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Revenues

AAPL

SSNLF

Apple Inc. (AAPL) continues to lead the premium smartphone market with a 71% share in 2023, despite a slight decline from 75% in 2022 due to Huawei's resurgence in China with the Mate 60 series. The premium market, with phones over $600, is expected to make up a quarter of global sales and 60% of revenue in 2023. The ultra-premium segment, above $1,000, is driving growth, particularly in China, Western Europe, India, and the Middle East and Africa, with India growing the fastest. This growth occurs despite a general slowdown in smartphone sales, with consumers opting for higher quality, longer-lasting devices.

Portfolio Pulse from Rounak Jain

January 04, 2024 | 11:36 am

ZYME

Zymeworks Inc. reported that as of December 31, 2023, it had approximately $455 million in cash, cash equivalents, and marketable securities. The company expects these funds to be sufficient to support its operations into the second half of 2027.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 11:17 am

FSLR

First Solar, Inc. has signed a 15-year Power Purchase Agreement (PPA) with Cleantech Solar, a leading provider of renewable energy solutions in India and Southeast Asia. This agreement will enable First Solar to supply solar power to Cleantech Solar's customers in the region, reinforcing First Solar's presence and commitment to the renewable energy market in Asia.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 11:04 am

FFND

TSLA

Tesla, Inc. (TSLA) shares dropped over 4% on Wednesday, but bullish analyst Gary Black of Future Fund remains optimistic. Despite the downturn, Black highlighted Tesla's strong performance in 2023 with a 102% increase compared to Nasdaq's 54%. He attributed the tech sector's decline to investor concerns over the Federal Reserve's less aggressive rate cuts. Black praised Tesla's Q4 deliveries, driven by record demand in China, and anticipates Q4 core auto gross margins to exceed Q3's 16.3%. He expects Tesla to guide to 2024 deliveries of at least 2.2 million units, a 22% year-over-year growth, which would be the slowest since 2013 but still achievable. The Future Fund Active ETF (FFND), where Tesla is the second-biggest holding, may also be impacted by these sentiments.

Portfolio Pulse from Shanthi Rexaline

January 04, 2024 | 8:18 am

BTDR

UBS predicts a significant expansion in the AI industry, forecasting a growth from $2.2 billion in 2022 to $225 billion by 2027, a 152% CAGR. AI sector revenue is expected to increase 15-fold, from $18 billion to $420 billion, with a 138% CAGR in the application sector. AI infrastructure spending is also projected to grow, benefiting hardware chips and GPUs used in AI training. Despite concerns over regulatory rhetoric, early rule implementation may be advantageous. The tech industry is experiencing 'peak AI hype,' with investors looking for returns on AI investments.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 8:09 am

EWQ

France's preliminary Consumer Price Index (CPI) for December showed a 0.1% increase, which is lower than the estimated 0.2% and a decrease from the previous -0.2%.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:46 am

FGF

FGFPP

FG Financial Group and FG Group Holdings have announced a merger to form Fundamental Global Inc. The merger is expected to result in significant expense savings, improved scale, and capital efficiency. The combined entity will have over $110 million in total assets and $65 million in annual revenue. Post-merger, the company will trade on Nasdaq under the tickers 'FGF' for common stock and 'FGFPP' for Series A cumulative preferred stock.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:14 am

F

TSLA

Ford Motor Co (NYSE:F) CEO Jim Farley celebrated Ford's achievement of the new Ford Ranger becoming the best-selling vehicle in Australia for 2023, marking the first time in nearly 30 years a Ford vehicle has topped sales charts in the country. This success follows Ford's entry into the Australian electric vehicle market and plans to introduce at least five new electric vehicles by the end of 2024. Meanwhile, Tesla Inc. (NASDAQ:TSLA) continues to experience strong demand in Australia, with its Model 3 and Model Y nearly selling out in June.

Portfolio Pulse from Ramakrishnan M

January 04, 2024 | 6:25 am

AMZN

PDD

SE

TikTok, owned by ByteDance Ltd, is planning a significant expansion of its U.S. e-commerce operations with a revenue target of $17.5 billion, challenging Amazon (AMZN) and other e-commerce platforms like PDD Holdings Inc's Temu and Shein. TikTok Shop, which integrates shopping with short videos and live streams, is expected to increase merchandise volume by 2024. ByteDance's revenue grew by 30% in 2023, surpassing $110 billion. The expansion includes increasing seller fees to boost sales after a reported loss in the e-commerce vertical last year. TikTok's U.S. user base of 150 million could impact the e-commerce landscape.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 4:55 am

CMPS

The American Medical Association has activated new CPT III codes for psychedelic-assisted therapies, which are temporary codes for emerging treatments. These codes will facilitate reimbursement and access to such therapies in the U.S. MAPS PBC and COMPASS Pathways (NASDAQ:CMPS) have been instrumental in developing these codes, which could lead to permanent CPT I codes if usage data supports it. MAPS PBC is awaiting FDA approval for MDMA therapy for PTSD, which could lead to DEA rescheduling of MDMA for medical use.

Portfolio Pulse from Lara Goldstein

January 03, 2024 | 10:50 pm