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☆ Apple Intelligence will mark a 'renaissance of growth' for the company, says Wedbush's Dan Ives
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple Intelligence will mark a 'renaissance of growth' for the company, says Wedbush's Dan IvesDan Ives, Wedbush Securities managing director, joins ‘Squawk on the Street' to discuss Apple's iPhone 16 sales, how the company's AI push will impact its stock, and more.

Persons: Wedbush's Dan Ives Dan Ives, Squawk Organizations: Apple Intelligence, Wedbush Securities

☆ Apple Intelligence will drive sales for iPhone 16. Just wait for it, analyst says.
▼ + stars: | 2024-09-23 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewApple Intelligence didn't come with the latest iPhone 16 drop on September 20, but that won't matter — analysts are confident that it'll still boost iPhone 16 sales throughout the next 12 months as Apple releases the AI-powered features in multiple software updates. "Apple Intelligence is still the big driver," Gil Luria, an Apple analyst for D.A. The analyst compared Apple Intelligence's sales boost potential to the excitement around 5G coverage for iPhone 12 about four years ago. According to the analyst, the difference now is that Apple Intelligence won't come out of the box. Luria, the Apple analyst, told BI that Apple Intelligence won't be a popular feature until people can start using it, comparing it to AI's dominance after ChatGPT was released to the public in 2022.

Persons: —, Gil Luria, Davidson, Chi Kuo, Luria, Dan Ives, Ives, Ron Witt, " Luria, ChatGPT Organizations: Service, Apple, Apple Intelligence, D.A, Business, BofA Global Research, BI, 5G, Wedbush Securities Locations: Cupertino, San Francisco and New York, San Francisco

☆ These stocks should benefit the most as the Fed keeps lowering rates, analysts say
▼ + stars: | 2024-09-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

These companies are expected to benefit from lower interest rates over the long haul, according to analysts. They include Western Alliance , Best Buy, Coca-Cola, Zillow , UPS and FedEx. The analyst said he sees Best Buy as a key beneficiary of lower interest rates in several ways. He noted that Best Buy continues to be a worthy competitor to e-commerce juggernaut Amazon, pointing to a recent pricing study the firm conducted. Meanwhile, Best Buy shares remain undervalued compared to those of its peers in the sector, Chukumba added.

Persons: Zillow, Jay McCanless, McCanless, Wells, Chris Carey, Carey, Coke bottlers, Morgan Stanley, Anthony Chukumba, Chukumba, FedEx — Goldman Sachs, — D.A, Davidson Organizations: Federal, CNBC, Western Alliance, UPS, FedEx, Software, —

☆ Apple's showdown with its Chinese rival Huawei is here as both companies launch new smartphones on the same day
▼ + stars: | 2024-09-20 | by ( Katie Balevic | ) www.businessinsider.com time to read: +7 min

Hours after Apple unveiled its iPhone 16 models earlier this month, Huawei announced the Mate XT would drop on the same day. Huawei's Mate XT trifold smartphone secured millions of preorders. John Ricky/Anadolu via GettyThe disparity could be partly due to how Huawei distributed the first batch of Mate XT sales. Apple's iPhone 16 line starts at $800. The iPhone 16 offers a new "camera control" button and brings the "action" button previously found only on the iPhone 15 Pro models to the entry-level iPhone 16 as well.

Persons: —, preorders, John Ricky, Vivo Organizations: Service, Apple, Huawei, Business, Anadolu, Getty, CNBC, Reuters, Apple Intelligence, Publishing, Samsung, Bloomberg, Research, Wall, Counterpoint Research, Wedbush Securities Locations: China, Beijing, Hefei, Shenzhen, Guangzhou

☆ Wedbush's McCanless on targets for the housing sector in 2025
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWedbush's McCanless on targets for the housing sector in 2025Jay McCanless, Wedbush SVP of equity research, joins 'Closing Bell' to discuss where industry-wide homebuilding volume will go from here, homebuilder stock performance, and much more.

