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☆ It's 'really the Google web': Microsoft CEO testifies about how hard it is to break into search
▼ + stars: | 2023-10-02 | by ( Lauren Feiner | ) www.cnbc.com time to read: +11 min

Drew Angerer | Getty ImagesWhen it comes to online search, it's Google's web and everyone else is playing in it, according to rival Microsoft. "Everybody talks about the open web, but there is really the Google web," Nadella said from the stand in Washington, D.C., District Court. Perhaps the most famous of those deals is the multibillion-dollar agreement between Google and Apple to make Google search the default on Apple products like the iPhone. He said the integration issues with Google's Search Ads 360 "keeps coming up in escalations" to him. Microsoft has begun integrating ChatGPT into its Bing search results through its partnership with OpenAI and is a leading player in the space, alongside Google.

Persons: Satya Nadella, Nadella, Drew Angerer, Satya Nadella's, Microsoft's Bing, Bing, Bernstein, they've, it's, Connolly's John Schmidtlein, Schmidtlein, there's, Google's, roundtables, he's Organizations: Microsoft, Google, Washington , D.C, Department of Justice, Apple, Apple Microsoft, Windows, Microsoft Windows, Washington Post, Verizon, Bing, AGs, OpenAI, YouTube, CNBC Locations: Washington ,, Washington, Silicon Valley

☆ Eddie Wu: Alibaba's new CEO embraces AI and wants a younger management team
▼ + stars: | 2023-09-12 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Alibaba Group will embrace artificial intelligence (AI) and promote younger people to senior management, its new CEO says, as the e-commerce and cloud giant tackles its most ambitious restructuring in its history. “Times are changing, and so must Alibaba!” Eddie Wu, who stepped into the chief executive role on Sunday, said in a memo to staff seen by CNN. Wu replaced Daniel Zhang to become Alibaba (BABA)’s fourth CEO in its 24-year history. According to a plan announced in March, Alibaba will split into six separate units, including cloud, e-commerce, logistics, media and entertainment. Top tech firms around the globe have been shifting their focus to AI, including Google (GOOG), Amazon (AMZN) and Microsoft (MSFT), especially after ChatGPT took the world by storm late last year.

Persons: Eddie Wu, Wu, Daniel Zhang, ’, “, Alibaba, ChatGPT Organizations: Hong Kong CNN — Alibaba, “, CNN, Google, Microsoft Locations: China, Hong Kong

☆ What to expect when Google faces the DOJ in the first major tech monopoly trial in decades
▼ + stars: | 2023-09-11 | by ( Lauren Feiner | ) www.cnbc.com time to read: +13 min

While the trial marks the tech sector's first major anti-monopoly proceeding in decades, Google is squarely in the middle of its antitrust battles. What the trial is aboutA key focus of the trial will be on two kinds of agreements Google has made with other companies. "The cases have very compatible theories, and the core message from both is that Google's monopoly power has been abused, harming competition and hurting consumers," Weiser said. Walker wrote that the abundance of places where consumers can use online search shows that Google hasn't foreclosed competition. In addition to experts like economists, expect to see Google executives called to the stand, potentially including CEO Sundar Pichai.

Persons: Sundar Pichai, Jonathan Kanter, It's, it's, Google's, Microsoft's Bing, Phil Weiser, Weiser, Elijah McClain, Aaron Ontiveroz, Bing, Global Affairs Kent Walker, Walker, Rebecca Haw Allensworth, Bill Kovacic, Tim Cook, Joe Biden, Anna Moneymaker, Allensworth, conscientiously, What's, Google's Walker, Lee Hepner, Matt Schruers, Bard, OpenAI, Schruers Organizations: US Department of Justice, Getty, Department of Justice, Microsoft, DOJ, Google, of, Apple, Microsoft's, CNBC, Aurora, MediaNews, Denver, Global Affairs, Insider Intelligence, Amazon, Vanderbilt Law School, George Washington University Law School, FTC, White House, Mozilla, American Economic Liberties, Computer & Communications Industry Association Locations: U.S, Europe, Eastern, of Virginia, Colorado, Washington , DC

☆ AI fears overblown? Theoretical physicist calls chatbots ‘glorified tape recorders’
▼ + stars: | 2023-08-13 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

New York CNN —The public’s anxiety over new AI technology is misguided, according to theoretical physicist Michio Kaku. “Mother Nature computes on electrons, electron waves, waves that create molecules. Quantum computing is an emerging technology utilizing the various states of particles like electrons to vastly increase a computer’s processing power. Instead of using computer chips with two states, quantum computers use various states of vibrating waves. We’re powerless to cure these diseases because we have to learn the language of nature, which is the language of molecules and quantum electrons.”

