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☆ Apple is the only US tech giant to have avoided significant layoffs
▼ + stars: | 2023-02-01 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +4 min

CNN —In less than three months, four of the big five US tech companies have cut tens of thousands of employees combined, shattering myths about the industry’s seemingly unstoppable growth in the process. Tom Forte, a senior research analyst at DA Davison, agreed there will be staff reductions, but likely not as drastic as those at other large tech companies. How Apple avoided layoffs, so farFueled by a surge in demand for digital products earlier in the pandemic, Big Tech went on a massive hiring spree. Inflation pinched consumer and business spending, and rising interest rates evaporated the easy money tech companies had tapped into. Like other Big Tech companies, it has faced threats of antitrust action in the United States and EU.

☆ Tesla shares rose 30% last week. Here’s where Wall Street sees it going next
▼ + stars: | 2023-01-31 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

This year so far, Tesla shares are up by around 44%. It follows a bleak 2022 when Tesla shares slumped over 35% in December and around 65% over the year. Its bear case is a $70 price target, while its bull case is $390. Garrett Nelson, senior equity analyst at CFRA Research, predicts a "strong rebound" for Tesla shares in 2023, calling its risk/reward "highly compelling" at current levels. Tesla shares ended Friday at $177.90.

☆ Don't expect price cuts on GM's $100,000 electric Hummer, despite EV discounts from Tesla and Ford
▼ + stars: | 2023-01-31 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Tesla spurred an EV price war earlier this month, with price cuts to its most popular models. But GM said Tuesday it won’t make cuts to its electric vehicles. The automaker will not be responding to the latest price cuts from Tesla and Detroit-rival Ford by cutting prices for its own electric cars, chief financial officer Paul Jacobson said on a Tuesday media call ahead of GM's fourth quarter earnings call. Facing weakening demand, Tesla slashed the prices of some of its most popular models earlier this month. GM CEO Mary Barra said Tuesday she is confident the company is well-positioned with its current EV prices.

[1/4] Ford Mustang Mach-E GT is seen during the Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. The move comes as electric vehicle manufacturers are feeling pressure from Tesla's price cut to respond. "Ford just cut Mustang EV prices in response to Tesla’s price cut. "Tesla’s price cut was a major blow to the prospects of competing EV models and the Mustang Mach-E directly competes with Tesla’s Model Y," said Garrett Nelson, an analyst at CFRA Research. Ford said existing Mustang Mach-E customers awaiting delivery of vehicles will automatically receive the price cut.

☆ Elon Musk says his Twitter misadventure has only helped Tesla. Wall Street isn't buying it.
▼ + stars: | 2023-01-27 | by ( Asia Martin | ) www.businessinsider.com time to read: +6 min

Wall Street analysts feel otherwise: They're bullish on Tesla, but think Musk is too distracted. Musk's tweets have gotten him in trouble with shareholders and the courts. Wall Street thinks Twitter is a costly distractionMusk is not wrong in that he and Tesla are reasonably popular on Twitter. But how many of Musk's and Tesla's followers converted to sales based on the content coming from those accounts? As in most things, there's always more to the story — but you can't deny the impact of Musk's Twitter habits, either.

☆ Chinese EV stocks rise as Elon Musk says he sees Tesla's biggest rival coming from China after the company posts record results
▼ + stars: | 2023-01-26 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Shares of Chinese EV makers rose Thursday after Tesla reported record quarterly profit. Tesla CEO Elon Musk said he believes his company's biggest rival could come out of China. Alongside a rally in Tesla shares, Nio stock gained 3.2%, Li Auto charged up 7%, XPeng advanced by 3.4%, and BYD gained 4.8%. Tesla shares climbed by more than 10% during Thursday's trading session to surpass $161 a share. Wedbush analyst Dan Ives raised his Tesla price target to $200 from $175 and said Tesla has a beatable vehicle-delivery target of 1.8 million in 2023.

