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☆ Fast-food customers are shifting to casual-dining chains, Darden Restaurants CEO says
▼ + stars: | 2024-06-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Casual-dining chains are gaining customers who have grown frustrated with higher fast-food prices, Darden Restaurants CEO Rick Cardenas said on Thursday. Chili's rolled out an ad campaign that calls out the Big Mac and other fast-food burgers for their prices. Dine Brands CEO John Peyton told CNBC in May that Applebee's has been leaning into deals to win over fast-food diners. The overall consumer price index rose 3.3% in that period. In particular, McDonald's has faced backlash from customers, social media users and even House Republicans for its higher prices.

Persons: Rick Cardenas, Darden, hasn't, Brinker, Chili's, John Peyton, Applebee's, Cardenas, McDonald's, Joe Erlinger Organizations: Darden, Brinker International, Dine Brands, CNBC, of Labor, Republicans Locations: U.S

☆ CNBC's Inside India newsletter: India Inc might not even need a Fed rate cut — but it wants one
▼ + stars: | 2024-06-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +7 min

The big storyEmerging markets have been on tenterhooks for the better part of this year as the Federal Reserve has been dangling the prospect of an interest rate cut. Historically, as U.S. interest rates fall, the allure of the mighty dollar fades to the benefit of other currencies. Indeed, unlike most developed economies, India's interest rate regime in 2024 isn't any different from that of 2018. There lies the disconnect between the economy, the stock market, and a single stock. Non-bank lender Akme Fintrade India and engineering firm DEE Development Engineers will debut on the stock market on Wednesday.

Persons: Sumant Sinha, we've, Sinha, It's, Fitch, Rahul Jain, Goldman Sachs, Jake Sullivan, Modi, Narendra Modi, CNBC's Charmaine Jacob, Raamdeo Agrawal, CNBC's Tanvir Gill, Jain Organizations: Bloomberg, Getty, Federal Reserve, India Inc, Nasdaq, Reserve Bank of, U.S, Societe Generale, Goldman, Clean Energy, CNBC, Motilal Oswal Financial Services, of India, Bangladesh, Australia, DEE Development Engineers Locations: Tuticorin, India, Reserve Bank of India, Japan, Britain, Delhi

☆ Biden to ban U.S. sales of Kaspersky software over ties to Russia, source says
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: +4 min

Kaspersky Internet Security software is seen at the store in Krakow, Poland on December 30, 2021. A spokesperson for the Commerce Department declined to comment, while Kaspersky Lab and the Russian Embassy did not respond to requests for comment. Previously, Kaspersky has said that it is a privately managed company with no ties to the Russian government. The new restrictions on inbound sales of Kaspersky software, which will also bar downloads of software updates, resales and licensing of the product, kick in on Sept. 29, 100 days after publication, to give businesses time to find alternatives. If it only adds the Russian entity, the impact will be largely reputational.

Persons: Biden, Trump, Kaspersky, Donald Trump Organizations: Commerce Department, Russian Embassy, Biden, Department of Homeland Security, Kyiv, U.S, Reuters, Piaggio, Qatar Olympic Committee Locations: Krakow, Poland, United States, U.S, Russian, Moscow, Ukraine, Russia, China, New U.S, Massachusetts, Spain

☆ This AI play is about to pass Warren Buffett’s Berkshire Hathaway in market value
▼ + stars: | 2024-06-20 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Once-obscure chipmaker Broadcom has enjoyed a record-setting rally that's pushed its market capitalization inches behind Warren Buffett's Berkshire Hathaway conglomerate and its portfolio of household names and economic bellwethers. When Broadcom hit an all-time high earlier this week, its market capitalization briefly surpassed drug maker Eli Lilly's. As of Tuesday's close, Broadcom had a market cap of $839 billion, right behind Eli Lilly's $845 billion and Berkshire's $882 billion. Omaha-based Berkshire is currently No.7 in market value, after a cluster of megacap technology giants. Big AI beneficiary Broadcom, meanwhile, is seeing strong demand from customers in need of high-capacity chips that can power complex AI applications.

