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Sure enough, the next day began a historic ascent of Apple stock, an in-your-face rally that many thought made no sense. There's a coalescence of two themes, high speed, accelerated computing and increasingly intelligent AI, and neither works without Nvidia chips. I know that it seems impossible to ponder Nvidia's stock going any higher or passing Apple and Microsoft and staying ahead of it. Ask yourself, does any company match Jensen and Nvidia right now? I say let others be baffled over the Apple versus Microsoft versus Nvidia conundrum.
Persons: WWDC, Tim Cook, Tim, Claude, hasn't, Moore, Elon Musk, Nvidia's, Jensen Huang, Jensen, Ben Franklin, Franklin, Da Vinci, — Jensen, Steve Jobs, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Apple, Developers, Microsoft, Club, Dell, HP Inc, PC, Micron, Nvidia, Computers, Intel, AMD, Pentium, Taiwan Semiconductor Manufacturing Co, Franklin Institute, Oracle, Google, GTC Conference, Cisco, Jim Cramer's Charitable, CNBC Locations: Philadelphia, Rome, Jensen
At the time, he was bringing in between $25,000 and $30,000 a month from his personal real estate portfolio, he said. "I deployed that $7 million and bought about $25 million worth of property within 10 months," he told BI. His second fund closed at just under $24 million. "Put 5% down," he advised (many new investors get started with FHA loans that allow you to put down as little as 3.5%). If you maintain your current lifestyle, you can use those savings to buy a second property.
Persons: James Berkley, syndicator, Berkley, Organizations: Service, Business Locations: Boston, New York City, Worcester , Massachusetts, Worcester, Berkeley
Insider Today: Making junk food healthier
  + stars: | 2024-06-22 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +6 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Kylie Kelce and her husband, y'know, the former Philadelphia Eagles power player Jason Kelce, are outnumbered at home. Now, he's on a mission to develop new recipes for ultra-processed meals in the hopes they'll be healthier. Combine two steps with these 10 face moisturizers with SPF — and skip burned lips with a good SPF lip balm. More of this week's top reads:The Insider Today team: Joi-Marie McKenzie, editor in chief of life, in New York.
Persons: , Kylie Kelce, y'know, Jason Kelce, Ronnie Chua, Skip, Noah K, Murray, Michael Conroy, Jose A, Bacete, Tyler Le, Caitlin Clark, Clark, she's, Eminem, Darren Robb, Jenny Chang, Rodriguez, Chelsea Jia Feng, Kevin Hall, Hall wasn't, they're, Abanti Chowdhury, Taylor Swift, Scooter Braun, Max docuseries, Swift, Braun, Rebecca Zisser, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Grace Lett, Amanda Yen Organizations: Service, Philadelphia Eagles, Business, Mount, Getty, BBC Locations: Old Montreal, Quebec, Canada, Venice, Mount Fuji, Halkidiki, Thessaloniki, Paris, Montreal, Idaho, Maryland, Iowa, BBC America, New York, New York City, Chicago
The other is Nvidia , which for a time this week, surpassed Microsoft to become the largest company in the world by market cap. Nvidia has over 80% of the market for chips used to train and deploy AI software like ChatGPT. 100 on Interbrand's list for 2023 is Japanese camera maker Canon, with Dutch brewer Heineken at No. The risk for Nvidia, Silverman added, is that its "weak brand strength will limit how valuable it will be, despite its market cap heights." Gamers love itHowever, a competing survey shows that Nvidia's brand value is catching up to that of its peers.
