Investors3
2 days ago
Apple supplier TDK says battery breakthrough can deliver higher performance for wearables
Monday, June 17, 2024 9:37 am
No Comments
Japanese electronic parts maker TDK on Monday said it had successfully developed a material for its solid-state batteries that can be utilized in various devices that come into direct contact with the human body. Some of the main features of TDK’s technology include the use of oxide-based solid electrolytes, which the company says makes them “extremely safe.”
TDK successfully developed a material for CeraCharge, a next-generation solid-state battery with an energy density of 1,000 Wh/L, approximately 100 times greater than the energy density of TDK’s conventional solid-state battery.
TDK’s technology is aimed at a solution that can be utilized in various wearable devices, such as wireless earphones, hearing aids and even smartwatches, with the goal of replacing existing coin cell batteries.
Utilizing TDK’s proprietary material technology, TDK has managed to develop a material for the new solid-state battery with a significantly higher energy density than TDK’s conventional mass-produced solid-state batteries (Type: CeraCharge) due to the use of oxide-based solid electrolyte and lithium alloy anodes. The use of oxide-based solid electrolyte makes batteries extremely safe. It is intended for use in wearable and other devices that come in direct contact with the human body.
The battery can be applied for replacing coin cell primary batteries in compliance with EU battery regulations, which require them to be replaced by rechargeable batteries, which is expected to contribute to the reduction of environmental impact.
TDK will strive to develop the battery cells and package structure design and advance toward mass production, targeting the development of its new product, the solid-state battery. Moreover, TDK aims to enhance the capacity of the batteries through multi-layer lamination technology and expand its operating temperature range by applying the production engineering technology TDK has accumulated in the electronic components business.
Main applications
• Various wearable devices such as wireless earphones, hearing aids and smartwatches
• Environmental sensors
• Replacement of coin cell batteries
Main features and benefits
• The use of oxide-based solid electrolyte makes battery extremely safe
• Smaller size and higher capacitance contribute to smaller device size and longer operating time
MacDailyNews Take: Potentially good news for Apple AirPods and Apple Watch users!
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https://macdailynews.com/2024/06/17/apple-supplier-tdk-says-battery-breakthrough-can-deliver-higher-performance-for-wearables/
Investors3
1 week ago
Apple Showcases AI at WWDC 2024, Nvidia Stock Split Starts Today, and More News
June 10 2024 - 7:29AM
IH Market News
Apple (NASDAQ:AAPL) – At today’s Apple Developer Conference (WWDC 2024) kicking off today, the company will demonstrate its prowess in the advanced field of artificial intelligence. Despite being an early adopter of AI with products like Siri, Apple now faces a perception of trailing behind competitors following innovations like ChatGPT. Throughout the event, Apple will unveil significant AI improvements, including a new version of Siri and expanded functionalities for digital content processing.
Microsoft (NASDAQ:MSFT) – Microsoft has decided to keep its new Recall feature, which logs user activities on PCs to streamline data organization, disabled by default. This decision comes after security concerns arose regarding the potential for hackers to access these logs. The company will also require additional authentication to activate the feature. Additionally, Microsoft showcased fully digital versions of the Xbox Series X and S consoles at the Xbox Games Showcase, along with game trailers like the new edition of “Call of Duty”. The event takes place amidst a period of sluggish sales and economic challenges in the gaming industry.
Nvidia (NASDAQ:NVDA) – Nvidia will commence trading at a lower price today following a 10-for-1 stock split. Wall Street remains bullish on Nvidia’s valuation increase, which has surged by 144% this year. Evercore analysts believe Nvidia could represent up to 15% of the S&P 500 in the future.
Advanced Micro Devices (NASDAQ:AMD) – Morgan Stanley analysts downgraded AMD to neutral, citing elevated investor expectations for its AI segment, especially when compared to competitors like Nvidia and Broadcom. They see limited potential for upward revisions for AMD, despite a rebound in its core business and an anticipated increase in AI chip sales.
