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Futures were mixed as JPMorgan earnings and especially Wells Fargo fell on earnings. Tesla tumbled Thursday and got a sell rating Friday...
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News of the day for July 12, 2024...
Continue ReadingElon Musk's xAI recently ended talks with Oracle (ORCL) for a potential $10 billion server deal to build out its infrastructure. As AI competition from Big Tech names like Alphabet (GOOG, GOOGL) and Microsoft (MSFT) heat up, can Musk's new company keep up or will it eclipse them entirely? Deepwater Asset Management managing partner Doug Clinton joins Asking for a Trend to discuss why he is invested in xAI and believes Musk has an interesting point of view when it comes to advocating for new tech ideas, like artificial intelligence. "I think you have to really have a deep respect for figuring out... the sciences, figuring out physics. And if you think about who in the world has done the most to figure out things, physical problems like we just talked about, it's Tesla, it's SpaceX, and it's Elon. And so I think he's probably in a different and more unique position than some of these other companies, like a Google, like an OpenAI, who are great in the digital space, but they're sort of amateurs in the physical space. I think that's where the real opportunity is for xAI." For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Nicholas Jacobino...
Continue ReadingStock prices anticipate the future. But such wishful thinking is reaching some extreme levels in the S&P 500...
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Many political veterans believe President Biden’s chance at a second term are slim to none amid concerns about his age and handling of the country. But these same political veterans are far from enthralled with another White House stint for former President Donald Trump. The election's results will have major implications for investors and the wealthy names that play in the markets, like Tesla (TSLA) billionaire Elon Musk. Unicorn startups also have a lot of skin in the game come this presidential election. On the latest episode of Opening Bid, Yahoo Finance Executive Editor Brian Sozzi goes in-depth with Tusk Venture Partners Co-Founder & CEO Bradley Tusk, an early investor in Uber (UBER) and the former campaign manager for Michael Bloomberg’s 2009 mayoral race. Sozzi and Tusk discuss the likelihood of another Biden presidency, the outlook for billionaire Elon Musk's wealth if Trump is elected, and whether super hot tech stocks are still a good buy...
Continue ReadingOn Thursday, the stock market got the best possible news, and a most unusual rally followed. Below the surface, it was the sort of performance seen during some of the worst times for traders ever—like the 1987 crash, the 2008 collapse of Lehman Brothers or the bottom of the Covid-19 bear market. Yes, there was talk of a delay of its vaunted “Robotaxi” announcement, but then why did red-hot Nvidia, Arm and a host of other chip stocks also sink?...
Continue ReadingMicrosoft's $1.5 Billion Investment in G42 Stirs Concerns Among US Lawmakers Over China Ties...
Continue ReadingAn investigation by India's antitrust body has found that Apple exploited its dominant position in the market for app stores on its iOS operating system, engaging "in abusive conduct and practices", a confidential report seen by Reuters showed. The Competition Commission of India (CCI) has been investigating Apple Inc since 2021 for possibly abusing its dominant position in the apps market by forcing developers to use its proprietary in-app purchase system. Apple has denied wrongdoing saying it was a small player in India where phones that use Google's Android system are dominant...
Continue ReadingAn upgrade cycle driven by AI applications is creating optimism around the stock...
Continue ReadingContract electronics manufacturer Foxconn is ramping up hiring in the world's biggest iPhone plant in Zhengzhou, capital of central Henan province, as Apple gears up for the launch of its next-generation handset this autumn. The iPhone assembler, also known as Hon Hai Precision Industry, is offering a 25 yuan (US$3.44) hourly rate and a bonus of up to 7,500 yuan for returning workers previously employed by the Zhengzhou factory, according to recruitment posts published by the company this week...
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