Persons: Jensen Huang, Ann Wang, , Greg Silverman, Interbrand's, Silverman, Interbrand, Kantar BrandZ, Marc Glovsky, Philip Fong Organizations: Reuters Apple, Microsoft, Google, Nvidia, Disney, Netflix, Heineken, Apple, Windows, Samsung, Toyota, Mercedes, Benz, BMW, Nike, Intel, Hewlett Packard Enterprise, CNBC, Nintendo, AFP, Getty, chipmaker, Dell, Vanda Research Locations: Taipei, Taiwan, Korean
CNN —Saida Wurie said it was her parents’ lifelong dream to participate in Hajj, the religious pilgrimage that brings Muslims from around the world to Saudi Arabia each year. Speaking to CNN’s Whitfield on Saturday, Wurie said she had been in close contact with her parents while they were in Saudi Arabia via a family group chat. As of Saturday, diplomats have not committed to meeting them in person in Saudi Arabia, she said. Mecca, the holy city that is central for Hajj pilgrims, saw temperatures soar to a record-setting 125 degrees Fahrenheit on Monday. Fadel Senna/AFP/Getty ImagesBut CNN has spoken to other Hajj pilgrims who said the preparations weren’t enough, with one describing seeing fellow worshipers lose consciousness and walking past bodies covered in white cloths.
Persons: Saida Wurie, They’d, , , CNN’s Fredricka Whitfield, Wurie, Isatu Tejan, Alieu Dausy, Prince George’s County, CNN’s Whitfield, Arafat, Mount Arafat, Whitfield, Fadel Senna, Mina . Organizations: CNN, Kaiser Permanente, , Saudi Interior Ministry, US Embassy, General’s Office, US State Department, Saudi, Ahram Locations: Hajj, Saudi Arabia, Maryland, Bowie , Maryland, Kaiser, Prince George’s, Mina, Jeddah, Saudi, Mecca, AFP, Egypt, Saudi Arabian
"[It's] the first car-free neighborhood built from scratch in the U.S.," Ryan Johnson, CEO of Culdesac tells CNBC Make It. Mickey Todiwala. Mickey Todiwala. Mickey Todiwala. Mickey Todiwala.
Persons: Jada Stratman, Ryan Johnson, They're, Mickey Todiwala, I've, I'm, Stratman, who's Organizations: Culdesac, CNBC Locations: U.S, Tempe , Arizona, Culdesac
The situation could improve somewhat later this year, when the Federal Reserve is expected to begin paring back interest rates from a 23-year high, which should bring down mortgage rates. But Fed officials have penciled in just one rate cut for this year, and the days of ultra-low interest rates are long gone. Economists don’t expect the average mortgage rate to fall below 6% in 2024. However, there have been some steps in the right direction: Total housing inventory has steadily increased throughout this year, according to NAR data. New home construction also contributes to housing supply, but high interest rates seem to have pumped the brakes on homebuilding.
Persons: , Lawrence Yun, , don’t, That’s, NAR’s Yun Organizations: Washington CNN — Homes, National Association of Realtors, NAR, , Federal Reserve, Fed, Housing Locations: America
At least 14 Malaysians, 165 Indonesians, 68 Jordanians, 35 Pakistanis, 35 Tunisians, 11 Iranians and 98 Indians have died, according to authorities in each country. According to a CNN tally, this brings the latest official death toll for this year’s pilgrimage to at least 460. The death tolls are expected to rise much further, as Saudi Arabia and Egypt have yet to release official figures. The Bernama report did not specify if the dead were members of the country’s official Hajj delegation. The government is targeting 30 million pilgrims by 2030.
Persons: Mostafa Madbouly, Abdel Fattah el, Mecca Rafiq Maqbool, Mohd Na’im Mokhtar, , Arafat, Prophet Mohammed, King Salman bin Abdulaziz, Prince Mohammed bin Salman, Edward Szekeres, Handi Alkhshali, Aishwarya S Iyer Organizations: CNN, Jordanian Foreign Ministry, Crescent, Saudi, Reuters, Saudi Ministry of Health, Associated Press, AP Malaysia’s, Religious, News Agency, Hajj, India’s Ministry, External Affairs, Saudi General Authority, Statistics Locations: Mecca, Jordanian, Saudi Arabia, Egypt, Mina, Saudi
Leopatrizi | E+ | Getty ImagesMore built-for-rent single-family homes are being constructed in the U.S., according to the National Association of Home Builders, and experts say this is in part due to the housing affordability crisis. Construction began on about 18,000 single-family, built-for-rent homes in the first quarter of 2024, a 20% jump compared with the first quarter of 2023, according to NAHB, which analyzed data from the U.S. Census Bureau's Quarterly Starts and Completions by Purpose and Design. Single-family built-for-rent starts grew to 90,000 units in 2023, up from 81,000 units in 2022, the National Association of Realtors reported. The growing share of built-for-rent single-family homes is a response to demand from "people who can't afford today's very expensive, out-of-reach housing market," Lautz said. Homeowners are also responsible for shouldering "hidden costs" that aren't figured into a mortgage payment, such as maintenance, repairs, taxes and insurance.
