tech
Amazon.com Inc (NASDAQ: AMZN) faced a slight decline in stock value today despite achieving record-breaking sales during Prime Day 2024, which saw customers spend over $14 billion across its platform. The eCommerce giant reported a surge in Prime members participating in this year’s event, marking a significant increase from previous years. Notably, shoppers showed a strong preference for both well-known brands like Apple and Dyson and smaller businesses such as TruSkin and Native Pet, underscoring a broad appeal across consumer segments. Amazon Prime Day 2024 highlights:Amazon revealed that i...
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As Microsoft Corp (NASDAQ) prepares to announce its fiscal fourth-quarter earnings on Tuesday, July 30, Wall Street analysts are optimistic about the company’s performance. Microsoft is expected to report strong revenue growth, driven by its Azure cloud services and Office suite, with a projected earnings per share (EPS) of $2.90. Analysts from Bank of America (BofA) see potential upside in Microsoft’s revenue, highlighting the strength of its key segments. What does the Wall Street think of Microsoft?Wall Street analysts forecast Microsoft to post Q4 revenue of $64.2 billion, representing a 1...
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Core Scientific Inc (NASDAQ: CORZ) has recently been garnering a lot of attention from financial analysts. On Wednesday, Cantor Fitzgerald initiated coverage of the company, assigning an “overweight” rating with a compelling $20.00 price target. This suggests a substantial upside of nearly 71% from the current stock price, signaling strong confidence in the company’s future prospects. Concurrently, today B. Riley Securities upgraded their rating on Core Scientific from Neutral to Buy, driven by the company’s strategic expansion into high-performance computing (HPC) hosting. The upgrade by B. R...
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A new chemical compound similar to minerals found in alkaline rocks has been discovered at Tokyo University of Science, potentially revolutionizing solid-state batteries for electric vehicles (EVs). This pyrochlore-type oxyfluoride, replacing sulfides as the electrolyte conductor, promises exceptional conductivity even at elevated temperatures. Researchers at Tokyo University of Science have identified a pyrochlore-type conductor that resolves a significant issue affecting other commonly studied types. Unlike sulfides, this new formula does not produce toxic hydrogen sulfide when exposed to ai...
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Match Group Inc (NASDAQ: MTCH) surged nearly 10% on Tuesday following the news of Starboard Value acquiring a 6.6% stake in the dating app giant. The move by Starboard, known for its aggressive shareholder activism, has ignited speculation about Match Group’s future, particularly around the possibility of a strategic sale if turnaround efforts falter. However, according to analysts at Wolfe Research, Match Group stock may already be on a path to a turnaround. Starboard wants Match Group to buy back stockJeffrey Smith of Starboard Value urged Match Group to focus on cutting costs to improve mar...
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James Vance’s recent nomination as vice president alongside Donald Trump has sparked speculation about its potential implications for Palantir (PLTR), a company deeply integrated into US government operations. Palantir, known for its pivotal role in government contracts and national defense technology, stands to benefit significantly from Vance’s political alignment. Palantir’s CEO, Alex Karp, has emphasized the company’s strategic importance in national defense, highlighting its partnerships with agencies like the CIA, NSA, and FBI. These collaborations underscore Palantir’s political sensiti...
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Kaspersky Lab, a renowned Russian cybersecurity company, will begin shutting down its US operations from July 20, 2024. This decision comes after the US Department of Commerce banned the sale and provision of Kaspersky’s products in the United States, citing national security concerns. The move ends nearly two decades of Kaspersky’s presence in the US market. Impact of the US ban on Kaspersky’s businessThe shutdown announcement follows a recent ban by the US Department of Commerce, which highlighted potential risks associated with Kaspersky’s software. US officials have expressed concerns that...
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Shopify Inc (NYSE: SHOP) has been rather flaccid while Amazon.com Inc (NASDAQ: AMZN) has been a darling since the start of 2024. But all it does is make SHOP a lot more attractive to own in July than its larger rival AMZN, as per Mark Mahaney – the head of internet research at Evercore ISI. Mahaney added Shopify stock to his list of long ideas today while Amazon shares were added to his tactical underperform list. Shopify stock has a 20% upside from hereMark Mahaney is bullish on Shopify as it’s a “best-in-class eCommerce platform”. His $75 price target on SHOP translates to about a 20% gain f...
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Rumble (RUM) and Trump Media & Technology (DJT) stocks went vertical this week as the election cycle took more turns recently. Rumble, a popular YouTube alternative, soared by over 20% after the Trump shooting and after he nominated JD Vance as his vice president pick. Vance, together with his friend Peter Thiel, have invested in Rumble. RUM vs DJT stocks Trump shooting and odds of winningThe RUM and DJT stocks bounced back as investors and analysts predicted that Donald Trump would win the upcoming general election. These odds jumped after Trump was shot by an assassin at a rally in Pennsylva...
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Super Micro Computer Inc (NASDAQ: SMCI) will replace Walgreens Boots Alliance Inc (NASDAQ: WBA) in the Nasdaq 100 on July 22, as per a press release on Monday. The Nasdaq 100 is an index comprising the largest 100 nonfinancial companies in the Nasdaq Composite. Supermicro stock is still down about 2.0% on Monday. Why is Walgreens losing its spot in Nasdaq 100?Nasdaq 100 requires member companies to maintain a minimum weighting of 0.1% of its market value that currently sits at over $20 trillion. Walgreens is losing its spot in the Nasdaq 100 as its stock has crashed more than 50% this year tha...
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