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☆ MicroStrategy stock is up 250% this year. Michael Saylor says bitcoin allows his firm to compete with giants like the Magnificent 7 for investors' attention.
▼ + stars: | 2023-11-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Founder Michael Saylor explained how bitcoin has helped the company's stock compete with Big Tech giants. He said spot bitcoin ETFs and the 2024 halving event will push the token's price higher. If you're going to keep up with the Magnificent Seven you're going to have to grow your revenues and cash flows at 20% a year or faster ad infinitum," Saylor said in a Fox Business interview earlier this week. "There's seven companies that generate all the shareholder returns. Bitcoin has rallied sharply in 2023 but can push even higher once regulators approve financial firms' bitcoin spot ETF products, in Saylor's view.

Persons: Michael Saylor, bitcoin, —, MicroStrategy, Saylor, It's, Bitcoin Organizations: Big Tech, Service, Apple, Microsoft, Fox, Google, Apple Computer, Bloomberg Intelligence

☆ Here's the 'most important metric' as Wall Street gears up for Apple's upcoming earnings report
▼ + stars: | 2023-11-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Investors are focused on Apple's iPhone sales in China and the company's outlook for the holiday quarter. Here's what Wall Street expects from Apple's upcoming earnings report. AdvertisementAdvertisementAll eyes are on Apple as it is scheduled to report its fiscal fourth-quarter earnings on Thursday after the market close. Here's what Wall Street analysts are saying about Apple's upcoming earnings report. AdvertisementAdvertisementJPMorgan: 'Higher competitive pressures in China'Analysts expect Apple's earnings to be "better than feared," but highlighted increasing risks related to China.

Persons: —, Department's, Apple, Goldman Sachs, Goldman, JPMorgan, underwhelming, Lucas Ramadan, Ramadan Organizations: Apple, Investors, Service, Google, Bloomberg, Revenue, JPMorgan, MacBook, Analysts, Apple's Services, Bloomberg Intelligence, Huawei Locations: China, Mac

☆ Premarket stocks: Big Tech earnings can make or break this market
▼ + stars: | 2023-10-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —In an unstable economic climate marked by geopolitical unrest, concerns about the Federal Reserve and soaring Treasury yields, investors are closely watching this week’s Big Tech earnings for clues about where the volatile stock market may head next. That means investors are watching their earnings particularly closely for prognostications about where the market is headed next. Big tech controls the market: Excluding Big Tech, the average earnings for S&P 500 companies would drop by 5% this quarter, according to Bloomberg Intelligence data. “Big Tech valuations pose risks for the broader markets, as Big Tech has contributed to almost all of the stock market’s year-to-date gains,” said David Bahnsen, chief investment officer of the Bahnsen Group. “This lack of market breadth suggests that investors are still highly prone to chasing momentum and getting overly excited about different market themes and stories, such as artificial intelligence.”It also suggests that there’s not a lot of room for any Big Tech earnings missteps.

Persons: —, ”, David Bahnsen, there’s, Louis Navellier, Matt Egan, ” Brian Nelson, Samantha Murphy Kelly Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Big Tech, Microsoft, Google, Nvidia, Apple, Bloomberg Intelligence, Bahnsen, Navellier, Associates, Treasury Department, Gulf Cooperation, United, United Arab Emirates, Saudi, GCC, Treasury, Hamas, United Arab, Mac, IDC Locations: New York, States, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, United Arab, Israel, US, Riyadh, United States, Sudan, Algeria, Turkey, United Arab Emirates, Treasury’s

But a person who worked closely with Ramaswamy said, "He thinks people are put on this earth to serve him." Roivant attracted investors including Masayoshi Son's SoftBank Vision Fund, Peter Thiel's Founders Fund, and the hedge fund Viking Global Investors. Former Roivant employees said Ramaswamy worked hard and expected the same of others. McLaughlin called the employee's recollection "inaccurate," adding that Ramaswamy "has never once raised his voice or used bad language with employees." At Roivant, Ramaswamy kept his politics largely to himself, former employees said.

