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☆ Martin: Amazon's comments on generative AI should be good news for Nvidia
▼ + stars: | 2024-11-01 | 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 EmailMartin: Amazon's comments on generative AI should be good news for NvidiaThomas Martin of GLOBALT Investments discusses the positive and negatives from Amazon and Apple's latest earnings reports.

Persons: Martin, Nvidia Thomas Martin Organizations: Nvidia, GLOBALT Investments

☆ The Brooklinen Down Comforter has held up for 1,000+ nights. Here's why it's the most comfortable duvet we've tested
▼ + stars: | 2024-11-01 | by ( Mara Leighton | Lisa Sabatini | Senior Digital Culture Reporter | ) www.businessinsider.com time to read: +5 min

Brooklinen All-Season Down Comforter (Queen) The Brooklinen All-Season Down Comforter is a soft, light, and comfortable choice that's airy and warm but remains breathable so you can use it any time of the year. Check price at Brooklinen Check price at Amazon What we like Check mark icon A check mark. Light and airy feelCheck mark icon A check mark. Smooth sateen shellCheck mark icon A check mark. The Brooklinen All-Season Down is the best all-year comforter I've found, but it's not magical.

Persons: I've, it's, Mara Leighton, you've, There's, It's, I'm, Brooklinen, I'd, haven't Organizations: Business

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Amazon, Berkshire Hathaway, Intel, Datadog, Uber & more
▼ + stars: | 2024-11-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Citi reiterates Amazon as buy Citi said the e-commerce giant has "multiple catalysts for growth" following earnings on Thursday. Gordon Haskett upgrades Uber to buy from hold The firm said investors should buy the dip in Uber following earnings on Thursday. Goldman Sachs initiates Penguin Solutions as buy Goldman called Penguin a "high performance hardware solutions for enterprise AI at an attractive valuation." Wells Fargo downgrades Estee Lauder to equal weight from overweight Wells downgraded the stock following a disappointing earnings report on Thursday. KeyBanc upgrades Atlassian to overweight from sector weight KeyBanc upgraded the software company following earnings.

Persons: Goldman Sachs, Gordon Haskett, Goldman, Wells, Estee Lauder, it'll, Atlassian, Kinder Morgan, Morgan Stanley, Arista, Datadog, it's, CFRA, Berkshire Hathaway, Jefferies Organizations: Apple, Apple Intelligence, Citi, Amazon, Penguin Solutions, Penguin, Suncor Energy, " Bank of America, Nvidia, Artificial, TAM, Bank of America, UBS, Intel, Mizuho, IDA, Energy Locations: Asia

☆ Progressives gear up for their first big fight if Harris wins: Protecting Lina Khan
▼ + stars: | 2024-10-31 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +9 min

With Republicans favored to win the Senate, Harris may have few opportunities to pursue an ambitious legislative agenda, shifting the Democratic ideological fight to key personnel decisions. “It’d be a strategic blunder for Harris to pick an ugly fight over Lina Khan’s future when there’s already strong consensus among Democrats. Moderate senators like Bob Casey and Jackie Rosen are actively campaigning on the FTC’s work to lower prices,” said a Senate Democratic aide, who was granted anonymity to discuss a sensitive subject. Removing her would not only infuriate the left but it could provoke a confirmation fight with Senate Republicans over her replacement. Some in the progressive movement believe Harris should simply leave her there without going through confirmation again in the Senate if need be.

