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☆ Starbucks and Luckin are in a fight for the global coffee market. I visited both to see how they stack up on price, menu, and vibe.
▼ + stars: | 2024-11-07 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +8 min

Luckin Coffee, which has put up a strong fight against Starbucks in Asia, is looking to the US. The chain is known for its aggressive deals, unusual flavors like a Big Cheese coffee drink, and mobile ordering. Luckin versus StarbucksI started at Luckin Coffee. Aditi BharadeThe most expensive drink on the menu was an Iced Oat Shakerato listed for 8 Singapore dollars, or $6. Representatives for Luckin Coffee didn't respond to a request for comment from BI for this story.

Persons: —, Brian Niccol, Niccol, Luckin, Aditi Bharade, Rachel Ruggeri, Ruggeri, It's, David Yu, Jiang, it's, Tiruchelvam, Yu Organizations: Starbucks, Service, Business District, Staff, Singapore, Luckin, BI, Bros, NYU, Aletheia Capital Locations: Asia, China, Singapore, Beijing, United States

☆ A fast-changing Chinese coffee market awaits Starbucks CEO Brian Niccol
▼ + stars: | 2024-11-01 | by ( Eunice Yoon | ) www.cnbc.com time to read: +4 min

In this article SBUX Follow your favorite stocks CREATE FREE ACCOUNTPeople seen around the Starbucks coffee store in Shenzhen, China. Costfoto | Nurphoto | Getty ImagesThe formerly Nasdaq-listed Luckin Coffee ran into accounting issues and went through a de-listing. Starbucks has an express version of its coffee stores in China called Starbucks Now, where most patrons order drinks on the app for pick up. Competition from everywhereOn top of the Chinese coffee rivals, Starbucks is competing with a host of other local chains on tea. With more and more Chinese wanting a daily java fix, grab-and-go coffee is becoming widely available at tea chains and convenient marts.

Persons: Jakub Porzycki, Brian Niccol, Niccol, CNBC's Andrew Ross Sorkin, Price, Zhang Peng, Auntea Jenny, Mixue, Jenny, Tim Hortons Organizations: Nurphoto, Starbucks, Nasdaq, Shanghai Starbucks, Lightrocket, Getty, KFC Locations: Shenzhen, China, Shanghai, Cotti, Beijing, Luckin, Costa Coffee

☆ Analyst discusses Starbucks' earnings and Luckin Coffee reportedly planning to enter the U.S. market
▼ + stars: | 2024-10-31 | 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 EmailAnalyst discusses Starbucks' earnings and Luckin Coffee reportedly planning to enter the U.S. marketJohn Zolidis of Quo Vadis Capital says new Starbucks CEO Brian Niccol outlined a "credible and exciting plan" for the company, and discusses Luckin Coffee's reported plans to enter the U.S. market.

Persons: Coffee, John Zolidis, Brian Niccol, Luckin Coffee's Locations: U.S

☆ Starbucks CEO pledges to fundamentally change strategy as sales fall for third straight quarter
▼ + stars: | 2024-10-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

"It is clear we need to fundamentally change our strategy to win back customers," CEO Brian Niccol said in a statement. Shares of the company fell 1% in extended trading on Wednesday. The company's global same-store sales fell 7%, fueled by weak demand in the U.S. and China. The company's U.S. restaurants reported same-store sales declines of 6%, fueled by a 10% tumble in traffic. In China, the company's same-store sales plummeted 14% as both traffic and average ticket fell.

Persons: Brian Niccol Organizations: Starbucks, LSEG Locations: U.S, China

☆ China is Starbucks' 2nd biggest market, but sales are slumping. Here's why.
▼ + stars: | 2024-08-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +7 min

Comparable store sales, a key measure for the restaurant industry, were down 14% in its most recent quarter. Sales slumpStarbucks' comparable store sales in China have been incredibly volatile over the past five years. But in recent months, they've been hit by cautious consumer spending and increased competition, then-CEO Laxman Narasimhan told investors in July. Luckin Coffee, Starbucks' biggest rival in China, has nearly three times as many stores as Starbucks in the country after monumental unit growth. "We're not interested in entering the price war," Starbucks China CEO Belinda Wong told investors in January.

