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☆ A top-1% fund manager over the past 3 years shares how he's consistently outperformed throughout wildly different markets — and 8 of his favorite places to invest right now
▼ + stars: | 2023-06-09 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here are eight companies or areas of the market that Muhlenkamp said he's bullish on. Regardless of what's happened in the economy or markets, the veteran investor's namesake Muhlenkamp Fund (MUHLX) has found a way to dominate. Although energy stocks have since reversed to become the worst-performing sector of 2023, Muhlenkamp said he's stuck with the group while riding the broad rebound in technology stocks. Two other tech companies Muhlenkamp mentioned are semiconductor firms Broadcom (AVGO) and Microchip (MCHP). Outside of technology, Muhlenkamp said he continues to like stocks tied to housing and financials, including certain regional banks.

Persons: Jeff Muhlenkamp, Muhlenkamp, he's, I'd, Morningstar, Goldman Sachs, they've, they're, He's Organizations: Muhlenkamp, Apple, Microsoft, Apple Watch, Vision, Broadcom, Bank, Federal Locations: Regional

☆ The 'mother of all melt-ups' in stocks could be quickly followed by a meltdown as the bubble in overvalued names pops, Ed Yardeni says
▼ + stars: | 2023-06-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Stocks could face a meltdown as the bubble in firms riding the AI excitement pops, Ed Yardeni said. The current bull market in stocks is unusual, as they typically begin when valuations for firms are low, he said. But if stocks rise too quickly, it could spell trouble for the market as the bubble in overvalued names pops. That ratio is now around 18, largely due to the success of the eight mega-cap firms. High rates also risk tipping the economy into recession, experts warn, which is also likely to weigh on stocks.

Persons: Ed Yardeni, meltdowns, —, Yardeni Organizations: Service, Fox Business, Yardeni, Nvidia, Microsoft, & $

☆ Why AI wasn't mentioned at all during Apple's big WWDC presentation
▼ + stars: | 2023-06-06 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

Apple execs didn't mention AI once during the company's WWDC keynote. It was a deliberate choice and a stark contrast to other Big Tech companies that have embraced the term. During Microsoft, Meta, Alphabet, and Amazon's first quarter earnings calls in April, AI was cumulatively mentioned 168 times, for example. Most other Big Tech companies would likely tout these as "AI innovations" to appeal to the current enthusiasm around the term. The word wasn't mentioned one time during the entire keynote, even though many rivals would likely use the word to describe the Vision Pro headset.

Persons: —, Tim Cook, Apple execs, Amazon's, Cook, Apple, There's, Siri Organizations: Apple, Big Tech, Morning, Microsoft, Google Locations: Valley, Dutch

☆ Everyone is getting less productive, and that's a big problem for the economy
▼ + stars: | 2023-06-06 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +5 min

Even though the economy feels largely fine right now, such a decline has been a leading indicator of past recessions. Labor productivity has fallen for five straight quarters on a year-over-year basis, the longest such streak on record. Productivity is important to the economy because it's the primary input for a population's standard of living. As Insider reported in March, major retailers like Walmart, Target, and Kroger are locked in a labor-hoarding war over hourly employees that's pushed pay higher. In the meantime, the decline in productivity is setting off alarm bells for the economy.

Persons: —, Taylor Swift, they're, Larry Summers, Summers, Mark Zuckerberg, Marc Benioff, OpenAI's, there's, It's, Paul Tudor Jones, Ed Yardeni, Goldman Sachs Organizations: Service, Airlines, Bureau of Labor Statistics, Labor, Washington Post, Walmart, Target, Kroger, Stanford, MIT, Fortune, Brookings Institute

☆ A secretive annual meeting attended by the world's elite has A.I. top of the agenda
▼ + stars: | 2023-05-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Sam Altman, CEO of OpenAI, is one among a number of business and political leaders set to join the annual Bilderberg Meeting in Lisbon, Portugal. OpenAI CEO Sam Altman will join forces with key leadership from firms like Microsoft and Google this week as a secretive meeting of the business and political elite kickstarts in Lisbon, Portugal. Artificial intelligence will top the agenda as the ChatGPT chief meets with Microsoft CEO Satya Nadella, DeepMind head Demis Hassabis, and former Google CEO Eric Schmidt at the annual Bilderberg meeting. All in, around 130 participants from 23 countries are set to attend the private meeting — a similar number to previous years. However, the event's organizers say that the discrete nature of the event is to allow for greater freedom of discussion.

