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Corporate Responsibility

AAPL

GOOGL

Apple Inc (AAPL) has decided to discontinue its electric vehicle (EV) project, Titan, after a decade of development. The decision, supported by Wedbush analyst Dan Ives, comes amid a rapidly evolving EV landscape. Nearly 2,000 employees involved in the project will be redirected to Apple's generative AI division, with some layoffs expected. The move has been met with mixed reactions, with some seeing it as a missed opportunity, while others, like CNBC's Jim Cramer, suggest companies like Alphabet Inc (GOOGL) should follow Apple's focused approach.

Portfolio Pulse from Benzinga Neuro

February 28, 2024 | 5:07 am

AAPL

TSLA

Elon Musk, CEO of Tesla Inc, commented on the challenges of running a car company in response to news that Apple Inc has halted its electric vehicle project. Musk emphasized the difficulty in achieving volume production with positive cash flow, a sentiment he has expressed before. The discussion was sparked by a report that Apple is redirecting resources from its EV project to its generative AI division, with potential layoffs expected. This decision comes after repeated delays and leadership changes in the project, alongside concerns about profit margins.

Portfolio Pulse from Anan Ashraf

February 28, 2024 | 3:19 am

AAPL

TSLA

Ross Gerber criticized Apple Inc's decision to halt its electric vehicle (EV) development project, Titan, and shift focus to Artificial Intelligence (AI). He mentioned that Apple missed an opportunity to invest in Tesla. Apple has informed nearly 2,000 employees about the project's cancellation, with plans to reassign many to its AI division. The decision comes after repeated delays and changes in the project's leadership and strategy.

Portfolio Pulse from Benzinga Neuro

February 28, 2024 | 3:09 am

AAPL

GOOG

GOOGL

Jim Cramer, host of CNBC's 'Mad Money,' suggests Alphabet Inc (GOOGL, GOOG) should streamline its operations like Apple Inc (AAPL) has, focusing on profitability. He criticized Alphabet's diverse ventures and lack of transparency, highlighting a recent pause in an AI feature that impacted its stock. Cramer praised Apple for cutting ineffective projects, like its electric car project, to focus on efficiency and AI. Despite challenges, Bill Ackman views Alphabet as a strong AI investment.

Portfolio Pulse from Benzinga Neuro

February 28, 2024 | 1:49 am

MSFT

NTDOY

SONY

Microsoft Corp's (NASDAQ:MSFT) game Pentiment, initially an Xbox exclusive, is running at 120FPS on Sony Group Corp.'s (NYSE:SONY) PlayStation 5 but only at 60FPS on Xbox Series X/S due to a bug. This has caused disappointment among Xbox fans and raised concerns about Microsoft's commitment to the Xbox platform. Obsidian Studio's Josh Sawyer stated that a patch to fix this issue is forthcoming. The situation has intensified speculation about Microsoft porting more games to other platforms, including PS5 and Nintendo ADR's (OTC:NTDOY) Switch.

Portfolio Pulse from Franca Quarneti

February 27, 2024 | 11:41 pm

AMZN

GOOG

META

The Supreme Court is deliberating if the First Amendment applies to social media giants like Meta, Alphabet, and X in a case that could redefine content censorship. This follows laws in Florida and Texas aimed at preventing these companies from banning political content, which were blocked for potentially violating free speech rights. The outcome could impact how social media platforms are regulated, likening them to either traditional media or common carriers. NetChoice, representing tech companies, challenges these laws, potentially affecting the broader tech industry.

Portfolio Pulse from Natan Ponieman

February 27, 2024 | 11:17 pm

PARR

Par Pacific announced that William Pate will step down as CEO but will remain as a director. Will Monteleone is set to assume the CEO position.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:58 pm

SAM

The Boston Beer Company has announced the retirement of Dave Burwick as President, CEO, and Board Member. Michael Spillane will take over as President and CEO. This leadership change could impact the company's strategic direction and investor confidence.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:57 pm

VSH

Vishay Intertechnology has announced the appointment of David McConnell as its new Chief Financial Officer (CFO).

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:56 pm

BRK

Ruth Gottesman, widow of David Gottesman, a former Berkshire Hathaway Inc. director and Warren Buffett's colleague, has donated $1 billion to the Albert Einstein College of Medicine. This donation, funded by a portfolio of Berkshire Hathaway stock left to her by her late husband, aims to provide free tuition for medical students. It's one of the largest charitable donations to a U.S. school and possibly the largest to a medical school ever. Berkshire Hathaway's shares have significantly outperformed the broader market over the past decades.

Portfolio Pulse from Chris Katje

February 27, 2024 | 9:28 pm