Persons: —, Brian Niccol, they've, Laxman Narasimhan, Narasimhan, Sherri, Kearney, Luckin, McCafe, KFC's, Dave Xie, Oliver Wyman, Xie, latte, We're, Belinda Wong, Wong, it's, Brian Yarbrough, Edward Jones, Liu Ying Organizations: Service, Starbucks, Business, Bank of America, Bloomberg, Publishing, Getty, Reuters Locations: China, Beijing, Shanghai, Seattle, Luckin, Cotti, Xinhua

☆ Consumer giants from Starbucks to General Mills have one big sales problem: China
▼ + stars: | 2024-08-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. "Consumer sentiment in China is quite weak," McDonald's chairman, CEO and director Christopher Kempczinski, said of the quarter ended June 30. Apple said Greater China sales fell by 6.5% year-on-year in the quarter ended June 29. Procter and Gamble said China sales for the quarter ending late June fell by 9%. The only public disclosures regarding Peet's China business described it as "strong double-digit organic sales growth" in the first half of the year.

Persons: —, Christopher Kempczinski, McDonald's, Lei Meng, Apple, Johnson, that's, General Mills, Kofi Bruce, Mills, Andre Schulten, Procter, Gamble, Schulten, Marriott's, Domino's, DPC Dash, There's, James Quincey, Quincey, We've, Laxman Narasimhan, Luckin Organizations: Nurphoto, Getty, BEIJING, U.S, Nationwide, UBS Securities, General, Procter, Marriott, Asia Pacific, Starbucks Locations: Yichang, Hubei province, China, U.S, Canada, Greater China, Southeast Asia, Japan, South Korea, Asia, Peet's

☆ Chinese companies are setting up shop anywhere but China — and the US
▼ + stars: | 2024-06-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Chinese companies like social media giant TikTok and IT giant Lenovo are already globally competitive behemoths with compelling products. Admittedly, it's not a new move for Chinese companies to invest outside of China. Related storiesThis means Chinese companies will set up facilities overseas under their own brand or subsidiaries. In 2022, the German government blocked Chinese companies from taking stakes in two German chip companies, citing national security concerns and concerns over technology transfer. But even in today's complex geopolitical environment, Chinese companies are expected to continue venturing away from home, per EY.

Persons: —, Chris Pereira, it's, It's, Pereira, Loletta Chow Organizations: Service, Lenovo, Chery, Business, Intelligence, EV, US, EY, EY China Overseas Investment Network, & $ Locations: China, New York, Asia, New York City, Swiss, Southeast Asia, Europe, Africa, America, Qatar, Spain, Norway, EY China

☆ China's gold rush shows the Chinese still have money to spend — they're just not into Starbucks or Gucci
▼ + stars: | 2024-05-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

It also reflects that there's money in the system — but Chinese consumers are just really not that keen on dropping their hard-earned cash at Starbucks or Gucci. China's demand for gold jewelry softened in the first quarter of this year due to the surge in gold prices but was still holding up well, according to the council. Gen Z Chinese consumers ditch luxury for goldUnlike the rush into gold assets, Chinese consumers are not running out to buy even more stuff, particularly foreign imports. China's savings rate was around 32% last year — compared to around 4% in the US, according to a McKinsey analysis of official data. "Chinese households are increasingly confronted by the weak long-term Chinese growth outlook and the slumping prices in China's residential real estate market," said Biswas.

Persons: —, Rajiv Biswas, Gen, LVMH Moët Hennessy Louis Vuitton, Gucci, Yves Saint Laurent, Laxman Narasimhan, Nomura, Lynn Song, Jean, Jacques Guiony, Biswas, McKinsey Organizations: Service, Gucci, Business, World Gold, Bloomberg, Starbucks, Huawei, Nomura, ING, McKinsey Locations: Japan, China, American, Greater China

☆ Apple, Tesla and Starbucks struggle in China’s economic slump after making a fortune for decades
▼ + stars: | 2024-05-13 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —For decades, Western companies made a fortune betting on the inexorable rise of the Chinese consumer. Now an economic slump and the emergence of ferocious local competitors means those bets look less safe as price wars erupt. Tesla’s China market share shrank to 4% in April, almost halving from 7.7% in March, according to data released by the China Passenger Car Association on Friday. In the 1990s, “every company in the West” was hiring consultants and having boardroom meetings about how to do more in China, according to Stevenson-Yang. He added that he continues to feel optimistic about the Chinese market in the long term.

