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Here is Why Phillips 66 (PSX) Fell This Week

The share price of Phillips 66 (NYSE:PSX) fell by 2.73% between January 9 and January 16, 2026, putting it among the Energy Stocks that Lost the Most This Week.

Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that is engaged in refining, transporting, and marketing fuels.

Phillips 66 (NYSE:PSX) surged to a 52-week high earlier this month after investors deemed the company as one of the largest potential beneficiaries from the US action in Venezuela, since its refineries are specifically designed to process heavy sour grade crude like that from the South American country. However, the stock has since witnessed a slight downturn, possibly due to investors taking their profits.

Moreover, on January 13, JPMorgan reduced its price target on Phillips 66 (NYSE:PSX) from $154 to $151, while maintaining an ‘Overweight’ rating on the shares. The revision comes as the firm adjusted its targets for recent commodity prices as part of a Q4 preview.

Similarly, earlier on January 12, Piper Sandler also lowered its price target on Phillips 66 (NYSE:PSX) from $155 to $153, but kept its ‘Neutral’ rating on the shares. The analyst believes US refiners will experience the largest near-term impact from the action in Venezuela. The firm expects the Venezuelan crude volumes arriving in the US to double from the current 200,000 bpd to 400,000 bpd, driven by a combination of US involvement and sanction relief.

While we acknowledge the potential of PSX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PSX and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 High Yield Crude Oil Stocks to Buy After Trump’s Blitz in Venezuela and 11 Best Performing Energy Stocks in 2025.

Disclosure: None.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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How could anything be worth that much?

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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This prediction might not be bold at all:

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