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☆ 'Big Short' investor Michael Burry says Salesforce stock should've plunged 25% after big job cuts
▼ + stars: | 2023-01-05 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

"Big Short" investor Michael Burry is surprised Salesforce stock didn't drop on job cut news. "CRM should have been down 25% on those job cuts. Job cuts are so not the reason to own that," he tweeted. "CRM should have been down 25% on those job cuts. Salesforce stock rose 3.6% after the announced cut to its labor force on Wednesday.

☆ Apple gets its price target slashed by nearly 13% at Wedbush, but it says the tech giant's demand story still looks more resilient than Wall Street believes
▼ + stars: | 2023-01-04 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

Apple's price target was cut by more than 12% to $175 at Wedbush Securities on Wednesday. Demand headwinds are creeping into Apple's growth story but the overall picture is more resilient than Wall Street is seeing, the firm said. It cut its price target on Apple by 12% to $175 from $200 and held onto its outperform rating. Meanwhile, Apple's underlying demand story still has more than 200 million iPhone units that haven't been upgraded in about four years. The new $175 price target reflects a more base-case valuation in an uncertain environment with some demand headwinds starting to creep into Apple's growth story, said Ives.

☆ Tom Zhu: Elon Musk’s right-hand man at Tesla
▼ + stars: | 2023-01-04 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Tesla’s China chief has reportedly been given a big promotion. Tom Zhu, Tesla's executive in charge of China, speaks as a new Tesla experience store opens near West Lake on August 18, 2015 in Hangzhou, China. Zhu joined Tesla in 2014 and has been described as “pragmatic,” “industrious” and “a workaholic” by the Chinese media. Aerial view of Tesla Shanghai Gigafactory at Lingang New Area on July 11, 2021 in Shanghai, China. Tesla’s China successZhu’s reported promotion came after an impressive performance by Tesla’s China operations.

☆ Tesla stock is at a 'fork in the road' as Elon Musk needs to lead the EV maker through weakness in demand, says Wedbush analyst Dan Ives
▼ + stars: | 2023-01-04 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Tesla stock is "way oversold," but 2023 is a critical year for the EV maker, Wedbush said Wednesday. Tesla under Musk's directions needs to project "hittable" 2023 target and delivery numbers, says analyst Dan Ives. He reiterated an outperform rating and a $175 price target on Tesla. The "Twitter distraction along with this current demand situation is creating a perfect storm for the stock," said Ives. Wedbush's $125 price target on Tesla represents a 62% upside from Tuesday's closing price of $108.10.

☆ Salesforce to cut about 10% of staff
▼ + stars: | 2023-01-04 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +3 min

CNN —Salesforce said Wednesday that it will cut approximately 10% of its workforce and reduce its real estate footprint, making it the latest tech company to slash expenses as broader economic uncertainty continues to hit Silicon Valley particularly hard. “I’ve been thinking a lot about how we came to this moment,” Benioff wrote. Like Benioff, a number of other tech founders and CEOs have since admitted they failed to accurately gauge pandemic demand. As a result, tech firms including Amazon and Meta have announced company-wide layoffs. And most of all, please lean on your leadership, including me, as we work through this difficult time together.”

☆ Cathie Wood's Ark funds plow another $19 million into Tesla stock after Elon Musk's EV maker missed delivery targets
▼ + stars: | 2023-01-04 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Two of Cathie Wood's Ark Invest funds snapped up another $19 million worth of Tesla shares Tuesday. Tesla shares fell over 12% Tuesday after the EV maker said it had delivered fewer cars than expected in the previous 12 months. The moves add to Wood's dip-buying spree that saw Ark buy roughly $88 million of Tesla stock in the fourth quarter of last year. Tesla stock fell 65% over the course of last year, and plunged 40% in December alone. In premarket trading Wednesday, Tesla shares were up almost 1% at $109.04.

