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☆ These smaller stocks could see big gains in 2024, Bank of America says
▼ + stars: | 2024-01-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +5 min

Against this backdrop, Bank of America on Monday released a list of best small- and mid-cap ideas for 2024. Strategist Jill Carey Hall added that this year's basket of 31 stocks has average 12-month potential upside of 29%, and is slightly tilted towards value stocks over growth. Shares of Bath & Body Works have trailed the market, rising 2.4% in 2023 and 0.4% so far in 2024. Bank of America also named United Airlines one of its top SMID ideas for 2024. Other names on Bank of America's list of SMID picks included e-commerce retailer Wayfair and aircraft leasing company Air Lease .

Persons: That's, Russell, Jill Carey Hall, Lorraine Hutchinson, Hutchinson, BofA, Geoff Meacham, Lou Gehrig's, Meacham, CyberArk, Tal Liani, Liani, Max, Andrew Didora, UAL, Didora, — CNBC's Michael Bloom Organizations: Wall, Bank of America, Monday, Body, Pharmaceuticals, TAM, United Airlines, Boeing, Bank of, Air Lease Locations: U.S, Amylyx, cybersecurity, CY26, Chicago

☆ Tech titans' AI funding frenzy: Here's what you need to know
▼ + stars: | 2024-01-26 | 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 titans' AI funding frenzy: Here's what you need to knowCNBC's Deirdre Bosa joins 'The Exchange' to report on industry leaders raising funds for AI, sentiment around AI development, and more.

Persons: Deirdre Bosa Organizations: Email Tech titans

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe headset wars: Why it's Apple's to loseTwo tech titans are now duking it out in the headset wars. Apple's Vision Pro and Meta's Quests offer different price points, different specs, and most importantly, different visions of the future of virtual reality. And both have big hurdles to clear. This week on TechCheck, why the headset battle is Apple's to lose.

Persons: Apple's

☆ Tech titans turn to AI startups
▼ + stars: | 2024-01-26 | 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 titans turn to AI startupsCNBC's Deirdre Bosa reports on the layoffs affecting the biggest tech companies and the investments they're making.

Persons: Deirdre Bosa Organizations: Email Tech titans

☆ Older tech titans outshining the Mag 7 with 'cash flow', says Douglas C. Lane's Sarat Sethi
▼ + stars: | 2024-01-25 | 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 EmailOlder tech titans outshining the Mag 7 with 'cash flow', says Douglas C. Lane's Sarat SethiHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Douglas C, Lane's Sarat Sethi, Brian Sullivan, “ Organizations: CNBC

☆ The S&P 500 just hit an all-time high – but many other US stocks are still in a bear market
▼ + stars: | 2024-01-22 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Read previewBlue-chip US stocks are trading at record levels – but small caps are still feeling the pain. That means the widely-followed gauge is technically still in a bear market, with high interest rates hammering lower-market-cap stocks even as AI powers the "Magnificent Seven" Big Tech titans to massive gains. "40% of Russell 2000 companies lose money, so these are companies that rely on credit to stay afloat." But the Russell 2000 is still in a bear market," he added. Economic bellwetherThe Russell 2000 isn't just a gauge of smaller-cap stock prices – it's also an economic bellwether.

Persons: —, Russell, they've, Ronald Temple, Lazard, Charles, Henry Monchau, That's, isn't, it's, JPMorgan Chase, Jamie Dimon, Steve Hanke, David Rosenberg, Hanke, Rosenberg, it'd Organizations: Service, Business, Big Tech titans, Federal Reserve, Facebook, Big Tech, Microsoft, Nvidia, Syz, LinkedIn, JPMorgan Locations: Swiss

☆ Don't worry — the machines won't be as smart as humans for a long time, because they've still got a lot to learn
▼ + stars: | 2024-01-20 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Much of today's most popular AI models, such as OpenAI's GPT-4, are trained on what's publicly available on the internet. It's worth noting that AI models exist today that are pretty effective at generating images, but these are text-to-image models, like Midjourney and Stable Diffusion. Koller also sees issues with today's LLMs. This isn't the first time doubts have been raised about the capacity of today's AI models. Steve Jennings/Getty Images for TechCrunchThis is not to say today's LLMs are useless.

