$AAPL - $AAPL

Apple Stock (NASDAQ:AAPL), Trade Ideas

Apple

Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.

Photo: Courtesy of Scott Beale on Flickr

Market Summary

News

Tech

AAPL

AMZN

NVDA

Jim Cramer has highlighted upcoming significant events for investors, including earnings from major companies like Apple and Amazon, and key economic indicators such as the Federal Reserve meeting and employment data.

Jim Cramer Weighs In Ahead Of Apple, Amazon, Eli Lilly Earnings: &#39;We Have To Run Such A Ridiculous Gauntlet Next Week&#39;

Apple iPhone 15 Pro

General

GOOG

GOOGL

MSFT

Apple has resumed discussions with Microsoft-backed OpenAI about incorporating the startup&#39;s AI technology into the upcoming iPhone features.

Goodbye Google Gemini? Apple In Talks With Microsoft-Backed OpenAI For iPhone AI Features: Report

Mobileye_autonomous_shuttle_i-Cristal_by_Lohr_Group_&_Transdev_ATS

Analyst Color

Short Ideas

Downgrades

Price Target

Analyst Ratings

Movers

Trading Ideas

MBLY

QCOM

VWAGY

XIACF

Mobileye Global reported a 48% year-on-year decline in revenues for the first quarter.

Mobileye Global Hit By Surprise EV Slowdown; This Analyst Turns Bearish

Apple Inc

Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; has outlined the key events that investors should keep an eye on in the upcoming week.
What Happened: Cramer highlighted the significant events scheduled for the week, including earnings reports from&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>),&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and&nbsp;Eli Lilly and Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>),&nbsp;<a href="https://www.cnbc.com/2024/04/26/cramers-week-ahead-fed-meeting-and-apple-amazon-eli-lilly-report.html">reported</a> CNBC on Friday.
He also spoke about the importance of the <a href="https://www.benzinga.com/topic/fomc-meeting">Federal Reserve meeting</a> on Wednesday and the&nbsp;employment figures from the Department&nbsp;of Labor on Friday.
The Mad Money host expressed his concerns about the economy, stating, &#8220;We&nbsp;have to run such a&nbsp;ridiculous gauntlet next week that&nbsp;I have no idea how&nbsp;it'll play out.&#8221; Adding, &#8220;But&nbsp;I do think the economy's&nbsp;getting weaker — I just&nbsp;hope the Federal Reserve has noticed.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
On Monday,&nbsp;SoFi&nbsp;and&nbsp;Domino&#8217;s Pizza&nbsp;will report their earnings. Tuesday will see reports from&nbsp;Eli Lilly,&nbsp;McDonald&#8217;s,&nbsp;Amazon, and&nbsp;Starbucks. Wednesday will feature reports from&nbsp;CVS,&nbsp;Pfizer,&nbsp;Wingstop,&nbsp;Carvana, and&nbsp;Marriott, as well as the Fed&#8217;s rate announcement.
Cramer said Eli Lilly&#8217;s outcomes will offer clarity on the sales performance of the <a href="https://www.benzinga.com/general/biotech/24/04/38356901/changing-frugal-eating-habits-how-novo-nordiskeli-lillys-weight-loss-drugs-reshaping-food-spendin">company&#8217;s weight loss</a> and diabetes drug, along with further details on the potential approval timeline for its Alzheimer&#8217;s treatment by <a href="https://www.benzinga.com/general/biotech/24/03/37558545/eli-lillys-donanemab-for-alzheimers-hits-fda-speed-breaker-biogen-stock-gains-on-delayed-decision">the Food and Drug Administration</a>.
On Thursday, Apple is set to release its report, with Cramer highlighting <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38378204/apple-is-a-top-stock-pick-for-2024-analyst-says-4-catalysts-to-look-for-in-next-ear">significant investor skepticism</a> toward the Big Tech firm. He pointed out that <a href="https://www.benzinga.com/news/24/03/37821802/apple-vision-pro-gets-nvidia-boost-with-dedicated-data-centers-to-stream-advanced-3d-experiences">Apple&#8217;s collaboration</a> with Nvidia, facilitating enterprise applications for the Vision Pro, could potentially bolster the stock.
Why It Matters: On Thursday, Cramer <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38456821/jim-cramer-scoffs-at-disproportionate-coverage-of-apple-while-google-and-microsoft-">criticized the disproportionate coverage</a> of Apple&#8217;s struggles compared to the successes of Google and Microsoft. He pointed out that while Apple&#8217;s challenges with antitrust regulations and declining iPhone sales in China received major attention, the <a href="https://www.benzinga.com/news/24/04/38459818/real-deal-amid-microsoft-google-earnings-techpreneur-says-by-2030-companies-not-fully-utilizing-ai-w">remarkable quarterly results</a> of Google and Microsoft barely made the news.
He has previously also&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38406798/jim-cramer-takes-potshots-at-tesla-boeing-shrugs-off-post-earnings-rally-as-smacks-of-fiction-horre">expressed skepticism</a>&nbsp;about the post-earnings rally of Tesla and Boeing, stating that it &#8220;smacks of fiction not fact.&#8221; 
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38368953/jim-cramer-sees-nvidia-as-going-from-star-of-the-show-to-being-the-goat-of-the-game?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Sees Nvidia As Going &#8216;From Star Of The Show To Being The Goat Of The Game&#8217;</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Courtesy of Scott Beale on Flickr

Jim Cramer Weighs In Ahead Of Apple, Amazon, Eli Lilly Earnings: 'We Have To Run Such A Ridiculous Gauntlet Next Week'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has reportedly resumed discussions with Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI about incorporating the startup&#8217;s AI technology into the <a href="https://www.benzinga.com/news/24/03/37932418/apple-reportedly-readying-ios-18-with-home-screen-redesign-and-ai-upgrades">upcoming iPhone features</a>.
What Happened: Apple is in talks with OpenAI to potentially integrate its technology into the iPhone&#8217;s next operating system, iOS 18, <a href="https://www.bloomberg.com/news/articles/2024-04-26/apple-intensifies-talks-with-openai-for-iphone-generative-ai-features">Bloomberg</a> reported.
The companies are discussing the terms of the agreement and how OpenAI&#8217;s features would be integrated into iOS 18.
This development marks the reopening of discussions between the two companies. While Apple had initially collaborated with OpenAI earlier this year, there has been minimal engagement between the two entities since then.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Apple has not yet made a final decision on its partners and there is no guarantee that a deal will be reached. The company may ultimately strike a deal with both OpenAI and Google or choose another provider altogether.
Apple and OpenAI did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga's</a> request for comment.
See Also: <a href="https://www.benzinga.com/news/24/04/38424000/mark-zuckerberg-shades-apple-vision-pro-once-again-calls-it-fashionable-ai-glasses-without-a-display?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Shades Apple Vision Pro Once Again, Calls It &#8216;Fashionable AI Glasses Without A Display&#8217;</a>
The iOS 18 update is set to include several new features based on <a href="https://www.benzinga.com/markets/equities/24/03/37819063/apples-in-house-ai-features-for-ios-18-are-codenamed-project-graymatter-separate-from-googles-ge">Apple&#8217;s in-house large language model AI model</a>. The company is also seeking partners to power a chatbot-like feature similar to OpenAI&#8217;s ChatGPT.
Why It Matters: The renewed talks between Apple and OpenAI come amidst Apple&#8217;s <a href="https://www.benzinga.com/news/24/03/37771653/apple-in-talks-with-google-to-license-gemini-ai-models-for-future-iphones-report">ongoing discussions with</a> Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google about licensing the latter&#8217;s Gemini AI models for future iPhones. The potential deal with OpenAI and Google could also significantly impact the iPhone&#8217;s AI capabilities.
Apple&#8217;s CEO, Tim Cook, has been vocal about the company&#8217;s plans to <a href="https://www.benzinga.com/markets/equities/24/03/37871211/google-or-microsoft-backed-openai-apple-hasnt-picked-the-winner-yet-for-its-ai-ambitions-report">introduce new AI features</a> on a &#8220;very thoughtful basis.&#8221; By collaborating with external partners like OpenAI and Google, Apple aims to accelerate its AI push and enhance its devices&#8217; AI capabilities while mitigating potential risks.
Price Action: Apple's shares closed 0.35% lower at $169.30 on Friday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37784585/gene-munster-says-apple-will-fight-to-rebrand-gemini-on-iphone-but-the-deal-is-what" target="_blank" rel="noreferrer noopener">Gene Munster Says ‘Apple Will Fight' To Rebrand Gemini On iPhone, But The Deal Is What Google Investors Have Been ‘Waiting For The Last 6 Months'</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo by Thai Nguyen on Unsplash

Mobileye Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) reported a 48% year-on-year revenue decline <a href="https://www.benzinga.com/news/earnings/24/04/38432965/intel-spinoff-mobileye-revenue-falls-amid-supply-chain-reset-ceo-optimistic-about-recovery">for the first quarter</a>.
According to Morgan Stanley, the stiff competition and the unexpected downturn in electric vehicle (EV) adoption limits Mobileye's TAM (total addressable market) through 2030.
The Mobileye Global Analyst: Adam Jonas downgraded the rating for Mobileye Global from Equal-Weight to Underweight. He also lowered the price target from $26 to $25.
The Mobileye Global Thesis: While Mobileye Global's SuperVision product is "impressive," its potential relies on several factors that are outside the company's control, Jonas said in the downgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
"While we see significant value in Mobileye&#8217;s position as a market leader in computer vision and core ADAS offerings," there are headwinds for new content growth for advanced ADAS systems, the analyst wrote.
The EV deceleration limits the near-term TAM for SuperVision, "as legacy automakers (driven by capital discipline) elect not to allocate their capex and R&amp;D dollars on AV tech for mass market ICE platforms," he added.
Mobileye Global is facing heightened competition within and outside China. Jonas cited low-cost providers, and pure-play semiconductor companies like Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>). 
Big tech players, like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), are also exploring ADAS. Several automakers are also exploring in-house solutions like Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) and Xiaomi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>), Jonas further stated.
MBLY Price Action: Shares of Mobileye Global had declined by 6.05% to $29.03 at the time of publication on Friday.
Now Read: <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/04/38467013/tech-stocks-rebound-as-magnificent-7-roar-on-strong-earnings-energy-giants-tumble-wh">Tech Stocks Rebound As Magnificent 7 Roar On Strong Earnings, Energy Giants Tumble: What&#8217;s Driving Markets Friday?</a>
Image: Wikimedia Commons