Persons: WASHINGTON, Kamala Harris tacks, Lina Khan, Harris, ”, Dan Geldon, Sen, Elizabeth Warren, “, ” Geldon, Mark Cuban, Gary Gensler, Barry Diller, Reid Hoffman, Hoffman, ” “, Adam Green, Kamala Harris, Joe Biden, Ron Klain, Khan, Danielle Deiseroth, MAGA, Lina Khan’s, there’s, Bob Casey, Jackie Rosen, Alexandria Ocasio, Bernie Sanders, “ Khan, Jeff Hauser, he’s, Ohio Democratic Sen, Sherrod Brown, Geldon, General Merrick Garland, Donald Trump, Michael Dorf, Neil Buchanan, Ezra Levin, Biden, we’d, ” Levin Organizations: Federal Trade, Biden, Republicans, NBC, Securities, Exchange, Billionaire Democratic, Democratic Party, Democratic, Facebook, Progress, Trump, Will, Progressives, SEC, Crypto, Ohio Democratic, Banking Committee, Cuban, Monday, Trump Republicans, Republican Locations: Alexandria, Cortez, Ohio, Harris ’, Washington

☆ Big Tech's vanishing perks have left employees to face a stark new reality
▼ + stars: | 2024-10-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, Big Tech is pulling back on the freebies for its employees . The perks help recruit and retain talent and keep employees working at the office. Some Amazon employees aren't buying it. It's not all bad news for Amazon employees, though. Some Amazon employees support Jeff Bezos' controversial WaPo decision.

Persons: —, David Arky, Tyler Le, Insider's Lara O'Reilly, Rob Price, Hugh Langley, Sydney Bradley, It's, Matt Garman, Frederic J . BROWN, BI's Jyoti Mann, Ashley Stewart, Garman, Stave Huffman, Spencer Platt, Natalie Ammari, Tesla, Meta, Jenny Chang, Rodriguez, Harris, Trump, you'll, Jeff Bezos, Bezos, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Microsoft, SEC, Big Tech, Meta, Citibank, Tech, Services, Getty, Amazon Web Services, Amazon, BI, Google, Semiconductor, Intel, Washington Post, Apple Locations: OpenAI, AFP, New York, London

☆ Boeing, union reach sweetened contract offer in bid to end strike, vote scheduled for Monday
▼ + stars: | 2024-10-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Boeing and its machinists' union have agreed on a new negotiated offer to raise worker pay and potentially end a crippling strike that began almost seven weeks ago with a vote on the new proposal set for Monday. The union urged workers to approve the contract. Boeing said Thursday at the end of the contract, average machinist pay will average $119,309. "We encourage all of our employees to learn more about the improved offer and vote on Monday, Nov. 4," Boeing said in a statement. The Boeing strike is expected to dent Friday's U.S. jobs report.

Persons: Kelly Ortberg Organizations: International Association of Machinists, Aerospace Workers, Boeing, Workers, Microsoft, — Locations: Renton , Washington , U.S, Seattle

☆ Jim Cramer identifies an interesting buy level for our worst performing Big Tech stock this year
▼ + stars: | 2024-10-31 | by ( Paulina Likos | ) 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. Jim Cramer said Thursday that Microsoft shares below $400 each would be an interesting buy level. 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 . Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m.

Persons: Jim Cramer, Stocks, Thursday's, Eaton, it's, Jim, Linde, Sanjiv Lamba, Estee Lauder, Bristol Myers, Uber, Jim Cramer's Organizations: CNBC, Nasdaq, Microsoft, Apple, Nvidia, Linde, Merck, LIN Locations: SharkNinja

☆ Amazon crushed it in e-commerce and cloud, forecast an impressive holiday quarter
▼ + stars: | 2024-10-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Amazon reported a much better-than-expected third quarter Thursday, with strong growth across online sales, its cloud business and advertising. Commentary Cloud unit Amazon Web Services (AWS) revenue in the third quarter was essentially in line with the consensus forecast. Growth on a constant currency basis held steady from the second quarter at 19%, breaking a three-quarter streak of accelerating revenue growth. Quarterly results As for the rest of the company, Amazon delivered revenue beats across Online Stores (7% revenue growth), Subscription Services (11% revenue growth), and Advertising Services (19% revenue growth). Smaller businesses like Physical Stores (5% revenue growth) and Other (7% revenue growth) were better than expected too.

