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☆ Another Tesla Semi was spotted apparently broken down on the side of the road
▼ + stars: | 2023-01-20 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Images of another Tesla Semi on the side of the road are making the rounds on Twitter. Since Tesla started delivering its long-awaited Class 8 electric truck to customers last month, several of the vehicles have been spotted on the side of the road, apparently broken down. The sightings have called into question the reliability of Tesla's new electric semi, which started production at the company's Nevada manufacturing facility in October after years of delays. Yet another apparently stranded Tesla Semi was making the rounds on Twitter Thursday. Following Guillen's departure and a series of supply chain issues, Tesla pushed back the start of Semi production to 2022.

☆ Tesla stock could rally 35% as recent price cuts have already been a huge success in China, Wedbush's Dan Ives says
▼ + stars: | 2023-01-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Tesla could rally 35% this year as its recent price cuts have already been a success in China, Wedbush's Dan Ives said. In a Wedbush survey, 70% of consumers in China said they were positively influenced by recent price cuts to purchase a Tesla. Plus, nearly 70% of those surveyed said they've been positively influenced to purchase a Tesla due to the recent price cuts. "Tesla's recent price cuts [are a] huge success story so far," Ives said in a note on Thursday. Last week, Ives said in a separate note that Tesla's price cuts were a sign the company is getting more aggressive as competition heats up in electric vehicles.

☆ Analysis: Tesla's price cuts promise more pain for money-losing U.S. EV startups
▼ + stars: | 2023-01-20 | by ( Akash Sriram | ) www.reuters.com time to read: +4 min

Tesla's move will "strengthen their ... competitive advantage over other automakers," CFRA Research analyst Garrett Nelson said. 'GAME OF THRONES' FOR EV STARTUPSBoth Rivian and Lucid have yet to turn a profit. Reuters GraphicsStill, Rivian had $13.8 billion in cash at the end of the third quarter - the most among the U.S. EV startups. "It's a 'Game of Thrones' battle for EV startups and they face some dire options over the next 12 to 18 months if they do not succeed in their financial targets," said Wedbush Securities analyst Daniel Ives. Rivian sells its R1T pickup truck at a starting price of $73,000 while its R1S SUV starts at $78,000.

☆ The huge wave of tech layoffs is laying the groundwork for a 20% rally among stocks in the sector, Wedbush says
▼ + stars: | 2023-01-20 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Layoffs across tech are setting the stage for a 20% rally in the sector in 2023, Wedbush said Friday. Tech companies have been "spending money like 1980's Rock Stars," the firm said. Wedbush backed its call for tech stocks to rise up to 20% this year. The firm reiterated its call that tech stocks will rise 20% in 2023, adding that it considers the group "way oversold" at current levels. Tech layoffs are taking place after a "decade of hyper-growth," said Ives.

☆ Alphabet finally makes the tough call to lay off workers. Here's how its cut of 12,000 jobs compares to the rest of Silicon Valley.
▼ + stars: | 2023-01-20 | by ( Hasan Chowdhury | Asia Martin | ) www.businessinsider.com time to read: +5 min

Despite seemingly all of its internet peers announcing job cuts, Google likely hired another 6K employees in 4Q22," Schilsky wrote. The 12,000 figure shared by Pichai on Friday suggests Alphabet layoffs are roughly in line with most of its peers. Meta's layoffs of more than 11,000 employees — announced in November — work out to around 13% of the company's overall workforce. According to filings, 98% of Meta's revenue currently comes from ads, and 87% of Alphabet's revenue comes from advertising. This wouldn't be a problem, he suggests, if Meta's revenue per employee hadn't fallen over the last 12 months $1.6 million per employee to $1.4 million.

☆ FTX money trails leading to politicians, media, and other crypto exchanges point to the deep influence of Sam Bankman-Fried
▼ + stars: | 2023-01-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Here's what Bankman-Fried seemed to be aiming at: Stash money with all the right people, while lobbying for policy favorable to FTX. As CoinDesk reported this week, 37% of Congress took money from Bankman-Fried and other FTX executives. House Speaker Kevin McCarthy and Senate Majority Leader Chuck Schumer were among the 196 senators and representatives that received funds. Other lawmakers included some who were just sworn into congressional ranks this month, which points to Bankman-Fried possibly seeking to hold sway over new members. GOLDMAN SACHS stock price on Jan. 19, 2023 Markets Insider10.

