General Electric surges on Q3 earnings beat, 2023 profit forecast boost
Updated at 8:00 am EDT General Electric (GE) - Get Free Report posted better-than-expected third quarter earnings Tuesday, while boosting its full-year profit and free cash flow forecasts, as the industrial group's core aviation division continues to power both its top and bottom lines. General Electric said adjusted non-GAAP earnings for the three months ending in September were pegged at 82 cents per share, up 9.3% from last year and well ahead of the Street consensus forecast of 56 cents per share. Group adjusted revenues, General Electric said, rose 18% from last year to $16.3 billion, also topped analysts' estimates of a $15.7 billion tally. Looking into the final months of the year, GE said it now sees adjusted earnings in the region of $2.55 to $2.65 per share, a 35 cents improvement from the higher end of its prior forecast, with organic sales growth in the 'low teens' range in terms of percentage gain. GE also lifted its key free-cash flow estimate to a range of between $4.7 billion to $5.1 billion up from its prior forecast of between $4.1 billion to $4.6 billion. Operating profits for GE Aerospace, its core division, were forecast in the range of $6 billion, up from its prior forecast of between $5.6 billion to $5.9 billion. GE Vernova will likely report a loss of between $300 million and $100 million, with GE adding the energy business division will likely list as a separate entity by the end of the second quarter of next year. "GE delivered another quarter of very strong results with double-digit growth in revenue, profit, and cash," said CEO Larry Culp. "At GE Aerospace, we continue to experience rapid growth driven by robust demand and solid execution, largely in Commercial Engines and Services. At GE Vernova, our Grid and now Onshore Wind businesses were both profitable this quarter and we expect their performance to continue to improve. With our two largest Renewable Energy businesses delivering and Power's continued strength, we remain highly confident in GE Vernova's spin-off next year." C "Based on our year-to-date results and continued momentum in the fourth quarter, GE is raising full-year 2023 guidance," he added. "We're well-positioned to launch GE Aerospace and GE Vernova as independent companies in the beginning of the second quarter. I'm more excited than ever about our path ahead." General Electric shares were marked 5.26% higher in pre-market trading immediately following the earnings release to indicate an opening bell price of $112.30 each, a move that would extend the stock's six-month gain to around 12%.Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
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Updated at 8:00 am EDT General Electric (GE) - Get Free Report posted better-than-expected third quarter earnings Tuesday, while boosting its full-year profit and free cash flow forecasts, as the industrial group's core aviation division continues to power both its top and bottom lines. General Electric said adjusted non-GAAP earnings for the three months ending in September were pegged at 82 cents per share, up 9.3% from last year and well ahead of the Street consensus forecast of 56 cents per share. Group adjusted revenues, General Electric said, rose 18% from last year to $16.3 billion, also topped analysts' estimates of a $15.7 billion tally. Looking into the final months of the year, GE said it now sees adjusted earnings in the region of $2.55 to $2.65 per share, a 35 cents improvement from the higher end of its prior forecast, with organic sales growth in the 'low teens' range in terms of percentage gain. GE also lifted its key free-cash flow estimate to a range of between $4.7 billion to $5.1 billion up from its prior forecast of between $4.1 billion to $4.6 billion. Operating profits for GE Aerospace, its core division, were forecast in the range of $6 billion, up from its prior forecast of between $5.6 billion to $5.9 billion. GE Vernova will likely report a loss of between $300 million and $100 million, with GE adding the energy business division will likely list as a separate entity by the end of the second quarter of next year. "GE delivered another quarter of very strong results with double-digit growth in revenue, profit, and cash," said CEO Larry Culp. "At GE Aerospace, we continue to experience rapid growth driven by robust demand and solid execution, largely in Commercial Engines and Services. At GE Vernova, our Grid and now Onshore Wind businesses were both profitable this quarter and we expect their performance to continue to improve. With our two largest Renewable Energy businesses delivering and Power's continued strength, we remain highly confident in GE Vernova's spin-off next year." C "Based on our year-to-date results and continued momentum in the fourth quarter, GE is raising full-year 2023 guidance," he added. "We're well-positioned to launch GE Aerospace and GE Vernova as independent companies in the beginning of the second quarter. I'm more excited than ever about our path ahead." General Electric shares were marked 5.26% higher in pre-market trading immediately following the earnings release to indicate an opening bell price of $112.30 each, a move that would extend the stock's six-month gain to around 12%.Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
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TheStreet
General Electric surges on Q3 earnings beat, 2023 profit forecast boost
GE Aviation once again powered the group's third quarter top and bottom lines, with GE now forecasting full-year free cash low north of $5 billion.
*Apple внедрит ИИ во все свои устройства и многие сервисы*
Нейросеть появится в ОС, Siri, Apple Musiс, Pages и Keynote.
[Read more...](https://lifehacker.ru/apple-vnedrit-ii-v-ustrojstva/)
Нейросеть появится в ОС, Siri, Apple Musiс, Pages и Keynote.
[Read more...](https://lifehacker.ru/apple-vnedrit-ii-v-ustrojstva/)
*The Last Thing You Should Do with an Empty Tissue Box*
Don't be so quick to get rid of it. READ MORE...
[Read more...](https://www.apartmenttherapy.com/tissue-box-plastic-bag-hack-37326457?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main)
Don't be so quick to get rid of it. READ MORE...