Persons: —, OpenAI's ChatGPT, Bill Gates, Daphne Koller, MacArthur, Koller, Neilson Barnard, chatbots, Yann LeCun, –, today's LLMs, LLMs, that's, Kai, Fu Lee, Steve Jennings Organizations: Economic, Service, Big Tech titans, Google, Microsoft, Getty, Meta Locations: Davos, Switzerland, today's, silico

(PRO subscribers can view the official 2024 strategist survey here . ) "Lifting our 12-month S & P 500 target to 5100 as inflation falls, the Fed turns dovish, and real yields plunge," Kostin wrote. Other Wall Street firms with similarly bullish forecasts include Citigroup and BMO Capital Markets, which each have S & P 500 price targets of 5,100. Barclays' Venu Krishna was even more bearish, anticipating the S & P 500 would fall to 3,725. Entering the penultimate trading week of the year, the S & P 500 is almost 23% higher in 2023, while the Nasdaq Composite has advanced almost 42%.

Persons: —, Stocks, Sam Stovall, Monday, Stovall, Goldman Sachs, David Kostin, Kostin, John Stoltzfus, Stoltzfus, America's Savita Subramanian, JPMorgan's, Bujas, Morgan Stanley, BofA's Subramanian —, Venu Krishna, Oppenheimer's John Stoltzfus, Dow Industrials Organizations: CNBC, Federal Reserve, Dow Jones, CFRA Research, Goldman, Oppenheimer Asset Management, Citigroup, BMO Capital Markets, Bank, America's, Nvidia, Microsoft, Barclays, Nasdaq Locations: Friday's

☆ Here are the stocks — led by Microsoft — that matter most to hedge fund managers
▼ + stars: | 2023-11-22 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Many hedge funds have been skillfully navigating this year's market volatility. For investors seeking to follow the smart money, here are the stocks that mattered the most to these managers. VerityData analyzed 565 "fundamental" hedge funds that own between 10 and 300 positions each. The research firm then created a list of stocks that most frequently appear among the 10 largest holdings of those hedge funds. Other than Microsoft, the majority of the so-called " Magnificent Seven " mega-cap tech stocks — Amazon, Meta, Apple, Nvidia and Google's Alphabet — also made the list, VerityData said.

Persons: VerityData, Philippe Laffont's Coatue, Chase, Meta, Berkshire Hathaway Organizations: Microsoft, Philippe Laffont's Coatue Management, Tiger Global, Apple, Nvidia, JPMorgan, Berkshire

☆ Opinion | The OpenAI Coup Is Great for Microsoft. What Does It Mean for Us?
▼ + stars: | 2023-11-21 | by ( Julia Angwin | ) www.nytimes.com time to read: +1 min

There was the coup that hit the headlines: the OpenAI board’s abrupt ousting of its co-founder and chief executive, Sam Altman. Monday, it was announced that Microsoft was hiring Mr. Altman and another OpenAI co-founder, Greg Brockman. Microsoft had already invested more than $13 billion in OpenAI; its absorption of OpenAI leadership — and the likely hiring of hundreds of OpenAI staff members who signed a letter saying they would leave to join Microsoft unless the board resigned — effectively completes its takeover. OpenAI was founded in 2015 with the explicit mission of building an alternative to the for-profit A.I. It was established as a nonprofit, and its stated mission is to “ensure that artificial general intelligence benefits all of humanity.”

Persons: Sam Altman, Altman, Greg Brockman, —, OpenAI, ” Organizations: Microsoft Locations: OpenAI

☆ Goldman's hedge fund VIP portfolio is up 31% this year. These are the stocks on the list
▼ + stars: | 2023-11-21 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Hedge funds' favorite stocks have crushed the broader market in 2023, returning 31%, thanks to mega-cap technology companies, according to Goldman Sachs. It then compiled a basket of the most popular long positions, dubbed Goldman's "Hedge Fund VIP basket," consisting of 50 stocks that most frequently appear among hedge funds' 10 largest holdings. "From an implementation standpoint, the Hedge Fund VIP list represents a tool for investors seeking to 'follow the smart money' based on 13-F filings," Goldman said. "Mirroring the increasing concentration in the equity market, concentration in hedge fund portfolios has risen; the typical hedge fund holds 70% of its long portfolio in its top 10 positions," Goldman said. Goldman also noted that the overweight in mega-cap names lifted hedge fund exposure to "momentum stocks" to a near record.

