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☆ Upgrades to keep the US military's oldest bombers — its B-52s — flying for a century are running into delays and rising costs, watchdog finds
▼ + stars: | 2024-06-21 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

AdvertisementThat's three years later than the Air Force planned to have the re-engined planes operating. U.S. Air Force photo by Tech. A U.S. Air Force B-52H Stratofortress assigned to the 20th Expeditionary Bomb Squadron at Barksdale Air Force Base, Louisiana, arrives on the flightline August 4, 2023, as part of a Bomber Task Force mission at Andersen Air Force Base, Guam. The Air Force plans to keep the planes in service until 2050, almost 100 years after the first B-52 entered service. The Air Force continues to rely on the B-52s for long-range strategic bomber missions, even though they lack the speed of the B-1 Lancers and the stealth of the B-2 Spirits.

Persons: —, Joshua J, Garcia, Nia Jacobs Organizations: Service, US Air, Business, Air Force, Royce, Pilots, 2nd Bomb, RAF Fairford, U.S . Air Force, Tech, Inside Defense, Department of Defense, 20th Expeditionary Bomb, Barksdale Air Force Base, Bomber Task Force, Andersen Air Force Base, The Air Force, Lancers Locations: United Kingdom, Louisiana, Guam, U.S, Arizona

Meanwhile, Jefferies increased its price target on Ingersoll Rand. Nagel also lifted his price target by $10 to $120, which now suggests shares have upside of 25.6%. Analyst Jason Bednar kept his overweight rating on the dental health stock while slashing his price target by $45 to $330. — Alex Harring 5:56 a.m.: Jefferies raises Ingersoll Rand price target The outlook for Ingersoll Rand is looking brighter after a recent acquisition, according to Jefferies. Analyst Stephen Volkmann reiterated his buy rating on the industrial stock and raised his price target to $110 from $105.

Persons: D.A, Davidson, Jefferies, Ingersoll Rand, Oppenheimer, bullish, Brian Nagel, Nagel, — Alex Harring, Piper Sandler, Jason Bednar, Bednar, Howard Ma, Ma, Evercore ISI's Amit Daryanani, Stephen Volkmann, Fred Imbert, Rudy Kessinger, Kessinger, Palo, PANW, Alex Harring Organizations: CNBC, Palo Alto Networks, Nike, Technology, 2Q, Guggenheim, workloads, Jefferies, ILC, Palo, Network Security, Cloud Security, Security Locations: ILC Dover, Palo Alto, Palo

☆ IMF chief says Europe looks like 'an ideas supermarket' for the U.S., calls for further integration
▼ + stars: | 2024-06-20 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Kristalina Georgieva, chief executive officer of the World Bank Group, arrives to a briefing at the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Friday, April 19, 2024. Speaking to CNBC's Karen Tso, IMF Managing Director Kristalina Georgieva said Europe's economic performance was strengthening and inflation was clearly on a downward trajectory. One, to achieve the full potential of the single market. Right now, Europe looks like an ideas supermarket for the United States," Georgieva said. [It is] 27 countries not yet integrated in a single market."

Persons: Kristalina Georgieva, Karen Tso, Georgieva Organizations: World Bank Group, International Monetary Fund, Bank, IMF, European Central Bank Locations: Washington , DC, Europe, United States

☆ NatWest swoops on retailer Sainsbury's banking business
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: +2 min

The disposal by Sainsbury's mirrors this year's deal by rival supermarket chain Tesco to offload most of its banking activities to Barclays for 600 million pounds. The assets acquired include 1.4 billion pounds in unsecured personal loans, 1.1 billion pounds in credit card balances and about 2.6 billion pounds of customer deposits. The deal is expected to close in March 2025 and NatWest will receive an additional 125 million pounds payment from Sainsbury's at completion. Argos Financial Services (AFS) is also excluded from the deal, the retailer said, adding that its plans for this business will be announced at a future date. Sainsbury's expects to return excess capital of at least 250 million pounds to investors after the disposal and its future model for AFS is in place.