Persons: Jay McCanless Locations: Wedbush

☆ 'This party is going to continue': Nvidia and a $1 trillion AI boom will boost tech stocks, Dan Ives says
▼ + stars: | 2024-09-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Worries about whether artificial intelligence investments will pay off may have rocked markets recently, but Wedbush Securities tech analyst Dan Ives says the tech boom is set to continue. Nvidia shares in particular were hit in recent weeks , before rebounding last week and lifting other tech names as well. Nvidia is set to continue driving tech higher, Ives told CNBC's " Street Signs Asia " on Monday. "Everything we're seeing from … Nvidia … this party is going to continue … for the next six to eight quarters, because we're actually seeing demand accelerating," he said. Ives estimated that AI capital expenditure is set to reach around $1 trillion.

Persons: Dan Ives, Ives, CNBC's, we're Organizations: Wedbush Securities, Nvidia, Microsoft Locations: U.S

☆ The Fed has poured rocket fuel on the red-hot AI trade
▼ + stars: | 2024-09-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

AI stocks surged after the Federal Reserve's 50 basis point rate cut. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The tech-heavy Nasdaq 100 soared nearly 3% on Thursday, while the underlying AI trade saw even bigger gains. Investors in the stock market's AI trade can thank Fed chairman Jerome Powell for Thursday's risk-on surge in tech, according to Wedbush analyst Dan Ives. AdvertisementIves said that while the AI trade has mainly been focused on Nvidia and Microsoft, other companies are starting to join in on the fun.

Persons: Dan Ives, —, Jerome Powell, Ives Organizations: Federal, Nasdaq, Nvidia, Broadcom, Service, Federal Reserve, Investors, Big Tech, Microsoft, Oracle, Dell, IBM, APple Locations: Asia

☆ Stock market today: Indexes close at record highs and tech soars after Fed rate cut
▼ + stars: | 2024-09-19 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes rallied to record highs as investors cheered Wednesday's rate cut from the Fed. Jobless claims reinforced the Fed's message of a strong labor market, with last weeks's claims down 12,000. AdvertisementMajor stock indexes surged to record highs on Thursday, a day after a jumbo rate cut from the Federal Reserve. On Wednesday, the Fed cut interest rates for the first time in four years, slashing its benchmark rate by 50 basis points. The Fed's dot plot shows the central bank will likely cut another 50 basis points this year and 100 basis points next year.

Persons: —, Dan Ives, Ives, Jerome Powell, Powell, Richard Bernstein Organizations: Fed . Tech, Nvidia, Meta, Service, Federal Reserve, Dow Jones Industrial, Nasdaq, Broadcom, ASML, Labor Department, Treasury, Fed, Trump Media Locations: Here's

☆ Elon Musk is on track to become the world’s first trillionaire very soon
▼ + stars: | 2024-09-17 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Elon Musk’s sprawling empire — spanning everything from electric vehicles and social media to space rockets and miniature brain implants — may soon make him the world’s first trillionaire. Now, Musk could become the world’s first trillionaire, a milestone that Informa Connect Academy says he’s on track to hit by 2027. The EV maker founded by Musk has become the world’s most valuable auto company, with a price tag of about $710billion. Musk owns another 303 million stock options linked to his epic and controversial compensation package, which was struck down by a judge but then revived and approved by shareholders. As Bloomberg notes, Musk owns about 42% of SpaceX, a private company valued in June at a whopping $210 billion.

Persons: New York CNN —, Informa, Jensen Huang, Huang, Gautam Adani, Musk, Tesla, ” Dan Ives, “ Musk, ” Ives, Donald Trump, Joe Biden, Biden, Kamala 🤔, ” Organizations: New, New York CNN, New York CNN — Elon, Informa Connect, Nvidia, Bloomberg, Cola, Bank of America, Boeing, Wedbush Securities, CNN Locations: New York, China, usk, wns

☆ Stock market today: Indexes trade mixed as investors look forward to major Fed decision
▼ + stars: | 2024-09-16 | by ( Max Adams | ) www.businessinsider.com time to read: +3 min

US stocks were mixed on Monday ahead of the Fed's expected rate cut later in the week. Fed fund futures show markets see odds of a 50 basis point cut as more likely than a 25 basis point move. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks were mixed on Monday ahead of a major Federal Reserve meeting that's expected to deliver the first interest rate cut in four years. Treasury yields dipped, with the 10-year bond down about one basis point to 3.64%.