Snowflake (NYSE:SNOW) – Snowflake is encouraging its clients to implement stricter security controls, such as multi-factor authentication (MFA), after hackers targeted customer accounts using malware and purchased credentials. This follows security incidents involving clients like Live Nation (NYSE) and Advanced Auto Parts (NYSE), raising concerns about data security in the cloud.
Oracle (NYSE:ORCL) – Oracle’s primary medical records client, the US Department of Veterans Affairs (VA), reported that Oracle’s software is not improving patient care as expected. Less than 20% of VA physicians and nurses believe the software enables “high-quality care”. The VA is renegotiating its $16 billion contract with Oracle, which acquired Cerner in 2022, aiming to enhance the electronic medical records system.
Netflix (NASDAQ:NFLX) – Netflix plans to drive its next growth phase by investing in live events and sports, following the success of its ad-supported offering. The strategy, mirroring the traditional TV model, could propel stocks back to 2021 record highs, benefiting from increased visibility and advertising revenue potential.
Walmart (NYSE:WMT) – Walmart opposes New York’s new legislation requiring panic buttons in stores, arguing it may trigger too many false alarms. The law was passed to enhance retail worker safety in response to rising violence and thefts. In other related news, Walmart forecasts its US e-commerce business to be profitable within the next two years. The company is focused on cost reduction and order fulfillment, capitalizing on the 22% surge in online sales in the last quarter.
Yelp (NYSE:YELP) – Yelp may sue ReviewVio for falsely advertising that it can remove negative reviews from the Yelp website, alleging trademark infringement and unfair competition. Judge William Alsup in San Francisco allowed the lawsuit to proceed, highlighting potential confusion about the relationship between the companies and the impact on Yelp’s advertising services.
Tesla (NASDAQ:TSLA) – Tesla CEO Elon Musk announced that there won’t be an updated version of the Model Y this year, despite ongoing improvements to vehicles. Upgrades to Tesla’s older models have been sluggish due to high interest rates and competition from more affordable models in China. Additionally, Tesla shareholders will soon vote on a controversial $56 billion compensation package for Elon Musk. With approximately 90% of retail shareholders seemingly in favor, approval seems likely despite opposition from major funds and recommendations against from proxy advisors. Norway’s $1.7 trillion sovereign wealth fund will vote against Elon Musk’s $56 billion pay package at Tesla, after a judge deemed it unfair to shareholders. Tesla also argues that the legal team that nullified Elon Musk’s pay package in January deserves only a fraction of the $5.6 billion in fees sought, as the case brought little benefit to the company. The automaker proposes to pay $13.6 million for legal services.
Stellantis (NYSE:STLA) – Stellantis has preemptively expanded the recall of potentially faulty airbags in Europe, Africa, and the Middle East to include more Citroen, DS, and Opel models. The recall now covers Citroën C4, DS4, DS5 models, and some Opel vehicles, albeit less restrictive than the initial recall, which included Citroën C3 and DS3.
Southwest Airlines (NYSE:LUV)- Elliott Investment Management, an activist investor, has acquired a nearly $2 billion stake in Southwest Airlines. They plan to press the airline for strategic changes to rectify its underperforming performance.
Spirit Airlines (NYSE:SAVE) – Spirit Airlines dismisses the possibility of bankruptcy and is optimistic about its plan following the failure of the merger with JetBlue (NASDAQ). CEO Ted Christie expressed this confidence at the annual shareholder meeting, despite a recent decline in the company’s shares and operational challenges, including aircraft groundings.
Boeing (NYSE:BA) – Boeing’s CST-Starliner space taxi successfully docked with the International Space Station, bringing its first astronauts, Sunita Williams and Barry Wilmore. This test flight is crucial for both NASA and Boeing, especially after multiple delays and technical setbacks.