Persons: Vivek Ramaswamy, Ramaswamy, He's, Donald Trump, Mike Pence, Nikki Haley, Ron DeSantis, Trump, George Soros, didn't, Taco Bell, he's, —, Vivek, Tricia McLaughlin, he'd, McLaughlin, takeout, Forbes, Vivek doesn't, they've, Roivant, Masayoshi, Peter Thiel's, Thiel, JD Vance, Bill Ackman, who'd, . Ramaswamy, Erik Gordon, Vance, John Phillips, Joyce Rosely, Phillips, Anson Frericks, they'd, Rosely, Frericks, They're, they're, Eric Balchunas, Todd Rosenbluth, Rosenbluth, Christopher Lenzo, Brandon Bell, Vivek Ramaswamy's, Katherine Long, Jack Newsham, Meghan Morris Organizations: pharma, Army Rangers, Biotech, Republican, nab, GOP, of Education, FBI, Nuclear Regulatory Commission, Federal Reserve, Florida, Roivant Sciences, General Electric, Yale Law School, Army, Rangers, Harvard, Yale, Fund, Viking Global, Leerink Partners, GlaxoSmithKline, Forbes, Big Pharma, Japan's Sumitomo Pharma Co, ., University of Michigan, FDA, US, Yale Law, ESG, The, Texas, Indiana, BlackRock, Vanguard, Bloomberg Intelligence, Fair, SEC Locations: Mexico, FiveThirtyEight, Roivant, Patagonia, Iowa, New York, Ohio, The Lever

The stock market can be many things. However, the stock market stayed open. A move of a few percentage points in the underlying stock can amount to a double- or triple-digit percentage point increase in the options market. The "premium" is what the buyer pays upfront for the option contract. Rather than buy 100 shares of Apple at $180 each, which would cost $18,000, John decides to use an options contract.

Persons: We're, John, you've, Jim Cramer's, Jim Cramer, Jim Organizations: Gamblers, Social, Bloomberg Intelligence, Apple, Jim Cramer's Charitable, CNBC, Mbbirdy, Getty Locations: 0DTEs, Las Vegas

☆ Vivek Ramaswamy's 'anti-woke' investment firm now manages assets worth more than $1 billion
▼ + stars: | 2023-09-06 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Republican presidential candidate Vivek Ramaswamy is the cofounder of an "anti-woke" ETF firm. The company was set up last year and now manages assets worth more than $1 billion. Ramaswamy's firm is a riposte to the ESG-centric policies of some big investment firms. Last month he said the "big three" investment firms – BlackRock, State Street, and Vanguard – represented "arguably the most powerful cartel in human history." Ramaswamy is vying with Florida governor Ron DeSantis for second place in opinion polls, but both lag some distance behind former President Donald Trump in the race for the Republican presidential nomination.

Persons: Vivek Ramaswamy, Ramaswamy, Eric Balchunas, Anson Frericks, It's, Vanguard –, Ron DeSantis, Donald Trump Organizations: Service, GOP, Bloomberg Intelligence, US Energy ETF, Energy ETF, Bloomberg, – BlackRock, Vanguard, Republican Locations: Wall, Silicon, BlackRock, ESG, Florida

☆ Tesla gave the Model 3 a makeover and cut the price of Full Self-Driving by $3,000
▼ + stars: | 2023-09-01 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Tesla gave its Model 3 a major makeover – the first in six years. But the company cut the price of its Full Self-Driving feature in the US by $3,000. AdvertisementAdvertisementTesla has released a sleeker version of its Model 3 sedan in the first major revamp of one of its cars. It's the first time Tesla has updated a model for the Chinese market ahead of the US, Reuters reported. In the US, the price of the Full Self-Driving system was reduced by $3,000 to $12,000 hours after Tesla unveiled the updated Model 3.

Persons: Tesla, Gray, MK89sGnC9A — Sawyer Merritt Organizations: Morning, Reuters, Elon, Analysts, EV, Bloomberg Intelligence Locations: China, Shanghai, Asia

☆ China's heading for another real estate crisis — but it's on a whole different scale than what it's seen before
▼ + stars: | 2023-08-10 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +8 min

Country Garden, a massive Chinese property developer, missed interest payments on two dollar bonds this week. However, it's the scale of Country Garden's projects that is a big warning signal for the Chinese real estate sector and the wider economy. Evergrande faced a liquidity crisis in 2020, prodding it to try to halve its around $100 billion debt by mid-2023. These efforts were scuppered by a slowdown in China's property sector and regulators' efforts to put brakes on property developers borrowing excessively. However, putting the brakes on borrowing started sending the property sector into a crisis.

