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☆ The credit crunch is getting worse and bankruptcies are on the rise
▼ + stars: | 2023-07-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

David Tesher: Before we were forecasting a short and shallow recession, but we no longer think there’s going to be a recession. Hard decisions are being made, and that’s going to feed back into corporate growth prospects. As economic conditions slow, credit is becoming tighter and companies are defaulting at a faster pace than they have. So yes, some corporations are distressed, but this isn’t something affecting the entire market, which is what you’d associate with a broad credit crunch. Big Tech is back with a vengeanceLast year was rough for tech companies: Tech stocks fell more than 30% in 2022, while the overall market dropped 20%.

Persons: Banks, Bell, David Tesher, we’re, We’re, There’s, reevaluation, it’s, Meta, Wedbush’s Daniel Ives, Liz Ann Sonders, Charles Schwab, ”, Megan Horneman, Matt Egan, John LaForge Organizations: CNN Business, Bell, CNN, P, Big Tech, Tech, Apple, Nvidia, Microsoft, Verdence Capital Advisors, Nasdaq, Dow Jones, AAA, That’s, US Energy Information Administration, Wells, Investment Institute

☆ We believe Apple hits $4 trillion market cap by 2025, says Wedbush Securities' Daniel Ives
▼ + stars: | 2023-06-30 | 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 EmailWe believe Apple hits $4 trillion market cap by 2025, says Wedbush Securities' Daniel IvesDaniel Ives, Wedbush Securities managing director and senior equity analyst, join 'Squawk Box' to discuss Apple's recent market rally as it crosses the $3 trillion market cap, what's next for the company, and more.

Persons: Daniel Ives Daniel Ives Organizations: Wedbush Securities

☆ Is Alphabet or Nvidia the better A.I bet? Wedbush Securities' Dan Ives gives his take
▼ + stars: | 2023-06-07 | 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 EmailIs Alphabet or Nvidia the better A.I bet? Wedbush Securities' Dan Ives gives his takeDaniel Ives, managing director and senior equity research analyst at Wedbush Securities, discusses the performance of Alphabet and Nvidia, and weighs in on which is the better bet on AI.

Persons: Dan Ives, Daniel Ives Organizations: Wedbush Securities, Nvidia

☆ For Apple, emerging markets like Vietnam, India and Indonesia are 'a golden opportunity' right now
▼ + stars: | 2023-05-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Apple launched an online store in Vietnam this week, in another nod to the growing importance of emerging markets for the iPhone maker. Markets like Vietnam, India and Indonesia are becoming more important for Apple as its growth in developed markets, including China, slows down, prompting the company to focus on places where it’s traditionally been less active. “Clearly, growth has slowed globally and thus put more pressure [on Apple] to aggressively go after emerging markets,” said Daniel Ives, managing director of Wedbush Securities. This has “been the core part of its success in China that now can be replicated in India, Indonesia, and Vietnam, among others,” said Ives. And while consumers are becoming more affluent, the company’s price points are still considered high in many emerging markets, noted Ives.

☆ Big beat for Amazon: Tops profit, cloud-unit sales estimates
▼ + stars: | 2023-04-27 | 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 EmailBig beat for Amazon: Tops profit, cloud-unit sales estimatesHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Casey Newton, Platformer editor, Steve Kovach, CNBC tech reporter, and Daniel Ives, Wedbush Securities managing director of equity research, join the show to discuss Thursday's deluge of tech earnings.

☆ Meta returns to revenue growth: Stock surges after-hours on big beat
▼ + stars: | 2023-04-26 | 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 EmailMeta returns to revenue growth: Stock surges after-hours on big beatHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Nilay Patel, The Verge editor-in-chief, Daniel Ives, Wedbush Securities managing director of equity research, and Julia Boorstin, CNBC, join the show to discuss Meta's most recent quarter.

☆ China's electric car drive, led by BYD, leaves global brands behind
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +4 min

SHANGHAI, April 17 (Reuters) - China's auto market, the world’s largest, is accelerating toward an electric future – leaving established global brands stuck in the slow lane. China’s passenger car sales were down 13% in the first quarter, data from the China Passenger Car Association show. But sales of EVs and plug-in hybrids – an area where Chinese automakers led by BYD now dominate – were up 22%. BYD dominates China’s market for plug-in hybrids, cars that have a combustion engine but are capable of being charged and running for shorter distances on electric power. In a further threat to established brands, China’s exports are growing fast, led by EVs and PHEVs.

