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Software stocks have been slammed this year after a long period of strong performance. Meanwhile, hardware stocks are reaping the benefits of the AI boom as their profits soar. AdvertisementYear-to-date, hardware tech stocks are outperforming software tech stocks by a whopping 30 percentage points. AdvertisementThis dynamic means that hardware stocks will continue to outperform software stocks through 2025, according to Mortonson. "The moats that some of the software companies, not all but some, have around their businesses are not going to be quite as high.
Persons: Ted Mortonson, , Baird, Mortonson, It's, Larry Tentarelli, Chip, Steve Eisman, Eisman Organizations: Service, Software, NYSE Arca, Dow Jones US Software, Nvidia, AMD, Micro Computer, Broadcom, Dell, Chip Daily, CNBC Locations: Salesforce, Snowflake
AdvertisementFlood of supportIt was obviously disappointing and really shocking — I'd been excited about the Coinbase job. AdvertisementAlthough I had another offer on the table, I accepted the Amazon job. It felt like a safer choice because it was a Big Tech company — and I already knew the team. I was interested in entrepreneurship after having experienced big tech and trying out these jobs inspired me to start building my own venture. My immediate reaction for several months was disillusion with the with Big Tech, but now I feel positive about my experiences.
Persons: , Matan Gans, cryptocurrency, they'd, Slack, I'd, I've Organizations: Service, Brown University, Google, Business, Amazon Web Services, Big Tech, LinkedIn, Amazon Locations: Coinbase, Boston, California, Seattle, East, West Coast, Providence , Rhode Island, East Coast ., Amazon
Hybrid work boosts job satisfaction, a study published in Nature found. Hybrid work also fosters employee well-being and benefits businesses like cafes and gyms. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne of the greatest debates of the post-pandemic age is whether hybrid work is the best — or worst — of both worlds. Advocates of hybrid work say it helps them achieve a better work-life balance and is more engaging.
Persons: Organizations: Service, Employers, Business Locations: Nature
I'm not really a Jimmy Buffett fan, but Margaritaville Cancún is my favorite all-inclusive resort. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementI've never really been a fan of Jimmy Buffett's music, and the late musician's Margaritaville hotels and restaurants have always struck me as a little cheesy. This story is available exclusively to Business Insider subscribers.
Persons: I'm, Jimmy Buffett, , I've, Jimmy Buffett's Organizations: Service, Marriott, Business Locations: taco, Carretera Tulum, Hyatt
Investors are currently reveling in the 'better', as an ongoing eight-month melt-up once again pushed the S&P 500 to fresh highs this week. But sooner or later, the 'worse' will come, warns David Rosenberg, the founder of Rosenberg Research, who famously called the 2008 recession while working as Merrill Lynch's chief economist. AdvertisementAnother sign the market is out over its skis is the performance divergence between the market cap-weight and the equal-weighted S&P 500 indexes. On June 12, the Dow underperformed the S&P 500 by 0.94%, one of only 71 trading days since 1982 where that's happened, according to Rosenberg's technical analysis consultant, Walter Murphy. AdvertisementIn addition to concerning market technicals, fundamentals could also be in a troubling place in the form of labor market weakness, Rosenberg said.
Persons: , David Rosenberg, Merrill Lynch's, Rosenberg, Bob Farrell, Walter Murphy, Murphy, — Rosenberg, it's, Louis Fed, Piper Sandler Organizations: Service, Rosenberg Research, Business, Tech, Dow Jones, Dow, Nvidia, Microsoft, Apple, Federal Locations: lockstep
Pope Francis warned world leaders that AI could "condemn humanity to a future without hope." The Holy See spoke about the dangers of AI at the G7 Summit in Italy on Friday. Francis urged politicians to make sure humans remain in control of AI, not the other way around. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .
