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☆ Apple's iPhone China shipments in February look even worse than estimated
▼ + stars: | 2024-03-26 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Apple's iPhone shipments in China have fallen again, government data show. Apple shipped roughly 2.4 million smartphones in February — a 33% drop from 2023, per Bloomberg. AdvertisementThe latest iPhone data out of China imply Apple's still having a tough time in one of its biggest markets. Counterpoint Research, in its report released in early March, estimated that iPhone sales in China had dropped by 24% in the first six weeks of the year. "In essence, Apple needs China, and China needs Apple."

Persons: —, Apple's, That's, it's, Dan Ives, Nicole Peng, Peng, Tim Cook, Ives Organizations: Apple, Bloomberg, Huawei, Service, China Academy of Information, Communications Technology, Counterpoint Research, Wedbush Securities, EU, China, Forum, CCP, Business Locations: China, Shanghai, Beijing

☆ Apple could double down on China market, Wedbush says, as iPhone sales drop
▼ + stars: | 2024-03-26 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

SHANGHAI, CHINA - MARCH 21: Tim Cook, chief executive officer of Apple Inc., arrives for opening ceremony of the new Apple Jing'an store on March 21, 2024 in Shanghai, China. The new Apple store opens on March 21 in Shanghai's Jing'an district. (Photo by VCG/VCG via Getty Images)Apple could double down on the China smartphone market amid declining iPhone sales and stiff competition in the country, Wedbush Securities said on Monday. Apple needs to overcome its China challenges including a tough macro environment and competition from Huawei before the iPhone 16 release and "it all starts with reaffirming Apple's presence in China," Wedbush said. Cook's latest trip to China, which Wedbush said is "a sign Apple could double down" on China, comes amid reports of iPhone sales in China plunging 24% in the first six weeks of 2024.

Persons: Tim Cook, Wedbush, Commerce Wang Wentao, Cook Organizations: Apple Inc, Apple, Getty, Securities, Huawei, China's, Commerce, China Development Forum Locations: SHANGHAI, CHINA, Shanghai, China, Shanghai's Jing'an, Beijing

☆ CNBC Daily Open: Inflation isn't coming down fast enough
▼ + stars: | 2024-03-26 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Indian bonds on global indexesIndian bonds are set to be added to global indexes which could be a gamechanger for the country. Trump Media to start tradingThe company behind former President Donald Trump's social media platform Truth Social, will start trading on Tuesday. Called Trump Media & Technology Group Corp., it will trade on the NASDAQ under the stock ticker symbol DJT.

Persons: Patria Stodghill, vender Susan Mendoza, Donald Trump's, Trump, David Dietze Organizations: Patria, Washington , DC, CNBC, CSI, Federal Reserve, Dow, Nasdaq, Bloomberg, Services, China Apple, Wedbush Securities, Huawei, Apple, Trump Media, Trump Media & Technology Group Corp, NASDAQ, Nvidia, Wealth Management Locations: Washington ,, South Korea, Seng, China

☆ China needs Apple even as it tries to push foreign firms out, economist says
▼ + stars: | 2024-03-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China is unlikely to push Apple out of the country, Shehzad Qazi of China Beige Book told CNBC. "In sectors where they think reliance on American firms — software, hardware, anything talked about — is going to become a national security threat, they want American companies out. "In essence Apple needs China and China needs Apple despite all the noise," he said. "With 90% of the supply chain cemented in China Apple will over time move some manufacturing to India, Vietnam, and other regions. However, the vast majority of its iPhone production and suppliers will remain in China and this trip was Apple essentially doubling down on China."