Persons: that's, Warren Buffett's, Eli Lilly's, Hock Tan, Steve Sosnick, Tesla, Morgan Stanley Organizations: Broadcom, Warren, Warren Buffett's Berkshire Hathaway, Apple, Berkshire, BNSF Railway, Geico Insurance, U.S ., PetroChina, Bank of America, Interactive Brokers, VMware Locations: Palo Alto , California, Omaha, Berkshire, U.S, Saudi Aramco

☆ Americans could be on a tight budget this summer
▼ + stars: | 2024-06-20 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Americans tend to shell out in the summer as they venture outdoors, book trips and step away from their desks. Consumers plan to spend less on away-from-home entertainment and vacations this summer, according to the 2024 KPMG Consumer Pulse Survey released Tuesday. That’s a contrast to last year when Americans shelled out on the “Barbenheimer” phenomenon, Taylor Swift and Beyoncé concert tickets and getaways. Retailers that offer Americans more bang for their buck including Ross Stores, TJ Maxx and HomeGoods-parent TJX, Dollar General and Walmart have benefitted. Americans are also feeling worse about the economy as they struggle with elevated inflation and high borrowing rates.

Persons: Taylor Swift, It’s, ”, Duleep Rodrigo, TJ Maxx, Mark Thompson, Henley, ” Hannah White, —, OpenAI’s Organizations: CNN Business, Bell, New York CNN, Pulse Survey, Commerce Department, Federal Reserve, Retailers, Ross Stores, Walmart, Abercrombie, Fitch, Williams, University, Michigan’s, Millionaires, Labour, Henley & Partners, Institute for Government, City of, Henley Private Wealth, Nvidia, Microsoft, Apple Locations: New York, Sonoma, Britain, United Kingdom, City of London

☆ China’s 618 e-commerce festival sees a decline in sales for the first time in 8 years, data firm Syntun says
▼ + stars: | 2024-06-20 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

China's annual 618 mid-year e-commerce festival saw sales drop for the first time in 8 years, according to retail data provider Syntun, signaling consumption recovery in the world's second-biggest economy was still quite slow. It was also the first time sales clocked a decline since Sytun began monitoring the event in 2016, the company told CNBC. It is China's second-biggest annual sales event after "Singles Day" in November — both are seen as a barometer for household consumption. Weak sales this year came despite some companies extending their 618 sales period, according to Sytun's analysis, which covered over 20 platforms. Tmall, for instance, started offering its 618 deals as early as May 20 this year, as opposed to its typical May 31 start date.

Organizations: CNBC, PDD Holdings, Apple

☆ Be careful what you wish for: The S&P 500 typically falls after the first rate cut
▼ + stars: | 2024-06-20 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

On average, the S & P 500 is usually up 2% 65 days before the first cut from the central bank following a hiking cycle, according to data from Strategas. But it's usually down by 1.5% 65 days after that initial rate reduction, implying that stocks may not be off to the races after the big announcement. In 1974, for example, the S & P 500 was down more than 8% in the 65 days prior and off by more than 25% in the same period following the cut. But in 1989, the broad index was up more than 12% in the 65 days preceding the rate reduction and still higher by more than 9% in the period after. Fed funds futures indicate a chance of at least one rate cut as early as September, with the potential for a second at the last meeting of the year in December, according to CMEGroup's FedWatch tool .

