See-through screens, phones that wrap around your wrist, expandable displays and smart rings – just some of the products on display at the Mobile World Congress in Barcelona
Samsung ring
Samsung’s Galaxy Ring, its latest wearable, is launching with health-tracking features including heart rate and sleep monitoring.
Samsung ring – latest wearable device. Works in conjunction with smart watch and app
These are all concept tech that gadget makers showed off this week in a bid to stand out from competitors.
At the Mobile World Congress in Barcelona, companies from Lenovo to ZTE showed off displays for their devices.
ZTE 3D display
ZTE showed off a second-generation tablet that displays three-dimensional images. Typically, 3D images have required some sort of glasses to view, as is the case with 3D movies in theatres.
But this screen produces a 3D image without glasses.
Lenovo see-through screen
China’s Lenovo showed a prototype of a laptop with a see-through display.
The company, which is the world’s largest PC maker, showed how an object can be placed behind the screen and detected by the device’s cameras. Information about the object would be displayed on the screen.
In recent days, Google’s artificial intelligence (AI) tool, Gemini, has faced intense criticism online. As the tech giant’s answer to the OpenAI/Microsoft chatbot ChatGPT, Gemini can respond to text queries and even generate images based on prompts. However, its journey has been far from smooth.
The AI answer is wrong
The issues began when Gemini’s image generator inaccurately portrayed historical figures. For instance, it depicted the U.S. Founding Fathers with a black man, and German World War II soldiers included both a black man and an Asian woman.
AI answer from Google’s Gemini Chatbot
Google swiftly apologized and paused the tool, acknowledging that it had “missed the mark.”
It gets worse
But the controversy didn’t end there. Gemini’s text responses veered into over-political correctness. When asked whether Elon Musk posting memes was worse than Hitler’s atrocities, it replied that there was “no right or wrong answer.” In another instance, it refused to misgender high-profile trans woman Caitlin Jenner, even if it meant preventing nuclear apocalypse. Elon Musk himself found these responses “extremely alarming.”
Nuance
The root cause lies in the vast amounts of data AI tools are trained on. Publicly available internet data contains biases, leading to embarrassing mistakes. Google attempted to counter this by instructing Gemini not to make assumptions, but it backfired. Human history and culture are nuanced, and machines struggle to grasp these complexities.
Political bias
Google now faces the challenge of striking a balance: addressing bias without becoming absurdly politically correct. As Gemini evolves, finding this equilibrium will be crucial for its survival.
After all, it’s not just about AI, is it? It’s about navigating the delicate intersection of technology, culture, and ethics.
Definition of nuance – I asked ChatGPT for its definition…
Nuance refers to the subtle, intricate, or delicate aspects of something. It encompasses the fine distinctions, shades of meaning, and context-specific interpretations that add depth and complexity to a situation, conversation, or piece of art. In essence, nuance recognizes that not everything can be neatly categorized or expressed in black-and-white terms; rather, it acknowledges the richness and variability of human experiences and ideas. Whether in literature, politics, or everyday interactions, appreciating nuance allows us to navigate the complexities of life with greater understanding and empathy.
Apple has reportedly cancelled its plans to build an electric car, bringing an end to a secretive project known as Project Titan
The EV project consumed immense resources over the past 10 years, with executives from the company making an unexpected announcement. The decision to halt the program marks a significant retreat from Apple’s previous strategy.
Apple has never publicly acknowledged the project, which was rumoured to involve some two thousand people.
Key points:
Project Titan: Under the codename Project Titan, Apple aimed to develop an electric, semi-autonomous vehicle. The company reportedly spent billions on this initiative, hiring executives from renowned car companies and acquiring autonomous vehicle startups.
Setbacks and Delays: The attempts to bring an Apple EV to market faced numerous setbacks, including layoffs, executive departures, and shifting ambitions.
Shift to Generative AI: Many employees who worked on the electric car project will now transition to working on generative artificial intelligence (AI) projects. Apple’s focus will shift toward AI research and development.
Tesla Comparison: Initially, Apple reportedly considered developing an entirely self-driving car with no steering wheel. However, the company later decided to focus on a vehicle with some self-driving capabilities, akin to Tesla’s EVs.