Persons: Shehzad Qazi, Wedbush's Dan Ives, —, Qazi, disinvestment, Dan Ives, Tim Cook, Ives Organizations: CNBC, Apple, Service, Micron, Intel, AMD, Wedbush Securities, China Development, China Apple Locations: China, Beijing, That's, India, Vietnam, Shanghai

☆ A bunch of analysts just hiked price targets for these 2 stocks, giving them over 65% upside
▼ + stars: | 2024-03-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Eight analysts upgraded their target prices on two Canadian stocks in the past week, giving both more than 65% upside potential. Wedbush Securities analysts Gerald Pascarelli and Antoine Legault hiked their price target for the stock's U.S.-listed shares to $2.50, giving it an upside of 18%. Investment banks Beacon Securities and Alliance Global Partners are significantly more bullish on the stock, giving it upside of 110% and 75%, respectively. VerticleScope reported revenue of $17.9 million, compared to $16.6 million expected by analysts. However, analysts believe the worst is behind it, as all eight covering the stock raised their price targets after the company's earnings.

Persons: Gerald Pascarelli, Antoine Legault, Nick Anderson, MKM Roth, Anderson, Canaccord Genuity, Aravinda Galappatthige Organizations: CNBC, Cresco Labs, Wedbush Securities, Mar, Investment, Beacon Securities, Alliance Global Partners, Capital Markets, National Bank Financial Locations: Mar, U.S

☆ Outperforming fund manager says this software stock is set to be a 'serious player' in a corner of AI, gives it nearly 60% upside
▼ + stars: | 2024-03-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

One stock is a "promising AI investment" and set to be a "serious player" in a corner of the space, according to Brian Stutland of Equity Armor Investments. They are really starting to become very creative in the AI world," Stutland, a portfolio manager at the firm, told CNBC's "Street Signs Asia " last week. Palantir has been scaling its Artificial Intelligence Platform, or AIP, and Karp said the company carried out nearly 600 pilots with the technology last year. Shares of Palantir jumped nearly 10% on March 6 after Palantir announced its Tactical Intelligence Targeting Access Node was selected by the U.S. Army . TITAN uses artificial intelligence to provide targeting information for missiles.

Persons: Brian Stutland, That's Palantir, CNBC's, Alex Karp, Palantir, Karp, Stutland, Morningstar, Dan Ives, Ives, — CNBC's Ashley Capoot, Keris Lahiff Organizations: Equity, Investments, AIP, Intelligence, U.S . Army, Fund, Wedbush, Securities, Global TAM Locations: U.S

☆ Apple is getting serious about AI
▼ + stars: | 2024-03-18 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +4 min

It comes as Apple is expected to unveil several new AI features at its developer conference in June. According to a Bloomberg report, Apple is interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features. A partnership with Google would catapult Apple into the growing AI arms race. Apple, Google and OpenAI did not respond to a request for comment. Behind the scenes, Apple reportedly has been working its on-device generative AI capabilities and acquiring companies, such as Canadian startup DarwinAI.

Persons: they’ve, —, Siri, OpenAI, Tim Cook, we’re, Apple, Angelo Zino, Beata Zawrzel, Wedbush Organizations: CNN, Apple, Google, Bloomberg, Learning Research, CFRA Research, Wedbush Securities, Gemini, Microsoft Locations: Cupertino

☆ Hertz CEO out following electric car ‘horror show’
▼ + stars: | 2024-03-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Trouble and turmoil continue at rental car company Hertz. But the problem for Hertz wasn’t necessarily that the cars were electric, and customers simply do not want to drive electric cars. There might not be a charging station, or enough time, for a rental car customer to charge an EV, Ives said. These cases sometimes resulted in Hertz customers being arrested and even imprisoned. Scherr wasn’t the one who decided to make the big bet on EV demand by rental car customers.

Persons: Stephen Scherr, Goldman Sachs, He’ll, Gil West, Hertz, EVs, Tesla, ”, Daniel Ives, Ives, ” Ives, Scherr, Mark Fields, Ford, Paul Stone, Stone Organizations: New, New York CNN, Hertz, Delta Air Lines, General Motors, American, Wedbush Securities, EV, Volvo, Avis Budget Group, Tesla, Avis Budget, Enterprise Locations: New York, EVs, Tesla, Polestar

☆ A TikTok ban could be terrible news for Apple and Tesla
▼ + stars: | 2024-03-15 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +4 min

China could retaliate against Apple and Tesla via brand damage campaigns or stifling local ops. AdvertisementA potential TikTok ban in the US could spell trouble for Apple, Tesla, and other American companies operating in China. And on Wednesday, China's foreign ministry warned TikTok ban attempts would "eventually backfire on the US." Deepwater Asset Management managing partner Gene Munster told Business Insider he believes a TikTok ban has a 25% chance of materializing. In a world where there is a TikTok ban, Munster said, "Chinese leadership could expand its anti-iPhone campaign beyond the government."