Persons: Jose Sarmento Matos, Paul Thwaite, Thwaite, Sainsbury's, Simon Roberts Organizations: National Statistics, Bloomberg, Getty, NatWest, Sainsbury, NatWest Chief, Tesco, Barclays, Argos Financial Services Locations: London

☆ 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

☆ Swiss regulator rules out UBS antitrust action over Credit Suisse deal
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +2 min

Switzerland's financial regulator ruled on Wednesday that the UBS takeover of Credit Suisse did not create any competition concerns, despite recommendations from the country's antitrust watchdog that it merited further scrutiny. "The merger of UBS and Credit Suisse will not eliminate effective competition in any market segment," Swiss financial regulator FINMA said in a statement. UBS said it will continue to implement its integration of Credit Suisse after FINMA's report. It also narrowed the financing options for the country's high-cost, export-orientated companies, especially with Credit Suisse seen as the bank which supported entrepreneurs. "When I look at the discussion after Credit Suisse's rescue by UBS, I see more fear than courage," he said in Lucerne.

Persons: FINMA, Sergio Ermotti Organizations: UBS, Credit Suisse Locations: Switzerland, Swiss, Lucerne

☆ We're trimming an AI winner and putting some of the proceeds into a data center power play
▼ + stars: | 2024-06-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Shortly after the opening bell, we'll be selling 10 shares of Broadcom at roughly $1,853 and buying 55 shares of Dover at roughly $179. AVGO YTD mountain Broadcom YTD Adding to the enthusiasm was the announcement of a 10-for-1 forward stock split, which came on the heels of one from our other chip name Nvidia . DOV YTD mountain Dover YTD We'll put more than half of the Broadcom sale proceeds to scale further into Dover, which also benefits from the data center infrastructure investment cycle. That data center energy play is also why we're in electrical component and power management giant Eaton . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, DOV, DOV YTD, We'll, Nvidia's Blackwell, ETN DOV, Jim Cramer, Jim Organizations: Broadcom, Dover, VMware, Nvidia, Products Company, CNBC Locations: Dover, Eaton

☆ Marlene Engelhorn: Austrian pro-tax heiress gives wealth to social, climate, left-wing groups
▼ + stars: | 2024-06-18 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Reuters —An heiress who has denounced the absence of taxes on wealth and inheritance in Austria has given the bulk of her money, 25 million euros ($27 million), to 77 organizations, including social and climate groups, as well as prominent left-wing ones. A spokesman said the 25 million euros was “the overwhelming bulk” of her wealth, though she retains an undisclosed sum. Engelhorn is a descendant of Friedrich Engelhorn, who founded German chemicals giant BASF in 1865. When Engelhorn-Vechiatto died in 2022, Marlene inherited a large sum. “Now, it is up to the political actors to do justice to what this group representative of the Austrian population has embodied,” Engelhorn said, calling for more debate on these issues.

Persons: Marlene Engelhorn, ” Engelhorn, ”, Engelhorn, Friedrich Engelhorn, Gertraud Engelhorn, Vechiatto, Marlene, Joe Klamar, Elisabeth Klein Organizations: Reuters, BASF, Concordia, Getty, Momentum Institute, Austrian Nature Conservation Federation Locations: Austria, Austrian, “, Vienna, AFP

☆ Insider Today: Meta's manager squeeze
▼ + stars: | 2024-06-16 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Apple announced Apple Intelligence at WWDC 2024. CEO Tim Cook unveiled Apple Intelligence, a generative AI system partly powered by ChatGPT (for now). Assuming Apple Intelligence works as intended, there will be even more reason to switch to or stay with Apple. Add it all together, and, as Linette Lopez writes, Apple may be the one Big Tech company getting AI right.

Persons: —, there's, Jimmy Donaldson, Justin Sullivan, Apple, Tim Cook, Katie Notopoulos, OpenAI, Linette Lopez, Alyssa Powell, Fitch, it's, Abercrombie, Mark Zuckerberg, Michel Shvo Patrick McMullan, Chelsea Jia Feng, Michael Shvo, Shvo, he's, Grace J, Kim, Gen Zers, There's, isn't, Z Organizations: Service, Business, Apple, Apple Intelligence, Google, Microsoft, Big Tech, Getty, Abercrombie, Fitch, GameStop Locations: cologne, New York City