Virgin Galactic (NYSE:SPCE) – Virgin Galactic successfully conducted its second spaceflight this year on Saturday, carrying Turkish, American, and Italian tourists to the edge of space. Galactic Mission 07 reached approximately 55 miles in altitude on a flight lasting just over an hour, departing and returning to Spaceport America in New Mexico.
BP plc (NYSE:BP) – BP updated its conflict of interest policy, requiring employees to disclose any intimate relationships with colleagues. The change follows the dismissal of former CEO Bernard Looney for failing to disclose such relationships, emphasizing total transparency to avoid conflicts of interest, under the threat of dismissal.
Occidental Petroleum (NYSE:OXY), Berkshire Hathaway (NYSE:BRK.A) – Warren Buffett’s Berkshire Hathaway acquired about 2.57 million shares of Occidental Petroleum from June 5 to 7, investing over $150 million. This raised its total stake in the company to approximately 250.6 million shares, representing about 28% of Occidental.
US Steel (NYSE:X) – Takahiro Mori, vice president of Nippon Steel, returned to the US to promote the acquisition proposal for US Steel, receiving positive feedback from employees and community leaders. Despite regulatory scrutiny and union opposition, the Japanese company aims to conclude the $14.9 billion merger, already approved outside the US.
Diamond Offshore Drilling (NYSE:DO), Noble Corporation (NYSE:NE) – Diamond Offshore Drilling has agreed to be acquired by Noble Corp. for approximately $1.6 billion in a cash and stock deal. Under the agreement, Diamond Offshore’s shares were valued at $15.52 based on Friday’s closing price. Diamond Offshore Drilling shares rose 4.6% in pre-market trading to $14.57.
CrowdStrike (NASDAQ:CRWD), KKR & Co (NYSE:KKR), GoDaddy (NYSE:GDDY) – S&P Dow Jones Indices announced that KKR & Co, CrowdStrike, and GoDaddy will be added to the S&P 500 index on June 24, replacing Robert Half (NYSE:RHI), Comerica (NYSE:CMA), and Illumina (NASDAQ:ILMN).
Blackstone (NYSE:BX) – Nadeem Meghji, global co-head of Blackstone’s real estate sector, noted that liquidity is returning to the real estate market, with high-quality assets attracting more interest. He observed an increase in the number of bidders for apartment buildings, attributing this to falling capital costs and new supply.
KKR & Co (NYSE:KKR) – KKR & Co. invested $50 million in one of its main real estate funds and committed to supporting its valuation amidst commercial real estate market instability. The company also plans to repurchase up to 7.7 million shares if the fund’s valuation falls below $27 per share by 2027, ensuring value for shareholders and demonstrating confidence in the real estate market’s recovery.
PowerSchool Holdings (NYSE:PWSC), Bain Capital (NYSE:BCSF) – Bain Capital will acquire PowerSchool Holdings in a deal valuing the educational software company at $5.6 billion. Bain will pay $22.80 per share, a 37% premium over the previous closing price. Vista Equity and Onex will retain minority stakes post-acquisition.
Visa (NYSE:V), Mastercard (NYSE:MA)- Visa and Mastercard will face new lawsuits in London after a court allowed collective proceedings on behalf of merchants to proceed. The companies are accused of overcharging interchange fees, with many lawsuits already underway in London’s Competition Appeal Tribunal.
Waystar (WAY) – Waystar shares fell on Friday in their Nasdaq debut after raising $968 million in their initial public offering, one of the largest IPOs of the year. The shares opened at $21, below the IPO price of $21.50, and closed at $20.70, valuing the company at $3.50 billion.
Walgreens Boots Alliance (NASDAQ:WBA) – Walgreens Boots Alliance is considering an initial public offering for its Boots pharmacy network in the UK, while continuing sale negotiations. The company has informally discussed with potential buyers, including private equity firms, without yet making a final decision on Boots’ sale.
Pfizer (NYSE:PFE) – A study by Stanford University found that a 15-day treatment with Pfizer’s antiviral Paxlovid did not alleviate long Covid symptoms. Despite hopes based on anecdotal reports, the study involving 155 participants showed no significant improvement in symptoms like fatigue and mental confusion.
