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That's the scenario Apple sketched out Monday, when it tried to explain how it was integrating AI into its ecosystem. But it's also a very real problem for Apple since Apple is in the business of selling expensive, high-margin hardware. AdvertisementBut I do have a third, vibes-based theory about why the AI that Apple showed off didn't blow me away. And during Apple's Monday demo, the company played on both sides of that line: It would tell you that Apple's AI could instantly make your writing better. In Apple's framing, that's AI that's helpful, but not creepy; immediately useful, but not too disruptive.
Persons: , Apple, it's, we've, Tim Cook, Craig Federighi Organizations: Service, Business, Apple, iPhones, AIs Locations: emojis
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple WWDC: Apple Intelligence platform 'takes action' for iPhone and Mac usersApple holds its Worldwide Developers Conference (WWDC) on Monday at the tech giant's campus in Cupertino, California.
Organizations: Apple Intelligence, Apple, Developers Locations: Cupertino , California
Apple 's about to kick off its annual Worldwide Developer's Conference where it's expected to announce its plans for AI. The company is expected to announce a partnership with OpenAI and reveal "Apple Intelligence," according to recent reports from Bloomberg. We'll also hear about the latest software updates for the iPhone, Mac, iPad, Apple TV and Apple Watch. Apple typically releases that software in developer preview ahead of a full launch for consumers sometime in the fall with the launch of the new products. You can also watch the live stream here:
Persons: OpenAI, WWDC, We'll, Craig Federighi, Atif Malik Organizations: Apple, Apple Intelligence, Bloomberg, Apple Watch, Citi Locations: Pacific
While the market is seeing more listings, the boost in supply is not enough to attract buyers, according to Doug Duncan, senior vice president and chief economist at Fannie Mae. "Mortgage rates are down a bit from May highs, but that hasn't spurred a surge of competition among buyers in the housing market," Divounguy said. Many experts believe the Federal Reserve will likely hold interest rates in the upcoming board meeting on June 12. However, the National Association of Realtors forecast a potential interest rate cut by the fall of this year, according to Jessica Lautz, the NAR's deputy chief economist. 'It's hard to foresee prices really cooling'While the housing market has slowed in terms of the number of transactions, prices haven't soften despite broader expectations, Ostrowski explained.
Persons: Orphe Divounguy, Realtor.com, Kelman, Doug Duncan, Fannie Mae, Duncan, Freddie Mac, hasn't, Divounguy, Jessica Lautz, Ostrowski Organizations: Realtor.com, CNBC, Federal Reserve, Reserve, National Association of Realtors Locations: U.S
Elon Musk slammed Apple's new OpenAI partnership, threatening to ban Apple devices at his companies. He said visitors will have to check their Apple devices and they will be stored in a Faraday cage. Apple assures privacy protections, while Musk claims Apple can't ensure user security if integrating OpenAI's technology. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Apple announced at its Worldwide Developer's Conference on Monday that it will be integrating its new AI software, called Apple Intelligence, across the iPhone, iPad, and Mac.
Persons: Elon Musk, , Elon, Apple —, Siri, Apple Organizations: Service, Apple, Worldwide, Conference, Apple Intelligence, Mac, OpenAI, Business
On Monday, the longtime Club holding unveiled its long-awaited generative AI initiatives, known as Apple Intelligence. It means that Apple's new AI tools should be able to boost lagging iPhone sales, which make up roughly half of the company's overall revenue. The iPhone 15 Pro and Pro Max, which were released last year, are the only versions of the smartphone currently compatible with Apple Intelligence. "Even if iPhone 15 users don't upgrade right away, they now have a very good reason to do it sooner than they otherwise would have. Taken together, these suite of features show that Siri is getting the makeover that Jim Cramer recently argued would be crucial for an iPhone upgrade cycle to ensue.
Persons: Siri, Pro Max, Zev Fima, Fima, Kelsey Peterson, Apple, Jim Cramer, Jim, Jim Cramer's, Tim Cook, Nic Coury Organizations: Apple, Monday, Club, Apple Intelligence, Pro, Investing, Apple News, Microsoft, CNBC, Developers, AFP, Getty Locations: China, Cupertino , California
Opinion: Apple can still get back to its golden age
  + stars: | 2024-06-07 | by ( Opinion Jeff Yang | ) edition.cnn.com   time to read: +10 min
Jeff Yang CNNNaturally, Apple has locked down the details of the revelations it plans on releasing on Monday tighter than Fort Knox. Apple CEO Tim Cook introduces Apple Vision Pro, a mixed reality headset, at Apple Park in Cupertino, CA, on June 5, 2023. What’s the songs-in-your-pocket equivalent for Vision Pro? But so far, if Apple is looking to reclaim its real-world relevance, Vision Pro isn’t it — yet. Let’s hope that at this WWDC, the company defiantly ignores last year’s laughter and continues to look, and think, different.