Persons: Andy Jassy, Jassy, it's, Kuiper, That's, Jim Cramer's, Jim Cramer, Jim, Nathan Stirk Organizations: Amazon, LSEG, Management, Walmart, Target, Microsoft, North America, International, Web Services, AWS, Subscription Services, Advertising Services, Seller Services, CNBC, Getty Locations: North, North America, United Kingdom, Germany, Sutton Coldfield, England

☆ Amazon's CEO is even more bullish on the AI opportunity
▼ + stars: | 2024-10-31 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Amazon's AI services are rapidly growing, with significant demand for AWS's AI chips. AdvertisementJust when you thought Big Tech executives couldn't get more bullish on AI, Amazon CEO Andy Jassy upped the ante on Thursday. Amazon has launched a number of new AI services in recent years, including Bedrock, an AI development tool, the Rufus shopping agent, and homegrown AI chips called Inferentia and Trainium. Amazon's AI business is "growing three times faster at its stage of evolution than AWS did itself," he added. AdvertisementCustomers are realizing that AI model training and inference "could get costly" and AWS's AI chips can be "very compelling" in terms of its price, the CEO explained.

Persons: Jassy, —, couldn't, Andy Jassy, We've, unravels ChatGPT, Rufus Organizations: Service, Big Tech, Amazon, Services Locations: capex

☆ Amazon's cloud unit records highest profit margin in at least a decade
▼ + stars: | 2024-10-31 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Amazon said revenue in its cloud unit increased 19% in third quarter, just missing analyst estimates. AWS leads the cloud infrastructure market over Google and Microsoft and is an important source of profit for Amazon. On Tuesday Alphabet said revenue from Google Cloud, which includes cloud applications as well as infrastructure, totaled $11.35 billion, up 35%. Microsoft said Wednesday that revenue from Azure and other cloud services grew 33%. Google Cloud reported an operating margin of 17%.

Persons: Matt Garman, Oracle, Garman, Databricks, Naveen Rao Organizations: Amazon Web Services, Tech, Amazon, Revenue, Google, Microsoft, AWS, CNBC, TechCrunch Locations: Laguna Beach , California

☆ What Wall Street expects from Amazon, Apple earnings after the bell
▼ + stars: | 2024-10-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Wall Street faces another key litmus test Thursday with results from megacap technology giants Apple and Amazon . For Apple, Wall Street also wants to see its latest iPhone pick up steam, and investors seek more insight into when the company's AI initiative will begin lifting sales. For Apple, Wall Street expects EPS of $1.60 on $94.58 billion in revenue. Amazon's retail business also remains top of mind for Wall Street ahead of the busy holding shopping period. Apple For Apple, Wall Street is eagerly searching for signs of strong demand for its latest iPhone model and updates on its AI strategy.

Persons: Jason Helfstein, Brent Thill, Bank of America's Justin Post, Doug Anmuth, Goldman Sachs, Eric Sheridan, Ronald Josey, Morgan Stanley, Erik Woodring, Jefferies, Edison Lee, Samik Chatterjee, Davidson's Gil Luria, Wamsi Mohan, Tim Long, AAPL, Long Organizations: Apple, Nasdaq, Microsoft, Wall, LSEG, Amazon, StreetAccount, Jefferies, Bank of America's, Apple Intelligence, " Bank of America, Barclays Locations: Amazon

☆ Amazon CEO pledges AI investments will pay off as capital expenditures surge 81%
▼ + stars: | 2024-10-31 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

"I think we've proven over time that we can drive enough operating income and free cash flow to make this a very successful return on invested capital business," Jassy said. "We expect the same thing will happen here with generative AI." The jump in spending is primarily being driven by generative AI investments, Jassy said. A day earlier, Alphabet CFO Anat Ashkenazi warned the company expects capital spending to grow in 2025. Amazon has said its cloud unit has picked up more business from companies that need infrastructure to deploy generative AI models.