Persons: ”, Anne Stevenson, Yang, Stevenson, aren’t, Yang Wang, Kevin Frayer, Tim Cook, iPhones, Cotti, Luckin, Belinda Wong, “, McDonald’s, Wallace Organizations: Hong Kong CNN, China Passenger Car Association, J Capital Research, EV, Apple, Starbucks, Counterpoint Research, Macao —, Huawei, China Academy of Information, Communications Technology, Luckin Coffee, McDonalds, KFC, Burger Locations: China, Hong Kong, Shanghai, United States, Germany, Brazil, Beijing, Greater China, Taiwan, Macao, Starbucks China, Dominos, India

☆ How previous investing mistakes are shaping my thinking on the latest stock gone wrong
▼ + stars: | 2024-05-05 | by ( Jim Cramer | ) www.cnbc.com time to read: +19 min

Three times a day we would gather "off the desk," and I would have to defend every stock we owned. First, there's the obvious mistakes that we have made: Bausch Health and Foot Locker . To signify the changes, he renamed it Bausch Health in 2018, after the eye-care company Valeant bought for $8.7 billion five years earlier. We thought the IPO market would come back, and Bausch Health would win the lawsuit and all would be back on track. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jeff Marks, Karen Cramer, Cramer, Karen, Max Palevsky, It's, Joseph Papa, Clint Eastwood, Papa, Jim Cramer, Valeant, Bausch, Locker, Mary Dillon, Dillon, Wall, Emerson, Cristiano Amon, Laxman Narasimhan, Howard Schultz, Narasimhan, Benckiser, Kevin Johnson, Schultz, Johnson, it's, —, Foot Locker, Jim Cramer's, Jim Organizations: Cramer &, Intel, Charitable Trust, Co, Starbucks, Bausch Health, Pharmaceuticals, Perrigo, Health, Norwich Pharmaceuticals, Former, Emerson Electric, Qualcomm, National, Eaton Corp, Broadcom, Palestine, PepsiCo, Nestle, Elliott Management, Emerson, CNBC, Getty Locations: China, —, Israel, U.S, BHC, FL, Jinan, East China's Shandong province

☆ Young Chinese are trading Shanghai for small cities. Brands like KFC are following them with thousands of stores.
▼ + stars: | 2024-04-23 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . They're struggling to make it in big cities as the world's second-largest economy suffers from a flailing property market and slow post-pandemic consumption recovery. Going big on smaller citiesChina's smaller cities aren't exactly an untapped market. KFC and Pizza Hut operator Yum China, which plans to add 6,000 stores in China by 2026, is also betting big on small cities. AdvertisementThe cost of living crisis driving young people out of China's big cities is a trend that echoes across continents.

Persons: —, MetroDataTech, They're, Joey Wat, DPC, Canyandata Organizations: Migrants, Service, KFC, Bloomberg, Starbucks, Yum Locations: megacities, Shanghai, Shenzhen, MetroDataTech, China, Beijing, —, Yum China, Local, Fuzhou, Korea, New York City, London

☆ Cramer says Apple stock could fall another 5% from here. He also has no plans to sell it
▼ + stars: | 2024-03-05 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

We knew Apple's China market wasn't great. Jim Cramer said the stock could fall another 5% to $160 in its current run of bad form. Jim also maintained his "own it, don't trade it" Apple mantra because the stock is "one of the greatest performers of all times." Apple shares have shed roughly 14.5% from their all-time high of $199.62 each and nearly $3.1 trillion market value on Dec. 14, 2023. The CEO said Apple AI tech is already being used in the Vision Pro mixed reality headset's hand-tracking tool.