Persons: Goldman Sachs, Goldman, — CNBC's Michael Bloom Organizations: Microsoft, Devices

☆ In ousting CEO Sam Altman, ChatGPT loses its best fundraiser
▼ + stars: | 2023-11-18 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +4 min

OpenAI CEO Sam Altman testifies before a Senate Judiciary Privacy, Technology & the Law Subcommittee hearing titled 'Oversight of A.I. But on Friday it was the earnest Altman who was upended after OpenAI’s board, in a surprise move, stripped him of his CEO title and directorship. Directors of the company, now worth about $80 billion, cited a failure to be "consistently candid in his communications." Further details of what finally led to the ouster of Altman were not immediately clear Friday. “You and a small group of rebels get the space to solve an important problem that might otherwise not get solved."

Persons: Sam Altman, Elizabeth Frantz, Sam Altman’s, Altman, Elon Musk’s, “, what’s, ” Altman, Satya Nadella, OpenAI, ”, Greg Bensinger, Diane Craft Organizations: Privacy, Technology, Intelligence, REUTERS, Microsoft, Wednesday, Google, Stanford, Thomson Locations: Washington , U.S, OpenAI, San Francisco, St, Louis , Missouri

☆ Elon Musk isn't helping his CEO Linda Yaccarino's claims that X is safe for companies
▼ + stars: | 2023-11-17 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

Linda Yaccarino's efforts to reassure companies about X are being undermined by Elon Musk. Yaccarino released a statement on Thursday saying X is working to combat antisemitism. However, one day before her post, Musk supported an antisemitic conspiracy theory on the platform. AdvertisementLinda Yaccarino's efforts to reassure companies that X is safe for brands are being undermined by Elon Musk's actions. The contrast between Yaccarino's statement and Musk's post was not lost on platform users.

Persons: Linda Yaccarino's, Elon Musk, Yaccarino, Musk, —, Elon Musk's, …, Linda Yaccarino, Dustin Moskovitz, Ross Gerber, Tesla, VWqtI32Jxz — Matthew Gertz, Yaccarino —, Yaccarino's, Lou Paskalis, they're Organizations: Service, IBM, Financial, Media, Apple, Comcast, X, Business, Reuters, Vox Media, Conference

☆ Elon Musk may see Mark Zuckerberg as a rival, but the Meta chief never used to have any interest in the X owner, author says
▼ + stars: | 2023-11-16 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Elon Musk and Mark Zuckerberg's rivalry has peaked this year. Ben Mezrich told Business Insider that Zuckerberg had shown little interest in Musk in the past. "I think Zuckerberg is more reacting to Elon." The tension between Musk and Zuckerberg culminated earlier this year when the Tesla CEO challenged Zuckerberg to a fight. Mezrich said Musk had wanted "to go head to head with Zuckerberg" for some time, and Zuckerberg was now engaging with the Tesla CEO.

Persons: Elon Musk, Zuckerberg's, Ben Mezrich, Zuckerberg, —, Mezrich, Musk, I've, Elon Organizations: Service, Elon Locations: Elon

☆ Tech execs are reportedly 'scrambling' to score a ticket to a dinner with China's president in San Francisco
▼ + stars: | 2023-11-14 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Chinese President Xi Jinping is slated to host an exclusive dinner for top executives during the summit. Tech leaders will have the opportunity to improve their business relationship with China. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementTech titans are expected to converge on San Francisco this week for some face time with the president of China. As such, a dinner invite from Chinese President Xi Jinping is highly coveted by executives attending the meeting.