[1/5] The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. Each of America's five largest tech companies, though, are expected to report a fall in profits for the October-December period, as they try to recalibrate in a high-interest environment. Facebook-owner Meta Platforms Inc (META.O) and Amazon.com Inc (AMZN.O) are expected to report the biggest declines. Big tech companies are expected to be among the biggest drags to S&P 500's eleven sectors, with the information technology sector projected to report an earnings decline of 9.5%, according to FactSet data. Analysts expect the company to report a 2.4% rise in revenue, the slowest pace in about 24 quarters.

The layoffs, far larger than cuts by Microsoft last year, add to the tens of thousands of job cuts across the technology sector, which has downshifted following a strong growth period during the pandemic. Nadella said the layoffs, affecting less than 5% of Microsoft's workforce, would conclude by the end of March, with notifications beginning Wednesday. The cuts reflect broader belt-tightening in the technology sector. The CEO of another company serving enterprises, Palantir Technologies Inc (PLTR.N), this week told Reuters that reducing cloud spending was a top-ten priority for his customers. Microsoft's cloud revenues soared in recent years from an explosion in corporate demand to host data online and handle computing in the so-called cloud.

☆ Here are the 12 top power players at Google leading the fight in AI against the smash hit ChatGPT
▼ + stars: | 2023-01-18 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +2 min

The internet has been mesmerized by ChatGPT, an AI bot that can answer just about any question. Here are 12 leaders heading up AI initiatives at Google that can help it take on ChatGPT. That last piece of information has people asking whether ChatGPT could prove a threat to Google's dominance. If a chatbot can return coherent responses to any query, why would anyone sift through a page of blue links? At the same time, Google has already produced much technology that could help it compete, including a chatbot called LaMDA.

☆ Microsoft's major layoffs prove that no tech giant is safe from the market downturn
▼ + stars: | 2023-01-18 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +4 min

Microsoft is the latest tech giant to have major layoffs, with plans to cut 10,000 employees. It's a strategy that will help these tech giants weather the ongoing downturn and come out on top, he added. Microsoft's layoffs also bring attention to the fact that the only tech giants that have avoided significant layoffs this cycle are Google and Apple. In another note to clients, RBC analysts advised C-suite leaders to bring down their quarterly and yearly revenue estimates even more. Got a tip about tech layoffs?

☆ Teslas are finally getting cheaper. It's a sign Elon Musk's back is against the wall.
▼ + stars: | 2023-01-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Tesla cutting prices by up to 20% on its models in a sign of trouble for Elon Musk. Interest rate hikes have also increased the costs of financing the purchase of a Tesla, making it harder for consumers already battered by inflation to make the switch. Moores added that when it comes to demand, "backlog orders have come down significantly for Tesla," making price cuts is "a good way to increase the immediate- and medium-term sales pipeline". Price cuts will of course be welcomed by consumers. Wedbush's Ives estimates that "all together these price cuts could spur demand" by 12-15% globally in 2023.

☆ The EV industry is getting its first recession stress test. Will it be a bust?
▼ + stars: | 2023-01-14 | by ( Tim Mullaney | ) www.cnbc.com time to read: +6 min

As electric-car stocks plummeted in late 2022, the rout evoked comparisons to the dot-com stock bust two decades ago. But optimists like Wedbush analyst Dan Ives think it's the right, aggressive move to jumpstart the EV transition amid macro uncertainty. "There's no stress test for a severe recession for an industry that's in its infancy." The outlook from China, home to more than half of the world's EV sales, according to Clean Technica, is at least as murky. Tesla's 2023 world is like Amazon and eBay's 2000A recession, if it happens, doesn't necessarily mean EV sales will fall.