Persons: Robert Dietz, Molly Boesel, Jessica Lautz, Lautz, NAHB's Dietz, Boesel Organizations: National Association of Home Builders, Census, Finance, JPMorgan, Trump, National Association of Realtors, Survey, U.S . Census, NAR, Mortgage, Association Locations: U.S
New York CNN —Nvidia’s eye-popping gains this year have helped propel the stock market to repeated record highs. Can Nvidia’s blockbuster gains continue, and what does its outsized market cap mean for the stock rally? Now everyone says, “the market is dependent on Nvidia’s earnings.” You’re going to see a kind of a shift in market cap over the years. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market.”Still, mortgage rates remain higher than anything seen in the decade before 2022, the year the Federal Reserve began to raise interest rates to combat inflation. The Fed doesn’t directly set mortgage rates but its actions do influence them through the benchmark 10-year US Treasury yield, which moves in anticipation of the Fed’s policy moves.
Persons: OpenAI’s, Bell, Christopher Barto, ” You’re, Bryan Mena, Freddie Mac, , Sam Khater, Freddie Mac’s, don’t, Read, Ilya Sutskever, Clare Duffy, Sutskever, Geoffrey Hinton Organizations: CNN Business, Bell, New York CNN, Nvidia, Microsoft, Fort Pitt Capital Group, Apple, Meta, Google, Amazon, , Federal Reserve, Treasury, Superintelligence Inc, SSI Locations: New York
Home prices hit record high in May as sales stall
  + stars: | 2024-06-21 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +1 min
watch nowSales of previously owned homes are sitting at a 30-year low and didn't move much in May as prices hit a new record and mortgage rates remain high. The sluggish sales pace came as rates took a big leap in April. David Ryder | Bloomberg | Getty ImagesSales were unchanged month to month in all regions except the South, where they fell 1.6%. At the current sales pace, there is now a 3.7-month supply. "Eventually, more inventory will help boost home sales and tame home price gains in the upcoming months.
Persons: Lawrence Yun, David Ryder, Yun Organizations: National Association of Realtors, Mortgage News, NAR, Bloomberg, Getty Locations: Issaquah Highlands, Issaquah , Washington, US
Washington CNN —Mortgage rates fell this week to their lowest level since early April, taking some pressure off America’s unaffordable housing market. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market.”Still, mortgage rates remain higher than anything seen in the decade before 2022, the year the Federal Reserve began to raise interest rates to combat inflation. Economists don’t expect the average mortgage rate to fall below 6% this year. Homebuilding constrained by high interest ratesWhile mortgage rates have eased recently, the US housing market overall remains hamstrung by elevated interest rates, which seem to be taking a toll on homebuilding. “Persistently high mortgage rates are keeping many prospective buyers on the sidelines,” NAHB Chairman Carl Harris said in a release.
Persons: Freddie Mac, , Sam Khater, Freddie Mac’s, don’t, America’s homebuilders, , Carl Harris, ” Skylar Olsen Organizations: Washington CNN —, , Federal Reserve, Treasury, National Association of Home Builders Locations: ., Wells Fargo, America, San Diego , Los Angeles and New York, California, Honolulu
That's pushed tech heavyweights and Club names such as Apple , Nvidia , Microsoft and Broadcom higher and the S & P 500 to record highs along with them. The market-cap weighted S & P 500, which we report on all time, has gained more than 4% since May 30. But, a version of the index that assigns each company the same influence, known as the S & P 500 Equal-Weight , has advanced only around 1%. The divergence helps explain why our trusted momentum indicator, the S & P Short Range Oscillator , has been closer to oversold territory than overbought during the run higher. Recent years haven't been so kind to them, with the stock underperforming the S & P 500 considerably over the past three years.