Persons: Jeff Yang, Bruce ”, , CNN —, Jeff Yang CNN, OpenAI, Tim Cook, Steve Jobs, Brooks Kraft, Jobs, Cook, Ive Organizations: CNN, Conference, Apple, Huawei, International Trade Commission, Justice Department, Vision, Apple Vision, Apple Inc, Apple Watch, MacBook Air, Twitter, Facebook, mojo Locations: Asian America, America, Knox, China, Cupertino , CA, manila, WWDC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailM·A·C Cosmetics Global Creative Director celebrates Pride MonthFor Pride Month, M·A·C Cosmetics Global Creative Director Drew Elliot says finding a supportive community and workplace can be a strength in connecting with customers.
Persons: Drew Elliot Organizations: Pride
McDonald's lost its chicken Big Mac trademark rights in the EU on Wednesday. The trading bloc's General Court ruled in favor of Supermac's, an Irish fast-food chain. AdvertisementMcDonald's will no longer have the right to call its chicken burgers Big Macs in the European Union following a landmark ruling by one of the trading bloc's top courts. On Wednesday, the Luxembourg-based General Court ruled against the fast-food giant and in favor of Supermac's, an Irish takeaway chain. The case centered on a 2017 application that Supermac's made to the European Intellectual Property Office (EUIPO) to remove its American rival's "Big Mac" trademark.
Persons: McDonald's, Organizations: EU, Service, Union, Intellectual Property, Business Locations: Irish, Luxembourg
Read previewWhen Steve Jobs launched the first iPhone in 2007, it was a landmark moment in Apple's history that involved the CEO of another Silicon Valley company: Google. Now, Apple is preparing to unveil its plans to dominate the internet again — with the help of another Silicon Valley company. Apple's plan to dominate the internet, againOn Monday, when CEO Tim Cook kicks off Apple's Worldwide Developer Conference (WWDC), he's expected to reveal a new vision of artificial intelligence by announcing a partnership with OpenAI. Time will tell if the deal is as powerful as Apple's search engine agreement with Google. AdvertisementOne thing is certain: Apple's about to pitch the world on its plans to dominate the internet in the AI age.
Persons: , Steve Jobs, Eric Schmidt, Google's, Apple, it's, Tim Cook, he's, Bloomberg's Mark Gurman, Dan Ives, OpenAI, Sam Altman Organizations: Service, Google, Apple, Business, Apple's, Conference, OpenAI, Rivals, Microsoft Locations: Bloomberg's
“The spicy trend is here to stay,” Sally Lyons Wyatt, packaged goods and foodservice industry advisor with market research firm Circana, said in an interview with CNN. Spicy plus sweet give you “Swicy.” And yes, brands are trying to make it a thing as they look for ways to stretch out the spicy trend. Starbucks in the spring also introduced limited-time hot honey drinks, made with wildflower honey infused with chili peppers, such as Hot Honey Affogato and Hot Honey Espresso Martini to the menu at its Starbucks Reserve roasteries and select US stores. Nestle has also trotted out recent spicy innovations such as California Pizza Kitchen’s hot honey croissant crust pizza, Stouffer’s spicy nacho mac and Hot Pockets x Hot Ones. “Americans have made cult-favorites out of condiments like Sriracha and hot honey.
Persons: ” Sally Lyons Wyatt, ” Lyons Wyatt, Millennials, Gen Z, Gen Alpha, ” Lyons, Gen, Martini, , Lyons Wyatt, Jennifer Creevy, WGSN, Jeff Gritchen, Alpha, Creevy, , ” Creevy, Mustafa Shamseldin, “ We’ve, Nestle, Primo, nacho, Varchasvi Singh, ” Singh Organizations: New, New York CNN, Walmart, Target, CNN, Starbucks, Disney California, MediaNews, Orange, Register, USA Pepsico, Foods, Pepsico, ” Nestle, Nestle, Tombstone, Mintel Locations: New York, America, Sonoma, Anaheim , California, Korea, , Tombstone, USA, North America, California
Insider Today: Amazon's AI problem
  + stars: | 2024-06-02 | by ( Matt Turner | ) www.businessinsider.com   time to read: +4 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Also read:AdvertisementGetty Images; Alyssa Powell/BIThe best investments everBI asked seven heavyweight investors, including Rob Arnott and Bob Elliott, to identify the best trades of their careers. Each shared the top investments they've made, and explained how the lessons from those decisions still apply today. Getty Images; Alyssa Powell/BIAmerica's ridiculous hiring hurdleFewer American men than ever are working right now, and unemployment insurance may be at least partially to blame. Getty Images; Alyssa Powell/BIA better way to sell homesFixed-rate mortgages guarantee homeowners will pay the same amount each month for decades.
