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☆ Apple on pace for best day since 2022 after earnings beat, $110 billion stock buyback
▼ + stars: | 2024-05-03 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Apple shares popped more than 6% on Friday morning after the company reported better-than-expected second-quarter earnings and the largest-ever stock buyback program. If the gains hold until the market closes, it will be the best day for Apple shares since Nov. 30, 2022. The iPhone maker announced on Thursday it would repurchase $110 billion of its shares, the biggest buyback in U.S. history, surpassing Apple's prior repurchases. But overall sales decreased 4% and iPhone sales dropped 10% year over year during the quarter, indicating flagging demand for the smartphone's latest generation. Apple CEO Tim Cook told CNBC that quarterly sales suffered from a difficult comparison to the year-earlier period.

Persons: Tim Cook, Morgan Stanley, CNBC's Michael Bloom Organizations: Apple, CNBC, Bank of America, JPMorgan Locations: Mainland China, iPads, China

☆ Apple remains Buffett's biggest public stock holding, but his thesis about its moat faces questions
▼ + stars: | 2024-05-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +9 min

That's about four times bigger than Berkshire's second-biggest public stock holding, Bank of America , and makes the company the No. The bet on Apple and CEO Tim Cook has paid off handsomely for Buffett, who said in 2022 that the cost of Berkshire's Apple stake was only $31 billion. "So I called up Warren Buffett. "It's kind of more like an annuity and I think that's what Warren Buffett really sees as well." "When I buy Apple, I know that Apple is going to repurchase a lot of shares," he said in 2018.

Persons: Tim Cook, Warren Buffett, Berkshire Hathaway, behemoth, Buffett, He's, Cook, Apple, Warren, Ted Weschler, it's, Dan Eye, Buffett hasn't, Bernstein, Toni Sacconaghi didn't, Sacconaghi, Clayton Organizations: Warren Buffett Getty, CNBC, Berkshire, Apple, Bank of America, Buffett, Consumer Intelligence Research Partners, iPhone, Washington Post, Oracle, Fort Pitt Capital Group, Microsoft, The, Apple Watch, DOJ, Clayton Homes Locations: Omaha , Nebraska, Berkshire, Omaha, Cupertino , California, U.S

A video showing the aftermath of the strike that killed Shahed captured her sprawled on the ground next to her friends, her pink pants impossible to miss. Every time she came in, she said, ‘Mom.’ I would say, ‘My soul, my soul,’” Awda Talla told CNN. An analysis of the site of the attack, documented by a freelance journalist working for CNN in Gaza, paints a very different picture of Israeli military responsibility. Israeli military’s shifting responseCNN has pressed the Israeli military for details about the strike, which took place on April 16 at about 3:40 p.m., according to video evidence. The Israeli military declined to provide any additional evidence to back up its claims.

Persons: Mona Awda Talla, Shahed, Awda Talla, ’, Chris Cobb, Smith, It’s, ” Cobb, “, Shahed’s, Chris Lincoln, Jones, Cobb, –, Maghazi, ” Mahmoud Beha Abdel Lattif, I’m, ”, —, ” Sama, Ahmed Abu Jayyab Organizations: CNN, ”, British Army, CNN CNN, Artillery, Armament Research Services, Israel Defense Forces, IDF Locations: Gaza’s Al, Gaza, Israel, Israeli, Shahed, British, Al, Aqsa

☆ Apple can't tell you iPhone sales are booming, so it's talking about 'services.' That's a problem.
▼ + stars: | 2024-05-02 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

It didn't boast about iPhone sales, which declined. AdvertisementApple had a great second quarter, Apple says: The company hit an "all-time revenue record in Services," the company reports. And if you head over to the company's financials, you can see why: iPhone sales dropped by 10% in the last three months. Prior to Thursday's earnings, analysts had fretted that Chinese iPhone sales were soft, but on Thursday afternoon, Cook told CNBC that iPhone sales in China were up. AdvertisementAnd, as we've been pointing out repeatedly, Apple's App Store rules are under increasing pressure from regulators around the world — and in the EU in particular.

