Times are tough even for the giants of Silicon Valley that are accustomed to big profits. In recent months, the storm on the financial markets has particularly shaken the Nasdaq index, which is dominated by technology groups. Investors fearing a recession are liquidating their positions in risky assets. This particularly affects tech, which lives mainly … Read more
Micron Technology Inc. delivered an outlook that fell far short of the consensus view, prompting questions about how the memory market will fare in a downturn. The company expects August-quarter revenue of $6.8 billion to $7.6 billion, whereas analysts tracked by FactSet had been modeling $9.15 billion. Micron’s chief executive acknowledged that “the industry demand … Read more
Sign up for CNN’s Wonder Theory science newsletter. Explore the universe with news on fascinating discoveries, scientific advancements and more. CNN — Exploring beneath the surface of other planets may be the key to determining whether life has ever existed outside of Earth. As other missions, including that of NASA’s InSight lander, have shown, drilling … Read more
An employee arranges Apple iPhones as customer shop at an Apple store. Mike Segar | Reuters The last time Apple faced an inflationary environment like this, it had been a public company for less than a year and its best-selling product was the Apple II home computer. In May, the annual inflation rate in the … Read more
1. Macroeconomic pressure During the quarter, the U.S. Federal Reserve carried out two aggressive interest rate hikes to battle rampant inflation. That has sparked fears of a recession in the U.S. and other countries. It has also hit stocks, in particular high-growth technology names. The tech-heavy Nasdaq Composite is down 22.4% for the second quarter, … Read more
LightSail 2 spacecraft captured this image on June 11, 2022, which shows Madagascar and a portion of Mozambique.Image: The Planetary Society For the past three years, a tiny loaf-of-bread-sized spacecraft with gigantic wings has been sailing on sunbeams in low Earth orbit. LightSail 2 has far exceeded its life expectancy and proven that solar sails … Read more
As long Michael Saylor is around, Bitcoin will never walk alone. The billionaire co-founder and CEO of MicroStrategy (MSTR) – Get MicroStrategy Incorporated Report, and four-alarm Bitcoin evangelist has taken the concept of HODL — sometimes known as “hold on for dear life” — to the stratosphere. Bitcoin Under Pressure This is a challenging time … Read more
Text size Amazon has created what is arguably one of the world’s best growth businesses. Thomas Samson/AFP via Getty Images Amazon Web Services just might be the most valuable business on Earth. And the most undervalued. Clearly, the optimistic view of the long-term potential of AWS isn’t reflected in the current valuation for Amazon.com stock … Read more
It was the Summer of Love for cryptocurrency. On June 29, 2021, Coinbase Global (COIN) – Get Coinbase Global Inc Report and Voyager Digital (VYGVF) – Get Voyager Digital Ltd Report both had their market debuts. Coinbase shares soared on that first day and finished at $328.28, well above the reference price of $250 set the … Read more
Robinhood Markets , which revolutionized the online brokerage industry, could be in play now that interest from cryptocurrency exchange FTX was made public. This is could spur other potential bidders for Robinhood in what could be one of the year’s most anticipated transactions. Sam Bankman-Fried, founder and CEO of FTX, said Monday that he was … Read more