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>04/26/24</td>
<td>$880.00</td>
<td>$34.6K</td>
<td>10.4K</td>
<td>64.0K</td>
</tr>
<tr>
<td>AAPL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$170.00</td>
<td>$32.8K</td>
<td>9.8K</td>
<td>44.4K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$850.00</td>
<td>$26.0K</td>
<td>2.0K</td>
<td>16.1K</td>
</tr>
<tr>
<td>TSM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$140.00</td>
<td>$26.7K</td>
<td>22.7K</td>
<td>8.8K</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$23.00</td>
<td>$72.8K</td>
<td>12.8K</td>
<td>8.1K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$19.00</td>
<td>$58.5K</td>
<td>1.8K</td>
<td>4.8K</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$34.00</td>
<td>$51.1K</td>
<td>1.4K</td>
<td>3.2K</td>
</tr>
<tr>
<td>MRVL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$70.00</td>
<td>$148.5K</td>
<td>7.7K</td>
<td>2.9K</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$111.00</td>
<td>$27.3K</td>
<td>1.2K</td>
<td>2.7K</td>
</tr>
<tr>
<td>AMD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$155.00</td>
<td>$25.7K</td>
<td>5.6K</td>
<td>2.0K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option sweep that happens to be neutral, is expiring today. Parties traded 52 contract(s) at a $880.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $34.6K, with a price of $669.0 per contract. There were 10428 open contracts at this strike prior to today, and today 64059 contract(s) were bought and sold. 
• For AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we notice a put option trade that happens to be bearish, is expiring today. Parties traded 820 contract(s) at a $170.00 strike. The total cost received by the writing party (or parties) was $32.8K, with a price of $40.0 per contract. There were 9859 open contracts at this strike prior to today, and today 44416 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a call option trade that happens to be bearish, is expiring today. Parties traded 20 contract(s) at a $850.00 strike. The total cost received by the writing party (or parties) was $26.0K, with a price of $1300.0 per contract. There were 2095 open contracts at this strike prior to today, and today 16144 contract(s) were bought and sold. 
• Regarding TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we observe a call option trade with bullish sentiment. It expires in 56 day(s) on June 21, 2024. Parties traded 39 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $26.7K, with a price of $685.0 per contract. There were 22727 open contracts at this strike prior to today, and today 8837 contract(s) were bought and sold. 
• Regarding RIOT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), we observe a call option sweep with bearish sentiment. It expires in 21 day(s) on May 17, 2024. Parties traded 8000 contract(s) at a $23.00 strike. This particular call needed to be split into 24 different trades to become filled. The total cost received by the writing party (or parties) was $72.8K, with a price of $9.0 per contract. There were 12819 open contracts at this strike prior to today, and today 8111 contract(s) were bought and sold. 
• Regarding MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we observe a call option trade with bearish sentiment. It expires in 7 day(s) on May 3, 2024. Parties traded 398 contract(s) at a $19.00 strike. The total cost received by the writing party (or parties) was $58.5K, with a price of $147.0 per contract. There were 1881 open contracts at this strike prior to today, and today 4802 contract(s) were bought and sold. 
• Regarding INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we observe a call option sweep with bearish sentiment. It expires in 84 day(s) on July 19, 2024. Parties traded 430 contract(s) at a $34.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $51.1K, with a price of $119.0 per contract. There were 1493 open contracts at this strike prior to today, and today 3226 contract(s) were bought and sold. 
• For MRVL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), we notice a call option sweep that happens to be bullish, expiring in 7 day(s) on May 3, 2024. This event was a transfer of 940 contract(s) at a $70.00 strike. This particular call needed to be split into 29 different trades to become filled. The total cost received by the writing party (or parties) was $148.5K, with a price of $158.0 per contract. There were 7751 open contracts at this strike prior to today, and today 2974 contract(s) were bought and sold. 
• For MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we notice a call option sweep that happens to be bearish, is expiring today. Parties traded 74 contract(s) at a $111.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $27.3K, with a price of $370.0 per contract. There were 1291 open contracts at this strike prior to today, and today 2740 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a put option sweep that happens to be bearish, expiring in 7 day(s) on May 3, 2024. This event was a transfer of 50 contract(s) at a $155.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.7K, with a price of $515.0 per contract. There were 5673 open contracts at this strike prior to today, and today 2066 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

INTC

MARA

MRVL

RIOT

SMCI

10 Information Technology Stocks With Whale Alerts In Today's Session

The future of&nbsp;TikTok&nbsp;in the United States hangs in the balance as its parent company and&nbsp;Meta Platforms Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) rival,&nbsp;ByteDance, considers shutting down the app rather than selling it amid legal battles.
According to a report from Reuters, four sources close to the matter revealed that if ByteDance exhausts all legal options against the impending ban, it may opt for a shutdown over a sale.
TikTok&#8217;s core algorithms, integral to ByteDance&#8217;s operations, make a sale unlikely. The app contributes a small share to ByteDance&#8217;s revenue, leading the parent company to prefer a shutdown over selling to a potential American buyer.
Shutting&nbsp;down TikTok would have minimal impact on ByteDance&#8217;s business and allow it to retain its core algorithm, the report said.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/04/38187072/tiktok-parent-bytedances-profits-rise-60-year-over-year-as-company-grapples-with-potential-us-ban" rel="noreferrer noopener">TikTok Parent ByteDance&#8217;s Profits Rise 60% Year-Over-Year As Company Grapples With Potential&nbsp;US&nbsp;Ban</a>
In a statement posted on Toutiao, ByteDance denied plans to sell TikTok, countering reports suggesting otherwise.
TikTok CEO Shou Zi Chew expressed confidence in overcoming the legal challenges posed by&nbsp;U.S.&nbsp;legislation to ban the app.
The legislation signed by President Biden gives TikTok's parent company,&nbsp;ByteDance,&nbsp;nine months to sell the&nbsp;app or face a national&nbsp;ban, with the&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38394855/biden-set-to-sign-tiktok-ban-into-law-after-senate-passes-bill-supported-by-gop-democrats" rel="noreferrer noopener">possibility of a 90-day extension by the President</a>.
TikTok&#8217;s&nbsp;U.S.&nbsp;revenues accounted for approximately 25% of its total last year, highlighting its significance.
Despite interest from investors like former&nbsp;U.S.&nbsp;Treasury Secretary Steven Mnuchin, ByteDance may need help attracting buyers for TikTok&#8217;s&nbsp;U.S.&nbsp;assets sans algorithms.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38423296/expert-slams-tiktok-ban-bill-as-way-too-vague-questions-impact-on-donald-trumps-truth-social-rumble" rel="noreferrer noopener">Expert Slams TikTok Ban Bill As &#8216;Way Too Vague,&#8217; Questions Impact On Donald Trump&#8217;s Truth Social, Rumble And X</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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TikTok Would Rather Shutdown Than Opt For Sale

Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is deepening its involvement with China while expanding its production in Southeast Asia and India, illustrating the iPhone maker&#8217;s delicate balancing act between political pressures and business needs.
In&nbsp;2023,&nbsp;Apple increased its number of China-based suppliers and manufacturing sites, reducing its reliance on suppliers from Taiwan, the U.S., Japan, and South Korea, according to a Nikkei Asia&nbsp;<a target="_blank" href="https://asia.nikkei.com/Business/Business-Spotlight/Apple-moves-closer-to-China-despite-supply-chain-shifts#:~:text=TAIPEI%20%2D%2D%20Apple%20is%20deepening,striking%20between%20politics%20and%20business." rel="noreferrer noopener">review</a>&nbsp;of Apple&#8217;s latest official supplier list.
Apple publishes an official list of its suppliers nearly every year. The most recent list includes 187 companies, accounting for 98% of the company&#8217;s procurement for fiscal 2023.
Since 2020, Chinese suppliers have become the largest group within Apple&#8217;s supplier network, growing to 52 in the last year from 48 in 2022. The number of manufacturing or development facilities in China, including those owned by domestic and foreign companies, increased by 10 to 286.
As Apple accelerates its supply chain shift to Southeast Asia amid the ongoing U.S.-China tech conflict, its ties with China continue to deepen.
The number of Apple suppliers in Vietnam surged by 40% to 35 last year, while the number in Thailand increased by about a third to 24. The number of suppliers in India remained stable at 14.
However, this growing presence in India and Southeast Asia does not necessarily mean a reduced dependence on China.
Prior reports conjectured that Apple reduced its dependence on China due to growing geopolitical tensions between the U.S. and China&nbsp;after which&nbsp;Washington imposed a semiconductor technology embargo on China which included import of sophisticated AI chips from&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other chip designers.
Nikkei Asia&#8217;s analysis indicates that approximately 37% of the 35 suppliers in&nbsp;Vietnam&nbsp;are from China and Hong Kong, including AirPods assemblers Luxshare and Goertek and iPad assembler BYD.&nbsp;
All three have increased their production capacity in the country to serve Apple.
Taiwanese suppliers remain the second-largest group in the Apple supply chain, followed by U.S., Japanese, and South Korean suppliers.
A significant portion of its supply chain is in China, and revenue from Greater China — the world&#8217;s largest consumer electronics market — still accounted for 17% of its total revenue in the December quarter.
According to IDC data,&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/03/37479073/apples-iphone-sales-dip-24-in-china-falls-to-fourth-place-behind-vivo-and-huawei" rel="noreferrer noopener">Apple&#8217;s shipments in</a>&nbsp;the first quarter of this year dropped nearly 10% globally, a steeper year-over-year decline than peers like Samsung and Xiaomi experienced.
Prior reports indicated that Apple&nbsp;is offering&nbsp;the iPhone 15 series at steep discounts in China through resellers, implying softening demand.
Morgan Stanley&nbsp;analyst Erik Woodring&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38362506/apples-next-big-leap-how-ai-software-and-wwdc-announcements-could-fuel-growth" rel="noreferrer noopener">anticipates a slight revenue</a>&nbsp;increase for the March quarter.&nbsp;
Still, he expects a significant downward revision for the June quarter guidance compared to consensus, which may initially disappoint the market.&nbsp;
Despite this, he sees potential for a relief rally at Apple, especially with the upcoming Worldwide Developer Conference (WWDC) expected to showcase new AI software features.&nbsp;
Woodring notes the possibility of a nearly 30% upside to his new price target and a pivotal AI-driven iPhone cycle in fiscal 2025, focusing&nbsp;on total revenue, China iPhone shipments, and Services revenue growth&nbsp;in his analysis.
Apple stock gained 4% in the last 12 months.&nbsp;Investors can gain exposure&nbsp;to&nbsp;the stock via&nbsp;Vanguard Information Tech ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>) and&nbsp;SPDR Select Sector Fund&nbsp;&#8211;&nbsp;Technology&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>).
Price Action:&nbsp;AAPL shares traded higher by 0.39% at $170.55 premarket at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Source &#8211; Apple