Persons: Ryan Grabinski, Chris Zaccarelli, Grabinski Organizations: Federal Reserve, Fed, Independent

☆ AI is consuming corporate tech spending budget, with most going to employee adoption
▼ + stars: | 2024-06-20 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +2 min

Among companies spending on AI, roughly four times as many are investing in employee-facing AI projects rather than customer apps, the survey also found. Sixty percent of the select group of companies responding to the survey described generative AI as critically important to their business, and artificial intelligence is the single-largest technology spending budget line item for the next year at 44% of companies. Cleaning up the vast amount of data already stored on a corporate enterprise is a process that could take a few years. "A lot of the spending on gen AI today does feel like it's more about prioritizing spending ... clients are focused on transforming using technology, data and AI, so a lot of what's driving our sales is getting ready for AI. We're seeing a lot of modern platforms being put in place because if you can't access your data, you're not going to be able to take advantage of AI," Sweet said.

Persons: Charles Giancarlo, Julie Sweet, Sweet Organizations: CNBC Technology, CNBC, Accenture

☆ Darden beats on earnings, even as Olive Garden, fine-dining sales drag
▼ + stars: | 2024-06-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Darden Restaurants on Thursday reported mixed quarterly results as Olive Garden's same-store sales fell for the second consecutive quarter. For fiscal 2025, Darden is forecasting that its same-store sales will grow just 1% to 2%. Darden's overall same-store sales were flat for the quarter, dragged down by weaker-than-expected sales at Olive Garden and its fine-dining restaurants. Last quarter, Olive Garden's same-store sales fell 1.8%, driven by a pullback from low-income consumers. LongHorn Steakhouse, which is overtaking Olive Garden as the gem of Darden's portfolio, was the only segment to report same-store sales growth.

Persons: Olive Garden's, Darden, Chris Steak, Eddie V's, Chris, Ruth's Chris Organizations: Darden, LSEG, Olive, LongHorn Locations: Olive

☆ After almost 30 years, Amazon's original book business is booming, leaked document shows
▼ + stars: | 2024-06-20 | by ( Eugene Kim | ) www.businessinsider.com time to read: +9 min

This is according to a detailed internal document obtained by Business Insider that reveals a host of new information and insights about Amazon's book business and the broader publishing landscape. Reliable data on this industry is limited or tightly controlled, so it's sometimes difficult to get handle on the scope of the book business. "Monopoly power"Amazon's book business has drawn antitrust scrutiny over the years. The company doesn't publicly disclose book sales, nor does it give a revenue breakdown of each retail category. The US accounts for over half of the salesThe document reveals a few staggering numbers that show how big Amazon's book business is.

Persons: —, John Warren, George Washington University's, doesn't, Lindsay Hamilton, Noble, Warren, Hamilton Organizations: Service, Business, Amazon, Federal, American Booksellers Association, FTC, Justice Department, BI, GMS, Barnes, Costco, Pew Research Center, George Washington University Locations: Germany, Japan, France, Italy, Spain, Australia

☆ Gilead’s twice-yearly shot to prevent HIV succeeds in late-stage trial
▼ + stars: | 2024-06-20 | by ( Angelica Peebles | In Angelicapeebles | ) www.cnbc.com time to read: +3 min

Gilead 's experimental twice-yearly medicine to prevent HIV was 100% effective in a late-stage trial, the company said Thursday. The results bring Gilead one step closer to introducing a new form of pre-exposure prophylaxis, or PrEP, and broadening its HIV business. If those results are positive, the company could bring lenacapavir for PrEP to market as soon as late 2025. RBC Capital Markets analyst Brian Abrahams expects Gilead's shot will significantly increase the number of people interested in preventive HIV medicine. In its statement disclosing the lenacapavir trial results Thursday, Gilead said it plans to share an update on how it plans to address access in such countries where people suffer high incidence rates of HIV.