Persons: —, it's, Dan Ives, Powell, Ives Organizations: Treasury, Service, Reserve, Nasdaq, Dow Jones, Fed, Wedbush Securities, Nvidia, Broadcom, Oracle, Here's

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Apple, Oracle, Carvana, Micron, Sprouts, Zillow, Coca-Cola & more
▼ + stars: | 2024-09-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Monday: Evercore ISI reiterates Alphabet as outperform Evercore says it's sticking with shares of the search giant. Morgan Stanley reiterates Micron as equal weight Morgan Stanley lowered its price target on the stock to $100 per share from $140. Morgan Stanley reiterates Tesla overweight Morgan Stanley says it's sticking with its overweight rating heading into Tesla's robotaxi day on Oct. 10. Morgan Stanley upgrades Ase Technology to overweight from equal weight Morgan Stanley said in its upgrade of Ase that the chipmaker's stock is defensive. Morgan Stanley upgrades Chart Industries to overweight from equal weight Morgan Stanley says the gas liquefication company has "significant exposure to both energy transition and renewables as well as traditional energy."

Persons: Evercore, Morgan Stanley, Tesla, Simon, Eaton, Wells, Pro Max, Carvana Evercore, Jack Sinclair, Curtis Valentine, Merchant Scott Neal, BTIG, Truist, Melius Organizations: DOJ, Micron, Technology, Industries, Citi, downgrades Colgate, Palmolive, CL, Barclays, GE, GE Vernova, JPMorgan, Apple, Pro, Ally, Mizuho, Oracle, " Bank of America, Nvidia, Bank of America Locations: Tesla's, Staples

☆ Stocks making the biggest moves midday: Nuvalent, Alcoa, Sprouts Farmers Market, Apple and more
▼ + stars: | 2024-09-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Upstart Holdings – Shares of the personal finance firm fell 5% after the announcement of a new debt offering. Sprouts Farmers Market – Shares of the supermarket chain rose nearly 5% following an upgrade to outperform from in line at Evercore ISI. The investment firm wrote that Sprouts, which specializes in organic products, could be a beneficiary of a trend towards healthier eating. Apple – Shares slumped 3% following reports of sluggish demand for some of the company's latest iPhone models. Yelp – Shares dropped 4% after Bank of America initiated coverage of Yelp with an underperform rating.

Persons: Nuvalent, Bausch, Goldman Sachs, Morgan Stanley, Donald Trump, Ming, Chi Kuo, —, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Jesse Pound Organizations: Financial Times, FT, Alcoa, Intel –, Bloomberg, Intel, Pentagon, Micron Technology, Evercore ISI, Trump Media & Technology, Apple –, TF Securities, Apple, JPMorgan, Bank of America Locations: California

☆ Stocks making the biggest moves before the bell: Apple, Intel, Alcoa, Micron Technology and more
▼ + stars: | 2024-09-16 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Apple — The technology stock fell more than 2% following analyst reports that early shipping data may signal softer demand for iPhone 16 Pro models. Intel — The semiconductor stock rose 1.3% before on the bell. Micron Technology — The semiconductor stock slid 2.8% after Morgan Stanley cut its price target by a whopping $40 to $100. ASE Technology — The semiconductor packager added 1.7% on the heels of a Morgan Stanley upgrade to overweight from equal weight. Zillow — The real estate stock rose more than 2% after an upgrade to outperform from neutral from Wedbush.

