tech
Chewy (NYSE: CHWY) stock price has had a tumultuous stay as a publicly traded company. Its stock surged from below $30 before the Covid-19 pandemic and reached a record high of $120 in 2021 as demand for e-commerce surged. Chewy’s business is improvingSince then, like other pandemic winners, the stock went on a deep sell-off, bottoming at $14.72 in May. Recently, the stock has rebounded by over 75% after the company published encouraging financial results. Chewy, the biggest company in the pet food industry, said that its quarterly revenue rose by 3.1% to $2.8 billion. Its gross margin rose sl...
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Accenture (NYSE: ACN) stock price has nosedived since March as investors focus on the upcoming earnings. It has dived by more than 26% from its highest point this year, meaning that it has moved into a deep bear market. Other IT consulting companies like Infosys and Wipro have also dived. Accenture earnings aheadAccenture, one of the biggest consulting companies in the world, will be in the spotlight on Thursday as it delivers its quarterly results. These results will provide more information about the state of IT spending globally. The most recent financial results showed that its new booking...
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Nvidia emerged as the world’s most valuable company as its share price reached a record high on Tuesday. Nvidia share price trailed high over 3% on Tuesday making the chip maker the world’s most valuable company, dethroning tech giant Microsoft. The stock rose 3.5% to $135.58, lifting its market capitalization by over $110 billion to $3.335 trillion, just days after overtaking iPhone maker Apple to become the second most valuable company. The company makes computer chips needed for Artificial Intelligence (AI) software, and demand for its products has boosted its sales and profits over the las...
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PayPal (NASDAQ: PYPL) stock price has remained under intense pressure in the past few weeks as concerns about competition continued. It has plummeted for six straight weeks as it moved to the lowest level since March 11th. PayPal’s woes are risingPayPal, a company that was once popular among investors, has become a fallen angel as its growth slows and competition mounts. This view was confirmed in April when the company published relatively weaker financial results than expected. Its revenue rose by 9% in the first quarter to $7.7 billion as the total payment volume increased by 14% to $403 bi...
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Arm Holdings PLC (NASDAQ: ARM) has gained more than 150% since the start of this year but a Bank of America analyst expects the rally to further in the coming months. Arm stock has upside to $180Vivek Arya reiterated his “buy” rating on the chip designer and raised his price objective this morning to $180 which translates to about a 13% upside on its previous close. The Bank of America analyst is bullish on Arm stock primarily because the British multinational is stealing market share from the likes of Intel and even Advanced Micro Devices (AMD). He sees ARM shares as well positioned for furth...
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Autonomous trucking startup Waabi announced on Tuesday it has raised $200 million in an oversubscribed Series B funding round. This round was led by existing investors Uber and Khosla Ventures, and included new investor Nvidia, along with Porsche and the venture capital arm of Volvo. Waabi’s approach to autonomous truckingMany companies are developing self-driving vehicles, but Toronto-based Waabi believes too many developers rely on human-driven scenarios. Waabi takes a different approach by using generative AI to build a single AI system capable of reasoning like humans and coming up with pr...
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Apple, the tech giant known for its innovations, appears to be shifting its focus within its Vision product line. Originally planning to split the Vision line into two models — a high-end “Pro” model and a more affordable standard version — Apple is now reportedly deprioritizing the next generation of the Vision Pro headset. Changing priorities for the Vision ProIn the past year, Apple has gradually assigned fewer employees to the Vision Pro project. The company initially focused on reducing the cost of the first-generation model’s components and developing an upgraded display for the subseque...
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Qualcomm Inc (NASDAQ: QCOM) is gaining in premarket on Tuesday following a report that Samsung Electronics Co Ltd (KRX: 005930) plans on switching entirely to chips made by the California based company. Samsung Galaxy S25 to use QCOM chipsSamsung will exclusively use QCOM’s next-gen chipset in its upcoming Galaxy S25, says Ming-Chi Kuo – a renowned tech analyst of TF Securities. Kuo made the revelation first this morning on X.com. Qualcomm will likely be the sole SoC supplier for the Samsung Galaxy S25 (vs 40% for the S24), as the Exynos 2500 may not ship due to Samsung’s lower-than-expected 3...
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Apple Inc. is reportedly close to resolving a longstanding investigation by the European Commission (EC) concerning its tap-and-go payment platform, Apple Pay. The EC had accused Apple in 2022 of breaking competition laws by limiting access to its contactless payment technology. Apple will avoid a potentially hefty fine by making a series of concessions to allow rivals greater access to its near-field communication (NFC) technology. The investigation and its implicationsThe European Commission’s probe into Apple Pay began in 2020, focusing on whether Apple’s practices were stifling competition...
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Palantir (NYSE: PLTR) stock price has jumped sharply this week after receiving a rating upgrade from Argus analysts. It soared by over 6% and reached its highest level since May 6th. It has jumped by more than 318% from the lowest point in 2023, giving it a market cap of over $52 billion. Analysts are pessimisticPalantir Technologies shares have jumped sharply in the past few months, helped by the rising defense spending and artificial intelligence (AI) investments. It has also started to gain more commercial clients who are interested in its AI solutions. The most recent results revealed that...
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