Persons: TikTok, —, Gene, Munster, Dan Ives, Tesla Organizations: Apple, Service, Asset Management, Gene Munster, Business, Wedbush Securities, BI, Wynn Resorts, Las Vegas Sands, Texas Instruments, IPG Photonics, Financial Times, Huawei Locations: China, United States, Las Vegas, Qualcomm, Munster, —

☆ Former Treasury Secretary Steven Mnuchin is interested in buying TikTok
▼ + stars: | 2024-03-14 | by ( Elisabeth Buchwald | Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Former Treasury Secretary Steven Mnuchin said Thursday he’s assembling a team of investors to make a bid to buy TikTok. “It’s a great business and I’m going to put together a group to buy TikTok,” Mnuchin told CNBC Thursday morning. Even though TikTok is likely unprofitable, “it’s worth a lot of money,” he added. Mnuchin, though, said he’s looking to find a solution where the Chinese government will allow TikTok to be sold without a technology transfer. Even if that happens, any kind of TikTok ban would likely be fought in courts.

Persons: Steven Mnuchin, “ It’s, ” Mnuchin, TikTok, Mnuchin, “, ”, TikTok didn’t, Dan Ives, ” Ives, Donald Trump’s, Trump, Marjorie Taylor Greene, Nancy Mace, didn’t, Thursday’s, Joe Biden, Ives Organizations: New, New York CNN, Former, CNBC, Wedbush Securities, CNN, Liberty Strategic Capital, Facebook, Meta, Community Bank, Senate, Microsoft, Oracle Locations: New York, China, Montana

☆ House passes TikTok bill: What investors need to know
▼ + stars: | 2024-03-13 | 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 EmailHouse passes TikTok bill: What investors need to knowDan Ives, Wedbush Securities analyst, joins 'Squawk on the Street' to discuss what happens if the TikTok bill passes the Senate, if Ives will rerate any of the Big Tech stocks after Wednesday's news, and what it means for retaliatory measures China could place.

Persons: Dan Ives, Ives Organizations: Email, Wedbush Securities, Big Tech Locations: China

☆ Who is Jeff Yass? The billionaire donor with investments in TikTok’s parent company
▼ + stars: | 2024-03-12 | by ( Kalhan Rosenblatt | ) www.cnbc.com time to read: +3 min

Yass co-founded the Philadelphia-based trading firm Susquehanna International Group, which owns a 15% stake in TikTok's China-based parent company, ByteDance. Yass' investment is under threat today, and the typically press-shy billionaire is taking fire from both the left and the right. "This would be a nightmare for Yass, given the major investment in TikTok, if a forced ban hit the company under the Biden administration," Ives said. Today, at least 150 million Americans use TikTok regularly, according to company data. The company has said it stores U.S. users' data securely and rejects the idea that it poses a threat to national security.

Persons: Jeff Yass, Yass, Donald Trump, ByteDance, Joe Biden, Dan Ives, Biden, Ives, TikTok, Chip Roy, Shou Zi Chew Organizations: Susquehanna International Group, TikTok, Wedbush Securities, Susquehanna, NBC, Capitol Locations: TikTok, Washington, Yass, Philadelphia, TikTok's China, bankrolling, ByteDance, Beijing, Texas

☆ What to know about this AI stock with ties to Nvidia up nearly 170% in 2024
▼ + stars: | 2024-03-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Investors may want to keep an eye on this artificial intelligence voice-and-speech recognition stock with ties to Nvidia . Shares of SoundHound AI have surged almost 170% this year and nearly 347% in February alone as investors bet on new applications for the booming technology trend that has taken Wall Street by storm. SOUN YTD mountain SoundHound shares in 2024 While the Nvidia investment isn't new news for investors and analysts, it does reinforce SoundHound's value proposition. "With voice enabled units expected to grow to 70% of shipments by 2026, this represents a significant growth opportunity, in our view," he added. He estimates an $11 billion total addressable market when accounting for the immediate opportunities from quick-service restaurants and original equipment manufacturers.