Persons: Pope Francis, Francis, Organizations: Service, Business Locations: Italy
Ukraine used a Patriot missile to down a prized Russian A-50 spy plane earlier this year. The hi-tech A-50 is crucial for Russia's early warning, command, and control during air operations. A senior US officer called the destruction of the A-50 a 'SAMbush.' download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA senior US Army officer has confirmed that Ukraine used a Patriot missile system to down a Russian A-50 spy plane back in January.
Persons: , Rosanna Clemente Organizations: Service, US Army, Patriot, 10th Army Air and Missile Defense Command, Business Locations: Ukraine, Russian
Joe Alwyn spoke about his relationship with Taylor Swift to The Sunday Times. Swift and Alwyn dated for six years before breaking up in 2023. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJoe Alwyn, speaking openly about his breakup with Taylor Swift for the first time, urged fans to have some empathy. Alwyn, 33, and Swift, 34, dated for six years before their split in April 2023.
Persons: Joe Alwyn, Taylor Swift, Alwyn, Swift, , Swifties Organizations: Sunday Times, Service, Department Locations: London
Morgan Stanley analysts named a slate of stocks this week they think are too attractive to ignore. CNBC Pro combed through Morgan Stanley research to find stocks that are primed for growth this summer. They include Apple, Toast, Broadcom, Arista Networks and Coca-Cola. Toast "Toast demonstrated its Vertical technology leadership, detailing its ability to efficiently gain share and monetize against an expanding opportunity. … New geographies, new verticals, new products, and increasing monetization across software and FinTech, underscore the compelling growth opportunity for Toast in the years ahead.
Persons: Morgan Stanley, Joseph Moore, Moore, Josh Baer, Baer, Meta Marshall, Marshall, … Arista, Organizations: CNBC, Apple, Broadcom, Arista Networks, VMware, Breed, Arista Networks Arista, Arista
President Biden was eager to get off the stage at the Group of 7 summit Thursday night, clearly a bit testy after answering questions about Hunter Biden’s conviction and the prospects of a cease-fire in Gaza. But at the end of his news conference with President Volodymyr Zelensky of Ukraine, he couldn’t seem to help jumping in as the Ukrainian leader spoke delicately about China’s tightening relationship with Russia. He leaned into his microphone as soon as Mr. Zelensky was finished. “By the way, China is not supplying weapons” for the war in Ukraine, Mr. Biden said, “but the ability to produce those weapons and the technology available to do it.”“So, it is, in fact, helping Russia,” he said. Throughout the Group of 7 summit meeting in Puglia, China has been the lurking presence: as the savior of “Russia’s war machine,” in the words of the summit’s final communiqué; as an intensifying threat in the South China Sea; and as a wayward economic actor, dumping electric cars in Western markets and threatening to withhold critical minerals needed by high-tech industries.
Persons: Biden, Hunter Biden’s, Volodymyr Zelensky, Zelensky, , Organizations: Group, Locations: Gaza, Ukraine, Russia, China, Puglia, South China
Summer internships at top-tier companies are more competitive than ever this year. Applications per internship jumped to 93, up from 53 last year, according to Handshake, a jobs site. Students who landed a summer role say their top tip is to apply early and network. AdvertisementLanding a summer internship at a top-tier company isn't easy, but this year, the competition is steeper than ever. The number of internships offered on Handshake, a job and internship platform used by millions of college students, fell by 7% this year.
Persons: Organizations: Service, Business
AdvertisementGoogle notes that "Generative AI is experimental" in AI Overviews. Google is far from the only company figuring out the risks of generative AI products. Microsoft also said on Thursday that it would hold off on launching an AI tool intended to be available when its CoPilot PCs ship after privacy concerns arose. The alternative is to be more gradual about releasing features and not place them at the center if they're not fully ready, he said. But while generative AI isn't fully bulletproof at the moment, it's important to balance timing with innovation and accuracy, Yamin said.