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Apple Strengthens Supply Chain in China While Growing Presence in Southeast Asia and India

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&#8220;Mad Money&#8221; host Jim Cramer pointed out the disproportionate coverage of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381758/jim-cramer-weighs-in-after-iphone-sales-reportedly-plummet-19-in-china-in-q1-anothe">&#8220;losing leadership&#8221;</a> compared to Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) post their &#8220;spectacular quarters.&#8221;
What Happened: On Friday, Cramer took to X, formerly Twitter, to express his observation. He noted the abundance of articles discussing Apple&#8217;s recent struggles with <a href="https://www.benzinga.com/markets/equities/24/03/37872817/apple-says-dangerous-doj-lawsuit-threatens-who-we-are-vows-to-fight-against-it">antitrust regulations</a> and its latest product, Vision Pro, while <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">Google</a> and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38453639/another-picasso-like-performance-top-tech-analyst-praises-satya-nadella-says-micros">Microsoft&#8217;s remarkable quarterly results</a> barely made the news.
His post came after Alphabet and Microsoft released their earnings reports, both of which exceeded analyst expectations, while Apple&#8217;s iPhone sales in China plunged.
&#8220;There are hundreds of articles about Apple losing leadership but Google and Microsoft can barely buy an inch of ink after some spectacular quarters&#8230;&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There are hundreds of articles about Apple losing leadership but Google and Microsoft can barely buy an inch of ink after some spectacular quarters&#8230;
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1783774623689011385?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Compensation While It Learns To Navigate Shipping Slump</a>
Apple&#8217;s iPhone sales in China nosedived 19.1% in the first three months of 2024, with its market share witnessing a significant decline to 15.7% from 19.7% a year ago, according to data from Counterpoint Research.
This is Apple&#8217;s worst performance since 2020, largely due to the impact of Huawei Technologies Co.'s new <a href="https://www.benzinga.com/markets/equities/24/04/38308198/apples-falling-iphone-sales-have-another-challenge-to-deal-with-as-huawei-launches-new-phones" target="_blank" rel="noreferrer noopener">product launches</a> in the premium segment. Huawei's sales surged by 70% in the same period.
Why It Matters: Wall Street is eagerly anticipating <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38378204/apple-is-a-top-stock-pick-for-2024-analyst-says-4-catalysts-to-look-for-in-next-ear">Apple&#8217;s upcoming Q2 earnings</a> report, with analysts highlighting the stock&#8217;s promising outlook. Meanwhile, <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">Microsoft</a> and Alphabet have already reported impressive Q3 and Q1 earnings, respectively, beating both top and bottom-line estimates for five consecutive quarters.
Price Action: On Thursday, Apple closed at $169.89, Alphabet Inc. at $157.95, and Microsoft at $399.04, as per<a href="https://pro.benzinga.com"> Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock On Tuesday?</a>
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Jim Cramer Says 'There Are Hundreds Of Articles' About Apple Losing Top Spot In China: 'Google And Microsoft Can Barely Buy An Inch Of Ink After Some Spectacular Quarters'

Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) CEO&nbsp;Sundar Pichai&nbsp;has expressed confidence in the company&#8217;s ability to manage the costs associated with the <a href="https://www.benzinga.com/news/23/12/36236482/googles-ai-search-a-double-edged-sword-for-publishers-like-the-atlantic">new search experience</a>, which includes generative answers.
What Happened: During the <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">first-quarter earnings call on Thursday</a>, Pichai addressed the changes in user behavior and the potential impact on the new Search experience given the integration of generative answers. 
The CEO also addressed concerns about the potential costs of serving these queries, latency, and monetization, expressing confidence in the company&#8217;s ability to manage these challenges. 
See Also: <a href="https://www.benzinga.com/news/24/04/38351566/mark-zuckerberg-didnt-sell-facebook-for-1b-but-would-he-have-sold-for-5t-this-was-meta-ceos-thought?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Didn't Sell Facebook For $1B But Would He Have Sold For $5T? This Was Meta CEO's Thought Process</a>
&#8220;People question whether these things would be costly to serve, and we are very, very confident we can manage the cost of how to serve these queries,&#8221; he said for new search experience. 
This announcement comes on the heels of Google&#8217;s strong first-quarter earnings, where the company beat analyst estimates on both the top and bottom lines for the fifth consecutive quarter. 
The company&#8217;s revenue increased by 15% year-over-year to $80.539 billion, surpassing the consensus estimate of $78.594 billion, according to data from Benzinga Pro.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this month, reports surfaced that Google was considering&nbsp;<a href="https://www.benzinga.com/news/24/04/38079174/alphabet-stock-initially-jumps-as-google-considers-charging-for-ai-search-the-details">charging users for AI-powered search</a>, a move that could potentially generate additional revenue for the company. 
As per the report by Financial Times, this development would mark the first time Google enclosed any segment of its fundamental Search product within a paywall. However, the tech giant&#8217;s traditional search engine will probably remain free of charge regardless.
Price Action: At the time of writing, Alphabet's Class A shares soared 11.6% in the after-hours session at $174.24, while the company's Class C shares shot up 11.4% at $176. The Class A and Class C shares closed nearly 2% lower at $156 and $157.95 respectively in the regular session, according to<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener"> Benzinga Pro data</a>.
Photo Courtesy: Wikimedia Commons
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Alphabet CEO 'Very, Very Confident' That It Won't Be 'Costly To Serve' Search Experience With Generative Answers