☆ Apple Is the First Giant Tech Company to Make Useful AI Products
▼ + stars: | 2024-06-16 | by ( Linette Lopez | ) www.businessinsider.com time to read: +9 min

Apple's scale and specificity of vision also make it the first Big Tech company to get AI integration right. The fact that people are disappointed in Apple says more about the hype around AI's capabilities than it does about Apple. In that way, Apple's cautious approach may be a service for the rest of the tech industry. By slowly acclimatizing its constellation of users to AI that makes their lives better instead of frustrating them, Apple makes the tech feel like a natural upgrade instead of an unreliable, scary intrusion. AdvertisementSure, Apple's AI may not be sexy or scary, but at least it doesn't seem stupid.

Persons: Katie Collins, Mark Gurman, Jordan Hart, Elon Musk, OpenAI's, Marc Andreessen's, confidants, Musk, Tesla, AI's, that's, Yann LeCun, Siri Organizations: Worldwide Developers, Apple, Apple Intelligence, Big Tech, Nvidia Locations: Silicon Valley, Silicon, Albany, New York City, New York

☆ How Apple, Microsoft and 3 other tech giants can make money with AI geared to consumers
▼ + stars: | 2024-06-16 | by ( Morgan Chittum | ) www.cnbc.com time to read: +10 min

(Expected AI-driven device upgrades from Apple, Microsoft, and other personal tech makers is the reason we're invested in Best Buy . Microsoft, Apple and fellow Club name Nvidia have all eclipsed $3 trillion market values — and have been wrestling for the top spot as the most valuable U.S. company. META YTD mountain Meta Platforms (META) year-to-date performance Meta Platforms is monetizing consumer interest in AI by boosting user engagement. The Meta AI generative artificial intelligence assistant is currently free to use. AMZN YTD mountain Amazon (AMZN) year-to-performance Comparable to Meta, Amazon offers AI to consumers for free to increase engagement on its dominant e-commerce platform.

Persons: Tim Cook, Siri, Apple, WWDC, Piper Sandler, Jim Cramer, Bard, Missteps, Jim, Jim Cramer's, Eugene Mymrin Organizations: Apple, Apple Intelligence, Developer Conference, Microsoft, Services, Cook, Co, AI Party, Bloomberg, Microsoft's, Computing, Club, Nvidia, Gmail, Google, ChatGPT, Facebook, Citi, Meta, Amazon, Amazon Web Services, CNBC Locations: China, Cupertino, U.S

☆ We're locking in a big gain on a tech stock that erased most of a recent sell-off
▼ + stars: | 2024-06-14 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Palo Alto Networks has had a strong week, rallying more than 5% to trade back near its highest levels since before the stock's dramatic February sell-off . Still, we think it's prudent to lock in some gains on Palo Alto considering Wall Street's recent attitudes toward the company. 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's, It's, Jim Cramer, Jim Organizations: Palo Alto Networks, Palo, Broadcom, VMware, CNBC Locations: Palo, Palo Alto

☆ 'I don't like Apple': Why one veteran portfolio manager is steering clear of the tech giant
▼ + stars: | 2024-06-14 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Tech giant Apple has made headlines this week following its artificial intelligence announcements — but one market watcher is unimpressed. "I do not like Apple," Paul Meeks, co-chief investment officer at Harvest Portfolio Management told CNBC's "Street Signs Asia" on Tuesday — while acknowledging that many people disagree with him. Apple's shares reacted positively to the announcement, surging 7% to close at a record high on Tuesday. Shares in the tech giant are up over 10% year-to-date and 16% in the past 12 months. AAPL YTD mountain Year-to-date shares in Apple Meeks, however, maintains his bearish stance on Apple.

Persons: Paul Meeks, CNBC's, —, wearables, Siri, OpenAI's ChatGPT, Apple Meeks, Meeks Organizations: Tech, Apple, Portfolio Management, Wall

☆ You could get partial ownership of an AI company that may have scraped photos of your face online
▼ + stars: | 2024-06-14 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Read previewYour face could make you a shareholder in Clearview AI, thanks to the terms of a potential settlement of a lawsuit against the company. Related storiesLawyers leading the charge against Clearview argued that the company's approach violated the privacy of people whose photos it used. "Clearview AI is pleased to have reached an agreement in this class-action settlement," Jim Thompson, a partner at Lynch Thompson and lawyer for Clearview, told Business Insider through a spokesperson. The proposed settlement gives people whose photos were used by Clearview a stake in the company's future. AdvertisementBut the proposal also contains an irony for the people whose photos Clearview AI used.