Persons: Kristy Hung, Yang Guoqiang, Yang Huiyan, Yang, Moody's, Sandra Chow, Evergrande, Huileng Tan Organizations: Service, Bloomberg Intelligence, Hong Kong Stock Exchange, CNN, China Index Academy, Reuters, Pacific Research, New York Times, Caixa Bank Locations: Beijing, Wall, Silicon, China, Evergrande, Foshan, Asia, Pacific, CreditSights

☆ The deadline for a ruling on Ark's application for a bitcoin ETF is near
▼ + stars: | 2023-08-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Ark's application for a spot bitcoin ETF was published in the Federal Register on May 15. Get in line: Bitcoin ETF applications(Date filed & Last possible review) Ark/21 Shares Bitcoin Trust 5/15/23 1/10/24Bitwise Bitcoin ETF Trust 7/18/23 3/15/24BlackRock Bitcoin ETF Trust 7/19/23 3/16/24VanEck Bitcoin Trust 7/19/23 3/16/24WisdomTree Bitcoin Trust 7/19/23 3/16/24Valkyrie Bitcoin Fund 7/19/23 3/16/24First Trust Galaxy Bitcoin 7/19/23 3/16/24Fidelity Wise Origin Bitcoin Trust 7/19/23 3/16/24 A ninth organization, Grayscale, has filed to convert its Grayscale Bitcoin Trust into a Bitcoin Spot ETF. 'Surveillance sharing agreement'The SEC has denied all prior spot bitcoin ETF applications, citing fraud and manipulation in the underlying markets. Supporters of a spot bitcoin ETF have been emboldened by a court case unfolding between Grayscale Bitcoin Trust (GBTC) and the SEC. Seif runs the Purpose Bitcoin ETF, a spot bitcoin ETF that has been trading in Canada since February, 2021.

Persons: Marco Bello, Reuters It's, Matt Hougan, It's, Neomi Rao, Bitcoin, Som Seif, Seif, Gary Gensler, Gensler, We're, Ric Edelman, Edelman, Bloomberg Intelligence's James Seyffart, Eric Balchunas Organizations: Reuters, SEC, The Securities, Exchange, Federal Register, Federal, Bitwise Asset Management, Bitcoin, BlackRock, Nasdaq, Digital Assets, Financial, CNBC, Bloomberg Locations: Miami Beach , Florida, U.S, BlackRock, Bitwise, Washington, Canada

☆ Generative AI could add up to $4.4 trillion to the global economy annually, McKinsey report says
▼ + stars: | 2023-06-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Generative AI could add up to $4.4 trillion to the global economy annually, a McKinsey report says. The hype around generative AI has reached a fever pitch in recent months and for good reason as the industry has the potential to add $4.4 trillion to the global economy annually, a new McKinsey report argues. The report, which looks at the economic potential of generative AI, says it could add between $2.6 to $4.4 trillion to the global economy through "63 generative AI use cases spanning 16 business functions," which is roughly the same amount as the UK's GDP in 2021. Generative AI refers to conversational AI tools like OpenAI's ChatGPT released in November, which impressed the world with its wide-ranging abilities including creating content, generating music, and writing code. This would largely impact high earners like knowledge workers and could add "trillions of dollars in value to the global economy," McKinsey said.

Persons: ChatGPT, Bing, McKinsey Organizations: McKinsey, Morning, Google, Bloomberg Intelligence

☆ Generative AI — which some fear could contribute to the end of humanity — will be a $1.3 trillion market within a decade, new research says
▼ + stars: | 2023-06-02 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

The generative AI industry is set to grow from $40 billion in 2022 to a $1.3 trillion market in 2032. The launch of OpenAI's chatbot ChatGPT in November fueled the hype around AI tools. Hardware, however, will make up the bulk of the $1.3 trillion of revenue, accounting for $641 billion by 2032, per Bloomberg's estimates. Hardware revenue will come from AI servers, AI storage, computer vision AI products, as well as conversational AI tools, which will be worth $108 billion. Digital ads pertaining to AI will make revenues of $192 billion, while AI assistant software will be worth $89 billion, per the report.

Persons: ChatGPT, Google Bard, Bloomberg Intelligence's, Mandeep Singh, Singh, chatbot ChatGPT, Google's Bard, OpenAI Organizations: Bloomberg Intelligence, Google, Bloomberg

☆ Walmart will offer pet telehealth in latest bid to compete with Amazon
▼ + stars: | 2023-05-22 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

Patrick T. Fallon | Bloomberg | Getty ImagesWalmart is jumping into the burgeoning pet telehealth market. Unlimited access to veterinary telehealth via video or text will be available to Walmart+ subscribers beginning on Tuesday, when Walmart is expected to announce the partnership publicly. Walmart's expansion into pet telehealth signals the largest U.S. retailer is ready to grow its share of the market. Traditional pet-only retailers like Chewy and Petco have already been investing in pet health care to better compete with big-box stores. Others have argued pet telehealth helps bridge the access to care as pet owners contend with a nationwide veterinary shortage and swaths of pet health deserts across rural America.