Persons: Gilead, Jared Baeten, Gilead's Truvada, Bruce Richman, Tim Oliver, they'd, Brian Abrahams, Gilead's, — CNBC's Leanne Miller Organizations: Food and Drug Administration, PrEP, Centers for Disease Control, Prevention, Health, FDA, RBC Capital Locations: U.S, New York

☆ How the ‘song of the summer’ became a cultural phenomenon
▼ + stars: | 2024-06-20 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +12 min

And in an age where social media and streaming platforms have fragmented the cultural landscape, does the song of the summer even exist anymore? “It’s not like people were walking around in 1925 and saying, ‘You think that’s the summer song this year? New York Magazine’s 1995 Summer Fun issue devoted an article to examining the summer song as a unifying force — per the magazine, a summer song should be 1) released in the summer, 2) uncomplicated and 3) unforgettable. MTV’s Video Music Awards introduced a song of summer category in 2013, with One Direction’s “Best Song Ever” nabbing the inaugural award. Even as the song of the summer has become increasingly debatable, the idea that a single song could encapsulate a given summer continues to have a hold over our culture.

Persons: David Hajdu, “, ”, Hajdu, Phil Edwards, George Gershwin's, George Gershwin’s, Harry James ’, “ It’s, that’s, ’ ” Hajdu, Young, ’, ” Hajdu, Michael Ochs, Martha, Lovin, Sly, Stone, Robert Thompson, Ann Powers, Ricky Martin's, Frank Micelotta, ” Thompson, Thompson, gatekeepers, Vulture, Rolling Stone, It’s, Jason Lipshutz, Morgan, SZA, Armando L, Sanchez, Morgan Wallen’s “, Lipshutz, Miley Cyrus, Kylie Minogue, — Organizations: CNN, Day, Labor, Vox, Washington Post, Billboard, Beach Boys, Michael Ochs Archives, Vandellas, . Radio, Bleier Center for Television, Culture, Syracuse University . New, Bills, Backstreet Boys, Nielsen, American, Rolling, Social, Chicago Tribune, Tribune, Service Locations: America, Washington, Syracuse University . New York, “

☆ Why Olive Garden doesn’t want to give discounts
▼ + stars: | 2024-06-20 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

But Olive Garden is holding out. In the quarter ending on May 26, sales at Olive Garden restaurants open at least 16 months dropped 1.5%. Olive Garden has tried to avoid such pushback by keeping its price increases low. “While Olive Garden same restaurant sales were below the industry, same-restaurant guest counts outperformed the industry,” Vennam said. “The way we do it is more sustainable.”Rather than vie for customers with steep discounts, Olive Garden is planning to bring people in by highlighting its regular offerings.

Persons: they’ve, Olive, “ We’re, ”, Rick Cardenas, Olive Garden, Cardenas, Raj Vennam, ” Vennam, Eddie V’s, David Henkes, Technomic, ” Cardenas Organizations: New, New York CNN, Darden, Olive Garden, Olive, LongHorn, Bureau of Labor Statistics, CNN Locations: New York, Applebee’s, Olive Garden’s, Olive

☆ Asia's answer to Chipotle is now a $1.5 billion public company
▼ + stars: | 2024-06-20 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Read previewAsia's version of Chipotle — a Mexican fast-casual chain called Guzman y Gomez — just went public in Australia. The initial public offering brings GYG's valuation to 2.2 billion Australian dollars, or $1.47 billion. The US-based Mexican fast food chain is valued at $94 billion and posted a revenue of nearly $10 billion last year. Chipotle owns and operates all of its restaurants, unlike GYG, which follows a franchise model. They are only available to institutional investors, eligible employees and franchise holders, and retail clients of brokerages who have been allocated GYG shares, the company said in a pre-IPO release.

Persons: —, Guzman y Gomez —, GYG, Steven Marks, Marks, Chipotle, Michael Hutchens, didn't, Hutchens, brokerages Organizations: Service, Australian Securities Exchange, Business, Morningstar, Growth Partners, Barrenjoey, Cooper Investors, Hyperion Asset Management, Firetrail Investments, QVG Locations: Mexican, Australia, Sydney, Singapore, Japan, North America, Europe

☆ Stock futures are little changed after S&P 500 briefly tops 5,500: Live updates
▼ + stars: | 2024-06-20 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures hovered near the flatline Thursday night after the S&P 500 briefly climbed above 5,500 for the first time. Futures tied to the Dow Jones Industrial Average inched lower by 3 points, or 0.01%.S&P 500 futures were unchanged, and Nasdaq 100 futures advanced 0.07%. In Thursday's regular session, the S&P 500 closed 0.25% lower. At its highs of the day, the broad market index was up by as much as 0.34%, reaching 5,505.53. The S&P 500 is tracking for a roughly 0.8% advance, while the Nasdaq is up 0.2%.