Persons: execs, Xi Jinping, —, Satya Nadella, Citigroup's Jane Fraser, Tesla, Elon Musk, Xi, Darren Woods, Musk, Marc Benioff, Tim Cook isn't, Dan Prud'homme, Joe Biden Organizations: APEC, Tech, Service, Economic Cooperation, America, Microsoft, SpaceX, Bloomberg, Reuters, Exxon, Energy, Curb, Apple, Florida International University Locations: San Francisco, China, Asia, Taiwan

☆ Members of the 'PayPal Mafia' include tech titans like Elon Musk, Peter Thiel, and Reid Hoffman. Here's where they are now.
▼ + stars: | 2023-11-12 | by ( Tami Brehse | Kylie Kirschner | ) www.businessinsider.com time to read: +1 min

A group of early 2000s PayPal employees and founders came to be known as the "PayPal Mafia." The group includes Elon Musk, Peter Thiel, Reid Hoffman, and the founders of both YouTube and Yelp. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Members of the group include Elon Musk, Peter Thiel, and Reid Hoffman, along with over a dozen others. Here's a rundown of the most prominent members of this exclusive group and what they're up to over two decades later.

Persons: Elon Musk, Peter Thiel, Reid Hoffman, —, Fortune Organizations: PayPal, Elon, YouTube, Service, LinkedIn, PayPal Mafia

☆ Meta is returning to China 14 years after Facebook was blocked by striking a deal with Tencent to sell its VR headsets
▼ + stars: | 2023-11-10 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Meta is making a comeback to China 14 years after Facebook was blocked from being accessed there. The firm has struck a deal with Tencent to sell VR gear in 2024, The Wall Street Journal reported. Deals with Chinese firms are among the few ways big US tech companies can get a foothold there. China has largely banned US tech firms , bar Apple, from doing business there for several years. Meta still extracts cash out of China through Facebook and Instagram ads it sells to Chinese companies.

Persons: Tencent, —, Susan Li, Meta didn't Organizations: Facebook, Street Journal, Service, titans, Apple, Baidu, Meta, ABC News Locations: China, Xinjiang, Urumqi, Meta's

☆ OpenAI CEO Sam Altman once said the only time he ever 'froze' was when he met his childhood idol Steve Jobs
▼ + stars: | 2023-11-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

OpenAI CEO Sam Altman said he let his nerves get the better of him when he met Steve Jobs. In a resurfaced interview clip, Altman called Jobs his "childhood idol." The OpenAI CEO has more recently been compared to tech titans like Jobs. AdvertisementAdvertisementSam Altman once became deeply starstruck after meeting his idol, Steve Jobs. AdvertisementAdvertisementThe OpenAI CEO has become a star within the tech world after his company launched the viral chatbot ChatGPT.

Persons: Sam Altman, Steve Jobs, Altman, — Organizations: Jobs, Service, Apple, Microsoft, Google, CNN Locations: Silicon Valley

☆ Tech Titans Rebound From Tough Times as AI Fuels Optimism
▼ + stars: | 2023-10-30 | by ( Preetika Rana | Tom Dotan | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/ai/tech-titans-rebound-from-tough-times-as-ai-fuels-optimism-77038b3a

Persons: Dow Jones

☆ The shaky stock market is making Americans feel uneasy
▼ + stars: | 2023-10-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Americans’ moods soured this month, largely due to a wobbly stock market. The survey also showed that Americans became more pessimistic about the economy’s outlook for the year ahead. The tech-heavy Nasdaq tilted into correction territory Thursday as shares of some Big Tech companies slipped. Meanwhile, Americans’ inflation expectations for the year ahead worsened in October, jumping to 4.2% from 3.2% in September, the highest reading since May. The Federal Reserve pays close attention to inflation expectations, particularly longer-term expectations.