[Read more...](https://www.apartmenttherapy.com/tissue-box-plastic-bag-hack-37326457?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main)
*RTX soars as 'historic' demand powers Q3 earnings, offsets Pratt & Whitney hit*
Updated at 9:31 am EDT RTX (RTX) - Get Free Report shares soared higher Tuesday after the defense contractor rode 'historic' demand to better-than-expected third quarter earnings that offset the impact of structural flaws found in its Pratt & Whitney engine division. RTX posted a bottom line of $1.25 per share, up 3% from last year and topping Street forecasts, on adjusted revenues of $19 billion. The group also added that Pratt & Whitney, the engine-making business it acquired through the $120 billion merger between Raytheon and United Technologies in 2020, fell to a $2.48 billion operating loss linked to the removal and inspection of a 'significant' number of GTF engines from Airbus A320neo airplanes The engines, which are used by Airbus clients such as Delta Air Lines (DAL) - Get Free Report, were affected by a "rare condition in powder metal used to manufacture certain parts", according to RTX, and will require an "accelerated fleet inspection" over the coming year. CEO Greg Hayes, however, said the group won't see any "significant future incremental impact" from the unit going forward. Looking into the final months of the year, RTX said it sees adjusted earnings in the region of $4.98 to $5.02 per share, a three cent improvement from its prior forecast, with free cash flow rising to around $4.8 billion. "We have made significant progress on our assessment of the Pratt & Whitney powder metal manufacturing matter and expect the financial impact to be in line with the previously disclosed charge," said CEO Greg Hayes. "We are now focused on executing on our fleet management plans and are working relentlessly to mitigate further disruption to our customers. We do not expect any significant future incremental impact as a result of these fleet management plans." "The historic demand across our commercial aerospace and defense businesses drove 12 percent organic sales growth during the third quarter and led to another record backlog of $190 billion," he added. RTX shares were marked 7.3% higher in early Tuesday trading to change hands at $78.52 each, a move that would still leave the stock down more than 23% over the past six months. Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
[Read more...](https://www.thestreet.com/investing/stocks/rtx-soars-as-historic-demand-powers-earnings-offsets-pratt-whitney-hit)
Updated at 9:31 am EDT RTX (RTX) - Get Free Report shares soared higher Tuesday after the defense contractor rode 'historic' demand to better-than-expected third quarter earnings that offset the impact of structural flaws found in its Pratt & Whitney engine division. RTX posted a bottom line of $1.25 per share, up 3% from last year and topping Street forecasts, on adjusted revenues of $19 billion. The group also added that Pratt & Whitney, the engine-making business it acquired through the $120 billion merger between Raytheon and United Technologies in 2020, fell to a $2.48 billion operating loss linked to the removal and inspection of a 'significant' number of GTF engines from Airbus A320neo airplanes The engines, which are used by Airbus clients such as Delta Air Lines (DAL) - Get Free Report, were affected by a "rare condition in powder metal used to manufacture certain parts", according to RTX, and will require an "accelerated fleet inspection" over the coming year. CEO Greg Hayes, however, said the group won't see any "significant future incremental impact" from the unit going forward. Looking into the final months of the year, RTX said it sees adjusted earnings in the region of $4.98 to $5.02 per share, a three cent improvement from its prior forecast, with free cash flow rising to around $4.8 billion. "We have made significant progress on our assessment of the Pratt & Whitney powder metal manufacturing matter and expect the financial impact to be in line with the previously disclosed charge," said CEO Greg Hayes. "We are now focused on executing on our fleet management plans and are working relentlessly to mitigate further disruption to our customers. We do not expect any significant future incremental impact as a result of these fleet management plans." "The historic demand across our commercial aerospace and defense businesses drove 12 percent organic sales growth during the third quarter and led to another record backlog of $190 billion," he added. RTX shares were marked 7.3% higher in early Tuesday trading to change hands at $78.52 each, a move that would still leave the stock down more than 23% over the past six months. Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
[Read more...](https://www.thestreet.com/investing/stocks/rtx-soars-as-historic-demand-powers-earnings-offsets-pratt-whitney-hit)
TheStreet
RTX soars as 'historic' demand powers Q3 earnings, offsets Pratt & Whitney hit
RTX, formed through the merger of Raytheon and United Technologies, posted better-than-expected third quarter earnings powered by 'historic' aerospace and defense demand.
RTX soars as 'historic' demand powers Q3 earnings, offsets Pratt & Whitney hit
Updated at 9:31 am EDT RTX (RTX) - Get Free Report shares soared higher Tuesday after the defense contractor rode 'historic' demand to better-than-expected third quarter earnings that offset the impact of structural flaws found in its Pratt & Whitney engine division. RTX posted a bottom line of $1.25 per share, up 3% from last year and topping Street forecasts, on adjusted revenues of $19 billion. The group also added that Pratt & Whitney, the engine-making business it acquired through the $120 billion merger between Raytheon and United Technologies in 2020, fell to a $2.48 billion operating loss linked to the removal and inspection of a 'significant' number of GTF engines from Airbus A320neo airplanes The engines, which are used by Airbus clients such as Delta Air Lines (DAL) - Get Free Report, were affected by a "rare condition in powder metal used to manufacture certain parts", according to RTX, and will require an "accelerated fleet inspection" over the coming year. CEO Greg Hayes, however, said the group won't see any "significant future incremental impact" from the unit going forward. Looking into the final months of the year, RTX said it sees adjusted earnings in the region of $4.98 to $5.02 per share, a three cent improvement from its prior forecast, with free cash flow rising to around $4.8 billion. "We have made significant progress on our assessment of the Pratt & Whitney powder metal manufacturing matter and expect the financial impact to be in line with the previously disclosed charge," said CEO Greg Hayes. "We are now focused on executing on our fleet management plans and are working relentlessly to mitigate further disruption to our customers. We do not expect any significant future incremental impact as a result of these fleet management plans." "The historic demand across our commercial aerospace and defense businesses drove 12 percent organic sales growth during the third quarter and led to another record backlog of $190 billion," he added. RTX shares were marked 7.3% higher in early Tuesday trading to change hands at $78.52 each, a move that would still leave the stock down more than 23% over the past six months. Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
Read more...
Updated at 9:31 am EDT RTX (RTX) - Get Free Report shares soared higher Tuesday after the defense contractor rode 'historic' demand to better-than-expected third quarter earnings that offset the impact of structural flaws found in its Pratt & Whitney engine division. RTX posted a bottom line of $1.25 per share, up 3% from last year and topping Street forecasts, on adjusted revenues of $19 billion. The group also added that Pratt & Whitney, the engine-making business it acquired through the $120 billion merger between Raytheon and United Technologies in 2020, fell to a $2.48 billion operating loss linked to the removal and inspection of a 'significant' number of GTF engines from Airbus A320neo airplanes The engines, which are used by Airbus clients such as Delta Air Lines (DAL) - Get Free Report, were affected by a "rare condition in powder metal used to manufacture certain parts", according to RTX, and will require an "accelerated fleet inspection" over the coming year. CEO Greg Hayes, however, said the group won't see any "significant future incremental impact" from the unit going forward. Looking into the final months of the year, RTX said it sees adjusted earnings in the region of $4.98 to $5.02 per share, a three cent improvement from its prior forecast, with free cash flow rising to around $4.8 billion. "We have made significant progress on our assessment of the Pratt & Whitney powder metal manufacturing matter and expect the financial impact to be in line with the previously disclosed charge," said CEO Greg Hayes. "We are now focused on executing on our fleet management plans and are working relentlessly to mitigate further disruption to our customers. We do not expect any significant future incremental impact as a result of these fleet management plans." "The historic demand across our commercial aerospace and defense businesses drove 12 percent organic sales growth during the third quarter and led to another record backlog of $190 billion," he added. RTX shares were marked 7.3% higher in early Tuesday trading to change hands at $78.52 each, a move that would still leave the stock down more than 23% over the past six months. Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
Read more...
TheStreet
RTX soars as 'historic' demand powers Q3 earnings, offsets Pratt & Whitney hit
RTX, formed through the merger of Raytheon and United Technologies, posted better-than-expected third quarter earnings powered by 'historic' aerospace and defense demand.
