The recent surge in Tesla’s stock after news of progress toward launching their Full Self-Driving (FSD) feature in China may not be as significant as it seems. Mark Hawtin, the investment director at GAM Investment Management, believes that the excitement surrounding Tesla’s FSD capabilities is misleading. Contrary to popular belief, Tesla’s FSD service does not
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Coinbase, a leading marketplace in the U.S. for buying and selling digital tokens, recently reported its first-quarter earnings, exceeding analysts’ expectations. The company’s revenue of $1.64 billion surpassed the projected $1.34 billion, while earnings per share stood at $4.40 compared to the average estimate of $1.09. This impressive performance can be attributed to various factors,
Bitcoin, the world’s leading digital currency, experienced a sharp decline on Wednesday, dropping to its lowest level in over two months. The price of Bitcoin fell below $57,000 for the first time since February 28, reaching as low as $56,757.93. This significant drop of 6.3% brought Bitcoin’s price down to $57,505.24. Additionally, other popular cryptocurrencies
Amazon is set to release its first-quarter earnings report after the closing bell on Tuesday. According to LSEG, analysts are expecting earnings per share of 83 cents and revenue of $142.5 billion. This report will provide insight into several key areas, including: – Amazon Web Services revenue of $24.5 billion – Advertising revenue of $11.7
Tesla’s shares saw a significant increase in U.S. premarket trading following the announcement that the electric car company had reached a major milestone in the rollout of its full self-driving technology in China. This news comes after Tesla CEO Elon Musk’s visit to China, where the company revealed that local authorities had lifted restrictions on
In the rapidly evolving landscape of cloud technology, Oracle has taken a significant step forward by enhancing its generative AI capabilities. With the emergence of AI-driven solutions like chatbot ChatGPT in November 2022, the demand for cloud computing services has surged. This has compelled Oracle to integrate generative AI features into its existing infrastructure and
The tech industry has recently experienced a wave of layoffs despite the blockbuster earnings reported by big players like Alphabet and Microsoft. In 2023 alone, more than 263,000 jobs were lost, and by April 2024, the number had already reached 75,000. This trend of job cuts has raised concerns among industry experts like Jeff Shulman
As we reflect upon the tumultuous year of 2022, marked by brands cutting back on advertising expenditure due to inflation, and the subsequent challenges faced in the year 2023 with layoffs and cost reductions, we witness a surprising turnaround in the fortunes of leading digital advertising companies. Meta, Snap, and Google recently released their first-quarter
Former Tesla executive Drew Baglino recently announced his resignation from the electric vehicle company. Along with his departure, it was revealed that Baglino sold shares in Tesla worth approximately $181.5 million. This news came from a filing with the SEC, indicating that Baglino is parting ways with about 1.14 million shares of the company. The
The recent Meta earnings call started with Mark Zuckerberg discussing the advancements in artificial intelligence. Moving on to the metaverse, he highlighted the company’s headsets, glasses, and operating system. Surprisingly, the majority of his opening remarks were centered around the various ways Meta is losing money. Despite reporting better-than-expected profit and revenue for the first