Moderna (NASDAQ:MRNA) – Moderna announced that its combined Covid-19 and flu vaccine is more effective than individual vaccines, based on a late-stage trial. Being the first to release positive phase three data, the company plans to seek regulatory approval in the US soon, targeting a 2025 launch.
Express (NYSE:EXPR) – Express is selling its business for $160 million to a consortium including mall owners and investment firms. The sale, still open to better offers, also includes assuming $38 million in liabilities. This move averts the risk of liquidation and protects jobs and stores.
GameStop (NYSE:GME) – GameStop shares rose 6.6% in pre-market trading after closing down 39% on Friday, marking its worst day since February 4, 2021. This occurred despite Keith Gill, the infamous meme trader known as Roaring Kitty, scarcely mentioning GameStop in his live stream on Friday, although he reiterated his bullish stance on the company.
https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/94012430/apple-showcases-ai-at-wwdc-2024-nvidia-stock-spli
Investors3
2 weeks ago
How to emulate the original PlayStation and Nintendo 64 on Mac
Alex Baggott | Jun 07, 2024
Games on the Sony PlayStation and Nintendo 64 can be played on an Apple Silicon Mac with a little bit of work. Here's how to emulate the classic consoles on a Mac or MacBook.
The transition from the fourth to the fifth generation of video game consoles was a unique time in gaming history. It heralded the movement from 2D to 3D games during the mid-1990s.
This involved pioneering work in bringing real-time 3D graphics to life, as well as the disruption of major players in the industry.
It also adds a whole new dimension (literally) to emulating games. Polygon transformation, projection, lighting and shading, texture mapping, anti-aliasing, depth and occlusion, animation, and camera positioning must all be handled accurately by emulators.
Some of these aspects can even be manipulated to produce better visuals.
Incidentally, it's easy for modern Macs to perform the graphical computations made on the hardware of fifth-gen consoles. But, it's more taxing for them to emulate the console performing those same calculations.
When we add multiple graphical enhancements on top of this, you'll see how emulating these games can rapidly make your Mac's hardware struggle.
Unlike the fourth generation systems in our previous guide, the setup for emulating fifth generation consoles on Mac depends on the particular console.
Also, due to the higher complexity, not every available approach works well. So, the following guide makes recommendations based on the results of our testing and experimentation.
Important: The legalities of emulation
Before you start, you should ensure that you understand the legality of emulating games. It is usually legal to emulate a console as long as you own the original hardware, so make sure that you do.
You should also own a legitimate copy of the original game, since downloading or distributing a game without owning it is illegal. However, the legality of using digital copies of physical games depends on copyright laws in your jurisdiction, and can vary significantly between regions.
Please check all of this out before proceeding.
The need for BIOS files
In the world of emulation, optical disc systems such as the PlayStation or Sega Saturn need BIOS files to run. Cartridge-based systems like the N64 do not.
BIOS (Basic Input/Output System) files contain the firmware necessary for the console to interface with the game's hardware. Essentially, the BIOS acts as an intermediary, handling system startup routines and ensuring proper communication between the game and the emulated hardware.
On the original consoles, the BIOS initializes the hardware, including the optical drive, to make sure that it reads the game disc correctly. It also manages core system functions such as memory card access, audio, and video settings.
This provides a standardized environment in which games run.
Additionally, BIOS files perform security checks to authenticate the game disc, verifying that it's a legitimate copy. This step is crucial for consoles designed to prevent piracy.
Many optical disc consoles implement region locking through their BIOS. This restricted games to specific geographic regions, such as Europe or the US.
In contrast, cartridge-based systems like the Nintendo 64 do not require BIOS files for emulation. This is because cartridges are self-contained, meaning the hardware initialization and system functions are directly managed by the cartridge itself.
Games on cartridge-based systems access the console's hardware directly, bypassing the need for an intermediary firmware layer.