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) reported its first-quarter 2024 earnings, revealing a revenue of $36.45 billion, which <a href="https://www.benzinga.com/quote/META/earnings">surpassed analyst estimates</a>.
Despite this positive revenue performance, Meta Platforms&#8217; shares declined by 15% in after-market trading due to lower-than-expected revenue in the first quarter and a slightly disappointing outlook for the second quarter, coupled with increased expenses and capital expenditure forecasts for 2024.
Read: <a href="https://www.benzinga.com/news/earnings/24/04/38430266/meta-platforms-stock-is-tumbling-thursday-whats-going-on">Meta Platforms Stock Is Tumbling Thursday: What&#8217;s Going On?</a>
Meta expects operating losses for its Reality Labs division to significantly rise year-over-year. Mark Zuckerberg, Meta&#8217;s founder and CEO, expressed optimism, citing progress in AI development and metaverse building efforts.
Here&#8217;s what analysts have said about the earnings report.
<h1 class="wp-block-heading">JPMorgan On Meta</h1>
Analyst Doug Anmuth reiterated his Overweight rating on Meta while reducing the price target from $535 to $480 a share.
&#8220;Meta is more optimistic &amp; ambitious on AI than ever, and believes it can become the leading AI company in the world,&#8221; said Anmuth.
To this end, Meta&#8217;s management anticipates challenges in the coming months, including tough comparisons from 2023 regarding China advertiser spending, Reels monetization and engagement trends. Despite these challenges, Meta remains optimistic about its AI initiatives, believing they will yield significant long-term benefits. 
&#8220;We are encouraged that Meta's success w/Llama 3 and Meta AI has increased management's confidence in leading in AI,&#8221; he noted.
The company&#8217;s strong competitive position, focus on user experience and strategic alignment with AI and the metaverse suggest a promising future, per Anmuth. 
Despite the increased spending, analysts project double-digit revenue and EPS growth for Meta in 2025 and 2026, given its history of driving returns on investment.
<h1 class="wp-block-heading">Wedbush On Meta</h1>
Analyst Scott Devitt had an Outperform rating on Meta. Devitt too, reduced his price target on the stock from $570 to $480 a share.
Meta is &#8220;in the early stages of a multi-year investment cycle to support metaverse and AI initiatives that will likely take several years to scale adoption and monetization,&#8221; said Devitt.
Wedbush has adjusted its profit forecasts to account for Meta&#8217;s accelerated expense growth and increased capital expenditure in the coming years. For the near term, Devitt thinks &#8220;the setup will be challenging&#8221; and sees limited upside.
On a relative basis, Wedbush favors Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google (Outperform, Best Idea), within the group.
<h1 class="wp-block-heading">Needham On Meta</h1>
Analyst Laura Martin had an Underperform rating on Meta and no price target. Her recommendation: &#8220;use Meta as a source of funds,&#8221; implying investors should sell the stock as opposed to buying it.
Martin is skeptical about buying Meta stock for several reasons. 
<ul>
<li>Meta&#8217;s management suggests it is in a two- to three-year investment cycle before revenue growth materializes, which raises concerns about the stock&#8217;s potential. </li>
<li>The reliance on Chinese discount retailers like PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>)-owned Temu and Shein for over 20% of 2023 revenues may face challenges due to escalating geopolitical tensions between the U.S. and China. </li>
<li>Meta&#8217;s strategy of targeting hardware markets with low margins and competing directly against giants like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Google in the smartphone replacement market could be costly. </li>
<li>The company expects significant losses in 2024 for its Reality Labs division, which focuses on AR, VR, and the metaverse.</li>
<li>Its use of Open LLMs (large language models) is a cause for concern.</li>
<li>Meta&#8217;s heavy investments in LLMs and the metaverse may lower its return on invested capital (ROIC) in the short term.</li>
</ul>
Despite Meta&#8217;s 27% year-over-year revenue increase in the first quarter, Martin believes this could benefit other companies like Google, Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Trade Desk Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), and Magnite Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNI#NASDAQ">MGNI</a>). 
She ask, &#8220;Does META have a terminal value?&#8221; given the lack of control it has over its distribution or content.
<h1 class="wp-block-heading">Raymond James On Meta</h1>
Analyst Josh Beck had a Strong Buy rating on Meta and reduced his price target from $550 to $525 a share. Beck sees Meta on AI crossroads &#8220;where signs still point to a Buy.&#8221;
Beck sees the higher capital expenditure on AI in 2024 being driven by a desire to advance its state-of-the-art foundational models (FMs) with Llama 3 and train for future generations. This comes with potential training cost increases of 10x in 2024 and possibly another 10x in one to two years. 
Additionally, Meta is aggressively pursuing FM (Foundational Models) leadership as a potential &#8220;dark horse&#8221; in the open-source community, which could lead to new opportunities. RJ (GenAI deep dive) projected a $300 billion GenAI Software Stack market, with every 1% share potentially adding about two points to Meta&#8217;s revenue growth.
<h1 class="wp-block-heading">Rosenblatt On Meta</h1>
Analyst Barton Crockett had a Buy rating on Meta with a price target of $562 a share.
Crockett sees Meta &#8220;starting to hit an AI moment of truth.&#8221; Costs are increasing while sales are decelerating compared to previous periods, but there is optimism for a future acceleration driven by advancements in AI, he acknowledged, declaring, &#8220;We&#8217;re believers.&#8221;
<h1 class="wp-block-heading">Barclays On Meta</h1>
Barclays views Meta&#8217;s expanded capex announcement around AI, &#8220;as positive for ANET given META is one of the two major cloud companies that account for a large portion of ANET revenues. The company sees incremental runway for ANET as META builds out their AI data center infrastructure.&#8221;
<h1 class="wp-block-heading">Oppenheimer On Meta</h1>
Analyst Jason Helfstein maintained an Outperform rating on Meta and lowered the price target from $585 to $500 a share.
Helfstein said Meta Platforms is the world's largest social networking company, with 3.7 billion monthly users across all its properties. &#8220;While META&#8217;s historical advantage has been the social graph and the ability to share and follow pictures and videos uploaded by users (read Facebook), the company now believes it must evolve to use advanced algorithms to deliver content to users and leverage its social graph in the Metaverse.&#8221;
<h1 class="wp-block-heading">Roth MKM On Meta</h1>
Analyst Rohit Kulkarni had a Buy rating on the stock with a price target of $510 a share.
Kulkarni sees &#8220;AI moat now deeper&#8221; for Meta. He recommends that investors buy the stock on weakness.
&#8220;We believe META has entered a phase where ad load won&#8217;t be a primary driver of growth, and we might be at the beginning stages of AI-driven ad pricing growth,&#8221; Kulkarni noted.
<h1 class="wp-block-heading">Piper Sandler On Meta</h1>
Analyst Thomas Champion had an Overweight rating on Meta with a price target of $545 a share.
According to Champion, Meta still appears poised to increase market share, &#8220;but a &#8216;multi-year investment cycle has begun.&#8221; He sees Meta&#8217;s valuations as &#8220;undemanding at a 10%+ discount to the market.&#8221; 
While the timeline to AI monetization is a little uncertain, management appears to be investing behind a big opportunity,&#8221; he added.
<h1 class="wp-block-heading">BofA Securities On Meta</h1>
Analyst Justin Post gave Meta a Buy rating with a price target of $550 a share.
Post says Meta&#8217;s &#8220;momentum cycle likely over, but investing in the right places.&#8221; Post believes that platforms such as Reels, Messaging, and AI improvements are still in the early stages, with the potential to drive double-digit ad growth through 2025. There is also a possibility of upside related to the proposed TikTok ban.
<h1 class="wp-block-heading">KeyBanc Capital Markets On Meta</h1>
Analyst Justin Patterson rated Meta as Overweight and reduced his price target from $555 to $475 a share.
According to Patterson, Meta&#8217;s recent earnings report emphasized that its investment in AI is a long-term strategy spanning multiple years. However, challenging comparisons are &#8220;invoking fears of over-spending&#8221; and forming a &#8220;wall of worry.&#8221;
Patterson&#8217;s Overweight stance, however, rests on a simple notion. The advertising market is shifting towards favoring companies with scale, Meta is already making progress in this regard, with 30% of Facebook feed posts and over 50% of Instagram content being delivered through AI recommendation systems. 
While the timeline for revenue from AI agents is uncertain, Meta could emerge as one of the few strong players in the market once the transition is complete.
<h1 class="wp-block-heading">Benchmark on Meta</h1>
Analyst Mark Zgutowicz had a Hold recommendation on Meta stock with no price target.
According to Zgutowicz, Zuckerberg&#8217;s ambitious goal for Meta AI to become the best AI assistant in the world implies a long-term investment cycle spanning over five years, with multiple iterations of their Llama AI model. 
Despite this goal, the return profile for investors may remain unclear for the foreseeable future. In terms of 2024 revenue projections, Meta is expected to face challenges due to tough comparisons with Temu/Shein and a new reliance on impression pricing as the growth in Reels impressions over the past two years slows down naturally.
META Price Action: Meta stock is down 10.50% at $441.70 Thursday at publication.
Read Next: <a href="https://www.benzinga.com/news/24/04/38429948/meta-platforms-to-rally-around-14-here-are-10-top-analyst-forecasts-for-thursday">Meta Platforms To Rally Around 14%? Here Are 10 Top Analyst Forecasts For Thursday</a>
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Meta's Q1 Earnings: Most Analysts Support AI Strategy, While One Says 'Use Meta As A Source Of Funds,' Questions Its Long-Term Value

In a tumultuous day for tech stocks, the collective market value of the Magnificent 7 tech giants plummeted by over $300 billion in the first trading hour on Thursday, primarily fueled by a weaker-than-expected revenue outlook from Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and concerning economic indicators arising from the first-quarter<a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38429782/us-economy-grows-1-6-in-q1-slightly-below-expectations-as-price-pressures-weigh-o"> gross domestic product release.</a>
What Happened: Meta Platforms outperformed Wall Street's expectations with first-quarter revenue of $36.45 billion, a 27% increase year-over-year, and earnings per share of $4.71, beating the predicted $4.32. Investors pulled back after the social media giant issued subdued guidance <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">for the upcoming quarter.</a> 
The company&#8217;s forecast for the second quarter anticipates revenue between $36.5 billion and $39 billion, putting the lower end of the range below the consensus estimate of $38.3 billion. 
Additionally, the social media giant anticipates increases in infrastructure and legal costs — pushing full-year expenses to between $96 billion and $99 billion. 
Compounding the tech sector&#8217;s woes were the latest GDP figures released Thursday by the Bureau of Labor Statistics. 
The U.S. economy expanded at a significantly reduced pace of 1.6% on an annualized basis in the first quarter of 2024, a sharp deceleration from the previous quarter&#8217;s 3.4% growth rate and well below the forecasted 2.5%.
Inflation concerns were reignited with the Personal Consumption Expenditure (PCE) price indices for the first quarter showing an increase. 
The headline PCE price index accelerated from 1.8% in the previous quarter to 3.4% , while the core PCE price index, which excludes food and energy prices and is a key inflation measure for the Federal Reserve, climbed from 2% to 3.7%, surpassing expectations of 3.4%.
Read also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">US Growth Slows In Q1, Yet Inflation Acceleration Signals Stagflation: &#8216;The Worst Possible Outcome For The Fed&#8217;</a>
<h3 class="wp-block-heading">Mag7 Stocks, Bond Market React</h3>
The Magnificent Seven had cumulatively wiped out $303 billion of market value by 11 a.m. in New York. 
Meta suffered the heaviest losses, down 13%, shedding $143 billion alone. Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) also sharply contributed to the tech market rout, wiping out $126 billion, down 4.3% ahead of the company&#8217;s earnings report after the market close. 
Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) both witnessed similar declines, while Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) managed to avoid losses. 
NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) saw some gains, outperforming the basket.
The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) fell 3%. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Market Cap</th>
<th>Market Cap Loss/Gain (1-day)</th>
<th>1-Day % Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Microsoft Corporation</td>
<td>$2,905.08B</td>
<td>-$128.47B</td>
<td>-4.37%</td>
</tr>
<tr>
<td>Apple Inc.</td>
<td>$2,602.88B</td>
<td>-$7.08B</td>
<td>-0.27%</td>
</tr>
<tr>
<td>NVIDIA Corporation</td>
<td>$2,018.70B</td>
<td>+$59.39B</td>
<td>+2.94%</td>
</tr>
<tr>
<td>Alphabet Inc.</td>
<td>$1,933.75B</td>
<td>-$54.09B</td>
<td>-2.76%</td>
</tr>
<tr>
<td>Amazon.com, Inc.</td>
<td>$1,783.97B</td>
<td>-$51.15B</td>
<td>-2.81%</td>
</tr>
<tr>
<td>Meta Platforms, Inc.</td>
<td>$1,101.35B</td>
<td>-$132.35B</td>
<td>-13.17%</td>
</tr>
<tr>
<td>Tesla, Inc.</td>
<td>$528.24B</td>
<td>+$11.44B</td>
<td>+1.60%</td>
</tr>
<tr>
<td>Total</td>
<td>$12,873.97B</td>
<td>-$302.91B</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 11:00 a.m. ET. </figcaption></figure>
Treasury yields, particularly the two-year note, surged past 5%, reflecting heightened investor anxiety over inflation and its potential implications for future Federal Reserve actions. 
This resulted in a broad sell-off in bonds, with significant losses noted in long-term treasury ETFs such as the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), which declined 0.8%.
The broader stock market also felt the pinch, with major indices recording significant losses. 
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and the tech-heavy Nasdaq 100 index, as tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), fell by 1.4% and 1.7%, respectively. 
Notably, the communication services sector was among the hardest hit, with the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) plunging 4.4%, marking its worst session since October 2022.
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38415577/tesla-posts-strongest-session-since-january-2022-is-a-trend-reversal-underway">Tesla Posts Strongest Session Since January 2022: Is A Trend Reversal Underway?</a>
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Large Cap