Persons: —, Cook, I've, it's Organizations: Apple, Service, CNBC, Google, US Department Locations: China, EU

☆ Apple's China sales in focus ahead of earnings
▼ + stars: | 2024-05-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +5 min

In February, Apple said it expected sales similar to last year's $94.84 billion during the same period and flat iPhone sales. In the December quarter, sales dropped 13% in Greater China, which includes Hong Kong and Taiwan. Analysts polled by FactSet expect $15.25 billion in China regional sales, which would be a 14% year-over-year decline. "In strong iPhone cycles, Apple's China revenues typically grow much faster than Apple overall, as Chinese consumers embrace the new phone," Sacconaghi wrote. Meanwhile, state statistics show iPhone sales falling 33% in February, the second consecutive month of declining shipments.

Persons: Tim Cook, Deirdre O'Brien, Apple, AAPL, Bernstein, Toni Sacconaghi, Sacconaghi, David Vogt, Aaron Rakers, There's, Morgan Stanley, Erik Woodring, Woodring Organizations: Apple, Analysts, FactSet, Huawei, Chinese Communist Party, Counterpoint Research, UBS Locations: China, Greater China, Hong Kong, Taiwan, repurchases

☆ Apple Reports Decline in Sales and Profit Amid iPhone Struggles in China
▼ + stars: | 2024-05-02 | by ( Tripp Mickle | More About Tripp Mickle | ) www.nytimes.com time to read: +1 min

Apple said sales fell 4 percent to $90.8 billion for the three months that ended in March. Revenue from iPhones, iPads and wearables like the Apple Watch declined from the same quarter last year, while sales of software and services rose. Apple’s struggles were most worrisome in China, the world’s second-largest smartphone market, where sales fell 8 percent. Last quarter, Apple’s share of smartphones sold in China fell 4 percent, according to Counterpoint, a technology research firm. Shares of Apple rose 6.5 percent because the results slightly exceeded Wall Street predictions for quarterly sales and profit and were better in China than feared.

Persons: Apple’s, Trump Organizations: Apple, Justice Department, Revenue, Apple Watch, Huawei Locations: iPhones, China

☆ Court documents reveal Google's payments to Apple increased to an eye-watering $20 billion
▼ + stars: | 2024-05-02 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Alphabet paid Apple $20 billion in 2022 to remain Safari's default search engine, court documents show. That's a $2 billion increase compared to the reported amount Google paid Apple in 2021. AdvertisementThe price to be the default search engine on iPhones, iPads, and Macs has apparently gone up. That's at least $2 billion more than the reported price it paid Apple in 2021. Google reportedly paid Apple around $18 billion in 2021, surpassing a billion dollars every month, according to court documents.

Persons: — Organizations: Apple, Google, Service, US Department, Business

☆ Qualcomm gives better-than-expected revenue forecast as company pushes AI-powered smartphones
▼ + stars: | 2024-05-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported second-quarter earnings on Wednesday that surpassed Wall Street expectations, and provided a strong guide for the current quarter. Qualcomm said it expected between $8.8 billion and $9.6 billion in sales in the current quarter, higher than Wall Street expectations of $9.05 billion. Analysts were looking for earnings guidance of $2.17 per share, versus the company's forecast of between $2.15 and $2.35. Qualcomm called out strong demand for "premium tier" smartphones that require the most advanced chips, especially in China. Qualcomm said that revenue from Chinese phone makers increased 40% on an annual basis during the quarter.

Persons: Cristiano Amon, Amon, — Organizations: Qualcomm Locations: Las Vegas , Nevada, iPhones, China

☆ Some iPhone users say their alarms haven't been going off lately — here's what to do about it
▼ + stars: | 2024-05-01 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

If you didn't hear your iPhone alarm go off lately, it might not have just been you oversleeping. Some iPhone users say their alarms haven't been sounding recently. Apple is reportedly working on a fix, but for now here's what you should check in your settings. AdvertisementIf you slept through your iPhone alarm recently, it might not have necessarily been your fault. Some iPhone users say their alarms haven't been working lately, taking to social media to vent — with some saying they were late to work or school after multiple alarms they'd set didn't go off.

