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Micron Technology (MU) stock was one of the biggest decliners in the S&P 500 Monday after Morgan Stanley slashed its price target to $100 from $140 and gave a downbeat assessment of the memory chip sector.

The bank warned that although it's difficult to predict cyclical peaks, "both NAND and DRAM are losing steam, and our inflection signposts suggest chillier conditions from here."

The analysts wrote in a report to clients that while memory chip demand is still moving up, "the rate of change is approaching a peak as supply catches up to demand."

They added that they see the sector's earnings growth reaching the top and then reversing in the coming quarters, with a nearly 30% price-to-book (P/B) ratio contraction, "and a higher chance of investors resetting positions."

The analysts argued that even if valuations look good as stock prices fall, it doesn't make sense to buy the dips because they anticipate "better entry points in the future."

Shares of Micron Technology fell 4.5% Monday afternoon to $87.10. They are up about 2% in 2024.

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Sonia, the ex-wife of the popular ex-Nigerian footballer, Jude Ighalo, has reacted to rumors that the footballer is expecting a child with his lover.

Social media users had claimed that the footballer is expecting a child with a woman described as his “fiancé.’’

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The future of work might not look as different from its past as we once thought. 

In a message to Amazon.com (AMZN) employees, CEO Andy Jassy told the tech and retail giant’s workers that, starting next year, five days a week of in-office work would be the norm.

“Before the pandemic, it was not a given that folks could work remotely two days a week, and that will also be true moving forward,” Jassy wrote. “Our expectation is that people will be in the office outside of extenuating circumstances.”

Amazon’s quite-public announcement—it was published Monday on the company’s website—was the latest development in the post-pandemic evolution of the office. Many companies that were quick to embrace distributed workplaces enabled by technology have rolled things back, though some surveys indicate that remote and hybrid arrangements are still popular among both companies and employees.  

The company's news was part of a lengthy memo—“Hey team," it opened, "I wanted to send a note on a couple changes we’re making to further strengthen our culture and teams”—that also covered efforts to “flatten” the organization, root out “bureaucracy or unnecessary process,” and rework offices that had been reworked into flexible spaces to accommodate assigned desks.

Jassy’s message allowed for the possibility of exceptions, whether for immediate needs (like sick family members) or work-related contingencies (like travel or project-specific work) but made clear that the goal was to get people together. 

“If anything," he said, "the last 15 months we’ve been back in the office at least three days a week has strengthened our conviction about the benefits."

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Apple (AAPL) has received approval from the Food and Drug Administration (FDA) for all of its newest range of health features for its smart devices, which were announced during last week's launch event that also included the new iPhone 16.

The approval is for the sleep apnea detection feature in Apple's watchOS 11, the newest version of the software that runs its smartwatches and launches Monday. The sleep apnea feature will be usable on the Apple Watch Series 9 and Ultra 2, along with the Series 10 that was announced during last week's event.

The feature will monitor the movement of a user's arm for "small movements at the wrist during sleep that are associated with interruptions in normal respiratory patterns," as disruptions to breathing while asleep are the main symptom of sleep apnea, Apple said. The feature will monitor the movements on a monthly basis, and notify the user if it detects signs of potential sleep apnea, with information that can be taken to a medical professional to determine if a sleep apnea diagnosis is accurate.

Earlier this year, Apple's rival Samsung received FDA approval for its Galaxy Watch sleep apnea detection feature.

Last week, the FDA approved the first over-the-counter (OTC) hearing aid software device for use in Apple AirPods Pro.

Apple stock was down 3% at $215.82 Monday afternoon, as analyst reports about disappointing pre-order data for the iPhone 16 weighed on the tech giant's shares.

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Operatives of the Uyo Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, have arrested five suspected illegal Chinese miners at Ndito-Eka-Iba village, in Ibieno Local Government Area of Akwa Ibom State.

EFCC in a statement said the five alleged illegal miners were arrested by the “Special Task Force on illegal Mining” at the Commission’s Zonal office in Uyo, following credible intelligence on the illegal activities of foreign mining companies within Eket and Ibieno Local Government Areas of the state.

The arrested Chinese suspects are: Zhon Qinping arrested on September 10, 2024 at Ibieno Local Government Area, while Li Yi, Xie Bin, Chen Mou Zhou and Chen Zeng were arrested on August 29, 2024 at the same location.

They were all arrested at an illegal mining site of a mineral suspected to be ilmenite, a titanium-iron oxide mineral.

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