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Investopedia
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The European Commission has charged Apple (AAPL) with breaching its Digital Markets Act; Nvidia (NVDA) shares are extending their declines from late last week as Chief Executive Officer (CEO) Jensen Huang sells stock in the artificial intelligence (AI) darling; Broadcom (AVGO) is reportedly in talks with ByteDance, TikTok’s Chinese parent, to produce an advanced AI chip amid escalating geopolitical tensions with the U.S.; bitcoin (BTCUSD) is trading around $61,000 and dragging crypto-related shares like Robinhood Markets (HOOD), Coinbase Global (COIN), Marathon Digital Holdings (MARA), and Riot Platforms (RIOT); and China reportedly has told Germany the European nation’s luxury car manufacturers could benefit if Berlin convinces the European Union (EU) to drop tariffs on Chinese electric vehicle (EV) exports. U.S. stock futures are rising to start a week that follows one where the S&P 500 briefly hit the 5500 mark and Nvidia had a short-lived stint as world's most valuable company. Here's what investors need to know today.
Apple’s (AAPL) App Store rules are preventing app developers from “freely steering consumers” to other channels, the European Commission said, charging the iPhone maker with breaching its recently implemented technology law. The Commission said that in its preliminary view, Apple had violated its sweeping new Digital Markets Act law. Apple is the first company to be charged for failing to comply with the new law, aimed at opening up tech firms' business to broader competition. Separately, reported that Apple, which has lagged in the AI race, has held talks with rival Meta Platforms (META) about integrating the Facebook parent’s generative AI model into Apple Intelligence, the iPhone maker’s new system for the technology. Apple shares are little changed in premarket trading, while those of Meta are up less than 1%.
Nvidia (NVDA) shares are falling further, down more than 2% in premarket trading, after the artificial intelligence (AI) star briefly overtook Microsoft (MSFT) as the world’s most valuable company last Tuesday. According to Securities and Exchange Commission (SEC) filings over the past couple weeks, CEO Jensen Huang has been selling stock in the company. Nvidia shares, which have surged 164% this year on the wave of investor enthusiasm for all things AI, will be in focus this week ahead of its annual shareholder meeting on Wednesday. The chip designer is also reportedly supplying Middle Eastern telecommunications giant Ooredoo with its technology.
Broadcom (AVGO) is reportedly in talks with ByteDance, TikTok’s Chinese parent, to produce an advanced AI chip, an unusual tie-up at a time when the U.S. is trying to limit China’s access to cutting-edge semiconductors. Taiwanese semiconductor maker Taiwan Semiconductor Manufacturing Company (TSM) will produce the 5 nm chip, which would be compliant with U.S. export restrictions, according to which reported the negotiations. Broadcom already supplies ByteDance’s data centers with an older-generation AI processor. Broadcom shares are little changed in premarket trading.
Bitcoin (BTCUSD) continues to fall and is now trading around $61,000, well off the record of more than $73,000 set in March, after the SEC’s approval of ETFs based on the cryptocurrency turbocharged demand. Bitcoin has continued to lose ground even as cooler-than-expected inflation data has generally buoyed stocks. Bitcoin’s decline is weighing on cryptocurrency-tied stocks, with trading app Robinhood Markets (HOOD) falling 1.3% in premarket trading and cryptocurrency exchange Coinbase Global (COIN) declining 3%. Bitcoin miners Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) are also falling about 3% each.
China has told Germany the European nation’s luxury car manufacturers could benefit if Berlin convinces the European Union (EU) to drop tariffs on Chinese electric vehicle (EV) exports, reported. The EU announced plans to impose tariffs of up to 38.1% on imported Chinese EVs earlier this month, weeks after the U.S. said it would raise tariffs on Chinese EV imports to 100% from 25% this year. China currently imposes a 15% tariff on passenger vehicles from the EU and has suggested to Berlin it could lower its existing tariffs on large-engine cars in exchange for getting the European import levies scrapped, the report said.
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Instablog9ja
3 mths
14
Bandits have m¥rdered Professor Yusuf Saidu, the Deputy Vice-Chancellor of Research, Innovation, and Development at Usmanu Danfodiyo University, Sokoto (UDUS).
The school in a statement on Monday, June 24, said the late Saidu was att@cked and k+lled on his way to Kaduna from his Sokoto base.
The university described his passing as a significant loss, noting his integrity, religious devotion, dedication, and courage.
“May Allah accept his soul and forgive his sins. This is a painful loss to all members of the University community and the academia at large,” the statement added.
Investopedia
3 mths
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iPhone maker Apple (AAPL) has held discussions with its big tech rival Meta Platforms (META) to integrate the Facebook parent’s generative artificial intelligence (AI) model into its recently announced personalized AI system, Apple Intelligence, reported on Sunday.