Persons: That's, Morgan Stanley, Wells, Banks, Abbott, We've, Lingo, Stanley Black, Decker, DuPont, DuPont —, Ed Breen, Lori Koch, Vimal Kapur, Jim Cramer, Darius Adamczyk, haven't, Jim Cramer's, Jim, Johannes Eisele Organizations: Apple, Nvidia, Microsoft, Broadcom, Wall Street, Federal, Abbott, Abbott Labs, Mizuho Securities, DuPont, Honeywell, Systems, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Wall, Afp, Getty Locations: Dover, Wells Fargo, Missouri, Abbott's, U.S, Decker, New York City
Artificial intelligence has been the subject of many recent conversations about investing in tech, with Nvidia, Alphabet and Microsoft grabbing headlines. Masters named telecommunications company Motorola Solutions , a company he says is "a very beautiful, solid, public safety-focused business." The rest of the businesses includes its video security and building command center units. He added that the company's video security and command center businesses are also gaining more traction in the market. Put that all together and you have a "very, very strong, high quality compounding business," Masters said.
Persons: Masters, CNBC's, Motorola's, You've Organizations: Nvidia, Microsoft, Trent Masters, Alphinity Investment Management, Masters, Motorola Solutions, MSI, Motorola, Land Mobile, CNBC, New York Stock Exchange
Friedrich Zoneaire Portable Air Conditioner (ZCP12DB) The dual-hose Friedrich Zoneaire Portable Air Conditioner did the best job cooling and was the quietest portable air conditioner we tested. Our review of the Friedrich portable air conditionerThe Friedrich Zoneaire has intuitive onboard controls, and pairs to an app for remote access. However, even the best portable air conditioner doesn't compare to your typical window air conditioner when it comes to energy efficiency. The top pick in our best portable air conditioner guide is the LG Dual Inverter Smart WiFi Portable Air Conditioner (LP1419IVSM). If a window air conditioner sounds appealing, get buying advice from our best air conditioner guide.
Persons: Friedrich, Friedrich Zoneaire, James Brains, cranking, I'd, Friedrich Zoneaire —, Friedrich AC doesn't, Friedrich Chill Premier Organizations: Business, Madison, ARC, Friedrich, isn't Energy, Amazon Alexa, LG, Friedrich Chill, Friedrich Chill Premier Air
I've tested more than 40 air fryers, including 11 compact units, and the best small air fryer you can buy is the Dreo Aircrisp Pro Air Fryer. Dreo Aircrisp Pro Air Fryer The Dreo Aircrisp Pro Air Fryer is the best compact air fryer we tested, making it perfect for single servings of wings and fries. Cooking performanceThe Dreo Aircrisp Pro Air Fryer produced fast food restaurant-quality fries from frozen in nine minutes. The bottom lineWhile it has its negatives, the Dreo Aircrisp Pro is the best small air fryer you can buy, according to my testing. James Brains/InsiderBased on my testing, the Dreo Aircrisp Pro is the best small air fryer you can buy.
Persons: fryer, Pro Air Fryer, Fries, Presets, James Brains, Maillard, Crisp, Jen Gushue Organizations: Business, Pro Air, Pro, Amazon
Kaspersky Internet Security software is seen at the store in Krakow, Poland on December 30, 2021. A spokesperson for the Commerce Department declined to comment, while Kaspersky Lab and the Russian Embassy did not respond to requests for comment. Previously, Kaspersky has said that it is a privately managed company with no ties to the Russian government. The new restrictions on inbound sales of Kaspersky software, which will also bar downloads of software updates, resales and licensing of the product, kick in on Sept. 29, 100 days after publication, to give businesses time to find alternatives. If it only adds the Russian entity, the impact will be largely reputational.
