Wall Street – pressnews

Apple Hit With Second Downgrade This Week on iPhone Worries

5Jan

By adminNo Comments

Technology

Apple Hit With Second Downgrade This Week on iPhone Worries

[ad_1] Apple Inc. was already the least-loved big tech stock on Wall Street. Growing concerns over iPhone sales have now triggered a second downgrade this week, cementing analysts' cautious approach.Piper Sandler & Co.'s Harsh Kumar cut his Apple rating on Thursday, citing a weak macro environment in China that will dampen demand for iPhones. “We are concerned about handset inventories,” Kumar said in a note, lowering his recommendation for Apple to neutral from overweight after holding a bullish view since March 2020. “Growth rates have peaked for unit sales,” he said. We are now on WhatsApp. Click to join.Kumar's downgrade follows a more bearish move by peers at Barclays Plc, where analysts led by Tim Long cut their rating to underweight on Tuesday.Coming into 2024, Apple was th...

5 things about AI you may have missed today: Indian tech experts in UN AI advisory body, Philips’ AI tools, more

27Oct

By adminNo Comments

Technology

5 things about AI you may have missed today: Indian tech experts in UN AI advisory body, Philips’ AI tools, more

[ad_1] As we get ready to enter the weekend, let us take a moment to go over all the major artificial intelligence-related developments today, October 27. In the first incident, notable experts in the field of technology in India have been named to a new global advisory body. The UN body was announced by UN Secretary General Antonio Guterres. In other news, imaging data software provider Quibim has come together with Philips to launch AI-powered imaging and reporting solutions for MR prostate examinations. This and more in today's AI roundup. Let us take a closer look.Indian tech experts in the UN AI bodyA global advisory body on AI has been established by UN Secretary General Antonio Guterres, featuring prominent Indian tech experts, as per a report by PTI. The High-Level Multistakehol...

Microsoft Eyes Apple’s Spot as World’s Largest Stock

20Sep

By adminNo Comments

Technology

Microsoft Eyes Apple’s Spot as World’s Largest Stock

[ad_1] Microsoft Corp. is narrowing the gap with Apple Inc. in the stock market as investors see better growth and far less China risk in the software giant.The Redmond, Washington-based company's shares have outperformed the iPhone maker's this month, bringing its market value closer to Apple, which is at the center of a flareup in tensions with China. While hundreds of billions of dollars still separate the two companies, Microsoft's positions in markets including cloud computing and artificial intelligence make it more attractive to some investors. “Microsoft has more of what the market wants right now, and given where we stand on the pair's growth prospects, we wouldn't be surprised to see it overtake Apple,” said David Klink, senior equity analyst at Huntington Private Bank. “We ha...

Wall Street’s Use of AI and Data Analytics Faces New SEC Rules

27Jul

By adminNo Comments

Technology

Wall Street’s Use of AI and Data Analytics Faces New SEC Rules

[ad_1] Wall Street's main regulator is unveiling proposed restrictions for brokerages and money managers that use artificial intelligence to interact with clients.The US Securities and Exchange Commission approved a plan on Wednesday to root out what Chair Gary Gensler has said are conflicts of interest that can arise when financial firms adopt the technologies. The agency also adopted final rules requiring companies to disclose serious cybersecurity incidents within four business days after they're deemed significant. The AI proposal is the latest salvo from Washington regulators concerned about the technologies' power to influence everything from credit decisions to financial stability. Companies would need to assess whether their use of predictive data analytics or AI poses conflicts...

Ford Cuts Price on Electric Version of F-150 Truck by Up to 17%

18Jul

By adminNo Comments

Technology

Ford Cuts Price on Electric Version of F-150 Truck by Up to 17%

[ad_1] Ford Motor Co. is slashing prices on the electric version of its best-selling F-150 pickup by as much as 17%, as it moves to fend off new competition coming from Tesla Inc. and General Motors Co.The F-150 Lightning Pro, the cheapest version of the electric truck aimed at commercial buyers, now starts at $49,995. That's down about $10,000 but still above the original starting price of $39,974 when it went on sale in April 2022. The lowest priced model aimed at consumers, the XLT, was also cut about $10,000 and now starts at $54,995. The cuts Monday reverse roughly half the price hikes Ford had implemented on its battery-powered truck over the last year. Chief Executive Officer Jim Farley previously boasted that Ford was raising prices on the Lightning while Tesla cut prices on its...