☆ China's yuan is emerging as a strong challenger to the dollar's dominance. Here are 5 countries that recently turned to the yuan instead of the USD for trade.
▼ + stars: | 2023-05-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

China's yuan is gaining increasing usage globally, pointing to the de-dollarization of transactions worldwide — graduallyChina's yuan slid on Monday. Future Publishing/Getty ImagesThe US dollar has been the world's reserve currency since the second world war, playing an outsized role in the world's trade. Amid these dire tidings, the Chinese yuan is seizing the opportunity and is mounting a challenge to the dollar's dominance. Of course, it does create a desire on the part of China, of Russia, of Iran to find an alternative," Yelled said. Read further for five countries that have recently turned to the yuan for trade and other transactions — either to skirt sanctions or as an alternative to the greenback.

☆ Investors Are Piling Into Actively Managed ETFs
▼ + stars: | 2023-05-02 | by ( Jack Pitcher | ) www.wsj.com time to read: 1 min

Investors are pouring money into actively managed exchange-traded funds, underscoring the appeal of active strategies after years of calls for passive index investing to take over. Active funds still make up a sliver of the roughly $7 trillion ETF market—less than 6% of total assets—but have attracted about 30% of the total flows to ETFs so far this year, according to Bloomberg Intelligence. That follows a banner year for active ETFs in 2022, when they gathered roughly 14% of total flows.

☆ Boeing has a delivery problem and it's not good for the airlines that rely on its planes
▼ + stars: | 2023-04-15 | by ( Taylor Rains | ) www.businessinsider.com time to read: +6 min

These include the MAX 7, MAX 8, and the MAX 8200, which is a high-capacity version of the MAX 8 variant. American has 42 MAX planes in its fleet and 88 on order. The carrier has 137 MAX planes in its fleet with firm orders for 417, plus another 147 as options. Though Boeing and its partners are still assessing the impact of the most recent delivery stoppage, delivery delays have become a serious trend for the planemaker. And, Boeing said despite its recent 787 delivery pause, it didn't "anticipate a change to our production and delivery outlook for the year."

☆ Wall Street says TikTok CEO Shou Zi Chew had a 'disaster' day in Congress — but the internet is loving him
▼ + stars: | 2023-03-24 | by ( Reena Koh | Nidhi Pandurangi | ) www.businessinsider.com time to read: +6 min

On Thursday, TikTok CEO Shou Zi Chew appeared before the House Committee on Energy and Commerce. Wall Street slammed Chew's testimony, dubbing it a "disaster moment" for TikTok. The video has over 1.2 million views, over 215,000 likes, and a range of comments expressing their approval for Chew. Two days before the Congressional hearing, TikTok's official account shared a rare video of Chew casually introducing himself to people. In the video, Chew gave context about the hearing and asked viewers to tell him what they enjoyed about the app.

☆ The TikTok CEO's day in Congress was a 'disaster' that means the app will still likely get banned or sold, Wall Street says
▼ + stars: | 2023-03-23 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

TikTok CEO Shou Zi Chew testified in front of US Congress, amid calls for a forced sale or ban. But after hours of grilling, the testimony likely had the opposite effect. A sale or ban of TikTok is still likelyWithout a radical shift in the conversation, the status quo is upheld. Which means that the same question is now being asked: Is TikTok more likely to be forced to sell, or will it be banned outright? "It's very possible that Congress advances these bills and, and passes them, but those bills won't ban TikTok," he said.

☆ The TikTok CEO's day in Congress was a 'disaster' that failed to prove a sale or ban isn't the only way forward, Wall Street says
▼ + stars: | 2023-03-23 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

TikTok CEO Shou Zi Chew testified in front of US Congress, amid calls for a forced sale or ban. But after hours of grilling, the testimony likely had the opposite effect. Thursday's hearing likely gave lawmakers even more fuel for the argument in favor of a sale or a ban. A sale or ban of TikTok is still likelyWithout a radical shift in the conversation, the status quo is upheld. "It's very possible that Congress advances these bills and, and passes them, but those bills won't ban TikTok," he said.