Persons: there's, Jim Cramer, Jim, we've, Tim Cook, we're, Cook, Cook's, Jim Cramer's Organizations: Apple, Research, Huawei, Starbucks, European, Big Tech, Barclays, Vision, Management, CNBC Locations: China

☆ In China’s battle of the lattes, Luckin Coffee keeps beating Starbucks
▼ + stars: | 2024-02-26 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Luckin, which already calls itself China’s biggest coffee chain, says it had surpassed Starbucks in mainland China by number of outlets in 2019. By the end of 2023, Luckin had 16,218 stores in China, nearly double its 2022 count of more than 8,200. Starbucks’ outlets in China are entirely company-owned. The number of branded coffee shops in China jumped 58% in the past twelve months, reaching 49,691 outlets, according to a December report by World Coffee Portal. Making a comebackBy 2019, the company had outnumbered Starbucks stores in China, with more than 4,500 outlets, according to the company.

Persons: Luckin, ”, Jinyi Guo Organizations: Hong Kong CNN, Nasdaq, Starbucks, CNN, International Coffee Organization, Daxue Consulting, Visual China, Centurium, US Securities and Exchange Commission Locations: China, Hong Kong, Singapore, Xiamen, United States, Beijing, New York, American

☆ Starbucks launched a pork-flavored coffee in China. It costs $10 and is dividing people.
▼ + stars: | 2024-02-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Starbucks has launched a pork-flavored coffee in China. The Seattle-based coffee giant recently rolled out a pork-flavored latte in China for the Chinese New Year season that started on February 10. The pork-flavored coffee has gone viral on Chinese social media — mostly because people were wondering if it's for real. The Starbucks beverage is far more expensive than rival Luckin Coffee, which can cost as little as $1.40 thanks to aggressive discounts. Sales of Luckin Coffee overtook Starbucks in China in the second quarter of last year.

Persons: —, Savory Latte, Lucky Savory Latte, Instagram, Luckin Organizations: Starbucks, Service, Business Locations: China, Seattle, Shanghai, Starbucks China, Hong Kong

☆ How 3 stocks are navigating the economic tug-of-war between the U.S. and China
▼ + stars: | 2024-02-21 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Just consider three core holdings in the portfolio: Apple , Starbucks , and Nvidia . Nvidia generates 21% of its overall revenue from Mainland China, while Apple gets 19%, and Starbucks 9%. Xiamen-based Luckin Coffee, for example, overtook Starbucks in market share in China during 2023, with double the retail locations there. However, Nvidia still dominates the AI chip market in China, and it's difficult to see its rivals catching up anytime soon. The company has twice re-engineered chips for the Chinese market to comply with U.S. rules.

Persons: Joe Biden's, Xi Jinping, Oppo, Jefferies, Tim Cook, Laxman Narasimhan, Tencent, Jim Cramer's, Jim Cramer, Jim Organizations: U.S, Apple, Nvidia, Starbucks, Competition, Huawei, International Data Corporation, IDC, CNBC, Luckin, China, Management, Tech Locations: China, Beijing, Washington, U.S, Mainland China, People's Republic, India, Xiamen

☆ Starbucks releases pork flavored coffee in China for Lunar New Year
▼ + stars: | 2024-02-20 | by ( Jessie Yeung | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Who doesn’t like a little braised pork with their coffee? Starbucks (SBUX) is betting on that unusual combination with a new drink released in China to mark the Lunar New Year. The drink combines Dongpo Braised Pork Flavor Sauce with espresso and steamed milk, with extra pork sauce and pork breast meat for garnish, according to the Starbucks delivery app. And while the foods served at New Year feasts vary by region, braised pork makes a frequent appearance. The Starbucks pork latte has quickly gained traction on Chinese social media, with the topic viewed more than 476,000 times on Weibo by the time of publishing.