Persons: —, Apple, there's Organizations: Apple, Service

☆ 'Tough near-term setup': Here's what Wall Street expects from Apple's 2nd-quarter earnings
▼ + stars: | 2024-05-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

Investors are focused on Apple's iPhone sales in China as competition ramps up. Here's what Wall Street expects from Apple's upcoming earnings report. Here are the quarterly figures Wall Street expects, according to data from Bloomberg. Here's what Wall Street analysts are saying about Apple's upcoming earnings report. The firm said Wall Street estimates on Apple are too high, with analysts underestimating the ongoing weakness in China.

Persons: —, Wells, Wells Fargo, shouldn't, Goldman Sachs, underwhelming Organizations: Apple, Investors, Service, Bloomberg, Revenue, Huawei, Barclays, Better, JPMorgan Locations: China, Wells Fargo, Wells, C1Q, Apple's

☆ Bernstein says 'be like Buffett' and buy Apple shares while they are cheap, upgrades to outperform
▼ + stars: | 2024-04-29 | by ( John Melloy | ) www.cnbc.com time to read: +5 min

Bernstein upgraded shares of Apple on Monday, saying they had fallen too far on fears of sluggish iPhone 15 sales and overall weak revenue in China. Bernstein upgraded Apple to outperform from market perform and kept its $195 price target, representing 15% upside from here. Sacconaghi's upgrade note, which he titled, "Buy the fear," comes before Apple reports earnings Thursday evening. Bernstein also cites that history shows it pays to buy Apple shares in the three months ahead of a new iPhone launch, noting that the stock has outperformed in 15 of those past 17 periods. Bernstein upgraded Apple to outperform from market perform and kept its $195 price target, representing 15% upside from here.

Persons: Bernstein, Buffett, Warren Buffett, Toni Sacconaghi, Berkshire Hathaway, YTD Bernstein, David A, CNBC Bernstein Organizations: Apple, Berkshire, Berkshire Hathaway, Grogan, CNBC Locations: China, Berkshire, Omaha , Nebraska

☆ 12 portfolio companies report earnings in the week ahead. What we want to hear from each
▼ + stars: | 2024-04-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.

Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York

☆ Intel used to dominate the U.S. chip industry. Now it's struggling to stay relevant
▼ + stars: | 2024-04-26 | by ( Kif Leswing | ) www.cnbc.com time to read: +16 min

David Paul Morris | Getty Images News | Getty ImagesThe iPhone could have had an Intel chip inside. It would've made sense to use Intel chips, which ran on the best desktops at the time, including Apple's Macs. Braithwaite, who worked at Intel in the 1980s, said Intel's process engineers were the company's "crown jewels." Intel doesn't have a GPU competitor to Nvidia's AI accelerators, but it has an AI chip called Gaudi 3. For comparison, AMD expects about $2 billion in annual AI chip revenue.

Persons: Pat Gelsinger, Seth Wenig, Gelsinger, Biden, Nicholas Braithwaite, Akshara Bassi, It's, Steve Jobs, David Paul Morris, Apple, Paul Otellini, Walter Isaacson's, Otellini, Isaacson, Jobs, Apple didn't, Apple —, TSMC, Mikako Kitagawa, Joe Biden, Brendan Smialowski, Braithwaite, Gordon Moore, Moore's, Brian Krzanich, 7nm —, TSMC didn't, Jensen Huang, Josh Edelson, OpenAI, Gaudi, Intel's, it's, Bassi, CNBC's Jon Fortt Organizations: Intel, Taiwan Semiconductor Manufacturing Company, Nvidia, Micro Computer, Qualcomm, Broadcom, Texas Instruments, AMD, Apple, Celesta, Meta, Microsoft, Getty, Samsung, Gartner, Asus, AFP, Semiconductor, Engineers, SAP Center, Afp, Companies, Blackwell, Habana Labs, Gaudi, FactSet, U.S Locations: New York, American, U.S, Chandler , Arizona, California, San Jose , California, Taiwan, Columbus , Ohio

The last time new iPads were released was in 2022, when some models got a refresh, including a standard 10th-generation iPad and iPad Air and Pro models. AdvertisementNew iPad Pros with OLED displaysThe expected upcoming iPad Pros could be quite a significant update. At the same time, OLED displays could hike the minimum price even further for the iPad Pro models, which are already the most expensive devices among the best iPads, starting at $799. The iPad Air has only been available in a 10.9-inch model to this point. The whole package could make the iPad Pro and Magic Keyboard combination look similar to a Mac laptop.

