ReportWire

Tag: Consumer electronics

  • Why Apple may finally be embracing touchscreen laptops | CNN Business

    Why Apple may finally be embracing touchscreen laptops | CNN Business

    [ad_1]



    CNN
     — 

    Over the years, Apple has added touchscreens to almost every computing device imaginable, from phones and tablets to smartwatches, but it has refrained from bringing the feature to its Mac product line – even as a long list of rivals did so with their laptops and desktops.

    In 2010, Apple co-founder Steve Jobs described the concept of a computer with a touchscreen – then an emerging trend among the company’s competitors – as “ergonomically terrible.” Two years later, CEO Tim Cook reiterated the sentiment during an earnings call. And Craig Federighi, Apple’s senior VP of software engineering, said in 2018 that “lifting your arm up to poke a screen is pretty fatiguing to do.”

    But now, Apple may be rethinking its stance. On Wednesday, Bloomberg reported Apple engineers are developing a touchscreen for the MacBook Pro with an expected launch date of 2025, citing unnamed sources familiar with the matter. The company did not immediately respond to a request for comment.

    While it’s unclear if the touchscreen laptop will see the light of day, introducing the product could accomplish two important things for Apple: adapting to shifting consumer expectations and supercharging sales for its Mac product line.

    Microsoft, HP, Samsung and Dell, have long offered computers with touchscreens, and more consumers have come to expect they can tap on a computer screen just as they do on their phones. (If you have a MacBook, you may have already had the experience of a friend or relative touching your screen reflexively thinking it would do something.)

    At the same time, interest in Apple computers is booming, thanks in part to Apple’s inclusion of its new in-house processor that improved battery life and offered better performance. Mac revenue increased 14% in Apple’s 2022 fiscal year to $40.1 billion. Apple’s iPad business, on the other hand, saw sales decline from the prior year.

    Apple has previously kept the touchscreen away from its Mac lineup to prevent it from cannibalizing iPad sales. Instead, Apple added a narrow touch bar to its MacBook keyboard to provide easy access to shortcuts, emoji and other features, but ultimately it did away with the tool after it was panned by users and critics.

    Now, however, Apple could use a Mac touchscreen to incentivize consumers to upgrade their computers and keep Mac sales momentum growing.

    David McQueen, research director at ABI Research, said the lines are increasingly blurred between higher-end iPads and Macs, thanks to new chips, battery life and slim design. He noted that when a 12.9-inch iPad Pro is attached to a Magic Keyboard with use of an Apple Pencil, there is “not much to tell it apart from a laptop experience.”

    “The market has embraced 2-in-1 laptop-tablet hybrids and maybe now Apple sees the rationale for also adding one to its armory,” he added.”

    Apple, for its part, has softened its stance on Mac touchscreens more recently. When asked at a conference last fall if Apple will add a touchscreen to Macs, Federighi responded: “Who’s to say?”

    [ad_2]

    Source link

  • Tesla is a ‘soft landing’ stock, says Goldman Sachs. Here are its picks for a gentle economic landing and stocks for a recession.

    Tesla is a ‘soft landing’ stock, says Goldman Sachs. Here are its picks for a gentle economic landing and stocks for a recession.

    [ad_1]

    Pour one out for the beleaguered economists, who for once got an important indicator, the consumer price index, right on the nose, after CPI fell 0.1% in December, while core prices rose 0.3%.

    “The 2021 surge in durable goods demand normalized, and the resulting collapse in durable goods price inflation was stunningly fast,” says Paul Donovan, chief economist of UBS Global Wealth Management.

    “The commodity wave of inflation is fading, and that leaves the profit margin expansion in focus,” he adds. What a good time for earnings season to be upon us, and what do you know, it is, kicking off with the banking sector on Friday before broadening out next week.

    Strategists at Goldman Sachs have a new note out, saying that the market is pricing in a soft landing even though the trend of earnings revisions points to a hard landing.

    They’re not that optimistic — even in the soft-landing scenario, the team led by David Kostin say the S&P 500
    SPX,
    +0.40%

    will end the year right around current levels, at 4,000. But they identify 46 stocks that could benefit — profitable, cyclical companies that are trading at price-to-earnings valuations below their 10-year median, among other factors.

    One name jumps out: Tesla
    TSLA,
    -0.94%
    ,
    which trades at 22 times forward earnings versus the 10-year median of 117 times. But the other 45 names are less flashy, ranging from Capital One
    COF,
    +1.81%

    and Carlyle Group
    CG,
    +0.54%
    ,
    to a host of industrials including 3M
    MMM,
    +0.12%
    ,
    Parker-Hannifan
    PH,
    +0.73%

    and Otis Worldwide
    OTIS,
    +0.42%
    .
    As a whole, these typically $10 billion companies are trading at 12 times earnings, versus 17 times usually.

    In the hard landing scenario, S&P 500 profit margins would shrink by 125 basis points, to 10.9% — about in line with the median peak-to-trough decline during the eight recessions since 1970, which has been 132 basis points. Consensus expectations are for a 26 basis-point margin decline.

    The Goldman team also have a 36 stock screen for a hard landing — profitable companies in defensive industries with a positive dividend yield. They’re typically food, beverage and tobacco companies as well as software and services companies — including Costco Wholesale
    COST,
    +0.58%
    ,
    Kroger
    KR,
    -0.99%
    ,
    Altria
    MO,
    +0.48%
    ,
    Tyson Foods
    TSN,
    +0.23%
    ,
    Microsoft
    MSFT,
    +0.30%
    ,
    MasterCard
    MA,
    -1.13%

    and Visa
    V,
    -0.25%
    .
    As a whole, these $37 billion companies are trading at 22 times earnings vs. a historical 24 times.

    The market

    After a 2.3% advance for the S&P 500
    SPX,
    +0.40%

    over the last three sessions, U.S. stock futures
    ES00,
    +0.39%

    NQ00,
    +0.58%

    declined on Friday.

    The yield on the Japanese 10-year bond
    TMBMKJP-10Y,
    0.511%

    exceeded 0.5%, the Bank of Japan’s yield cap, ahead of next week’s rate decision , prompting a second day of aggressive bond purchases from the central bank.

    For more market updates plus actionable trade ideas for stocks, options and crypto, subscribe to MarketDiem by Investor’s Business Daily.

    The buzz

    Fourth-quarter earnings were rolling out from Bank of America
    BAC,
    +2.20%
    ,
    JPMorgan Chase
    JPM,
    +2.52%
    ,
    Citigroup
    C,
    +1.69%

    and Wells Fargo
    WFC,
    +3.25%
    ,
    and outside of banks, Delta Air Lines
    DAL,
    -3.54%
    ,
    BlackRock
    BLK,
    +0.00%

    and UnitedHealth
    UNH,
    -1.23%
    .

    JPMorgan shares slumped after forecast-beating earnings, though investment bank revenue came in light of estimates. Delta shares also declined after topping earnings estimates.

    Tesla
    TSLA,
    -0.94%

    cut prices of Model 3 and Model Y vehicles in the U.S. and elsewhere by up to 20%. The electric vehicle maker stock dropped 6%.

    Virgin Galactic
    SPCE,
    +12.34%

    surged after saying it’s on track to launch space-tourism flights in the second quarter.

    Apple
    AAPL,
    +1.01%

    says CEO Tim Cook requested, and received, a pay cut after investor criticism.

    The University of Michigan’s consumer-sentiment index is due at 10 a.m. Eastern, and Minneapolis Fed President Neel Kashkari and Philadelphia Fed President Patrick Harker are due to speak.

    Tyler Winklevoss said charges by the Securities and Exchange Commission brought about Gemini Trust for allegedly offering unregistered securities were “super lame” as it seeks to unfreeze $900 million in investor assets.

    Best of the web

    There’s a bull market in swearing on corporate earnings calls.

    The West is now preparing to send tanks to Ukraine in what could be another escalation of its conflict with Russia, which on Friday claimed victory in the eastern town of Soledar.

    A look back at photos of Lisa Marie Presley, who died at age 54.

    Top tickers

    Here were the most active stock-market tickers as of 6 a.m. Eastern.

    Ticker

    Security name

    BBBY,
    -30.15%
    Bed Bath & Beyond

    TSLA,
    -0.94%
    Tesla

    GME,
    -0.68%
    GameStop

    AMC,
    +0.80%
    AMC Entertainment

    MULN,
    -8.59%
    Mullen Automotive

    NIO,
    -0.08%
    Nio

    APE,
    -2.56%
    AMC Entertainment preferreds

    AAPL,
    +1.01%
    Apple

    SPCE,
    +12.34%
    Virgin Galactic

    AMZN,
    +2.99%
    Amazon.com

    Random reads

    Like a scene out of “Stranger Things” — there’s uproar after new restrictions on the Hasbro
    HAS,
    +0.21%

    game Dungeons & Dragons.

    Starting next month, Starbucks
    SBUX,
    +1.30%

    rewards will be less generous for most items, though iced coffee will be easier to get.

    Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern.

    Listen to the Best New Ideas in Money podcast with MarketWatch reporter Charles Passy and economist Stephanie Kelton.

    [ad_2]

    Source link

  • From color-changing cars to self-driving strollers, here’s some of the coolest tech from CES 2023 | CNN Business

    From color-changing cars to self-driving strollers, here’s some of the coolest tech from CES 2023 | CNN Business

    [ad_1]



    CNN
     — 

    A long list of companies once again showed off an assortment of cutting edge technology and oddball gadgets at the Consumer Electronics Show in Las Vegas last week.

    There were new twists on foldable devices, cars that changed colors and smart ovens that live streamed dinners. There was a self-driving stroller, a pillow that pulsates to reduce anxiety and a locker from LG that claims to deodorize smelly sneakers in less than 40 minutes. At the event, some people gathered in groups, sitting in silence, to test out the latest virtual reality products.

    While some of these devices may never find their way into households, the products on display offer a glimpse at some of the biggest tech trends companies are anticipating this year and in the years ahead.

    Here’s a look at some of the buzziest products announced last week:

    BMW unveiled a wild color-changing concept car with 260 e-panels that can change up to 32 colors. During a demo, different parts of the car, including the wheel covers, flashed in varying hues and swirls of colors. The technology, which relies on panels that receive electrical impulses, isn’t ready for production. (Breaks between panels and what looked like wiring could be seen on the outside of the car.) But just imagine being able to drive a sporty red car on the weekends and then a conservative gray model when you go to work.

    If you think snapping photos of your meal for Instagram is overdone, now you can livestream your dinner as it cooks in real time and post it to your social feeds. Samsung’s new AI Wall oven features an internal camera that can capture footage of your baking food or allow you to keep tabs on it without ever leaving the couch. The oven, which uses an algorithm to recognize dishes and suggest cooking times and temperatures, also pushes notifications to your phone to prevent you from burning meals. The oven will launch in North America later this year; a price has not yet been announced.

    The self-driving stroller allows for hands-free strolling but only when a child is not inside

    Canadian-based baby gear startup Gluxkind was showed off its Ella AI Powered Smart Stroller. It offers much of the same tech seen in autonomous cars and delivery robots, including a dual-motor system for uphill walks and automatic downhill brake assist. It’s meant to serve as an “extra pairs of eyes and an extra set of hands,” according to the company’s website – not a replacement for a caregiver. The Ella stroller is able to drive itself for hands-free strolling – but only when a child is not inside.

    The Shiftall Mutalk mouthpiece puts a Bluetooth microphone over the mouth to quiet a user's voice

    No gadget at CES this year was as striking as the Mutalk mouthpiece from startup Shiftall. The device, which looks like a muzzle, features a soundproof Bluetooth microphone that makes it difficult for others in the room to hear your voice when you’re on calls. The company thinks the $200 gadget will come in handy for everything from voice chats and playing online games to shouting in VR when you don’t want to disturb anyone else nearby. Instead of hearing you, they will simply see your new mouthpiece; you can decide which is worse.

    If you ever wanted to hit 15 miles per hour on roller skates, this electric pair from French startup AtmosGear promises to help get you there. With a battery pack that holds an hour charge and the ability to travel over 12 miles, the skates can clip onto any existing roller skates, turning them into motor-propelled footwear. The skates are currently available for pre-order for $525.

    JBL Tour 2 Pro earbuds and case with smartphone-like abilities

    You’ve probably heard of smartphones that come with headphones, but what about headphones that come with a screen? The JBL Tour Pro 2 earbuds adds a touchscreen to the case to bring smartwatch-like capabilities by allowing users to control its settings, answer calls, set alarms, manage music and check battery life. No launch date has been announced, but the new buds will cost $250 when they eventually go on sale.