Persons: Biden, Trump, Kaspersky, Donald Trump Organizations: Commerce Department, Russian Embassy, Biden, Department of Homeland Security, Kyiv, U.S, Reuters, Piaggio, Qatar Olympic Committee Locations: Krakow, Poland, United States, U.S, Russian, Moscow, Ukraine, Russia, China, New U.S, Massachusetts, Spain
Chang emphasized the need to strengthen the extended deterrence power of the South Korea-US alliance and the South Korea-US-Japan security cooperation system to address North Korea’s nuclear weapons and missiles. Currently, South Korea’s policy is not to provide lethal weapons to Ukraine. Nikoletta Stoyanova/Getty ImagesReports from earlier in the war say South Korea may have provided 155mm artillery shells to the United States to replace 155mm rounds sent to Ukraine. “Public reports suggest South Korea has around 3.4 million 105mm artillery shells,” the CSIS report said. Earlier on Thursday, Japan’s Chief Cabinet Secretary Yoshimasa Hayashi also expressed strong concern about the agreement signed by Russia and North Korea.
Persons: Vladimir Putin, Kim Jong Un, , ” Putin, Kim, Chang Ho, , ” Chang, Chang, Putin, Nikoletta Stoyanova, Yoshimasa Hayashi, Putin “, ” Hayashi Organizations: CNN, Democratic People’s, DPRK, UN Security Council, CNN South, National Security, Korean, 57th Motorized Brigade, Getty, Center for Strategic, International Studies, , CSIS, UN, Japan’s Locations: Korea, Ukraine, Seoul, Russia, North Korea, DPRK, Democratic People’s Republic, Republic of Korea, South, South Korea, Japan, Vovchansk, Kharkiv Region, United States, Kyiv, Vietnam, Ukrainian
Vitamix recalls almost 570,000 blender parts
  + stars: | 2024-06-20 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +2 min
After dozens of reports of lacerations from exposed blades, Vitamix announced a recall of about 569,000 blending containers and blade bases for its high-powered blenders. All affected customers should immediately stop using the recalled parts, the company said, and contact Vitamix for a repair kit. Vitamix instructed customers who repaired their blenders in the 2018 recall to stop using those blender parts as well. The recall affects all Ascent and Venturist Series 8-ounce blending containers, 20-ounce blending containers, and blade bases. Ascent blenders can retail for up to $749.95 and the Venturist V1200 can retail for up to $549.95 on the Vitamix website.
Persons: Vitamix, Williams Organizations: New, New York CNN, CNN, Consumer Product Safety, Costco, Walmart, QVC Locations: New York, Target, Williams Sonoma
Stifel raised its price target on Nvidia to $165, implying more than 20% upside. Analyst Andrew Boone also set a price target of $38, corresponding to a nearly 22% increase from Tuesday's close. — Lisa Kailai Han 6:06 a.m.: Stifel raises its price target for shares of Nvidia Stifel raised its price target for Nvidia in a recent note. Roy added that his new price target was also based on his new earnings estimate for the fiscal year 2027. — Lisa Kailai Han 6:06 a.m.: KeyBanc raises Meta Platforms price target Strong ad momentum will drive more gains for Meta Platforms shares, according to KeyBanc.
Persons: Stifel, Piper Sandler, Kumar, Harsh, — Lisa Kailai Han, Andrew Boone, Life360, Boone, Nvidia Stifel, Ruben Roy's, Roy, Lisa Kailai Han, Justin Patterson, Patterson, Meta, Fred Imbert Organizations: CNBC, Nvidia, Devices, AMD, Life360, Automotive, Meta Locations: Tuesday's, Meta
This is according to a detailed internal document obtained by Business Insider that reveals a host of new information and insights about Amazon's book business and the broader publishing landscape. Reliable data on this industry is limited or tightly controlled, so it's sometimes difficult to get handle on the scope of the book business. "Monopoly power"Amazon's book business has drawn antitrust scrutiny over the years. The company doesn't publicly disclose book sales, nor does it give a revenue breakdown of each retail category. The US accounts for over half of the salesThe document reveals a few staggering numbers that show how big Amazon's book business is.