Macro Economic Events

Macro Notification

Sector ETFs

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Broad U.S. Equity ETFs

Treasuries

Econ #s

Economics

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Intraday Update

ETFs

MAGS

iShares Trust Barclays 20+ Year Treasury Bond Fund

Magnificent 7 Tumble, Wipe Out $300 Billion On Meta's Weak Guidance, Q1 Stagflation Woes

Investments in Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) have yielded substantial returns for retail investors.
What Happened: Retail investors have seen their investments in Nvidia grow exponentially, Business Insider <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-retail-investors-gains-generational-wealth-ai-chips-gpus-2024-4">reported</a> based on the review of brokerage and account statements. 
Tom, an Nvidia investor from New Jersey, states that he made an initial investment in the tech giant worth $62,000 in 2011 and 2022. His investments have now ballooned to a $3 million stake. He attributes his success to diligent research and good timing, recognizing Nvidia&#8217;s pivotal role in the development of GPUs.
Nvidia&#8217;s transition from a gaming giant to an AI leader, especially during the early days of the pandemic, has been a significant driver of its stock&#8217;s growth. The company&#8217;s GPUs have become crucial for powering AI programs such as OpenAI&#8217;s ChatGPT, which was launched in November 2022.
See Also: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Salaries While It Learns To Navigate Shipping Slump</a>
According to Vanda Research, Nvidia has now overtaken Apple Inc., Tesla Inc., and SPY, the most popular S&amp;P 500 exchange-traded fund, to become the top stock among retail investors.
Other investors, like Danial and Rick, who started investing in Nvidia in 2016 and 2009 respectively, have also seen substantial returns on their investments, despite occasional market downturns.
Why It Matters: In April, Nvidia <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38346847/nvidia-in-correction-territory-did-ai-led-tech-stock-bubble-just-burst-this-data-po">experienced a market sell-off</a> led by high-profile tech stocks, which had been the rally leaders since 2023. Despite the sell-off, CNBC&#8217;s Jim Cramer highlighted Nvidia&#8217;s positive performance and its <a href="https://www.benzinga.com/markets/equities/24/04/38368953/jim-cramer-sees-nvidia-as-going-from-star-of-the-show-to-being-the-goat-of-the-game">4% rise following a 10% drop</a>.
Nvidia&#8217;s powerful chips have attracted <a href="https://www.benzinga.com/news/24/04/38402981/elon-musks-big-bet-tesla-to-ramp-up-ai-development-with-nvidias-powerful-chips">significant customers like Tesla Inc.</a> and <a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber">Meta Platforms Inc.</a>, further bolstering its position in the AI sector. 
Read Next: <a href="https://www.benzinga.com/insights/options/24/04/38361488/palantir-technologies-unusual-options-activity-for-april-22?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir Technologies Unusual Options Activity For April 22</a>
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Nvidia Investments Shower Retail Investors With Massive Returns Despite Few Cloudy Days: Report

Taiwan Semiconductor Manufacturing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) announced on Wednesday that its new chip manufacturing technology, &#8220;A16,&#8221; will start production in the second half of 2026.
The 1.6-nm chipmaking technology will position TSMC against&nbsp;Intel Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) in a competition to produce the world&#8217;s fastest chips.&nbsp;
TSMC, the largest contract manufacturer of advanced computing chips and a crucial supplier to&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), announced this at a Santa Clara, California conference, Reuters reports.&nbsp;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25032757/newplot-28.png" alt="" class="wp-image-308056" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25032757/newplot-28.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/25032757/newplot-28-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38320280/amd-and-intel-lead-the-ai-revolution-in-data-centers-highlighting-advanced-gpu-breakthroughs" rel="noreferrer noopener">AMD and Intel Lead the AI Revolution in Data Centers, Highlighting Advanced GPU Breakthroughs</a>
TSMC executives indicated that AI chip manufacturers would likely be the first to adopt this technology, unlike smartphone companies.
Intel had already voiced the availability of 20A and 18A (2-nm and 1.8-nm) technologies by 2025, Nikkei Asia&nbsp;<a target="_blank" href="https://asia.nikkei.com/Business/Tech/Semiconductors/TSMC-aims-to-produce-ultra-advanced-1.6-nm-chips-by-2026#:~:text=TAIPEI%20%2D%2D%20Taiwan%20Semiconductor%20Manufacturing,leadership%20over%20the%20next%20decade." rel="noreferrer noopener">reports</a>.
It had showcased its 14A (1.4-nm)&nbsp;technology&nbsp;in 2024. Meanwhile,&nbsp;Samsung Electronics Co&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) is targeting&nbsp;commercialization of&nbsp;the 1.4-nm level in 2027.
Analysts speaking to Reuters said the technologies TSMC unveiled on Wednesday could challenge Intel&#8217;s February claims of surpassing TSMC with its new &#8220;14A&#8221; technology.&nbsp;
Kevin Zhang, TSMC&#8217;s Senior Vice President of Business Development, told reporters that the company accelerated the development of its A16 chipmaking process due to demand from AI chip firms.
Zhang also stated that TSMC does not see the need to use&nbsp;ASML Holding NV&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) new &#8220;High NA EUV&#8221; lithography tool machines for constructing A16 chips.&nbsp;
In contrast, Intel recently disclosed plans to be the first to use these machines, priced at $373 million each, for its 14A chip development.
Furthermore, TSMC introduced a new technology for delivering power to computer chips from the backside, which will be available in 2026 and enhance the speed of AI chips.&nbsp;
In April, TSMC reported&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38179645/taiwan-semi-clocks-double-digit-q1-revenue-growth-eyes-robust-2024-amid-ai-boom" rel="noreferrer noopener">first-quarter revenue</a>&nbsp;of $18.5 billion, up by&nbsp;16% year-on-year, versus the $18.4 billion analyst consensus estimate, thanks to the artificial technology frenzy.&nbsp;
It expects capital expenditures of $28 billion—$32 billion and revenue growth of at least 20% in 2024.
Taiwan Semiconductor&nbsp;stock gained 62% in the last 12 months. Investors can gain exposure to the stock via&nbsp;VanEck Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and&nbsp;IShares Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>).
Price Action:&nbsp;TSM shares are trading lower by 1.02% at $131.62 premarket&nbsp;at the last check on Thursday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38411133/samsungs-latest-3d-nand-memory-chips-transform-ai-data-centers-and-mobile-devices" rel="noreferrer noopener">Samsung&#8217;s Latest 3D NAND Memory Chips Transform AI Data Centers and Mobile&nbsp;Devices</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Jack Hong via Shutterstock

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Taiwan Semi Sets 2026 Launch for A16 Chip Technology, Aiming to Outpace Intel in Speed

The lead marketer for&nbsp;Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Vision Pro headset,&nbsp;Frank Casanova, has retired, just months <a href="https://www.benzinga.com/news/24/04/38136012/apple-vision-pros-immersive-content-library-to-expand-with-a-dinosaur-film-iphone-16-to-further-boos">after the headset&#8217;s launch</a> and amid a significant drop in demand.
What Happened: Casanova who departed from the tech giant last week had been with Apple for 36 years. He has played a pivotal role in the marketing of the Vision Pro headset along with helping to lead the expansion of the iPhone to new carriers, <a href="https://www.bloomberg.com/news/articles/2024-04-24/apple-s-lead-marketer-for-new-vision-pro-headset-retires?srnd=technology-vp">reported</a>&nbsp;Bloomberg, citing his LinkedIn page. 
The Vision Pro was made available for purchase in early February with a base price of $3,499. Casanova participated in its launch at Apple&#8217;s flagship retail store in the Grove shopping mall in Los Angeles, accompanied by services chief Eddy Cue. 
Dan Riccio, the executive responsible for the development of the device, is approaching retirement.
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Why It Matters: The retirement of key personnel comes at a critical time for Apple&#8217;s headset business. The Cupertino, California-based tech giant has plans to <a href="https://www.benzinga.com/news/24/03/37910624/apple-sets-sight-on-china-vision-pro-headset-launching-this-year">expand its market to China</a>, a move confirmed by CEO&nbsp;Tim Cook&nbsp;last month, in a video shared on a CCTV account on Weibo.
However, the demand for the Vision Pro has reportedly&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38397921/apple-in-trouble-tim-cook-reportedly-cuts-vision-pro-shipment-forecasts-by-up-to-50">fallen sharply</a>, leading to a significant drop in shipment forecasts. This has forced Apple to re-evaluate its headset business strategy, as noted by analyst&nbsp;Ming-Chi Kuo. The company has reportedly revised its Vision Pro shipment estimates to 400,000-450,000 units for this year, down from the initial 700,000-800,000 units.&nbsp;
Apple&#8217;s struggles in China are not limited to the headset market. The company also faced a <a href="https://www.benzinga.com/government/24/03/37941515/apples-iphone-sales-faces-sharp-decline-in-china-amid-rising-competition">sharp decline in iPhone sales</a> in the country, with a 33% drop in February compared to the last year. 
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/government/24/04/38350596/former-gop-hopeful-nikki-haley-joins-calls-for-tiktok-ban-to-stop-infiltration-of-chinese-communist?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Vision Pro: Why Some Users Have Decided To Return The Headset While Others Can&#8217;t Imagine Going Back Living The Same Way</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image courtesy &#8211; Apple

Apple's Top Marketer For Vision Pro Bids Farewell After 36 Years At Cupertino Amid Demand Slump