    Samsung's Flex Hybrid Display concept folds and slides

    Some companies offered a new twist on the foldable phone concept. For example, Samsung Display’s Flex Hybrid prototype features a foldable and slidable display (the right side slides to offer more screen space). Meanwhile, the Asus $3500 Zenbook 17 Fold OLED – the world’s first foldable 17-inch laptop – picked up significant buzz on the show floor, acting almost like a large tablet that can be folded in half when on the go.

    Dubbed “the world’s first awareable,” the $500 Nowatch is a watch… with no clock. The Amsterdam-based startup of the same name launched the device to help users monitor stress, body temperature, heart rate, movement and sleep. But unlike other smartwatches, there’s no watchface – instead, a gemstone sits where the touchscreen display typically goes. “We’ve replaced the traditional watch face with ancient stones, celebrating the belief that time is NOW,” the company said on its website.

    Representative Director, Chairman and CEO of Sony Honda Mobility Yasuhide Mizuno in front of a Afeela concept vehicle during a press event at CES 2023 at the Mandalay Bay Convention Center on January 04, 2023 in Las Vegas, Nevada.

    Honda and Sony have joined forces to create tech-filled electric cars that, they say, will be both fun to drive and filled with the latest entertainment innovation. According to the CEO of Sony Honda Mobility, its cars will recognize your moods and be highly communicative and sensitive to your needs. The car will have screens on the outside so it can “express itself” and share information and will be able to “detect and understand people and society by utilizing sensing and [artificial intelligence] technologies,” according to the company. That’s why the company named its first joint car brand Afeela, in that it just has to “feel” right. But it’s unclear if we’re afeeling that name.

    Withings U-Scan attaches to the toilet to collect data from urine

    While it typically requires a blood panel and a visit to the doctor’s office to learn more about vitamin deficiencies, Withins says its new $500 U-Scan device can tell you similar information right from the comfort of your own toilet. The device attaches to existing toilets and collects data from your urine stream to detect vitamin deficiencies, check hydration and monitor metabolism, according to the company. An additional device called the U-Scan Cycle Sync tracks periods and ovulation cycles.

    Schlage’s new smart lock is one of the first to work with Apple’s Home Key functionality, which allows users to upload their keys to their Apple Wallet and unlock their deadbolted front door directly from their phone or Apple Watch. The lock also works with Amazon Alexa and Google Assistant for voice controlled, hands-free locking. Available in two finishes, the deadbolt can manage access codes, view lock history and handle multiple locks at once. The lock, which will cost $300, will be available for purchase late this spring, according to a company press release.

    – CNN’s Peter Valdes-Depena contributed to this report

    [ad_2]

    Source link

  • Samsung estimates quarterly profit sank to 8-year low on demand slump | CNN Business

    Samsung estimates quarterly profit sank to 8-year low on demand slump | CNN Business

    [ad_1]


    Seoul
    Reuters
     — 

    Samsung Electronics flagged on Friday its quarterly profit tumbled to an eight-year low as a weakening global economy hammered memory chip prices and curbed demand for electronic devices.

    Profits at the world’s largest memory chip, smartphone and TV maker are expected to shrink again in the current quarter, analysts said, after Samsung announced its October-December operating profit likely fell 69% to 4.3 trillion won ($3.37 billion) from 13.87 trillion won a year earlier.

    It was Samsung

    (SSNLF)
    ’s smallest quarterly profit since the third quarter of 2014 and fell short of a 5.9 trillion won Refinitiv SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.

    “All of Samsung’s businesses had a hard time, but chips and mobile especially,” said Lee Min-hee, analyst at BNK Investment & Securities.

    Quarterly revenue likely fell 9% from the same period a year earlier to 70 trillion won, Samsung said in a short preliminary earnings release. Asia’s fourth-biggest listed company by market value is due to release detailed earnings later this month.

    Rising global interest rates and cost of living have dampened demand for smartphones and other devices that Samsung makes and also for the semiconductors it supplies to rivals including Apple

    (AAPL)
    .

    “For the memory business, the decline in fourth-quarter demand was greater than expected as customers adjusted inventories in their effort to further tighten finances,” Samsung said in the statement.

    Its mobile business’ profit declined in the fourth quarter as smartphone sales and revenue decreased due to weak demand resulting from prolonged macroeconomic issues, Samsung added.

    “Memory chip prices fell in the mid-20% during the quarter, and high-end phones such as foldable didn’t sell as well,” said BNK Investment’s Lee.

    Three analysts said they expected Samsung’s profits to dive again in the current quarter, with a likely operating loss for the chips business as a glut drives a further drop in memory chip prices.

    Samsung shares rose 0.3% in Friday morning trade, underperforming a 0.6% rise in the wider market. Shares of rival memory chip maker SK Hynix rose 1%.

    “The reason shares are rising despite the poor earnings result is… investors are hoping Samsung will need to reduce production, like Micron or SK Hynix said they would, which would help the memory industry overall,” said Eo Kyu-jin, an analyst at DB Financial Investment.

    Samsung had said in October that it did not expect much change to its 2023 investments. Analysts said that Samsung has a history of not announcing production cuts in memory chips, but could organically adjust investment by delaying bringing in equipment or through other ways.

    [ad_2]

    Source link

  • 411 is going out of service for millions of Americans | CNN Business

    411 is going out of service for millions of Americans | CNN Business

    [ad_1]


    New York
    CNN
     — 

    The operator is going off the hook for millions of customers.

    Starting in January, AT&T customers with digital landlines won’t be able to dial 411 or 0 to reach an operator or get directory assistance. AT&T in 2021 ended operator services for wireless callers, although customers with home phone landlines can still access operators and directory help. Verizon, T-Mobile and other major carriers still offer these services for a fee.

    On a notice on AT&T’s website, the company directs customers to find addresses and phone numbers on Google or online directories.

    “Nearly all of these customers have internet access to look up this information,” said an AT&T spokesperson.

    But a century ago, the operator functioned as Google. Everyone knew it as “Information.”

    “The operator was the internet before the internet. There’s a wonderful circularity there,” said Josh Lauer, an associate professor of media studies at the University of New Hampshire who is writing a book on the cultural history of the telephone.

    Operator services were a selling point to customers during the late 1800s and early 1900s. The operator was the essential link in the dominant Bell System, owned by American Telephone & Telegraph (AT&T), telecommunications network.

    The operator became the early face of the telephone, a human behind an emerging and complex technology. The job came to be occupied mostly by single, middle-class White women, often known as “Hello Girls.” The Bell System, known as Ma Bell, advertised its mostly female ranks of operators as servile and attentive – “The Voice with a Smile” – to attract and maintain customers.

    Well into the 20th century, AT&T offered weather, bus schedules, sports scores, time and date, election results and other information requests.

    “Telephone users interpreted her as an efficient way to locate any information,” wrote Emma Goodmann, an assistant professor of communication at Clarke University, in her 2019 paper on the history of telephone operators.

    On Halloween eve in 1938, during Orson Welles’ radio broadcast of “War of the Worlds,” New Jersey residents believed martians were invading and frantically phoned the operator for information on the invasion and to connect them with loved ones before the world ended.

    Three decades later, a Bell company said a customer called to ask the operator if he was a mammal, “like a whale,” while a woman wanted to know how to get a squirrel out of her house, according to Goodmann.

    The advance of technology like the internet and smartphones, the deregulation of the telecomms industry in the 1980s, and other factors have left human operators virtually extinct. In 2021, there were fewer than 4,000 telephone operators, down from a peak of around 420,000 in the 1970s, according to Bureau of Labor Statistics data.

    But there are still people who call the operator and request directory help.

    “411 usage is not insignificant,” the FCC said in a 2019 report. The FCC estimated then that 71 million calls annually were placed to 411.

    The first telephone exchange took place in New Haven, Connecticut, in 1878, two years after Alexander Graham Bell patented the telephone.

    It was designed to handle business communication, not social calls between local residents. Physicians, police, banks and the post office were some of the first subscribers.

    To connect a call, an operator at a switching office would take a request from a caller and physically plug one line into another.

    Bell and other telephone exchanges spread throughout the Northeast. Initially, telephone companies hired mostly men and boys to take calls. But the operator quickly became a gendered job.

    Male managers decided that women were better suited to answering and connecting calls from rude customers because they were seen as more docile and polite. Companies could also pay them less than men.

    Telephone companies sought female operators who would project a “comfortable and genteel image to their customers,” Kenneth Lipartito, a professor of history at Florida International University, wrote in a 1994 paper “When Women Were Switches.”

    Companies rejected Black and ethnic workers with accents, and policies barred female operators from being married. By 1900, more than 80% of operators were White, single, US-born women.

    A 'Hello Girls'  school at the Clerkenwell telephone exchange in 1932.

    Operator jobs were frenetic and repetitive.

    Workers had to scan thousands of tiny jacks, always keeping an eye open for lights indicating new calls and ones that ended. During peak times, operators handled several hundred calls an hour, Lipartito said.

    Training was also rigorous and procedures were strict. Women were instructed to modulate their voices to sound more polite answering calls and used approved language with callers.

    “Through training in the art of inflection she gains in those gentler qualities of unfailing courtesy,” a 1926 AT&T video, “Training for Service,” says.

    Although many of Bell’s independent telephone rivals began using “girlless” automated switchboards in the first decades of the twentieth century, the Bell System was committed to human operators. Automation could not provide the same level of personal service, Bell believed.

    “She’s one of 250,000 girls who help to give you good service, day and night, seven days a week. She’s your telephone operator,” read one typical Bell Systems magazine ad.

    Operators played a crucial function because telephone books were often inaccurate and customers could not be counted on to remember updated numbers and addresses.

    During the first decades of exchanges, operators also unintentionally became a catch-all for information. It was common for people to call and ask the operator for directions, the time and weather, baseball scores and other questions.

    By early part of the twentieth century, telephone companies began to separate requests for information and requests for telephone numbers.

    In 1968, the Bell System changed the name of its information service to “directory assistance” because too many people were taking the name too literally.

    “When she was called ‘Information,’ people kept calling her for the wrong reasons,” one Bell company ad said at the time. “Now we call her ‘Directory Assistance’ in the hope that you’ll call her only for numbers you can’t find in the phone book.”

    Strikes, competition for labor, and rising wages during and after World War I drove Bell to speed up its automation plans.

    In 1920, fewer than 5% of Bell exchanges had automated switchboards. A decade later, more than 30% were automated, according to a 2019 article by the Federal Reserve Bank of Richmond.

    The growth of automatic switchboards led to the direct-dial telephone in the 1920s. (The “0” for operator appeared with dial phones, said Lauer from the University of New Hampshire. On the new Bell dials, “Operator” was printed in the “0” position. The use of “411” also emerged with the dial era. “0” became universal for operator assistance and “411” was the number for directory assistance. In later years, if you dialed “0 and asked for directory assistance, the operator would transfer you over to “411.”)

    But electronic switchboards and direct dialing were phased in gradually and did not eliminate the need for human operators.

    An old dial telephone. The introduction of the dial in the 1920s eliminated the need for phone operators to connect local calls.

    Automatic switchboards were mainly used for local telephone calls. For decades after the introduction of direct dialing, operators still handled long-distance calls, toll calls, and calls to the police and fire department. This meant that operator jobs continued to rise until around the 1970s.

    Directory assistance was also mostly free for customers until the 1970s, when AT&T began charging customers to curb the “misuse” of the service and shift the high costs of employing operators and handling time-consuming queries for information.

    “Some people just simply don’t want to bother to look the number up themselves,” AT&T’s chairman complained in 1974.

    The breakup of AT&T in the 1980s and the deregulation of the telecommunications industry altered operator and directory services. Phone companies began to cut their ranks of operators, automate services and charge customers fees for calls.

    As companies increased prices, demand for directory assistance plunged. Meanwhile, the internet and smartphones emerged to replace these services for most callers.

    In 1984, there were 220,000 telephone operators. A decade later, there were 165,000, according to the Bureau of Labor Statistics. By 2004, at the dawn of the smartphone age, 56,000 people were employed as telephone operators.

    An operator in 1988. The ranks of operators fell sharply in the 1980s and 1990s.

    David McGarty, the president of US Directory Assistance, which provides services for major carriers, has watched the transformation of the operator firsthand.

    Calls to operators have decreased an average of 3% a year and around 90% overall since he started in 1996, he said.

    “We’re content with riding the Titanic down,” he said.