Persons: Donald Trump, Bausch, Morgan Stanley, Morgan Stanley's, Wells, Ally, downgrades, Zillow, —, Jesse Pound, Sarah Min, Sean Conlon, Samantha Subin Organizations: Trump Media & Technology, Republican, Holdings, Apple, Financial Times, Alcoa, Intel, Bloomberg, Micron Technology, Technology, Colgate, Palmolive, Bank of America, Zillow Locations: California, Wells Fargo

☆ A debate with bad blood
▼ + stars: | 2024-09-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

When discussing immigration, Harris took a shot at Trump's rallies, saying that people leave them early " out of exhaustion and boredom ." Trump responded with his own attack about Harris' rallies, but his demeanor also took a noticeable turn for the remainder of the debate. And while the two candidates basically don't agree on anything, Harris took one page out of Trump's book. The vice president had some noticeable facial expressions during the debate , something the former president has been known for. The Harris campaign said following the debate the vice president would participate in another one in October .

Persons: —, we're, Saul Loeb, Kevin Dietsch, Kamala Harris, Donald Trump, Harris, Trump, Jon Stewart, Insider's Brent D, Griffiths, David Muir, Linsey Davis, Roe, Wade, Elon Musk, Taylor Swift, Walz, Alex Brandon, Rebecca Zisser, Jamie Dimon's, Goldman Sachs, greenlights, Dan Ives, Ives, Brooks Kraft, Apple, Millennials, TikTok doesn't, Antony Blinken, Volodymyr Zelenskyy, Megan Thee, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Trump, White, JPMorgan, Apple, Brooks, Brooks Kraft LLC, Getty, YouTube, EV, UK Foreign, MTV, MTV . Locations: —, Ukraine, New York, London

☆ Jim Cramer says GameStop feels like a 'massively overvalued' SPAC
▼ + stars: | 2024-09-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Wednesday told investors that GameStop increasingly feels like a special purpose acquisition company as the videogame retailer's primary business struggles, but it still manages to raise cash. "Doesn't have to be a full plan, could be the mere idea of a plan, but so far, GameStop doesn't even have that — or if they do, they sure haven't shared it with us." The company managed to turn a profit due to interest on the $4.2 billion it has in cash, not underlying business. He agreed with an analyst from Wedbush who suggested the company close its physical stores and operate as a bank. "Ultimately, GameStop's always vulnerable to a short squeeze because, based on whatever nonsense the memesters can temporarily cook up," Cramer said.

Persons: CNBC's Jim Cramer, haven't, Wednesday's, Cramer, it's, Wedbush, he's, GameStop's Organizations: Wednesday, GameStop

☆ Apple failed to mention one pretty big iPhone concern at its Glowtime event — and that's a problem
▼ + stars: | 2024-09-10 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Analysts have predicted a "golden upgrade cycle" for Apple following the official launch of the iPhone 16, complete with AI capabilities. Still, execs didn't mention the massive market — where its iPhone sales have struggled in 2024 — at the Glowtime event. AdvertisementThe reported partnership with Baidu "will fill in a missing piece of the AI puzzle in the key China market," Wedbush Securities analysts wrote in a Monday note. Apple's Chinese smartphone competitors aren't letting up in their pursuit of dethroning the giant. Related storiesApple may be experiencing a slip in smartphone sales in China, but Huawei saw its sales leap 69.7% in the first three months of 2024.

Persons: —, OpenAI, Max, It's Organizations: Service, Analysts, Apple, Business, Huawei, Street Journal, Apple Intelligence, preorder, Baidu, Wedbush Securities Locations: China, —, Greater China

☆ Apple will hit a $4 trillion market cap in 2025 as the iPhone 16 sparks big upgrade cycle, Wedbush says
▼ + stars: | 2024-09-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Apple's iPhone 16 launch will drive the company to a $4 trillion valuation by 2025, Wedbush said. Pent-up demand and unchanged prices are set to fuel iPhone 16 sales, especially in China, Ives said. AdvertisementApple's upcoming launch of the iPhone 16 will help catapult the company to a $4 trillion valuation in 2025, according to Wedbush Securities. That pent-up demand among iPhone users who need a new phone will ultimately help fuel iPhone 16 unit sales of 240 million in 2025, he predicted. Apple stock is down about 1.5% since it unveiled its iPhone 16 lineup on Monday.