Persons: , John Warren, George Washington University's, doesn't, Lindsay Hamilton, Noble, Warren, Hamilton Organizations: Service, Business, Amazon, Federal, American Booksellers Association, FTC, Justice Department, BI, GMS, Barnes, Costco, Pew Research Center, George Washington University Locations: Germany, Japan, France, Italy, Spain, Australia
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewBoeing and the Trump Administration struck a $3.9 billion deal in 2018 to replace the country's aging 747 presidential fleet with two new Air Force One planes. AdvertisementAt the time, the USAF provided a one-year buffer for the planes' delivery, pushing the second's delivery to as late as 2028. In 2022, the Wall Street Journal reported that continuing to fly the old fleet may cost taxpayers $390 million. The new VC-25B program, based on the 747-8i, will replace the Air Force's current VC-25A fleet.
Persons: , Dave Calhoun Organizations: Service, Boeing, Trump Administration, Air Force, Breaking Defense, Business, USAF, Business Insider, Wall Street Journal, Air Force's, Department of Defense
The market is underestimating one corner of artificial intelligence, according to Morgan Stanley. The innovation in the sector is set to drive AI chip capabilities, said Morgan Stanley. Morgan Stanley says it sees "outsized winners" in Japan, South Korea and the European Union. Taiwan TSMC : Morgan Stanley noted the Taiwanese semiconductor firm is a major provider of CoWoS technology, a type of packaging technology. Japan Morgan Stanley says it favors Disco and Advantest the most out of all the companies in Japan that are producing equipment for advanced packaging.
Persons: Morgan Stanley, That's, Amkor, TSMC, — CNBC's Michael Bloom Organizations: Engineers, European Union, United, Semiconductor Assembly, Test Services, Apple, ACM Research, SK Hynix, SK Hynix's Locations: Japan, South Korea, United States, Arizona, Taiwan
Dubai CNN —Dozens of people have died and thousands have been treated for heatstroke while performing the annual Muslim Hajj pilgrimage to Mecca amid extreme temperatures of up to 49 degrees Celsius (120 degrees Fahrenheit). At least 41 Jordanians, 35 Tunisians and 11 Iranians are among the dead, according to authorities in each country. Additionally, the governments are only aware of pilgrims who have registered and traveled to Mecca as part of their country’s quota – more deaths are feared among unregistered pilgrims. While deaths among pilgrims are not uncommon (there were more than 200 last year), this year’s gathering is being held amid particularly high temperatures. On Monday, Saudi Arabia advised pilgrims against performing the ‘stoning of the devil’ ritual between certain hours after temperatures reached an extreme 49 degrees Celsius (120 degrees Fahrenheit).
Persons: Handi Alkhshali Organizations: Dubai CNN, Crescent, Saudi, Saudi General Authority, Statistics Locations: Dubai, Mecca, Saudi Arabia, Egypt, Kingdom
What to Know About Suicides in the U.S. Army
  + stars: | 2024-06-19 | by ( Janet Reitman | ) www.nytimes.com   time to read: +2 min
The Army’s suicide rate has risen steadily even in peacetime, and the numbers now exceed total combat deaths in the Iraq and Afghanistan wars. Here’s what you need to know about the Army’s suicide crisis:The size and psychological strength of the Army has declined. After the Vietnam War, the Army went through a period of recalibration, a slowing-down that allowed leaders to take stock of their troops and assess their strategies. This requires that the Army be able to deploy anywhere, at any time, for any reason. The Army’s mental-health care system is broken.
Persons: Organizations: Times, Army, Behavioral Health, Fort Riley Locations: Iraq, Afghanistan, Austin, Fort Riley, Kansas, Vietnam, China, Russia, Fort
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