    While operator services may be nearly obsolete, it’s important to consider emergency circumstances where a caller may need to reach an operator and the customers who still rely on these services, such as low-income callers, the elderly and people with disabilities, said Edward Tenner, a technology historian in the Smithsonian’s Lemelson Center for the Study of Invention and Innovation. (AT&T said it would still offer free directory assistance to elderly customers and people with disabilities.)

    “Often tragedies happen when something is exceptional,” he said.

    He also empathized with people who are being forced to keep up with technological change, whether they like it or not.

    “There are a lot of people who, for various reasons, haven’t adapted,” Tenner said. “Why should they be forced to migrate to the web if they don’t want to?”

    [ad_2]

    Source link

  • CES 2023: AMD, Nvidia, auto applications get the hype, but analysts say this one chip maker ruled

    CES 2023: AMD, Nvidia, auto applications get the hype, but analysts say this one chip maker ruled

    [ad_1]

    As CES 2023 draws to a close, much of the attention in the chip world was lauded on companies like Advanced Micro Devices Inc. and Nvidia Corp. but a lower profile chip maker appears better positioned coming out of the convention.

    Morgan Stanley analyst Joseph Moore said there’s still a lot of caution about overall chip demand especially with softness in China, but autos appear to be one of the strong themes of CES 2023, he said.

    “The areas that have been weak remain somewhat weaker – notably memory, semi cap, and generally PC and cloud builds – while the markets that have been strong (such as automotive and industrial) remain strong but with lead times clearly starting to normalize, which likely points to longer term revenue pressures particularly in a weaker economy,” Moore said.

    “Still, the longer term themes remain positive, especially for autos (which is increasingly the focus of CES),around themes such as EVs, ADAS and autonomous.”

    Such was the case when Nvidia Corp.
    NVDA,
    +4.16%

     said on Tuesday it was partnering with Hon Hai Technology Group
    2317,
    +0.41%

     , or Foxconn, best known for being the manufacturer of Apple Inc.’s
    AAPL,
    +3.68%

    iPhone, to make electric vehicles that use Nvidia’s Drive Orin chips and sensors, and bringing its GeForce Now streaming video game service to autos made by Hyundai Motor Group
    005380,
    +0.31%
    ,
    BYD
    1211,
    -2.60%
    ,
    and Swedish EV maker Polestar.

    “We generally think that Nvidia numbers are likely OK from here, though there was some caution on sell through in China for gaming, and a clear awareness that while the company’s position within cloud is very good, that pressure in cloud budgets leads to somewhat lower visibility,” Moore said. “But we would say that generally we think that they are past the worst of the pressures in their business, in contrast to most of the semiconductor group where there are still likely numbers cuts ahead.”

    Meanwhile, Advanced Micro Devices Inc.
    AMD,
    +2.62%

    used the CES keynote to introduce the Instinct MI300 chip as “world’s first data-center integrated CPU + GPU.” The  combined central processing unit and graphics processing unit meant for AI inference, the months-long process where data centers spend millions of dollars a year on electricity to train and develop artificial intelligence. AMD Chief Executive and Chair Lisa Su said the MI300 can reduce the time it takes for an inference modeling process from months to weeks.

    But one chip maker that doesn’t get a lot of attention appeared to emerge from CES best positioned for the year: ON Semiconductor Corp.
    ON,
    +4.57%
    ,
    which focuses on electric vehicles and advanced driver assistance systems as primary growth drivers, leveraging its legacy position in auto chips.

    “Most notably, the company’s push into [Silicon Carbide] remains on track, and expect to still exit the year at a run-rate where the majority of crystal driving the business is internally sourced,” Moore said. “The company remains confident that demand in the EV space will far outpace supply for a long time and have thus shifted their focus over to execution on the production side.”

    Citi Research analyst Christopher Danley lauded ON as being the most bullish chip maker of CES 2023.

    “ON remains on track to triple Silicon Carbide revenue YoY from roughly $300 million in 2022 to $1.0 billion in 2023,” Danley said. “The company stated it is sold out through 2023.”

    But ON aside, Danley said everyone at CES is “nervous” about “cracks” in data-center demand, “and they should be.”

    “There was a tone of nervousness on the data center outlook with many execs and investors cautious and talking about ‘uncertainty’ in data center outlooks from both hyperscalers and enterprise customers,” Danley said. “We continue to believe data center correction will happen given a multitude of datapoints and leading indicators.”

    Back in early December, Danley said his checks “indicate order rates from the data center end market are fading with downside from the enterprise end market (roughly 40% of the data center end market) and Facebook,” which is owned by parent company Meta Platforms Inc.
    META,
    +2.43%

    “We continue to expect a correction in the data center end market in 1H23,” Danley said.

    That said, Danley said his top pick was and continue to believe a correction there is inevitable. We remain cautious on semis until all end markets and companies correct and our top pick remains chip maker Analog Devices Inc.
    ADI,
    +3.65%

    Back to autos: Ambarella Inc.
    AMBA,
    +6.77%

    on Thursday, Ambarella said it was partnering with Continental AG
    CON,
    +2.32%

    to develop hardware and software for assisted driving using AI with the ultimate goal of an autonomous driving system. The companies hope to have systems in production in 2026.

    Moore said Ambarella’s tech “continues to impress,” and said the Continental partnership will provide software revenue that’s shared but with the larger portion going to Continental.

    At CES 2023, “the companies are showing a full L2+ ADAS implementation for a 10-camera system running on a single chip, which per AMBA was only using 8% of the compute value of the chip.”

    [ad_2]

    Source link

  • Apple is raising the price of iPhone battery replacements | CNN Business

    Apple is raising the price of iPhone battery replacements | CNN Business

    [ad_1]



    CNN
     — 

    Apple is raising the price of battery replacements for all out-of-warranty iPhone models prior to the current iPhone 14 lineup, the company confirmed on its website.

    Starting March 1, Apple

    (AAPL)
    will charge $89 for battery replacements for iPhone X through iPhone 13 models, a $20 increase from the current price of a new battery. Battery replacements for other models, such as the iPhone SE and iPhone 8, will jump from $49 to $69.

    Apple is also raising the cost of replacing batteries for other products. Batteries for newer iPad models will cost $20 more, while it will cost $30 more for a new MacBook Air battery and $50 more for MacBook Pro models.

    Apple devices typically come with one year of warranty. The changes only apply to customers who are not part of its AppleCare+ repair service program, which provides up to two or three years of coverage and varies in cost depending on product.

    Apple first lowered the price of iPhone battery replacements from $79 to $29 in 2018, after it was discovered that the company deliberately slowed down the performance of older iPhones to prevent sudden battery shutdowns. In response to the controversy, dubbed batterygate, Apple also issued a rare apology and agreed to a $113 million settlement with dozens of states.

    In raising prices now, Apple may be responding to an uptick in the cost of products amid rising inflation and supply chain issues. By taking this step, Apple could also make it less attractive for customers to delay upgrading their devices or drive them to pay for the repair service program.

    The news comes as Apple’s market cap fell below $2 trillion in trading on Tuesday for the first time since early 2021 and one year to the day after the company became the first public tech company valued at $3 trillion.

    Like other tech companies, Apple has grappled with supply chain hiccups and concerns that recession fears could weigh on advertiser and consumer spending, including for pricier products like the iPhone.

    [ad_2]

    Source link

  • Inflation fears fade as geopolitical risks rise | CNN Business

    Inflation fears fade as geopolitical risks rise | CNN Business

    [ad_1]

    A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.


    New York
    CNN
     — 

    Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. Most notable? Concerns about the increasingly chaotic geopolitical landscape.

    “Inflation shockwaves” still feature as one of Eurasia’s top political risks for 2023 in a new report.

    But perhaps surprisingly, inflation ranks fourth on the list, behind worries about a rogue Russia under the leadership of Vladimir Putin and Xi Jinping’s consolidation of power in China.

    Eurasia’s third biggest fear — the increased use of artificial intelligence technology to wreak havoc on the global economy — only adds to jitters about disruption from Russia and China. Eurasia called AI “a gift to autocrats.”

    Eurasia, led by political scientist and author Ian Bremmer, pointed out that Russia’s war with Ukraine may become an even bigger problem for the United States and Europe.

    “Nuclear saber-rattling by Moscow will intensify. Putin’s threats will become more explicit,” Eurasia said in its report. It is also concerned that “Kremlin-affiliated hackers will ramp up cyberattacks on Western firms and governments.”

    That could mean attempts to disrupt oil pipelines, American and European satellites and other telecom and tech infrastructure, as well as further efforts to influence and sabotage global elections.

    “Moscow will step up its rogue behavior…with newly empowered influence operations targeting NATO countries,” Eurasia said in the report.

    Eurasia pointed to upcoming Polish elections in 2023 as “the most obvious target” but that other Western nations “will be vulnerable, too.”

    Autocracy in China is a potential economic and market headache as well.

    “Xi’s drive for state control will produce arbitrary decisions and policy volatility. China’s economy is in a fragile state after two years of harsh Covid-19 controls,” Eurasia noted, pointing out that “plummeting homebuyer and market sentiment have ground growth in the critical real estate sector to a halt, depleting local government revenue.”

    Eurasia added that the “backdrop of weakening global growth and deepening domestic challenges demands competent economic management from Beijing.” Instead, “the Chinese leadership is delivering opacity and unpredictability.”

    Chinese officials announced in October that they were delaying the release of key economic data, news that Eurasia said “was an ominous sign of things to come for global markets.”

    All of this uncertainty comes as China continues to face the growing Covid outbreak in the country. Eurasia fears that “if a severe new strain of Covid were to emerge,” it is “more likely that it would spread widely in China and beyond.

    “China would be unlikely to identify the new variant because of reduced testing and sequencing, to recognize more severe disease due to an overwhelmed health system, and to let news of a more severe variant get out given Xi’s track record on transparency,’ Eurasia said. “The world would have little or no time to prepare for a deadlier virus.”

    Meanwhile, Eurasia also is worried that Beijing “will deploy new technologies not only to tighten surveillance and control of its own society, but also to spread propaganda on social media and intimidate Chinese language communities overseas.”

    None of this is to suggest that worries about rising prices have dissipated.

    While inflation is listed as the fourth-biggest risk, Eurasia is still concerned that “rising interest rates and global recession will raise the risk of emerging-market crises.”

    Energy prices in particular will remain a sticking point for the global markets and economy as Eurasia notes that “higher oil prices will also increase frictions between OPEC+ and the United States.”

    And Eurasia also listed concerns about instability in Iran, shrinking water levels and economic inequality as major global challenges.

    Then there’s another new and distinctly 21st century worry: the rise of social media.

    “Gen Z has both the ability and the motivation to organize online to reshape corporate and public policy, making life harder for multinationals everywhere and disrupting politics with the click of a button,” Eurasia said, referring to the phenomenon as the “Tik Tok Boom.”

    Sam Bankman-Fried, the disgraced founder of bankrupt crypto exchange FTX, had another day in court on Tuesday.

    Bankman-Fried, more commonly referred to by his initials, SBF, plead “not guilty” to charges ranging from wire fraud and conspiracy to commit money laundering to conspiracy by misusing customer funds.

    SBF appeared in a Manhattan court Tuesday after he was arrested last month in the Bahamas, extradited to the United States and then released by a judge on a $250 million bail package. But as my colleague Kara Scannell reports, the legal drama for SBF is only beginning. The judge set a trial date of October 2.

    Prosecutors allege that SBF was in charge of “one of the biggest financial frauds in American history.” They claim that he moved (or stole) billions of dollars from FTX customers to cover losses at the firm’s companion hedge fund, Alameda Research.

    The cryptocurrency world was already in turmoil before FTX imploded. The prices of bitcoin, ethereum and other digital coins all plummeted in 2022. But FTX and Alameda were each forced to file for bankruptcy in December after investors rushed to pull deposits.

    FTX was once valued at $32 billion, based on funding from private investors. The company was expected to be one of the hottest initial public offerings of 2023 as recently as the middle of last year. Not any more.

    Covid woes hurt Apple

    (AAPL)
    last year, as the world’s largest iPhone factory in China faced production disruptions since October due to the pandemic.

    But the giant campus, owned by top Apple supplier Foxconn, is reportedly now back at 90% production capacity following worker protests and Covid-related restrictions.

    Apple needs to get more of its latest smartphones into people’s pockets. Delays with the various iPhone 14 models have cost the company — and its investors — dearly.

    Wedbush Securities analyst Dan Ives estimated in November that disruptions in China led to about $1 billion a week in lost revenue.