Persons: Wedbush, Dan Ives, Ives, — Organizations: Service, Wedbush Securities, Apple Intelligence, Apple, Baidu Locations: China, Asia

☆ Apple's new iPhone 16 is 'not a significant hardware bump,' says WSJ's Joanna Stern
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple's new iPhone 16 is 'not a significant hardware bump,' says WSJ's Joanna SternDan Ives, Wedbush Securities, managing director, and Joanna Stern, Wall Street Journal personal technology columnist, join CNBC's 'Squawk on the Street' to discuss Apple's latest product unveil, why Dan has raised his price target on Apple, and more.

Persons: Joanna Stern Dan Ives, Joanna Stern, Dan Organizations: Wedbush Securities, Wall Street, Apple

☆ Apple's new iPhone 16 with AI seems ... kind of boring. That could actually be a good thing.
▼ + stars: | 2024-09-09 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Apple spent much of the presentation emphasizing how the iPhone 16 was "built from the ground up to deliver Apple Intelligence." For me, the most interesting features coming to Apple Intelligence are the Writing Tools, AI-generated emojis, and the camera's visual intelligence capabilities. He said the keynote video doesn't do the new iPhone 16 lineup justice. AdvertisementThe tech giant reportedly began briefing its retail employees on all things Apple Intelligence weeks before the iPhone 16 lineup launch. It seems to me that Apple is gearing up to have consumers see its new AI tech for themselves before deciding to upgrade.

Persons: —, Tim Cook, it's, Siri, Gene Munster, Munster Organizations: Service, Apple Intelligence, Apple, Business, Google, Wedbush Securities, Deepwater Asset Management, Munster

☆ Apple is officially about to enter the next stage of its AI era at the Glowtime event
▼ + stars: | 2024-09-09 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewApple is gearing up to announce a new lineup of devices at its Glowtime event Monday. All eyes have been on the tech giant since it unveiled Apple Intelligence at its Worldwide Developers Conference in June. The tech giant is also expected to launch new models of AirPods and the Apple Watch. Advertisement"We believe the excitement over Apple Intelligence can potentially accelerate hardware replacement and enable market share gain for iPhone, iPad, and Mac," Oppenheimer strategists said in a note.

Persons: —, Dan Ives, Greg Joswiak, Gadjo Sevilla, Mark Gurman isn't, Gurman, Midlevel, Oppenheimer Organizations: Service, Apple Intelligence, Worldwide Developers Conference, Business, Wedbush Securities, Apple, Google, Huawei, Bloomberg, Apple Watch Locations: California, China

☆ Why Nvidia and Its Stock Have Developed a Cult-Like Following
▼ + stars: | 2024-09-09 | by ( Emily Stewart | ) www.businessinsider.com time to read: +13 min

I probably do not have to tell you that Nvidia has really blown up over the past few years. "If people were going to be going crazy about a stock, wouldn't it be this one?" Jack, a moderator of a subreddit dedicated to Nvidia's stock, finds some of the memes around Nvidia irksome. He said ChatGPT's capabilities reinforced his belief in his thesis around Nvidia and AI. I'm not a Nvidia true believer, but I'm apparently Nvidia curious.

Persons: Jensen Huang, Angelo Zino, Jim Cramer, Josh Brown, fanboys, Kamala Harris, I'm, Dan Ives, Huang, Daniel Williams, Williams, David, Goliath, Christopher Schwarz, that's, Axios, Felix Salmon, he's, Jack can't, It's, Berkshire Hathaway, Warren Buffett, Buffett, There's, Schwarz, Brown, Ted Mortonson, Baird, They've, cooly, they're, Mortonson, Ives, Elvis, Zack Morris, Taylor Swift, Chappell Roan, Emily Stewart Organizations: Nvidia, Wall Street, Woodstock, CFRA Research, CNBC, Ritholtz Wealth Management, Elon, NFL, Democratic, People, Wedbush Securities, Lebron, Davids, University of California, Paul Merage School of Business, Nvidia irksome, GameStop, GameStop —, Cisco, Department, Justice, ChatGPT, Business Locations: New York City, New York, Jack, Maine, Omaha , Nebraska, —

Both the iPhone 16 and the iPhone 16 Pro will be available for pre-order on Friday and in stores on September 20, Apple announced. They’re also available in two sizes: 6.1 inches for the iPhone 16 and 6.7 inches for iPhone 16 Plus. IPhone 16 ProThe new iPhone 16 Pro. From AppleThe iPhone 16 Pro, Apple’s higher-end iPhone, features even more AI features than the iPhone 16. Price: The new Apple iPhone 16 Pro will cost $999 and the iPhone 16 Pro Max will be $1,199, the company announced Monday.