Persons: Michio Kaku, CNN’s Fareed Zakaria, ”, ’, chatbots, ChatGPT, Gabby Jones, ” Kaku, we’re, Kaku Organizations: New, New York CNN, Darktrace Plc, Bloomberg, – IBM, IBM, Microsoft, Google Locations: New York, Brooklyn, British

☆ RBC: These 19 stocks with an early lead in the AI revolution will continue to profit from rising demand in semiconductors, cloud computing, and more
▼ + stars: | 2023-08-10 | by ( Mark Reeth | ) www.businessinsider.com time to read: +3 min

RBC identified the stocks profiting from AI today while positioning themselves for future success. 19 stocks profiting from rising AI demandA number of themes leapt out from earnings reports and calls with management, the RBC analysts wrote. Companies leading the charge in AI investments enjoyed strong second-quarter earnings, thanks in part to those very investments. But AI isn't just bringing money in — companies are also spending more on AI than ever, RBC noted. After poring through earnings announcements from AI-related companies, RBC analysts identified the following 19 stocks that they believe are benefiting most from AI demand right now.

Persons: Jonathan Atkin Organizations: RBC, RBC Capital Markets, Companies, Microsoft, Google, NVIDIA, NVIDIA's, Nvidia, Oracle

☆ Google moves forward with plan to delete inactive accounts
▼ + stars: | 2023-08-07 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

New York CNN —Google is moving ahead with its plan to delete accounts that have been inactive for at least two years. Accounts won’t be deleted until December 1, but Google (GOOG) will start sending warnings to affected users. The first accounts to be cut are those that were created and then never revisited by the user, Google said in May. In 2020, Google said users would have their content wiped from services they’d stopped using, but the accounts themselves would not be deleted. To save your account, all you need to do is log in to sign into your Google account or any Google service at least once every two years and perhaps read an email, watch a video or perform a single search, among other activities.

Persons: it’s, Google, “, they’d Organizations: New, New York CNN, Google, YouTube Locations: New York

☆ The last time US debt was downgraded markets plummeted. Will it happen again?
▼ + stars: | 2023-08-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Fitch Ratings downgraded US long-term debt late on Tuesday from AAA to AA+, citing this spring’s debt ceiling standoff as a major reason. In the midst of the very tense debt ceiling standoff of 2011, Standard and Poor’s downgraded US debt for the first time in history. “My sense is that the Fitch downgrade of the US credit rating is an insignificant development and will not move financial markets or the economy,” said Joseph Brusuelas, chief economist at RSM US. “The majority of our clients’ investments in China are through index funds, and we are one of 16 asset managers currently offering US index funds investing in Chinese companies,” BlackRock said in a statement to CNN. “With all investments in China and markets around the world, BlackRock complies with all applicable US government laws.

Persons: New York CNN — Fitch, Fitch, ”, Joseph Brusuelas, ” Fitch, Larry Summers, Janet Yellen, “, Dow, BlackRock, Larry Fink, Henry Fernandez, MSCI, Mike Gallagher of, Raja Krishnamoorthi, ” BlackRock, ” MSCI Organizations: CNN Business, Bell, New York CNN, AAA, AA, RSM, Federal Reserve, Fitch, Treasury, US, Twitter, Dow Jones, Nasdaq, Tech, Nvidia, Apple, Microsoft, Congressional, Chinese Communist Party of, BlackRock, CNN, People’s Liberation Army, PLA, Republican, “ Locations: New York, America, United States, States, Mike Gallagher of Wisconsin, Illinois, MSCI, China

☆ Premarket stocks: The stock market is dominated by just a handful of companies. The Biden administration is worried
▼ + stars: | 2023-07-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

What’s happening: Two years ago, Lina Khan, 34, became the youngest and perhaps most progressive leader of the FTC’s 100-plus year history. Khan, meanwhile, was unable to successfully block Microsoft from closing its $69 billion purchase of videogame publisher Activision Blizzard last week. The rise of gig workers is changing the face of the US economyFrom CNN’s Samantha DelouyaLazarus Limo usually starts his day at 10 a.m. But workplace experts say the number of gig workers is growing, and and their impact is being felt throughout the economy. But whether the success of both films will translate into a sustained revival of the movie industry remains to be seen.