    And analysts at UBS also said in November that wait times for the new iPhone 14 Pro and 14 Pro Max in the US were more than a month long due to supply chain woes. That couldn’t have come at a worse time since it was just before Christmas and other winter holidays.

    Apple’s stock had a tough 2022, like the rest of Big Tech, and it didn’t start off 2023 in a festive fashion either. Shares of Apple hit a new 52-week low Tuesday. Apple’s market value dipped below $2 trillion in the process. Just a year ago, Apple was the first company in the world to reach a $3 trillion market valuation.

    [ad_2]

    Source link

  • Apple valued below $2 trillion for the first time in more than 21 months as stock slides

    Apple valued below $2 trillion for the first time in more than 21 months as stock slides

    [ad_1]

    Apple Inc. finished Tuesday with a valuation below $2 trillion for the first time in more than 21 months amid a continued slide in its stock that reflects concerns about the impact of production issues and the sustainability of consumer demand.

    The smartphone giant was valued at $1.990 trillion as of the end of Tuesday trading. Prior to that, Apple hadn’t closed with a valuation south of $2 trillion since March 8, 2021, according to Dow Jones Market Data, and its stock price hasn’t implied an intraday valuation below that level since March 30, 2021.

    The slide in Apple shares
    AAPL,
    -3.74%

    over the past year has shaved $996.5 billion from the company’s peak closing market capitalization.

    The smartphone giant peaked with a closing valuation of $2.986 trillion exactly a year ago, on Jan. 3, 2022. More recently, the company has been dogged by questions about the impact of manufacturing issues in China, where COVID-19 curbs forced production disruptions late last year.

    While the company is typically thought to have durable demand on the assumption that customers will delay purchases or put up with long delivery times in order to obtain desired Apple products, some analysts have questioned whether Apple will be able to make up for all of its lost demand in future quarters.

    A Nikkei Asia report from earlier this week hinted at demand challenges. The report, which cited anonymous sources, said that Apple has told some of its suppliers to make fewer components for AirPods, Apple Watches and MacBook computers in the first quarter.

    Apple didn’t respond to a MarketWatch request for comment.

    Apple’s stock was the biggest loser in the Dow Jones Industrial Average
    DJIA,
    -0.03%

    Tuesday.

    [ad_2]

    Source link

  • Digitunity Launches Video Series Examining the Digital Divide

    Digitunity Launches Video Series Examining the Digital Divide

    [ad_1]

    “Pressing On: In Pursuit of Digital Equity” examines the effects of the technology gap on youth, older adults, veterans, and other marginalized people.

    Press Release


    Jan 3, 2023 08:00 EST

    Over 36 million Americans don’t have a computer at home, which limits their access to education, healthcare, and other resources. Digitunity, a national nonprofit dedicated to advancing digital equity through device ownership, has launched a YouTube series, “Pressing On: In Pursuit of Digital Equity”, that spotlights those affected by the digital divide and explores possible solutions.

    Digitunity connects donations of computers with people who need them through a nationwide network of community partners. The organization’s research and nearly four decades of experience show that the digital divide disproportionately affects lower-income individuals, older adults, rural communities, veterans, and military families. 

    “We’re presenting stories from across America of students trying to succeed in school, workers training for better jobs, patients connecting with their doctors, and the organizations working to get these individuals what they need,” said Scot Henley, Digitunity’s executive director. “Digitunity’s mission is to narrow the digital divide.” 

    In collaboration with its cornerstone partners, including Alliant Credit Union, AVID Products, Onepak, and CompTIA, Digitunity plans to release a new “Pressing On” video on its YouTube channel every Sunday evening through early 2023. In the opening video, Dennis Devine, president and CEO of Alliant Credit Union, outlines the “Corporate Benefits of Partnering with Digitunity.”

    Alliant is a not-for-profit financial cooperative and one of the nation’s largest credit unions. It was the first partner to sign Digitunity’s Corporate Pledge to End the Digital Divide. Devine notes that, this past year, more bank branches have closed in the U.S. than ever in the history of banking. This is why it is critical for everyone to have digital access to financial information. 

    “As a digital financial institution, we approach bridging the digital divide as a unique opportunity and make it part of our mission,” he says. “We understand the importance of equitable digital access, and therefore, we have committed our resources and our team’s talents to digital equity. Alliant also has a Foundation with the mission to enhance the communities we serve and support our digital equity efforts.”

    Digitunity’s “Pressing On” series covers topics including:

    • Digital Inclusion & Equity
    • Digital Literacy 
    • Workforce Development
    • Computer Access for People with Disabilities
    • Upward Mobility for Youth
    • Technology Access, Health, & Wellness for Older Adults
    • The Impact of Digital Inequity on Veterans

    Since Digitunity’s inception, hundreds of thousands of people have benefitted from its efforts. Its perspective has been shaped by decades of experience creating local impact through the benefit of a national lens. As an independent, national nonprofit focused on advancing digital equity through device ownership, Digitunity is unique in the digital inclusion landscape. 

    Having a connected computer and the skills to use it productively is a fundamental need. The issue of the digital divide persists across all boundaries. Digitunity remains committed to eliminating the technology gap so everyone can thrive in our digitally connected society. To learn more, please visit www.digitunity.org.

    About Digitunity
    Since the 1980s, Digitunity has advanced digital inclusion by connecting donors of technology with organizations serving people in need. Our mission is to ensure everyone who needs a computer has one, along with robust internet connectivity and digital literacy skills. To learn more about our mission, visit www.digitunity.org.

    Source: Digitunity

    [ad_2]

    Source link

  • World’s largest iPhone factory bounces back from Covid disruption that hurt Apple | CNN Business

    World’s largest iPhone factory bounces back from Covid disruption that hurt Apple | CNN Business

    [ad_1]


    Hong Kong
    CNN
     — 

    Production at the world’s biggest iPhone factory, disrupted since October by China’s Covid-19 restrictions and worker protests, is now running at nearly full capacity, according to a Chinese state media report.

    The sprawling campus in central China, owned by Apple

    (AAPL)
    supplier Foxconn, was running at 90% of planned production capacity at the end of December, the Henan Daily newspaper reported Tuesday. It cited an interview with Wang Xue, deputy general manager of the facility, which is also known as iPhone city.

    “At the moment, the order books look good, and the orders will peak from now until a few months after Chinese New Year,” he was quoted as saying. The Lunar New Year will begin on January 22.

    Foxconn hasn’t yet responded to CNN’s request for comment about the report.

    The company said last month it was working on restoring production, which had been badly affected by supply disruptions caused by Covid restrictions. Wedbush Securities analyst Daniel Ives estimated in November that the disruptions in Zhengzhou had been costing Apple roughly $1 billion a week in lost iPhone sales.

    According to a UBS report in November, the wait time for the latest 14 Pro and 14 Pro Max in the United States touched 34 days just before the Christmas holidays because of supply chain constraints in China. The UBS analyst called the wait time “extreme.”

    The Henan Daily separately quoted an executive responsible for Foxconn’s logistics as saying that, in the first two days of January, the volume of inbound and outbound shipments had reached the highest level in a year.

    The report of a nearly full resumption of production comes one month after China abruptly ended three years of pandemic controls, setting off a huge wave of Covid infections.

    According to a report in the Wall Street Journal, a letter from Foxconn founder Terry Gou played a major role in persuading Chinese leaders to accelerate plans to dismantle the country’s Covid-19 policies. Gou was quoted as warning that strict Covid controls would threaten China’s central position in global supply chains.

    Gou’s office told CNN that it “denies the report and its contents.”

    Wang was quoted by the Henan Daily as saying iPhone City currently had about 200,000 workers on site. The employees were each eligible for a maximum of 13,000 yuan ($1,883) per month in bonuses, he said, without specifying their base salaries.

    The troubles for Foxconn started in October when workers left the campus, located in the central Chinese province of Henan, because of concerns about Covid-related working conditions and shortages of food. Short on staff, bonuses were offered to workers to return.

    But violent protests broke out in November when the newly-hired staff said management reneged on their promises. Workers clashed with security officers, before the company eventually offered them cash to quit and leave the site.

    Analysts said the production woes at iPhone City would speed up the pace of Apple’s supply chain diversification away from China.

    [ad_2]

    Source link

  • Dow futures jump more than 300 points as traders start 2023 on a bullish note

    Dow futures jump more than 300 points as traders start 2023 on a bullish note

    [ad_1]

    U.S. stock index futures rose Tuesday as investors returned from the festive break in a generally bullish mood.

    How are stock-index futures trading
    • S&P 500 futures
      ES00,
      +0.49%

      advanced 41 points, or 1.1%, to 3902

    • Dow Jones Industrial Average futures
      YM00,
      +0.42%

      gained 332 points, or 1%, to 33617

    • Nasdaq 100 futures
      NQ00,
      +0.67%

      climbed 122 points, or 1.1%, to 11144

    On Friday, the Dow Jones Industrial Average
    DJIA,
    -0.22%

    fell 74 points, or 0.22%, to 33147, the S&P 500
    SPX,
    -0.25%

    declined 10 points, or 0.25%, to 3840, and the Nasdaq Composite
    COMP,
    -0.11%

    dropped 12 points, or 0.11%, to 10466. The Nasdaq Composite fell 33.1% in 2022, the largest one year percentage decline since 2008.

    What’s driving markets

    After Wall Street’s S&P 500 benchmark dropped nearly 20% in 2022, equity investors appeared determined on Tuesday to start the new year of trading on a positive note.

    Activity in index futures was choppy, however, with the S&P 500 contract wobbling in a 55 point range in early-hours action.

    “The calendar year may have changed, but the themes remain the same as the U.S. and U.K. markets reopen for 2023,” said Richard Hunter, head of markets at Interactive Investor.

    “Recessionary concerns will again top the agenda, underpinned by high inflation and rising interest rates. This in turn could point to a troubled January as investors search for positive indications that the tightening policies of the central banks may begin to ease given weakening economic data,” Hunter added.

    Indeed, the International Monetary Fund greeted the new year with a warning that a third of the global economy will suffer recession in 2023, a downturn that will likely trim corporate profits.

    In addition, a burst of fresh strength in the U.S. dollar
    DXY,
    +1.16%

    on Tuesday – a common reaction to global economic slowdown worries – was likely to further crimp earnings of U.S. multinationals.

    Still, Julian Emanuel , strategist at Evercore ISI, reckoned that such concerns don’t necessarily mean stocks can’t rally.

    “Forecasting an earnings recession in 2023 to accompany the economic recession that now seems inevitable, along with a 2023 year end S&P 500 price target of 4,150, would seem impossible,” he said in a note to clients.

    “Yet not only is there a long history of earnings down/stocks up years (1970, 1982 and 1985 stand out, but there is also the tendency for strong stock/bond return years to follow historically forceful tightening cycles (1982, 1985) particularly in years (1995) following ‘havoc being wreaked’ on a 60/40 portfolio such as 2022’s declines.” Emanuel added.


    Source: Evercore ISI

    U.S. economic updates set for release on Tuesday include the December S&P U.S. manufacturing PMI at 9:45 a.m. and the November reading of construction spending at 10 a.m., both times Eastern.

    [ad_2]

    Source link

  • AMD Stock Should Benefit From Next-Generation Computer Chips

    AMD Stock Should Benefit From Next-Generation Computer Chips

    [ad_1]

    These reports, excerpted and edited by Barron’s, were issued recently by investment and research firms. The reports are a sampling of analysts’ thinking; they should not be considered the views or recommendations of Barron’s. Some of the reports’ issuers have provided, or hope to provide, investment-banking or other services to the companies being analyzed.

    Advanced Micro Devices AMD-Nasdaq

    Buy (four stars out of five) • Price $64.52 on Dec. 23

    by CFRA

    Our Buy recommendation reflects our expectation for significant share gains on the central-processing-unit data-center side from the ramp-up of AMD’s next-generation EPYC processor, greater momentum for AMD’s graphics processing units, and our expectation for balance sheet improvement.

    [ad_2]

    Source link

  • These 20 energy stocks are worth a look if you think oil prices will soar in 2023

    These 20 energy stocks are worth a look if you think oil prices will soar in 2023

    [ad_1]

    Harris Kupperman, the president of Praetorian Capital, made a couple of interesting calls heading into 2022. He predicted that stocks of the giant tech-oriented companies that led the bull market would be sold off, and that oil prices would continue to rise through the end of 2022.