Persons: Dow, Jamie Cox Organizations: Dow Jones, Nasdaq, Nvidia, Microsoft, Harris Financial

☆ Accenture CEO: A lot of our sales now are driven by getting ready for AI and building digital core
▼ + stars: | 2024-06-20 | 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 EmailAccenture CEO: A lot of our sales now are driven by getting ready for AI and building digital coreJulie Sweet, Accenture chair and CEO, joins 'Squawk on the Street' to discuss how much Sweet is positioning Accenture as an AI company, how companies are spending their limited budget, and more.

Persons: Julie Sweet Organizations: Accenture

☆ Nvidia gives up gains — plus, what's behind another rough day for Danaher
▼ + stars: | 2024-06-20 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Pain for Danaher: Danaher is having another rough day, falling more than 3%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Sartorius, Danaher, it's, There's, we'll, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Nvidia, Broadcom, Investors, Bank of America, P Global, Manufacturing, PMI, Jim Cramer's Charitable Locations: Europe

☆ Amazon is trying to eliminate plastic that doesn't get recycled. It's actually making some progress.
▼ + stars: | 2024-06-20 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Nearly all Amazon deliveries in North America no longer include plastic air pillows, the e-commerce giant said on TK [date] Thursday . Amazon said the change will avoid some 15 billion air pillows — the company's largest reduction in plastic packaging to date. Plastic air pillows are made with a film that's commonly found littering marine areas. It's enough to circle the Earth more than 200 times in the form of air pillows, Oceana said. Amazon's plastic packaging data reflects orders shipped through its own fulfillment centers — which some independent sellers opt for — and through its grocery business.

Persons: Amazon, Matt Littlejohn, Oceana's, Oceana, Pat Linder, That's, Linder Organizations: Service, TK, Business, Oceana Locations: North America, Europe, Oceana, Cleveland

☆ New Tesla video shows an early glimpse at how Elon Musk's robotaxi service could look
▼ + stars: | 2024-06-20 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewWe're less than two months away from Tesla's Robotaxi unveiling, but we're already getting an early glimpse at the ride-hailing platform on which the autonomous vehicles are expected to operate. "Still pinching myself that I got to demo Tesla's ride-hailing platform!" The video shows Nathans requesting the service by pressing a black-and-white circle with the word "Summon" within an app. The video shows Nathans adjusting her preferred temperature before the car arrives. AdvertisementTesla's Full Self-Driving software, which is still in beta, is the underlying software technology that the company is working on to power a stand-alone Tesla Robotaxi service.

Persons: —, Tesla's, we're, Rosalie Nathans, she's, Nathans, there's, Elon Musk's, Tesla, Musk, Walter Isaacson Organizations: Service, Tesla, Business, Elon, EV, Reuters Locations: Texas

☆ Startup Kinetic rolls out robots to fix electric cars, and someday robotaxis
▼ + stars: | 2024-06-20 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

By providing diagnostics and recalibration of the high-tech systems in modern vehicles, the company hopes to decrease costs associated with EV ownership and repairs. The existing collision repair industry is well-equipped to handle most physical fixes like replacing a bumper, a busted windshield, brakes and paint or adjusting alignment. But for many collision repair centers and auto dealerships, ensuring all sensors, software and computers are working properly can prove time-consuming and expensive. Kinetic puts its robotic systems and technicians to work helping these shops and dealerships fix the finicky, "digital" aspects of customers' cars. Then Kinetic's software, which is connected to the vehicle's systems, will initiate and track the completion of those fixes.