Persons: Dan Ives, Ives, SoundHound, Ladenburg Thalmann's Glenn Mattson, Krispy, Davidson's Gil Luria, Cantor Fitzgerald's Brett Knoblauch, Wainwright's Scott Buck Organizations: Nvidia, Wedbush Securities Locations: Krispy Kreme, Jersey

☆ Premarket: Investors are obsessed with this AI stock you may never have heard of
▼ + stars: | 2024-03-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Nvidia isn’t the only stock capturing the attention of AI enthusiasts these days. Nvidia closed above a $2 trillion market cap on March 1, joining an elite cohort including Apple and Microsoft. Supermicro’s stock gained even more momentum in January, after the company reported second-quarter results that blew past expectations and raised its full-year revenue forecast. Supermicro’s stock was one of the most popular names bought by Charles Schwab clients in February, according to the firm’s latest trading activity index. New York Community Bank gets $1 billion ‘lifeline’Beleaguered regional lender New York Community Bank is receiving a more than $1 billion equity investment, reports my colleague Elisabeth Buchwald.

Persons: Charles Schwab, ChatGPT, “, ”, Supermicro, Wells Fargo, Goldman Sachs, Elisabeth Buchwald, Steven Mnuchin’s, NYCB, ” David Chiaverini, Joseph Otting, Alessandro DiNello, DiNello, Read, Jeremy Hunt, Hanna Ziady, Hunt, ” Hunt, Rishi Sunak’s Organizations: CNN Business, Bell, New York CNN, Nvidia, Apple, Microsoft, Micro, Devices, Federal Reserve, Victoria Bills, Banrion Capital Management, Bank of America, Goldman, New York Community Bank, New, Community Bank, Liberty Strategic Capital, Citadel Global, Street Journal, Wedbush Securities, CNN, Bank of England, International Monetary Fund, Hunt’s Conservative Party, Labour Party Locations: New York, San Jose, United States, Hudson Bay, NYCB

☆ 'People didn't see it coming': What to know about this hot AI stock up nearly 800% in the past year
▼ + stars: | 2024-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Here's a breakdown of how Super Micro got to this point, and where investors and analysts expect it to go. What to know about Super Micro Computer Creating servers isn't a new objective for the California-based company. Other shareholders such as Vendig have opted to take a breather on buying shares until the next earnings call. Those headwinds may not hit until 2025 but could hurt the stock if Super Micro fails to differentiate itself. "Super Micro was in the right place at the right time when generative AI took off, there really wasn't a competitor," he said.

Persons: hasn't, Paul Meeks, Brian Vendig, we've, Shreya Gheewala, Matt Bryson, Sylvia Jablonski, Jablonski, Vendig, Wedbush's Bryson Organizations: Nvidia, Devices, Computer, Management, MJP Wealth, AMD, Intel, Wedbush Securities, Micro, Super Micro, Super Locations: California

☆ Apple pulling out of EV project was the right move, says Wedbush's Dan Ives
▼ + stars: | 2024-02-28 | 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 pulling out of EV project was the right move, says Wedbush's Dan IvesDan Ives, Wedbush Securities analyst, and Gil Luria, D.A. Davidson senior software analyst, joins 'Squawk on the Street' to discuss each analyst's take on Apple's move out of automobiles, any idea how much capital Apple put towards its electric vehicle ambitions, and much more.

Persons: Wedbush's Dan Ives Dan Ives, Gil Luria, D.A Organizations: Apple, Wedbush Securities, Davidson

☆ 4 reasons why Wall Street fears that Nvidia's hard-earned gains could go up in smoke
▼ + stars: | 2024-02-27 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

In the last 15 months, Wall Street analysts have hailed generative AI as the most impactful innovation in decades and compared its theoretical impact to that of the internet. While the full impact of AI isn't clear yet, companies are under immense pressure to convince investors that they're not falling behind. "We can't envision any of these large cloud companies or consumer companies pulling back on AI spending anytime soon," Colello said. UBS"This is not always a harbinger of slowing revenue growth and a concentrated H200/B100 launch could be adding to near-term opex," Arcuri wrote in a recent note. AdvertisementDespite what Nvidia's recent performance suggests, Wall Street is notoriously tough to please.