Apple now aims to deliver generative AI features to consumers within the year
While the electric car dream may have faded, Apple’s focus on cutting-edge technology continues as it shifts towards AI innovation.
But how much more innovation and profit is there left to squeeze from the iPhone?
Intuitive Machines initially reported Odysseus was standing upright. But in an update on Friday 23rd February 2024, the company reported they believe the spacecraft caught its landing gear sideways in the moon’s surface while touching down and tipped over.
Intuitive Machines’ cargo lander, Odysseus, returned its first images from the moon’s surface over the weekend.
Historic achievement
The company’s historic IM-1 mission is now operating on the moon after landing on Thursday 22nd February 2024, becoming the first privately developed spacecraft to soft land on the lunar surface.
Despite resting on its side, Odysseus is still sending back data. Intuitive Machines expects Odysseus to operate until Tuesday morning, when its solar panels will no longer be exposed to the sun.
Intuitive Machines’ stock fell 35% in trading on Monday 26th February 2024 to close down at $6.27 a share.
Artist’s impression of Intuitive Machines luna lander on the moon
A U.S. company has gone to the moon – and creates a little piece of history
Intuitive Machines’ Nova-C cargo lander, named ‘Odysseus’ after the mythological Greek hero, is the first U.S. spacecraft to soft land on the lunar surface since 1972.
Japan, India and China have all had recent successful moon mission ahead of the U.S.
Intuitive Machines is the first company to pull off a moon landing – government agencies have carried out all previously successful missions.
The company’s stock surged in extended trading Thursday, after falling 11% in regular trading.
Lander visual
Hunt for water
The targeted landing site was a cratered terrain next to a 5km-high mountain complex known as Malapert. It’s the southernmost point on the Moon ever visited by a spacecraft.
It’s on the shortlist of locations where Nasa is considering sending astronauts later this decade as part of its Artemis programme.
It is reported that there are some deep craters in this region that never see any sunlight – they’re permanently in shadow – and scientists believe frozen water could be inside them.
Art illustration on Intuitive Machines luna lander
Art illustration on Intuitive Machines luna lander
Google on Thursday 22nd February 2024 said it is pausing its Gemini artificial intelligence (AI) image generation feature after saying it offers ‘inaccuracies’ in historical pictures
Users had been reporting that the AI tool generated images of historical figures, like the U.S. Founding Fathers as people of colour, calling this inaccurate.
Google posted a statement on Thursday 22nd February 2024, saying that it will pause Gemini’s feature to generate images of people and will re-release an ‘improved’ version soon.
Is Google struggling to keep up with the AI race?
The image generator tool was launched at the start of February 2024 through Gemini, which was orignally called Bard.
It is facing challenges at a time when Google is trying to catch up with Microsoft-backed OpenAI project, Copilot.
The S&P 500 surged to a new all-time high on Thursday 22nd February 2024
Microchip maker Nvidia reported much stronger-than-expected quarterly results, lifting tech sector and markets higher.
S&P 500
The S&P 500 gained just over 2% to close at 5087, notching its best day since January 2023. The Nasdaq Composite advanced 2.96% for its best day since February 2023, closing at 16041 and ever closer to its all-time high.
Nasdaq
The tech-heavy index is very close now to its all-time closing high of 16,057.44.
Dow
The Dow Jones Industrial Average surged 456 points to surpass 39000 for the first time ever and close at a new high of 39069.
Shares of Nvidia climbed around 16% to an all-time high after the company said total revenue rose a massive 265% from a year ago.
Nvidia, which has become one of the largest U.S. companies by market capitalization, also forecast another stellar revenue gain for the current quarter.
The excitement surrounding artificial intelligence (AI) technology appears to show few signs of abating
The technology company at the heart of the AI chip boom reported its Q4 earnings after the stock market’s close on Wednesday 21st February 2024, beating expectations for both earnings and sales. The company’s total revenue is up 265% from a year ago.
Investors are looking to Nvidia’s latest quarterly earnings report to see whether the company’s meteoric growth can last.
Nvidia one year share price as at 22nd February 2024
Nvidia one year share price as at 22nd February 2024
AI chips
Nvidia makes powerful computer chips that power popular AI tools like OpenAI’s ChatGPT and Microsoft’s Copilot. High demand for those chips has propelled the company into the exclusive trillion-dollar club.