Persons: —, Clearview, Jim Thompson, Lynch Thompson, Jay Edelson Organizations: Service, The New York Times, Business, FBI, US Army, Court, Facebook, Apple

☆ OpenAI adds former NSA chief to its board
▼ + stars: | 2024-06-13 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

OpenAI on Thursday announced its newest board member: Paul M. Nakasone, a retired U.S. Army general and former director of the National Security Agency. Nakasone was the longest-serving leader of the U.S. Cyber Command and chief of the Central Security Service. The company said Sarah Friar, previously CEO of Nextdoor and finance chief at Square, is joining as chief financial officer. OpenAI also hired Kevin Weil, an ex-president at Planet Labs, as its new chief product officer. Weil was previously a senior vice president at Twitter and a vice president at Facebook and Instagram.

Persons: Paul Nakasone, OpenAI, Paul M, Nakasone, OpenAI's, Adam D'Angelo, Larry Summers, Bret Taylor, Sam Altman, Sue Desmond, Hellmann, Melinda Gates, Nicole Seligman, Fidji Simo, Siri, Sarah Friar, Friar, Kevin Weil, Weil Organizations: National Security Agency, Intelligence, Capitol, U.S . Army, U.S . Cyber Command, Central Security Service, Security, Sony, Monday, Apple, Planet Labs, Twitter, Facebook Locations: Washington, U.S

☆ From prison to the trenches: Inside Ukraine’s attempt to turn inmates into soldiers
▼ + stars: | 2024-06-13 | by ( Daria Tarasova-Markina | ) edition.cnn.com time to read: +11 min

Central Ukraine CNN —Battalion commander Dmytro Kukharchuk speaks quietly but firmly. Dmytro told CNN he knew he wanted to fight from the moment the war started. But since I couldn’t, I will now protect other families who want to live and have children,” he told CNN. Dmytro told CNN that he grew up as an orphan and started stealing when he was young. Of the 17 inmates who wanted to join on the day CNN visited the prison, the 3rd Separate Assault Brigade recruited 12.

Persons: Dmytro Kukharchuk, –, Kukharchuk doesn’t, attentively, ”, Daria Tarasova, Kukharchuk, “, I’m, Wagner, Denys Maliuska, Maliuska, Dmytro, CNN ‘ Organizations: Central, Central Ukraine CNN —, Ukraine, Separate Assault Brigade, CNN, Russia, Ministry of Justice, Ukraine’s, Ministry, 110th Mechanized Brigade, Ministry of Defense, Armed Forces of Locations: Central Ukraine, Bakhmut, Ukraine, Russia’s, Avdiivka, Ukrainian, Kyiv, Russia, Armed Forces of Ukraine, Russian, Izium, Kukharchuk

☆ What is Apple’s AI doing with your data?
▼ + stars: | 2024-06-13 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

As much as possible, Apple will try to process AI prompts directly on your device using smaller AI models. After fulfilling a user’s AI request, Private Cloud Compute scrubs itself of any user data involved in the process, Apple said. For example, when you use ChatGPT, OpenAI discloses that it uses your data to further train its AI models. With Private Cloud Compute, you theoretically won’t have to take Apple’s word that it doesn’t use your data for AI training. Apple’s AI models didn’t spring up out of nowhere.