Persons: New York CNN —, Biden, Lina Khan, haven’t, Khan, Kevin Kiley, Joe Biden, —, Brian Fung, ” Khan, “, ” What’s, She’s, Samantha Delouya Lazarus, ”, that’s, Louis Hyman, ” Read, “ Barbie ”, “ Oppenheimer, Anna Cooban, “ Barbie, Barbie ”, ” Daniel Loria, Disney’s “ Indiana Jones Organizations: CNN Business, Bell, New York CNN, Apple, Microsoft, Nvidia, of America, Big Tech, Federal Trade Commission, FTC, White, Activision Blizzard, Republican, Economic, of New, Yale Law, Amazon, Bloomberg, Tech, Meta, Uber, CNN, DoorDash, of Labor Statistics, Cornell University, “ Society, Insiders, Warner Bros, Universal Studios, Warner Bros ., AMC, Hollywood Locations: New York, California, of New York, Hill , North Carolina, “, United States, Instacart, Disney’s

☆ Here are Thursday's biggest analyst calls: Tesla, Spotify, Netflix, Chevron, Carvana, Coinbase & more
▼ + stars: | 2023-07-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: TD Cowen upgrades Meta to outperform from market perform TD Cowen said it sees further share gains ahead for Meta. TD Cowen reiterates Amazon as outperform TD said it's bullish heading into Amazon earnings later this month. Deutsche Bank reiterates Microsoft as buy Deutsche said the stock is "set up nicely" heading into earnings later this month. " Bank of America reiterates Tesla as neutral Bank of America said it's standing by its neutral rating heading into earnings next week. BMO reiterates Chevron as outperform BMO said in a note on Thursday that it likes the oil and gas giant's capital return.

Persons: Cowen, TD Cowen, it's, Stifel, Coinbase, JPMorgan downgrades, Morgan Stanley, Cboe, Morgan Stanley downgrades SoFi, Tesla, Domino's, Robert Iger, Oppenheimer Organizations: Meta, Energy Fuels, Clean Energy Fuels Corp, Barclays, JPMorgan, Spotify, Deutsche Bank, Microsoft, Deutsche, BMO, Netflix, " Bank of America, of America, Suisse, Credit Suisse, Bank of America, Disney, ESPN, Chevron Locations: China

☆ How AI’s astonishing productivity gains could help curb inflation
▼ + stars: | 2023-07-12 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

Experts say the technology will help address a steep and prolonged slowdown in productivity growth in many Western economies, which has kept businesses’ costs higher than they would otherwise be and made inflation harder to tame. “AI has huge potential to increase productivity,” BlackRock CEO Larry Fink said at the company’s Investor Day last month. Productivity gains in Europe could be similar, albeit slightly smaller, Brynjolfsson told CNN. In some cases, productivity gains could be achieved sooner. That’s because most generative AI tools live on the internet — “the technology we already have on our desks” — making them widely accessible, Brynjolfsson said.

Persons: chatbot, —, Smart, Hannes P Albert, Bill Gates, Larry Fink, Erik Brynjolfsson, ” David McMillan, ” McMillan, Hollie Adams, Neil Shearing, Martin Neil Baily, Anton Korinek, Brynjolfsson, Goldman Sachs, ” Organizations: London CNN, Microsoft, BlackRock, CNN, Stanford University, Organisation for Economic Cooperation, Development, OECD, University of Stirling, Bloomberg, Getty, “, National Statistics, IBM, Capital, Brookings Institute, University of Virginia’s Darden School of Business, America, Productivity, Google, SAP, Goldman Locations: East, Scotland, London, United Kingdom, United States, Europe, Wimbledon

☆ Here are Monday's biggest analyst calls: Meta, Tesla, Disney, Amazon, Boeing, Walmart, Uber & more
▼ + stars: | 2023-06-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Monday's biggest calls on Wall Street: Bank of America upgrades Alliant to buy from neutral Bank of America said shares of the Wisconsin and Iowa energy company are attractive. UBS upgrades Moderna to buy from neutral UBS said the biotech company's pipeline is underappreciated. UBS downgrades Alphabet to neutral from buy UBS said it sees "near-term monetization risk" for the tech giant. Bank of America reiterates Paramount Global as buy Bank of America said the media company is "unique." Loop reiterates Disney as buy Loop said it's standing by its buy rating on the entertainment and parks giant.