Persons: Andy Jassy, Jassy, OpenAI, we're, Mark Zuckerberg, Anat Ashkenazi, It's, it's Organizations: Amazon Web Services, Meta, Microsoft, Amazon Locations: OpenAI

A recent court filing included six decks MrBeast's team made to pitch brands like GM, Ford, and LG. As in most media pitches, MrBeast's team focused on his audience demographics, scale, and splashy content to woo brands. In each deck, MrBeast's team shared metrics like subscriber and follower counts, monthly views, and unique viewers to showcase the scale of his YouTube empire. Advertisement"The Next Generation Is Not Watching TV," the MrBeast team wrote in many of the pitches. Keep reading for more details from MrBeast's pitch deck for General Motors, dated February 2023.

Persons: —, Burger, MrBeast, Jimmy Donaldson, Jeffrey Housenbold, Mario, Donaldson, he'll Organizations: GM, Ford, LG, Service, General Motors, Walmart, Mario Bros, Verizon, Amazon's, Entertainment Locations: CarMax, Hollywood

☆ Inside 'Project Rodeo,' the Tesla effort pushing the limits of self-driving technology
▼ + stars: | 2024-10-31 | by ( Grace Kay | ) www.businessinsider.com time to read: +16 min

Test drivers on Project Rodeo say they push the company's self-driving software to its limit. Business Insider spoke with nine current and former Project Rodeo test drivers and three Autopilot engineers in states including California, Texas, and Florida. Test drivers on Project Rodeo say they push the company's self-driving software to its limit. Tesla did not respond to a detailed list of questions about Project Rodeo and its self-driving technology. Paul Hennessy/SOPA Images/LightRocket/GettyTwo years later, test drivers were asked to train the system near pedestrians, test drivers said.

Persons: Elon Musk, Tesla, they're, Noah Berger, Missy Cummings, Cummings, Mark Rosekind, Patrick Pleul, Musk, Morgan Stanley, Adam Jonas, They're, FSD, John Bernal, Bernal, Paul Hennessy, Five, —, It's, Cruise, Mario Tama, Philip Koopman, Koopman, Alex Roy, Roy Organizations: Business, BI, Stanford University, National, Traffic Safety Administration, NHTSA, Drivers, Tesla, YouTube, Department of Transportation, San, Cruise, Carnegie Mellon University Locations: San Francisco, California , Texas, Florida, Texas, crosswalks, Cruise, Phoenix, Arizona, Los Angeles , California

☆ Stocks making the biggest moves after hours: Amazon, Apple, Intel and more
▼ + stars: | 2024-10-31 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Amazon — The e-commerce giant popped 4.7% after beating earnings expectations on both lines in the third quarter. Amazon reported $1.43 earned per share on revenue of $158.88 billion, while analysts polled by LSEG expected $1.14 and $157.2 billion, respectively. For the period, Intel posted revenue of $13.28 billion, while analysts surveyed by LSEG were expecting $13.02 billion. Apple — Shares slid 1.8% despite earnings and revenue topping Wall Street expectations for the fourth fiscal quarter. Analysts polled by StreetAccount expected a profit of 64 cents per share on revenue of $1.16 billion.

Persons: LSEG, Avis, —, Atlassian, StreetAccount, — CNBC's Sean Conlon Organizations: Amazon, Intel –, Intel, Apple, Avis Budget, FactSet

☆ Palo Alto shares helped by contract news, Abbott Labs braces for lawsuit ruling
▼ + stars: | 2024-10-31 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

An executive at Palo Alto Networks also posted about it on LinkedIn , without mentioning the dollar amount and duration. These headlines could be helping support shares of Palo Alto in Thursday's down market. Palo Alto did not respond to CNBC's request for comment on the licensing agreement. 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, nonfarm, Morgan Stanley, Palo, Nikesh Arora, —, Missouri —, we're, Jeff Marks, Abbott, we'll, payrolls, Jim Cramer's, Jim Organizations: CNBC, ., Nasdaq, Dow Jones Industrial, Microsoft, Meta, Boeing, Reserve, Palo Alto Networks, Department of Defense, Palo, Abbott Labs, NEC, Judicial, Apple, Coterra Energy, Intel, . Steel, Juniper Networks, Chevron, Exxon Mobil, LyondellBasell, Jim Cramer's Charitable Locations: U.S, Palo Alto, Thursday's, Missouri