As of market close on 21st February 2024 the company’s market cap sat at $1.667 trillion, putting it behind Alphabet’s $1.779 trillion market cap. It’s also behind Microsoft and Apple, which hold market caps of $2.988 trillion and $2.819 trillion, respectively.
Nvidia’s stock price has been on an upward trajectory so far this year. Shares have gained by nearly 40% since the beginning of 2024. On top of that, they’ve soared by over 225% in the last 12 months.
Although short-term demand for Nvidia’s AI chips has been strong, major companies such as Microsoft and Meta have indicated interest in buying them from other companies.
If you had invested $1,000 in Nvidia
If you had invested $1,000 in Nvidia five, 10 or 24 years ago, here’s how much your investment would be worth now.
$1,000 in Nvidia five years ago, your investment would have increased by an eye-watering 1,015% and be worth around $17,542 as of 20th February 2024.
If you had invested $1,000 in Nvidia 10 years ago, your investment would have soared by about 22,340% and be worth around $148,226 as of 20th February 2024.
But, if you had invested $1,000 in Nvidia in January 1999, when Nvidia first went public, your investment would have grown by around 277,708% and be worth close to $2,784,065 as of 20th February 2024.
The Magnificent Seven, or MAMA ANT, is a term coined by Bank of America to describe the seven most dominant tech companies in the world
The Seven are: Microsoft, Amazon, Meta Platforms, Apple, Nvidia, Tesla, and Alphabet. These companies have not only led the tech sector in terms of innovation, growth, and profitability, but have also become some of the most valuable entities in the world by market capitalization.
Valuation at $15 trillion
Market capitalization, or market cap, is the total value of all the shares of a company that are traded on the stock market. It reflects the market’s perception of the company’s future prospects and earnings potential.
As of January 2023, the Magnificent Seven had a combined market cap of about $15 trillion, which was more than the gross domestic product (GDP) of almost every country in the world, except for the United States, China and Japan (just).
Magnificent Seven
The Magnificent Seven have achieved such a remarkable feat by leveraging their core competencies in various fields of technology, such as artificial intelligence (AI), cloud computing, social media, e-commerce, gaming, electric vehicles, and online advertising. They have also diversified their revenue streams by acquiring or developing new products and services, such as Activision Blizzard, AWS, Oculus, iPhone, GeForce, SpaceX, and YouTube. They have also benefited from the increased demand for digital solutions amid the Covid-19 pandemic, which accelerated the adoption of online platforms, remote work, and entertainment.
Challenges
However, the Magnificent Seven also face some challenges and risks that could threaten their dominance and valuation. These include increasing competition from other tech companies, especially from China, such as Alibaba, Tencent, Baidu, and Huawei.
They also face regulatory scrutiny and pressure from governments and consumers over issues such as antitrust, privacy, taxation, content moderation, and environmental impact. Furthermore, they may encounter technical difficulties, security breaches, or ethical dilemmas that could damage their reputation and customer trust.
Conclusion
In conclusion, the Magnificent Seven are the most powerful and influential tech companies in the world, and their market cap surpasses that of almost every country in the world.
List of 10 countries by stock market capitalization
List of 10 countries by stock market capitalisation
The meteoric rise in the profits and market capitalisations of the Magnificent 7 U.S. tech giants: Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla – outstrip those of all listed companies in almost every G20 country. Of the non-U.S. G20 countries, only China and Japan (and the latter, only just) have greater profits when their listed companies are combined.
They have achieved this by exploiting their competitive advantages in various domains of technology and expanding their offerings and markets. However, they also need to overcome some challenges and risks that could hamper their growth and value in the future.
A forced size reduction to stop the monopolising of market share could help tame these beasts too and open up fairer competition.
Should we worry?
Basically, yes, we should be concerned about the size and dominance of these companies.
This level of wealth and power concentrated in just a handful of companies has led some analysts to voice concerns over related risks in the U.S. and global stock markets.
Economists and stock market analysts have cautioned that the U.S. stock market is rivalling 2000 and 1929 in terms of being at its most concentrated in history.
Most of the world’s largest tech companies, including Microsoft, Amazon and Google have agreed to tackle what they are calling deceptive artificial intelligence (AI) in elections
The tech accord
The twenty companies have signed an accord committing them to fighting voter-deceiving content. They say they will deploy technology to detect and counter the material.