☆ Cirrus Logic slumps as analyst says Apple to abandon button design change
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

April 12 (Reuters) - Shares of Apple Inc (AAPL.O) supplier Cirrus Logic Inc (CRUS.O) tumbled about 12% after a renowned analyst said the iPhone maker will abandon the solid-state button design for premium variants of its iPhone 15 series of smartphones. Amid speculation Apple would use a button format that remains static, TF International Securities analyst Ming-Chi Kuo, known for his accurate predictions related to Apple's product launches, said in a blog post the company decided to abandon the design shift. "Investors had anticipated that the new solid-state button design would increase suppliers' revenues and profits," Kuo said. Shares of integrated circuit maker Cirrus Logic have hit their lowest in over two months and are set for their worst day in about two years. Cirrus Logic declined to comment.

☆ Premarket stocks: What markets are watching after digesting the US jobs data
▼ + stars: | 2023-04-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

While inflation has come down and other economic data point to a cooling economy, the labor market has remained remarkably resilient. The labor market is cooling but not rapidly or significantly, and further rate hikes can’t be ruled out. More trouble for commercial real estateA few weeks ago, Before the Bell wrote about big problems brewing in the $20 trillion commercial real estate industry. In a worst-case scenario, anxiety about bank lending to commercial real estate could spiral, prompting customers to yank their deposits. The proportion of commercial office mortgages where borrowers are behind with payments is rising, according to Trepp, which provides data on commercial real estate.

Multiple experts identified the presence of malware on the Pinduoduo app that exploited vulnerabilities in Android operating systems. Evidence of sophisticated malware in the Pinduoduo app comes amid intense scrutiny of Chinese-developed apps like TikTok over concerns about data security. Pinduoduo has previously rejected “the speculation and accusation that Pinduoduo app is malicious.”CNN has contacted PDD multiple times over email and phone for comment, but has not received a response. Google Play is not available in China, and Android users in the country download their apps from local stores. Engineers also found their access to big data, data sheets and the log system revoked, the source said.

☆ The TikTok hearing is mostly lawmakers berating the CEO and loudly asking 'Yes or no?' to detailed questions
▼ + stars: | 2023-03-23 | by ( Dan Whateley | Aaron Mok | ) www.businessinsider.com time to read: +4 min

TikTok CEO Shou Chew appeared before the House Committee on Energy and Commerce on Thursday. Chew's remarks were often cut short as Congress members pressed him for "yes" or "no" responses. "Welcome to the most bipartisan committee in Congress," Republican Rep. Earl LeRoy "Buddy" Carter said, addressing Chew as "Mr. Chew's responses to questions were often cut short as members of Congress asked for shorter "yes" or "no" responses. In the days leading up to the committee hearing, TikTok helped arrange a press conference with Democratic Rep. Jamaal Bowman that it described as a push "in support of free expression."

☆ AI stocks surge as investors bet on growth prospects
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +2 min

C3.a1 forecast better-than-expected revenue and profit for both the fourth quarter and fiscal year 2023, after its third-quarter results topped Wall Street estimates. Shares of the AI software provider were up 16% at $24.80, and were one of the top five trending stocks on StockTwits. Microsoft's investment in OpenAI's ChatGPT boosted AI firms' popularity further. Other major AI stocks also surged on Friday with BigBear.ai (BBAI.N), conversation intelligence firm SoundHound AI (SOUN.O), and Thailand's security firm Guardforce AI (GFAI.O) jumping between 5% and 20%. "AI could become the new gold rush on Wall Street," said Adam Sarhan, chief executive officer of 50 Park Investments in Florida.

☆ Why AI stocks could return outsized performance in the next 18 months, and 7 leading names with direct exposure, according to an ETFs analyst
▼ + stars: | 2023-02-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

There are mature, large-cap companies that investors could stick to for exposure to the sector. A sudden interest in artificial intelligence has brought the more than decade-old technology to the forefront of investors' minds. It has additional ETFs focused on sectors that will be heavily impacted by AI including the Cloud Computing ETF (CLOU) and Cybersecurity ETF (BUG). They are broken down into innovators, early adopters, early majority, late majority, and finally, the laggards. Mature companies like Microsoft that are developing AI use cases could move AI into a mature stage rapidly.