For emulators, this distinction means they require the original BIOS file to accurately replicate the startup routines and system functions of consoles that used them. Without the BIOS, these emulators cannot perform essential tasks, leading to compatibility issues or failure to boot games.
The BIOS region must match the region of the game ROM. For example, an SCPH-3000 BIOS (a model of Japanese PS1) can only run PS1 games that were released in Japan.
You must also make sure that you only use BIOS files from the hardware that you own. For example, if you own PAL PS1 from the UK, it's illegal to download and use the BIOS of an NTSC PS1 from the US.
How to extract your PlayStation (PS1/PSX) BIOS
This process dumps the BIOS from your PS1 and converts it for use in an emulator.
This guide uses a piece of software called MemcardRex which is currently only available for Windows. Therefore, you'll either need access to a PC to run it, or you'll need to use CrossOver or a virtual machine.
How to extract the PlayStation BIOS with BIOS Dumper...
https://appleinsider.com/inside/apple-silicon/tips/how-to-emulate-the-original-playstation-and-nintendo-64-on-mac?utm_medium=rss
Investors3
2 weeks ago
GME Volatile as Roaring Kitty Goes Live Today, Meta Unveils AI for WhatsApp Ads, and More Apple (NASDAQ:AAPL)
June 07 2024 - 8:09AM
IH Market News
GameStop (NYSE:GME) – GameStop shares are volatile in pre-market trading on Friday, after soaring nearly 50% the day before, following the announcement by the influencer known as “Roaring Kitty” of an upcoming live broadcast on YouTube today at 12 PM, Eastern Time (ET). Since Gill resumed social media activities in May, GameStop’s market value has increased by $11 billion. This rise is part of a pattern of volatile trading influenced by his activities. Gill’s broadcast has garnered over 12,000 registrations. The stock reversed from a gain of over 30% to a 16.4% drop in pre-market trading shortly after the video game retailer announced its first-quarter results.
Meta Platforms (NASDAQ:META) – Meta launched an AI-based ad targeting program on WhatsApp to generate revenue, marking a new approach for the messaging service. The tools use behavioral data from Facebook and Instagram to target potential customers, representing a shift in WhatsApp’s privacy practices.
Nvidia (NASDAQ:NVDA) – As Nvidia threatens to become the world’s most valuable company, surpassing Microsoft, some investors are skeptical and are betting that its sharply rising shares may depreciate. Short bets against Nvidia total about $34 billion, nearly double the combined bets against Apple and Tesla. After today’s market close, Nvidia will conduct a 10-for-1 stock split, making its shares more accessible and potentially broadening its appeal to individual investors. After the split, the share price will be proportionally reduced, which could favor the company’s inclusion in the Dow Jones, which is price-weighted.
Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA) – The U.S. Department of Justice and the Federal Trade Commission have reached an agreement to conduct antitrust investigations into Microsoft, OpenAI, and Nvidia, related to these companies’ dominance in the artificial intelligence market.
Apple (NASDAQ:AAPL) – Next week, Apple will launch a new app called “Passwords” to facilitate login to websites and programs. This feature, part of iOS 18, iPadOS 18, and macOS 15, is an extension of iCloud Keychain and aims to simplify password management, increasing competition with other password managers.
Netflix (NASDAQ:NFLX) – Fiona Harvey, a Scottish lawyer, is suing Netflix and Richard Gadd for defamation, seeking at least $170 million. She claims that the miniseries “Baby Reindeer” falsely portrays her as a stalker and criminal, damaging her reputation, as many viewers believe she is the “real” Martha, the show’s character. Additionally, Netflix has revealed details of the animated films “Spellbound” and “Pookoo,” developed in collaboration with Skydance Animation. “Spellbound” tells the story of Ellian, who seeks to break the spell that turned her parents into monsters, set for release on November 22. “Pookoo” explores the adventure of enemies swapping places, set to premiere in 2025.
