughly $600 billion earmarked towards creating manufacturing in the US, and that comes in many different forms. Part of that will be for servers, but you have to envision that part of that will also be for iPhones. Let's talk about what's happening here in the United States, because today we understand that Apple is unfolding its academy. This is all about training here in the United States. Who exactly is it for and what production could that ultimately lead to here? So one of the things that we have happening right now is AI is very complicated and businesses actually don't know where to get started. So the concept behind the Apple Academy is for small, medium businesses to understand effectively what they need to know to build next generation manufacturing, which would be highly hybrid. And that is going to be a multi-day program that small and medium businesses sign up for. They currently have a waitlist at this point. For the next wave of that, they will be running those courses throughout the year. And then once you've gone through the course, there's an opportunity to discuss more detailed discussions about what kind of products and services they need with Apple engineers that can help you to do something that's more specific to your organization. This is to fill a skills gap. You know, we have plenty of education programs in high school and above to try to bring in new employees. But if you're actually a business running today, especially a small medium business, there's very few options for you. So this is both an opportunity to educate small businesses and also put them in the pipeline to buy Apple products and services moving forward. Really interesting you talk about this is the skills gap. Prior to this, of course, President Trump has talked a lot about the production gap and where he wants to see that rectified. Just take a listen to what he said on August the sixth. We're doing these things now in the United States instead of other countries, faraway countries. This is a significant step toward the ultimate goal of ensuring that iPhones sold in the United States of America also are made in America with a mass infusion of capital that's announcing today. Apple will also build a 250,000 square foot server manufacturing facility in Houston and invest billions of dollars to construct data centers across the country from North Carolina to Iowa to Oregon. Marvel, you so thoughtfully put us right on the medium sized businesses that really have nowhere to go when it comes to upskilling and being able to facilitate production. What is it that Apple brings by training? Because really the anxiety for Tim Cook has been they haven't got the tooling engineers in the United States that they have in China, that they have in India. Is that what is going after longer term? I think yes is the short answer, but it's actually a very broad field when you think about what we're moving into, moving forward. There's been a lot of discussion of physical robotics and a lot of that will be in manufacturing. It could be for iPhones, it could be for automotive. The reason that they picked Detroit is not lost. It's a manufacturing culture. There are companies there, but we are running into this gap where these organizations don't have data scientists. They don't understand machine learning as an example. So we're starting with things that is, you know, on the inside machine learning, which is a basic way to start and then moving forward. So these are short courses. The Apple engineers that are there are actually basically doing rotations to spend some time helping with small medium businesses, but they're also still doing their day job. So there wasn't a net new investment in terms of employees, but there is that new investment in terms of getting organizations to understand what is required for them to participate in the next generation economy. That's stage one. Well, alongside that stage is what companies are listening to in terms of what's needed in terms of manufacturing here in the US on the most sophisticated chips. I turn our attention to what's happening with Intel at the moment. I mean, we just heard from President Trump on this, the sixth, what he wants of Apple. How do you make of the state that they might take an intel? I think we really were in the situation where the concept of a US chip manufacturer was almost going to go away. There was just so many discussions about what would happen to Intel, and I think the US government saying we're going to step in, we're going to take an equity stake, some of that chips back money that we had talked about in the Biden administration that was actually going to go away. It's actually now come back and the context of how that comes back, if you look at it as an investment and equity stake, it is really to try to create confidence in Intel as a long standing player to take away that risk. Buyers do not want to invest in a chip company where they think there to be risk. These are multiyear deals that we're talking about, plans that I talk to you today about, something I want to have come online in three years, but I don't think you're going to be there in three years. I'm not calling it. And so part of this strategy is to take away some of that risk, to give Intel a foundation where they think they can execute on the strategy that they need to execute on without it all being at the whim of. How does the market feel about you?