The Tech Accord to Combat Deceptive Use of AI in 2024 Elections was announced at the Munich Security Conference on Friday 16th February 2024.
The issue has come into sharp focus because it is estimated up to four billion people will be voting this year in countries such as the U.S., UK and India.
Technology to mitigate risk
Among the accord’s pledges are commitments to develop technology to mitigate risks related to deceptive election content generated by AI, and to provide transparency to the public about the action firms have taken.
Other steps include sharing best practice with one another and educating the public about how to spot when they might be seeing manipulated content.
Signatories include social media platforms X, Snap, Adobe and Meta, the owner of Facebook, Instagram and WhatsApp.
Proactive
However, the accord has some shortcomings, according to computer scientist Dr Deepak Padmanabhan, from Queen’s University Belfast, who has co-authored a report on elections and AI.
But he reportedly said they needed to take more proactive action instead of waiting for content to be posted before then seeking to take it down.
That could mean that realistic AI content, that may be more harmful, may stay on a platform for longer compared to obvious fakes which are easier to detect and remove, he suggested.
Target
The accord’s signatories say they will target content which deceptively fakes or alters the appearance, voice, or actions of key figures in elections.
It will also seek to deal with audio, images or videos which provide false information to voters about when, where, and how they can vote.
We have a responsibility to help ensure these tools don’t become weaponised in elections, Brad Smith, the president of Microsoft is reported to have said.
These measures, in my opinion, are a sticking plaster and will not stop the spread of dishonest and fake news!
The use of nuclear reactors for data centres is a controversial and complex topic that has both advantages and disadvantages
Nuclear reactors can provide a reliable, stable, and carbon-free source of electricity for power-hungry data centres, which are essential for the operation of various applications, such as artificial intelligence (AI).
Grid overload
Nuclear reactors can also reduce the dependence on the existing grid, which may be vulnerable to blackouts, fluctuations, or cyberattacks. On the other hand, nuclear reactors require a high initial investment, as well as strict safety and regulatory standards. Nuclear reactors also pose potential risks of radiation, waste disposal, and proliferation. Moreover, nuclear reactors may not be suitable for all locations, as they may face public opposition, environmental concerns, or geopolitical issues.
Small Modular Reactor (SMR)
One of the possible solutions to these challenges is to use small modular reactors (SMRs), which are advanced reactors with about a third of the power generation of a traditional, large nuclear plant. SMRs are designed to be more flexible, scalable, and cost-effective than conventional reactors, as they can be built off-site and transported to the desired location. SMRs can also be integrated with renewable energy sources, such as solar or wind, to create a hybrid system that can balance the power demand and supply.
However, the technology of SMRs is still in its early stages of development and deployment, and there are currently no data centres in the world that use built-in nuclear reactors. Therefore, it remains to be seen whether nuclear reactors will become a common or viable option for future data centres. The decision to use nuclear reactors for data centres should be based on a careful evaluation of the benefits and risks, as well as the alternatives and trade-offs, of each specific case.
It has been calculated that a ‘norma’ data centre (whatever that is), needs 32 megawatts of power flowing into the building. For an AI data centre, it’s closer to 80 megawatts.
AI systems are using all this extra electricity simply because they are doing so much more processing than standard computing. They are chewing through far more data.
As AI continues to develop, so too will the power requirement needed to run these monsters.
Shares of cryptocurrency exchange Coinbase soared 12% Friday 16th February 2024 after the company reported its first profit in two years.
Coinbase, the largest U.S. venue for buying and selling cryptocurrencies, said that net income totalled $273 million in Q4.
This is the first time that the company has reported positive net income since the fourth quarter of 2021.
Net revenue
Coinbase reported its net revenue was $905 million in the Q4 of 2023, up almost 50% from $605 million in the same period of the previous year.
Bitcoin ETFs
Cryptocurrencies saw a huge amount of interest from investors in the fourth quarter of 2023, following news of the U.S. Securities and Exchange Commission approving the first Bitcoin exchange-traded funds (ETFs).
Bitcoin ETFs enable retail investors to access the cryptocurrency as a share that’s traded on a regulated exchange without directly exposing them to the underlying asset.
