Consumer Tech News (August 18–August 22): Powell Turns Dovish As Walmart, Target Earnings Steer Sentiment, While AI Hangover Hits Palantir

Nabaparna Bhattacharya

August 24, 2025

As the Wall Street earnings season is ending, Fed Chair Jerome Powell’s Jackson Hole remarks--acknowledging still-restrictive policy and softening labor data--tilted decisively dovish, hinting rate cuts could arrive soon.

Retail heavyweights Walmart (NYSE:WMT), Target (NYSE:TGT), and TJX Companies (NYSE:TJX) kept the consumer front and center with fresh quarterly prints.

While fading AI euphoria sparked an early-week tech selloff--punctuated by a ~20% slump in Palantir Technologies (NYSE:PLTR)--risk assets ripped higher into week’s end.

With that context, here's how marquee consumer-tech and retail names stacked up this week.

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Earnings:

Intuit Inc.’s (NASDAQ:INTU) first-quarter revenue guidance fell short of estimates. Multiple analysts lowered their price forecasts following the report.

Walmart Inc. (NYSE:WMT) reported second-quarter adjusted earnings per share of 68 cents, missing the analyst consensus estimate of 74 cents.

Target Corporation (NYSE:TGT) reported second-quarter adjusted earnings per share of $2.05, beating the analyst consensus estimate of $2.03.

TJX Companies, Inc. (NYSE:TJX) reported second-quarter earnings per share of $1.10, beating the analyst consensus estimate of $1.01. Quarterly sales of $14.40 billion (+7% year over year) outpaced the Street view of $14.13 billion.

Technology:

Apple Inc. (NASDAQ:AAPL) is reportedly in talks with Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google to use its Gemini AI models to revamp Siri.

Apple has reintroduced the blood-oxygen monitoring feature to its Apple Watch lineup after U.S. Customs and Border Protection approved imports of the devices -- a decision that medical technology firm Masimo Corporation (NASDAQ:MASI) is now challenging in court.

Meta Platforms, Inc. (NASDAQ:META) is set to unveil its first consumer-ready smart glasses featuring display technology at next month’s Connect conference.

Palantir Technologies Inc. (NASDAQ:PLTR) CEO Alex Karp executed a massive $62.7 million stock sale over two days, according to Securities and Exchange Commission Form 4 filings.

Microsoft Corporation’s (NASDAQ:MSFT) artificial intelligence hief Mustafa Suleyman warned on Tuesday about emerging risks from “Seemingly Conscious AI” (SCAI) systems, arguing the technology could create dangerous societal divisions and psychological dependencies among users.

Broadcom Inc. (NASDAQ:AVGO) is riding the artificial intelligence boom as soaring Big Tech investments in data infrastructure fuel demand for its custom chips and networking solutions, propelling the stock to strong year-to-date gains even as the company faces regulatory challenges in Europe.

Artificial Intelligence:

ChatGPT-parent OpenAI has asked a court to compel Meta Platforms to produce documents tied to Elon Musk’s unsolicited $97 billion takeover bid, raising new questions about the extent of Mark Zuckerberg’s involvement in the high-stakes legal battle.

OpenAI will establish its first India office in New Delhi later this year, targeting its second-largest user market with localized operations and competitive pricing strategies.

Chinese tech and EV stocks surged Friday after AI startup DeepSeek unveiled its upgraded V3.1 AI model designed to run on domestic chips, igniting optimism around Beijing’s drive for AI independence just as NVIDIA Corporation (NASDAQ:NVDA) halted production of its China-only H20 chip.

Elon Musk has announced plans to simulate software companies such as Microsoft Corporation using artificial intelligence (AI). Musk’s AI firm, xAI, is said to be creating an AI-only software company named “Macrohard.”

Automobile:

The Tesla, Inc. (NASDAQ:TSLA) Cybertruck has received a revised 5-star crash test rating for both the driver and passenger from the NHTSA, or the National Highway Traffic Safety Administration.

Nvidia Corporation (NASDAQ:NVDA) and Uber Technologies, Inc. (NYSE:UBER) are among the companies backing Tesla’s Robotaxi rival Nuro Inc. in its latest funding round. The company announced on Thursday that it secured $203 million in series E funding, taking the valuation of the self-driving startup to over $6 billion.

Tesla raised the price of the range-topping Cyberbeast trim from the original $99,990 to $114,990, the company’s official website showed on Thursday.

WeRide Inc. (NASDAQ:WRD) announced on Thursday that it launched WePilot AiDrive, a one-stage end-to-end ADAS (Advanced Driver Assistance System) solution, developed with Tier 1 supplier Bosch.

Ford Motor Company (NYSE:F) will begin production activities at the Kentucky EV battery plant, which the company established alongside South Korean Battery Manufacturer SK On.

NIO Inc. (NYSE:NIO) revealed that its third-generation ES8 SUV is already on display at more than 300 of its retail outlets across China.

XPeng Inc.’s (NYSE:XPEV) second-quarter vehicle deliveries increased 241.6% Y/Y to 103,181, up 9.75% from 94,008 in the first quarter.

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