Persons: LNT, Goldman Sachs downgrades Tesla, Goldman, Morgan Stanley, TD Cowen, Coinbase, underperform TD Cowen, Wells, Brinker, Williams, Tesla, Bernstein, Uber, Davidson, Roth, Roth MKM, Piper Sandler, Lululemon, Piper, LULU Organizations: Bank of America, of America, UBS, Moderna, Walmart, Amazon Prime, BTC, BMO, Sherwin, Deutsche Bank, Deutsche, Citi, Boeing, WSFS Financial Corporation, Networks, TAM, Meta, Paramount Global, Brunswick Locations: Wisconsin, Iowa, China

☆ UBS downgrades Google-parent Alphabet, cites stiffer competition and generative A.I. headwinds
▼ + stars: | 2023-06-26 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

The bank downgraded the tech giant to neutral from buy, albeit with a higher $132 per share price target compared to the previous $123 forecast. UBS' new price target implies roughly 8% upside for Alphabet stock compared to its $122.34 close on Friday. GOOGL YTD mountain Alphabet stock has added nearly 40% from January. UBS analyst Lloyd Walmsley noted he finds difficulty forecasting more upside for Alphabet, noting revenue headwinds remain in the near-term from new search competition. Walmsley highlighted three risks stemming from generative AI over the medium-term: stiffer competition, pressure to margins and hiccups in monetizing the technology.

Persons: Lloyd Walmsley, Walmsley, GOOG, — CNBC's Michael Bloom Organizations: UBS, Google

☆ 5 stocks that are best-positioned over the next 10 years to capitalize on the AI boom promising to transform the economy, according to Global X's lead AI researcher
▼ + stars: | 2023-06-14 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Tejas Dessai says AI is still in its early stages, and he's taking a long-term investing outlook. Dessai is the lead AI researcher at Global X. The firm's AI ETF is up 38% this year. According to Dessai, the lead AI research analyst at ETF issuer Global X, AI adoption throughout the economy will be a slow process and likely span the next decade. Dessai's research helps inform the holdings in the Global X Artificial Intelligence & Technology ETF (AIQ), which is up 38.6% this year.

Persons: Dessai Organizations: Tejas, Global, Nvidia, Meta, Tejas Dessai, Intelligence, Technology, TrueMark Technology, Learning, Facebook, Google

☆ They said we were getting a recession. Instead, we’re getting a bull market
▼ + stars: | 2023-06-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

A recipe for a bull market, apparently. “The key difference for us is that you tend to see bull markets coincide with economic expansions, not economic contractions.”Still, since the last bull market, we’ve had a pandemic, a war in Europe, a banking crisis and a debt crisis among other dramas. “Such narrowness is not what new bull markets are built on.”The bottom line: Investors should “avoid getting sucked into this as a new bull market,” said Samana. A nationwide UPS strike would be the largest work stoppage in US history, reports my colleague Vanessa Yurkevich. US Bankruptcies reach highest level in 13 yearsChapter 11 filings in the US have reached their highest levels since the end of the Great Recession, according to new data from S&P Global Market Intelligence..