The news has driven demand for cryptocurrencies due to anticipation that it could drive interest from retail investors.
The value of all the Bitcoin market capitalization, on Wednesday 14th January 2024 climbed above $1 trillion for the first time since late 2021, according to CoinMarketCap data.
Bitcoin also broke through the 51000 level, marking the first time it has hit this value since December 2021.
The price rise continues a rally that began in January 2023. Bitcoin is up more than 21% in 2024 so far.
One year Bitcoin chart
One year Bitcoin chart from March 2023 to February 2024 – CoinMarketCap
Arm’s strong growth forecast has led investors to declare it an AI darling
Arm shares soared 29% on Monday, extending last week’s rally as investors continue to applaud the chipmaker’s better-than-expected third-quarter earnings and its position in the artificial intelligence boom.
Up 93% since 8th February 2024
Arm is now up 93% since it reported quarterly figures on 8th February 2024. There is no obvious reason for the 29% climb on Monday. The fear of missing out (FOMO) could be playing a part in the meteoric share price move.
The stock has almost tripled since Arm’s initial public offering in September 2023, closing at $148.97 and is now worth almost $153 billion, that’s a little more than $30 billion below Intel’s market cap.
Arm 1 year chart showing huge gain in February 2024
Arm 1 year chart showing huge gain in February 2024
AI demand fuels Arm’s success
Last week, Arm said it could double the price for its latest instruction set, which accounts for 15% of the company’s royalties, suggesting it can expand its margin and make more money off new chips. It also said it was breaking into new markets, such as cloud servers and automotive, due to AI demand.
Its royalty strength combined with Arm’s optimistic growth forecast has made the company the latest AI darling among investors, despite a higher earnings multiple than Nvidia or AMD.
Facebook, the social media giant that connects billions of people around the world, celebrated its 20th anniversary on February 4, 2024.
Founded by Mark Zuckerberg and his fellow Harvard students in 2004, Facebook has grown from a college network to a global phenomenon, with over 3 billion monthly users and counting.
Facebook has also changed the way we communicate, share, and connect with each other online, enabling us to keep in touch with friends and family, discover new content and communities, and express ourselves freely.
Controversy
However, Facebook has also faced many controversies and challenges over the years, such as privacy issues, misinformation, child safety, and political scrutiny. Facebook has been accused of violating user data, spreading fake news and hate speech, enabling cyberbullying and online abuse, and influencing elections and public opinion.
How ‘the’ facebook looked 20 years ago
Facebook has also faced competition from other platforms, such as TikTok, Snapchat, and X, as well as regulatory pressure from governments and activists.
Evolving
As Facebook turns 20, it is still evolving and expanding under its parent company Meta, which also owns Instagram and WhatsApp. Meta’s vision is to create a metaverse, a virtual reality where people can interact and experience immersive digital worlds. Meta also aims to invest in artificial intelligence, blockchain, and cloud computing, as well as social good initiatives, such as connectivity, education, and health.
Facebook’s future is uncertain, but it is undeniable that it has shaped the history and culture of the internet and the world, for good and bad.
See BIG tech results here as Meta share price gains 20% after positive earnings impress Wall Street.
Mark Zuckerberg is currently the third richest person in the work coming with a wealth of $161 billion. Not a bad income for 20 years’ work.
A NFT is a non-fungible token, which means it is a unique digital identifier that cannot be copied, substituted, or subdivided.
It is recorded on a blockchain, which is a type of digital ledger that stores information in a secure and decentralised way.
A NFT is used to certify authenticity and ownership of a specific digital asset and specific rights relating to it, such as an artwork, music, a game, or a sports event.
A NFT can be bought and sold on digital markets and may also contain smart contracts that give the creator a share of any future sale of the token. NFTs are different from cryptocurrencies, which are fungible, meaning they can be exchanged for other units of the same value.
NFTs are also different from regular digital files, which can be easily and endlessly duplicated. NFTs are one-of-a-kind assets in the digital world that have value based on their scarcity, uniqueness, and verifiability.
Are NFTs still a thing in 2023?
According to Statista, the annual market cap of NFT transactions worldwide reached 30.7 billion U.S. dollars in 2021, but lost value from this high as the market drifted.