Mark Zuckerberg, the CEO of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), has seemingly <a href="https://www.benzinga.com/general/gaming/24/02/37305770/mark-zuckerberg-on-a-mission-to-outdo-apple-vision-pro-meta-ceo-reportedly-eyes-south-korean-colla">taken a dig</a> at Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Vision Pro.
What Happened: Zuckerberg expressed his skepticism about the mainstream success of augmented reality (AR) glasses, particularly those without &#8220;full holographic displays," in a subtle jab at Apple Vision Pro during Meta&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">first-quarter earnings call</a>.
&#8220;Now, it seems pretty clear that there&#8217;s also a meaningful market for fashionable AI glasses without a display."
Meta&#8217;s latest version of Ray-Ban smart glass, <a href="https://www.benzinga.com/general/entertainment/23/09/34964097/watch-mark-zuckerberg-unveils-metas-ai-smart-glasses-that-can-decode-anything-youre-looking">launched in September</a>, starts at $299 and comes with Meta AI, a camera, call-making capabilities, and built-in speakers.
Zuckerberg also emphasized the potential of these glasses as a &#8220;pretty meaningful and growing platform sooner than then I would have expected so.&#8221;
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Despite Meta&#8217;s Quest virtual reality headset competing with Apple&#8217;s Vision Pro, Zuckerberg has previously stated that he does not envision a future where people walk around with virtual reality headsets.
See Also: <a href="https://www.benzinga.com/news/24/04/38422652/jensen-huang-hand-delivers-nvidias-first-dgx-h200-gpu-to-openais-sam-altman-to-advance-ai-computing">Jensen Huang Hand-Delivers Nvidia&#8217;s First DGX H200 GPU To OpenAI&#8217;s Sam Altman To &#8216;Advance AI, Computing, And Humanity&#8217;</a>
Why It Matters: This isn&#8217;t the first time Zuckerberg has taken a swipe at the Apple Vision Pro. In February, he <a href="https://www.benzinga.com/general/entertainment/24/02/37116135/mark-zuckerberg-finally-tries-apples-vision-pro-and-says-metas-quest-3-is-the-better-produc">posted a video</a> reviewing Apple&#8217;s competing device, stating that the Quest not only had better value but was also &#8220;the better product period.&#8221;
This was echoed by Meta&#8217;s CTO, Andrew Bosworth, who <a href="https://www.benzinga.com/general/entertainment/24/02/37175237/metas-tech-chief-echoes-zuckerbergs-review-of-apple-vision-pro-says-way-too-much-weight-dis">highlighted several issues</a> with the Vision Pro, dismissing reports about its technological superiority.
In March, Zuckerberg also <a href="https://www.benzinga.com/news/24/03/37616210/mark-zuckerberg-refutes-analysts-claim-quest-not-basically-just-the-same-as-apples-vision-pro">refuted the notion</a> that the Vision Pro was comparable to Meta&#8217;s Quest lineup.
Meanwhile, Apple&#8217;s Vision Pro has been facing challenges, with reports of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38397921/apple-in-trouble-tim-cook-reportedly-cuts-vision-pro-shipment-forecasts-by-up-to-50">a significant drop in demand</a> leading to a cut in shipment forecasts by up to 50%.
Price Action:&nbsp;Meta stock closed 0.52% lower at $493.50 on Wednesday, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38420928/meta-ceo-mark-zuckerberg-more-than-50-of-the-content-people-see-on-instagram-is-now-ai-recommended" target="_blank" rel="noreferrer noopener">Meta CEO Mark Zuckerberg: ‘More Than 50% Of The Content People See On Instagram Is Now AI Recommended'</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Ray-Ban

Mark Zuckerberg Shades Apple Vision Pro Once Again, Calls It 'Fashionable AI Glasses Without A Display'

Mark Zuckerberg, the CEO of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), detailed the company&#8217;s vision for AI development, hinting at a shift from chatbots to more advanced AI &#8216;agents.&#8217;
What Happened: Zuckerberg, during Meta&#8217;s first quarter 2024 <a href="https://seekingalpha.com/article/4685907-meta-platforms-inc-meta-q1-2024-earnings-call-transcript">earnings call</a>, discussed the future of AI, emphasizing the transition from chatbots to AI agents. He explained that these agents would be capable of handling more complex tasks and goals, performing numerous queries to achieve the desired outcome.
&#8220;The next phase for a lot of these things are handling more complex tasks and becoming more like agents rather than just chatbots,&#8221; Zuckerberg said. 
He also highlighted the potential for more sophisticated interactions, especially in business use cases, and the significant role these AI agents could play in guiding users through various processes.
&#8220;An agent is going to do is you give it an intent or a goal, then it goes off and probably actually performs many queries on its own in the background in order to help accomplish your goal,&#8221; said the Meta CEO. 
Zuckerberg expressed confidence in Meta&#8217;s ability to develop leading AI models and reaffirmed the company&#8217;s long-term commitment to AI investment.
Deepwater Asset Management&#8216;s Gene Munster sees Zuckerberg&#8217;s Agentic AI vision as the future, believing in its potential and predicting Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) will follow suit.
&#8220;Look for $AAPL to go after the same Holy Grail,&#8221; Munster said on social media platform X.<a href="https://twitter.com/munster_gene/status/1783255102486196359"></a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Zuckerberg ends the call with his vision of building Agentic AI. These go beyond generative AI that you prompt. They are agents that get things done for you. That could be research a topic, buy something, etc. This is also know as personalized AI, and I&#39;m a big believer in…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1783255102486196359?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Speeds Launch Of New Models</a>
Why It Matters: This announcement comes in the wake of Meta&#8217;s Q1 2024 earnings report, which revealed a <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">27% year-over-year</a> revenue increase. 
Despite this positive performance, the company&#8217;s stock experienced a <a href="https://www.benzinga.com/news/24/04/38421280/metas-stock-plunge-after-q1-numbers-an-overreaction-to-zuckerbergs-capex-move-says-gene-munster-he-w">17% plunge</a> following Zuckerberg&#8217;s announcement of scaling capex and energy expenses for AI.
Earlier, Zuckerberg had also revealed that <a href="https://www.benzinga.com/news/24/04/38420928/meta-ceo-mark-zuckerberg-more-than-50-of-the-content-people-see-on-instagram-is-now-ai-recommended">over 50% of Instagram&#8217;s content</a> and 30% of Facebook&#8217;s posts are now recommended by AI.
Price Action:&nbsp;Meta shares declined 15.1% after hours to $418.85 after closing 0.52% lower at $493.5 in the regular session, according to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38368953/jim-cramer-sees-nvidia-as-going-from-star-of-the-show-to-being-the-goat-of-the-game?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Sees Nvidia As Going &#8216;From Star Of The Show To Being The Goat Of The Game&#8217;</a>
Image Credits &#8211; Shutterstock
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://benzinga.com/apis" target="_blank" rel="noreferrer noopener"></a>

Global

Mark Zuckerberg Shifts Meta's Focus To AI 'Agents' Over Chatbots: Apple To Pursue Similar 'Holy Grail,' Predicts Gene Munster

Spotify Technology SA&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) second attempt to update its iOS app in the EU has been thwarted by Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) due to non-compliance with its App Store rules.
What Happened: The update for <a href="https://www.benzinga.com/markets/equities/24/03/37454551/apple-hit-with-a-1-95b-fine-in-eu-in-spotify-antitrust-case">Spotify&#8217;s app in the App Store</a> has been put on hold as the streaming service failed to adhere to the regulations allowing links to external sites for purchases, <a href="https://appleinsider.com/articles/24/04/24/spotify-second-ios-app-update-attempt-in-eu-fails-to-pass-app-store-review">reported</a> AppleInsider on Wednesday.
Apple has introduced new rules for developers&nbsp;to <a href="https://www.benzinga.com/news/24/03/37507425/from-search-to-flights-google-tweaks-everything-for-eus-digital-markets-act">comply with EU legislation</a>, such as the Digital Markets Act. However, not all apps have followed these guidelines.
Apple has&nbsp;created a Music Streaming Services&nbsp;Entitlement for the EEA storefronts, which&nbsp;allows streaming services to use&nbsp;external links, buttons, and calls&nbsp;to action to direct users to a developer&#8217;s website for purchases&nbsp;outside of Apple&#8217;s In-App Purchase&nbsp;mechanism.
See Also: <a href="https://www.benzinga.com/news/24/04/38368777/apple-planning-soccer-broadcasting-foray-with-fifa-after-major-league-rights-success-report">Apple Planning Soccer Broadcasting Foray With FIFA After Major League Rights Success: Report</a>
The App Review team at Apple sent an email to Spotify, stating&nbsp;that version 8.9.33 of Spotify&#8217;s&nbsp;app was stopped from being published to the App Store. This version of the app was designed&nbsp;for the European Economic Area&nbsp;or EEA storefronts.
&#8220;We note that your current submission includes a call to action to purchase a Spotify subscription on your website. As such, you must accept the terms of the Music Streaming Services Entitlement (EEA) and include the entitlement profile in your app for submission,&#8221; the email read. 
Adding, &#8220;To be clear, this entitlement is required even if your app does not include an external link (nor does it require that you offer an external link). We will, however, approve version 8.9.33 after you accept the terms of the Music Streaming Services Entitlement (EEA) and resubmit it for review.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
It is unclear if the&nbsp;app will be blocked in&nbsp;other territories, but since it&nbsp;is an EEA-specific issue, it&nbsp;should be allowed elsewhere.
Why It Matters: This development comes after Spotify&#8217;s&nbsp;<a href="https://www.benzinga.com/24/04/38388246/spotifys-first-quarter-tells-a-story-of-record-profit-and-an-epic-win">record-breaking first quarter</a>&nbsp;in 2024, where the company reported a 20% year-over-year increase in revenue to 3.64 billion euros. This was attributed to efficient cost-cutting initiatives that also brought significant margin improvements.
Spotify&#8217;s stock, however, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38414644/spotify-stock-sheds-all-gains-after-q1-earnings-but-analysts-are-impressed-with-the">shed all its gains</a> after the first quarter earnings report, but analysts were still impressed with the company&#8217;s performance. J.P. Morgan analyst Doug Anmuth maintained Spotify with an Overweight and raised the price target from $320 to $365.
Photo via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tucker Carlson Saying There&#8217;s &#8216;Ton Of Evidence&#8217; That Aliens Live Among Us: &#8216;With 6000 Satellites Orbiting Earth, I Think I Would Know&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

SPOT

Spotify Tries To Push iOS Update In EU Again, Gets Rebuffed By Apple Over App Store Terms