☆ Elon Musk is currently working for Tesla for free. That could be about to change
▼ + stars: | 2023-02-20 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —For the moment at least, Elon Musk is working at Tesla for free. And last month the company disclosed Musk received the last remaining block of options granted under an even more lucrative 2018 pay package. Tesla stock closed Friday at $208.31. Still, some believe that the Tesla board could soon announce a new pay package for Musk. Some Tesla shareholders challenged the 2018 deal in a Delaware court, even though it was overwhelmingly approved by shareholders at that time.

☆ Lyft posts worst trading day ever after grim earnings report shows the company falling behind Uber
▼ + stars: | 2023-02-10 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Lyft plunged 36% on Friday after the company posted a disappointing Q1 revenue forecast. The ride-hailing brand expects $975 million in revenue during the period, missing estimates of $1.09 billion. Elsewhere, Uber reported its strongest quarter ever with revenue up 49% year-over-year. The company said it expects to generate around $975 million in revenue during the first quarter of 2023, missing analyst estimates of $1.09 billion. Lyft exceeded Wall Street's expectations for fourth-quarter revenue at $1.18 billion, compared to estimates at $1.16 billion, according to Refinitiv.

☆ Microsoft to infuse software with more AI as Google rivalry heats up
▼ + stars: | 2023-02-07 | by ( Jeffrey Dastin | ) www.reuters.com time to read: +2 min

Microsoft is staking its future on AI through billions of dollars of investment. Working with the startup OpenAI, the company is aiming to rival Alphabet Inc's (GOOGL.O) Google and potentially claim vast returns from tools that speed up all manner of content creation, automating tasks if not jobs themselves. “This technology is going to reshape pretty much every software category," said Microsoft Chief Executive Satya Nadella, in a briefing for reporters at Microsoft headquarters in Redmond, Washington. "Microsoft is looking to win this AI battle," he said in a research note on Monday. Last week Microsoft announced the startup's AI will generate meeting notes in Teams, its collaboration software, as well as suggest email replies to vendors using its Viva Sales subscription.

☆ Microsoft packs Bing search engine, Edge browser with AI in big challenge to Google
▼ + stars: | 2023-02-07 | by ( Jeffrey Dastin | ) www.reuters.com time to read: +4 min

Microsoft is staking its future on AI through billions of dollars of investment as it directly challenges Alphabet Inc's (GOOGL.O) Google. “This technology is going to reshape pretty much every software category," Microsoft Chief Executive Satya Nadella told reporters in a briefing at Microsoft headquarters in Redmond, Washington. On Monday it unveiled a chatbot of its own called Bard, while it is planning to release AI for its search engine that can synthesize material when no simple answer exists online. PRACTICAL USESAt the event, Mehdi demonstrated how the AI-enhanced search engine will make shopping and creating emails much easier. For the quarter ending Dec. 31, Alphabet reported $42.6 billion in Google Search and other revenue, while Microsoft posted $3.2 billion from search and news advertising.

☆ Baidu, the Chinese search engine giant, announces ChatGPT-style AI bot
▼ + stars: | 2023-02-06 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Chinese search engine giant Baidu says it will be launching its own ChatGPT-style service. It will launch a new artificial intelligence chatbot called “Wenxin Yiyan” in Chinese, or “Ernie Bot” in English, a spokesperson told CNN on Tuesday. Baidu (BIDU) is currently testing the project internally and will likely roll out the service to users in March, the person said. The company did not provide further details, such as how the tool would look or whether it would appear as a feature within its popular search engine. Baidu’s AI investments can be seen as “both an offensive and defensive strategic move in China,” Daniel Ives, managing director of Wedbush Securities, told CNN.

☆ Meta's layoffs were expensive — it may have spent more than $88,000 per employee to cut 11,000 from the ranks
▼ + stars: | 2023-02-02 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Facebook CEO Mark Zuckerberg cut 13% of the company's workforce in November. Facebook/MetaIn November 2022, Meta laid off more than 11,000 employees, or 13% of its workforce. It's possible the company spent around $88,000 a person in cutting those employees. The number comes from dividing the $975 million that the company paid in "Severance and Other Personnel" costs by 11,000, approximately the number of employees the company cut in November. In the company's fourth-quarter earnings release posted Wednesday, CEO Mark Zuckerberg warned that Meta's management theme for 2023 was 'Year of Efficiency.'