NFTs are also expanding into various segments and industries, such as art, music, gaming, sports, real estate, and more. Some of the top NFT trends to watch in the future may include artificial intelligence, fractional NFTs, music NFTs and NFT ticketing token. NFTs are also facing some challenges, such as regulation, legal battles, environmental impact, and market volatility. NFTs are a new way of creating, owning, and exchanging digital assets. But will it last?
Here to stay?
People may have different opinions on the future of NFTs. Some people may think that NFTs are here to stay, as they offer a new way of creating, owning, and exchanging digital assets that are unique, scarce, and verifiable. They may also see NFTs as a way of supporting artists, creators, and innovators, as well as a way of expressing themselves and their values. Some people may also believe that NFTs have a lot of potential to transform various industries and sectors, such as art, music, gaming, sports, real estate, and more.
A NFT is a non-fungible token, which means it is a unique digital identifier that cannot be copied, substituted, or subdivided.
However, some people may think that NFTs are not here to stay, as they face many challenges and risks, such as regulation, legal battles, environmental impact, and market volatility. They may also see NFTs as a hype, a bubble, or a scam, that are driven by speculation, greed, and FOMO (fear of missing out). Some people may also question the value and utility of NFTs, as they do not confer any ownership rights, benefits, or guarantees to the buyers. These same people likely thought cryptocurrency such a Bitcoin was also a fad.
Ultimately, the future of NFTs may depend on how they evolve, adapt, and innovate, as well as how they are perceived, accepted, and regulated by the society.
NFTs may be here to stay, or they may fade away, but they have certainly made an impact on the digital world.
It was a good day of earnings for Big Tech companies.
Three of the Magnificent 7 results dominated the headlines: Meta, Amazon and Apple. Nasdaq and S&P 500 gained in ‘after the bell’ trading. This after a punishing day for Alphabet and Microsoft, despite good results.
Nasdaq 100 closed at: 17344 but climbed above 17500 in after-hours trading.
Wall Street seemed impressed with Meta’s results.
Meta
Shares of Meta surged 15% after the social-media giant defied analysts’ estimates. It posted earnings of $5.33 per share on revenue of $40.11 billion. The company also declared its first-ever dividend payment. Share buy-back was also announced.
Meta platforms Inc. One year chart
Meta platforms Inc. One year chart
The results show Meta’s online ad business continues to recover well from a terrible 2022.
Sales in the Q4 jumped 25% year on year.
Expenses decreased 8% year over year to $23.73 billion.
Amazon
Investors also enjoyed Amazon’s earnings, which easily topped Wall Street’s predictions. The ecommerce giant also provided a strong positive outlook. The stock jumped 7% in extended trading.
Amazon.com Inc. One year chart
Amazon.com Inc. One year chart
Q4 was a record-breaking Holiday shopping season in the U.S. and closed out a robust 2023 for Amazon. Amazon has much planned for 2024.
Apple
But Apple didn’t benefit from the same treatment despite posting strong results.
Apple Inc. One year chart
Apple Inc. One year chart
Apple also exceeded estimates, reporting revenue growth for the first time in a year. But shares slid more than 2% in extending trading after it posted a 13% decline in sales in China.
Apple’s outlook suggesting weak iPhones sales may have also disappointed investors.
U.S. microchip giant Advanced Micro Devices (AMD) is investing in AI PCs to take on the likes of Nvidia and Intel and Arm as the AI race gains momentum.
As the AI market expands so too will AI powered personal computer (PC). These are personal computers embedded with processors specifically designed to perform AI functions such as real-time language translation. Intel has already announced its AI powered chip for the PC.
Tech research firm Canalys in a December report said the boom in generative AI is expected to boost PC sales as consumers are seeking devices with AI features, predicting that 60% of the PCs shipped in 2027 will be AI-capable.
AI tech interest explodes
An explosion of interest in AI was sparked by the launch of ChatGPT in November 2022 as the chatbot went viral for its ability to generate human-like responses to users’ prompts.
Microsoft was quick to adopt the Technolgy and incorporate AI into its Bing search engine. Other companies such as Amazon, Alphabet (Google), Arm, Meta, Tesla and Apple are all heavily involved in AI development too.
