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Hedge funds sold broader tech ahead of SpaceX IPO, JPMorgan data shows
Reuters55d agoneutral
Hedge funds sold broader tech ahead of SpaceX IPO, JPMorgan data shows

Hedge funds sold out of the biggest U.S. tech stocks, and some even added ‌bearish positions, according to data from a JPMorgan note late ‌Thursday, just before SpaceX was set to go public on Friday. Shares in the "Magnificent Seven" -- ​a group that includes some of the biggest tech names on Wall Street, namely Nvidia, Apple, Amazon.com, Alphabet, Meta, Tesla, and Microsoft, have all declined since last Friday. The Roundhill Magnificent Seven ETF, which tracks these ‌stocks closely, declined over 2.4% ⁠since June 5, with some analysts saying investors were clearing their decks in order to prepare for the ⁠debut of Elon Musk's Space X on Friday.

Bloomberg56d agoneutral
DoorDash Built an AI Chatbot to Help With Orders, Reservations and Grocery Lists

(Bloomberg) -- DoorDash Inc. introduced an in-app artificial intelligence chatbot to help customers make restaurant and grocery orders, and suggested the technology could also be used to unlock new enterprise revenue streams.Most Read from BloombergXbox Plans Significant Layoffs as New CEO Plans OverhaulHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’US Strikes Iran in Trump Escalation Over Stalled Peace TalksOracle Falls Most in Six Months on Mounting Data Center CostsTech Stocks S

Retail Investors Are Selling Stocks to Raise Money for SpaceX
The Wall Street Journal56d agobearish
Retail Investors Are Selling Stocks to Raise Money for SpaceX

Retail investors are clearing the decks ahead of the SpaceX IPO. For two straight days this week, ordinary investors dumped their single-stock holdings on a net basis, according to Vanda Research. The moves suggests that mom-and-pop investors are amassing dry powder ahead of SpaceX's anticipated public debut tomorrow.

Citigroup Is Rolling Out Tokenized Shares of Private Companies
The Wall Street Journal56d agoneutral
Citigroup Is Rolling Out Tokenized Shares of Private Companies

Citigroup is establishing a way for its wealthy and institutional clients to trade shares of private companies through a blockchain, a venture it hopes will be adopted by other banks across Wall Street. The bank said it is in discussions with some of the largest private companies to get involved. The venture is intended to broaden access to private firms at the same time companies are taking longer to go public, and Wall Street has been in a frenzy over the coming blockbuster stock-market debuts of SpaceX, Anthropic and others.

Morgan Stanley revamps Apple stock target after key event
TheStreet57d agoneutral
Morgan Stanley revamps Apple stock target after key event

Apple (AAPL) has spent the bulk of the past couple of years trying to convince investors it has not fallen behind in the relentless AI race. Morgan Stanley buys that story. According to TheFly, the firm reset its price target on Apple stock after WWDC 2026, saying the event gave investors a sharper ...

A glossary to help understand what happens in an initial public offering
Associated Press57d agoneutral
A glossary to help understand what happens in an initial public offering

Anyone following SpaceX's plans to sell shares to the public is likely to hear terms thrown around that describe steps and components of an initial public offering. It is the first time a company's value will be determined by a public market. For example, Apple is traded as “AAPL” on the Nasdaq and Macy's is traded as “M” on the New York Stock Exchange.

Apple Will Run Advanced AI Model on Nvidia GPUs via Google Cloud, Ditching Private Infrastructure
24/7 Wall St.58d agoneutral
Apple Will Run Advanced AI Model on Nvidia GPUs via Google Cloud, Ditching Private Infrastructure

Apple (NASDAQ:AAPL), the most vertically integrated company in tech, is turning to Nvidia and Google Cloud to power its most advanced AI workloads. According to CNBC’s MacKenzie Sigalos, Apple software chief Craig Federighi confirmed that the company’s new frontier language model, FM Cloud Pro, will run on Nvidia GPUs hosted in Google Cloud for agentic ... Apple Will Run Advanced AI Model on Nvidia GPUs via Google Cloud, Ditching Private Infrastructure

Elon Musk Just Created $26 Billion a Year for SpaceX Days Before the IPO
24/7 Wall St.58d agoneutral
Elon Musk Just Created $26 Billion a Year for SpaceX Days Before the IPO

The market is gearing up for a SpaceX IPO on June 12, and it feels like yesterday that the business confidentially filed for its IPO. That was on April 1 this year. You would expect quiet action since then, but the space-AI hybrid is accelerating before the ticker goes live. SpaceX has signed two monster ... Elon Musk Just Created $26 Billion a Year for SpaceX Days Before the IPO

