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May 12 (Reuters) - Elon Musk's appointment of a new Twitter chief may free up the billionaire from a major distraction and allow him to focus more on Tesla Inc (TSLA.O), analysts said on Friday. Tesla shares, which have gained 40% this year, reversed course to trade down about 2% as broader markets fell. The stock had its worst year in 2022, losing 65%, amid Musk's on-again, off-again offer for Twitter. Although Twitter has taken much of Musk's time since its takeover, he still actively manages several other businesses such as SpaceX and Neuralink. Musk recently formed an AI company called TruthGPT to take on OpenAI's ChatGPT and Alphabet Inc's (GOOGL.O) Bard.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Deepwater Asset's Gene Munster on Google's I/O eventGene Munster, Deepwater Asset Management, joins 'Power Lunch' to discuss big tech's battle for the A.I. CNBC's Julia Boorstin joins to report on the future of Metaverse.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle making search the starting point for its generative A.I. tools, says Deepwater's Gene MunsterGene Munster, Deepwater Asset Management, joins 'Power Lunch' to discuss big tech's battle for the A.I.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple can continue to grow its active installed base, says Deepwater Asset's Gene MunsterGene Munster, Deepwater Asset Management managing partner, joins 'Squawk Box' to discuss Warren Buffett's praise of Apple, the company's stock outlook, and more.
During Apple's earnings call on Thursday, Cook said that Apple set a "quarterly record" for its India business and saw "very strong, double digits year-over-year" growth. In its fiscal second quarter, Apple reported total revenue of $94.84 billion. Gene Munster, managing partner at Deepwater Asset Management, told CNBC Thursday he estimates India accounts for just under 3% of Apple's total revenue. India's smartphone market is dominated by low-cost Android phones, such as those offered by Samsung and Chinese players like Oppo and Xiaomi. This category of smartphones accounts for 35% of total smartphone market revenue.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple CEO Tim Cook laying groundwork for India 'to be bigger than China', says Deepwater's MunsterGene Munster, Deepwater Asset Management managing partner, joins 'Fast Money' to talk Apple earnings, the stock reaction, and more.
Digging deeper into the gains, Nvidia turns up as a big winner. Meta Platforms shares have doubled. If the Fed signals a pause Wednesday and rates fall, the market could see tech stocks rip higher. To be sure, other factors besides for AI have contributed to this year's rally in technology stocks. Jason Tauber, a portfolio manager at Neuberger Berman said AI stocks should start to experience bifurcation from here on out.
Tuesday's selloff in Chegg shares exposed some investors to the dark side of artificial intelligence, igniting concerns about how the latest technology craze may be putting some companies' revenue sources in danger. CHGG 1D mountain Chegg shares plummet on AI risks While Chegg may be the first shoe to drop, it's certainly not the last company set to showcase some of the risks posed by AI. Elsewhere, Deepwater Asset Management's Gene Munster sees potential risks ahead to some consulting companies known to outsource work for other businesses. Companies operating off of seat-based models, such as human resources companies, may face headwinds from declining headcount, but could benefit long term from optimizing AI, he added. To be sure, even the largest companies dominating the space and poised to prosper from AI face risks ahead.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis new service could add 15% to Meta revenues: Deepwater's MunsterGene Munster, Deepwater Asset Management, on Meta's earnings after the company posted better-than-expected revenue with CNBC's Melissa Lee and the Fast Money traders.
Morgan Stanley estimates that in 2022, only 23% of the $4.3 trillion of U.S adjusted retail spending was online. Add in AI, which can drive better shopper experiences or better conversion, it could bump to 9% or possibly 10% CAGR, he said. Eventually, AI can help retailers pitch tailored products to each potential customer based on their prior history. You might see it in the member services experience in having a better opportunity to get customer support," he said. As retailers move ahead in their plans to integrate AI into their business, some will build the capabilities.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk inspired Zuckerberg to reduce Meta's headcount, says Deepwater's Gene MunsterGene Munster of Deepwater Asset Management discusses reports that Meta will slow hiring and consider future layoffs. Hosted 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.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla shares volatile after hours following Q1 earnings reportGene Munster, Deepwater Asset Management Managing Partner, on Tesla shares after the company reported earnings today with CNBC's Melissa Lee and the Fast Money traders.