Persons: Savory Latte, Su Dongpo, it’s, “, ” Organizations: Hong Kong CNN, Shanghai Starbucks Reserve, Starbucks Reserve, United, Starbucks, Luckin, Shanghai, Weibo Locations: China, Hong Kong, Weibo, Asia, People, United States, Wuhan

☆ Starbucks earnings disappoint as sales outside the U.S. lag
▼ + stars: | 2024-01-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

A Starbucks coffee cup sits on a table at one of the coffee chain's locations in Miami, Florida, on June 11, 2021. Starbucks on Tuesday reported quarterly earnings and revenue that missed Wall Street's expectations as both domestic and international sales fell short of estimates. In North America, same-store sales also rose 5%, driven largely by customers spending more on their drinks and food. Outside of Starbucks' home market, the coffee chain reported international same-store sales growth of 7%, missing expectations of 13.2%. China, the company's second-largest market, reported same-store sales growth of 10%.

Persons: Laxman Narasimhan Organizations: Starbucks, LSEG, Revenue Locations: Miami , Florida, North America, China

☆ China’s youths throng bargain basements as economy bites: ‘The first floor is too expensive’
▼ + stars: | 2023-12-06 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Future Publishing | Future Publishing | Getty ImagesMin Li doesn't go to the mall often. The name of the game for Chinese youth in 2024 is trading down. Anything not in the basement floors is considered to be "in heaven," signaling it's out of reach. Citizens shopping for Mid-Autumn Festival gifts at a shopping mall in Yantai, East China's Shandong province, Sept 25, 2023. (Photo credit should read CFOTO/Future Publishing via Getty Images) Future Publishing | Future Publishing | Getty Images"The name of the game for Chinese youth in 2024 is trading down.

Persons: Min Li doesn't, Gucci, Chanel, Louis Vuitton, She's, Shaun Rein, Rein, Jia Miao, Jia, Chung Chi, Miao Organizations: Future Publishing, Getty, Apple, China Market Research Group, Starbucks, China Market Research, Weibo, Citizens, Publishing, New York University Shanghai, MyCOS Research, NYU Shanghai, Hong Kong Polytechnic University, McKinsey, China's, China News Service Locations: Yantai, East China's Shandong province, Weibo, East China's Shandong, Covid, NYU Shanghai China, Shanghai, Guangzhou

☆ An afternoon at the popular Chinese coffee chain that should be making Starbucks very, very nervous
▼ + stars: | 2023-11-24 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +7 min

A Chinese coffee chain called Luckin Coffee recently overtook Starbucks in China, beating the international coffee chain in sales in the second quarter of 2023, the Wall Street Journal reported on Sunday. Founded in Beijing in 2017, Luckin Coffee has staged a dramatic turn-around. AdvertisementCurious to see whether Luckin could live up to its Starbucks-killer hype, I headed over to a Luckin Coffee in Singapore's central Chinatown neighborhood on Thursday afternoon. Luckin Coffee and Starbucks did not respond to my requests for comment for this story. Ordering my coffee was machine-like: technical, efficient and impersonalA typical ordering experience on the Luckin Coffee app means you'll never have to interact with a human.

Persons: —, Luckin, Kai Xiang Teo, he'd, weren't, Amanda, didn't dally, Esther, I've, Jeremy Organizations: Service, Starbucks, Wall Street, Google, Singapore Locations: China, Beijing, China . Singapore, Singapore's, Chinatown, Luckin, Singapore, Hong Kong

☆ Starbucks remains a big winner in China even if a domestic rival sells more coffee there
▼ + stars: | 2023-11-20 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Starbucks (SBUX) losing its coffee crown in China to a domestic rival does not diminish the opportunity that the American company has in the world's second-largest economy. 2 in China to Luckin Coffee in sales, Jim Cramer said Monday he would be buying Starbucks shares "hand over fist." In its fiscal fourth quarter ending Oct. 1, Starbucks reported that China revenue increased 8% year-over-year to nearly $841 million. By comparison, Luckin reported sales of $986.8 million for its third quarter ended Sept. 30 . SBUX YTD mountain Starbucks YTD Even though its economy and consumers face headwinds post-Covid, China remains a key growth market for Starbucks.