Persons: , You'll, Kitty, Flopsy, Jenny Chang, Rodriguez, Andrej Sokolow, Carter Smith, Alyssa Powell, Amazon, Rob Arnott, Bob Elliott, Andrea Mac Organizations: Service, Business, Google, Getty, Bloomberg Locations: Denmark, America
Mortgage rates are up slightly after initially trending a bit lower over the past few weeks. "Following several weeks of decline, mortgage rates changed course this week," Sam Khater, Freddie Mac's chief economist, said in a press release. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.36%, a 12-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.
Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll, it's Organizations: Federal Reserve, Zillow Locations: Chevron
The president of McDonald’s USA, Joe Erlinger, pushed back on “inaccurate” reports this week that said the chain had more than doubled its prices on some items over the last decade. But his retort wasn’t exactly reassuring: The average price of a Big Mac is up 21 percent from 2019. Erlinger’s rebuttal underlines the heat that some companies are facing as the news media, politicians and consumers focus on steadily rising prices. Whether persistent price increases reflect price gouging, or simply companies’ own rising costs, is a matter of fierce debate. Either way, one thing is clear: Consumers are becoming fed up.
Persons: Joe Erlinger, McDonald’s, Chris Kempczinski Organizations: McDonald’s, Starbucks, Target, Yum Brands, KFC, Consumer Locations: McDonald’s USA, Pizza
The 60/40 portfolio isn't dead — in fact, it tends to outperform over the long term, according to UBS. The strategy revolves around a simple balanced portfolio, allocating 60% to stocks and 40% to fixed income. That theory was tested when both equities and fixed income slumped in 2022. Crafting a balanced portfolio Falconio expects the new 60/40 construction to look a little different with the rise in popularity of alternative assets. When it comes to traditional fixed income assets, UBS suggests holding strategic, diversified exposure throughout fixed income.
Persons: Cash, Mark Haefele, Leslie Falconio, Falconio, Fannie Mae, Freddie Mac, Ginnie Mae, Darla Mercado Organizations: UBS, Investment Company Institute, Federal Reserve, U.S . Locations: UBS Americas,
East West Bancorp shares have eked out a small gain in 2024, up 2%. Despite the heightened scrutiny around regional banks, little-known East West Bancorp has been able to pull ahead thanks to a key customer base: Asian Americans. American dream = home ownershipPart of what's helping East West succeed with Asian Americans goes all the way back to its origins. East West Bancorp was founded in 1973 as a federal savings and loan in the Los Angeles area to service the Chinese American and immigrant community struggling to obtain mortgages and business loans. East West also drives cross-border activity between the U.S. and other Asian countries, such as Thailand and Vietnam.
Persons: Alexander Yokum, Wells, Timur Braziler, Fannie Mae, Freddie Mac, , Braziler, Christopher Del Moral, Niles, it's, Del, Steven Leung, Leung, CFRA's Yokum, Yokum, Dominic Ng, that's Organizations: East West Bancorp, Regional Banking, Bancorp, West Bancorp, CFRA, Federal Housing Finance Agency, East, East West, U.S, Bancorp's Locations: Southern California, U.S, United States, East, Los Angeles, Asia, FactSet, East West, New York, Beijing, China, Shanghai, Thailand, Vietnam, Washington
Mortgage rates have been holding relatively steady this month, though 30-year mortgage rates inched up slightly this week. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.36% this week, according to Freddie Mac data, which is a 12-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.
Persons: Lawrence Yun, Freddie Mac Organizations: National Association of Realtors, NAR, Zillow, Federal Reserve, Fed Locations: Chevron
Despite this income, my husband and I have not agreed to — nor do we plan to — pay for the college tuition of our oldest daughter, a sophomore at the University of Iowa. If they spent our money on tuition, we'd need a say in that decision. This decision aligns with our commitment to avoid debt and maintain a healthy financial position, which benefits our entire family. Committing to paying for one child's college education means we must do the same for all of them to maintain fairness. Evaluating whether to pay for our kids' college tuition was a challenging decision, but it's rooted in our desire to foster autonomy, responsibility, and financial prudence.
Persons: , Andrea Mac, It's, I've, we've, don't, we're, they've, We've, We're Organizations: Service, University of Iowa, Business, Investment Education Locations: Greater Chicago
Despite this income, my husband and I have not agreed to — nor do we plan to — pay for the college tuition of our oldest daughter, a sophomore at the University of Iowa. To be fair, we've decided that we, as parents, don't get to choose which college our children attend. With rising tuition costs, my husband and I think it's essential to evaluate whether the outcomes in terms of ROI justify the financial outlay for college. Committing to paying for one child's college education means we must do the same for all of them to maintain fairness. Evaluating whether to pay for our kids' college tuition was a challenging decision, but it's rooted in our desire to foster autonomy, responsibility, and financial prudence.