ChatGPT Can Decode Fed Speak, Predict Stock Moves From Headlines

18Apr

By adminNo Comments

Technology

ChatGPT Can Decode Fed Speak, Predict Stock Moves From Headlines

[ad_1] The first wave of academic research applying ChatGPT to the world of finance is arriving — and judging by early results, the hype of the past few months is justified.Two new papers have been published this month that deployed the artificial intelligence chatbot in market-relevant tasks — one in deciphering whether Federal Reserve statements were hawkish or dovish, and one in determining whether headlines were good or bad for a stock. ChatGPT aced both tests, suggesting a potentially major step forward in the use of technology to turn reams of text from news articles to tweets and speeches into trading signals. That process is nothing new on Wall Street, of course, where quants have long used the kind of language models underpinning the chatbot to inform many strategies. But the f...

Startup Tells New Hires They Need To Know ChatGPT For a Job

16Mar

By adminNo Comments

Technology

Startup Tells New Hires They Need To Know ChatGPT For a Job

[ad_1] As businesses grapple with how artificial intelligence tools like ChatGPT will affect working practices, one Japanese fintech firm is making it compulsory for new recruits to use the technology and even testing them on it.With concerns growing about its ability to make jobs obsolete and data protection, Tokyo-based LayerX Inc., is bucking the trend, with a recent job ad for new graduates making it mandatory for recruits to be tested on their use of the chatbot made by OpenAI Inc., and another called Notion AI. The startup, which focuses on promoting digitizing business transactions, is confident it's on the right side of a growing divide over the use of the technology. Many Wall Street banks have restricted its use, while schools in places like New York City have banned it. Majo...

How State Street Has Used AI to Find ‘Hidden Gems’ Since 2018

13Feb

By adminNo Comments

Technology

How State Street Has Used AI to Find ‘Hidden Gems’ Since 2018

[ad_1] ChatGPT has taken the internet by storm, triggering a new wave of speculation surrounding how artificial intelligence can disrupt various industries and markets. Yet AI has already been at work for years on Wall Street, where State Street and other companies have grasped onto the concept to help put together innovative exchange-traded funds.Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors, joined the “What Goes Up” podcast to talk about using AI in portfolio construction, and where he sees the technology going in the future. His firm's $1.7 billion SPDR S&P Kensho New Economies Composite ETF (ticker: KOMP) is up about 11% so far this year. Here are some highlights of the conversation, which have been condensed and lightly edited for clarity. Q:...

Google, Apple, Amazon give investors reason to fret

4Feb

By adminNo Comments

Technology

Google, Apple, Amazon give investors reason to fret

[ad_1] Wall Street has its eyes on big tech after some of the biggest companies in the world posted lackluster quarterly financial performances. That included Apple Inc. The company posted its first quarterly revenue drop in nearly four years after pandemic-driven restrictions on its China factories curtailed sales of the latest iPhone during the holiday season. Amazon reported worse-than-expected fourth-quarter profits, but its revenue beat expectations boosted by sales in its cloud-computing unit AWS, which is also seeing a slow-down in growth. Google's parent company Alphabet posted a lower profit and a small revenue increase for last year's fourth quarter, as a decline in online ad spending and competition from rivals weigh on the search g...

20Jan

By adminNo Comments

Technology

Uber not planning layoffs: CEO

[ad_1] Ride-hailing giant Uber is not planning any company-wide layoffs, the US firm's boss said Thursday, bucking the downsizing trend in the tech sector. Ride-hailing giant Uber is not planning any company-wide layoffs, the US firm's boss said Thursday, bucking the downsizing trend in the tech sector. Uber employed some 32,600 drivers worldwide at the end of September, according to the company's last quarterly earnings report. "We're not at this point planning on any company-wide layoffs," Uber chief executive Dara Khosrowshahi said at a Wall Street Journal event on the sidelines of the World Economic Forum in Davos, Switzerland. Microsoft said Wednesday it would layoff 10,000 employees in the coming months as the economic downturn punishes US tech giants. Facebook-owner Met...