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&#8217;s Vision Pro, despite a reduced sales forecast, has caught the attention of Jim Cramer, who believes the product could revolutionize the industrial sector.
What Happened: Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; expressed his optimism about the potential of Apple&#8217;s Vision Pro in a recent episode, <a href="https://www.cnbc.com/2024/04/24/cramers-bullish-on-apples-vision-pro-highlights-enterprise-use.html">reported</a> CNBC. 
He suggested that the product, which is currently being marketed as a consumer device, could be repositioned as an enterprise product.
He pointed out that the Vision Pro could be a valuable tool for the industrial sector, especially with the digital twin technology, which allows users to simulate potential changes before implementing them in reality.
See Also: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Salaries While It Learns To Navigate Shipping Slump</a>
&#8220;The construction of factories is the largest business in the world,&#8221; Cramer said. &#8220;If you could cut waste and test out potential changes on the Vision Pro before you put them in reality — and that&#8217;s what&#8217;s known as a digital twin — then I say that $3,500 price tag is way too cheap.&#8221;
Despite a recent report that Apple is reducing its Vision Pro shipment forecast due to a decrease in demand, Cramer remains bullish on the product. 
He highlighted that Apple&#8217;s ability to sell 400,000 units of a $3,500 product, which is still in the process of having software developed for it, is a strong indicator of the product&#8217;s success.
Why It Matters: The Vision Pro has been a subject of interest for Cramer in the past. In June, he <a href="https://www.benzinga.com/markets/equities/23/06/32829441/apple-vision-pro-headset-too-expensive-jim-cramer-explains-why-the-3-499-price-tag-may-not-matte">argued that the steep price tag</a> of the Vision Pro could be justified by its potential to pave the way for more affordable headsets. 
However, in July, he <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/07/33136437/laser-eyes-why-jim-cramer-says-everyone-will-have-apple-vision">dismissed concerns about</a> Apple&#8217;s reduced production forecasts, stating that it wouldn&#8217;t affect the product&#8217;s success.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock</a>
Image Via Shutterstock 
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Jim Cramer Sees Apple's Vision Pro As A Game-Changer For Industrial Sector: '$3,500 Price Tag Is Way Too Cheap'

U.S. President Joe Biden&#8216;s recent signing of legislation has thrown ByteDance&#8217;s TikTok into the spotlight, with CEO Shou Zi Chew saying <a href="https://www.benzinga.com/news/24/03/38001945/amid-us-china-tussle-tiktok-content-creators-worry-about-bread-and-butter-if-app-ban-succeeds">the platform will fight back.</a>
&#8220;Make no mistake, this is a ban, a ban on TikTok and a ban on you and your voice,&#8221; the CEO said in a two-minute&nbsp;<a href="https://www.tiktok.com/@tiktok/video/7361448925972155679" target="_blank" rel="noreferrer noopener">video</a>&nbsp;posted to TikTok&#8217;s main corporate account.
See Also: <a href="https://www.benzinga.com/news/24/04/38372058/analyst-predicts-tiktok-shutdown-in-us-by-next-year-ahead-of-senate-vote-will-not-operate-here">Analyst Predicts TikTok Shutdown In US By Next Year Ahead Of Senate Vote: &#8216;Will Not Operate Here&#8230;&#8217;</a>
Chew&#8217;s statement, delivered Wednesday, April 24, continued: &#8220;Politicians may say otherwise. But don't get confused. Many who sponsored the bill admit a TikTok ban is their ultimate goal.&#8221;
The legislation, part of a $95 million foreign aid package supporting Israel and Ukraine, was widely supported by the U.S. Senate and the House of Representatives.
It gives ByteDance, TikTok&#8217;s parent company, 270 days to find new owners. If ByteDance fails to comply, TikTok faces removal from Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google app stores in the U.S., People magazine <a href="https://people.com/tiktok-ceo-says-we-arent-going-anywhere-biden-signs-potential-ban-into-law-8638226">reported. </a>
Additionally, there&#8217;s a provision for a three-month extension if a sale is in progress by the initial deadline.
<h1 class="wp-block-heading">ByteDance&#8217;s TikTok Fights Back Against Ban</h1>
TikTok&#8217;s uncertain future stems from discussions that began during the COVID-19 pandemic. Former President Donald Trump initially proposed banning the app in April 2020, a move later paused by the Biden administration in February 2021. Currently, TikTok boasts 170 million American users.
The legislation presents concerns about security, with fears that TikTok could be used for Chinese surveillance or data access. TikTok denies these allegations, and the Chinese government asserts there&#8217;s no evidence supporting claims of national security threats. 
TikTok plans to challenge the legislation, citing freedom of speech. In his video, Chew expressed confidence in their legal fight: &#8220;Rest assured, we aren&#8217;t going anywhere.&#8221; 
&#8220;We are confident and we will keep fighting for your rights in the courts&#8230; The facts and the U.S. Constitution are on our side, and we expect to prevail again,&#8221; he added. 
<h1 class="wp-block-heading">Can I Keep Using TikTok? Exploring The Ban&#8217;s Impact</h1>
Don&#8217;t worry, TikTok won&#8217;t just vanish from your phone overnight.
It&#8217;s likely to be at least a year before any ban takes effect, with potential legal challenges possibly extending the timeline further. While TikTok has succeeded in court before, this marks a new challenge against federal legislation.
Concerning your TikTok app, it&#8217;s unlikely to disappear from your phone immediately. However, if the ban goes into effect it may vanish from Apple and Google&#8217;s app stores, meaning no new downloads, updates, or fixes, as <a href="https://www.nbcnewyork.com/news/national-international/tiktok-ban-us-what-to-know/5350848/#:~:text=No%2C%20TikTok%20will%20not%20suddenly%20disappear%20from%20your%20phone.">per</a> NBC New York. 
Over time, this could pose security risks and usability challenges.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358239/microsoft-and-oracle-could-be-tiktoks-likely-buyers-but-real-winners-would-be-mark-">Microsoft And Oracle Could Be TikTok&#8217;s &#8216;Likely Buyers,&#8217; But Real Winners Would Be Mark Zuckerberg And Sundar Pichai</a>
Photo: <a href="https://www.shutterstock.com/es/g/salarko">salarko</a> on Shutterstock.

Asia

Politics

TikTok Fights Back, 'We Aren't Going Anywhere': What's Next For Users?

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$140.00</td>
<td>$84.1K</td>
<td>48.1K</td>
<td>35.9K</td>
</tr>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$830.00</td>
<td>$178.7K</td>
<td>7.1K</td>
<td>32.5K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$167.50</td>
<td>$44.4K</td>
<td>3.7K</td>
<td>3.9K</td>
</tr>
<tr>
<td>INTC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$30.00</td>
<td>$29.2K</td>
<td>34.3K</td>
<td>3.1K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$410.00</td>
<td>$40.9K</td>
<td>4.1K</td>
<td>2.8K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$750.00</td>
<td>$60.0K</td>
<td>744</td>
<td>1.8K</td>
</tr>
<tr>
<td>TXN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$175.00</td>
<td>$39.4K</td>
<td>2.6K</td>
<td>1.4K</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/03/24</td>
<td>$9.50</td>
<td>$84.7K</td>
<td>894</td>
<td>1.1K</td>
</tr>
<tr>
<td>PLTR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$17.00</td>
<td>$29.5K</td>
<td>9.3K</td>
<td>712</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$157.50</td>
<td>$44.2K</td>
<td>205</td>
<td>395</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we notice a call option sweep that happens to be bullish, expiring in 58 day(s) on June 21, 2024. This event was a transfer of 198 contract(s) at a $140.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $84.1K, with a price of $425.0 per contract. There were 48116 open contracts at this strike prior to today, and today 35969 contract(s) were bought and sold. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option sweep that happens to be bullish, expiring in 2 day(s) on April 26, 2024. This event was a transfer of 222 contract(s) at a $830.00 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $178.7K, with a price of $805.0 per contract. There were 7103 open contracts at this strike prior to today, and today 32593 contract(s) were bought and sold. 
• For AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we notice a call option trade that happens to be bullish, expiring in 9 day(s) on May 3, 2024. This event was a transfer of 100 contract(s) at a $167.50 strike. The total cost received by the writing party (or parties) was $44.4K, with a price of $444.0 per contract. There were 3751 open contracts at this strike prior to today, and today 3976 contract(s) were bought and sold. 
• Regarding INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we observe a put option sweep with bullish sentiment. It expires in 268 day(s) on January 17, 2025. Parties traded 150 contract(s) at a $30.00 strike. This particular put needed to be split into 28 different trades to become filled. The total cost received by the writing party (or parties) was $29.2K, with a price of $195.0 per contract. There were 34393 open contracts at this strike prior to today, and today 3198 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a call option trade that happens to be bullish, expiring in 2 day(s) on April 26, 2024. This event was a transfer of 50 contract(s) at a $410.00 strike. The total cost received by the writing party (or parties) was $40.9K, with a price of $820.0 per contract. There were 4175 open contracts at this strike prior to today, and today 2893 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a call option trade that happens to be bullish, expiring in 2 day(s) on April 26, 2024. This event was a transfer of 20 contract(s) at a $750.00 strike. The total cost received by the writing party (or parties) was $60.0K, with a price of $3000.0 per contract. There were 744 open contracts at this strike prior to today, and today 1816 contract(s) were bought and sold. 
• For TXN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), we notice a put option sweep that happens to be bullish, expiring in 58 day(s) on June 21, 2024. This event was a transfer of 58 contract(s) at a $175.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $39.4K, with a price of $680.0 per contract. There were 2676 open contracts at this strike prior to today, and today 1438 contract(s) were bought and sold. 
• For RIOT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), we notice a call option sweep that happens to be neutral, expiring in 9 day(s) on May 3, 2024. This event was a transfer of 294 contract(s) at a $9.50 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $84.7K, with a price of $288.0 per contract. There were 894 open contracts at this strike prior to today, and today 1163 contract(s) were bought and sold. 
• For PLTR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), we notice a put option sweep that happens to be bullish, expiring in 58 day(s) on June 21, 2024. This event was a transfer of 701 contract(s) at a $17.00 strike. This particular put needed to be split into 24 different trades to become filled. The total cost received by the writing party (or parties) was $29.5K, with a price of $42.0 per contract. There were 9339 open contracts at this strike prior to today, and today 712 contract(s) were bought and sold. 
• Regarding AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we observe a call option sweep with bullish sentiment. It expires in 23 day(s) on May 17, 2024. Parties traded 68 contract(s) at a $157.50 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $44.2K, with a price of $650.0 per contract. There were 205 open contracts at this strike prior to today, and today 395 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

PLTR

10 Information Technology Stocks Whale Activity In Today's Session

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Trump Media &amp; Technology Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/djt-stock-quote/">DJT</a>) stock, the Donald Trump media project that recently went public to much fanfare, has the tumultuous nature of meme stock. Shares soared on their first availability, then plunged, but are starting to rise once more.