*One of Elon Musk's newer ventures is now worth $7 billion*
In 2016, Elon Musk, the billionaire behind a growing list of tech and tech-adjacent companies, tweeted his way into a new venture: The Boring Company. It began as a rant about traffic-related frustrations; after a few minutes, Musk had the idea in hand — "I am going to build a tunnel boring machine and just start digging" — and the name. "I'm actually going to do this," he wrote at the time. Related: Elon Musk has a blunt take on capitalism The Boring Company broke ground on its first project in February 2017, and has so far completed three projects: the R&D Tunnel, the Hyperloop Test Track and the Las Vegas Convention Center. The company is currently working on a 68-mile Vegas Loop station whose eventual goal is to connect Las Vegas and Los Angeles. Elon Musk, looking to end traffic with The Boring Company, is additionally looking to transform the aviation industry with SpaceX. Bloomberg/Getty Images The Boring Company, according to a recent report by The Information, has achieved an implied valuation of $7 billion after a recent sale of shares held by employees and investors. The shares were sold at a price 22% higher than in a funding round held by the company last year. According to two people familiar with the sale, the shares were priced at $24 each; the company's $675 million Series C funding round in April of last year priced shares at $19 each. The Boring Company reportedly said that investors could buy up to $20 million in secondary shares as part of the recent sale. Related: Elon Musk says one of his ventures will reach a $1 trillion market cap by 2030 The Boring Company's big proposition is that it can make tunneling cheap and fast through new technologies; the company's Prufrock machine can currently mine about one mile per week, drastically speeding up the tunnel-building process. New models of the machine are expected to operate even quicker. In a September post, an X user speculated that Boring will have mined more than 10,000 miles of tunnel and achieved a $1 trillion valuation by 2030, the beginning of the company's exponential rise. In a response to the tweet, Musk said that this bullish expectation could be achieved. "This is actually possible from a technology standpoint," he said. "By far the biggest impediment is getting permits. Construction is becoming practically illegal in North America and Europe!" Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
[Read more...](https://www.thestreet.com/technology/elon-musk-boring-company-market-cap-7-billion-dollars)
In 2016, Elon Musk, the billionaire behind a growing list of tech and tech-adjacent companies, tweeted his way into a new venture: The Boring Company. It began as a rant about traffic-related frustrations; after a few minutes, Musk had the idea in hand — "I am going to build a tunnel boring machine and just start digging" — and the name. "I'm actually going to do this," he wrote at the time. Related: Elon Musk has a blunt take on capitalism The Boring Company broke ground on its first project in February 2017, and has so far completed three projects: the R&D Tunnel, the Hyperloop Test Track and the Las Vegas Convention Center. The company is currently working on a 68-mile Vegas Loop station whose eventual goal is to connect Las Vegas and Los Angeles. Elon Musk, looking to end traffic with The Boring Company, is additionally looking to transform the aviation industry with SpaceX. Bloomberg/Getty Images The Boring Company, according to a recent report by The Information, has achieved an implied valuation of $7 billion after a recent sale of shares held by employees and investors. The shares were sold at a price 22% higher than in a funding round held by the company last year. According to two people familiar with the sale, the shares were priced at $24 each; the company's $675 million Series C funding round in April of last year priced shares at $19 each. The Boring Company reportedly said that investors could buy up to $20 million in secondary shares as part of the recent sale. Related: Elon Musk says one of his ventures will reach a $1 trillion market cap by 2030 The Boring Company's big proposition is that it can make tunneling cheap and fast through new technologies; the company's Prufrock machine can currently mine about one mile per week, drastically speeding up the tunnel-building process. New models of the machine are expected to operate even quicker. In a September post, an X user speculated that Boring will have mined more than 10,000 miles of tunnel and achieved a $1 trillion valuation by 2030, the beginning of the company's exponential rise. In a response to the tweet, Musk said that this bullish expectation could be achieved. "This is actually possible from a technology standpoint," he said. "By far the biggest impediment is getting permits. Construction is becoming practically illegal in North America and Europe!" Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
[Read more...](https://www.thestreet.com/technology/elon-musk-boring-company-market-cap-7-billion-dollars)
TheStreet
One of Elon Musk's newer ventures is now worth $7 billion
Elon Musk recently claimed that this company will be worth $1 trillion by the end of the decade.
One of Elon Musk's newer ventures is now worth $7 billion
In 2016, Elon Musk, the billionaire behind a growing list of tech and tech-adjacent companies, tweeted his way into a new venture: The Boring Company. It began as a rant about traffic-related frustrations; after a few minutes, Musk had the idea in hand — "I am going to build a tunnel boring machine and just start digging" — and the name. "I'm actually going to do this," he wrote at the time. Related: Elon Musk has a blunt take on capitalism The Boring Company broke ground on its first project in February 2017, and has so far completed three projects: the R&D Tunnel, the Hyperloop Test Track and the Las Vegas Convention Center. The company is currently working on a 68-mile Vegas Loop station whose eventual goal is to connect Las Vegas and Los Angeles. Elon Musk, looking to end traffic with The Boring Company, is additionally looking to transform the aviation industry with SpaceX. Bloomberg/Getty Images The Boring Company, according to a recent report by The Information, has achieved an implied valuation of $7 billion after a recent sale of shares held by employees and investors. The shares were sold at a price 22% higher than in a funding round held by the company last year. According to two people familiar with the sale, the shares were priced at $24 each; the company's $675 million Series C funding round in April of last year priced shares at $19 each. The Boring Company reportedly said that investors could buy up to $20 million in secondary shares as part of the recent sale. Related: Elon Musk says one of his ventures will reach a $1 trillion market cap by 2030 The Boring Company's big proposition is that it can make tunneling cheap and fast through new technologies; the company's Prufrock machine can currently mine about one mile per week, drastically speeding up the tunnel-building process. New models of the machine are expected to operate even quicker. In a September post, an X user speculated that Boring will have mined more than 10,000 miles of tunnel and achieved a $1 trillion valuation by 2030, the beginning of the company's exponential rise. In a response to the tweet, Musk said that this bullish expectation could be achieved. "This is actually possible from a technology standpoint," he said. "By far the biggest impediment is getting permits. Construction is becoming practically illegal in North America and Europe!" Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
Read more...
In 2016, Elon Musk, the billionaire behind a growing list of tech and tech-adjacent companies, tweeted his way into a new venture: The Boring Company. It began as a rant about traffic-related frustrations; after a few minutes, Musk had the idea in hand — "I am going to build a tunnel boring machine and just start digging" — and the name. "I'm actually going to do this," he wrote at the time. Related: Elon Musk has a blunt take on capitalism The Boring Company broke ground on its first project in February 2017, and has so far completed three projects: the R&D Tunnel, the Hyperloop Test Track and the Las Vegas Convention Center. The company is currently working on a 68-mile Vegas Loop station whose eventual goal is to connect Las Vegas and Los Angeles. Elon Musk, looking to end traffic with The Boring Company, is additionally looking to transform the aviation industry with SpaceX. Bloomberg/Getty Images The Boring Company, according to a recent report by The Information, has achieved an implied valuation of $7 billion after a recent sale of shares held by employees and investors. The shares were sold at a price 22% higher than in a funding round held by the company last year. According to two people familiar with the sale, the shares were priced at $24 each; the company's $675 million Series C funding round in April of last year priced shares at $19 each. The Boring Company reportedly said that investors could buy up to $20 million in secondary shares as part of the recent sale. Related: Elon Musk says one of his ventures will reach a $1 trillion market cap by 2030 The Boring Company's big proposition is that it can make tunneling cheap and fast through new technologies; the company's Prufrock machine can currently mine about one mile per week, drastically speeding up the tunnel-building process. New models of the machine are expected to operate even quicker. In a September post, an X user speculated that Boring will have mined more than 10,000 miles of tunnel and achieved a $1 trillion valuation by 2030, the beginning of the company's exponential rise. In a response to the tweet, Musk said that this bullish expectation could be achieved. "This is actually possible from a technology standpoint," he said. "By far the biggest impediment is getting permits. Construction is becoming practically illegal in North America and Europe!" Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
Read more...