    The first prediction came true, while the second one for oil prices fizzled. After rising to $130 in March, oil prices have fallen back to where they started the year. Then again, that second prediction still could have made you a lot of money because the share prices of oil companies kept rising anyway.

    That leads to a new prediction for 2023 and a related stock screen below.

    Here’s a chart showing the movement of front-month contract prices for West Texas Intermediate (WTI) crude oil
    CL.1,
    -0.62%

    since the end of 2021:


    FactSet

    Even though Kupperman didn’t get his oil price call right, the energy sector of the S&P 500
    SPX,
    -1.20%

    was up 60% for 2022 through Dec. 27, excluding dividends. That is the only one of the 11 S&P 500 sectors to show a gain in 2022. And the energy sector is also cheapest relative to earnings expectations, with a forward price-to-earnings ratio of 9.8, compared with 16.7 for the full S&P 500.

    WTI pulled back from its momentary peak at $130.50 in early March, but that didn’t reverse the long-term trend of low capital spending by oil and natural gas producers, which has given investors confidence that supplies will remain tight.

    Vicki Hollub, the CEO of Occidental Petroleum Corp.
    OXY,
    -3.50%

    the best-performing S&P 500 stock of 2022 — said during a recent interview that there was “no pressure to increase production right now,” citing a $40 per barrel break-even point for oil prices.

    Kupperman now expects strong demand and low supplies to push oil as high as $200 a barrel in 2023.

    At the end of November, these 20 oil companies stood out as reasonable plays for 2023 based on expectations for free-cash-flow generation and dividend payments.

    For this next screen, we are only looking at ratings and consensus price targets among analysts polled by FactSet.

    There are 23 energy stocks in the S&P 500, and you can invest in that group easily by purchasing shares of the Energy Select SPDR ETF
    XLE,
    -2.24%
    .
    We can expand the list of large-cap names by looking at the components of the iShares Global Energy ETF
    IXC,
    -1.91%
    ,
    which holds all the energy stocks in the S&P 500 plus large players based outside the U.S.

    The top five holdings of IXC are:

    Company

    Ticker

    Country

    % of portfolio

    Share “buy” ratings

    Dec. 27 price

    Price target

    Implied 12-month upside potential

    Exxon Mobil Corp.

    XOM,
    -1.64%
    U.S.

    16.4%

    54%

    110.19

    118.89

    7.89%

    Chevron Corp.

    CVX,
    -1.48%
    U.S.

    11.5%

    54%

    179.63

    190.52

    6.06%

    Shell PLC

    SHEL,
    -0.70%
    U.K.

    7.8%

    83%

    23.67

    29.82

    25.99%

    TotalEnergies SE

    TTE,
    -1.40%
    France

    5.6%

    62%

    59.63

    64.40

    8.00%

    ConocoPhillips

    COP,
    -2.67%
    U.K.

    5.4%

    83%

    118.47

    140.84

    18.88%

    Source: FactSet

    Prices on the tables in this article are in local currencies.

    IXC holds 51 stocks. To expand the list for a stock screen, we added the energy stocks in the S&P 400 Mid Cap Index
    MID,
    -1.24%

    and the S&P Small Cap 600 Index
    SML,
    -1.89%

    to bring the list up to 91 companies, which we then pared to 83 covered by at least five analysts polled by FactSet.

    Here are the 20 companies in the list with at least 75% “buy” or equivalent ratings that have the most upside potential over the next 12 months, based on consensus price targets:

    Company

    Ticker

    Country

    Share “buy” ratings

    Dec. 27 price

    Price target

    Implied 12-month upside potential

    EQT Corp.

    EQT,
    -7.82%
    U.S.

    83%

    36.34

    59.14

    63%

    Green Plains Inc.

    GPRE,
    -2.72%
    U.S.

    80%

    29.80

    43.40

    46%

    Cameco Corp.

    CCO,
    +0.33%
    Canada

    100%

    30.48

    44.25

    45%

    Talos Energy Inc.

    TALO,
    -8.40%
    U.S.

    86%

    19.77

    28.67

    45%

    Ranger Oil Corp. Class A

    ROCC,
    -6.22%
    U.S.

    100%

    41.33

    58.00

    40%

    Tourmaline Oil Corp.

    TOU,
    -4.92%
    Canada

    100%

    71.40

    98.83

    38%

    Civitas Resources Inc.

    CIVI,
    -4.06%
    U.S.

    100%

    58.82

    80.83

    37%

    Inpex Corp.

    1605,
    -2.08%
    Japan

    88%

    1,477.00

    1,965.56

    33%

    Diamondback Energy Inc.

    FANG,
    -2.26%
    U.S.

    84%

    137.58

    181.90

    32%

    Santos Limited

    STO,
    -3.12%
    Australia

    100%

    7.20

    9.26

    29%

    Matador Resources Co.

    MTDR,
    -3.98%
    U.S.

    79%

    57.59

    73.75

    28%

    Targa Resources Corp.

    TRGP,
    -2.63%
    U.S.

    95%

    73.89

    94.05

    27%

    Cenovus Energy Inc.

    CVE,
    -2.55%
    Canada

    84%

    26.24

    33.22

    27%

    Shell PLC

    SHEL,
    -0.70%
    U.K.

    83%

    23.67

    29.82

    26%

    Ampol Limited

    ALD,
    -2.89%
    Australia

    85%

    28.29

    35.01

    24%

    EOG Resources Inc.

    EOG,
    -3.54%
    U.S.

    79%

    132.08

    157.52

    19%

    ConocoPhillips

    COP,
    -2.67%
    U.S.

    83%

    118.47

    140.84

    19%

    Repsol SA

    REP,
    -0.66%
    Spain

    75%

    15.05

    17.88

    19%

    Halliburton Co.

    HAL,
    -3.03%
    U.S.

    86%

    39.27

    45.95

    17%

    Marathon Petroleum Corp.

    MPC,
    -1.97%
    U.S.

    76%

    116.82

    132.56

    13%

    Source: FactSet

    Click on the tickers for more information about the companies.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    [ad_2]

    Source link

  • You got a new iPhone for the holidays. Here’s the ultimate guide to getting the most out of it

    You got a new iPhone for the holidays. Here’s the ultimate guide to getting the most out of it

    [ad_1]

    iPhone 14

    Sofia Pitt | CNBC

    You may have gotten Apple’s iPhone 14 as a gift for the holidays. If you’re upgrading from a much older iPhone model, there’s going to be a bit of a learning curve when it comes to navigating your brand-new iPhone.

    If you were gifted the iPhone 14 Pro or Pro Max, you may be wondering what a Dynamic Island is (that little floating graphic at the top of your screen). If you were gifted any of the iPhone 14 models, you’ll want to know what emergency SOS via satellite is and how to use it. There are also little hacks you should know about, such as editing or unsending iMessages, which I use all the time and can really come in handy.

    Here are some iPhone 14 tips and tricks to get you started.

    How to edit or unsend an iMessage

    How to edit an iMessage in iOS 16

    Todd Haselton | CNBC

    You can now edit and delete iMessages you’ve already sent. This next feature works for anyone who has an iPhone released in 2017 or later. Just make sure your iPhone is running on iOS 16 or newer. (You can check by going to Settings > General > About.)

    You’ll have only two minutes to unsend an iMessage and 15 minutes to edit an iMessage. This perk doesn’t work with SMS text messages, the type that shows up as green bubbles instead of blue ones. And it only works if the other person you’re texting also has iOS 16 or newer installed.

    To edit an iMessage:

    • Open iMessage.
    • Press and hold the message you want to edit.
    • A Quick Actions menu will appear.
    • Tap Edit.
    • Choose Edit to change the message.
    • Once you’re done editing, hit the blue check mark.
    • You can edit a single message up to five times.
    • You’ll have 15 minutes from the time you sent it to change your message.

    To unsend an iMessage:

    • Open iMessage.
    • Press and hold the message you want to unsend.
    • A Quick Actions menu will appear.
    • Tap Undo Send.
    • Undo Send works up to two minutes after sending.
    • When you try to unsend iMessages that were sent to someone running iOS 15 or earlier software, they may still be able to see them.
    • If the person you are texting has iOS 16, a message will appear saying you unsent a text message. The person you’re texting won’t know what that message was, as long as they didn’t see a preview of that text when the original iMessage was sent.

    How to delete duplicate photos

    A new feature called “duplicate detection” helps to aggregate all of your repetitive photos. It’s only available on iOS 16, which you can download as long as you have an iPhone 8 or newer. Using this new feature can help you free up wasted storage space.

    To delete duplicate photos:

    • Open the Photos app on your iPhone.
    • Tap Albums at the bottom of your screen.
    • In Albums, scroll down to the section titled Utilities.
    • Under the Utilities section, select Duplicates.
    • You’ll see duplicate matches and an option to Merge.
    • Tap Merge to delete duplicate photos.
    • To go through your duplicates faster, choose Select in the top right corner to choose multiple photos at once. You can even choose Select All to merge all of the duplicate photos iOS 16 detects.

    How to turn on the battery percentage indicator

    Apple’s iOS 16 Beta 5 shows battery percentage

    Todd Haselton | CNBC

    You can now see your battery percentage in the battery icon at the top of your screen. It’s useful if you want more details on how much battery life you have left. Knowing you have a 60% charge is a lot easier to see than trying to gauge it from an icon. So, turn on the battery percentage indicator.

    How to turn on the battery percentage indicator:

    • Open Settings.
    • Tap Battery.
    • Toggle on Battery Percentage.

    You’ll now see that little number indicating your battery life inside the battery icon on the top right-hand corner of your iPhone screen.

    How to use emergency SOS via satellite

    Emergency SOS via satellite on iPhone 14.

    Apple

    In November, Apple launched emergency SOS via satellite for all iPhone 14 users, which allows users to text emergency services when they’re off the grid, whether camping in the mountains or driving in a remote area at night. The service is free for the first two years.

    How to use emergency SOS via satellite:

    • In the event of an emergency, try calling 911. If you don’t have cell service, your phone will try to connect to another carrier’s tower. If that doesn’t work, an option to use “Emergency Text via Satellite” will pop up.
    • You can also go to iMessage to text 911 or SOS, then tap Emergency Services.
    • An option will populate, allowing you to tap to report an emergency.
    • Emergency questions will populate to help you best describe your situation. The first prompt will say “What’s the emergency?” You’ll then be able to select from options such as “Car or vehicle issue” or “sickness or injury.” Next, you’ll be led through a series of more in-depth questions.
    • You’ll be given the option to notify your emergency contacts to let them know you reached out to emergency services, along with your location and the nature of your emergency. You can also use the Find My app to share your location with friends and family via satellite.
    • To connect to a satellite, your phone will ask you to point it toward the sky. As long as you have a clear view, you should be able to connect to a satellite, but it could take up to 15 seconds for your messages to go through. If you don’t have a clear view of the sky, because of trees or another obstruction, the texts may take a minute to go through. And because satellites orbit the earth quickly, you’ll have to move your phone slightly to stay connected throughout the conversation.
    • Once you’ve connected to emergency services via satellite, they’ll immediately know your location and the nature of your emergency, but you’ll be asked a few more questions to help emergency personnel locate you and to come prepared.
    • If you have your medical ID set up through your iPhone’s health settings, emergency services will be able to see important personal information, like what medications you’re taking and the names of your emergency contacts.

    How to identify a song

    Tap this button to identify songs from your iPhone.

    Todd Haselton | CNBC

    This next trick works with all iPhones, but many people don’t know about it and it’s super fun and useful. You can identify the song that’s playing on the radio at a bar, in your car, or at a friend’s house, all without having to open an app. All you have to do is swipe down and tap a single button.

    Apple acquired the music recognition service Shazam in 2018 and setting it up on your iPhone is easy.

    • Open Settings on your iPhone.
    • Tap Control Center.
    • Scroll down under “More” and tap the green ‘+’ button next to Music Recognition.

    That adds the music recognition function to Control Center, which you access by swiping down from the top-right of your screen, or from the bottom of the screen if you have an iPhone with a Home button.

    Once you’ve done that, you can use your iPhone to identify a song by swiping down from the top-right of the screen to open Control Center and then tapping the Shazam button. Your phone will listen for a few seconds, then show the artist and title at the top of your screen. And it’ll save a history of the songs you’ve identified so you can go back and see them later. To do that, just press and hold the Shazam button.

    How to use widgets

    Widgets on your iPhone let you see info from your favorite apps without having to actually open those apps. You can use widgets on your home screen and lock screen, or you can use widgets from Today View by swiping right from the home screen or lock screen.

