It was an overwhelming week for Apple, to say the least, as the iPhone maker saw its fortunes whipsaw throughout the week—becoming the world’s most valuable company, briefly exceeding the $5 trillion market capitalization mark, and then suffering one of the biggest single-day declines in its history after issuing a cautious outlook. Investors had increasingly
Nvidia stock (NVDA) rose on Friday after Amazon reaffirmed its commitment to the chipmaker’s artificial intelligence processors and increased its capital spending plans, reinforcing investor confidence in continued demand for AI infrastructure. The stock gained 2.6% to $199.07 in midday trading, building on Thursday’s more than 2% advance. The rally put Nvidia on track to
Oil prices fell on Friday as signs of improving tanker traffic through key Middle East waterways encouraged traders to lock in profits after a volatile week. Brent crude dropped $1.03, or 1.2%, to $88 a barrel by 0215 GMT, while West Texas Intermediate declined $1.50, or 1.8%, to $82.09. Even after the pullback, both benchmarks
XRP price briefly climbed to $1.10 before easing back as steady ETF inflows and Aviva Investors’ tokenized fund launch on the XRP Ledger have continued to support buying interest despite persistent technical resistance. According to SoSoValue data, US spot XRP exchange-traded funds recorded $584,000 in net inflows on July 29, ending a three-day streak of
The FTSE 100 Index jumped to a record high this week as several important companies like IAG, NatWest, Lloyds, and Rolls-Royce published their financial reports and the Bank of England (BoE) delivered its interest rate decision. It soared to 10,976, up by 13.4% from its lowest level this year. This article looks at some of
Micron Technology (NASDAQ: MU) has received an unlikely boost from Apple after Tim Cook described the surge in memory prices as a “100-year flood.” The remarks strengthened the argument that today’s shortage reaches beyond artificial-intelligence data centres. Apple’s chief executive said exponential memory-cost increases had contributed to reluctant price rises. Apple paid more for memory
Meta Platforms (META) shares are slipping in extended hours on Wednesday as investors react to a messy Q2 earnings release that reignited aggressive spending fears. The giant’s revenue reached $60.80 billion – up a better-than-expected 28% year-on-year – but its per-share profit at $6.18 failed to meet consensus estimates. Net income came under pressure as
Microsoft exceeded Wall Street expectations for its fiscal fourth quarter as stronger-than-expected Azure cloud growth and rising adoption of its artificial intelligence products helped ease investor concerns over the company’s massive spending on AI infrastructure. Shares of Microsoft MSFT rose about 3.5% in extended trading after the results were released, with investors responding positively to
Qualcomm (QCOM) shares are inching lower in extended hours after the company reported fiscal Q3 results that reflected persistent semiconductor supply constraints. The company based out of San Diego, CA earned $2.21 per share in its third financial quarter, less than $2.23 that analysts had called for, as net income tumbled 25% year-on-year to $2
Meta Platforms and asset manager BlackRock announced on Tuesday a venture to develop and operate a data center campus in El Paso, Texas. The project is expected to cost about $14 billion in development. The partnership comes as technology companies accelerate spending on artificial intelligence infrastructure. The growing scale of investment in AI data centers