TheStreet
One of Elon Musk's newer ventures is now worth $7 billion
Elon Musk recently claimed that this company will be worth $1 trillion by the end of the decade.
*И так сойдёт: 16 примеров, когда работа выполнена только для галочки*
Чудеса инженерной мысли, «мастерский» ремонт и что-то совершенно необъяснимое.
[Read more...](https://lifehacker.ru/i-tak-sojdyot-16-primerov/)
Чудеса инженерной мысли, «мастерский» ремонт и что-то совершенно необъяснимое.
[Read more...](https://lifehacker.ru/i-tak-sojdyot-16-primerov/)
*10 вещей, которые снижают эффективность оральных контрацептивов*
Не увлекайтесь чаем со зверобоем и мелиссой.
[Read more...](https://lifehacker.ru/chto-snizhaet-effektivnost-kok/)
Не увлекайтесь чаем со зверобоем и мелиссой.
[Read more...](https://lifehacker.ru/chto-snizhaet-effektivnost-kok/)
*3 Homebuyers Reveal Why They Regret Buying Flipped Houses*
These horror stories arent pretty. READ MORE...
[Read more...](https://www.apartmenttherapy.com/homebuyers-regret-buying-flipped-houses-37328457?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main)
These horror stories arent pretty. READ MORE...
[Read more...](https://www.apartmenttherapy.com/homebuyers-regret-buying-flipped-houses-37328457?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main)
*3 параметра, которые стоит учесть, если ищете ноутбук для работы с 3D-графикой и видео*
Важны не только характеристики видеокарты. Вместе с MSI рассказываем, на что ещё обратить внимание перед покупкой гаджета для создания «тяжёлого» контента.
[Read more...](https://lifehacker.ru/noutbuk-dlya-raboty-s-3d-grafikoj-i-video/)
Важны не только характеристики видеокарты. Вместе с MSI рассказываем, на что ещё обратить внимание перед покупкой гаджета для создания «тяжёлого» контента.
[Read more...](https://lifehacker.ru/noutbuk-dlya-raboty-s-3d-grafikoj-i-video/)
*UAW expands strike to Stellantis pickup plant: Latest developments*
TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Tuesday, October 24. J.D. DURKIN: I’m J.D. Durkin - reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today. Third-quarter earnings season continues to heat up with Alphabet (GOOGL) - Get Free Report, Microsoft (MSFT) - Get Free Report, Coca-Cola (KO) - Get Free Report, Spotify (SPOT) - Get Free Report, Visa (V) - Get Free Report, and Snap all releasing earnings today. We've seen a pop in shares of General Motors (GM) - Get Free Report this morning after the carmaker beat Wall Street expectations. So far, roughly 20% of S&P companies have already reported earnings, and about three-quarters of them have beaten analysts' expectations, according to FactSet. Meanwhile, the ongoing United Auto Workers strike got a bit bigger on Monday. The union ordered a surprise, targeted strike at Stellantis, which is considered the "largest plant and biggest money maker." 6,800 employees hit the picket lines at Stellantis' Sterling Heights Assembly Plant in Michigan. The plant is responsible for manufacturing the Ram 1500 pickup - the Ram pickup truck is Stellantis' best-selling vehicle in the U.S. The union alleges that Stellantis, which makes Dodge, Ram, Jeep, and Chrysler vehicles, has offered the worst proposal for a new deal. In response, the company said, "We are outraged that the UAW has chosen to expand its strike action against Stellantis. Following multiple conversations that appeared to be productive, we left the bargaining table expecting a counter-proposal, but have been waiting for one ever since." The UAW strike, which started on September 15 with just about 13,000 employees, has since grown to more than 40,000 members. 16,600 are on strike at Ford, 14,600 at Stellantis, and just over 9,000 are on strike at General Motors. That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
[Read more...](https://www.thestreet.com/video/uaw-broadens-strike-to-stellantis-pickup-plant)
TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Tuesday, October 24. J.D. DURKIN: I’m J.D. Durkin - reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today. Third-quarter earnings season continues to heat up with Alphabet (GOOGL) - Get Free Report, Microsoft (MSFT) - Get Free Report, Coca-Cola (KO) - Get Free Report, Spotify (SPOT) - Get Free Report, Visa (V) - Get Free Report, and Snap all releasing earnings today. We've seen a pop in shares of General Motors (GM) - Get Free Report this morning after the carmaker beat Wall Street expectations. So far, roughly 20% of S&P companies have already reported earnings, and about three-quarters of them have beaten analysts' expectations, according to FactSet. Meanwhile, the ongoing United Auto Workers strike got a bit bigger on Monday. The union ordered a surprise, targeted strike at Stellantis, which is considered the "largest plant and biggest money maker." 6,800 employees hit the picket lines at Stellantis' Sterling Heights Assembly Plant in Michigan. The plant is responsible for manufacturing the Ram 1500 pickup - the Ram pickup truck is Stellantis' best-selling vehicle in the U.S. The union alleges that Stellantis, which makes Dodge, Ram, Jeep, and Chrysler vehicles, has offered the worst proposal for a new deal. In response, the company said, "We are outraged that the UAW has chosen to expand its strike action against Stellantis. Following multiple conversations that appeared to be productive, we left the bargaining table expecting a counter-proposal, but have been waiting for one ever since." The UAW strike, which started on September 15 with just about 13,000 employees, has since grown to more than 40,000 members. 16,600 are on strike at Ford, 14,600 at Stellantis, and just over 9,000 are on strike at General Motors. That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
[Read more...](https://www.thestreet.com/video/uaw-broadens-strike-to-stellantis-pickup-plant)
TheStreet
UAW expands strike to Stellantis pickup plant: Latest developments
6,800 workers hit the picket lines at Stellantis' Sterling Heights Assembly Plant in Michigan, Tuesday.