☆ Watch CNBC’s full interview with Wedbush Securities' Dan Ives
▼ + stars: | 2023-01-04 | 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 Wedbush Securities' Dan IvesDan Ives, Wedbush Securities, joins 'Closing Bell: Overtime' to offer his bullish case for Apple as the stock rebounds from its 52-week low. He also discusses Wedbush cut to the stock.

☆ With big bets on Musk, these funds may have a Tesla problem in '23
▼ + stars: | 2023-01-04 | by ( David Randall | ) www.reuters.com time to read: +4 min

Those funds dropped by an average of 42.1% last year, more than double the average 17% decline among U.S. stock funds, according to Morningstar. The $6 billion Baron Partners Retail fund, which leads all US mutual funds with about 52% of its assets in Tesla shares, fell nearly 43% last year, while the $54 million Zevenbergen Genea Institutional fund, which has 13% of its assets in Tesla, fell nearly 59%. Tesla fell about 65% last year, with declines accelerating after Musk decided to buy social media network Twitter, which some investors see as a distraction to the chief executive. His net worth has fallen by more than $100 billion, according to Forbes, bumping him from the position of world's richest person. The fund fell 67% last year, putting it near the bottom of all U.S. equity funds.

☆ Inflation fears fade as geopolitical risks rise
▼ + stars: | 2023-01-04 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

New York CNN —Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. “Inflation shockwaves” still feature as one of Eurasia’s top political risks for 2023 in a new report. But FTX and Alameda were each forced to file for bankruptcy in December after investors rushed to pull deposits. Just a year ago, Apple was the first company in the world to reach a $3 trillion market valuation.

☆ iPhone demand can withstand the dark macro picture, says Wedbush's Dan Ives
▼ + stars: | 2023-01-04 | 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 EmailiPhone demand can withstand the dark macro picture, says Wedbush's Dan IvesDan Ives, Wedbush Securities, joins 'Closing Bell: Overtime' to offer his bullish case for Apple as the stock rebounds from its 52-week low. He also discusses Wedbush cut to the stock.

☆ Cloud Talk: The 2023 outlook for cloud, enterprise and cybersecurity stocks
▼ + stars: | 2023-01-03 | 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 EmailCloud Talk: The 2023 outlook for cloud, enterprise and cybersecurity stocksCloud stocks underperformed in 2022 if you look at the WCLD Wisdom Tree Cloud Computing ETF falling more than 50 percent, compared to the S&P 500 falling 20 percent and the Nasdaq 100 falling more than 30 percent. Frank Holland talks with Dan Ives, managing director and senior equity research analyst for technology at Wedbush, about his 2023 outlook for the sector, top stock picks and potential merger and acquisition targets.

☆ Tesla’s shares plunge further on weaker than expected sales
▼ + stars: | 2023-01-03 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Tesla shares plunged more about 13% in early trading Tuesday, as weaker than expected global sales caused the company’s massive slide in its share price that began last year to continue. While it had already warned it would miss that aggressive full-year target, its fourth quarter sales of 405,278 cars was far weaker than feared. The 13% drop in Tesla (TSLA) shares, if it holds, would be the worst day for Tesla (TSLA) shares in more than two years. The company’s shares ended 2022 down 65% for the year, greatly cutting into Musk’s net worth and knocking him out of his position as the world’s richest person. It was the worst year ever for Tesla (TSLA) shares, which gained 743% in 2020 and another 50% in 2021.

☆ Tesla watchers like Morgan Stanley and Deutsche Bank aren't sweating its big Q4 miss
▼ + stars: | 2023-01-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Certainly, a number of investors aren't thrilled to see Tesla's numbers fail to meet expectations, and that vehicle supply outpaced demand yet again. "We expect challenging headlines around demand softening and associated price cuts to continue," Deutsche Bank said. Keeping the faithGarrett Nelson, VP and senior equity analyst at CFRA Research, reiterated his strong buy opinion on Tesla shares. Nelson also expects new record-high volumes for Tesla as it continues to ramp up production in Austin, Texas, and Berlin. "However, Tesla is held to a higher standard and a miss is a miss and the bulls are not popping champagne on these numbers."