☆ Analysis: Tesla's price cuts promise more pain for money-losing U.S. EV startups
▼ + stars: | 2023-01-20 | by ( Akash Sriram | ) www.reuters.com time to read: +4 min

Tesla's move will "strengthen their ... competitive advantage over other automakers," CFRA Research analyst Garrett Nelson said. 'GAME OF THRONES' FOR EV STARTUPSBoth Rivian and Lucid have yet to turn a profit. Reuters GraphicsStill, Rivian had $13.8 billion in cash at the end of the third quarter - the most among the U.S. EV startups. "It's a 'Game of Thrones' battle for EV startups and they face some dire options over the next 12 to 18 months if they do not succeed in their financial targets," said Wedbush Securities analyst Daniel Ives. Rivian sells its R1T pickup truck at a starting price of $73,000 while its R1S SUV starts at $78,000.

☆ Tom Zhu: Elon Musk’s right-hand man at Tesla
▼ + stars: | 2023-01-04 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Tesla’s China chief has reportedly been given a big promotion. Tom Zhu, Tesla's executive in charge of China, speaks as a new Tesla experience store opens near West Lake on August 18, 2015 in Hangzhou, China. Zhu joined Tesla in 2014 and has been described as “pragmatic,” “industrious” and “a workaholic” by the Chinese media. Aerial view of Tesla Shanghai Gigafactory at Lingang New Area on July 11, 2021 in Shanghai, China. Tesla’s China successZhu’s reported promotion came after an impressive performance by Tesla’s China operations.

Hong Kong CNN —Production at the world’s biggest iPhone factory, disrupted since October by China’s Covid-19 restrictions and worker protests, is now running at nearly full capacity, according to a Chinese state media report. The sprawling campus in central China, owned by Apple (AAPL) supplier Foxconn, was running at 90% of planned production capacity at the end of December, the Henan Daily newspaper reported Tuesday. It cited an interview with Wang Xue, deputy general manager of the facility, which is also known as iPhone city. Gou’s office told CNN that it “denies the report and its contents.”Wang was quoted by the Henan Daily as saying iPhone City currently had about 200,000 workers on site. Analysts said the production woes at iPhone City would speed up the pace of Apple’s supply chain diversification away from China.

☆ Premarket stocks: The last time the US faced a debt fight this bad it lost its AAA rating
▼ + stars: | 2022-12-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

In a note on Monday, Goldman Sachs analysts warned that the upcoming debt limit battle in Washington could spark the most uncertainty since the disruptive 2011 debates that cost America its perfect AAA credit score and caused chaos on Wall Street. “To raise the debt limit next year, bipartisan support will be necessary but hard to achieve,” Goldman Sachs economists wrote in the report. Goldman Sachs analysts wrote that the political environment has “echoes of 1995 and 2011” — two very tense standoffs over the debt limit that hurt Main Street and Wall Street. Pain ahead: “It seems likely that uncertainty over the debt limit in 2023 could lead to substantial volatility in financial markets,” wrote Goldman analysts. “A failure to make timely payments would likely hit consumer confidence hard,” Goldman Sachs wrote.

☆ Foxconn restoring production at world's largest iPhone factory
▼ + stars: | 2022-12-05 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

The “epidemic situation” at the facility, known as iPhone City and normally home to hundreds of thousands of workers, has been brought under control, the Taiwanese contract manufacturer said in a statement on Monday. Its executives were quoted as telling Reuters that full production would resume between late December and early January. Analysts said the production woes at iPhone City would speed up the pace of Apple’s supply chain diversification away from China. In recent weeks, according to The Wall Street Journal, Apple (AAPL) has accelerated plans to shift some of its production outside China. If Apple moves aggressively, more than 50% of iPhone production could come from India and Vietnam by the 2025/2026 fiscal year, versus the single-digit percentage currently, he added.

☆ Apple is accelerating plans to move production out of China as protests and riots intensify in response to zero-Covid policies, report says
▼ + stars: | 2022-12-03 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Apple is increasing its efforts to shift production outside of China, according to the Wall Street Journal. Production at factories like Foxconn has taken a massive hit amid riots over zero-Covid policies. Shifting production will likely be difficult in the current global economic climate, sources told WSJ. In November, the area known as "iPhone City" erupted into violent protests among employees over withheld pay and strict zero-Covid policies that prompted a lockdown in Zhengzhou. The protests, which coincided with the start of the holiday shopping season in the US, have led to significant supply chain issues and shortages of Apple iPhone products.

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