UAW expands strike to Stellantis pickup plant: Latest developments
TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Tuesday, October 24. J.D. DURKIN: I’m J.D. Durkin - reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today. Third-quarter earnings season continues to heat up with Alphabet (GOOGL) - Get Free Report, Microsoft (MSFT) - Get Free Report, Coca-Cola (KO) - Get Free Report, Spotify (SPOT) - Get Free Report, Visa (V) - Get Free Report, and Snap all releasing earnings today. We've seen a pop in shares of General Motors (GM) - Get Free Report this morning after the carmaker beat Wall Street expectations. So far, roughly 20% of S&P companies have already reported earnings, and about three-quarters of them have beaten analysts' expectations, according to FactSet. Meanwhile, the ongoing United Auto Workers strike got a bit bigger on Monday. The union ordered a surprise, targeted strike at Stellantis, which is considered the "largest plant and biggest money maker." 6,800 employees hit the picket lines at Stellantis' Sterling Heights Assembly Plant in Michigan. The plant is responsible for manufacturing the Ram 1500 pickup - the Ram pickup truck is Stellantis' best-selling vehicle in the U.S. The union alleges that Stellantis, which makes Dodge, Ram, Jeep, and Chrysler vehicles, has offered the worst proposal for a new deal. In response, the company said, "We are outraged that the UAW has chosen to expand its strike action against Stellantis. Following multiple conversations that appeared to be productive, we left the bargaining table expecting a counter-proposal, but have been waiting for one ever since." The UAW strike, which started on September 15 with just about 13,000 employees, has since grown to more than 40,000 members. 16,600 are on strike at Ford, 14,600 at Stellantis, and just over 9,000 are on strike at General Motors. That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
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TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Tuesday, October 24. J.D. DURKIN: I’m J.D. Durkin - reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today. Third-quarter earnings season continues to heat up with Alphabet (GOOGL) - Get Free Report, Microsoft (MSFT) - Get Free Report, Coca-Cola (KO) - Get Free Report, Spotify (SPOT) - Get Free Report, Visa (V) - Get Free Report, and Snap all releasing earnings today. We've seen a pop in shares of General Motors (GM) - Get Free Report this morning after the carmaker beat Wall Street expectations. So far, roughly 20% of S&P companies have already reported earnings, and about three-quarters of them have beaten analysts' expectations, according to FactSet. Meanwhile, the ongoing United Auto Workers strike got a bit bigger on Monday. The union ordered a surprise, targeted strike at Stellantis, which is considered the "largest plant and biggest money maker." 6,800 employees hit the picket lines at Stellantis' Sterling Heights Assembly Plant in Michigan. The plant is responsible for manufacturing the Ram 1500 pickup - the Ram pickup truck is Stellantis' best-selling vehicle in the U.S. The union alleges that Stellantis, which makes Dodge, Ram, Jeep, and Chrysler vehicles, has offered the worst proposal for a new deal. In response, the company said, "We are outraged that the UAW has chosen to expand its strike action against Stellantis. Following multiple conversations that appeared to be productive, we left the bargaining table expecting a counter-proposal, but have been waiting for one ever since." The UAW strike, which started on September 15 with just about 13,000 employees, has since grown to more than 40,000 members. 16,600 are on strike at Ford, 14,600 at Stellantis, and just over 9,000 are on strike at General Motors. That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
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TheStreet
UAW expands strike to Stellantis pickup plant: Latest developments
6,800 workers hit the picket lines at Stellantis' Sterling Heights Assembly Plant in Michigan, Tuesday.
*Airline pays woman who missed flight for blind date*
Missing a flight for love has been a plot move in many a romantic comedy. Earlier this fall, Florida resident Karissa Wampler took a cue from them when she ditched her Frontier Airlines (ULCC) - Get Free Report flight for a chance at love. As Wampler recounts in a viral TikTok video, she was already at the airport to fly back to Florida from a trip to her home state of North Carolina when she got a text from a friend about a friend of a friend she thought could be her "soulmate."Related: Dad who created child-free flight for himself is getting blasted on TikTok "I didn't get on my plane and talked to him, he texted me," Wampler said. "I said 'you have 20 minutes to convince me that I should go out with you tonight and rebook my flight for tomorrow [...] and he convinced me so I'm going.'" @k.wamp This was too crazy not to vlog
[Read more...](https://www.thestreet.com/travel/frontier-airlines-granola-boy-blind-date)
Missing a flight for love has been a plot move in many a romantic comedy. Earlier this fall, Florida resident Karissa Wampler took a cue from them when she ditched her Frontier Airlines (ULCC) - Get Free Report flight for a chance at love. As Wampler recounts in a viral TikTok video, she was already at the airport to fly back to Florida from a trip to her home state of North Carolina when she got a text from a friend about a friend of a friend she thought could be her "soulmate."Related: Dad who created child-free flight for himself is getting blasted on TikTok "I didn't get on my plane and talked to him, he texted me," Wampler said. "I said 'you have 20 minutes to convince me that I should go out with you tonight and rebook my flight for tomorrow [...] and he convinced me so I'm going.'" @k.wamp This was too crazy not to vlog
[Read more...](https://www.thestreet.com/travel/frontier-airlines-granola-boy-blind-date)
TheStreet
'We're rooting for you': Airline pays woman who missed flight for blind date
"Frontier has been watching all this," Karissa Wempler said in her viral TikTok video.
Airline pays woman who missed flight for blind date
Missing a flight for love has been a plot move in many a romantic comedy. Earlier this fall, Florida resident Karissa Wampler took a cue from them when she ditched her Frontier Airlines (ULCC) - Get Free Report flight for a chance at love. As Wampler recounts in a viral TikTok video, she was already at the airport to fly back to Florida from a trip to her home state of North Carolina when she got a text from a friend about a friend of a friend she thought could be her "soulmate."Related: Dad who created child-free flight for himself is getting blasted on TikTok "I didn't get on my plane and talked to him, he texted me," Wampler said. "I said 'you have 20 minutes to convince me that I should go out with you tonight and rebook my flight for tomorrow ... and he convinced me so I'm going.'" @k.wamp This was too crazy not to vlog
Read more...
Missing a flight for love has been a plot move in many a romantic comedy. Earlier this fall, Florida resident Karissa Wampler took a cue from them when she ditched her Frontier Airlines (ULCC) - Get Free Report flight for a chance at love. As Wampler recounts in a viral TikTok video, she was already at the airport to fly back to Florida from a trip to her home state of North Carolina when she got a text from a friend about a friend of a friend she thought could be her "soulmate."Related: Dad who created child-free flight for himself is getting blasted on TikTok "I didn't get on my plane and talked to him, he texted me," Wampler said. "I said 'you have 20 minutes to convince me that I should go out with you tonight and rebook my flight for tomorrow ... and he convinced me so I'm going.'" @k.wamp This was too crazy not to vlog
Read more...
TheStreet
'We're rooting for you': Airline pays woman who missed flight for blind date
"Frontier has been watching all this," Karissa Wempler said in her viral TikTok video.