Amazon (NASDAQ:AMZN) – Amazon faces a $1.3 billion lawsuit from about 35,000 British retailers, alleging that the company misused their data on the Marketplace to favor its own products and profit, thereby harming competition. The lawsuit was initiated by the British Independent Retailers Association in London.
Mercado Libre (NASDAQ:MELI) – The Latin American e-commerce leader plans to increase its investments in Brazil to more than $4.35 billion (23 billion reais), exceeding the initial forecast due to higher-than-expected sales. The company also expects to hire 11,000 people, up from the initially planned 6,500.
Walmart (NYSE:WMT) – Walmart is replacing paper labels with digital ones in its stores, allowing for quick price updates on more than 120,000 items in minutes. Previously, weekly updates took up to two days. This will improve efficiency and price management, as well as streamline product selection for online orders.
Starbucks (NASDAQ:SBUX) – Starbucks is starting a partnership with Grubhub to deliver coffee and beverages in the U.S., beginning in Pennsylvania, Colorado, and Illinois, with plans for national expansion by August. Meanwhile, Brazilian restaurant operator Zamp has closed a deal to acquire the rights to operate the Starbucks brand in Brazil for R$ 120 million, which includes managing some stores.
Costco Wholesale (NASDAQ:COST) – According to Reuters, when Costco opened a store in a rural Japanese town, it sparked strong competition for workers by offering high wages. In response, a local noodle shop increased wages by a third to retain and attract employees, despite the financial difficulties this posed.
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) – TSMC’s sales in May grew 30%, reaching $7.1 billion, driven by demand in artificial intelligence and the recovery of consumer electronics.
Lyft (NASDAQ:LYFT) – Lyft plans to maintain its competitiveness in the U.S. ride-sharing market, aiming for annual gross bookings growth of 15% by 2027. The company is also diversifying its revenue sources and expects its new advertising sector to grow eightfold in the same period.
Hertz Global Holdings (NASDAQ:HTZ) – Bloomberg reported on Thursday that Hertz is considering raising at least $700 million through secured debt and convertible notes to strengthen its balance sheet.
Instacart (NASDAQ:CART) – Instacart launched a new $500 million share repurchase program to bolster confidence in its growth potential. Completing two previous buyback rounds, the company reiterated its commitment to growth.
Toyota Motor (NYSE:TM), Mitsubishi UFJ Financial Group (NYSE:MUFG), Sumitomo Mitsui Financial Group (NYSE:SMFG) – Japan’s largest banks, MUFG and SMFG, will begin selling their strategic stakes in Toyota, valued at $8.5 billion. This move aligns with Japan’s corporate governance reforms, aimed at reducing cross-shareholdings between companies to avoid conflicts of interest and increase transparency.
Stellantis (NYSE:STLA) – Fiat, through Stellantis, has projected the production of the new hybrid Fiat 500e, with an expected annual sales range of 100,000 to 110,000 units. This version combines a gasoline engine and battery, offering a more affordable option compared to the fully electric model, which sold fewer than 80,000 units last year.
Nio (NYSE:NIO) – The Chinese electric vehicle manufacturer predicted on Thursday that its deliveries in the second quarter will more than double compared to the previous year, reaching between 54,000 and 56,000 units. The estimated revenue is about $2.3 billion. Despite the increase in sales, the company still reports losses.
Delta Air Lines (NYSE:DAL) – Delta Air Lines will announce plans for a new flight between Seattle and Washington’s Reagan National Airport, taking advantage of new legislation creating five new daily slots at this airport. Delta aims to increase competition and reduce prices on a route already served by Alaska Airlines (ALK).
Boeing (NYSE:BA) – Boeing’s space taxi, the CST-Starliner, successfully docked with the International Space Station, carrying NASA astronauts Sunita Williams and Barry Wilmore for a critical test flight. Despite initial thruster issues, the mission marks an important step for Boeing in space transportation.