☆ Elon Musk is gung-ho on Tesla sales hitting 2 million after price cuts, but a Wedbush analyst says it's having to 'sacrifice margins for volumes'
▼ + stars: | 2023-01-26 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Elon Musk said he expects Tesla sales to hit 2 million this year, following the company's aggressive price cuts. Still, the firm saw a drop in vehicle gross margins, showing it is having to "sacrifice margins for volume," a Wedbush analyst said. In an earnings call with analysts, Musk said he expects car deliveries to hit 2 million this year, per Reuters. That shows the company is enduring an erosion of margins in order to prop up sales volumes, according to Dan Ives, an analyst with Wedbush Securities. "They're ultimately needing to sacrifice margins for volume.

☆ Elon Musk calmed anxious Tesla investors by acting like a normal CEO for once
▼ + stars: | 2023-01-26 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Investors went into Tesla's earnings announcement Wednesday feeling trepidation, especially given signs the CEO was distracted by a series of gaffes at Twitter. But Musk quelled these fears with solid fourth-quarter results, a confident outlook for the year, and a dose of normalcy. Musk addresses demand worriesOn a call with investors following fourth quarter results, Musk addressed the demand worries head-on. "Tesla investors were worried that Musk wasn't focused," Beck told Insider. But investors left the earnings call yesterday reassured that Musk can manage both companies at once, said Darrell Martin, CEO of Apex Trader Funding.

☆ Tesla earnings lay the groundwork for another 38% rise in the stock after the EV maker delivers upbeat guidance, Wedbush says
▼ + stars: | 2023-01-26 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Tesla's Q4 earnings and guidance lay the foundation for the stock to jump back to $200, Wedbush said Thursday. Wedbush also raised its price target to $200, implying 38% upside for Tesla's stock from Wednesday's close. Analyst Dan Ives in a Thursday note lifted his Tesla price target to $200 from $175. Tesla stock charged up 7.7% to $152.63 during Thursday afternoon trade but pared a larger move. A number of investors and analysts, including Ives, have said Tesla's stock had come under pressure with Musk's controversial purchase of Twitter in October.

☆ Tesla beats on top and bottom lines
▼ + stars: | 2023-01-25 | 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 EmailTesla beats on top and bottom linesCNBC's Phil LeBeau joins 'Closing Bell: Overtime' to report on Tesla's earnings. Wedbush's Dan Ives reacts to the numbers.

☆ Earnings aren't as dismal as markets expected, says Hightower's Stephanie Link
▼ + stars: | 2023-01-25 | 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 EmailEarnings aren't as dismal as markets expected, says Hightower's Stephanie LinkRitholtz's Josh Brown, Hightower's Stephanie Link and Wedbush's Dan Ives, join 'Closing Bell: Overtime' to discuss earnings season for big tech and the broader markets.

☆ Microsoft's $10 billion bet on ChatGPT's maker gives it a powerful new weapon in the cloud wars with Amazon and Google
▼ + stars: | 2023-01-25 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Cloud, increasingly important to Microsoft, Amazon, and Google, is slowing down in the short term. But the company has a longer-term strategic weapon that could help it win the cloud wars: its once-in-a-generation bet on OpenAI. Any hint of a slowdown in growth for Microsoft's Azure, Amazon's AWS, and Google Cloud tends to provoke analyst angst. Even if there are immediate challenges for cloud growth, Microsoft sees its OpenAI bet, reported to be worth $10 billion, as a bigger strategic move. Microsoft Cloud, which also includes revenue from Office 365 and other products as well as Azure, represented around 50% of the company's overall revenue.

☆ Watch CNBC's full interview with Ritholtz's Josh Brown, Hightower's Stephanie Link and Wedbush's Dan Ives
▼ + stars: | 2023-01-25 | 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 EmailWatch CNBC's full interview with Ritholtz's Josh Brown, Hightower's Stephanie Link and Wedbush's Dan IvesRitholtz's Josh Brown, Hightower's Stephanie Link and Wedbush's Dan Ives, join 'Closing Bell: Overtime' to discuss earnings season for big tech and the broader markets.