*Cathie Wood dumps another $4.5 million worth of Nvidia amid stock rally*
In the last year, semiconductor giant Nvidia (NVDA) - Get Free Report has become synonymous with investor sentiment around the practicality of artificial intelligence. The firm's chips make AI products possible, marking it as one of the most dependable bets in the current AI gold rush. The company has additionally begun to develop central processing units (CPUs) that would run Microsoft (MSFT) - Get Free Report Windows operating system for its personal computers, according to a report by Reuters. Related: How Cathie Wood's major stock moves have hit recent snags Nvidia, according to the Oct. 23 report, could be in a position to sell PC chips by 2025, a move that would heavily threaten Intel (INTC) - Get Free Report. Nvidia shares closed the day up more than 3% as Intel shares fell by around 3% following the news. In the midst of this, Cathie Wood's Ark Invest further cut its meager remaining Nvidia holdings by 10,396 shares, a sale by Ark's Genomic Revolution ETF valued at around $4.5 million. This latest sale brings the ETF's Nvidia holding down to just 37,874 shares, worth slightly more than $16 million and weighted at 1.13% of the fund. Shares of Nvidia are up around 200% for the year, a stock movement that has catapulted the company beyond a $1 trillion market cap. SOPA Images/Getty Images Ark's flagship Innovation ETF no longer has any exposure to Nvidia. Ark Invest famously sold the bulk of its Nvidia holdings shortly before the company reported record first-quarter earnings, skyrocketing in value. But CEO and investment lead Cathie Wood has defended the decision ever since, claiming staunchly that Tesla (TSLA) - Get Free Report is a stronger long-term AI bet than Nvidia. Related: Cathie Wood says one prominent tech stock is a stronger long-term bet than Nvidia Part of Wood's reasoning for this approach centers around margins. Wood said last week that Nvidia's gross margins — already high at around 70% — can't get much higher. Tesla's margins, however, which have recently been crumbling, have a lot of room to grow. "We think that a lot of people understand how important Nvidia is in this ecosystem and they do not understand how much each dollar of hardware spent is going to pull software through," Wood said. "We think it's on the order of 20 times." Nvidia will report third-quarter earnings after market close Nov. 21. The company's stock, up nearly 200% for the year, rose slightly Tuesday morning. Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
[Read more...](https://www.thestreet.com/investing/stocks/cathie-wood-dumps-4-5-million-worth-of-surging-big-tech-titan)
In the last year, semiconductor giant Nvidia (NVDA) - Get Free Report has become synonymous with investor sentiment around the practicality of artificial intelligence. The firm's chips make AI products possible, marking it as one of the most dependable bets in the current AI gold rush. The company has additionally begun to develop central processing units (CPUs) that would run Microsoft (MSFT) - Get Free Report Windows operating system for its personal computers, according to a report by Reuters. Related: How Cathie Wood's major stock moves have hit recent snags Nvidia, according to the Oct. 23 report, could be in a position to sell PC chips by 2025, a move that would heavily threaten Intel (INTC) - Get Free Report. Nvidia shares closed the day up more than 3% as Intel shares fell by around 3% following the news. In the midst of this, Cathie Wood's Ark Invest further cut its meager remaining Nvidia holdings by 10,396 shares, a sale by Ark's Genomic Revolution ETF valued at around $4.5 million. This latest sale brings the ETF's Nvidia holding down to just 37,874 shares, worth slightly more than $16 million and weighted at 1.13% of the fund. Shares of Nvidia are up around 200% for the year, a stock movement that has catapulted the company beyond a $1 trillion market cap. SOPA Images/Getty Images Ark's flagship Innovation ETF no longer has any exposure to Nvidia. Ark Invest famously sold the bulk of its Nvidia holdings shortly before the company reported record first-quarter earnings, skyrocketing in value. But CEO and investment lead Cathie Wood has defended the decision ever since, claiming staunchly that Tesla (TSLA) - Get Free Report is a stronger long-term AI bet than Nvidia. Related: Cathie Wood says one prominent tech stock is a stronger long-term bet than Nvidia Part of Wood's reasoning for this approach centers around margins. Wood said last week that Nvidia's gross margins — already high at around 70% — can't get much higher. Tesla's margins, however, which have recently been crumbling, have a lot of room to grow. "We think that a lot of people understand how important Nvidia is in this ecosystem and they do not understand how much each dollar of hardware spent is going to pull software through," Wood said. "We think it's on the order of 20 times." Nvidia will report third-quarter earnings after market close Nov. 21. The company's stock, up nearly 200% for the year, rose slightly Tuesday morning. Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
[Read more...](https://www.thestreet.com/investing/stocks/cathie-wood-dumps-4-5-million-worth-of-surging-big-tech-titan)
TheStreet
Cathie Wood dumps $4.5 million worth of surging Big Tech titan
Ark Invest has been pulling back its investment in this tech giant for months.
Cathie Wood dumps another $4.5 million worth of Nvidia amid stock rally
In the last year, semiconductor giant Nvidia (NVDA) - Get Free Report has become synonymous with investor sentiment around the practicality of artificial intelligence. The firm's chips make AI products possible, marking it as one of the most dependable bets in the current AI gold rush. The company has additionally begun to develop central processing units (CPUs) that would run Microsoft (MSFT) - Get Free Report Windows operating system for its personal computers, according to a report by Reuters. Related: How Cathie Wood's major stock moves have hit recent snags Nvidia, according to the Oct. 23 report, could be in a position to sell PC chips by 2025, a move that would heavily threaten Intel (INTC) - Get Free Report. Nvidia shares closed the day up more than 3% as Intel shares fell by around 3% following the news. In the midst of this, Cathie Wood's Ark Invest further cut its meager remaining Nvidia holdings by 10,396 shares, a sale by Ark's Genomic Revolution ETF valued at around $4.5 million. This latest sale brings the ETF's Nvidia holding down to just 37,874 shares, worth slightly more than $16 million and weighted at 1.13% of the fund. Shares of Nvidia are up around 200% for the year, a stock movement that has catapulted the company beyond a $1 trillion market cap. SOPA Images/Getty Images Ark's flagship Innovation ETF no longer has any exposure to Nvidia. Ark Invest famously sold the bulk of its Nvidia holdings shortly before the company reported record first-quarter earnings, skyrocketing in value. But CEO and investment lead Cathie Wood has defended the decision ever since, claiming staunchly that Tesla (TSLA) - Get Free Report is a stronger long-term AI bet than Nvidia. Related: Cathie Wood says one prominent tech stock is a stronger long-term bet than Nvidia Part of Wood's reasoning for this approach centers around margins. Wood said last week that Nvidia's gross margins — already high at around 70% — can't get much higher. Tesla's margins, however, which have recently been crumbling, have a lot of room to grow. "We think that a lot of people understand how important Nvidia is in this ecosystem and they do not understand how much each dollar of hardware spent is going to pull software through," Wood said. "We think it's on the order of 20 times." Nvidia will report third-quarter earnings after market close Nov. 21. The company's stock, up nearly 200% for the year, rose slightly Tuesday morning. Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
Read more...