☆ Tesla's price cuts will cause earnings to plunge 25%, but the EV maker is repairing its brand for long-term gain, Loup's Gene Munster says
▼ + stars: | 2023-01-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Tesla's price cuts will cause earnings to dive 25% this year, according to Loup's Gene Munster. "It's a win for consumers and Tesla's brand. Musk's cash-out and erratic behavior on the social media site are partly responsible for damaging Tesla's brand, Munster said. But he thinks the Tesla's image is now being repaired with price cuts, since the move will be favorable with Tesla's customers. Tesla is going to gain market share near term which has long term market share benefits as the EV market ramps," Munster tweeted.

☆ Tesla has slashed the prices of its Model 3 sedan and Model Y SUV between 6% and 20% in the US, as it reverses strategy after demand tapers
▼ + stars: | 2023-01-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Tesla has slashed the prices of its Model 3 sedan and Model Y SUV between 6% and 20% in the US. Prices of the Model 3 sedan and Model Y SUV were slashed on Thursday. Meanwhile, the long range Model Y now costs $52,990 — a 20% price cut from its sticker price of $65,990 previously. Tesla also slashed EV prices in the European markets like Germany, Austria, Switzerland, and France, per Reuters. At the end of 2022, Tesla was offering a rare $7,500 discount on its Model 3 and Model Y vehicles.

☆ Tesla drops as the EV maker cuts prices in the US and Europe, deepening the stock's rout
▼ + stars: | 2023-01-13 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

GettyTesla shares fell Friday after the company cut prices on its electric vehicles in the US and in Europe. Tesla stock finished 2022 among the S&P 500's 10 biggest decliners. Investors may later come to see Tesla's price cuts as the 'right' move directed by CEO Elon Musk, said Wedbush Securities. Tesla's moves in the US and in Europe follow recent price cuts in China and other markets in Asia aimed at bolstering sales. Tesla in 2022 delivered a record 1.3 million EVs but fourth-quarter deliveries fell short of market expectations.

☆ Tesla just started an electric car price war, and it's bad news for Ford and GM
▼ + stars: | 2023-01-13 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Tesla has discounted its Model 3 and Model Y cars by up to 20% in a bid to goose sales. The starting price of a Model S also dropped nearly 10%, while the Model X is down 9%. Once a luxury item, Tesla's vehicles will now compete with EVs marketed to more average car buyers. Ford recently hiked the starting price on its F-150 Lightning electric truck to $56,000, up from the original starting price of $40,000. The electric car company has long resisted traditional auto industry discounts, and Musk has even criticized the practice in the past.

☆ The cloud investing outlook after the stocks were cut in half last year — Top picks for '23
▼ + stars: | 2023-01-11 | by ( Frank Holland | In | ) www.cnbc.com time to read: +1 min

Cloud computing, enterprise software and cybersecurity stocks underperformed the broader market in 2022, but one top analyst sees value in the space. The Wisdom Tree Cloud Computing ETF , which includes Salesforce, Adobe and Shopify, fell more than 51% last year. Top Picks Ives says his top pick for the sector is Microsoft . Some of that could go to the cloud space. For possible takeout candidates and more on the 2023 outlook for the cloud, see the video above exclusive for the PRO audience.

☆ Microsoft is becoming more of a cloud play, says Wedbush's Dan Ives
▼ + stars: | 2023-01-10 | 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 EmailMicrosoft is becoming more of a cloud play, says Wedbush's Dan IvesWedbush's Dan Ives joins 'Closing Bell: Overtime' to discuss Microsoft and where he sees the stock headed from here. He has an outperform rating on the stock with a price target of $290.

☆ The December jobs report sent mixed signals. Here's what it means for markets.
▼ + stars: | 2023-01-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

The December jobs report is another data point that signals the Fed has more work to do to cool the economy. "A labor market this strong means an imminent recession is highly improbable," Indeed Hiring Lab economist Nick Bunker wrote in a note. While stocks usually sell off after these strong reports, fearing the worst from the Fed, Friday saw a strong rally. History suggests there are very strong odds the stock market gains 20% this year after last year's bludgeoning. Tesla stock has tumbled to multiyear lows.