Bull case for Tesla after EV maker's revenue beats
  + stars: | 2023-04-19 | by ( Melissa Lee | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBull case for Tesla after EV maker's revenue beatsGene Munster, Deepwater Asset Management Managing Partner, on Tesla shares after the company reported earnings today with CNBC's Melissa Lee and the Fast Money traders.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk's $14 trillion warning: Tesla CEO unveils 'master plan' for renewable energyHosted 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. Gene Munster, Deepwater Asset Management; Gordon Johnson, GLJ Research CEO; and founder Chris Wright, Library Energy CEO, join the show to discuss Elon Musk's 'master plan' to reform the world's energy infrastructure.
After the worst year for tech since 2008 , many investors questioned whether the market could move higher in the new year without the sector's cooperation. Names such as Apple , Microsoft and Amazon gained about 27%, 20% and 23% in the first quarter, respectively, as yields pushed lower. Amid this backdrop, Alphabet shares gained 17.6% in the first quarter as the company launched it's Bard chatbot rival. Not all investors view big tech so optimistically heading into the new quarter. Much of the surge in tech stocks stems from the oversold conditions created during 2022's carnage, positioning many of these stocks for a bounce, Meeks said.
Has Nvidia come too far too fast?
  + stars: | 2023-04-04 | by ( Melissa Lee | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHas Nvidia come too far too fast? Gene Munster, Deepwater Asset Management, on the Nvidia trade with CNBC's Melissa Lee and the Fast Money traders.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix's password crackdown will be a short-term tailwind, says Deepwater's Gene MunsterGene Munster, Deepwater Asset Management managing partner, joins 'Power Lunch' to discuss the streaming wars and Netflix's fight for subscribers.
TikTok, ByteDance spent $13M on U.S. lobbying campaign
  + stars: | 2023-03-31 | 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 EmailTikTok, ByteDance spent $13M on U.S. lobbying campaignCNBC's Brian Schwartz and Gene Munster, Deepwater Asset Management managing partner, join 'Power Lunch' to discuss Congress' attempt to ban TikTok.
Experts attribute Apple's stability and durability to CEO Tim Cook's steady leadership style. Experts say that Cook, not Twitter's Elon Musk, is the model that more execs should look to. The lessons CEOs can learn from Cook, the experts say, are that quiet prudence and practicality are always in fashion. By contrast, Cook's approach at Apple is often described as "pragmatic" and "risk averse," as Insider previously reported. Some workers see it as a precursor to the company firing employees who don't meet the requirement, Bloomberg reported.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what Apple CEO Tim Cook's visit to China means for the company and stockGene Munster, managing partner at Deepwater Asset Management, joins 'Squawk Box' to discuss Apple CEO Tim Cook's visit to China, what investors should do with Apple's stock, and more.
A TikTok ban is bound to happen eventually, according to Deepwater's Gene Munster. A ban could spell trouble for US stocks with business in China, which might retaliate. Munster predicted the Biden administration could allow TikTok to stay this year, in order to quell escalating tensions between the US and China. And while a TikTok ban initially seems like a positive for US rivals like Meta's Reels, the House committee showed a large concern over the app's addictiveness and its consequences on teen mental health. "When TikTok gets banned I think Meta will come back into the spotlight and have to answer the same questions that TikTok was asked."
'TikTok ban coming,' says tech watcher Gene Munster
  + stars: | 2023-03-23 | by ( Melissa Lee | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'TikTok ban coming,' says tech watcher Gene MunsterGene Munster, Deepwater Asset Management, digs in on what TikTok means for U.S. social media stocks. With CNBC's Melissa Lee and the Fast Money traders, Karen Finerman, Tim Seymour, Guy Adami and Dan Nathan.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix surges to best day of 2023 on password sharing crackdown in CanadaGene Munster, Deepwater Asset Management, digs in on what TikTok means for U.S. social media stocks. With CNBC's Melissa Lee and the Fast Money traders, Karen Finerman, Tim Seymour, Guy Adami and Dan Nathan.
Potential government action against Chinese social media giant TikTok could result in backlash that damages U.S. companies, according to traders and guests on CNBC's " Fast Money ." TikTok CEO Shou Zi Chew testified before Congress on Thursday, taking heat from both sides of the aisle. Shortly before the TikTok hearing, a China Ministry of Commerce spokesperson said the country would "resolutely oppose" a forced sale, the Associated Press reported. But the companies in the crosshairs are clearly names like Starbucks , McDonald's , and Apple 's at the top of that list. As you watch this, you see there is a huge concern about the addictive aspects of short format video and social media.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple is probably the safest place to be when it comes to navigating the next 6 months: Gene MunsterGene Munster, managing partner at Deepwater Asset Management, joins 'Squawk Box' to discuss whether the recent news from the banking sector has changed Munster's tech outlook, Foxconn's recent warning on consumer electronic demand, and more.
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