Persons: Bloomberg's Mark Gurman, Gurman, Antonio Villas Organizations: Business, Apple, Air, Boas

☆ Bond auctions are a bigger deal than usual this week. The first went the way of the bulls
▼ + stars: | 2024-04-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Treasury yields dip: In addition to earnings, the other part of the market's gauntlet this week is a trio of huge Treasury auctions. The PMI data was softer than expected, confirming signs of the economic "brown shoots" that Jim Cramer has recently been flagging. 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, Jim, Jim Cramer's Organizations: CNBC, Nasdaq, Dow Jones, Treasury, P Global, PMI, Federal, Amazon, Foods, Apple, Developers, Tesla, Enphase, Texas, Boeing, Boston Scientific, Otis Worldwide, Jim Cramer's Charitable Locations: Enphase Energy, Humana

☆ Apple iPhone sales drop 19% in China as demand for Huawei smartphones soars, research says
▼ + stars: | 2024-04-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

TOPSHOT - The Apple iPhone 15 series is displayed for sale at The Grove Apple retail store on release day in Los Angeles, California, on September 22, 2023. (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)Apple's iPhone sales dropped sharply in China in the first quarter of this year as the company saw strong competition from domestic brand Huawei, according to a new report from market research firm Counterpoint Research. Apple saw sales of its iPhones fall 19.1% in the first three months of the year, Counterpoint's data showed, as Chinese telecommunications and consumer electronics giant Huawei saw a resurgence in its smartphone business. The Shenzhen, China-based firm saw sales of its smartphones surge a whopping 69.7% in the first quarter, Counterpoint said. Starting in 2019, the U.S. slapped sanctions on Huawei in an effort to stop it from accessing such technology, nearly wiping out Huawei's smartphone business.

Persons: Patrick T, Fallon, PATRICK T, FALLON Organizations: Apple, Grove Apple, Getty, Huawei, Research Locations: Los Angeles , California, AFP, China, Shenzhen, U.S

Monday's analyst calls included a price target cut for one of the biggest tech companies in the world and Goldman Sachs getting bullish on an e-commerce giant ahead of earnings. Morgan Stanley cut its price target on Apple to $210 from $220, citing the potential for disappointing fiscal third-quarter guidance. 6:50 a.m.: Morgan Stanley remains bullish on Nvidia even after chipmaker's sell-off The recent slump in artificial intelligence-related stocks hasn't steered Morgan Stanley away from Nvidia . Sheridan kept his buy rating and $220 price target on Amazon, which is expected to post its earnings results on April 30. Analyst Erik Woodring reiterated his overweight rating on the tech giant but cut his price target to $210 from $220.

Persons: Goldman Sachs, Morgan Stanley, Goldman, Joseph Moore, Moore, — Pia Singh, shouldn't, Wamsi Mohan, Mohan, Benjamin Swinburne, Swinburne, Eric Sheridan, Sheridan, Erik Woodring, Woodring, Fred Imbert Organizations: CNBC, Apple, Nvidia, NVIDIA, Bank of America, Spotify, Amazon, Services Locations: North America

☆ Why Apple is betting big on India
▼ + stars: | 2024-04-22 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +26 min

I think one estimate put, at one point, I think China was producing something like 90% of the world's iPhones. So when we talk about, you know, Apple manufacturing elsewhere, it's going take a long time to significantly ramp up iPhone production elsewhere. And you know, opening a physical Apple store often for Apple is a sign of a big deal. But you know, Apple looking at India going, wow, we've only got 7% of market share there, we could grow huge amounts. And of course, as we know, with Apple, the hardware is the, you know, one side of the equation, but also, you know, Apple makes billions of dollars off of its services business, which includes things like its App Store fees, it's Apple Pay, Apple TV, all of those other products and services.