Persons: Washington CNN —, you’ve, Apple, ChatGPT, Siri, didn’t, OpenAI, ChatGPT’s, ”, Craig Federighi, —, ” “, Apple hasn’t Organizations: Washington CNN, Worldwide Developers, Apple, Apple Intelligence Locations: Apple’s

☆ American Power Shift: CEOs, Average Employees Live in Different Cities
▼ + stars: | 2024-06-12 | by ( Ned Resnikoff | ) www.businessinsider.com time to read: +9 min

Given this truism, it's no wonder that the populations of America's so-called superstar cities have stagnated while the Sun Belt's metropolitan areas have boomed. The COVID-era transition to more remote work accelerated this process of "domestic offshoring," a recent study by the workforce-analytics company ADP found. Domestic offshoring regionally segregates middle- and working-class employees from their employers, making it far more difficult for the former group to advance professionally. Domestic offshoring threatens to lock in these effects, potentially costing the country trillions of dollars in forgone wealth creation. But if domestic offshoring persists, fewer of the city's other residents will be middle-class professionals; those people will tend to congregate in domestic-offshoring sites.

Persons: Austin, Chang, Tai Hsieh, Enrico Moretti, Ned Resnikoff Organizations: Sun, Orlando, America, —, Companies, Workers Locations: California, New York, Los Angeles, San Francisco, Jacksonville , Florida, Raleigh , North Carolina, Texas , Arizona, Florida, Austin, Raleigh, Charlotte, North Carolina, America's, Nashville, Bay, Tennessee, New York City, San Francisco and New York

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Skechers, Tesla, GameStop, Birkenstock, Valvoline & more
▼ + stars: | 2024-06-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley upgrades Ciena to overweight from equal weight Morgan Stanley sees "upside potential" for the networking company. Morgan Stanley downgrades Pure Storage to equal weight from overweight Morgan Stanley downgraded the stock mainly on valuation. Goldman Sachs downgrades Birkenstock to neutral from buy Goldman downgraded Birkenstock mainly on valuation. Wells Fargo initiates Skechers at overweight Wells said it's bullish on shares of the footwear company. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's possible that Tesla could make a phone.

Persons: Piper Sandler, Piper, it's, Edward Jones, Morgan Stanley, Goldman Sachs, Birkenstock, Goldman, Wells, Wedbush, Needham, HAE, TD Cowen, Cowen, Tesla, Oppenheimer, Salesforce Organizations: Products, Devices, AMD, Paramount, Citi, DAR, Barclays, FI, GameStop, McCormick, Procore Technologies, UBS, Nvidia, hyperscalers, Bank of America, Apple, Fortinet Inc Locations: VVV

☆ Apple will let users opt out of ChatGPT integration. It's a 'brilliant' move to calm mounting AI privacy concerns, analyst says
▼ + stars: | 2024-06-12 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

At the Worldwide Developers Conference on Monday, the company introduced Apple Intelligence, an in-house suite of AI services coming to devices this fall. Starting later this year, Apple users will have free access to OpenAI's ChatGPT model without having to create an account. Advertisement"I think it's brilliant," said Maribel Lopez, an AI analyst and founder of research and strategy consulting firm Lopez Research. AdvertisementThe opt-out ability on Apple devices offers customers a modicum of control amid the coming freight train of AI, Lopez added. Meanwhile, much of the marketing for Apple Intelligence already appears to be focused on safety and privacy protection, with advertisements boasting a "brand-new standard for privacy in AI."

Persons: —, OpenAI, Siri, Apple, Maribel Lopez, Lopez, Sam Altman doesn't Organizations: Service, Worldwide, Apple Intelligence, OpenAI, Business, Apple, Lopez Research, New York Times

☆ Blistering AI demand drives a beat and raise at our other chipmaker Broadcom
▼ + stars: | 2024-06-12 | by ( Jeff Marks | ) www.cnbc.com time to read: +10 min

We view Broadcom as one of the biggest AI beneficiaries through its networking and custom chip businesses. And it's a good thing that Broadcom wants to make its stock more accessible to investors and employees. Broadcom said the spending run rate at VMware was $1.6 billion in the quarter, down from $2.3 billion per quarter pre-acquisition. Outlook Following the strong first half of its fiscal year 2024, Broadcom raised both its revenue and adjusted EBITDA outlook. The positively revised update is above FactSet estimates of $50.58 billion in revenue and $30 billion of adjusted EBITDA.