In the last year, semiconductor giant Nvidia (NVDA) - Get Free Report has become synonymous with investor sentiment around the practicality of artificial intelligence. The firm's chips make AI products possible, marking it as one of the most dependable bets in the current AI gold rush. The company has additionally begun to develop central processing units (CPUs) that would run Microsoft (MSFT) - Get Free Report Windows operating system for its personal computers, according to a report by Reuters. Related: How Cathie Wood's major stock moves have hit recent snags Nvidia, according to the Oct. 23 report, could be in a position to sell PC chips by 2025, a move that would heavily threaten Intel (INTC) - Get Free Report. Nvidia shares closed the day up more than 3% as Intel shares fell by around 3% following the news. In the midst of this, Cathie Wood's Ark Invest further cut its meager remaining Nvidia holdings by 10,396 shares, a sale by Ark's Genomic Revolution ETF valued at around $4.5 million. This latest sale brings the ETF's Nvidia holding down to just 37,874 shares, worth slightly more than $16 million and weighted at 1.13% of the fund. Shares of Nvidia are up around 200% for the year, a stock movement that has catapulted the company beyond a $1 trillion market cap. SOPA Images/Getty Images Ark's flagship Innovation ETF no longer has any exposure to Nvidia. Ark Invest famously sold the bulk of its Nvidia holdings shortly before the company reported record first-quarter earnings, skyrocketing in value. But CEO and investment lead Cathie Wood has defended the decision ever since, claiming staunchly that Tesla (TSLA) - Get Free Report is a stronger long-term AI bet than Nvidia. Related: Cathie Wood says one prominent tech stock is a stronger long-term bet than Nvidia Part of Wood's reasoning for this approach centers around margins. Wood said last week that Nvidia's gross margins — already high at around 70% — can't get much higher. Tesla's margins, however, which have recently been crumbling, have a lot of room to grow. "We think that a lot of people understand how important Nvidia is in this ecosystem and they do not understand how much each dollar of hardware spent is going to pull software through," Wood said. "We think it's on the order of 20 times." Nvidia will report third-quarter earnings after market close Nov. 21. The company's stock, up nearly 200% for the year, rose slightly Tuesday morning. Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
Read more...
TheStreet
Cathie Wood dumps $4.5 million worth of surging Big Tech titan
Ark Invest has been pulling back its investment in this tech giant for months.
*Телескоп «Хаббл» сделал невероятное фото столкновения сразу трёх галактик*
Настоящий космический триллер, который завораживает красотой.
[Read more...](https://lifehacker.ru/xabbl-pokazal-stolknovenie-galaktik/)
Настоящий космический триллер, который завораживает красотой.
[Read more...](https://lifehacker.ru/xabbl-pokazal-stolknovenie-galaktik/)
*Apple to invest more than $1 billion annually in lucrative new area*
When ChatGPT launched nearly a year ago, the rest of Big Tech dove into what has since been dubbed the "AI arms race" in an attempt to develop and roll out artificially intelligent tech before any one firm dominates the market. Google (GOOGL) - Get Free Report, Meta (META) - Get Free Report and Microsoft (MSFT) - Get Free Report all raced to unveil generative AI assistants, while a litany of startups rushed to present a usable chatbot. Apple (AAPL) - Get Free Report, meanwhile, the biggest tech firm of the lot, has remained quiet on AI. During its new tech reveals throughout the year, the firm very purposefully avoided even mentioning the term AI, instead highlighting the term "machine learning" in discussing its new technological approaches. A July report, however, found that, behind closed doors, Apple was working frantically to develop its own ChatGPT competitor dubbed Ajax. Related: Apple Wants to Crash ChatGPT's Party -- Here's Why It Might Succeed The company is now on track to spend $1 billion annually on developing its generative AI products, according to a recent Bloomberg report. Apple executives were reportedly caught off guard by the sudden industry tilt toward AI. The company has since been frantic in its behind-the-scenes efforts to catch up to the competition. Apple unveiled the Vision Pro, a spatial computing headset that takes advantage of machine learning technology, in June. Justin Sullivan/Getty Images “There’s a lot of anxiety about this and it’s considered a pretty big miss internally,” a person with knowledge of the situation told Bloomberg. The executives who are currently leading Apple's AI push are reportedly pushing to incorporate AI into as many Apple apps and products as possible. This includes an AI-led revamp of Siri, which could be ready by next year, as well as new features in Apple Music and development tools like Xcode. Apple did not immediately respond to a request for comment.Analysts think this could be a big deal Despite Apple being a little late to the game, Deepwater's Gene Munster thinks that an integration of AI across Apple's suite of products could be hugely successful. "Apple has the biggest opportunity among Big Tech to pioneer personalized AI because of their views on privacy and security," Munster wrote. "While personalized AI does not exist today, eventually you'll be able to ask an AI bot to help manage your life."Related: Artificial Intelligence is a sustainability nightmare - but it doesn't have to be An Apple chatbot, Munster said, could quickly eat up the market for personalized AI chatbots designed to help users with everything, including, for example, booking and budgeting a family vacation through integration across calendars. "I hope within the next year Apple begins to use the language of 'personalized AI' with investors," he said. Munster, noting that $1 billion equates to around 3% of the company's research and development budget, said that he wants to see Apple spend around five times more on developing personalized AI. Apple will report earnings on Nov. 2 — a significant indication of Apple's AI urgency, according to Munster, would be visible if the company finally mentions the term "artificial intelligence" on the call. Shares of Apple, up around 33% for the year, lifted slightly in pre-market trading. Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
[Read more...](https://www.thestreet.com/technology/apple-investing-billions-generative-artificial-intelligence)
When ChatGPT launched nearly a year ago, the rest of Big Tech dove into what has since been dubbed the "AI arms race" in an attempt to develop and roll out artificially intelligent tech before any one firm dominates the market. Google (GOOGL) - Get Free Report, Meta (META) - Get Free Report and Microsoft (MSFT) - Get Free Report all raced to unveil generative AI assistants, while a litany of startups rushed to present a usable chatbot. Apple (AAPL) - Get Free Report, meanwhile, the biggest tech firm of the lot, has remained quiet on AI. During its new tech reveals throughout the year, the firm very purposefully avoided even mentioning the term AI, instead highlighting the term "machine learning" in discussing its new technological approaches. A July report, however, found that, behind closed doors, Apple was working frantically to develop its own ChatGPT competitor dubbed Ajax. Related: Apple Wants to Crash ChatGPT's Party -- Here's Why It Might Succeed The company is now on track to spend $1 billion annually on developing its generative AI products, according to a recent Bloomberg report. Apple executives were reportedly caught off guard by the sudden industry tilt toward AI. The company has since been frantic in its behind-the-scenes efforts to catch up to the competition. Apple unveiled the Vision Pro, a spatial computing headset that takes advantage of machine learning technology, in June. Justin Sullivan/Getty Images “There’s a lot of anxiety about this and it’s considered a pretty big miss internally,” a person with knowledge of the situation told Bloomberg. The executives who are currently leading Apple's AI push are reportedly pushing to incorporate AI into as many Apple apps and products as possible. This includes an AI-led revamp of Siri, which could be ready by next year, as well as new features in Apple Music and development tools like Xcode. Apple did not immediately respond to a request for comment.Analysts think this could be a big deal Despite Apple being a little late to the game, Deepwater's Gene Munster thinks that an integration of AI across Apple's suite of products could be hugely successful. "Apple has the biggest opportunity among Big Tech to pioneer personalized AI because of their views on privacy and security," Munster wrote. "While personalized AI does not exist today, eventually you'll be able to ask an AI bot to help manage your life."Related: Artificial Intelligence is a sustainability nightmare - but it doesn't have to be An Apple chatbot, Munster said, could quickly eat up the market for personalized AI chatbots designed to help users with everything, including, for example, booking and budgeting a family vacation through integration across calendars. "I hope within the next year Apple begins to use the language of 'personalized AI' with investors," he said. Munster, noting that $1 billion equates to around 3% of the company's research and development budget, said that he wants to see Apple spend around five times more on developing personalized AI. Apple will report earnings on Nov. 2 — a significant indication of Apple's AI urgency, according to Munster, would be visible if the company finally mentions the term "artificial intelligence" on the call. Shares of Apple, up around 33% for the year, lifted slightly in pre-market trading. Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
[Read more...](https://www.thestreet.com/technology/apple-investing-billions-generative-artificial-intelligence)
TheStreet
Apple to invest more than $1 billion annually in lucrative new area
The $3 trillion company has the "biggest opportunity among Big Tech to pioneer" this avenue.