Prominent Tech Investor: ‘When We Were Buying Nvidia in 2023, We Were Paying 4 Times Earnings’
24/7 Wall St.58d agobullish
Prominent Tech Investor: ‘When We Were Buying Nvidia in 2023, We Were Paying 4 Times Earnings’

Alex Sacerdote, founder of Whale Rock Capital, dropped a line on a recent Invest Like the Best episode that stopped listeners cold: “When we were buying Nvidia in 2023, we were paying 4 times earnings. When we bought Tesla in 2019 for the car S-curve, we were paying 5 times earnings. When we were owning ... Prominent Tech Investor: ‘When We Were Buying Nvidia in 2023, We Were Paying 4 Times Earnings’

No tech rule exemption for Apple, EU regulators say amid spat over Siri AI delay
Reuters58d agoneutral
No tech rule exemption for Apple, EU regulators say amid spat over Siri AI delay

BRUSSELS, June 9 (Reuters) - EU regulators on Tuesday slammed Apple for blaming EU tech rules for its decision ‌not to roll out its upgraded assistant Siri AI in the European ‌Union for now, saying they had rejected the company's request for an 18-month exemption from its obligations. The ​iPhone maker on Tuesday said Siri AI would not be available initially in the EU on iPhones or iPads and faulted the European Commission for refusing to engage constructively with them to ensure privacy and se

Apple's AI Siri will be held back by aging devices, Morgan Stanley says
Reuters58d agoneutral
Apple's AI Siri will be held back by aging devices, Morgan Stanley says

Apple's newly introduced AI Siri will have limited use across much ‌of the company's install base because ‌older iPhones lack the capabilities to run advanced AI ​features, Morgan Stanley said in a research note on Tuesday. More than 850 million iPhones are incapable of running basic Apple Intelligence queries, and ‌more than 1.3 ⁠billion iPhones cannot use advanced Siri features, the brokerage said. The long-delayed Siri ⁠overhaul was the centrepiece of Apple's annual Worldwide Developers Conference on Monday, with the world's ​most valuable ​smartphone maker betting ​on the feature to ‌keep pace with rivals including OpenAI's ChatGPT, Google's Gemini and Anthropic's Claude.

Stocks Are Flirting With a Dangerous Valuation Trap
Barrons.com58d agoneutral
Stocks Are Flirting With a Dangerous Valuation Trap

What hasn’t really moved, however, is the longer end of the bond market, where yields remain elevated and forecasts for Federal Reserve rate hikes are getting increasingly aggressive following last week’s stronger-than-expected payroll data, and ahead of Wednesday’s May inflation readings. The higher yields, which have for the most part echoed market bets on a Fed rate hike before the end of the year, now priced at around 70% by the CME Group’s FedWatch, also seem to be resetting at levels that could make stock markets uncomfortable. Its closest comparison in the bond markets, the yield on 3-month Treasury bills, is holding at around 3.7%.

Why Apple's WWDC and Siri AI hype left investors sad
Yahoo Finance58d agoneutral
Why Apple's WWDC and Siri AI hype left investors sad

Apple's stock declined almost 2% on the first day of Apple CEO Tim Cook's final Worldwide Developers Conference (WWDC). The reason was more perceived letdown on the artificial intelligence front, which reawakened chatter that Apple won't dominate in the AI era.

Apple answers Wall Street’s biggest AI concern
TheStreet59d agoneutral
Apple answers Wall Street’s biggest AI concern

Apple is trying to reset the conversation around its place in the artificial intelligence race. The iPhone maker on June 8 unveiled the next generation of Apple Intelligence, including a new and more powerful Siri AI, deeper AI features across its devices, expanded parental controls, and software ...

Apple Investors Tepid About New AI Platform
Bloomberg59d agoneutralVIDEO
Apple Investors Tepid About New AI Platform

Apple investors gave a tepid reception to the next generation of its AI platform. The new Apple Intelligence system, underpinned by Google technology, was unveiled during a keynote presentation at the company's Worldwide Developers Conference. Ed Ludlow reports on "Bloomberg The Close."

Bloomberg59d agoneutral
Trump’s $100,000 H-1B Visa Application Fee Rejected by Judge

(Bloomberg) -- A federal judge struck down a $100,000 fee President Donald Trump ordered for H-1B visa applications, providing a reprieve for US technology companies that rely on hiring skilled foreign workers.Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’LA Mayor Race Flips as Socialist Beats Reality TV Star PrattTrump Says He, Not Congress, Is in Charge of Kennedy Center in ReversalWhy Oil’s Not at $200 After the Biggest Supply Shock in HistoryIsrael Stri