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Nvidia becomes Tesla’s successor as market flips from EV to AI

4Mar

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Technology

Nvidia becomes Tesla’s successor as market flips from EV to AI

[ad_1] Nvidia Corp.'s rise is captivating the stock market and driving the S&P 500 Index to new highs. But it also raises cautionary reminders of another investor darling that soared on dreams of a technological transformation, only to tumble back to earth when those hopes turned to disappointment. That stock belongs to Tesla Inc., which sparked its own mania in 2017 as investors bet that electric vehicles were going to take over the world. Back then, Elon Musk's company was a phenomenon as it blew past established carmakers like General Motors Co. and Ford Motor Co. in market capitalization to become America's biggest auto manufacturer. Some analysts were looking beyond the industry and calling it “the next Apple Inc.” Now, Tesla shares are down more than 50% from their 2021 peak, ...

Apple Is So Big, It’s Almost Eclipsing France’s Stock Market

15Dec

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Technology

Apple Is So Big, It’s Almost Eclipsing France’s Stock Market

[ad_1] The rally in Apple Inc., the world's most valuable publicly traded company, is showing no signs of easing. After closing at a record high on Wednesday, the iPhone maker's market value is approaching that of Europe's largest stock market: France. The combined market value of companies listed in Paris was about $3.2 trillion as of Wednesday's close, versus the technology giant's $3.1 trillion, according to an index compiled by Bloomberg. Apple is bigger than all but the six largest stock markets in the world. It's not the first time the Cupertino, California-based company eclipsed Paris in value. The duo swapped positions a number of times during last year's second-half selloff as central banks raised interest rates to tackle inflation. The French stock market itself is at a record...

Elon Musk Tesla Share Sale: Billionaire Sells $3.95 bn Stock After Buying Twitter

9Nov

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Technology

Elon Musk Tesla Share Sale: Billionaire Sells $3.95 bn Stock After Buying Twitter

[ad_1] Tesla CEO Elon Musk sold at least $3.95 bn of the electric-vehicle maker’s shares just days after closing his buyout of Twitter Inc. Tesla Inc. Chief Executive Officer Elon Musk sold at least $3.95 billion of the electric-vehicle maker's shares just days after closing his buyout of Twitter Inc.Musk unloaded 19.5 million shares, according to regulatory filings on Tuesday in New York, his first disposals since August. The documents didn't indicate that the transactions were pre-planned. The world's richest person followed through with his takeover of the social-media platform in October, after spending months trying to get out of it. In August, Musk had said he was done offloading Tesla stock and that it was important to avoid an “emergency sale” of the shares in case he was forc...

Alphabet, Microsoft Lead Bear-Market Earnings Season

25Oct

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Technology

Alphabet, Microsoft Lead Bear-Market Earnings Season

[ad_1] Investors are facing a make-or-break week for some of Wall Street’s most influential tech stocks in a historic year for the group marked by a plunge into bear market territory. Investors are facing a make-or-break week for some of Wall Street's most influential tech stocks in a historic year for the group marked by a plunge into bear market territory. The superlatives have followed one after another in 2022's wild ride. Shares of Meta Platforms Inc. have lost 61%, their biggest drop since the company went public a decade ago. Apple Inc., Alphabet Inc., Amazon.com Inc. and Microsoft Corp. are set for their steepest declines since the global financial crisis. Now, these companies are slated to report quarterly results this week with projections showing a profit decline by th...

Tesla Stock Rises as Unlikely Rival to Apple

27Sep

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Technology

Tesla Stock Rises as Unlikely Rival to Apple

[ad_1] In a year that has seen tech stocks battered, Tesla stock has emerged as an unlikely rival to Apple Inc. In a year that has seen high-flying technology stocks with lofty valuations battered, Tesla Inc. shares have emerged as an unlikely rival to Apple Inc. Of the five biggest US companies by market value, Tesla's shares are by far the most expensive, yet they're the only ones whose performance comes close to Apple's, which has been a rare bright spot for investors in the sector this year. Tesla is down 22% this year while Apple has fallen 15%. By contrast, Microsoft Corp., Alphabet Inc. and Amazon. com Inc. have all declined 29% or more, roughly the same as the Nasdaq 100 Index. On the surface, Tesla appears to be...

Bitcoin Gains the Most in a Month as Dollar Drop Boosts Crypto

9Sep

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Technology

Bitcoin Gains the Most in a Month as Dollar Drop Boosts Crypto

[ad_1] Bitcoin rose the most in more than a month, gaining along with Asian stocks and pushing past the psychologically important $20,000 level as a bout of dollar weakness drove demand for risk assets. Bitcoin rose the most in more than a month, gaining along with Asian stocks and pushing past the psychologically important $20,000 level as a bout of dollar weakness drove demand for risk assets. The world's largest cryptocurrency advanced 6% to $20,520 at 1:22 p.m. in Singapore, the highest since Aug. 26 and outperforming most of the other top tokens like Ether. Asian stocks were also in the green as risk appetite returned, with the Hang Seng Index up about 2.5%. The Bloomberg Dollar Spot Index tumbled 0.7% in Asia tradi...