Lockheed Martin (NYSE:LMT) – Germany plans to acquire eight additional F-35 fighters from Lockheed Martin, in addition to the 35 already ordered, raising the total number to 43. This acquisition reflects Berlin’s commitment to updating its defense capabilities with the most advanced aircraft available.
Devon Energy (NYSE:DVN) – Devon Energy lost bids to acquire three oil and gas companies due to the rejection of its stock as a form of payment. This includes failing to outbid offers from ConocoPhillips and Occidental Petroleum, respectively $22 billion and $12 billion, negatively affecting its competitive position.
Sociedad Quimica y Minera de Chile (NYSE:SQM), Rothschild & Co (EU:ROTH) – Rothschild & Co is leading the search for partners for Codelco in a new major lithium project in Chile, called the “Paloma Project,” with production expected to start in 2030. The project initially contemplates lithium production through evaporation ponds, with a future possibility of using direct lithium extraction technology.
Moody’s (NYSE:MCO) – Moody’s Ratings placed the long-term debt ratings of U.S. regional banks, including Old National Bancorp (NASDAQ:ONB), under review for downgrade due to concerns about exposure to the commercial real estate sector. The justification is the concentration in loans from this sector, increasing risks during recession periods. Additionally, a Moody’s report highlights that most global insurers plan to invest more in the private credit market in the coming years. This market, although less transparent and riskier than public credit, has attracted insurers due to attractive returns, especially in the U.S., where these holdings already represent 36% of their regional investments.
Emerson (NYSE:EMR), Blackstone (NYSE:BX) – Emerson agreed to sell its 40% stake in the Copeland joint venture to Blackstone for $3.5 billion, seeking to simplify its business and focus more on automation.
PayPal (NASDAQ:PYPL) – PayPal shares are up 0.25% in pre-market trading, following a 5.5% increase on Thursday. The rise came amid optimistic expectations for the new Fastlane product, which simplifies the checkout process. This represents a rebound after underperforming the market in recent years.
Citigroup (NYSE:C) – Analysts at BofA Securities suggest that Citigroup could sell its wealth management business due to inefficiency and uncertain results in this segment. Jane Fraser, Citigroup’s CEO since 2021, is restructuring the bank, reducing businesses and jobs, and introducing new leaders to streamline operations.
Morgan Stanley (NYSE:MS) – Morgan Stanley faces disputes due to a judge’s decision classifying its deferred compensation programs under ERISA law, affecting arbitrations over payments. The company seeks review of the decision, arguing that it complicates its defense in other similar arbitrations.
Waystar Holding Corp. (WAY) – The healthcare payments software maker set the price of its initial public offering (IPO) at $21.50 per share, hitting the midpoint of the $20 to $23 range. With this, the company raised $968 million, reaching a market value of about $3.6 billion. Waystar plans to use the proceeds to pay off debt. Waystar shares will begin trading on Friday on the Nasdaq Global Select Market under the symbol WAY.
https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/94005246/gme-volatile-as-roaring-kitty-goes-live-today-met
Investors3
2 weeks ago
What to expect from Apple’s AI-powered WWDC
Tuesday, June 4, 2024 2:33 pm
4 Comments
Apple’s Worldwide Developers Conference (WWDC) next week promises to be a pivotal moment in the company’s history as Cupertino will reveal how it plans to integrate AI technology into its operating systems, software, and devices, including through a historic partnership with OpenAI.
Sarah Perez for TechCrunch:
As the big event nears, all sorts of leaks have emerged about what iOS 18 and its rumored AI-powered apps and features have in store.
Among the changes, Apple is said to be powering some of its new AI features with its Ajax LLM. Other reports indicate that Apple plans to process data from AI in a way that even employees won’t be able to access, which would help Apple continue to deliver on its promise of data privacy for its users.
Apple’s digital assistant is prepared to get an AI revamp. The digital assistant will leverage Apple’s own large language models and will allow Siri to control individual features inside applications… A more advanced Siri will also come to Apple Watch for on-the-go use. You could use Siri on your Watch to play music on another device, one report said.