Persons: Jim Cramer, Jim, Luckin, Laxman Narasimhan, Howard Schultz, Jim Cramer's Organizations: Starbucks, Journal, China, CNBC, Wuhan International Plaza, Getty Locations: China, U.S, Wuhan, Hubei province

☆ Why investors should buy these fixer-upper names, while sticking with 3 that are set to soar
▼ + stars: | 2023-10-11 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Oracle Oracle (ORCL) stock has been sliding for some time, with shares down 14% over the past month, even as the stock has climbed more than 33% this year. He added that this is a great level at which to buy Oracle stock. And here are three Club names that need no work, and are well-positioned to soar: Caterpillar Caterpillar (CAT) has weathered the market's volatility well. TJX Companies This is TJX Companies ' (TJX) time to shine, as the off-price retailer has the best business model to capture the spending of a cash-strapped consumer. 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, Walt Disney, Jim, Disney's, Nelson Peltz, Laxman Narasimhan, There's, Larry, Ellison, it's, we're, TJX, Eli Lilly Eli Lilly, Mounjaro —, Jim Cramer's, Angela Weiss Organizations: Nasdaq, Treasury, Club, Disney, Walt, ESPN, Comcast, Hulu, CNBC, Starbucks, U.S, Oracle Oracle, Oracle, Caterpillar Caterpillar, Caterpillar, Traders, New York Stock Exchange, AFP, Getty Locations: NBCUniversal, China, U.S, Maxx, New York City

☆ Here's why Jim Cramer believes that fears about Starbucks in China are overblown
▼ + stars: | 2023-09-22 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. 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, Stocks, Jim Cramer's, Jim, Shawn Fain, Ford Organizations: CNBC, Nasdaq, Dow, Treasury, U.S, Texas, Starbucks, United Auto Workers, General Motors, Club, Ford, UAW, GM Locations: China, Seattle, Shanghai

☆ Starbucks has wrongly become a hated stock, Jim Cramer says
▼ + stars: | 2023-09-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

Starbucks (SBUX) has wrongly become a "hated stock," amid concerns about the coffee chain's growth opportunities in China, CNBC's Jim Cramer said Thursday. "I think that's a mistake to hate it," Cramer said on "Squawk on the Street." If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. One overhang on the stock over that stretch has been its bet on China, a key growth market for the company. "I've not seen anything that indicates Starbucks is being hurt in China," Cramer said Thursday, adding that he's less worried than others about the growth of local rival chains, such as Luckin Coffee.

Persons: CNBC's Jim Cramer, Cramer, Jim Cramer's, I've, It's Organizations: Starbucks, Trust, CNBC, Club Locations: China, Seattle

☆ China's AI applications are coming — where it matters for monetization
▼ + stars: | 2023-09-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Around the same time, Tencent announced it is integrating its AI model into advertising content creation, and its own Zoom-like video conferencing app. It's also not clear how powerful China's AI applications currently are, beyond demos and select business partnerships. "Overall we see generally Chinese language model[s] still lag behind the most advanced ChatGPT version 4," CLSA's Tony Zhang said in a phone interview in the last week. Now with Beijing's green light, public-facing AI applications such as Baidu's Ernie bot can be widely used in China. Generative AI and large language model-related revenue contributed to 20% of SenseTime' s revenue in the first half of 2023, Nomura analysts said, citing company management.

Persons: Nomura, Tencent, Coffee, Luckin, Joey Wat, It's, Tony Zhang, –, Ernie, Oliver Wyman's David Xie Organizations: Baidu, KFC Locations: Beijing, China, Taobao, TikTok

☆ CNBC Daily Open: High yields posed no threat to the tech rally
▼ + stars: | 2023-09-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Nasdaq Composite rallied, buoyed by tech stocks. More than luck to surpass StarbucksAsk any American to think of the most common coffee chain, and chances are they'd mention Starbucks. A combination of its franchise model, low pricing and self-operated stores helped a coffee chain founded in 2017 surpass an established brand.

Persons: Wall, JPMorgan Chase, Jamie Dimon, it'd, Dimon, Cristiano Amon, he's Organizations: CNBC, Nasdaq, Japan's Nikkei, Garden Holdings, JPMorgan, Qualcomm Qualcomm, Apple, UBS, Starbucks, Apple Apple Locations: Munich, Germany, Asia, Pacific, U.S, Ukraine, China

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