Persons: “ We’re, ” Sameer Samana, we’ve, ”, Kevin Gordon, Charles Schwab, Lisa Shalett, they’ve, Vanessa Yurkevich, We’ve, Fred Zuckerman, pare Organizations: CNN Business, Bell, New York CNN, Federal, Wells, Wells Fargo Investment Institute, CNN, Tech, Nvidia, US, Morgan Stanley Wealth Management, UPS, Teamsters, –, Brotherhood of Teamsters, 1st, “, ”, P Global Market Intelligence, Bed, P, Retail, City Locations: New York, Wells Fargo, Europe, Samana, America

☆ The hype in AI stocks isn't a bubble yet, and little buy in from retail investors means there's room for more upside
▼ + stars: | 2023-05-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The research firm said retail investors have yet to pile into AI stocks and fuel a bubble frenzy like they did during the pandemic. "Interest in 'tech stock' is nowhere near levels reached during the Pandemic Era speculative tech bubble," DataTrek said. "Interest in 'tech stock' is nowhere near levels reached during the Pandemic Era speculative tech bubble," DataTrek Research co-founder Jessica Rabe said. In other words, not enough retail investors have been sucked into these Big Tech stocks yet to indicate a bubble," Rabe said. "On the plus side, there's not enough retail interest to indicate a bubble is forming, and there's a lot more room for retail investors to get involved in these names."

☆ A portfolio manager who runs 3 of the 10 best large-cap funds in the past year shares his surprisingly simple investing strategy — and the 4 places he's putting his money now
▼ + stars: | 2023-05-24 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Leading fund manager Matt Fruhan found success this year by continuing to prioritize valuations. Two of those standout funds, the Fidelity Mega Cap Stock Fund (FGRTX) and the Fidelity Advisor Mega Cap Stock Fund (FGTAX), are virtually identical, except for their class and ticker. The fund manager told Insider that he applies the same investing process and principles across all of his funds. "Some investors are kind of reactive to the market and let the market tell them what to think," Fruhan said. And that's how you get separation from the stock market over time."

☆ The CEO of a $900 million asset manager shares 6 stocks to buy to take advantage of the coming AI revolution — and explains how investors can diversify their holdings to capitalize on emerging tech tr
▼ + stars: | 2023-05-13 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

She also oversees the Defiance Quantum ETF (QTUM), which invests in quantum computing and machine learning companies. "They're clear leaders and no matter what happens, they'll invest in artificial intelligence, data pricing, machine learning, and quantum computing," she explained. "But even if that happens, you're still okay because you have the high-quality tech companies to hedge your basket … We look at it as balance plus opportunity." Besides the Defiance Quantum ETF (QTUM), other options include Global X Robotics & Artificial Intelligence ETF (BOTZ), the ALPS Disruptive Technologies ETF (DTEC), and the iShares Robotics and Artificial Intelligence Multisector ETF (ITRBO). Amazon (AMZN) is another stock that has been propelled higher thanks to its web services and machine learning division.

☆ Here are Friday's biggest analyst calls: Amazon, VF Corp, Deere, Netflix, Rivian, Nvidia & more
▼ + stars: | 2023-04-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on the stock. "Our Buy rating is based on: 1) positive feedback from our proprietary Sleep survey that points to healthy underlying US volumes, 2) lingering pent-up demand due to US staffing shortages." William Blair reiterates Charles Schwab as outperform William Blair said it's standing by its outperform rating on the stock heading into earnings next week. Barclays reiterates Disney as equal weight Barclays said it sees slowing streaming growth heading into Disney earnings in early May. " Stifel reiterates Microsoft as buy Stifel said it's standing by its buy rating on Microsoft heading into earnings later this month.

☆ Amazon is ‘investing heavily’ in the technology behind ChatGPT
▼ + stars: | 2023-04-13 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +4 min

CNN —Amazon wants investors to know it won’t be left behind in the latest Big Tech arms race over artificial intelligence. In a letter to shareholders Thursday, Amazon (AMZN) CEO Andy Jassy said the company is “investing heavily” in large language models (LLMs) and generative AI, the same technology that underpins ChatGPT and other similar AI chatbots. Since ChatGPT was released to the public in late November, Google (GOOG), Facebook (FB) and Microsoft (MSFT) have all talked up their growing focus on generative AI technology, which can create compelling essays, stories and visuals in response to user prompts. With that in mind, Amazon on Thursday unveiled a new service called Bedrock. It essentially makes foundation models (large models that are pre-trained on vast amounts of data) from AI21 Labs, Anthropic, Stability AI and Amazon accessible to clients via an API, Amazon said in a blog post.