Hong Kong CNN —Production at the world’s biggest iPhone factory, disrupted since October by China’s Covid-19 restrictions and worker protests, is now running at nearly full capacity, according to a Chinese state media report. The sprawling campus in central China, owned by Apple (AAPL) supplier Foxconn, was running at 90% of planned production capacity at the end of December, the Henan Daily newspaper reported Tuesday. It cited an interview with Wang Xue, deputy general manager of the facility, which is also known as iPhone city. Gou’s office told CNN that it “denies the report and its contents.”Wang was quoted by the Henan Daily as saying iPhone City currently had about 200,000 workers on site. Analysts said the production woes at iPhone City would speed up the pace of Apple’s supply chain diversification away from China.

☆ From a Deepfaked Elon Musk to RadioShack’s NSFW Tweets, CMO Today’s Twenty-Two Most-Read Stories of 2022
▼ + stars: | 2022-12-29 | by ( Nat Ives | ) www.wsj.com time to read: +7 min

Our report on deepfakes was the most-read CMO Today story in 2022. Prepare for what’s coming with this list of CMO Today’s most-read coverage in 2022, presented in order of popularity. How NSFW Tweets Plug Into RadioShack’s New Marketing StrategyAbel Czupor, who leads RadioShack’s newly edgy marketing. Newsletter Sign-up WSJ | CMO Today CMO Today delivers the most important news of the day for media and marketing professionals. Photo: KayakA hospitality empire decided to try its hand at ad sales, too.

Tesla shares are trading at $122, with the stock up about 8% Thursday. Why Tesla is tankingA popular misconception has emerged about Elon Musk and Tesla: The megabillionaire’s love affair with Twitter is the main reason Tesla shares have lost so much value this year. Musk, Tesla’s largest shareholder, has sold $23 billion worth of Tesla shares since his interest in Twitter became public in April. On a Twitter Spaces call last week call, Musk promised he was done selling shares of Tesla (TSLA) stock until at least 2024, if not beyond. But he hasn’t lived up to a previous promise in April that he was done selling Tesla (TSLA) shares, selling $14.4 billion of that stock since that time.

☆ Elon Musk must do these 10 things to turn Tesla stock around in 2023, says Wedbush's Dan Ives
▼ + stars: | 2022-12-29 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

Wedbush's Dan Ives listed 10 steps for Elon Musk to take to turn Tesla stock around in the new year. Among the steps are naming a new CEO of Twitter by the end of January and Tesla stock buybacks. "The 50% growth target is not happening in our opinion, with 35%+ delivery growth a more hittable and realistic goal for 2023." Issue a Tesla stock buyback. "Right now very simply the fear is Twitter is bleeding money with advertisers fleeing (for now) which means more losses and therefore more Musk TSLA stock sales.

☆ Tesla's set to grow its lead in the electric car race despite its worrying demand slump, Morgan Stanley says
▼ + stars: | 2022-12-29 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

But Elon Musk's automaker remains poised to lead the EV race in 2023, Morgan Stanley said this week. EV supply outpacing consumer demand next year will benefit Tesla. Tesla will "widen its lead in the EV race" next year, Adam Jonas said. Even with the increased competition, Tesla may be in a position to extend its lead in 2023, Jonas wrote. All automakers, Tesla included, have struggled to get the cost of their EVs down.

