Best Buy Co. BBY, +4.28% Chief Executive Corie Barry said last week she expected the downtrend in tech-product demand to bottom out soon, with a rebound in the second half of the year. Executives for chip maker Nvidia Corp. NVDA, +2.54% said their logjam of products that could not find buyers after a pandemic surge…
““While some worry that AI may take their jobs, someone who’s expert with AI will.”” Those were the words of Nvidia Corp. founder and Chief Executive Jensen Huang on Saturday, as he gave the commencement address at National Taiwan University in Taipei. Huang told graduates that businesses and individuals alike need to become familiar with…
U.S. shares of Taiwan Semiconductor Manufacturing Co. rode the wind behind Nvidia Corp.’s record revenue forecast to their best week in nearly a year and a half. TSM TSM, +2.24% shares rose 12% Thursday as Nvidia Corp.’s stock NVDA, +2.54% soared in response to news of a wave on expected sales of chips used for…
Kneel to your king Wall Street. After forecasting record revenue backed by a “killer AI app,” Nvidia helped deliver a powerful performance for the Nasdaq COMP, +1.71% on Thursday. Indeed, thanks to that chip maker and a few other generals — Microsoft, Apple, Alphabet, etc.— tech is seemingly unstoppable: Top contributors to S&P 500 year-to-date…
Nvidia Corp. executives predicted record revenue well beyond anything the company has experienced Wednesday, pushing shares toward all-time highs, as margins improve with AI-driven data-center sales. Nvidia NVDA, -0.49% guided for second-quarter revenue of $11 billion, plus or minus 2%; the chip maker has never before reported quarterly revenue higher than $8.29 billion, which it…
The last full week of trading for May is set to kick off on a subdued note, as markets wait for progress on the debt ceiling and more Fed clarity on interest rate direction. But the S&P 500’s SPX, -0.14% surprising bust out of a range last week has opened up a debate on Wall…
Last week, retailers Walmart Inc., Target Corp. and Home Depot Inc. provided broad strokes on how rising prices for essentials have reshaped consumer habits. Now come the finer points, with a whole lot of other retailers — including Dollar Tree Inc. DLTR, -0.37%, Costco Wholesale Corp. COST, -0.32%, Best Buy Co. Inc. BBY, -3.44%, Gap…
Here’s a summary of how the 11 sectors of the S&P 500 SPX, -0.14% have performed his year and how forward price-to-earnings ratios compare to valuation levels at the end of 2021: Sector or index 2023 return 2022 return Return since end of 2021 3-year return 5 year return Forward P/E Forward P/E at end…
When investors think of technology stocks, they might automatically gravitate toward “the next big thing,” or to the giant companies that dominate the S&P 500 SPX, -0.14%. But Robert Stimson, chief investment officer of Oak Associates Funds, makes a case for diversification through exposure to smaller innovators which he believes are “overlooked in this environment.”…
Things move quickly in the world of artificial intelligence. It is easy to sit back and complain about developments that could be disruptive, but sometimes investors are best served by putting emotions aside and observing new developments and how they affect markets. Could AI developments and related trends make you a lot of money? Below…
The first-quarter dip never happened. Some observers say that’s a problem. Credit-card balances hit $986 billion in the fourth quarter last year and remained largely unchanged in the first quarter of this year, the Federal Reserve Bank of New York said in its most recent quarterly report on household debt. It looks increasingly likely that…
3M Co. MMM, -0.10% said Monday it has fired Michael Vale, group president and chief business and country officer, for cause. The dismissal is due to “inappropriate personal conduct and violation of company policy, unrelated to the company’s operations and financial performance,” the company said in a brief statement. It did not offer additional details….
Cisco did not reduce its full-year revenue forecast, as a previous version of this article indicated. It has been updated. Cisco Systems Inc. beat expectations for quarterly profit and sales in a report Wednesday, but executives did not increase their top target for annual revenue and revealed that orders declined again, sending shares down 4%…
A new week is pointing to a perky start for Wall Street, with stock futures in the green. But one might wonder “What gives?” as old worries — banking sector concerns and a debt-ceiling standoff — lurk, and some market observers assure the S&P 500 SPX, -0.16% is going nowhere until those are resolved. But…
Shares of Sonos Inc. dropped more than 20% in the extended session Wednesday after the maker of audio products beat Wall Street expectations for its fiscal second quarter but cut guidance for the year due to “softening consumer demand.” Sonos SONO lost $31 million, or 24 cents a share, in the quarter, swinging from earnings…
GoPro Inc. is reducing prices that were raised earlier in the COVID-19 pandemic, after the action-camera company announced that revenue declined nearly 20% in the first three months of the year. GoPro GPRO announced that it will return to prepandemic pricing structures on its lineup of cameras, slicing $50 to $100 off most models. For…
Most of the first-quarter earnings blizzard has passed, and the results, overall, haven’t been as bad as expected — thanks in large part to the nation’s biggest tech companies: Apple Inc., Amazon.com Inc. and Microsoft. The S&P 500 index SPXhas largely moved sideways over the past few weeks, as markets try to stomach concerns about…
Advanced Micro Devices Inc. shares rallied Friday to eliminate steep losses from Wall Street’s skepticism following the chip maker’s earnings report. AMD shares dropped more than 9% Wednesday after the chip maker’s optimism for the second half of the year did not rub off on analysts, but a rebound began Thursday following a report that…
Apple Inc.’s investors showed enthusiasm after the company beat on earnings Thursday and announced billions more dollars on their way to shareholders, but they may have missed some important guidance. Apple AAPL, -0.99% shares gained more than 2% in after-hours trading Thursday, as iPhone sales grew unexpectedly and analysts heaped praise on the most valuable…
Apple Inc. on Thursday revealed surprise growth in its iPhone business during the first three months of the year, overcoming a shortfall in Mac revenue as the company promised investors billions more in dividends and stock repurchases. Apple AAPL, -0.99% shares gained between 1% and 2% in after-hours trading immediately following the release of the…