The once highly-anticipated Apple car project appears to have come to an end, with the tech giant pivoting towards investing more resources into generative AI. Despite this significant shift in strategy, stocks of major auto companies like Ford Motor, General Motors, and Tesla remained relatively unaffected. Lack of Concrete Details After reports from Bloomberg surfaced earlier … [Read more...] about Apple Abandons Car Project
Apple
Apple’s Credit Card Partnership with Goldman Sachs
Despite recent setbacks with its credit card, Apple's financial services ambitions remain intact. The Wall Street Journal reported that Apple is looking to end its credit card partnership with Goldman Sachs within the next 12 to 15 months. While many might see this as a sign of trouble, it's important to note that it is not indicative of a larger problem. The partnership … [Read more...] about Apple’s Credit Card Partnership with Goldman Sachs
Technology Stocks Rise on Mixed Jobs Data
Technology companies saw an increase in their stock prices as the latest jobs data created speculation that the Federal Reserve may begin cutting interest rates. The Labor Department reported that employers added 199,000 jobs last month, a slower rate compared to earlier in the year but consistent with pre-pandemic levels. After excluding the impact of autoworker strikes, the … [Read more...] about Technology Stocks Rise on Mixed Jobs Data
Epic Games’ Antitrust Victory Challenges App Store Models
Videogames developer Epic Games recently achieved a milestone victory in an antitrust case against Google. This decision has cast doubt on the app-store model adopted by major tech companies like Google-parent Alphabet and Apple. It also poses a significant challenge for other Big Tech peers who are seeking to displace them. Following the jury's verdict that Google maintains a … [Read more...] about Epic Games’ Antitrust Victory Challenges App Store Models
Apple Faces Downgrade Amid Weakness in Sales
Barclays, in a recent report, downgraded Apple, America's largest company by market capitalization. Analysts at the bank identified a decline in the sales of iPhones and Mac computers as a cause for concern. Tim Long, leading the team of strategists, revised the rating for Apple from Equal Weight to Underweight, setting a new price target of $160 (down from $161). The market … [Read more...] about Apple Faces Downgrade Amid Weakness in Sales
