Bank of America has raised its price target on Apple to $256 from $230, indicating a strong vote of confidence in the tech giant. Analyst Wamsi Mohan believes that Apple is poised for success ahead of a new iPhone cycle, with a significant portion of its user base planning to upgrade to products with AI
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In the second quarter, Apple lost its position in the top five smartphone vendors in China due to fierce competition from domestic brands like Huawei. Apple’s market share dropped to 14%, a decline from 15% in the previous quarter and 16% from the same period last year. This marks a significant shift as Apple, once
The Nikkei 225 in Japan extended its losing streak to six straight days, experiencing a significant 3% drop. This decline was part of a widespread sell-off in Asian markets following a sharp decline in Wall Street. The heavyweights of the Nikkei, such as SoftBank Group and Renesas Electronics, experienced substantial losses, with the broader Topix
Britain’s King Charles III is set to receive a significant pay raise of £45 million ($58 million) after profits at The Crown Estate more than doubled, reaching a staggering £1.1 billion ($1.4 billion) in 2023-24. These bumper profits have paved the way for a substantial increase in the taxpayer-funded Sovereign Grant, which supports the official
Wiz, a rapidly growing cloud security company, has shocked the tech world by walking away from a $23 billion deal to be acquired by Google. This decision, the largest-ever deal for Google, was announced in a memo to employees by Wiz co-founder Assaf Rappaport. The move was motivated by a combination of antitrust concerns and
The Asia-Pacific markets experienced a decline on Monday due to various factors impacting investor sentiment. The unexpected news of U.S. President Joe Biden dropping out of the presidential race and endorsing Vice President Kamala Harris as the Democratic nominee caused uncertainty in the markets. The subsequent rate cuts by China’s central bank added to the
In recent years, Berkshire Hathaway has been actively engaging in share buybacks as part of Warren Buffett’s strategy to reward long-term shareholders. This move has seen the conglomerate reduce a significant portion of its share count, amounting to nearly $75 billion worth of repurchases over the past five and a half years. Warren Buffett, widely
As the world is still trying to recover from the chaos caused by the faulty software update from CrowdStrike, malicious actors are taking advantage of the situation. Government cybersecurity agencies worldwide, including CrowdStrike CEO George Kurtz, are warning about new phishing schemes emerging post the outage. Attackers are pretending to be CrowdStrike employees or tech
An update released by cybersecurity firm CrowdStrike resulted in a significant outage on Friday, impacting businesses globally. CrowdStrike has since acknowledged the issue and is currently working on rolling back the update that triggered the problem. It is important to note that the outage was not the result of a hack or any malicious activity.
Germany is planning to decrease the funds allocated for strengthening partner states in the areas of security, defense, and stabilization in its 2025 budget. The draft budget shows a significant cut from 7.5 billion euros in 2024 to 4 billion euros in 2025, indicating a shift in priorities regarding international support. This reduction could have