Streetbeat News

Stock Prices

AAPL

Apple Inc. (AAPL) is expected to shift its focus in 2024 from the iPhone to its wearable business, including the new Vision Pro mixed reality headset, smartwatches, and AirPods. According to Bloomberg's Mark Gurman, the iPhone 16 lineup will see an upgrade but no major changes, retaining the iPhone 15's design with larger screens for high-end models and possibly an Action button for low-end models. Vision Pro marks Apple's entry into AR/VR, while AirPods and Apple Watch are anticipated to receive significant updates. The third-generation AirPods have underperformed, but new fourth-generation models with design improvements and USB-C charging are expected. The Apple Watch may also feature new health capabilities. Despite stagnant sales in major product categories, Apple's services sector has shown growth, and analysts are not predicting a major resurgence for Apple products in the current fiscal year.

Portfolio Pulse from Ananya Gairola

December 18, 2023 | 3:24 am

BUG

CLOU

IHAK

IJR

NVDA

QYLD

SKYY

XYLD

Jon Maier, investment chief at Global X, forecasts AI-related stocks, cloud computing, and cybersecurity to dominate in 2024. He recommends Global X ETFs like CLOU and BUG, as well as alternatives SKYY and IHAK. Small caps are also highlighted with ETFs VB and IJR suggested. Covered-call products XYLD and QYLD are recommended for range-bound markets. Emerging markets, especially India, are seen as potential growth areas. The SEC is monitoring companies for transparency in AI capabilities.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 3:14 am

BTC-USD

DOGE-USD

ETH-USD

The cryptocurrency market saw a decline on Sunday with Bitcoin, Ethereum, and Dogecoin experiencing drops due to profit-taking. Bitcoin had $860M in net inflows to exchanges, the highest since March, indicating potential selling pressure. Over 72,249 traders were liquidated in the futures market. U.S. stock futures remained stable. Analysts predict a potential end to Bitcoin's upward trend with a shift towards Ethereum, and a parabolic rise for Bitcoin post-halving is anticipated. InternetComputer's market cap doubled in a week.

Portfolio Pulse from Mehab Qureshi

December 18, 2023 | 2:42 am

BABA

Tang Xiao’ou, the billionaire founder of China's AI giant SenseTime, has passed away due to undisclosed health issues. SenseTime, known for its facial recognition technology, has faced accusations from US-based short-seller Grizzly Research of inflating revenue, which the company denied. Despite this, SenseTime's stock fell nearly 10%, with cumulative losses of over 40% this year and over 80% since its IPO. The company's future is uncertain, especially after Alibaba Group Holding Ltd (NYSE:BABA) exited SenseTime in July 2023.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 1:40 am

EWJ

EWY

SPY

Japan's Defense Ministry reported that North Korea has launched a ballistic missile on Monday morning, according to NHK. This event may increase geopolitical tensions in the region.

Portfolio Pulse from Charles Gross

December 17, 2023 | 11:56 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) is facing a labor union strike in Scandinavia that started in Sweden and has spread to Denmark, Finland, and Norway. The strike began with 130 mechanics and has escalated as transporters refuse to deliver vehicles and license plates, and unions pledge not to unload or transport Tesla vehicles. Wedbush analyst Daniel Ives views the standoff as a critical issue that could have global ramifications for Tesla's relationship with unions, particularly with the UAW in the U.S. Ives maintains an 'Outperform' rating and a $310 price target for Tesla stock.

Portfolio Pulse from Shanthi Rexaline

December 17, 2023 | 7:50 pm

TSLA

Senator Tommy Tuberville's bet against Tesla with put options backfired as the stock rallied past $250. Tuberville bought three lots of Tesla put options with a strike price of $190 expiring on Dec. 15, 2023. Tesla's stock fell after Q3 earnings but has since recovered, rendering the senator's options likely worthless. Elon Musk commented on the trade, calling those betting against Tesla 'Gluttons for punishment.'

Portfolio Pulse from Shanthi Rexaline

December 17, 2023 | 1:26 pm

MSFT

NVDA

This week in AI, Grimes and Curio launched an AI toy named Grok, US regulators tagged AI as a financial risk, Sam Altman debunked GPT 4.5 leak speculations, Nvidia's stock is considered a bargain by Bernstein Research, and OpenAI suspended ByteDance for violating a license agreement. Nvidia's stock has surged over 241% in 2023, and ByteDance used OpenAI's GPT to train a competing AI model.

Portfolio Pulse from Benzinga Neuro

December 17, 2023 | 12:02 pm

ARKF

ARKK

ARKW

COIN

Cathie Wood's Ark Invest sold 82,255 shares of Coinbase Global Inc (NASDAQ:COIN) through its ETFs ARKK, ARKW, and ARKF, amidst a crypto market downturn. Bitcoin is predicted to face a downturn, potentially dropping to $38,000. BONK, a Dogecoin rival, saw a 75% price increase and a 140% surge in trading volume. Shiba Inu's supply on exchanges decreased by 0.51%, indicating potential for price gains. Crypto analyst Ali Martinez predicts a bullish breakout for Shiba Inu, with a key resistance at $0.000011.

Portfolio Pulse from Benzinga Neuro

December 17, 2023 | 11:34 am

EGGF

EG Acquisition Corp. (EGGF) plans to transfer its listing from the NYSE to NYSE American and list flyExclusive under the symbol 'FLYX' upon completion of their business combination. The transfer is contingent on meeting all closing conditions and NYSE American's authorization. EGGF and its warrants will trade under 'EGGF' and 'EGGFW' on the NYSE until the combination is finalized, after which they will trade on NYSE American as 'FLYX' and 'FLYXW'.

Portfolio Pulse from Benzinga Newsdesk

December 16, 2023 | 11:49 pm