Persons: Dan Ives, Wedbush, haven’t, Apple, ” Craig Federighi, Siri, Erica, ultramarine, Max, AirPods Organizations: CNN, Apple, Apple Watch, Apple Apple, Apple Intelligence, Pro, US Food and Drug Administration, Apple Watch Apple

☆ When is Apple’s next event and what to expect from the new iPhone 16
▼ + stars: | 2024-09-07 | by ( Clare Duffy | ) edition.cnn.com time to read: +6 min

CNN —Apple excited fans with its vision for its “Apple Intelligence” artificial intelligence system earlier this year. Apple faces immense pressure ahead of the event to prove the new AI features and other iPhone 16 updates are worth shelling out for an upgrade. Subplot or main character, here is everything we’re expecting from the Apple event. The company’s task on Monday will be to show iPhone users what that will look in real life. A major question heading into Monday’s event is how Apple will price the iPhone 16 lineup.

Persons: Ming Yeung, Dan Ives, Wedbush, ” D.A, Davidson, Gil Luria, Siri, ” Luria, “, Tiffany, Tiffany R, you’ll, Luria, Aly Song, ‘, ”, Mark Gurman, CFRA Research’s Angelo Zino, Gurman, Samantha Kelly, Ramishah Maruf Organizations: CNN, Apple, Apple Intelligence, Apple Watch Locations: Milan, Italy, –, Shanghai, China

☆ Apple is losing ground in China. Here's how the iPhone 16 can help.
▼ + stars: | 2024-09-07 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Wang Gang/Getty ImagesIt's worth noting that in its 15-year history with the iPhone in China, Apple has been the dominant force in the smartphone market. Other local smartphone manufacturers, including Honor, Xiaomi, and Vivo, have also seen gains over the past year. The upcoming iPhone 16 will introduce users to Apple Intelligence, its new suite of generative AI features, first introduced at its June Worldwide Developers Conference. Apple is betting on Apple Intelligence to boost iPhone sales. The company is seeking a local partner to bring more advanced chatbot features to Apple Intelligence in China.

Persons: —, Tim Cook, It's, Wang Gang, Apple, Xiaomi, Cook, ChatGPT, Wedbush, Paolo Pescatore Organizations: Service, Apple, Weibo, Business, China Apple, Huawei, Pura, Apple Intelligence Apple, Apple Intelligence, Foresight Locations: China, Shanghai, He'll, Cupertino

☆ Nvidia is suddenly in trouble
▼ + stars: | 2024-09-04 | by ( David Goldman | ) edition.cnn.com time to read: +4 min

CNN —Nvidia, the AI chipmaking titan that was briefly the world’s most valuable company, has suddenly found itself in an unfamiliar position: a major rut. Nvidia (NVDA) had the worst day in the history of the stock market Tuesday, as measured by loss in total market value. To put that shocking decline into context, only 27 companies on the planet are worth as much as Nvidia lost in value Tuesday. That’s why bulls like Wedbush’s Dan Ives believe Nvidia’s stock decline presents a buying opportunity. – CNN’s Ramishah Maruf contributed to this reportCorrection: Correction: An earlier version of this story incorrectly described TSMC's relationship with Nvidia.

Persons: Jensen Huang, ”, Biden, Kamala Harris, Donald Trump, Huang, Blackwell, “, ” Huang, Wedbush’s Dan Ives, ” Ives, –, Ramishah Maruf Organizations: CNN, Nvidia, Meta, McDonald’s, Chevron, Pepsi, BlackRock, Microsoft, Intel, US Justice Department, Bloomberg, Department of Justice, Justice Department, US Department of Justice, titans, Apple, Google, Nasdaq

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