☆ Nasdaq 100 futures rise as investors parse latest tech earnings, await jobs data: Live updates
▼ + stars: | 2024-10-31 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Nasdaq 100 futures advanced Thursday night as traders analyzed major earnings reports in the runup to the all-important jobs report. Dow Jones Industrial Average futures rose 15 points, or 0.1%, while S&P 500 futures also gained 0.1%. Those moves come after a downbeat session on Thursday, which saw the S&P 500 and Nasdaq Composite dragged down by post-earnings slumps in Microsoft and Meta Platforms . The Dow led the major indexes down with a slide of 1.3%, while the S&P 500 and Nasdaq shed 1% and 0.5%, respectively. On the earnings front, traders will monitor Friday reports from Chevron and Exxon Mobil .

Persons: Dow, Jay Hatfield, Dow Jones, nonfarm Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Amazon, Intel, Microsoft, Meta, Infrastructure Capital Management, Chevron, Exxon Mobil

☆ Endeavor is using AI to modernize manufacturing. Check out the 9-slide deck it used to raise a $7 million seed round.
▼ + stars: | 2024-10-31 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Endeavor has secured $7 million to modernize manufacturing with AI technology. San Francisco-based Endeavor, launched by 22-year-old Sahitya Senapathy, is developing an AI platform to help modernize manufacturing firms. Endeavor aims to automate many of the manual tasks in the industry, which otherwise consume a lot of time. AdvertisementThe startup uses large language models to automate administrative manufacturing processes, such as purchase orders, invoices, and shipping notices. Check out the 9-slide pitch deck it used to secure the fresh funds.

Persons: —, Senapathy, they're Organizations: Endeavor, BI, Service, San, Business, Craft Ventures, Endeavor's, Heartland Ventures, Web Locations: San Francisco

☆ Amazon set to report Q3 earnings after the bell
▼ + stars: | 2024-10-31 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +5 min

Amazon will report results for the third quarter after the bell Thursday. Earnings are growing much faster, due largely to Amazon CEO Andy Jassy's widespread cost-cutting efforts. Amazon is expected to report operating income of $14.7 billion during the quarter, up more than 31% from a year earlier, according to StreetAccount. During the third quarter, Amazon held its annual Prime Day megasale in July. WATCH: What to expect from Meta and Amazon earnings

Persons: Brian Olsavsky, Donald Trump, Olsavsky, Andy, Jassy, Jeff Bezos, Jassy's, Brad Erickson, CNBC's, megasale, Amazon, Oppenheimer, Jason Helfstein, SpaceX's, Helfstein, hasn't Organizations: LSEG, LSEG Revenue, Web, Paris Olympics, Amazon, CNBC, Nasdaq, RBC Capital Markets, Apple, Microsoft, Meta, Adobe Analytics, United Launch Alliance, . Space Force, Olsavsky Locations: U.S

☆ Amazon earnings live updates: Wall Street watching for margins, signs of consumer health
▼ + stars: | 2024-10-31 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Amazon will release its third-quarter earnings after the closing bell on Thursday. Wall Street is bullish on the stock, though uncertainty lingers around Amazon's consumer health. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAmazon will report third-quarter earnings on Thursday after the closing bell.

Persons: — Organizations: Service

☆ We retired abroad to Cuenca, Ecuador, once the US got too expensive. We still love the expat hot spot 14 years later.
▼ + stars: | 2024-10-31 | by ( Edd Staton | Cynthia Staton | ) www.businessinsider.com time to read: +5 min

We retired early 14 years ago and moved abroad because the US was too expensive. We set our sights on Cuenca, Ecuador, which has moderate weather and is super walkable. Our cost of living is much lower now and we love living here. We can walk everywhereWalkability was huge on our retirement wish list, and Cuenca has been a dream. Cuenca's weather is fantasticAnother feature high on our retirement wish list was a temperate climate.