Persons: —, Morgan Stanley, Steve Sosnick, Wedbush's Dan Ives, who's, Marcelli, they're, Sosnick, Brian Colello, Colello, They're, we're, Vivek Arya, Arya, Michael Landsberg, Landsberg, Jason Draho, Draho, Timothy Arcuri, Arcuri Organizations: Service, Wall Street, Business, Nvidia, Interactive, Bulls, Bank of America, Wedbush Securities, UBS, UBS Global Wealth Management, Morningstar, Landsberg Bennett, Wealth Management

☆ The AI party has already begun, says Wedbush Securities' Dan Ives
▼ + stars: | 2024-02-23 | 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 EmailThe AI party has already begun, says Wedbush Securities' Dan IvesDan Ives, Wedbush Securities, joins 'Squawk on the Street' to discuss why 1995 is an analog to where equity markets are right now, inventory corrections on a quarterly basis, and the multiplier effect for companies operating in the AI space.

Persons: Dan Ives Dan Ives Organizations: Wedbush Securities

☆ AI is having a '1995 moment'
▼ + stars: | 2024-02-23 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Read previewArtificial intelligence is having a 90s-like boom — and one analyst says Nvidia is leading the charge. "This is a 1995 Moment as now the AI Revolution and $1 trillion of incremental spending over the next decade is hitting the software ecosystem and rest of tech sector," Dan Ives, a tech analyst at Wedbush Securities, wrote in a recent analyst note. "The AI Revolution starts with Nvidia and in our view, the AI party and popcorn is just getting started," Ives said. "We started the AI journey with the hyperscale cloud providers and consumer internet companies," Huang said. "We're really just getting started," Huang said.

Persons: —, Dan Ives, Ives, Nvidia didn't, Jensen Huang —, Nvidia who's, Huang Organizations: Service, Nvidia, Wedbush Securities, Business, Adobe, Oracle

The company also has promised to wall off U.S. user data from its parent company through a separate entity run independently from ByteDance and monitored by outside observers. TikTok says new user data is currently being stored on servers maintained by the software company Oracle. The AP-NORC poll shows TikTok users — about 170 million in the U.S., most of whom skew younger — are less likely to be worried about the app sharing American users' data, reflecting a previously felt generational divide. The Biden campaign has said it is using a separate cellphone for TikTok to isolate the app from other communications and was taking additional steps for protection. The poll also found that about 6 in 10 U.S. adults — and 41% of daily TikTok users — are “extremely or very concerned” about the amount of time children and teenagers spend on TikTok.

Persons: Joe Biden’s, TikTok, ”, Dan Ives, Biden, Mark Warner, ” Warner, “, Alex Haurek, Vivek Ramaswamy, influencers, —, it’s, Linley Sanders, ___ Organizations: The Associated Press, NORC Center for Public Affairs Research, U.S, Oracle, Foreign Investment, Commerce Department, Wedbush Securities, European Union, Senate, Virginia Democrat, Republican, Union Locations: U.S, Beijing, Virginia, India, Washington

☆ AI in the data center will continue to grow, says Wedbush's Matt Bryson
▼ + stars: | 2024-02-14 | 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 EmailAI in the data center will continue to grow, says Wedbush's Matt BrysonMatt Bryson, senior vice president at Wedbush Securities, and CNBC's Kristina Partsinevelos join 'Power Lunch' to discuss under-the-radar chip stocks, how AI will impact the sector, and more.