☆ Microsoft CEO Satya Nadella says the great cloud slowdown won't last forever as he shares his plan for a big bounce back
▼ + stars: | 2023-01-25 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +4 min

Microsoft's earnings report Tuesday showed slowing cloud growth in a reality check for Wall Street. However, Microsoft's CEO and analysts think cloud is poised for a bounce-back after some hard times. Bernstein analysts wrote that Microsoft was the "canary in the coal mine" for cloud. Most analysts seem to agree with Nadella's approach, arguing that the cloud spending slowdown is temporary and not reflective of any longer-term trend. "We still think MSFT is well-placed to capture long-term opportunities," Bernstein analysts wrote to clients.

Jan 25 (Reuters) - Microsoft Corp's (MSFT.O) lackluster quarterly outlook points to more gloom ahead for the tech sector, analysts said, after the tech bellwether warned its customers were cautious about spending in a turbulent economy. Microsoft's Chief Executive Officer, Satya Nadella, and other Microsoft executives used the words "caution" and "cautious" at least six times on the one hour call on Tuesday. "Microsoft is the biggest bellwether for enterprise and cloud spending in the world. Analysts said the sharp slowdown in Microsoft's revenue growth was a "warning sign" for the tech sector, with more weakness at its PC division than the cloud business. Reporting by Nivedita Balu and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ 'One of the most important earnings calls in its history': Here's what Wall Street expects from Tesla's 4th-quarter earnings
▼ + stars: | 2023-01-25 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Tesla is set to report fourth-quarter earnings after the market close on Wednesday after a rocky 2022. Investors are laser-focused on the company's profit guidance after it announced big price cuts. Here's what Wall Street expects to see from the electric vehicle maker's earnings report. Detailed below is what three Wall Street analysts expect from Tesla's fourth-quarter earnings report. JPMorgan: Price cuts 'may lead to negative earnings revisions in coming quarters.'

☆ Tesla is having to 'sacrifice margins for volumes,' analyst Dan Ives says
▼ + stars: | 2023-01-25 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

Tesla 's fourth-quarter results are an early sign that the pioneering automaker has entered a new stage, according to Wedbush analyst Dan Ives. And now the question is, with a price war happening in China, what does the trajectory look like in 2023," Ives said on CNBC's " Closing Bell: Overtime " on Wednesday. Tesla has apparently implemented widespread price cuts in recent weeks, which could be due in part to increasing competition. Can they ramp deliveries — which we believe they can - and the scale and maintain the margins, which are so well above the industry," Ives said. Tesla did maintain its long-term outlook for 50% compound annual growth in vehicle deliveries, but its 1.8 million projection for 2023 would fall below that mark.

☆ Wall Street is still obsessed with Tesla. Here's what experts are saying as the EV-maker's key earnings report looms.
▼ + stars: | 2023-01-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

I'm senior reporter Phil Rosen, here to ring in a pivotal Tesla earnings report with you this morning. But his wealth — and the wealth of his shareholders — could whipsaw today, depending on what comes across in a particularly important earnings report. But amid the bearishness (not to mention distractions from Twitter), Elon Musk's car maker is still a favorite on Wall Street. FactSet data shows that 64% of analysts give Tesla stock a "buy" or "overweight" rating. US stock futures fall early Wednesday, after Microsoft earnings delivered a bleak outlook that added to investors' worries about earnings growth.

☆ Next up for Elon Musk: Crucial Tesla earnings and outlook
▼ + stars: | 2023-01-25 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

But on January 2, the company revealed disappointing fourth quarter sales, despite price cuts announced in December. “Will they rip the band-aid off and say they no longer will see 50% sales growth? Ives recently slashed his own Tesla price target from $250 to $175. Some of those sales came after Musk had declared on Twitter that he was done selling Tesla shares. “There’s so much noise that’s been an overhang on Tesla stock, from Twitter, to the court case, to his selling of stock,” said Ives.