Persons: —, Cynthia Staton, We've Organizations: Service, Social Locations: Cuenca, Ecuador, Las Vegas

☆ Microsoft's stock heads for worst day in two years after disappointing forecast
▼ + stars: | 2024-10-31 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Microsoft 's better-than-expected earnings report wasn't enough to prevent the stock's steepest selloff in two years, as investors instead focused on the company's forecast for the current period. Microsoft shares fell more than 5% on Thursday and headed for their worst day since Oct. 26, 2022, when they dropped 7.7%. Amazon , which leads the cloud infrastructure market, is scheduled to report results after the close on Thursday. Net income rose 11% to $24.67 billion from $22.29 billion in the year-ago quarter.

Persons: Satya Nadella, Amy Hood Organizations: Microsoft, Revenue, Google, BofA Global Research Locations: Jakarta, Indonesia

☆ Amazon's advertising business grew 19% in the third quarter
▼ + stars: | 2024-10-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +1 min

Amazon's online advertising business brought in $14.3 billion in the third quarter, up 19% year over year, in line with analysts' estimates of $14.3 billion. The Seattle tech giant revealed the financial results of its growing advertising unit as part of its latest earnings report Thursday. Amazon's overall third-quarter sales were $158.9 billion, ahead of analysts' estimates of $157.2 billion. Amazon's online advertising business is still a fraction of the company's overall business, but its growth over the years has made it a major competitor to Alphabet and Meta , which lead the digital advertising market. Meta's third-quarter advertising revenue came in at $39.9 billion, which was up 19% compared with the year prior.

Persons: Amazon's Organizations: Google, Meta, CNBC, Emarketer, YouTube Locations: Seattle

☆ OpenAI is taking a page out of Big Tech's playbook by reportedly building its own chips
▼ + stars: | 2024-10-31 | by ( Tom Carter | ) www.businessinsider.com time to read: +6 min

OpenAI is reportedly teaming up with Broadcom and TSMC to build custom AI chips, per Reuters. OpenAI could have its custom chips by 2026 but is reportedly dropping plans to build its own fabs. AdvertisementBuilding custom AI chips has long been the preserve of a select few tech companies — but OpenAI might be about to join the party. AdvertisementOpenAI's move, which will also reportedly see it incorporate AMD chips into its supply mix, means it would reduce its dependency on Nvidia, the market leader for AI chips. While it's unclear how much OpenAI's reported chip-building push will cost, creating custom AI chips doesn't come cheap.

Persons: OpenAI, —, Kate Leaman, Rahul Kulkarni, Maia, Meta, Mark Zuckerberg, Gil Luria, Davidson, Luria, Edward Wilford, Sam Altman, Altman, Pierre Ferragu Organizations: Broadcom, Meta, Google, Service, Reuters, BI, Microsoft, Apple, Tech, Amazon Web, AWS, Nvidia, Big Tech, Street, New, Research, New York Times

☆ BlackRock launches ETF that expands beyond the 'Magnificent Seven'
▼ + stars: | 2024-10-31 | by ( Krysta Escobar | ) www.cnbc.com time to read: +1 min

BlackRock's iShares is trying to appeal to investors who want to diversify beyond from the so-called Magnificent Seven. The firm launched the iShares Top 20 U.S. Stocks ETF (TOPT) this month. It doesn't just hold the Magnificent Seven — Apple , Amazon , Meta , Alphabet , Microsoft , Nvidia and Tesla . It's made up of the 20 largest U.S. stocks by market capitalization. Aguirre, the firm's head of U.S. iShares product, noted the ETF's mission is to deliver an easy and accessible way to tap into the innovation of megacaps – "whether that be in the tech-heavy Nasdaq space or, more broadly, within the S&P [500]."

Persons: iShares, It's, BlackRock's Rachel Aguirre, CNBC's, Aguirre Organizations: Stocks, Microsoft, Nvidia, Tesla

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