Persons: Tim Cook, Apple, it's, It's, Tom Chitty, we've, Arjun Kharpal, Arjun, they're, let's, hasn't, We've, they've, Apple's, that's, we're, There's, Narendra Modi, Arjun Kharpal It's, Tom Chitty Huawei, Kharpal Huawei, Tim Cook's, I've, haven't, He's, They've, Arjun Kharpal There's, Tom Chitty Oppo, Tom Chitty Xiaomi, Tom Chitty Samsung, You've, They're, Transsion, Tom, Tom Chitty I'm, Kharpal, Tom Chitty We'll Organizations: Apple, Bloomberg, CNBC, U.S, Arjun Kharpal It's Samsung, Samsung, China, Apple Watch, Huawei, IDC Locations: India, Foxconn, China, beyondthevalley@cnbc.com, Covid, Zhengzhou, Vietnam, Asia, Thailand, Indonesia, Southeast Asia, Mumbai, New Delhi, Xiaomi, Europe, U.S, Arjun Kharpal Vietnam, Hanoi , Vietnam, Hanoi, Taiwan, Beijing, America, Africa, The

☆ TSMC's stalled Arizona chip factory is 'well on track' to start production next year — and it'll be charging more for US-made chips
▼ + stars: | 2024-04-19 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Last year, Taiwan Semiconductor Manufacturing Company reported its first profit decline in four years. The company said engineering wafer production began at the factory in April, an important step toward the eventual chip production. Last July, TSMC announced that chip production for the first factory would be postponed from 2024 to 2025. Barring further setbacks, TSMC's update could mean the first factory will begin production of chips in 2025. This funding could be particularly important for TSMC, given the cost of factory construction and chip manufacturing can differ between the US and Taiwan.

Persons: —, TSMC, Biden, Joe Biden, — TSMC, Dylan Patel, SemiAnalysis, that's, Morris Chang, C.C, Wei Organizations: Service, Taiwan Semiconductor Manufacturing Company, Business, Biden, Financial Times Locations: Taiwan, Arizona, Phoenix, Japan, Germany

☆ Huawei just gave Tim Cook a new headache in China
▼ + stars: | 2024-04-19 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

AdvertisementTim Cook would like you to think everything is going swimmingly for Apple in China. It's already won over some consumers since launching the Mate 60 Pro series last year. The Huawei Mate 60 rivals the latest iPhone. They expect another decline in iPhone sales in the region in Apple's quarterly earnings on May 2. Cook might be putting on a brave face, but iPhone sales in China may keep sliding if Huawei has its way.

Persons: —, Tim Cook, Cook, there's, It's, They're, Wang Gang, Ivan Lam, Apple Organizations: Apple, Huawei, Service, Bund, Counterpoint Research, Publishing, Washington, Reuters Locations: China, Shanghai's Jing'an, Cook, iPhones, Greater China

☆ Apple plans to spend more in Vietnam as it looks beyond China
▼ + stars: | 2024-04-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

Apple (AAPL) has already spent almost $16 billion through its supply chain in the country since 2019, the government quoted Cook as saying. According to the statement, Cook said Apple “stands ready … to enhance cooperation and investment activities” in the Southeast Asian country. Nguyen, whose firm manages $6 billion in assets, told CNN that labor costs in Vietnam’s manufacturing sector are about half those in neighboring China. That’s a big draw for foreign tech companies looking to hire workers for their factories, and find consumers for their products. Still, Vietnam represents a far smaller market than India, which has also been wooing large foreign companies, including Tesla (TSLA), to set up factories in the country.