Persons: Matt Bryson Matt Bryson, CNBC's Kristina Partsinevelos Organizations: Wedbush Securities

☆ It sounds like the Vision Pro 4 will be worth waiting for
▼ + stars: | 2024-02-12 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

The Vision Pro may be a few generations away from reaching its full potential, some developers say. AdvertisementApple has blown people away with its new Vision Pro headset — but some feel that there's much more to do. Gurman, in his review, wrote that "today's Vision Pro is more of a preview of the future than the future itself," pointing out its unwieldy weight and short battery life. "While many on the Street are dismissing Vision Pro as noise, we strongly disagree," the firm said. Business Insider's Jordan Hart also called the Vision Pro a "promising" technology, though she noted the relatively meager offerings on the device's App Store.

Persons: —, Marc Gurman, That's, Sam Altman, Altman, Business Insider's Jordan Hart Organizations: Service, Apple, Apple's Vision Products, Apple Watch, OpenAI, Twitter, Wedbush Securities, Vision, Business

☆ New York Community Bank’s stock price is plunging, but that won’t tell you if it’s on the brink of failure. Here’s what will
▼ + stars: | 2024-02-07 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —Some of the very first signs of banking stress in the crisis that unfolded last year were reflected in Silicon Valley Bank, Signature Bank and First Republic Bank’s nosediving share prices. That’s a considerably larger share compared to Signature Bank and Silicon Valley Bank shortly before their demises. So far, there’s no evidence that the bank is at risk of failingAs scary as it may be to see a bank’s stock price plunging, it’s not the best gauge for the bank’s viability. The best source of information on that front is a bank’s deposit flows, Chiaverini said. As of last quarter, deposits were down just 2% and declined even less excluding the custodial deposits connected to the acquisition of Signature Bank.

Persons: Bank’s, Thomas Cangemi, David Chiaverini, it’s, Chiaverini, NYCB, Janet Yellen, ” Yellen Organizations: New, New York CNN, Silicon Valley Bank, Signature Bank, First, New York Community Bancorp, Moody’s Investors Service, Wedbush Securities, ”, Silicon Valley, Bank of America, Financial Services, Federal Deposit Insurance Corporation Locations: New York, Silicon Valley

☆ Tesla's board faces a 'tornado situation' after Elon Musk's $55 billion pay package was struck down, analysts say
▼ + stars: | 2024-02-02 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

Tesla's board is at a crossroads after a hefty pay plan for Elon Musk was rejected, analysts said. After the Delaware ruling, Musk announced a shareholder vote to move Tesla's incorporation to Texas. AdvertisementTesla's board has its work cut out for it following a judge's surprise ruling against Elon Musk's massive payday, analysts said. "It now creates a tornado situation for Tesla's Board in the next move, with [Wall] Street closely watching this poker move and potential statement," the report said. "Musk is Tesla and Tesla is Musk," Dan Ives, managing director at Wedbush, told Business Insider.

Persons: Elon Musk, Musk, —, Tesla, Kathaleen McCormick, Wedbush, Dan Ives, Ives Organizations: Elon, Tesla, Service, Wedbush Securities, Board, Company, Investors, Reuters Locations: Delaware, Texas, Tesla

BANGKOK (AP) — Asian shares were mixed on Thursday after Wall Street fell to its worst loss since September as the Federal Reserve indicated cuts to interest rates are not imminent. On Wednesday, Big Tech stocks burned by the downside of high expectations triggered a sharp slide. The slide for Big Tech stocks dragged the Nasdaq composite to a market-leading loss of 2.2%. The Dow Jones Industrial Average, which has less of an emphasis on tech, fell a more modest 0.8%, to 38,150.30. Three more Big Tech stocks will report results on Thursday: Amazon, Apple and Meta Platforms, the parent company of Facebook and Instagram.

Persons: Dan Ives, ” Tesla, Elon Musk, “ We’re, ”, Jerome Powell, “ It’s, Powell Organizations: Federal Reserve, Nikkei, Big Tech, Nasdaq, Dow Jones, Microsoft, Wedbush Securities, ”, Apple, Facebook, Fed, Wednesday, Treasury, ADP Research, U.S, New York Mercantile Exchange, Brent Locations: BANGKOK, U.S, Shanghai, Seoul, Australia, India, Louvre, Delaware

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