    To see widgets on your home screen:

    • From the Home Screen, touch and hold a widget or an empty area until the apps jiggle.
    • Tap the Add button in the upper left corner.
    • Select a widget, choose a widget size, then tap Add Widget.
    • Tap Done.

    To add widgets from Today View:

    • Touch and hold a widget or an empty area in Today View until the apps jiggle. You can access Today View by swiping right from the home screen or lock screen.
    • Tap the add button in the upper left corner.
    • Scroll down to select a widget, then choose from three widget sizes.
    • Tap Add widget, then tap Done.

    How to clean up your home screen

    The App Library organizes all of your apps for you.

    Todd Haselton | CNBC

    To keep your iPhone’s home screen organized, you can clean things up by adding and deleting apps.

    To save space and declutter your iPhone, here’s how to delete apps you don’t use:

    • Go to the App Library and tap the search field to open the list.
    • Touch and hold the app icon, then tap Delete App.
    • Tap Delete again to confirm.

    To keep an app downloaded, but remove it from your home screen:

    • Touch and hold the app.
    • Tap Remove App.
    • Tap Remove from home screen.

    You’ll notice that when you swipe on your home screen from right to left, there are multiple pages that house your apps.

    To remove an entire page from your home screen:

    • Touch and hold an empty area on your home screen.
    • Tap the dots near the bottom of your screen.
    • Tap the circle under the page that you want to hide.
    • Tap the Remove button, then tap Remove. 

    To hide an entire page, but not delete it:

    • Touch and hold an empty area on your home screen.
    • Tap the dots near the bottom of your screen.
    • Tap the circle under the page that you want to hide.
    • Tap Done. 

    To unhide a page, repeat the steps above. Then use the App Library to quickly find apps hidden on different pages.

    How to turn off 5G to save battery life

    The iPhone 12, by default, will save battery by switching between 5G and 4G LTE as needed.

    Todd Haselton | CNBC

    5G cell service works with all carriers and iPhone models 12, 13, 14 and SE 3. On the iPhone, Apple uses a 5G Auto Setting as a default. This enables Smart Data mode. When 5G speeds don’t provide a better experience, your phone will automatically switch to LTE, saving battery life.

    If your phone is not on 5G Auto and instead on 5G On, you could be draining your battery. That’s because no matter what connection is best, your iPhone is always trying to connect to 5G.

    To optimize your battery life, here’s how to turn off 5G:

    • Go to Settings.
    • Tap Cellular.
    • Tap Cellular Data Options.
    • Tap Voice & Data.
    • To turn off 5G, tap LTE for better battery life.

    Or let your iPhone decide for you to optimize battery:

    • Go to Settings.
    • Tap Cellular.
    • Tap Cellular Data Options.
    • Tap Data Mode.
    • Tap Low Data Mode when you want to conserve your battery life.

    How to charge your iPhone faster and conserve battery

    Apple’s 18W fast charger for iPhone 11.

    If you’re upgrading from a much older model iPhone, don’t use your old charger. As long as you have an iPhone 8 or newer, you can charge your phone by 50% in 30 minutes using a 20-watt power adapter with a USB-C to lightning cable charger. But there are some other battery tricks you should know about.

    Turn on Low Power Mode to conserve battery:

    • Open Settings.
    • Tap Battery.
    • Toggle Low Power Mode on.

    You’ll see under this option an explanation from Apple that says: “Low Power Mode temporarily reduces background activity like downloads and mail fetch until you can fully charge your iPhone.”

    Turn down your screen brightness to conserve battery:

    If your screen is on maximum brightness, it’s draining your iPhone’s battery. To turn it down:

    • Swipe down from the upper left corner of your iPhone.
    • There’s a rectangle icon where you’ll see an image of a sun. Swipe down on the icon until the screen’s brightness is reduced.

    Check your iPhone’s battery health:

    Apple has a tool that’s automatically built into your iPhone to help prevent your battery from losing efficacy. This feature also makes your iPhone charge slower based on your routines. Here’s how to turn it off:

    • Open Settings.
    • Tap Battery.
    • Tap Battery Health & Charging
    • Toggle off Optimized Battery Charging.

    How to use Focus so you don’t get notifications all day

    Apple’s new Focus feature in iOS 15

    Todd Haselton | CNBC

    As long as you have iOS 15 or newer, you can set up a feature called Focus which allows you to choose the alerts and notifications you receive and let others know you’re busy. This can help you avoid getting distracted by all of your phone’s notifications while you’re trying to work, sleep or drive.

    • Open Settings.
    • Tap Focus.
    • Tap options such as Do Not Disturb, Personal, Sleep or Work.
    • Tap Customize.
    • Select allowed or silenced notifications from people and apps. This way if your child, or boss, is calling, you’ll still get notified.
    • You can also enable Time Sensitive notifications from apps, which allows apps not in your allowed list to send notifications marked as Time Sensitive.
    • You can swipe down from the top-right of your home screen to turn on Focus.

    When you’re on Focus, your status will automatically be displayed in your Messages app so when people try to send you a message, they’ll see that you’ve silenced your notifications, but they can still choose to notify you if it’s urgent.

    Also, if you have an iPad or Apple Watch, or any other Apple device set up, Focus will automatically be applied across all your Apple devices that are signed in with the same Apple ID.

    How to customize your lock screen

    Apple iPhone lock screen

    Source: Apple

    There are some new cool lock screens on the iPhone 14.

    To change up your lock screen:

    • Touch and hold the lock screen until the Customize button appears at the bottom of your screen.
    • Tap Customize.
    • Tap Add Widgets to add views of your favorite apps, such as upcoming calendar events, your Apple Watch battery life, the weather, the news, a countdown, or your upcoming alarms.

    Use Dynamic Island on the iPhone 14 Pro

    Apple’s new Dynamic Island feature on the iPhone 14 Pro Max.

    Sofia Pitt

    Dynamic Island is the coolest feature Apple introduced this year. Instead of that blank notch that used to house the selfie camera and microphone, there’s a new interactive pill display that has the ability to shape-shift on the iPhone 14 Pro and iPhone 14 Pro Max.

    Let’s say you’re reading an article. You can also control the music you’re listening to by tapping Dynamic Island instead of switching applications. It’s useful.

    The space can be used to show other things, such as directions, AirPod connection status and battery life, or a timer. It can even split into two separate cutouts, so you can see a timer on one side and track the arrival time of your Lyft simultaneously, for example.

    How to turn off the always-on display on iPhone 14 Pro

    Always-on display toggled off on the iPhone 14 Pro Max.

    Sofia Pitt

    The iPhone 14 Pro and Pro Max have a feature called an always-on display, which Android phones have had for years. The advantage is that you can see your widgets, such as the date and the weather, as well as the time, in a low-light mode when your phone is locked. The feature isn’t supposed to be a drain on your battery.

    But, if you’re like me and want more peace and quiet without the urge to look over at your phone, here’s how to turn off the always-on display.

    • Open Settings.
    • Tap Display & Brightness.
    • Scroll down to Always On and toggle it off to deactivate the feature.

    [ad_2]

    Source link

  • This company has wiped out more investor wealth in 2022 than Tesla

    This company has wiped out more investor wealth in 2022 than Tesla

    [ad_1]

    Elon Musk has been trying this week to defend Tesla’s abysmal stock performance in 2022. The electric vehicle giant has seen its stock plummet by 61% this year, making it the 11th-worst performing stock in the S&P 500 in 2022.

    “As bank savings account interest rates, which are guaranteed, start to approach stock market returns, which are *not* guaranteed, people will increasingly move their money out of stocks into cash, thus causing stocks to drop,” Musk tweeted.

    You might expect that Tesla’s stock drop has wiped out more investor wealth than any other stock in the world this year. But you would be wrong.

    If we look at declines in market capitalization — the value of companies’ common-shares outstanding — Tesla
    TSLA,
    -1.76%

    has been the fourth worst-performing stock in the benchmark S&P 500 this year, as of 1 p.m. ET on Dec. 21:

    Company

    Ticker

    2022 market cap change ($bil)

    Intraday market cap on Dec. 21 ($bil)

    Dec. 31, 2021 market cap ($bil)

    2022 price change

    Amazon.com Inc.

    AMZN,
    +1.74%
    -$805

    $886

    $1,691

    -48%

    Apple Inc.

    AAPL,
    -0.28%
    -$753

    $2,160

    $2,913

    -24%

    Microsoft Corp.

    MSFT,
    +0.23%
    -$700

    $1,825

    $2,525

    -27%

    Tesla Inc.

    TSLA,
    -1.76%
    -$622

    $439

    $1,061

    -61%

    Meta Platforms Inc. Class A

    META,
    +0.79%
    -$466

    $318

    $784

    -64%

    Nvidia Corp.

    NVDA,
    -0.87%
    -$329

    $406

    $735

    -44%

    PayPal Holdings Inc.

    PYPL,
    +0.67%
    -$143

    $79

    $222

    -63%

    Netflix Inc.

    NFLX,
    -0.94%
    -$134

    $133

    $267

    -51%

    Walt Disney Co.

    DIS,
    +1.55%
    -$122

    $160

    $282

    -44%

    Salesforce Inc.

    CRM,
    +0.19%
    -$119

    $131

    $250

    -49%

    Source: FactSet

    On a percentage basis, all these stocks have performed worse than the full S&P 500, which has fallen 19%, excluding dividends.

    Amazon.com Inc.
    AMZN,
    +1.74%

    has erased more shareholder wealth than any other publicly traded company in 2022. In total, investors in Amazon have lost $804.6 billion this year. The stock is down 48% in 2022.

    Apple Inc.
    AAPL,
    -0.28%

    and Microsoft Corp.
    MSFT,
    +0.23%

    have also suffered larger market-cap declines than Tesla, by virtue of their sheer size.

    The companies have different fiscal and annual period ends, but if we look at data for the past three reported quarters and compare to the same period a year earlier, here’s how the four stack up:

    Company

    Ticker

    Change in sales for three quarters from year-earlier period

    Change in EPS for three quarters from year-earlier period

    Amazon.com Inc.

    AMZN,
    +1.74%

     

    10%

    N/A

    Apple Inc.

     
    AAPL,
    -0.28%
    6%

    2%

    Microsoft Corp.

     
    MSFT,
    +0.23%
    14%

    -2%

    Tesla Inc.

     
    TSLA,
    -1.76%
    58%

    169%

    Source: FactSet

    Amazon showed a net loss of $3 billion for the first three quarters of 2022 as the company neared the end of its extraordinary multiyear effort to build out its warehouse and fulfillment infrastructure. For the first three quarters of 2021, the company booked $19 billion in profits. When announcing Amazon’s third-quarter results CEO Andy Jassy said the company was working methodically toward “a stronger cost structure for the business moving forward.”

    The incredible growth of Amazon’s cloud business has stalled and disappointed the expectations the company had nurtured on Wall Street. The Amazon Web Services business is facing increasing competition from the likes of Microsoft and its customers are pulling back. Meanwhile, retail sales have also come in weak going into the Christmas and holiday season. 

    Amazon’s stock has declined 22% since it closed at $110.96 on Oct. 27, right before it disappointed investors not only with its third-quarter results, but with its outlook: It expects to break even during the holiday quarter. Analysts polled by FactSet had previously expected a profit of more than $5 billion.

    Tesla stands in contrast to Amazon, as you can see on the table above. Its sales grew by 58% during the first three quarters of 2022 from the year-earlier period and its earnings per share rose nearly threefold.

    This has been a year of significant declines for shares of giant tech-oriented companies, especially those that had traded at lofty price-to-earnings valuations — that group includes Amazon and Tesla. In fact, these companies have given up all their pandemic era gains int he stock market.

    But with Tesla’s results so outstanding through the first three quarters of 2022, it raises the question: How much of the drop in the electric car makers share price was tied to Musk’s actions as CEO of Twitter, which he acquired on Oct. 27 after a monthslong saga? And how much of a relief rally, if any, might there be for Tesla if Musk, as expected, steps down as Twitter CEO?

    How about some bottom-feeding?

    Here’s the same list of 10 stocks in the S&P 500 that have seen the largest declines in market cap this year, with a summary of analysts’ ratings, consensus price targets and declines in their forward price-to-earnings ratios:

    Company

    Ticker

    Share “buy” ratings

    Dec. 21 closing price

    Cons. price target

    Implied 12-month upside potential

    Forward P/E as of Dec. 20

    Forward P/E as of Dec. 31, 2021

    Amazon.com Inc.

