NEW YORK, July 6, 2026, 14:01 (EDT)
- Ford Motor Company NYSE:F was up around 3.4% at $13.815 in recent trading. That move outpaced the SPDR S&P 500 ETF Trust NYSEARCA:SPY, which added roughly 0.7%.
- The NYSE traded Monday, with Independence Day marked on Friday, July 3 as per the exchange calendar.
- Ford said Q2 U.S. sales were down 10.3%. F-Series gross stock totaled 190,400 units, close to the 197,900 units sold in Q2.
- Analysts are looking for just a small move up in Ford. The average target on the stock stands at $14.78, compared with Ford’s last close at $13.815.
Ford Motor Company NYSE:F was up 45.5 cents at $13.815 around 13:46 EDT Monday, trading 35.3 million shares. The new supply numbers pointed to a tougher outlook for Ford stock in the back half, despite sales numbers that looked weaker on the surface. General Motors Company NYSE:GM gained about 2.4%. Tesla Inc NASDAQ:TSLA was up roughly 5.4%, while Rivian Automotive Inc NASDAQ:RIVN added about 5.5%.
U.S. stocks got back to full trading Monday after the July 4 holiday break. Ford’s (F) next earnings aren’t due until July 28, so traders are weighing a new memory-chip supply deal and Ford’s June inventories.
Micron Technology NASDAQ:MU and Ford have struck a long-term deal to lock in memory and storage supplies for Ford’s future lineup, Reuters said Monday. Reuters added that DRAM prices are up about 70% since December, and car makers now need more chips as new vehicles get more advanced tech and infotainment features. “As vehicles become more intelligent and data-intensive, the importance of advanced memory and storage continues to grow, making collaboration and long-term supply increasingly important,” Micron CEO Sanjay Mehrotra said. Reuters
Chip deals are about supply risk, but the bigger question for the stock shows up in Ford’s own gross stock data. At the end of June, F-Series gross stock stood at 190,400 units, which is 96.2% of F-Series U.S. sales for the quarter. Trucks make up 61.3% of Ford’s total 471,000 gross stock units. That’s the section that could move the earnings picture if demand keeps up.
| Ford data point | Latest figure | Market read |
|---|---|---|
| Q2 total U.S. vehicle sales | 549,200, down 10.3% | Headline sales missed |
| Q2 sales excluding model transitions and flat rental volumes | Estimated up 0.5% | Ford blamed weak print on stuff besides retail |
| Q2 F-Series sales | 197,900, down 11.0% | Pickup sales stayed light |
| June F-Series gross stock | 190,400 | That’s 96.2% of Q2 F-Series sales |
| Ford trucks gross stock | 288,800 | Makes up 61.3% of all company stock |
| Ford Pro paid software subscriptions | More than 900,000, up about 20% in H1 | Still seeing growth from services |
Ford reported Q2 total sales dropped, blaming model phase-outs and a 69% hit to daily rental sales. Retail share in June edged up 0.2 point to 12.3%, lifted by SUVs and F-Series trucks with better margins. “Gaining retail market share last month even as we are phasing out some high-volume models shows the strength of the Ford lineup,” said Andrew Frick, president of Ford Blue and Model e. Q4 Investor Relations
Ford’s stockpile of pickups could give it a lift if commercial demand picks up later in the year. But if demand doesn’t come through, Ford may have to offer incentives to clear out inventory. The company said F-Series sales in the first half took a hit as it adjusted timing on commercial production following last year’s aluminum supply issues. Ford expects supply to improve more in the back half.
| Market screen | Ticker | Latest price | Day move | Market cap |
|---|---|---|---|---|
| Ford shares moved up | NYSE:F | $13.815 | +3.4% | $56.2 bln |
| GM stock gained | NYSE:GM | $77.82 | +2.4% | $72.1 bln |
| Tesla climbed higher | NASDAQ:TSLA | $414.84 | +5.4% | $1.47 trln |
| Rivian traded up | NASDAQ:RIVN | $19.66 | +5.5% | $24.6 bln |
| S&P 500 ETF edged higher | NYSEARCA:SPY | $750.20 | +0.7% | $664.3 bln |
Ford still trades on auto stock multiples, not growth numbers, according to forecasts. Barron’s lists an average price target of $14.78, with targets ranging from $11 up to $20. The average calls for about 7% upside from $13.815. The low target means a possible drop of 20.4%.
| Forecast measure | Low | Average | High | Read from latest Ford price |
|---|---|---|---|---|
| 12-month price target | $11.00 | $14.78 | $20.00 | Median view is up about 7.0% |
| Q2 2026 EPS | $0.23 | $0.35 | $0.41 | Results expected July 28 |
| FY 2026 EPS | $1.35 | $1.67 | $1.85 | Stock trades at roughly 8.3x average EPS |
| FY 2027 EPS | $1.35 | $1.83 | $2.07 | That’s about 7.5x average EPS |
Ford and Ford Motor Credit are expected to report Q2 earnings at 4:05 p.m. ET on July 28. CEO Jim Farley, CFO Sherry House and top management will hold a call an hour later at 5 p.m. ET. Investors are watching if the 190,400-unit F-Series inventory ends up as profit in the second half or becomes a concern for dealers.
Related articles: NYSE:F