☆ Here's why it's time to bet against a key sector of the market ahead of the coming recession
▼ + stars: | 2023-01-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Today, I'm sharing a research note from one analyst who's eyeing a new bet to place against a corner of the stock market that offered refuge last year. He's talking about the S&P 500 Consumer Staples Sector SPDR Fund. In his view, the consumer staples sector, which served as a haven last year, presents a bubble about to burst. How much credence do you give to chart analysis for stock market outlooks? The stock market is about to be flipped upside down, according to Bank of America.

☆ A Tesla buyer says he got a $12,000 discount after asking for a reduction on his order following big price cuts
▼ + stars: | 2023-01-21 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

One buyer told Insider he got a $12,000 reduction after asking Tesla to adjust the cost of his order. Other Tesla customers have voiced their disappointment about missing out on big price cuts. After Tesla announced significant price cuts earlier this month, he told Insider he contacted Tesla by online chat to ask for a reduction to his order. Marianne Simmons, who paid more than $77,000 in September for a Model Y, told Bloomberg: "I feel like I got duped. The price cuts contrast Tesla's approach in 2022 when it raised prices several times amid supply chain disruptions despite concerns about the broader economy.

Amazon, Microsoft, and Google announced layoffs of a total of 40,000 employees this week. Tech companies embarked on a massive hiring spree as the Covid-era made their products the backbone of the world's remote-working offices. The era of tech companies spending like rock stars is overOver the last decade Big Tech companies spent money "like 1980's rock stars," wrote Dan Ives, managing director at the investment firm Wedbush . On the other end, tech companies may look much different this decade as they did in the last. As companies like Google, Amazon, and Microsoft cut costs, they'll find ways to operate leaner, and their stock prices will stabilize.

☆ Tesla's demand problem may turn into a key advantage — if Elon Musk's 'strategic poker move' pays off
▼ + stars: | 2023-01-21 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +4 min

Price slashes and piled up inventory at Tesla pose a big problem for rival startups. The electric-vehicle company is grappling for the first time with a bloated inventory and softer demand for its cars. Tesla's move "represents a significant setback" for the company's EV competitors, Garrett Nelson, a vice president and senior equity analyst at the investment-research firm CFRA, said in a January 13 note. "This move from Tesla is going to have a huge impact on the EV market but especially on the startups." "Instead, we believe this likely is a bold offensive move, which secures Tesla's volume growth, puts its traditional and EV competitors in great difficulty, and showcases Tesla's considerable pricing power and cost superiority."

☆ Apple CEO Tim Cook's slow, steady leadership style may turn out to be the exact antidote to the carnage sweeping the tech sector
▼ + stars: | 2023-01-20 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +4 min

Apple is now the only major tech giant that hasn't conducted mass layoffs recently. Apple is in a different position than its peers because it has been more strategic about its growth. Wall Street hopes that CEO Tim Cook's pragmatic approach puts Apple in a better spot. Apple is in a different, stronger position, though, industry analysts tell Insider — a position that they say validates CEO Tim Cook's pragmatic approach to growth. Lastly, another hallmark of Cook's strategy is that Apple doesn't have a history of pouring money into risky, whimsical side projects.

☆ Wall Street's take on EV is sacrifice margins for volumes, says Wedbush Securities' Dan Ives
▼ + stars: | 2023-01-20 | 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 EmailWall Street's take on EV is sacrifice margins for volumes, says Wedbush Securities' Dan IvesDan Ives, Wedbush Securities Senior Equity research analyst, joins 'Closing Bell Overtime' to discuss Elon Musk's upcoming testimony over trading Tesla shares, the Wedbush China consumer study on EV, and developing innovation while cutting costs.

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