    AMZN,
    +1.74%
    91%

    $85.19

    $134.85

    58%

    49.3

    64.9

    Apple Inc.

    AAPL,
    -0.28%
    74%

    $132.30

    $173.44

    31%

    21.4

    30.2

    Microsoft Corp.

    MSFT,
    +0.23%
    91%

    $241.80

    $293.06

    21%

    23.7

    34.0

    Tesla Inc.

    TSLA,
    -1.76%
    63%

    $137.80

    $272.64

    98%

    24.6

    120.3

    Meta Platforms Inc. Class A

    META,
    +0.79%
    63%

    $117.09

    $145.45

    24%

    14.5

    23.5

    Nvidia Corp.

    NVDA,
    -0.87%
    68%

    $160.85

    $195.72

    22%

    39.2

    58.0

    PayPal Holdings Inc.

    PYPL,
    +0.67%
    71%

    $68.76

    $104.32

    52%

    14.5

    36.0

    Netflix Inc.

    NFLX,
    -0.94%
    47%

    $288.19

    $302.89

    5%

    28.4

    45.6

    Walt Disney Co.

    DIS,
    +1.55%
    82%

    $87.02

    $119.60

    37%

    19.8

    34.2

    Salesforce Inc.

    CRM,
    +0.19%
    78%

    $128.45

    $195.18

    52%

    23.4

    53.5

    Source: FactSet

    A majority of analysts see a golden path ahead for 2023 for all of these stocks except for Netflix.

    For more information about any of these companies, click the tickers.

    Click here for a detailed guide to the wealth of information available for free on the MarketWatch quote page.

    Don’t miss: 11 high-yield dividend stocks that are Wall Street’s favorites for 2023

    [ad_2]

    Source link

  • No directive: FBI agents, tech executives deny government ordered Twitter to suppress Hunter Biden story | CNN Politics

    No directive: FBI agents, tech executives deny government ordered Twitter to suppress Hunter Biden story | CNN Politics

    [ad_1]



    CNN
     — 

    Internal Twitter communications released by the company’s new owner and CEO, Elon Musk, are fueling intense scrutiny of the FBI’s efforts alongside social media companies to thwart foreign disinformation in the run-up to the 2020 election.

    At the heart of the controversy is Twitter’s decision in October 2020 to block users from sharing a New York Post story containing material from a laptop belonging to Hunter Biden. Conservative critics have accused Twitter of suppressing the story at the behest of the FBI, something they claim the released communications, dubbed the “Twitter Files,” demonstrate.

    Musk himself has alleged the communications show government censorship, suggesting Twitter acted “under orders from the government” when it suppressed the Hunter Biden laptop story.

    But so far, none of the released messages explicitly show the FBI telling Twitter to suppress the story. In fact, the opposite view emerges from sworn testimony by an FBI agent at the center of the controversy. And in interviews with CNN, half a dozen tech executives and senior staff, along with multiple federal officials familiar with the matter, all deny any such directive was given.

    “We would never go to a company to say you need to squelch this story,” said one former FBI official who helped oversee the government’s cooperation with companies including Twitter, Google and Facebook.

    Musk and his conservative allies have insinuated the released messages provide evidence of illicit behavior by the FBI, suggesting the exchange of secret files pertaining to Hunter Biden, and improper payments made to Twitter. But CNN’s interviews with people directly involved with the interactions and with those who have reviewed the documents disprove those claims.

    Matt Taibbi, one of the journalists Musk tapped this month to comb through Twitter internal messages for evidence of free speech violations, said himself on December 2 that “there is no evidence – that I’ve seen – of any government involvement in the laptop story.”

    What is clear, however, is that following Russia’s meddling campaign in 2016, plus after years of interactions with federal agents about how to spot foreign disinformation efforts, Twitter executives were hyper suspicious of anything that looked like foreign influence and were primed to act, even without direction from the government.

    By the time the New York Post published its laptop story on October 14, 2020, Yoel Roth, Twitter’s then head of site integrity, had spent two years meeting with the FBI and other government officials. He was prepared for some kind of hack and leak operation.

    “There were lots of reasons why the entire industry was on alert,” Roth said at a conference in November, not long after he resigned from Twitter. Roth insists he was not in favor of blocking the story and thought the company’s decision was a mistake.

    As the released communications show, Twitter initially acted to suppress the story for a few days in part out of concerns that Hunter Biden, the son of the then-Democratic presidential candidate, was being targeted as part of a foreign election interference operation similar to the one Russia carried out in 2016.

    What Twitter did not know at the time was that Hunter Biden was the subject of a federal criminal investigation. Since as early as 2018, the Justice Department has been investigating Hunter Biden for his business activities in foreign countries. In late 2019, nearly a year before the story first emerged in the New York Post, the FBI had used a subpoena to obtain a laptop that Biden allegedly left behind at a Delaware computer repair store.

    According to sources at the FBI and at Twitter who spoke to CNN, none of that information was disclosed to Twitter executives trying to decide how to treat the laptop story, nor to anyone else for that matter.

    “It was an ongoing investigation, so I would never approve of talking about it,” said the former FBI official.

    While the released Twitter messages have yet to reveal a smoking gun showing the government ordered a social media company to suppress a story, Republicans on Capitol Hill say there are enough questions raised by the internal communications to merit calling tech executives to testify.

    Scrutiny is building around the role of Twitter’s recently-fired deputy general counsel James Baker, a former top FBI official who joined Twitter in the summer of 2020. The released documents show Baker was in regular contact with his former colleagues at the FBI, giving rise to rampant accusations from conservatives that he was the conduit for the government to pressure Twitter.

    In some of the material released by Twitter, an email shows Baker setting up a meeting – in the midst of Twitter’s internal deliberations about how to handle the New York Post story – with Matthew Perry, an attorney in the FBI’s Office of General Counsel. It is not clear what the two discussed.

    The FBI declined to discuss any communications Baker had with FBI officials once he arrived at Twitter.

    Baker is among a number of former Twitter executives called to testify this month by Republican Rep. James Comer, the incoming chair of the House Oversight Committee. Baker declined to comment for this story.

    Rep. James Comer (R-KY) attends a House Oversight Committee hearing on July 27, 2022

    Comer also wants to hear from several former US intelligence officials who, days after the laptop story broke, wrote an open letter saying it had “all the classic earmarks of a Russian information operation.” The group of former officials who signed the letter included former Director of National Intelligence James Clapper, who, as a CNN contributor, appeared on the network to express his view.

    Though the former officials admitted, “we do not have evidence of Russian involvement,” their letter set the tone for much of the early discussion and coverage of the laptop.

    In a statement to CNN, the FBI said, “The correspondence between the FBI and Twitter show nothing more than examples of our traditional, longstanding and ongoing federal government and private sector engagements, which involve numerous companies over multiple sectors and industries. As evidenced in the correspondence, the FBI provides critical information to the private sector in an effort to allow them to protect themselves and their customers.

    “The men and women of the FBI work every day to protect the American public. It is unfortunate that conspiracy theorists and others are feeding the American public misinformation with the sole purpose of attempting to discredit the agency.”

    Among the messages given the most attention from Musk and other critics are a series of emails between Roth and Elvis Chan, an FBI special agent based in San Francisco, where he focuses on cybersecurity and foreign influence on social media. On October 13, the day before New York Post story published, Chan instructed Roth to download ten documents on a secure portal.

    Roth responded, “received and downloaded – thanks!”

    Michael Shellenberger, who is among those Musk has entrusted with access to the internal messages, wrote about the Chan communication with Roth. Shellenberger does not describe the contents of the files, but he does insinuate that the timing of the message suggests Chan was secretly providing Roth information about the Hunter laptop.

    At the FBI’s headquarters in Washington, a team reviewing the internal communications released by Musk says it has identified the 10 documents Chan sent to Roth. “I reviewed all 10 of these documents personally and I can say explicitly there is nothing in these 10 documents about Hunter Biden’s laptop or about any related story to that,” an FBI official involved in the review told CNN.

    The official said eight of the documents pertained to “malign foreign influence actors and activities,” the FBI’s terminology for foreign government election meddling. The official said the other two documents were posts on Twitter the FBI flagged as potential evidence of election-related crimes, such as voter suppression activities.

    Another interaction that has drawn suspicion is an internal message from early 2021 that Shellenberger cites showing that the FBI paid Twitter $3.4 million beginning October 2019. In the message, an unnamed associate emails Baker saying, “I am happy to report we have collected $3,415,323 since October 2019!”

    The FBI says the bureau is obligated under federal law to reimburse companies for the cost they incur to satisfy subpoenas and other legal requests as part of the FBI’s investigative work.

    The FBI describes its discussions with Twitter as the type of information-sharing that Congress and both the Trump and Biden administrations encouraged to help tech companies and social media platforms protect themselves and their users. The released messages appear to show that FBI officials repeatedly noted that it was up to the content moderators at the company to take action if a post violated their rules.

    “All the information exchanged is about the actors and their activity,” a second FBI official who reviewed the communications told CNN. “What we are not providing is specifics about the content and the narrative. We are also not directing the platforms to do anything. We are just providing it for them to do as they see fit under their own terms of service to protect their platforms and customers.”

    After the 2016 election, social media executives knew they had a problem. Russian operatives had used their platforms to run a massive covert influence campaign to help elect Donald Trump, using bots to spread disinformation and sow division among Americans.

    To prepare for the next election, the executives set about bolstering their internal controls, including hiring former law enforcement and intelligence officials. But they also knew they had to forge a closer relationship with the US government to help root out foreign trolls and sources of disinformation.

    President Donald Trump chats with Russia's President Vladimir Putin at a summit in 2017.

    What followed were a series of regular meetings with federal agents that began in May 2018.

    The released communications as well as interviews with people involved in the meetings portray routine, friendly and sometimes tense contacts between company executives and the government officials with whom they regularly interacted. Among the released communications are lively exchanges between Twitter and the FBI, revealing some of the sensitivities — and tensions — at play as the government and Silicon Valley slowly figured out how to work together.

    One former FBI official who spoke to CNN recalls that tech executives would insist on meetings away from their campuses, in part because government agents weren’t welcome. Feelings in Silicon Valley toward the intelligence community were still raw since the Edward Snowden leaks detailed a vast data collection apparatus that targeted the tech companies.

    “Early on, who hosted the meeting was also a political football,” said a person familiar with the meetings between the government and Silicon Valley. “Each company wanted someone else to. There were worries about employees seeing a bunch of feds and leaking it in an inaccurate way.”

    One tech source, however, dismissed this and said companies offered their offices for the meetings out of a shared sense of responsibility.

    Nevertheless, the meetings went ahead. The first one took place at Facebook’s headquarters in Menlo Park. Later meetings were held at Twitter and LinkedIn’s offices, a person familiar with the meetings told CNN.

    Some of the early interactions were terse. Reports published by CNN and other news organizations described complaints from some tech executives that the FBI was sharing only limited information, useless to help the companies protect their platforms.

    A telling moment came early on when a government lawyer lectured tech executives about the limits on what the government can do to help, multiple people who attended the meeting told CNN. One Silicon Valley executive described how the lawyer gave a 20-minute speech about the First Amendment and insisted that “government representatives can’t tell the companies to take any content down.”

    Former Twitter employees and FBI officials involved say that by 2020, their discussions had become better coordinated and useful to both sides. One indicator of how advantageous the relationship had become: By 2020, Facebook was issuing press releases about some of the discussions.

    Musk and other critics of the interactions point to released messages that they claim show a cozy relationship between the government and Twitter. But the messages also show Roth, Twitter’s then head of site integrity, repeatedly pushing back against asks from the FBI.

    At various points, the Twitter communications show Roth resisting pressure to reveal certain information about users absent a formal legal request, such as which third-party VPN services were used by some account-holders to access Twitter.

    Yoel Roth

    Roth also shut down a request that the company share more of its data with intelligence officials.

    Others within Twitter noted the US government’s interest in Twitter’s data and urged colleagues to “stay connected and keep a solid front against these efforts.”

    Conservative critics continue to blame Roth for Twitter’s suppression of the laptop story, but he insists he didn’t make the final call and says he thought it was a mistake. “It is widely reported that I personally directed the suppression of the Hunter Biden laptop story,” Roth said last month. “It is absolutely, unequivocally untrue.”

    Exactly who in Twitter’s leadership ultimately made the call to block the story remains unclear.

    In December 2020, Roth gave a sworn declaration to the Federal Election Commission saying the government had warned of expected hack-and-leak incidents targeting people associated with political campaigns. Roth said that he learned in the meetings with government agencies there were “rumors that a hack-and-leak operation would involve Hunter Biden.”