Persons: , Liz Reid, Reid, they're, Gaingels Lorenzo Thione, Thione, Tim Cook, Copyleaks Alon Yamin, Yamin Organizations: Service, Big Tech, Google, Business, CNBC, Apple Intelligence, Microsoft
Phishing scams targeting weight loss drugs like Ozempic rose 183% from January to April. Social media sites like Facebook are hotspots for these scams, McAfee says. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The trendy weight loss drug Ozempic, which can cost $1,000 a month, is an opportunity apparently too good for them to pass up. New research released by McAfee, a computer and cybersecurity company, says that phishing scams targeting consumers interested in weight loss drugs like Ozempic, Wegovy, and Semaglutide rose 183% from January to April compared to the previous three months.
Persons: McAfee, Organizations: Service, McAfee, Business
Meta said it won't launch its AI assistant in Europe following pushback from regulators. Regulators raised privacy concerns about Meta's plan to scrape user data to train its AI. But Meta says that data is essential to offer a useful product. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Meta announced Friday it won't release its AI features in Europe because the EU's stringent privacy regulations would make it a "second-rate experience."
Persons: Meta, Organizations: Service, Meta, Irish, Facebook Locations: Europe
Ukraine targeted an airbase in Russia's Rostov region with at least 70 drones, an official said. Kyrylo Budanov, the head of the Defence Intelligence of Ukraine, confirmed the attack to The War Zone. The operation targeted Su-34 bombers used by Russia to drop glide bombs on Ukraine. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The mass attack was launched at Morozovsk airbase in Russia's Rostov region, almost 200 miles from the Ukrainian border.
Persons: Kyrylo Budanov, Su, Organizations: Defence Intelligence, Service, Defense Intelligence, Business Locations: Ukraine, Russia's Rostov, Russia, Ukrainian
An early bet on artificial intelligence thanks to a simple investment framework is helping the T. Rowe Price's Global Technology Fund (PRGTX) outperform the market for a second straight year. "Our framework led us to be early to this AI trend, [and] led us to be early to the chip intensity of this AI trend." That's due in part to its winning bets in AI names and semiconductor stocks – many of which have outperformed the S & P 500 and Nasdaq Composite . Early bets on AI Key to the $4.5 billion fund's recent success has been early positions in AI stocks and chipmaking darling Nvidia . The AI leader — added to the fund at the end of 2021 — today accounts for nearly 18% of the portfolio.
Persons: Rowe, Dominic Rizzo, Rizzo, Rowe Price lifer, , Rizzo's, Siri, Morningstar Organizations: Global Technology Fund, Nasdaq, Nvidia, Taiwan Semiconductor Manufacturing, Devices, ASML, Apple, Microsoft, University of Chicago Booth School, Business, Worldwide Developers, Apple Intelligence, SAP
OpenAI appointed former NSA Director Paul Nakasone to its board of directors. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It just appointed a former NSA director to its board. In its latest eyebrow-raising move, the company said Friday it had appointed former NSA Director Paul Nakasone to its board of directors.
Persons: OpenAI, Paul Nakasone, Organizations: NSA, Service, Business
Related storiesAccording to Cappel, their first two trips were filled, and all guests expressed interest in another "phone-free" trip. AdvertisementShe acknowledged that tech-free travel hasn't become completely mainstream, "People are still a little intimidated by the idea." The reasons for going phone-free when traveling varyOne popular motivation is for couples to spend quality time with their partners. Phone-free travel can also help with burnoutLast summer, nonprofit strategist Izzy Doonan did a tech-free week-long trip in the Cascades with her partner and another couple. FTLO provides the trip leaders' phone numbers and full itineraries with contact information to travelers to share with whoever might need it.