Persons: Tim Cook, Pham Minh Chinh, Cook, Apple “, Thuy Anh, Nguyen, Dan Ives, “ We’re, ”, “, Tuan Hung, Ho, That’s, Ives, Juliana Liu Organizations: London CNN, Apple, Vietnamese, Dragon, CNN, country’s Ministry of Planning, Investment, Wedbush Securities, Intel, Consumer, Monetary Fund Locations: Vietnam, China, Hanoi, Beijing, India, United States, Ho Chi Minh City, Washington, That’s, Europe

☆ Here are Wednesday's biggest analyst calls: Nvidia, Broadcom, Apple, Tesla, Netflix, Amazon, Microsoft & more
▼ + stars: | 2024-04-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Barclays reiterates Tesla as equal weight Barclays lowered its price target on Tesla to $180 per share from $225 and said it sees a negative catalyst heading into earnings. Wells Fargo reiterates Microsoft as overweight Wells raised its price target on the stock to $480 per share from $460. Barclays reiterates Broadcom as overweight Barclays raised its price target on Broadcom to $1,500 per share from $1,405. Wells Fargo reiterates Goldman Sachs as overweight Wells said it gives a "gold star" to Goldman coming out of earnings. Truist reiterates Amazon as buy Truist raised its price target on the stock to $216 per share from $195.

Persons: Tesla, Mizuho, RCL, Hancock Whitney, Raymond James, it's, Vernova, Wells, AAPL, TD Cowen, Jefferies, Morgan Stanley, NVDA, Goldman Sachs, Goldman, Maxim, Truist Organizations: Street, Barclays, Royal Caribbean, Citi, GE, HSBC, Biotech, Apple, Microsoft, Broadcom, Education, Strategic Education, Guggenheim, Automotive, Netflix Locations: China, Gulf

☆ Apple believes that AI is the future
▼ + stars: | 2024-04-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Apple wanted all eyes to be on the Vision Pro when it launched. A report about AI chips coming to next-gen Macs helped boost Apple's stock by $112 billion. AdvertisementTwo months ago, Tim Cook was busy marking Apple's bold new vision of the future with the launch of expensive nerd goggles. Second, the future of the Vision Pro remains highly uncertain. Just don't expect the Vision Pro to steal the show in the same way a big AI reveal would.

Persons: —, Tim Cook, Bloomberg's Mark Gurman, Apple, Peter Kafka Organizations: Apple, Service, International Data Corporation, Publishing, Getty, Huawei, Apple's, Vision Locations: Cupertino, Shanghai, China

☆ India’s economy and elections: Is the hype around Narendra Modi’s vision justified?
▼ + stars: | 2024-04-16 | by ( Diksha Madhok | Rachel Wilson | ) edition.cnn.com time to read: +9 min

New Delhi/London CNN —In just a few days, India will commence the world’s largest democratic election. So, is the hype around Modi’s India, which remains a largely impoverished country, justified? The world’s largest biometric database has also helped the government save millions by reducing corruption in welfare initiatives. Domestic investors, both retail and institutional, have been driving India’s stock market to unprecedented peaks. Still, India’s economy, much like its democracy, is far from perfect.

Persons: Narendra Modi, Indranil Mukherjee, Modi, Himanshu Sharma, Guido Cozzi, Arun Sankar, Billionaire Elon Musk Organizations: London CNN —, Getty, CNN, World, University of St, Unified, Bank, ”, National Stock Exchange of India, bourse, Bombay Stock Exchange, NSE, Shenzhen Stock Exchange, Hong Kong Exchange, World Federation of Exchanges, Macquarie Capital, Apple, Foxconn, Billionaire, International Labour Organization Locations: New Delhi, London, India, China, Beijing, Ajmer, Rajasthan, University of St Gallen, Switzerland, Asia’s, Washington, Sriperumbudur, Chennai, Mumbai's Churchgate, AFP

☆ 3 smartphone makers that Apple should be worried about
▼ + stars: | 2024-04-16 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Apple's share of the global smartphone market shrank nearly 10% in the first quarter of 2024, IDC reported. Here are three of Apple's biggest competitors. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . So who are Apple's biggest rivals and the rising threats trying to eat its lunch? That means Samsung has overtaken Apple in global smartphone shipments.

Persons: — Organizations: IDC, Service, International Data Corporation, Samsung, Apple, Business

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