☆ Here are Thursday's biggest analyst calls: Netflix, Apple, Amazon, Microsoft, FedEx, Pinterest & more
▼ + stars: | 2023-04-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Raymond James upgrades FedEx to outperform from market perform Raymond James said and "undeniable" positive change is underway at the shipping giant. "We are initiating coverage of XPO, one of the largest less-than-truckload (LTL) carriers, in North America, with an Outperform rating and a $44 target price." "We are initiating coverage of Skyworks Solutions, with a Buy rating and $150 target price. Raymond James upgrades Wells Fargo to strong buy from outperform Raymond James said the banking giant is well positioned in the current environment. Raymond James initiates Pinterest as outperform Raymond James said it sees "steady user growth" for Pinterest.

☆ GM plans to phase out Apple CarPlay in EVs, with Google’s help
▼ + stars: | 2023-04-01 | by ( ) edition.cnn.com time to read: +3 min

Apple CarPlay and Android Auto systems allow users to mirror their smartphone screens in a vehicle’s dashboard display. GM is designing the on-board navigation and infotainment systems for future EVs in partnership with Alphabet’s Google. GM’s Chevrolet brand in the past boasted of offering more models with CarPlay or Android Auto than any other brand. GM plans to continue offering Apple CarPlay and Android Auto mirroring systems in its combustion models. Owners of vehicles equipped with the mirroring technologies will still be able to use the systems, GM said.

☆ Bank turmoil is boosting appetite for specific sector ETFs. Here’s why
▼ + stars: | 2023-03-25 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

It appears specific sector ETFs are gaining popularity as a way to cushion bank-turmoil fallout. According to VettaFi's Todd Rosenbluth, the trend applies to ETFs holding only a few large companies in particular industries. "We're seeing this year that active management and actively managed ETFs in particular have been relatively popular in complement to an existing core strategy." Rosenbluth asserts the narrow focus of big-cap sector ETFs can boost potential gains. Yet, last week on "ETF Edge," Astoria Advisors' John Davi suggested bank upheaval could expose problems lurking in ETFs tied to specific sectors.

☆ Intel co-founder Gordon Moore, author of ‘Moore’s Law’ that helped drive computer revolution, dies at 94
▼ + stars: | 2023-03-24 | by ( ) edition.cnn.com time to read: +5 min

Intel co-founder Gordon Moore, a pioneer in the semiconductor industry whose “Moore’s Law” predicted a steady rise in computing power for decades, died Friday at the age of 94, the company announced. Intel (INTC) and Moore’s family philanthropic foundation said he died surrounded by family at his home in Hawaii. It’s been a phenomenal ride.”In recent years, Intel rivals such as Nvidia (NVDA) have contended that Moore’s Law no longer holds as improvements in chip manufacturing have slowed down. He went to work at the Shockley Semiconductor Laboratory where he met future Intel cofounder Robert Noyce. In 1968, Moore and Noyce left Fairchild to start the memory chip company soon to be named Intel, an abbreviation of Integrated Electronics.

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Wendy's, Microsoft, Coinbase, Netflix & more
▼ + stars: | 2023-03-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Friday's biggest calls on Wall Street: UBS reiterates Tesla as buy UBS said it's recent survey checks show Tesla is "best positioned" to win the EV race. Wells Fargo reiterates Microsoft as a top AI pick Wells said Microsoft is one of the biggest beneficiaries of AI. Jefferies downgrades UBS to hold from buy Jefferies said it sees too much uncertainty after the banking giant's acquisition of Credit Suisse. Jefferies upgrades Regeneron to buy from hold Jefferies said it's bullish on several of the pharmaceutical company's products. Citi reiterates Nvidia as buy Citi said Nvidia is a top beneficiary of AI.

☆ Tech shares were the hot play this week but investors should beware the Fed
▼ + stars: | 2023-03-17 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Big cap tech drew in investors in droves this past week, as the market struggled against volatile interest rates and fears of banking sector contagion. The futures market Thursday was pricing in strong odds of a quarter-point rate hike from the Federal Reserve next week. The big cap tech names are benefiting from a flight-to-quality within the sector, since those stocks have strong cash flow and reliable earnings. The 2-year Treasury yield , for instance, rose above 5% last week but this past week it was well below 4%. Tech and growth names have reacted poorly when rates rise, since investors tend to pay a premium for the promise of future earnings growth.

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