None of it has to do with Trump Media&rsquo;s financials. The company reported over $4 million in sales last year but <a href="https://apnews.com/article/donald-trump-truth-social-2023-losses-6a6504f244c3130e102d11c40ad0d7ff">also a $60 million loss</a>. That kind of disparity would have sunk a different company. Trump&rsquo;s personality has contributed to DJT stock&rsquo;s 81% increase in 2024.



<h2>A Closer Look at DJT Stock</h2>



For more sober investors who aren&rsquo;t actively rooting for or against the former president and trading on their emotions, we need to decide whether this social media company is a good investment on its merits.



Creating a social media company with critical mass is no easy feat, and doing it profitably is even more so.



X (formerly Twitter) still struggles to make money after 18 years. Elon Musk has made the platform monetized through ads and user fees. Trump Media might have a more difficult time.



Truth Social, DJT&rsquo;s social media platform, <a href="https://www.nytimes.com/2024/04/18/technology/truth-social-right-wing-apps.html">recorded 1.5 million unique users</a> in March, according to data from SimilarWeb. 



That was a 130% surge from February and probably had more to do with people wanting to check out the Trump site as the company began trading publicly. In contrast, X had 115 million monthly users.



Still, Truth Social had far more users than either Parler or Gab. Those sites, however, were the victim of Big Tech conspiring to <a href="https://www.bloomberg.com/news/articles/2021-01-11/parler-trump-bans-show-big-tech-s-power-over-web-conversation">limit access to their sites</a>. 



Parler, for example, saw its platform pulled from Alphabet&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) Google, Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) and Amazon (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>).



It had once been the fast-growing app and was cut off at the knees through tech&rsquo;s concerted efforts.



They&rsquo;re not likely to take on the former president again, however. 



Although Trump was banned from social media after losing the last election, Musk restored his privileges after buying the platform and others followed suit.



<h2>Joined at the Hip</h2>



DJT stock is going to be volatile, at least throughout the presidential election. If Trump wins the White House again in November, it could extend further. A loss might cut short any nascent growth it might possess.



While investors need to separate the social media platform from the president, the business itself can&rsquo;t. It highlights the risk of being so closely tied to a larger-than-life personality. 



While Steve Jobs at Apple wasn&rsquo;t quite the same, at least initially the company&rsquo;s fortunes rose and fell with his presence or absence.



Trump Media &amp; Technology needs time to mature into a vehicle separate from Trump. The social media platform has big plans. Streaming video and becoming a home for alternative media and content creators. It could be big.



Yet a large driving force behind Truth Social was creating a safe space for alternative views that were banned by other social media sites. Now, with Musk a fairly strong free speech advocate, the impetus behind the startup site is now diminished.



<h2>Now Is Not the Time</h2>



The mainstream media is in decline and in large part has written off large swaths of a potential audience. 



In choosing to cater to an ideological base, media has limited its potential. And yet that is what Trump Media is doing too, perhaps of necessity, but definitely a limiting factor.



Amid the wild swings in DJT stock, it&rsquo;s hard to argue in favor of an investment here. There is just too much volatility unrelated to the actual business of Trump Media &amp; Technology. And that means most investors should just stay on the sidelines.



On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/04/trump-media-stocks-wild-ride-should-you-jump-on-board-or-steer-clear-djt-stock/">Trump Media Stock&#8217;s Wild Ride: Should You Jump on Board or Steer Clear?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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ClearBridge Global Growth Strategy Q1 2024 Portfolio Manager Commentary

Google's Hat Trick Earnings And New Dividend Shows This Time Is Different

More than half of the S&P 500 names that reported results this week beat top and bottom line - Earnings Scorecard

16 out of 20 information technology stocks deliver EPS wins this week: Earnings Scorecard

Catalyst Watch: Apple earnings, Viking IPO, Chinese EV deliveries and Russell indices' Rank Day

Google makes history as it closes above $2T

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
A lot of <a href="https://investorplace.com/industries/technology/">technology stocks</a> are battered and bruised. Many once high-flying mega-cap tech stocks are taking it on the chin. This week, shares of Meta Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>) are <a href="https://www.reuters.com/technology/meta-shares-plunge-16-frankfurt-after-ai-spending-revenue-forecast-2024-04-25/">down more than 10%</a> after the tech giant issued disappointing guidance and mounting losses at its new ventures unit, Reality Labs. With interest rates expected to remain high for the foreseeable future, tech stocks seem particularly vulnerable to a downturn right now.



In recent weeks, entire <a href="https://www.tradestation.com/insights/2024/04/22/chip-selloff-hammers-growth-stocks/">subsectors of tech</a> have moved lower, notably stocks of companies working in the areas of semiconductors, artificial intelligence (AI) and cybersecurity. How long the current downturn lasts is anyone&rsquo;s guess. That said, there are some tech stocks that are showing tentative signs of recovery and could be poised for a turnaround in coming months, driven by earnings and other catalysts. Here are three tech stocks to buy in anticipation of an epic rebound.



<h2>Tesla (TSLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/tsla1600-11-300x169.png" alt="Elon Musk CEO and product architect of Tesla, Inc. (TSLA) Portrait on red background"><div>Source: kovop / Shutterstock.com</div></div>Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) is by no means out of the woods. The electric vehicle maker just reported its <a href="https://www.cnbc.com/2024/04/23/tesla-tsla-earnings-q1-2024-.html">biggest revenue decline</a> since 2012 and its first-quarter profit plunged 55% from a year earlier. That said, the worst of the selloff in TSLA stock appears to be over. In the two days since the company&rsquo;s Q1 print, Tesla&rsquo;s share price has risen 13%. The stock now looks to have bottomed at $138. Investors looking to bottom fish Tesla might want to buy the stock now.



A lot is riding on the company&rsquo;s ability to bring a <a href="https://www.bloomberg.com/news/articles/2024-04-23/tesla-tsla-stumbles-again-as-profit-sales-fall-short-of-estimates">more affordable electric vehicle</a> to market by early 2025, as CEO Elon Musk promised during the Q1 earnings call with analysts and media. Cost controls and plans to cut 10% of Tesla&rsquo;s workforce will also be important, as is the ability to license its driver assistance system to other automakers. If Musk and his management team can pull it all off, then Tesla could prove to be one great comeback story. In the meantime, TSLA stock is trending upwards.



<h2>Texas Instruments (TXN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/txn-stock-1-300x169.jpg" alt="Texas Instruments logo on its world headquarters located in Dallas, Texas."><div>Source: Katherine Welles / Shutterstock.com</div></div>Among <a href="https://investorplace.com/industries/technology/semiconductor/">semiconductor stocks</a>, Texas Instruments (NASDAQ:<a href="https://investorplace.com/stock-quotes/txn-stock-quote/">TXN</a>) has been a long-term laggard. In the last five years, TXN stock has risen 50%. Compare that to Nvidia&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) 1,817% gain over the same period. While disappointing, Texas Instruments looks like it might be starting to get its mojo back after years of chronic underperformance. The company&rsquo;s <a href="https://www.marketwatch.com/story/texas-instruments-stock-is-on-the-rise-after-strong-results-guidance-0590173d">share price rose 7%</a> in a day after the legacy tech concern reported better-than-expected financial results for Q1 of this year.



Texas Instruments reported earnings per share (EPS) of $1.20, which was much better than Wall Street forecasts of $1.07. Revenue during the first three months of the year came in at $3.66 billion, also ahead of analyst estimates of $3.6 billion. <a href="https://ca.finance.yahoo.com/video/texas-instruments-stock-pops-q2-141644625.html">In terms of guidance</a>, Texas Instruments forecast Q2 revenue of $3.65 billion to $3.95 billion, and profits of $1.05 to $1.25 per share. The Q2 guidance aligns with Wall Street forecasts. 



<h2>Apple (AAPL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/01/shutterstock_1446630212-300x169.png" alt="Close-up of Apple (AAPL) retail store Logo in Honolulu at the Ala Moana Center. Advertising the latest generation of the ipad, iphones, and ipods with a Retina display."><div>Source: Eric Broder Van Dyke / Shutterstock.com</div></div>It might not be long before consumer electronics giant Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) stages an epic rebound. In 2024, AAPL stock is one of the worst performers among tech securities. So far this year, Apple&rsquo;s share price is down nearly 9%, and a laggard in the benchmark S&amp;P 500 index. However, there are potential catalysts looming on the horizon. All eyes will be on the company&rsquo;s May 2 earnings report. People will also be watching a May 7 event where Apple is expected to unveil a <a href="https://www.theverge.com/2024/4/23/24078670/apple-may-product-event-ipad-date">revamped version of its iPad</a> tablet.



Apple&rsquo;s signature tablet, the iPad, launched in 2010 and has not been significantly updated since 2018. A new iPad could help to boost sales of the device, which declined 25% to $7.02 billion in this year&rsquo;s first quarter, according to industry estimates. Sales across all Apple products have suffered amid economic uncertainty and as consumers cutback on spending. Revitalizing its electronic devices could boost sales and AAPL stock. Unveiling AI applications at its <a href="https://www.cnbc.com/2024/03/26/apple-announces-wwdc-2024-ai-announcements-expected.html">developers conference in June</a> could also help.



On the date of publication, Joel Baglole&nbsp;held a long position in NVDA. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestorplace.com%2Fcorporate%2Finvestorplace-publishing-guidelines%2F&amp;data=04%7C01%7C%7C5a525d9084ae4cdfb8f008da1edbf06e%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637856227247256778%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&amp;sdata=uLFH3ol2mcVxuJrHYW3xDLVx3qGIvonIwHvcfUa%2Fo24%3D&amp;reserved=0" target="_blank">Publishing Guidelines</a>.
<div>Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.</div><h3>More From InvestorPlace</h3>
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S&P 500 Earnings: The Upward Revisions Are A Big Positive

Elliott Wave analysis for Nasdaq tech stocks indicates that there might be a potential for building long positions as the Wave (4) low appears to be in place, suggesting a shift to a "Risk On" trading stance...