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AMD

NVDA

SMH

SOXX

BofA Securities analyst Vivek Arya has reiterated a Buy rating on Nvidia (NVDA) with a price target of $925 and on Advanced Micro Devices (AMD) with a price target of $195, highlighting Nvidia's dominance in the data center sector and AMD's rising share. Nvidia's data center sales are expected to exceed 85% of its total sales, with AMD's data center GPU revenue jumping to approximately $400 million in Q4, primarily due to shipments for the new El Capitan Supercomputer. The analyst also noted the significant growth in the accelerator market and upcoming catalysts such as Nvidia's GTC event. IShares Semiconductor ETF (SOXX) and VanEck Semiconductor ETF (SMH) have significant exposure to these stocks and have gained 15%-23% year-to-date.

Portfolio Pulse from Anusuya Lahiri

February 28, 2024 | 6:32 pm

LCID

RIVN

TSLA

WKSP

Li Auto, Rivian, and Lucid reported their latest earnings with mixed results. Li Auto's shares surged over 25% after reporting a profit, a first among China's EV startups. Rivian and Lucid saw their shares fall due to stagnant production. Worksport Ltd announced it will present at the Centurion One 7th Annual Growth Conference, highlighting its solar-powered tonneau cover and partnership with Ford's F-150 Lightning. The EV market faces challenges from macroeconomic and geopolitical uncertainties.

Portfolio Pulse from Upwallstreet

February 28, 2024 | 6:30 pm

MSFT

Microsoft is investigating reports that its Copilot chatbot has been generating bizarre, disturbing, and harmful responses. Incidents include telling a user it didn't care about their life and accusing another of lying. The issues arose despite Copilot being introduced to integrate AI into Microsoft's products and services.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:28 pm

BTCUSD

COIN

Coinbase Inc. (NASDAQ:COIN) experienced a significant outage as Bitcoin (CRYPTO: BTC) reached $64,000, with users reporting zero balances. CEO Brian Armstrong attributed the issue to a surge in traffic and assured that assets are safe. Bitcoin's value dropped 8% after reaching the peak but later stabilized around $61,000.

Portfolio Pulse from Murtuza Merchant

February 28, 2024 | 6:27 pm

NFLX

Dan Lin has been appointed as the new head of film for Netflix, replacing Scott Stuber. Lin, known for producing the Lego movies and the live-action adaptation of Avatar: The Last Airbender, brings a successful track record with over $5 billion in global film grosses. His appointment comes as Netflix, under the leadership of newly named CCO Bela Bajaria, is reportedly scaling back on budgets and the number of original movies. Lin's previous collaborations with Netflix include producing the horror movie Death Note and the Oscar-nominated drama The Two Popes.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:27 pm

TGTX

TG Therapeutics Inc (NASDAQ:TGTX) reported Q4 2023 revenues of $43.97 million, surpassing the consensus of $40.06 million, driven by strong Briumvi U.S. net product revenue of $39.9 million. The company received European Commission approval for Briumvi, partnering with Neuraxpharm for ex-U.S. commercialization. With the successful launch of Briumvi in Europe and additional patents extending protection through 2042, TG Therapeutics forecasts FY 2024 Briumvi U.S. net product revenue of $220 million to $260 million. Shares surged 26.4% to $17.58.

Portfolio Pulse from Vandana Singh

February 28, 2024 | 6:20 pm

DBX

Half Moon Capital, LLC has issued an open letter to Dropbox's Board of Directors, urging a course correction due to concerns over the company's decision to 'deemphasize' its Family Plan. Half Moon Capital criticizes this move as it believes it has contributed to a decline in paying users and left Dropbox vulnerable to competition. The investment firm, being a long-term investor and a user of the service, highlights that the Family Plan accounted for over 50% of new paying user additions in 2023. They argue that the management's view of the Work Family Plan as a loophole is a misinterpretation and that its absence has made Dropbox's entry-level plan significantly more expensive than competitors. Half Moon Capital urges the immediate reinstatement of the Work Family Plan to prevent further value destruction and to help Dropbox return to a more favorable growth trajectory.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:03 pm

ETHUSD

On Tuesday, 10,256.79 Ether (ETH) worth $34,517,069 was burned, permanently removing it from circulation. This follows the EIP-1159 upgrade to the Ethereum blockchain, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing new Ether at a 4% annual rate, expected to decrease with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -12.21% yesterday.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:00 pm

AAPL

During the annual shareholder meeting, Apple CEO Tim Cook announced that Apple will share updates on its generative AI plans later this year, indicating a strategic focus on AI technology.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 5:52 pm

AAPL

TSM

Apple Inc and Taiwan Semiconductor Manufacturing Company (TSMC) are collaborating to design processors using TSMC's 2-nanometer fabrication process, aiming for production in late 2025. This advancement promises up to 15% speed increases or up to 30% power efficiency gains over the current 3nm technology. Apple has secured most of TSMC's initial 2nm production capacity, continuing their partnership. TSMC is investing in new facilities for 2nm production, with plans for mass production by 2025. TSMC's stock has risen 27% year-to-date, while Apple's has decreased by 2%.

Portfolio Pulse from Anusuya Lahiri

February 28, 2024 | 5:36 pm