Such a deal would allow Meta to leverage Apple’s vast distribution of users through its iPhones, similar to how software companies gain exposure to millions of potential customers through the tech behemoth’s App Store.
Apple, which recently partnered with ChatGPT owner OpenAI and said it wants to integrate with Google’s Gemini, has also discussed adding generative AI technology developed by startups Anthropic and Perplexity into Apple Intelligence, people familiar with the discussion told the adding that talks held with Meta haven’t been finalized and could fall through.
In its ongoing negotiations with potential AI partners, Apple hasn’t requested payment arrangements, the report said. Rather, the partnerships could work by the companies selling premium subscriptions to their services through Apple’s massive distribution network, with the iPhone maker receiving a cut of subscription revenue.
Although forging partnerships with companies that develop generative AI would reduce Apple’s reliance on OpenAI, it remains unclear how open the iPhone maker will make its new AI platform, given the company’s preference for a highly controlled closed ecosystem.
Below, we use technical analysis to identify key levels to watch on both the Apple and Meta charts.
While the 50-day moving average crossed above the 200-day MA to form a bullish golden cross pattern around the same time Apple shares broke out to a new record high earlier this month, the price has recently retraced, increasing the likelihood for further weakness this week.
Looking ahead, investors should monitor the key $197 level, an area where the price finds support from a horizontal line linking several prominent peaks over the past eleven months.
Since gapping more than 10% lower after issuing weak revenue guidance in late April, Meta shares have continued to trend mostly higher, closing the gap and climbing back above the 50-day MA.
If the stock moves lower, investors should keep an eye on the $446 level, an area where the price may find buying interest around a multi-month horizontal line. Conversely, an upside move may run into selling pressure near the stock’s all-time high (ATH) set in early April at $531.49.
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Instablog9ja
3 mths
10
A man has revealed that he ended his relationship of eight years after he discovered that live-in partner made him to father a male child that didn’t belong to him.
He recounted how they met and shortly after she got pregnant for him and he accepted responsibility for the pregnancy which made her move in with him, but he was left disappointed after DNA results revealed that his son wasn’t his.
How Netflix Is Taking A Page From Disney's Parks Playbook
As Disney (DIS), Comcast (CMCSA), A...
Investopedia
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12
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As Disney (DIS), Comcast (CMCSA), and other entertainment conglomerates work to catch up to Netflix's (NFLX) streaming dominance, Netflix is taking steps to expand its business by following rivals' parks success with its own experiences spaces.
Netflix said Tuesday it plans to open two permanent "Netflix House" entertainment venues in shopping malls in Dallas, Texas, and King of Prussia, Pennsylvania by next year. The locations will have themed experiences centered around popular Netflix shows like "Bridgerton," "Stranger Things," and "Squid Game," along with stores filled with Netflix merchandise and restaurants.
Netflix has created dozens of other temporary experiences themed around the streamer's most popular shows in a number of locations around the world, and the permanent Netflix Houses raise its bet on the live experience market.
"I think it's a good idea on their part, I think people want experiences, the experiential economy is soaring," IMAX CEO Richard Gelfond told CNBC's "Last Call" about the Netflix House announcement earlier this week.
However, Gelfond suggested Netflix could face difficulties trying new things that aren't part of its "core competencies," and said that running retail, restaurant, and merchandising operations require "a different skill set" than building a streaming company.
While the Netflix Houses won't have rides like Disney or Comcast's Universal theme parks, the streamer's bet on the money-making capabilities of in-person experiences suggests Netflix hopes to emulate the success of Disney and Comcast's experience-based revenue streams.
Netflix is keeping some parts of the traditional theme park experience by retaining retail and restaurant aspects, but opting for themed experiences around its own shows rather than amusement park staples like roller coasters. The Netflix Houses will also be "over 100,000 square feet" according to the company's release, a fraction of the size of outdoor theme parks like Disney's, which can cover hundreds of acres.
In recent quarters, Disney and Comcast have both expressed optimism about the gains they have seen in business at their respective parks, amid growing demand for experiences like concerts and theme parks.
Disney CEO Bob Iger said in an earnings call in March that the company's growth in the quarter was driven in large part by its experiences segment of theme parks and cruises as well as its streaming platforms, and said the company is "turbocharging growth" in the experiences division.
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Instablog9ja
3 mths
9
Nollywood actor, Ugezu has scolded media personality Ossai by letting him know that there is nothing wrong with Davido dressing in a non-Igbo attire for his photo with his bride Chioma.
This comes after Mr Ossai criticized Davido for donning Yoruba attire, despite his bride-to-be being of Igbo descent. According to Ossai, this choice not only disregards but also insults the cultural traditions of the Igbo people.