Persons: Joanne Hsu Organizations: DC CNN, University of Michigan’s, Consumers, Investors, Federal Reserve, Treasury, Meta, Microsoft, Google, Big Tech, Apple, Nvidia, Fed Locations: Washington

☆ Jefferies analyst says Microsoft can take cloud market share away from Amazon
▼ + stars: | 2023-10-25 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

As the tech titans prepare to square off in the great battle for cloud computing, Jefferies analyst Brent Thill says only two firms are likely to emerge as front-runners. "This is really a two-horse race, it's Amazon and Microsoft, " he told CNBC's " Squawk on the Street " on Wednesday. However, Thill believes Microsoft can take market share from the e-commerce giant. Big Tech was in focus Wednesday after Microsoft posted better-than-expected quarterly results that sent the stock up more than 2% . Google parent Alphabet, meanwhile, posted disappointing third-quarter cloud revenue and shares fell 9%.

Persons: Brent Thill, CNBC's, Thill, … Amazon's, Amazon's Organizations: titans, Jefferies, Microsoft, Tech, Google

☆ Treasury yields rise again as 10-year hovers near 5%
▼ + stars: | 2023-10-23 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

ET, the yield on the benchmark 10-year Treasury note rose by around 5 basis points to 4.9758%, while the yield on the 30-year Treasury bond climbed around 4 basis points to 5.1286%. U.S. Treasury yields ticked higher on Monday, hovering just below multiyear highs as investors continue to assess the prospect of higher-for-longer interest rates. Fed fund futures pricing reflects a 98% probability that the central bank keeps its main interest rate unchanged at the current target range of 5.25-5.5% at its next monetary policy meeting. Wall Street is awaiting a big week of corporate earnings, with tech titans Alphabet, Amazon, Meta and Microsoft all set to report. Auctions will be held Monday for $75 billion of three-month Treasury bills and $68 billion of six-month bills.

Persons: Jerome Powell Organizations: Treasury, Federal, Meta, Microsoft

☆ Stock futures edge higher on Sunday night as Wall Street awaits big tech earnings: Live updates
▼ + stars: | 2023-10-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on October 20, 2023 in New York City. Stock futures ticked higher on Sunday night as traders looked ahead to the release of corporate earnings from tech industry behemoths. S&P 500 futures and Nasdaq 100 futures climbed 0.23% and 0.15%, respectively. Earnings season ramps up this week, with a slew of big tech titans slated to report. Investors will anticipate results from Alphabet , Amazon , Meta and Microsoft to provide key information for the stock market.

Persons: Jerome Powell, Ryan Detrick Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Treasury, Federal, Economic, of New, Meta, Microsoft, Carson Group Locations: New York City, of New York

☆ Sam Altman says he has 'no interest in trying to compete with a smartphone,' following rumors of a collaboration with Jony Ive
▼ + stars: | 2023-10-18 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

During an event run by The Wall Street Journal, Sam Altman said he had many ideas for an AI device. The Information and FT reported that OpenAI was in talks with the iPhone designer Jony Ive. It followed speculation that OpenAI may be in talks to build an AI device in collaboration with other tech titans. AdvertisementAdvertisement"I'm interested in this topic, I think it is possible," Altman told The Wall Street Journal tech columnist Joanna Stern at the event. At the Journal's event, Altman said, "Smartphones are great.

Persons: Sam Altman, OpenAI, Jony, —, he's, Altman, Masayoshi, Joanna Stern Organizations: Wall Street, Service, Financial Times, Apple, Wall Street Journal

☆ The IRS gave us a window into how much tech titans have dodged in taxes
▼ + stars: | 2023-10-18 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Microsoft recently revealed that the IRS said it owes nearly $29 billion in back taxes. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementThe IRS says Microsoft owes nearly $29 billion in back taxes — and it might signal a greater spotlight on how much tech titans are paying in taxes. Since 2004, we have paid over $67 billion in taxes to the U.S."AdvertisementAdvertisementWhat it means for other tech giantsMicrosoft isn't alone . In the US, around $165 billion in profits were shifted, and the US saw a 16% loss in corporate tax revenue.

Persons: —, Daniel Goff, Natasha, Janet Yellen, Ludvig Wier, Gabriel Zucman, It's, it's Organizations: Microsoft, Service, IRS, titans, Yale Law School, Treasury Department, Danish Ministry of Finance, UC Berkeley Locations: Puerto Rico, U.S

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