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AAPL

Pavel Durov, the founder of Telegram Messenger, criticized Apple Inc.'s App Store policies, predicting a decline in iPhone market share in China. He highlighted the Chinese government's encouragement for citizens to switch to Android smartphones, like those made by Xiaomi and Huawei, due to Apple's restrictive app installation policies. Despite Apple's recent concessions in the EU, its strict App Store rules, including the removal of apps like Telegram and Meta Platforms Inc.'s WhatsApp and Threads under Chinese government pressure, could further diminish its market share in China.

Portfolio Pulse from Rounak Jain

April 22, 2024 | 12:08 pm

TSLA

Tesla has reduced the prices of its vehicles in the US, Germany, and China, leading to a decrease in its stock price.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 10:45 am

TSLA

Tesla Inc (NASDAQ:TSLA) is ending its current referral program by the end of April, with plans to introduce a new program in a few months, as announced by CEO Elon Musk. The existing referral credits will remain valid, but no new credits will be earned until the launch of the new program. This change comes alongside recent price cuts on Tesla's Model S, X, and Y vehicles in the U.S. by up to 4.5% and the removal of inventory discounts to streamline sales.

Portfolio Pulse from Anan Ashraf

April 22, 2024 | 6:37 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), addressed the debate over Tesla's pricing strategy on X, emphasizing that Tesla's vehicle prices change frequently to match production with demand. He criticized the reliance on MSRP as the real price, highlighting that price adjustments are common in the auto industry. This comes as Tesla made significant price cuts in China and the U.S. for its electric vehicles and Full Self-Driving (FSD) feature, responding to market competition and preparing for the FSD launch in China. Tesla is also approaching its Q1 earnings report amidst recent layoffs affecting stock performance.

Portfolio Pulse from Benzinga Neuro

April 22, 2024 | 2:06 am

SOLUSD

Melania Trump announced the launch of a $245 customizable Mother's Day necklace, 'Her Love & Gratitude,' which includes a limited-edition digital collectible on the Solana blockchain. This move marks her continued interest in digital art and blockchain technology, following her previous ventures such as a Solana-powered NFT platform and digital art collections. Solana's price saw a slight decrease of 0.28% at the time of the announcement.

Portfolio Pulse from Benzinga Neuro

April 22, 2024 | 1:54 am

AAPL

Bloomberg's Mark Gurman suggests Apple Inc. (AAPL) should lower iPhone prices to address slowing sales and challenges in China, including a ban on foreign brands and consumer preference for local technology. After a 13% drop in China sales, Apple faces pressure to attract new users and encourage upgrades. Gurman proposes a cheaper iPhone model to penetrate emerging markets, despite concerns about diluting Apple's premium brand. Apple plans to upgrade the iPhone SE in 2025 with a potential price above $400, but Gurman recommends a $250 price point for significant impact.

Portfolio Pulse from Shanthi Rexaline

April 21, 2024 | 4:36 pm

AAPL

AMZN

GOOG

META

MSFT

SONY

SPOT

Last week in consumer tech saw Alphabet's Google employees protest a cloud contract, SpaceX's Elon Musk accepting a challenge from Roscosmos, and a Texas judge halting an investigation into Media Matters. Sony is releasing a new PS5 version, a Star Wars-Fortnite crossover is announced, and Nintendo showcased indie games. EA plans a Black Panther game, and Apple faces a decline in iPhone shipments but explores manufacturing in Indonesia. Huawei launches new smartphones, Meta's Llama 3 AI model excels in tests, and Spotify's AI DJ personalizes music streaming. Amazon's Twitch to launch a TikTok-style feed, and Microsoft's investment in OpenAI won't face EU investigation.

Portfolio Pulse from Lekha Gupta

April 21, 2024 | 3:01 pm

AAPL

BB

Apple Inc. (NASDAQ:AAPL) is considering expanding its manufacturing base to Indonesia, following discussions between CEO Tim Cook and Indonesian President Joko Widodo. Additionally, Apple faces new competition in China from Huawei Technologies Co.'s launch of its Pura 70 smartphone series, challenging the iPhone in the high-end market segment. Apple executive Phil Schiller expressed uncertainty about the App Store's profitability, and the company is also dealing with a China-linked espionage campaign targeting iPhones. Apple is pushing back against Epic Games' lawsuit over App Store practices.

Portfolio Pulse from Benzinga Neuro

April 21, 2024 | 4:29 am

BTCUSD

DOGEUSD

Doge Day, celebrated on April 20, is an informal event for Dogecoin (DOGE) enthusiasts, coinciding with a surge in its price and trading volume. This year, it follows the Bitcoin (BTC) halving event, which typically leads to a 'sell the news' market reaction. Bitcoin saw a 1.50% decrease, while Doge increased by 0.48%. Despite recent gains, Doge remains below its all-time high. Elon Musk, once a major promoter of Doge, has reduced his mentions of the coin, though he recently acknowledged Doge Day in relation to SpaceX's Starship launch anniversary.

Portfolio Pulse from Shanthi Rexaline

April 20, 2024 | 1:59 pm

TSLA

Elon Musk hinted at the imminent launch of Tesla's Full Self-Driving (FSD) feature in China in response to a Chinese Tesla owner's inquiry. This follows Tesla's decision to halve the price of its FSD package, making it more accessible. The FSD software, still in beta and requiring driver supervision, is expected to see significant improvements, with Musk announcing three major updates every two weeks. Additionally, Tesla has restarted its offer to allow FSD software transfer to new vehicle purchases.

Portfolio Pulse from Navdeep Yadav

April 20, 2024 | 8:04 am