The Biden administration and CFIUS are pushing for a sale of TikTok in the US. The Chinese government could also block a TikTok sale outright before bidding kicks off. But the list of companies that would actually consider buying TikTok is small, experts told Insider. "I think Microsoft would be one of the only big money, big company possibilities." Ultimately, separating TikTok's US operations, whether in a sale to a big tech firm or a spin off, is complicated.

☆ How to invest in the ChatGPT-driven AI boom: Credit Suisse shares 6 stocks they're labeling as "top picks" as their exposure to AI development opens them up to new revenue streams
▼ + stars: | 2023-03-05 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Badri's price 12-month price target for shares of Microsoft is $285. The analysts said that growing AI use cases will help Taiwan Semiconductor Manufacturing Company and their high performance computing business, which has already doubled since 2016. Credit Suisse's 12-month price target for the stock is $330, which is upside of 16%. Chou has a price target of NT$1,100 for the stock, meaning 13.5% upside. Both Taiwan Semiconductor Manufacturing Company and Baidu are traded on US exchanges, while Accton and Wiwynn are traded in Taiwan.

☆ Artificial intelligence is on the brink of an 'iPhone moment' and can boost the world economy by $15.7 trillion in 7 years, Bank of America says
▼ + stars: | 2023-03-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Bank of America strategists predicted artificial intelligence will revolutionize everything as it teeters on its "iPhone moment." Bank of AmericaLarge language models like ChatGPT make massive amounts of information accessible to everyone, without high barrier to entry or required training. In addition, the exponential rate of technological development suggests that, within a decade, AI models could be a million times more powerful than they are today. Meanwhile, UBS is forecasting that the artificial intelligence hardware and services market will reach $90 billion by 2025. In 2020, it was worth about $36 billion, per IDC and Bloomberg Intelligence data.

☆ AI is set to boom into a $90 billion industry by 2025 as ChatGPT generates investment frenzy, UBS Wealth Management CIO says
▼ + stars: | 2023-02-28 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

UBS predicted that the artificial intelligence hardware and services market will hit $90 billion by 2025. "We think the early success for chatbots could drive attract more technology talent, and drive faster adoption by enterprises and governments," UBS said. "We think the early success for chatbots could drive attract more technology talent, and drive faster adoption by enterprises and governments," Marcelli added. The market forecast predicates itself on AI being a "horizontal technology," meaning that it has important use cases across various industries. Investors are taking advantage of the frenzy, with a boost in share price for certain companies that integrate or use AI.

☆ Tesla will be the winner of the electric vehicle market by leading the charge on AI and energy, Ark Invest's Cathie Wood says
▼ + stars: | 2023-02-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Tesla will be the leader of the EV market, as the company is leading the charge in key areas, Cathie Wood said. Wood predicted Tesla stock would jump to $1,500 in five years, implying a 650% increase from current levels. They're focused on autonomous," Wood said in a Bloomberg Intelligence webinar posted on Thursday. In addition to robotics and artificial intelligence, which will power autonomous electric vehicles, she also pointed to energy storage, saying advances in battery technology will give electric vehicles lower costs than typical gas-powered vehicles. That's because they aren't focusing enough on autonomous vehicles, and Tesla models are also of higher quality, she said.

☆ Wall Street's expectations for AI's influence on markets are skyrocketing, JPMorgan survey says
▼ + stars: | 2023-02-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Amid the recent hype surrounding ChatGPT, Wall Street increasingly anticipates artificial intelligence will change how markets operate. A JPMorgan survey found that 53% of traders believe AI will be the technology with the biggest influence on future trading. To be sure, AI technology has been revolutionizing Wall Street for years. Meanwhile, the hype created by ChatGPT has sent artificial intelligence stocks like Nvidia surging recently. The craze has even sent some obscure small-cap artificial intelligence stocks soaring too.

☆ Nike faces 3 obstacles that could threaten its dominance
▼ + stars: | 2023-01-14 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

New Adidas CEO Bjørn Gulden could reinvigorate the rivalry with Nike. Top of mind with stock pickers: Nike needs to shed inventory and get sales growing more in China. Where is the next leg of growth going to come from? Before the December earnings report, Simeon Siegel, managing director for equity research at BMO Capital Markets, told Insider Nike appeared to be turning a corner in China. Analysts also think new Adidas CEO Bjørn Gulden, who previously worked as CEO of Puma, could reinvigorate the rivalry with Nike.

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