☆ Crumbling tech stocks and recession fears have cratered the fortunes of the wealthiest Americans including Elon Musk and Jeff Bezos.
▼ + stars: | 2022-12-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Britta Pedersen-Pool/Getty Images; Arif Hudaverdi Yaman/Getty Images; KENZO TRIBOUILLARD/Getty Images; Mike Cohen/Getty Images; Yuqing Liu/Business Insider1. Besides the fallen crypto king, many of these shrinking fortunes can be chalked up to this year's bloodbath in the tech stocks. How has Elon Musk's involvement with Twitter impacted your outlook for Tesla stock? Tesla stock price on December, 29, 2022 Markets Insider10. Tesla stock climbed Wednesday as dip-buyers poured into the EV maker.

☆ Tech has been like a horror show this year, says Wedbush's Dan Ives
▼ + stars: | 2022-12-28 | 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 EmailTech has been like a horror show this year, says Wedbush's Dan IvesDan Ives of Wedbush and Gene Munster of Loup Ventures join Brian Sullivan and the 'CNBC Special: Taking Stock 2023' to discuss the year in tech and why they've had such a bad year in 2022.

☆ Tesla shares record rare jump this month on the way to worst year
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +2 min

Dec 28 (Reuters) - Shares of Tesla Inc (TSLA.O) snapped a seven-session losing streak on Wednesday, in their rare rise this month on the way to what will be the electric-vehicle maker's worst year on record. "The shorts are piling on and the stock is way oversold here, which could drive a bounce-back rally," Wedbush analyst Dan Ives said. Tesla short sellers stand to book a profit of $16.94 billion, their first gain since at least 2016, compared with a $10.26 billion loss last year. Short sellers borrow shares to sell them on the open market in the hope of buying them back at a cheaper price and pocketing the difference. There could be more short selling until a firm-priced floor is established, Dusaniwsky said.

☆ Tesla stock is on the brink of its longest losing streak ever as shares threaten to falter for 8 consecutive days
▼ + stars: | 2022-12-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Tesla stock has endured seven consecutive losing sessions, and an eighth would mark its longest losing streak ever. After rallying early Wednesday, shares of Elon Musk's EV company gave up gains. Tesla has tumbled roughly 40% in December alone, and almost 70% year to date. On Tuesday, the stock tumbled 11% after Reuters reported that Tesla's Shanghai factory will extend its production slowdown through the end of January. Meanwhile, Tesla has proven to be the most profitable short bet this year, with traders doubling down on bearish plays.

☆ Big Tech predictions for 2023: A rival for Twitter, Amazon deceleration, Google's AI wake-up call, Microsoft's serious game, cloud bills, and DTC decline
▼ + stars: | 2022-12-28 | by ( Hugh Langley | Kali Hays | Ashley Stewart | ) www.businessinsider.com time to read: +9 min

The painful adjustments will ripple across the industry in 2023.Insider's Big Tech reporters share what to watch this coming year. At $44 billion, the debt-fueled deal was completed quickly at valuations from the frothy tech bull market of 2021. Jonathan Raa/NurPhoto via Getty ImagesThe slow breakdown of Twitter under Musk appears to be upon us. Mastodon has experienced a major influx of users, hitting more than 5 million accounts after Musk took over Twitter. With intense tech antitrust scrutiny, these new services are unlikely to be gobbled up by Big Tech.

☆ Watch CNBC’s full post-market interview with Wedbush's Dan Ives, EMJ Capital’s Eric Jackson and Puck’s William Cohan
▼ + stars: | 2022-12-27 | 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 post-market interview with Wedbush's Dan Ives, EMJ Capital’s Eric Jackson and Puck’s William CohanWedbush's Dan Ives, EMJ Capital’s Eric Jackson and Puck’s William Cohan join 'Closing Bell: Overtime' to discuss Tesla as the stock closes down again today and is on track to have its worst year since 2016.

☆ Wedbush's Dan Ives calls Twitter an albatross on Tesla's neck
▼ + stars: | 2022-12-27 | 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 Dan Ives calls Twitter an albatross on Tesla's neckDan Ives, Wedbush, joins 'Closing Bell: Overtime' to discuss Tesla as the stock closes down again today and is on track to have its worst year since 2016.

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