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Wall Street seems worried about Apple — and divided over its stock

Business Insider

Business Insider · 1y ago

Wall Street seems worried about Apple — and divided over its stock

Apple's decision to lay off more than 600 employees in California reflects the company's challenges and its impact on stock prices. The company is reportedly pulling back from its electric vehicle and Apple Watch display projects while exploring the development of robots for household tasks. Analysts are divided over Apple's outlook, with some suggesting that investing in robots would be a costly distraction. Concerns about the company's loss of focus and its falling stock price have emerged. However, Apple remains a mainstay in many stock portfolios due to factors like dividend payouts and share buybacks. Analysts still view Apple as a world-class business navigating a tough period.

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Elon Musk says '3 years of random testing' found no traces of drug use as he fires back at bombshell WSJ report

Business Insider

Business Insider · 1y ago

Elon Musk says '3 years of random testing' found no traces of drug use as he fires back at bombshell WSJ report

Elon Musk has refuted a Wall Street Journal report alleging concerns over his drug use by stating that three years of random testing conducted under NASA's request found no traces of illegal substances in his system. The Tesla CEO's response comes after the WSJ report claimed that executives at Musk's companies were worried about his drug use, including cocaine, LSD, ecstasy, and ketamine. However, Musk dismissed the report and criticized it as unworthy of credibility.

US tech, retail stocks lead rout after tariff shock

Economic Times

Economic Times · 3m ago

US tech, retail stocks lead rout after tariff shock

U.S. President Donald Trump's new tariffs triggered a global stock market sell-off, impacting key industries like retail and technology. Major retailers and Apple shares fell sharply due to their reliance on Asian suppliers. The tariffs affect production hubs, potentially increasing costs and lowering profit margins. Analysts express concerns over global supply chain disruptions and economic slowdown. U.S. stock futures dropped, volatility increased, and major Wall Street lenders faced declines, while semiconductors might face indirect impacts.

Apple brings ChatGPT and more AI to devices, Wall Street unimpressed

Economic Times

Economic Times · 1y ago

Apple brings ChatGPT and more AI to devices, Wall Street unimpressed

Apple unveiled its new Apple Intelligence technology, integrating AI across its apps and including OpenAI's chatbot ChatGPT. The company aims to prioritize privacy and differentiate itself from competitors like Microsoft and Google. However, the event received a lukewarm response from Wall Street, with Apple's stock closing down nearly 2%. Analysts believe that while the AI features will please users, they may not significantly impact Apple's trajectory. The company hopes to convince its large user base of the value of AI. The revamped Siri will have more control and utilize ChatGPT, but concerns about privacy have been raised. Apple plans to use a combination of on-device processing and cloud computing to power its AI features. The new iOS 18 will introduce customizable home screens and improved app locking features. Finally, Apple is expanding the availability of its mixed-reality headset Vision Pro to more countries.

Nvidia closes with $2 trillion valuation as Dell stokes AI rally

Economic Times

Economic Times · 1y ago

Nvidia closes with $2 trillion valuation as Dell stokes AI rally

Nvidia achieved a milestone as its stock market value closed above $2 trillion for the first time on Friday. The surge was fueled by an optimistic forecast from Dell Technologies, which uses Nvidia's processors in its high-end servers. Dell's positive outlook, indicating a surge in orders for its AI-optimized servers, caused its shares to jump by 32% and Nvidia's stock to rise by 4%. This elevated Nvidia to become the third most valuable company on Wall Street, behind Microsoft and Apple. Other chipmakers, including Super Micro Computer, Broadcom, Marvell Technology, and Advanced Micro Devices, also experienced record-high rallies.

Wall Street analysts bullish on Circle after blockbuster IPO, but warn on sky-high valuation - The Economic Times

Economic Times

Economic Times · 17d ago

Wall Street analysts bullish on Circle after blockbuster IPO, but warn on sky-high valuation - The Economic Times

Wall Street analysts are optimistic about Circle Internet Group after its successful IPO, despite concerns over its high valuation post a 161% share surge. Circle, a prominent blockchain infrastructure player known for USD Coin (USDC), saw its shares debut at $69, exceeding its $31 IPO pricing. Analysts like Barclays affirm Circle's digital dollar network's market leadership, while J.P. Morgan cautions about potential risks, initiating an 'underweight' rating with an $80 price target.

Nvidia's optimistic forecast fails to convince Wall Street

Economic Times

Economic Times · 4m ago

Nvidia's optimistic forecast fails to convince Wall Street

Nvidia’s quarterly forecast led to an 8% stock decline as Wall Street remained skeptical. Despite a better-than-expected revenue forecast and strong demand for its Blackwell chips, Nvidia's growth is slowing, with a projected 65% revenue increase far from previous triple-digit growth. Investor concerns over AI spending and rivals' cost-effective models have impacted Nvidia’s valuation, which saw significant declines. Analysts remain cautiously optimistic, yet uncertainty persists regarding sustained AI-driven revenue growth.

Micron needs a new memory boost

Livemint

Livemint · 9m ago

Micron needs a new memory boost

Micron Technology's stock price has recently plummeted by 41%, far exceeding the decline experienced by other chip stocks. The drop can be attributed to concerns about inventory build-up and weaker sales in the PC and smartphone markets. Although Micron's fiscal Q4 report is expected to show strong revenue growth, analysts anticipate a slowdown in DRAM pricing in the coming quarters. Despite this, Wall Street remains optimistic about Micron's future, with the majority of analysts rating the stock as a buy. The company projects that the weakened DRAM pricing trend will reverse within 3-6 months.

Adobe's dull forecast raises AI monetisation doubts, shares fall

Economic Times

Economic Times · 4m ago

Adobe's dull forecast raises AI monetisation doubts, shares fall

Adobe's second-quarter revenue forecast aligns with Wall Street expectations, but lingering doubts about AI monetization have led to a share drop of over 4%. The company reported first-quarter revenues of $5.71 billion, surpassing forecasts. Even as Adobe integrates AI into its products to outpace competitors, concerns persist over the speed of AI monetization, despite assurances of future revenue growth. Analysts expect eventual excitement over new AI-driven products to outweigh current investor concerns.

Dimon Sells $150 Million of JPMorgan Shares in First Sale

Livemint

Livemint · 1y ago

Dimon Sells $150 Million of JPMorgan Shares in First Sale

JPMorgan CEO, Jamie Dimon, and his family have sold $150 million worth of the bank's stock, in line with his announcement last year that he would sell shares for the first time since becoming CEO. The sales were made in a series of transactions, totaling around 822,000 shares. Despite the sales, Dimon intends to maintain a significant stake in the company, which currently stands at about 7.7 million shares. JPMorgan's stock has performed well under Dimon's leadership, recently reaching a record high. Wall Street analysts remain bullish on the company's prospects.

Nvidia market cap threatens Alphabet after overtaking Amazon

Economic Times

Economic Times · 1y ago

Nvidia market cap threatens Alphabet after overtaking Amazon

Nvidia's market capitalization surpassed Amazon's for the first time in 20 years, positioning the dominant AI chipmaker to potentially overtake Alphabet as the third most valuable company on Wall Street. With a market value of $1.78 trillion, Nvidia's growth is fueled by the increasing demand for AI integration in products and services. While its stock slipped 0.17%, Nvidia's lead in the high-end AI chip market, controlling 80% of it, has boosted its stock by 46% this year.

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