Persons: Hock Tan, we've, Tan, Jim Cramer's, Jim Cramer, Jim, Broadcom Lucas Jackson Organizations: Broadcom, VMware, Revenue, Club, LSEG, VMWare, Wall Street, Marvell Technology, Devices, Nvidia, Lam, Chipotle, Walmart, Apple, Infrastructure Software, CNBC Locations: Hock

☆ Sam Altman may have just scored a major coup
▼ + stars: | 2024-06-11 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Read previewForget Tim Cook: OpenAI and Sam Altman might be the biggest winners after Monday's announcements at Apple's Worldwide Developers Conference. While Apple announced Apple Intelligence, its in-house artificial-intelligence tool, it also said that Apple users will soon be able to use ChatGPT in Siri through an integration it created with OpenAI. The feature is part of Apple's iOS 18, iPadOS 18, and Sequoia, its computer operating system. Apple's iOS is installed on about 2.2 billion devices, Wedbush Securities estimated in a note on Monday. OpenAI said in a statement that "the ChatGPT integration, powered by GPT-4o, will come to iOS, iPadOS, and macOS later this year.

Persons: —, Tim Cook, OpenAI, Sam Altman, ChatGPT, it's, Craig Federighi, Apple's, Siri, Altman, Google's, Kelsey Peterson, Cook, haven't, macOS, Apple Organizations: Service, Apple's Worldwide, Apple, Apple Intelligence, Business, OpenAI, Wedbush Securities, Washington Post, Google, Safari Locations: Siri, Sequoia, WWDC

☆ 'Best WWDC Ever': Wall Street is pumped up over Apple's AI game plan
▼ + stars: | 2024-06-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Wall Street was definitely impressed by Apple's WWDC event on Monday. Analysts predict AI features will drive significant upgrade cycles for the iPhone 16 and iPhone 17. Here's what Wall Street is saying about Apple's WWDC event. Citi: 'Best WWDC ever'"We believe Apple's WWDC was the best WWDC conference in a long time as it introduced 'AI for the rest of the people," analysts at Citi said. Chatterjee echoed Citi's thoughts that the AI features should drive a massive upgrade cycle for the iPhone over the next two years.

Persons: Apple's, Siri, —, Goldman Sachs, We're, Michael Ng, WWDC, Atif Malik, Samik Chatterjee, Chatterjee, Dan Ives, Ives Organizations: Service, Apple, Citi, Goldman, JPMorgan, Apple Intelligence, Cook

☆ Apple shares pop to record high after company unveils AI software
▼ + stars: | 2024-06-11 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Apple CEO Tim Cook gestures during the annual developer conference event at the company's headquarters in Cupertino, California, U.S., June 10, 2024. Apple shares popped 5% to a new record high of around $203 per share on Tuesday, a day after the company announced its long-awaited push into artificial intelligence at its annual developer conference on Monday. The company pitched the features as AI for the average person, though users will likely need to upgrade their iPhones to access the tools. The company's developer conference came as a welcome sign for investors who have been watching to see how Apple will capitalize on the ongoing AI boom. Analysts from Morgan Stanley said Apple's AI features strongly position the company with "the most differentiated consumer digital agent."

Persons: Tim Cook, Apple, Siri, OpenAI's ChatGPT, Morgan Stanley, iPhones, — CNBC's Michael Bloom Organizations: Apple, Bank of America, Apple Intelligence Locations: Cupertino , California, U.S

☆ CNBC Daily Open: Musk threatens Apple ban
▼ + stars: | 2024-06-11 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Technology stocks Nvidia, Meta and Microsoft boosted the indexes. Apple ban threatElon Musk threatened to ban Apple devices from his companies after Apple announced a partnership with OpenAI. Ailman suggested Musk should focus on one of his ventures and let professional managers handle Tesla's daily operations. The Taiwan Weighted index hit a record high, before paring back gains, as technology and utility stocks rose.

Persons: Elon Musk, Tesla, Goldman Sachs, Musk, Elon Musk's, Chris Ailman, CNBC's, Ailman, CalSTRS, Elliott, paring, Seng, Kospi, Morgan Stanley Organizations: New York Times DealBook, CNBC, Nasdaq, Technology, Nvidia, Meta, Microsoft, Dow Jones, Apple, OpenAI, California State Teachers, Elliott, Southwest, Elliott Management, Southwest Airlines, Boeing, CSI, Nikkei Locations: New York City, U.S, Asia, Taiwan, Pacific

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