☆ Tech titans who are trying to live forever might soon have new ammunition: Next-gen anti-aging pills
▼ + stars: | 2023-05-18 | by ( Hilary Brueck | Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

These drugs tame "zombie cells" which can contribute to age-related diseases. New drugs could clear harmful zombie cells from the body entirely – but research is still ongoing. Metformin is among a class of drugs called "senomorphics," pills that are showing promise taming aging cells known as senescent cells. These are cells in the body that have stopped multiplying, yet don't die—earning them the nickname "zombie cells." For the rest of us, Kirkland says "things like exercise and dieting can reduce senescent cell burden as well."

☆ The CEO of a $900 million asset manager shares 6 stocks to buy to take advantage of the coming AI revolution — and explains how investors can diversify their holdings to capitalize on emerging tech tr
▼ + stars: | 2023-05-13 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

She also oversees the Defiance Quantum ETF (QTUM), which invests in quantum computing and machine learning companies. "They're clear leaders and no matter what happens, they'll invest in artificial intelligence, data pricing, machine learning, and quantum computing," she explained. "But even if that happens, you're still okay because you have the high-quality tech companies to hedge your basket … We look at it as balance plus opportunity." Besides the Defiance Quantum ETF (QTUM), other options include Global X Robotics & Artificial Intelligence ETF (BOTZ), the ALPS Disruptive Technologies ETF (DTEC), and the iShares Robotics and Artificial Intelligence Multisector ETF (ITRBO). Amazon (AMZN) is another stock that has been propelled higher thanks to its web services and machine learning division.

☆ Silicon Valley's Hail Mary moment
▼ + stars: | 2023-05-07 | by ( Linette Lopez | ) www.businessinsider.com time to read: +14 min

Silicon Valley has entered the Hail Mary phase of its business cycle — a desertic part of a tech-industry downturn where desperation can turn into recklessness. Don't fear the robotsTo understand the Hail Mary moment, it's important to understand the actual capabilities of technology these tech titans are touting. Again, what Musk is describing is AI general intelligence — something much more advanced than the generative AI OpenAI is building on at the moment. During the pandemic when governments were handing out cash and people were stuck at home, the world bought everything Silicon Valley was selling. But those are exactly the types of workers getting laid off in Silicon Valley right now.

☆ Jim Cramer breaks down earnings results from Big Tech titans with new stock group: M.A.M.A.
▼ + stars: | 2023-05-01 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Jim Cramer breaks down earnings results from Big Tech titans with new stock group: M.A.M.A. 'Mad Money' host introduces 'M.A.M.A.' to group together earnings from Big Tech titans Microsoft, Alphabet, Meta, and Amazon.

☆ Thinking of buying tech stocks? Here's how to manage risk, according to a fund manager
▼ + stars: | 2023-04-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Tech stocks were in bear territory for much of last year, but have been a bright spot so far in 2023 despite the uncertainty. Ben Rogoff, a portfolio manager at Polar Capital with 25 years of investing experience, has a strategy for mitigating risk when investing in growth stocks such as tech. A call option is a contract to buy a stock at a certain price at a set time in the future. The option value increases if the stock price rises above that set price. Other markets for tech Rogoff said although the U.S. is the dominant market for technology, he's also looking elsewhere.

☆ 3 ways the $800 billion AI explosion will boost Tesla's stock in the future
▼ + stars: | 2023-04-24 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +2 min

In a new note to clients, the firm looked at how the AI boom will impact the market's top tech titans. Detailed below are three ways Wedbush sees AI opportunities helping Tesla's stock in the future. Ives also has thoughts on how Musk's forays into AI can boost shares of his crown jewel: Tesla. He sees three ways its implementation can help drive stock gains in the future. "That could lead to further improvements of Tesla's supply chain by opening up limitless labor supply for production lines while improving its cost structure during a labor constrained environment," he wrote.

☆ A new book by a Pulitzer Prize winner unsuccessfully tries to take down the private equity industry and fixates on Leon Black. Here's what it gets wrong.
▼ + stars: | 2023-04-24 | by ( Jonathan A. Knee | ) www.businessinsider.com time to read: +7 min

The economic and political influence of the private equity sector has exploded in the last 20 years. It's true that few topics have attracted greater attention from not only crusading journalists but serious academics than the impact of private equity ownership. This supports their belief that private equity firms "carry very little risk if the company fails." This view of a "typical" private equity deal is simply untrue: Even back in 2005, the average loan-to-value percentage for new private equity deals was 68% — firms already contributed over 30% in equity to the deals not under 10% as claimed. 'Smart buyer, dumb seller'One of the important developments in private equity of the last decades has been the emergence of major private funds focused on technology investing.