Persons: , they're, Hector Hughes, Hughes, Tara Cappel, We're, Cappel, haven't, it's, Elena Mnayarji, Elena, Izzy Doonan, Doonan, wasn't, Mnayarji Organizations: Service, Business, Pew Research Center, Group, Berkeley, Logistics Locations: Thailand, Scottish, Mallorca, FTLO
A Russian tank fell into a crater and was targeted by Ukrainian drones, new footage appeared to show. Ukraine's 68th Jaeger Brigade claims to have destroyed eight Russian tanks in the Donetsk region. The battle was in one of the "most tense" areas along the front line, Ukraine's General Staff said. AdvertisementA new war video from the battlefield in Ukraine appears to show a Russian tank falling into a crater when fleeing Ukrainian fire. The footage, released by Ukraine's 68th Jaeger Brigade, begins by showing drone video of an oncoming column of Russian armor.
Persons: Ukraine's, Organizations: Jaeger Brigade, Ukraine's, Staff, Service, Ukraine's 68th Jaeger Brigade, Business Locations: Ukrainian, Donetsk, Ukraine, Russian
Since then, those technology titans have crushed the rest of the market in earnings growth and returns. By contrast, the other 493 stocks in the S&P 500 saw their earnings fall in 2023. The firm is calling for 17% earnings growth in the fourth quarter, both for stocks in and out of the Magnificent 7. All 11 market sectors will enjoy earnings growth in Q4 for the first time since Q2 of 2021, according to JPMAM's projections. That includes healthcare, energy, and materials, which saw earnings decline earlier this year.
Persons: Tesla, Stocks, Santos, JPMAM Organizations: Asset Management, Apple, Meta, Microsoft, Nvidia
Robert Downey Jr. and Anthony Michael Hall are developing a TV series called "Singularity." Hall told Business Insider that Downey Jr. plans to direct the pilot episode, which would mark the Oscar-winner's directorial debut. AdvertisementAnthony Michael Hall and Robert Downey Jr.'s friendship goes back to the mid-1980s when the two met on the set of the John Hughes classic "Weird Science" and soon after were cast members on "Saturday Night Live." Though their career trajectories diverged — Hall went from '80s teen idol to character actor, Downey Jr. from unknown to "Iron Man" — the two have remained close friends. In fact, Hall is the godfather of Downey Jr.'s son.
Persons: Robert Downey Jr, Anthony Michael Hall, Downey, Hall, , John Hughes Organizations: Hall, Business, Service
Fermented foods are rich in probiotics and can increase gut microbiome diversity. Mass-produced, processed, fermented foods may not be as beneficial. AdvertisementStudies have shown that fermented foods, like sauerkraut and kimchi, are good for gut health. Made when live bacteria or yeast are added to ingredients like tea, milk, or vegetables, fermented foods contain probiotics, which are the "good" bacteria in our guts. Fermented food can increase the diversity of the gut microbiome, the trillions of microbes that live in the colon lining.
Persons: Organizations: Service, Business
Delayed purchases can lead to a "deflationary spiral" for the automotive industry. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . High interest rates remain a big deterrent for many car shoppers, and price volatility has some car shoppers delaying their purchases in hopes they can get an even better deal in a month or two. That's creating a big problem for the automotive industry, according to one economist. This story is available exclusively to Business Insider subscribers.
Persons: , It's Organizations: Service, Business
If you're trying to get work done while the kids are home this summer, keeping them entertained is a way to stay productive and somewhat sane. Related storiesThinking of new activities all the time can be draining, but I'm here to tell you you don't have to be a crafty or artistic parent to keep your kids engaged and entertained this summer. Toddlers and preteens alike love making peelable nail polish or homemade window clings. Construction paper and painter's tape can make tunnels for toy cars that will keep kids entertained for ages. AdvertisementThe author says making slime is a great way to keep kids entertained.
Persons: , Kate Bast, there's, I've, Mellow, Carol Yepes, you'll, they'll Organizations: Service, Business
Mark Zuckerberg isn't style icon by any means, but he's working on it. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . All eyes were on him even in his early 20s, and the public quickly noted his laid-back style that consisted mostly of gray t-shirts. This story is available exclusively to Business Insider subscribers.
Persons: Mark Zuckerberg, , Zuckerberg — who's, Forbes Organizations: Service, Meta, Business
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