    Roth did not point to the government as the source of the rumor, but his claim that law enforcement agencies gave general warnings about disinformation campaigns dovetails with recent testimony from Chan, the FBI agent who played a key role in the meetings.

    Chan was deposed this year as part of a lawsuit brought by the Missouri attorney general alleging government censorship of social media. Chan disputed that the government told social media companies to “expect” hack-and-leak campaigns, saying that it would have only warned companies it was a possibility.

    That Hunter Biden might be the target of a hack-and-leak operation was being publicly discussed at the time, after it emerged that Burisma Holdings, a company he worked with in Ukraine had reportedly been hacked by Russian military intelligence early in 2020.

    Chan also testified that government agents never raised Hunter Biden specifically, and that his name came up only when a Facebook analyst asked specifically for relevant information. An FBI agent in the meeting declined to answer, Chan recalled, adding that she was likely not authorized to address the question because at the time the FBI had not publicly confirmed its Hunter Biden investigation.

    [ad_2]

    Source link

  • Nvidia, AMD, and Lam Research Slide After Micron Disappoints

    Nvidia, AMD, and Lam Research Slide After Micron Disappoints

    [ad_1]

    Nvidia, AMD, and Lam Research Slide After Micron Disappoints

    [ad_2]

    Source link

  • Best portable chargers in 2022 | CNN Underscored

    Best portable chargers in 2022 | CNN Underscored

    [ad_1]



    CNN
     — 

    Even when working from home, a power supply can be hard to come by, what with your computer, monitor, WiFi hub and other gadgets and gizmos and their wall chargers hogging those sparse outlets. And when you’re on the go, a solid power source is especially a necessity. The solution: a portable charger to keep your phone, tablet and more juiced to the max.

    So to help identify the best options for avoiding that dreaded “low battery” notification, we spent several weeks testing portable chargers — draining devices, charging them up and calculating capacities. Ultimately, we found three winners that each stole the show in their own way.

    Best portable charger overall

    Where the Anker PowerCore 13000 shone most was in charging capacity. It boasts 13,000mAh, which is enough to fully charge an iPhone 11 two and a half times. Plus, it has two fast-charging USB Type-A ports so you can juice a pair of devices simultaneously.

    The most portable

    The ultraportable Belkin Power Pocket 5K is almost the exact same size as an iPhone SE, but weighs even less. And, proving the old adage “big things come in small packages” correct, it packs enough power to fully charge an iPhone 11 from its singular USB Type-A port.

    Best portable charger for iPhone

    The Belkin Boost Power Pocket 5K goes hand-in-hand with iPhones thanks to the inclusion of a Lightning port along with the USB Type A port. That means you can use the same cord to charge your phone and refill the battery.

    underscored anker powercore 13000

    Benjamin Levin/CNN

    Simply put, the Anker PowerCore 13000 packs a ton of value.

    You can charge a lot with this thing — and quickly. The PowerCore 13000 has enough capacity to bring an iPhone 11 to full charge two and a half times, or two Samsung Galaxy S20s from empty to more than 90%. And you won’t be sitting by idly for too long, either, as the PowerCore 13000 takes just 41 minutes to charge an iPhone 11 to 50%, tied for fastest charging in our testing.

    While the PowerCore 13000 doesn’t fully live up to its promise of 13,000mAh (we found it delivers 7918mAh), it hit a respectable 61% of what’s advertised — a percentage that put it about average among all the batteries we tested. In other words: None of the portable chargers we tested fully lived up to their claims, and the PowerCore 13000 still has more charging capacity than most others we tested. (You can read more about how we measured mAhs by scrolling down.) Plus, it’s just a few more bucks than the Belkin Pocket Power 5K for more than double the mAhs.

    The side of the battery houses three ports: dual USB Type-A ports (which are fast-charging) and a micro-USB port to charge the battery itself — allowing you to run several USB-C cables to different devices all at once. When we charged an iPhone 11 and a Nintendo Switch simultaneously, the battery barely heated up. Four LED lights alert you to the charger’s remaining battery life, with a button on the edge to turn the lights on.

    The charger’s matte plastic design feels nice to the touch and resists smudging surprisingly well. It’s about the size of a full wallet, so it’s easy to carry around. And it’s durable: The charger survived our drop tests, which included a 3-foot drop onto grass and a 1.5-foot drop onto carpet, with neither external nor internal damage. (You can read more about our durability testing below.)

    Overall, not only does the Anker PowerCore 13000 pack major mAhs, but it’s got two ports for your USB cables and is fairly small and durable.

    underscored belkin pocket 5k

    Benjamin Levin/CNN

    When we first encountered the Belkin Power Pocket 5K, it was hard to believe its size: just 5 inches long, 2.5 inches wide and a half-inch thick. There are few places this battery won’t fit, yet many devices it’ll charge.

    It was the smallest and the lightest charger we tested; you might even mistake it for the phone in your pocket. This portable charger is really the definition of a personal power bank, easily whipped out of a pocket and held alongside your mobile device.

    The charging capacity of the Power Pocket 5k is modest, but it did come closest to living up to its claimed output out of all the models we tested. While its maximum capacity is stated to be 5,000mAh, we measured it at about 3,655mAh. That’s 73% of the expected value, which is 12% better than average in our testing. While its capacity isn’t huge, it’s more than enough to bring an iPhone 11 or Samsung Galaxy S10 battery back to full life. The only significant downside we could find was the charging speed: It takes a little more than 51 minutes to charge an iPhone 11 to 50%.

    The Anker PowerCore 13000 features four battery-indicating LEDs on its side alongside a button to turn them on. Around the corner are the ports: a single USB-C input along with a micro-USB port to charge the battery with the included charging cable. Like the PowerCore 13000, the Pocket Power 5K received no superficial or internal damage during our drop testing. And you can rest assured that even if you do break it, it comes with a two-year warranty along with a generous $2,500 connected equipment warranty (which covers unlikely electrical damage to tech that was properly plugged into the Pocket Power 5K).

    The wee-as-can-be Belkin Pocket Power 5K is impressive for its size. Although the capacity isn’t huge, it’s more than enough to fulfill the needs of most personal devices and small enough to keep in your pocket everywhere you go — and a bit lighter on the wallet for those on a budget.

    underscored belkin pocket boost 5k

    Benjamin Levin/CNN

    The Belkin Boost Charge Power Pocket 5K offers a bit less capacity than the Belkin Power Pocket 5K, but it’s a match made in heaven for iPhones — and it charges faster, too.

    Along one side of the Belkin Boost Charge resides a USB Type-A port and a Lightning port (MFi-approved) to charge the battery. This is the big deal here — that’s the very same kind of port that your iPhone and iPad has. In other words, as long as you have a Lightning cable to charge your iPhone (we’re going to assume you do), you have a cable to recharge your battery, too. Consolidating cables is a big win in our book. This charger also pairs better alongside a smartphone because it’s lighter than the Anker 13000 and sports more of a rectangular shape, so it fits a bit more snug in the hand.

    The Boost Power Pocket 5K has more than enough juice to fully charge an iPhone 11. It also took a little more than 45 minutes to charge an iPhone 11 to 50%, which is faster than the Belkin Pocket Power 5K by six minutes. The capacity of the BOOST Power Pocket 5K is advertised as 5,000mAh and, during our testing, we measured about 3,415mAh. That’s nearly 70% of the advertised value, making it one of the top three batteries we tested in terms of living up to its promise (the average was about 61%).

    All in all, the Belkin Boost Charge Power Pocket 5K is a terrific personal charger for your iPhone. With both MFi certification and cable consolidation thanks to the Lightning port, it should really stand out to iPhone users.

    We ran each and every portable charger through a series of tests. We charged each battery to full, ran it dry juicing up one or several devices, calculated its capacity and compared charging speeds. At the same time, we took a look at properties like weight, size, build quality and visual design. Whether it was a chunky battery that could charge all our tech, or a slim, sleek battery with enough to fill an iPhone, we put these things through the ringer.

    Read on to see the breakdowns of all our testing categories.

    • Battery Size: We noted how many milliamp Hours (mAh) each battery promised.
    • Meets Estimation: This is where we measured how much each battery could actually provide in mAhs. To do so, we charged a variety of devices with each battery, recording how much battery life (aka what percentage) each device gained. When a device was at about 95%, but the battery was not empty, we immediately swapped it for a different device. Once a battery was empty, we calculated how many mAhs it provided in total across all the devices it charged and then divided the promised total by the recorded value. This allowed us to figure out what percentage of its promised total each battery provided. We used a 0.3M Nomad Universal Cable, plugged into a battery’s USB-A port (fast charging if available), to charge each device. The device pool we chose from for charging was: iPhone 11, iPhone 8, Fire HD 10 tablet, Nintendo Switch and Bose QuietComfort 35 II.
    • Design and materials: We researched what materials each battery was made of, as well as how many color options are available. We also felt out the quality of each battery’s build. Visually, we checked out how each device looked alongside a variety of tech, noting if it appeared too big or small beside it, as well as if you could hold a battery and a phone in the same hand or pocket. The device pool we chose from for this was: iPhone 11, Fire HD 10 tablet and Nintendo Switch.
    • Size and weight: We checked each battery’s dimensions, volume and weight. In our scoring, we favored smaller, lighter devices.
    • Dust resistance: We checked whether the product is rated to resist dust, and to what extent it does so. This test was incorporated into our drop test below. After dropping a device onto grass, we checked how much dust and dirt it picked up. We also look into whether these particles could be dislodged from the ports via shaking the device or using compressed air.
    • Drop Test: We performed two drop tests: 3 feet onto grass and 1.5 feet onto carpet. The former was to simulate a likely drop scenario outdoors, and the latter indoors. After each test, we examined the battery for superficial damage and checked whether it still functioned.
    • Number of ports: We counted the number of ports on each device that could output power. We noted each port type, which could be one of the following: USB Type-A, USB Type-C, micro USB or Lightning. We also noted how many, if any, USB Type-A ports supported fast charging.
    • Wireless charging: We noted whether a device supported wireless charging.
    • Speed of charge: We charged an iPhone 11 from about 5% until it received 50% battery, recording how long the process took.
    • Warranty: We researched the duration of each device’s warranty.

    The Otterbox Otterspot is unlike any portable charger we’ve seen before. The system works as follows: A disk-shaped charging pad can charge mobile devices wirelessly, as well as the included disk-shaped battery via charging pins. The battery, which can be stacked up to three on the pad, can charge devices wirelessly or with a cable and then be recharged upon the pad. Wirelessly, it only delivered 2,519mAh to an iPhone 11. With a wired connection, it provided 3,134mAh. This is significantly less than, say, the 3,655mAh from the Belkin Pocket Power 5K with the same 5,000mAh promise. Overall, the Otterbox Otterspot is an awesome concept that may need some work on the capacity end.

    TheAnker PowerCore III Sense 10K is a beautiful charger. It comes in multiple vibrant colors and features a woven yarn surface on top and matte plastic below. Unfortunately, it only provided 4,189mAh of its expected 10,000mAh capacity. This is 42% of the expected value, compared with the 61% the Anker PowerCore 13,000 was able to achieve. Despite its aesthetic beauty and quality build, this battery dropped the ball on capacity.

    The Anker PowerCore II 20000 is the same price as the Anker PowerCore III Sense 10K, but provides 12,300mAh of its promised 20,000mAh. This is a more respectable 61.5% of what’s expected. The battery is pretty hefty and large, but it feels very durable and has a unique texture that eliminates most smudging. Compared to its 20,000mAh counterpart, the Elecjet PowerPie Power Bank, it weighs way less and provides more mAhs.

    The Aukey 8,000mAh Power Bank was a favorite among those we tested. It’s quite slim, and a little lighter than the Anker PowerCore 13000. Out of the 8,000mAh expectation, it delivered 5509mAhs, which is almost 70%. That’s impressive, made better by three functional output ports and wireless charging (a feature that didn’t end up working on our unit). But despite this battery’s promising properties, it fell short of the PowerCore 13000’s capacity at a higher price, and it didn’t charge an iPhone 11 nearly as fast.

    The Elecjet PowerPie Power Bank lists the same 20,000mAh capacity as the Anker PowerCore II 20000, except it reached just 11,969mAh, or about 60% of what we expected. It also weighs more and has a less sleek design, which didn’t help it score-wise. Overall, it’s got a lot of juice to provide, but it didn’t find a place among the winners.

    [ad_2]

    Source link