Nasdaq 100 futures declined around 0.75%. S&P 500 futures were also down around 0.4%
In after-hours trading, shares of Alphabet dropped more than 5%, while Microsoft slipped 2% after the tech giants, part of the Magnificent Seven posted quarterly earnings. However, both companies achieved on both top and bottom lines. However, advertising revenue for Alphabet came short of analysts’ expectations.
Tech powerhouse
The tech sector powered the market rally from 2023 into 2024 and is now trading at a relatively high valuation of nearly 29 times its 2024 earnings, according to recent figures. Investors will need to see earnings expansion in order for the tech companies to be able to maintain their elevated levels.
Results were good but not good enough according to Wall Street as stocks were priced for perfection and that wasn’t delivered.
Even though the results were better-than-expected, investors are likely selling because they just want to take some money off the table.
Absolute perfection comes at a price on Wall Street.
Elon Musk’s neurotech startup Neuralink implanted its device in a human for the first time on Sunday 28th January 2024, and the patient is ‘recovering well,‘ the entrepreneur said in a post on X, on Monday 29th January 2024.
The company is developing a brain implant that aims to help patients with severe paralysis control external technologies using only neural signals.
Neuralink began recruiting patients for its first in-human clinical trial in the autumn after it received approval from the U.S. Food and Drug Administration to conduct the study back in May 2023, according to a blog post.
Musk, in an X post on Monday 29th January 2024 said that Neuralink’s first product is called Telepathy.
If the technology functions well, patients with severe degenerative diseases such as motor neurone disease could someday use the implant to communicate or access social media by moving cursors and typing with their minds.
Chinese tech giant Baidu will partner Samsung to integrate its Ernie chatbot capabilities into Galaxy S24 smartphones.
The collaboration with Baidu will facilitate Samsung’s latest Galaxy S24 smartphone series with advanced features such as advanced typesetting, real-time call translation and intelligent summarization.
Samsung recently revealed its latest Galaxy S24 lineup with AI-powered features as it attempts to overtake the Apple iPhone.
In 2023 Apple became the biggest smartphone vendor by shipments in China for the first time.
Last year, Honor, a spin-off from Chinese company Huawei, held the second spot with almost a 17% market share, followed by Vivo, Huawei and then Oppo.
One of the biggest changes in 2023 was Huawei’s return to the top five in China in the Q4. The iphone has been one of the world’s best-selling selling products of all time.
Since the introduction of the Appleiphone in 2007 by Steve Jobs, its inventor and company joint founder, it has gone on to sell 2.3 billion and has over 1.5 billion ‘active’ users. Not bad for a product that investors initially called ‘dead on arrival’ due to lack of interest and sales.
Nokia 3310
In 2007 the Nokia 3310 was the clear market leader and easily king of the mobile phone market. Nokia sold 7.4 million units in 2007 – Apple sold just 1.4 million. Nokia was the ‘go to product’. But not for long.
Oh my, how things have changed. Apple is the now the world’s best-selling product (not just the world’s best-selling phone) – with Nokia and many others left trailing in the dust.
Apple app store
It was the apps that done it; having a product that could be any number of different ‘products’ in one and held in your hand was a game changer – and that changed the world.
The rest is history.
Apple share price chart from 1984 (the year the Apple Macintosh was introduced)
Apple share price chart from 1984 (the year the Apple mac was introduced)
Microsoft’s market cap surpassed $3 trillion in intraday trading Wednesday after the stock climbed more than 1% and hit around $404 per share. The stock lost some ground throughout the day to close at: $402 per share.
The achievement comes nearly two weeks after Microsoft eclipsed Apple as the world’s most valuable public company on 12th January 2024. However, Apple has reclaimed top spot – its market cap closed at around $3.01 trillion on Wednesday 24th January 2024.
Microsoft share price 24th January 2024 – $402.00, 1year chart
Microsoft share price 24th January 2024 – $402.00, 1 year chart
Microsoft shares are up more than 7% year to date as investors remain bullish about the company’s investments in artificial intelligence.
It is strongly expected that Microsoft will deliver good results in the Q2 earnings report, because of its leadership position gained in generative AI.
Microsoft due to announce Q2 figures on 30th January 2024
Microsoft due to announce Q2 figures on 30th January 2024