☆ The 9 US cities with the most billionaires, from famous glitzy locales to newer hot spots for ultrarich residents
▼ + stars: | 2023-04-20 | by ( Dan Latu | ) www.businessinsider.com time to read: +2 min

The US is home to 770 billionaires, according to London-based consulting firm Henley & Partners. Here, the 9 US cities with the most billionaires, from the San Francisco Bay Area to Austin, Texas. Some of America's richest residents, though, choose quieter cities for their home bases. And one of America's fastest-growing cities — Austin, Texas — has emerged as a relatively new billionaire hot spot, counting nine as residents. Check out the full list of the US cities where the most billionaires live.

☆ The rise of AI will only make Big Tech more powerful, NYU researchers warn
▼ + stars: | 2023-04-19 | by ( Emilia David | ) www.businessinsider.com time to read: +5 min

That gives Big Tech companies an advantage. Last week, AI Now released a report detailing Big Tech's impact on AI development — finding that AI development has been "foundationally reliant" on resources controlled by Big Tech, including data and computing power. AI Now said Big Tech has also been positioned as a crucial part of the US-China race, giving them geopolitical importance. The report said much of the narrative around AI development has been shaped by Big Tech, from the idea that AI needs unrestricted innovation for social good to connecting AI development to societal progress. Myers West said better enforcement of antitrust laws and connecting competition with the concept of privacy could limit just how big Big Tech can get.

☆ Goldman recommends buying call options in these two tech titans before their earnings reports
▼ + stars: | 2023-04-13 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Goldman Sachs recommends clients buy call options on Apple and Microsoft ahead of each company's earnings reports in two weeks. For Apple, Goldman thinks the mobile app spending portion of the company will beat Wall Street expectations and service revenue will become the main force behind earnings growth. "While app spending growth has slowed, as we lap recent benefits from consumer stimulus and engagement benefits due to the pandemic he expects app spending to resume mid-teens growth in F2024." AAPL YTD mountain Apple could beat expectations in mobile app spending and boost shares as investors look toward earnings, according to Goldman Sachs. "AI-related 12 April 2023 3 Goldman Sachs Weekly Options Watch workloads can also provide a boost to Azure over time.

☆ LinkedIn cofounder says Elon Musk has an 'it's only great if I do it' mentality when it comes to ChatGPT
▼ + stars: | 2023-04-05 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

LinkedIn cofounder Reid Hoffman told CNBC the call for an AI slow down is a "mistaken effort." He said Elon Musk has an "it's only great if I do it" mentality when it comes to ChatGPT. Both Musk and Hoffman helped found OpenAI in 2015, but Musk left the company's board of directors in 2018 and has been critical of the company ever since. Despite his longtime friendship with Musk, Hoffman said he's "much more on the path that OpenAI has gone" when it comes to developing the technology. Spokespeople for Musk, Hoffman, and OpenAI did not respond to a request for comment ahead of publication.

☆ Leaders like Elon Musk want to pause AI development, but the power of the free market means it's impossible to stop
▼ + stars: | 2023-04-03 | by ( Emilia David | ) www.businessinsider.com time to read: +5 min

Elon Musk and other business leaders signed a letter urging a six-month pause in AI development. From the moment the public was allowed to start testing OpenAI's GPT-3 in November, there was no stopping the bullet train of generative AI development. And the power of market forces means that there's no stopping the pace of AI development, even if companies like OpenAI wanted to. The train has left the station, and there's no going backSince November, and arguably even before, generative AI has been the technology on everyone's lips. Even if we wanted to pause AI development, there's not a clear way to enforce itThere's also the problem of enforcement.

☆ Alibaba’s restructuring and Jack Ma’s homecoming are all part of China’s plan
▼ + stars: | 2023-03-29 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Ma is seen as a symbol of China’s tech industry and a barometer of the Chinese government’s support for private business. Alibaba’s restructuring is “part of [Beijing’s] strategy to shore up confidence in the private sector,” said Hong Hao, chief economist for Grow Investment Group. “[Alibaba’s restructuring plan] offers a way to limit monopoly power and platform sway,” Hong said. Unlocking valueInvestors and analysts have cheered Alibaba’s restructuring. Alibaba’s business will be split into six units: domestic e-commerce, international e-commerce, cloud computing, local services, logistics, and media and entertainment.