Apple to invest more than $1 billion annually in lucrative new area
When ChatGPT launched nearly a year ago, the rest of Big Tech dove into what has since been dubbed the "AI arms race" in an attempt to develop and roll out artificially intelligent tech before any one firm dominates the market. Google (GOOGL) - Get Free Report, Meta (META) - Get Free Report and Microsoft (MSFT) - Get Free Report all raced to unveil generative AI assistants, while a litany of startups rushed to present a usable chatbot. Apple (AAPL) - Get Free Report, meanwhile, the biggest tech firm of the lot, has remained quiet on AI. During its new tech reveals throughout the year, the firm very purposefully avoided even mentioning the term AI, instead highlighting the term "machine learning" in discussing its new technological approaches. A July report, however, found that, behind closed doors, Apple was working frantically to develop its own ChatGPT competitor dubbed Ajax. Related: Apple Wants to Crash ChatGPT's Party -- Here's Why It Might Succeed The company is now on track to spend $1 billion annually on developing its generative AI products, according to a recent Bloomberg report. Apple executives were reportedly caught off guard by the sudden industry tilt toward AI. The company has since been frantic in its behind-the-scenes efforts to catch up to the competition. Apple unveiled the Vision Pro, a spatial computing headset that takes advantage of machine learning technology, in June. Justin Sullivan/Getty Images “There’s a lot of anxiety about this and it’s considered a pretty big miss internally,” a person with knowledge of the situation told Bloomberg. The executives who are currently leading Apple's AI push are reportedly pushing to incorporate AI into as many Apple apps and products as possible. This includes an AI-led revamp of Siri, which could be ready by next year, as well as new features in Apple Music and development tools like Xcode. Apple did not immediately respond to a request for comment.Analysts think this could be a big deal Despite Apple being a little late to the game, Deepwater's Gene Munster thinks that an integration of AI across Apple's suite of products could be hugely successful. "Apple has the biggest opportunity among Big Tech to pioneer personalized AI because of their views on privacy and security," Munster wrote. "While personalized AI does not exist today, eventually you'll be able to ask an AI bot to help manage your life."Related: Artificial Intelligence is a sustainability nightmare - but it doesn't have to be An Apple chatbot, Munster said, could quickly eat up the market for personalized AI chatbots designed to help users with everything, including, for example, booking and budgeting a family vacation through integration across calendars. "I hope within the next year Apple begins to use the language of 'personalized AI' with investors," he said. Munster, noting that $1 billion equates to around 3% of the company's research and development budget, said that he wants to see Apple spend around five times more on developing personalized AI. Apple will report earnings on Nov. 2 — a significant indication of Apple's AI urgency, according to Munster, would be visible if the company finally mentions the term "artificial intelligence" on the call. Shares of Apple, up around 33% for the year, lifted slightly in pre-market trading. Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
Read more...
When ChatGPT launched nearly a year ago, the rest of Big Tech dove into what has since been dubbed the "AI arms race" in an attempt to develop and roll out artificially intelligent tech before any one firm dominates the market. Google (GOOGL) - Get Free Report, Meta (META) - Get Free Report and Microsoft (MSFT) - Get Free Report all raced to unveil generative AI assistants, while a litany of startups rushed to present a usable chatbot. Apple (AAPL) - Get Free Report, meanwhile, the biggest tech firm of the lot, has remained quiet on AI. During its new tech reveals throughout the year, the firm very purposefully avoided even mentioning the term AI, instead highlighting the term "machine learning" in discussing its new technological approaches. A July report, however, found that, behind closed doors, Apple was working frantically to develop its own ChatGPT competitor dubbed Ajax. Related: Apple Wants to Crash ChatGPT's Party -- Here's Why It Might Succeed The company is now on track to spend $1 billion annually on developing its generative AI products, according to a recent Bloomberg report. Apple executives were reportedly caught off guard by the sudden industry tilt toward AI. The company has since been frantic in its behind-the-scenes efforts to catch up to the competition. Apple unveiled the Vision Pro, a spatial computing headset that takes advantage of machine learning technology, in June. Justin Sullivan/Getty Images “There’s a lot of anxiety about this and it’s considered a pretty big miss internally,” a person with knowledge of the situation told Bloomberg. The executives who are currently leading Apple's AI push are reportedly pushing to incorporate AI into as many Apple apps and products as possible. This includes an AI-led revamp of Siri, which could be ready by next year, as well as new features in Apple Music and development tools like Xcode. Apple did not immediately respond to a request for comment.Analysts think this could be a big deal Despite Apple being a little late to the game, Deepwater's Gene Munster thinks that an integration of AI across Apple's suite of products could be hugely successful. "Apple has the biggest opportunity among Big Tech to pioneer personalized AI because of their views on privacy and security," Munster wrote. "While personalized AI does not exist today, eventually you'll be able to ask an AI bot to help manage your life."Related: Artificial Intelligence is a sustainability nightmare - but it doesn't have to be An Apple chatbot, Munster said, could quickly eat up the market for personalized AI chatbots designed to help users with everything, including, for example, booking and budgeting a family vacation through integration across calendars. "I hope within the next year Apple begins to use the language of 'personalized AI' with investors," he said. Munster, noting that $1 billion equates to around 3% of the company's research and development budget, said that he wants to see Apple spend around five times more on developing personalized AI. Apple will report earnings on Nov. 2 — a significant indication of Apple's AI urgency, according to Munster, would be visible if the company finally mentions the term "artificial intelligence" on the call. Shares of Apple, up around 33% for the year, lifted slightly in pre-market trading. Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
Read more...
TheStreet
Apple to invest more than $1 billion annually in lucrative new area
The $3 trillion company has the "biggest opportunity among Big Tech to pioneer" this avenue.