Persons: Power, Nikhil Naikal Organizations: EV Locations: U.S, Santa Ana, California

☆ Gold hits one-week high on Fed rate cut bets
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices climbed to their highest level in a week on Thursday as softer U.S. economic data increased the likelihood of interest rate cuts from the Federal Reserve this year. Spot gold was up 0.3% at $2,333.62 per ounce as of 0329 GMT after hitting its highest since June 12 earlier. "I am still favoring moves to the upside for the gold market in light of where we currently stand on the interest rate curve, which is at the peak," said Tim Waterer, chief market analyst at KCM Trade. "The gold market seems content to consolidate recent gains rather than reach higher at this stage, at least until we see some further evidence of softening U.S. macro data, which could alter the interest rate outlook."

Persons: Tim Waterer Organizations: Co, Federal Reserve, KCM, ANZ, U.S Locations: Bangkok, Thailand

☆ The global spike in luxury handbags, shoes, and clothing sales could be coming to an end due in part to China's 'luxury shaming,' study finds
▼ + stars: | 2024-06-20 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +1 min

Global luxury goods sales growth will slow in 2024, per a new Bain & Company report. "Luxury shaming" and price hikes without innovation could also contribute to sluggish sales growth. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe spike in the global sales of luxury goods could be coming to an end in 2024, and "luxury shaming" could be in part to blame. A report published on June 18 by Bain & Company forecast that worldwide sales of personal luxury goods — which include high-end clothing, shoes, handbags, and beauty products — would grow at the slowest rate since 2020, when sales plummeted due to pandemic-related factors.

Persons: — Organizations: Bain & Company, Service, Business

☆ Stock market today: Record-setting rally stalls as Nvidia slides and economic data softens
▼ + stars: | 2024-06-20 | by ( Max Adams | Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks closed mostly lower Thursday, ending a long streak of gains for the S&P 500 and the Nasdaq. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Nvidia dragged the market lower as the tech giant dropped 3% after rising as much in early morning trading. The S&P 500 climbed above 5,500 for the first time ever on Thursday before dipping back below that level. Advertisement"At the same time, labor market indicators like initial and continued jobless claims are weakening.

Persons: —, Bill Adams Organizations: Nasdaq, Nvidia, Traders, Service, Dow Jones, Comerica Bank

☆ McDonald’s releases a new $5 value meal to combat inflation
▼ + stars: | 2024-06-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —McDonald’s has revealed the details of its highly anticipated $5 value meal, which the fast food chain hopes will rev up sluggish sales and lure back customers who have cut back. Beginning June 25, McDonald’s US locations are selling a “$5 Meal Deal” for a limited time. Word of McDonald’s newest value meal was released last month in the Wall Street Journal, prompting fast food rivals to get a jumpstart on offering similar deals and attract cost-conscious eaters. Burger King, Wendy’s and even Starbucks have rolled out meal deals in recent weeks. The arrival of the McDonald’s meal deal comes at a time when the company is battling the perception that it has become too expensive.

Persons: New York CNN — McDonald’s, ”, Joe Erlinger, Burger, Erlinger, McDonald’s, “, they’re, John Palmaccio Organizations: New, New York CNN, McDonald’s, Street, Mac, ”, Advertising Fund Locations: New York, Memphis, Columbus , Ohio

☆ Apple Intelligence seems to have a ChatGPT-shaped problem in China
▼ + stars: | 2024-06-20 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +1 min

Apple is betting its future on Apple Intelligence. Apple may have a problem offering these services in China, its second-biggest iPhone market. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIf there's one place Tim Cook could do with Apple Intelligence being a real hit, it's China. This story is available exclusively to Business Insider subscribers.

Persons: —, Tim Cook Organizations: Apple, Apple Intelligence, Service, Business Locations: China, iPhones

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