Generative AI emojis will be supported [in Messages], letting users create their own emojis with technology.
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
MacDailyNews Take: For better, hopefully, or worse, WWDC24 certainly will be a pivotal moment in Apple’s history. Go, Apple marketing, go!
[W]e’ve been wanting [an iPhone or iPad to automatically generate Memoji for users] from the start as, despite our best efforts, some of our Memoji end up only vaguely reminiscent of the person they’re supposed to represent*.
*as a cartoon 10-year old. – MacDailyNews, October 22, 2019
https://macdailynews.com/2024/06/04/what-to-expect-from-apples-ai-powered-wwdc/
DiscoverGold
2 weeks ago
Apple Stock Could Still Be Undervalued Here Based on Its Powerful Free Cash Flow
By: Barchart | June 4, 2024
Apple Inc (AAPL) stock has risen substantially since releasing its fiscal Q2 earnings on May 2. But it could still be worth almost 25% more over the next year based on its strong free cash flow and FCF margins.
In morning trading on June 4, AAPL is at $194.19, up 14.7% from May 1 when it was at $169.30 per share. In my last Barchart article on May 3, “Apple Stock Surges on Buyback and Dividend News - OTM Options are Cheap Here, " I discussed the company's free cash flow and upside potential.”
In that article, I showed that AAPL stock could be worth as much as $217.44 per share. That still provides a +12% upside over today's price.
But since then analysts have raised their revenue projections, especially for next year. As a result, I can project that AAPL stock could be worth as much as $265.32 over the next year. That is almost 37% higher than today. I will show how I derive this target price below. Note that the average of these two target prices is $241.38, or 24.3% higher than today.
Projecting Apple's FCF
In the last six months, as I pointed out in my prior article, Apple made $58.2 billion in free cash flow (FCF) on $210.328 billion in sales. That works out to an FCF margin of 27.7% in the past six months.
Moreover, as I pointed out in my recent May 23 GuruFocus article on Apple, the company generated $103 billion in FCF in the trailing 12 months (TT) ending March 2024. That represented a similar 27.2% of sales ($381.6 billion), close to the 27.7% 6-month margin.
We can use this FCF margin to estimate its future cash flow. For example, analysts now project that sales will hit $410.7 billion for the year ending Sept. 2024. That is projected to be 6.2% higher than this fiscal year ($386.88 billion).
Projecting A Target Price
So, if we multiply the $410.7 billion in 2025 projected sales by the 27.7% FCF margin it made recently, FCF could rise to $113.8 billion. That is 10.5% over the TTM FCF of $103 billion.
As a result, AAPL stock could be worth as much as $4.06 trillion using a 2.8% FCF yield metric. That is the same as multiplying FCF by about 36x. This market cap is 36.6% over today's market cap of $2.975 trillion. In other words, the stock could be worth 37% more at $265.32 per share.
Why did I use a 2.8% FCF yield metric? For one the company is buying back at least 2.5% of its shares annually. I showed how the share count has been falling about this amount every year in my GuruFocus article mentioned above. So, the buyback yield is about 2.5% for shareholders.
Moreover AAPL stock also has a 0.5% dividend yield. Altogether this works out to a 2.8% to 3.0% shareholder yield for investors. That is how the market is willing to value the stock.
Analysts surveyed by AnaChart.com also have a higher price target. The average of 32 analysts' price targets is $206.35. That represents a potential upside of at least 6% over today's price.
The bottom line is that AAPL stock still looks cheap here based on its powerful FCF. The average potential upside is almost 25% ($241.38 per share) from here, based on analysts' revenue estimates and its strong FCF margins.
However, keep in mind that this could take up to a year to occur. It won't necessarily happen overnight. Analysts' revenue estimates for next year have to come into focus by the market as achievable. If that occurs, AAPL stock still has a good upside for long-term investors, based on its strong FCF margins.
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