Persons: , Andrea Mac, It's, I've, we've, don't, we're, they've, We've, We're Organizations: Service, University of Iowa, Business Locations: Greater Chicago
Washington CNN —US economic data released Thursday was broadly disappointing. And mortgage rates inched higher this week, thrusting the average rate back above the psychological 7% threshold. HousingHousing data released Thursday mostly showed that the market remains tough, especially for first-time buyers. The Fed doesn’t directly set mortgage rates, but its actions, which influence yields, do. There were 219,000 first-time claims filed during the week ended May 25, according to Labor Department data released Thursday.
Persons: ” Oren Klachkin, it’s, Freddie Mac, They’re, ” Lawrence Yun, hasn’t Organizations: Washington CNN, Treasury, Federal, Nationwide, Commerce, Housing, Fed, National Association of Realtors, ” Jobs, Labor Department, Dow, Nasdaq Locations: American
Big oil shareholders could get a lot richer
  + stars: | 2024-05-30 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
New York CNN —Big oil just got bigger, and shareholders could soon be getting richer. Dollar Tree will reopen these stores with its own products under its brand beginning in the fall, reports my colleague Nathaniel Meyersohn. Dollar Tree, a national company with mostly suburban locations, primarily offers discretionary merchandise like party supplies and home goods. Dollar Tree also owns Family Dollar, based mostly in cities. Family Dollar has underperformed Dollar Tree and other discount chains in recent years, and it’s closing 975 stores.
Persons: Stewart Glickman, , “ it’s, Stewart, Hess, McDonald’s, Joe Erlinger, , Danielle Wiener, Bronner, they’re, Chris Kempczinski, ” Read, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN, ConocoPhillips, Marathon, Diamondback, Endeavor Energy Partners, , McDonald’s, America, Mac, Locations: New York, multibillion, McDonald’s USA, U.S, Arizona , California , Nevada, Texas, Virginia, West Coast
At its annual Worldwide Developers Conference next month, it's believed that Apple will share more information about an expected AI-integrated iPhone. Jim Cramer has said that new AI capabilities on devices and for devices will usher in the " greatest refresh cycle in history ." Wireless stands to benefit from the expected increase in iPhone sales because Apple is one of Broadcom's largest customers. If there's a surge in PC sales, in particular, this could boost both Nvidia's Gaming and Professional Visualization segments. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Satya Nadella, it's, Jim Cramer, It's, Tim Cook, Jim, iPhones, Jim Cramer's, Eugene Mymrin Organizations: Microsoft, Developers Conference, Apple, Broadcom, Nvidia, Computing, Windows, Revenue, Shareholders, China Academy of Information, Communications Technology, Broadcom Wireless, Broadcom's Semiconductor, Nvidia's Gaming, Club, HP Inc, Dell, CNBC Locations: China
New York CNN —McDonald’s has a message for America: Rumors of Big Mac inflation are greatly exaggerated. “The average price of a Big Mac in the U.S. was $4.39 in 2019,” he said. That’s an increase of 21% (not 100%).”What Erlinger wants customers to know is not that high-priced McDonald’s burgers don’t exist at all. Erlinger is fighting back because McDonald’s pricey burgers have become something of a symbol of elevated fast food prices. “It’s imperative that we continue to keep affordability at the forefront for our customers,” McDonald’s CEO Chris Kempczinski said during an April 30 analyst call.
Persons: New York CNN — McDonald’s, McDonald’s, Joe Erlinger, , , they’re, Chris Kempczinski, NOA, Erlinger nodded, , Jordan Valinsky Organizations: New, New York CNN, America, McDonald’s, Mac, , Wall Street Journal, National Owner’s Association Locations: New York, McDonald’s USA, U.S
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The stock market experienced a broad decline Wednesday as Club name Nvidia seesawed on either side of unchanged. Jim Cramer said the stock's move higher is "important because Apple should've been up [more] yesterday." 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 .
Persons: Jim Cramer, Dow, Apple should've, Abbott, Jim, Jim Cramer's, ABT Organizations: CNBC, Nvidia, Nasdaq, Apple, Abbott Laboratories, Coterra Energy Locations: China, NVDA, CTRA
A top McDonald's executive is weighing in on claims that the company has jacked up its prices. Joe Erlinger, president of McDonald's USA, said in an open letter Wednesday that the average price of McDonald's menu items is up around 40% since 2019. Erlinger said the average price of a Big Mac meal today is $9.29, up 27% from $7.29 in 2019. The price for a 10-piece McNuggets meal is up 28% over the same period, and the price of medium french fries increased 44%. Erlinger added the cost increases are tied to similar increases in input costs such as crew salaries and cost of goods.
Persons: Joe Erlinger, Erlinger, we've Organizations: McDonald's, House Republicans Locations: McDonald's USA
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