☆ Silicon Valley layoffs go from bad to worse
▼ + stars: | 2023-01-09 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +6 min

At Amazon and other tech companies, the second half of last year was marked by hiring freezes, layoffs and other cost-cutting measures at a number of household names in Silicon Valley. Rising interest rates also dried up the easy money tech companies relied on to fuel big bets on future innovations, and cut into their sky-high valuations. While there have been some layoffs recently in the consumer goods sector and hints of more to come elsewhere, the situation in Silicon Valley remains in stark contrast to the economy as a whole. And despite the robust overall labor market, there are growing concerns that tech layoffs could spread elsewhere. In that sense, at least, Silicon Valley may once again be ahead of the curve, but not in the way it wants.

☆ Elon Musk's Twitter chaos has investors asking Tesla to act like a basic automaker
▼ + stars: | 2023-01-08 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Tesla investors think Elon Musk's Twitter controversies are hurting the automaker's value. Tesla shares dropped 65% in 2022, and are still sliding. While Tesla deals with these time-worn industry problems, Musk has courted controversy at Twitter, and Tesla investors are tiring of the potential effect on Tesla's value. Shares of Tesla dropped 65% last year, and continue to slideBut investors have reason to worry. Shares of Tesla dropped 65% in 2022, with much of that slide happening after Musk took over Twitter in October.

☆ Buy these 10 top tech stocks before the sector rises 20% this year by cutting costs and crushing low expectations, according to Wedbush
▼ + stars: | 2023-01-06 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Technology analyst Dan Ives of Wedbush Securities is still bullish on the tech sector in 2023. Here are Ives' favorite 10 tech stocks to own right now. But instead of unloading tech stocks, Ives believes that now is the time to pounce. Lower costs and resilient revenue will help tech companies top a relatively low bar for estimates, Ives wrote. 10 top tech stocks to buy in 2023While Ives is bullish on tech broadly, he sees some industries within the sector as especially enticing.

☆ It's becoming increasingly clear Tesla is just another car company
▼ + stars: | 2023-01-06 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Tesla has been resorting to the same tricks car companies use to paper over their problems. Tesla cuts pricesAt the end of 2021, rental-car giant Hertz said it had ordered 10,000 Tesla Model 3s for its fleet. The announcement was met with excitement from EV boosters, but automotive industry experts and executives wondered at the time if this was an early sign of over-building at Tesla. Experts think discounts will continueMeanwhile, Tesla's stock price is plummeting amid Musk's controversies at Twitter and worries from analysts that the car company is essentially operating without a CEO at the moment. Experts and analysts will be watching to see if the electric car company returns to its no-discount way of life, or continues to pull from old industry playbooks.

☆ Job cuts from Amazon and Salesforce are the first step in staging a turnaround for tech that will see the sector jump 20% in 2023, Wedbush says
▼ + stars: | 2023-01-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Recent job cuts from Amazon and Salesforce represent the first necessary step in staging a turnaround for tech stocks, according to Wedbush. "Investors want these management teams to get ahead of the storm and preserve margins and the bottom-line," Wedbush said. Wedbush expects the tech sector to deliver a 20% gain in 2023 despite economic uncertainty. Ives is bullish on the tech sector because valuation multiples are below their five-year average, and it is "the most under-owned tech sector we have seen since 2009," according to the note. We double down on our call that we believe tech stocks will be up 20% this year and are way oversold at current levels," Ives said.

☆ Apple is coming off a terrible year and Wall Street is torn on whether it's set for more pain or about to skyrocket.
▼ + stars: | 2023-01-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

While the meeting minutes don't tell us exactly what the Fed will do next month, generally they are worth paying attention to for hints into the thinking of central bankers. Shares fell further on Tuesday and Wednesday after a Nikkei report said demand for MacBooks, AirPods, and Apple Watches is weakening. But Loup Funds' Gene Munster said Apple stock should be worth double its current value, given that it's one of the world's greatest companies. What's your outlook for Apple stock this year? This hedge fund manager has returned 163% over the last year, and he's anticipating more pain to come for stocks.

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