☆ Tech Companies Are Ruining Their Apps, Websites, Internet
▼ + stars: | 2023-03-27 | by ( Ed Zitron | ) www.businessinsider.com time to read: +13 min

Google, Amazon, Meta, and other tech companies have monetized confusion, constantly testing how much they can interfere with and manipulate users. Abandoning the core productIn the 2000s and early 2010s, tech companies actually produced new, interesting products. This fueled Silicon Valley's explosive growth: Companies saw their valuations soar, revenue growth was exponential, and new users were joining by the boatload. There are ways to integrate new technology into a core product that doesn't end in disaster. Netflix was able to iterate on their core product — letting people watch movies — in a way that actually made that experience better.

☆ RBC: Buy these 17 future AI winners as the technology begins to transform the world
▼ + stars: | 2023-03-26 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

RBC says that AI is one of the most transformative developments in tech in the last 20 years. The firm's tech analysts explained which stocks they think will benefit the most from generative AI. They added that in many cases, the "rising tide" of AI will benefit broad swaths of the market. But it's not just the established tech titans that can profit from the advent of AI technology. Those companies are below, along with their tickers and commentary about each provided by the RBC analysts.

☆ U.S. and China wage war beneath the waves – over internet cables
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +28 min

Three of China’s state-owned carriers – China Telecommunications Corporation (China Telecom), China Mobile Limited and China United Network Communications Group Co Ltd (China Unicom) – had committed funding as members of the consortium, which also included U.S.-based Microsoft Corp and French telecom firm Orange SA, according to six people involved in the deal. China Telecom, China Mobile, China Unicom and Orange did not respond to requests for comment. China Telecom, China Mobile and China Unicom were resolutely behind HMN Tech, which had come in with a bid of around $500 million. China Telecom and China Mobile threatened to walk off the project, taking tens of millions of dollars of investment with them. Among them is China Telecom, which had previously won authorization to provide services in the United States.

☆ DBS Bank discusses Sea Limited, Grab and GoTo
▼ + stars: | 2023-03-21 | 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 EmailUncertain if Southeast Asia's top 3 tech titans have enough capital to absorb small players: DBSSachin Mittal of the Singapore bank says it remains uncertain if Southeast Asia's top three tech "titans" — Sea Limited, Grab and GoTo — will have "enough capital to absorb these small players."

☆ Radio company SiriusXM cuts workforce by 8%
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

March 6 (Reuters) - SiriusXM Holdings Inc (SIRI.O) on Monday said it would lay off 8% of its workforce, or about 475 employees, as the satellite radio firm takes a hit from slow subscriber growth. Weak auto sales are also expected to hurt the radio operator's subscriber base. "Today's decision to reduce our workforce was required for us to maintain a sustainably profitable company," Chief executive Jennifer Witz said in a letter to staff. SiriusXM joins tech titans such as Microsoft Corp (MSFT.O) and Google-parent Alphabet Inc (GOOGL.O) that cut headcount by the thousands to weather a tough economy. In January, music streaming platform Spotify Technology (SPOT.N) also cut its workforce by 6%.

☆ China appears to be pulling another U-turn, saying it'll promote the use of AI in daily life just days after reports it blocked ChatGPT
▼ + stars: | 2023-02-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China said it sees broad potential in the use of AI tech and wants to integrate it into daily life. But that's amid reports China — which controls information tightly — blocked access to ChatGPT. It now wants to integrate the tech into daily life, just days after reports emerged that it had blocked its citizens from accessing viral AI chatbot ChatGPT. Search engine giant Baidu — China's answer to Google — said on Wednesday it plans to launch its own AI chatbot Ernie Bot in March. "AI technology has reached a tipping point and all industries will inevitably go through transformation," Li said in the memo.

☆ Retail investors flock to small-cap AI firms as Big Tech battles for share
▼ + stars: | 2023-02-07 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Retail investors are piling into small-cap firms that employ artificial intelligence amid intensifying competition between tech titans Google parent Alphabet and Microsoft to secure leadership in the next big driver of growth. The $3-billion AI software firm C3.ai was the fifth most actively traded on Fidelity's platform for small investors on Monday, while drawing record daily retail inflows worth $31.4 million, as per Vanda Research. "Small-cap firms have AI as a much larger part of their business than the larger ones," said Matthew Tuttle, chief executive officer of Tuttle Capital Management on the reason behind retail investors' focus on the smaller firms. SoundHound AI (SOUN.O), which offers a voice AI platform services, and Thailand's security firm Guardforce AI (GFAI.O) have more than doubled so far this year, while analytics firm BigBear.ai gained nine-fold in value. Google-owner Alphabet Inc (GOOGL.O) on Monday said it would launch a chatbot service Bard and more artificial intelligence for its search engine as well as developers.

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