Latest News for Queen's Road Capital Stock (OTC:BRSGF)

Queen's Road Capital Investment Ltd is a resource-focused investment company. It invests in privately held and publicly traded resource companies and has one operating segment, being the selection, acquisition, and management of investments. The company acquires and holds securities for long-term capital appreciation, with a focus on convertible debt securities and resource projects in development or production located in safe jurisdictions.

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Stocks That Hit 52-Week Highs On Wednesday

QUEENS RD CAP INVT LTD by Queens Rd Cap Invt Ltd.

Queen's Road Capital Investment Ltd

Needham analyst Quinn Bolton maintains NXP Semiconductors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) with a Buy and raises the price target from $250 to $280.

Price Target

Analyst Ratings

NXPI

Needham Maintains Buy on NXP Semiconductors, Raises Price Target to $280

Ahead of the inauguration of President-elect Lai Ching-te, Taiwan is on high alert for possible Chinese military exercises, as reported by the island&#8217;s chief security official.
What Happened: Taiwan&#8217;s National Security Bureau Director-General, Tsai Ming-yen, informed Reuters on Wednesday that China has begun to use unconventional strategies. China views Taiwan as part of its territory and perceives Lai, who has consistently offered dialogue, as a threatening separatist.
President-elect Lai, who is scheduled to take office on May 20, rejects Beijing&#8217;s claims of sovereignty, a stance that aligns with that of the current President Tsai Ing-wen. Tsai Ming-yen stressed that maintaining stability in the Taiwan Strait is in the best interest of the international community, including China.
China is reportedly using a combination of incentives and threats to influence Taiwan&#8217;s China policy under the incoming administration. Tsai Ming-yen pointed out the period from June to November, when the Chinese Communists conducted their regular military drills, as a potential time of increased pressure on Taiwan.
See Also: <a href="https://www.benzinga.com/news/24/04/38518177/29-year-old-tesla-worker-who-got-fired-says-he-slept-in-parking-lot-showered-at-factory-and-ate-micr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">29-Year-Old Tesla Worker Who Got Fired Says He Slept In Parking Lot, Showered At Factory And Ate Microwaved Dinner: &#8216;Sacrificed A Lot For The Company&#8217;</a>
Why It Matters: Over the past four years, China&#8217;s military activities around Taiwan have escalated significantly. This year, China has been observed conducting <a href="https://www.benzinga.com/news/24/04/38491250/chinas-top-anti-spy-agency-vows-to-fight-any-form-of-taiwan-independence-moves-before-presidential-i">&#8220;joint combat readiness patrols&#8221; </a>at night, a new development according to Tsai Ming-yen. These patrols have included landing ships and minesweepers, indicating new patterns of military activity.
Since Lai&#8217;s election victory in January, China has maintained steady pressure on Taiwan, including coast guard patrols near<a href="https://www.benzinga.com/news/24/04/38290012/china-calls-for-pragmatic-military-ties-with-us-amid-taiwan-concerns"> Taiwanese-controlled islands</a> and opening new air routes in the Taiwan Strait. However, Beijing has also proposed resuming limited Chinese tourism to Taiwan, a proposal Taipei is still considering. 
These developments follow a series of events, including a call from <a href="https://www.benzinga.com/news/24/04/38200500/taiwans-ex-president-meets-xi-jinping-says-chinese-on-both-sides-can-handle-disputes-peacefully">China for pragmatic military ties</a> with the U.S. amid Taiwan concerns, and a meeting between Taiwan&#8217;s ex-president and Xi Jinping, where the former expressed optimism that disputes could be handled peacefully. 
Read Next: <a href="https://www.benzinga.com/news/24/04/38508828/edward-snowden-releases-genie-out-of-the-bottle-his-ongoing-poll-shows-people-want-neither-trump-nor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Edward Snowden Releases &#8216;Genie&#8217; Out Of The Bottle, His Ongoing Poll Shows People Want &#8216;Neither Trump Nor Biden&#8217;</a>
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Politics

Global

General

Taiwan Braces For Potential Chinese Military Maneuvers Before Presidential Inauguration

PLTN

PLTNR

PLTNU

PLTNW

Plutonian Acquisition Corp Shareholders On Tuesday Approved Merger With Big Tree Cloud Holdings

Baird analyst Joel Beatty initiates coverage on Praxis Precision Medicine (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAX#NASDAQ">PRAX</a>) with a Outperform rating and announces Price Target of $117.

Initiation

PRAX

Baird Initiates Coverage On Praxis Precision Medicine with Outperform Rating, Announces Price Target of $117

Earnings

Earnings Beats

Earnings Misses

Haleon Q1 2024 GAAP EPS £9.20 Beats £8.85 Estimate, Sales £2.919B Miss £2.963B Estimate

Baird analyst Joel Beatty initiates coverage on Longboard Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBPH#NASDAQ">LBPH</a>) with a Outperform rating and announces Price Target of $36.

LBPH

Baird Initiates Coverage On Longboard Pharmaceuticals with Outperform Rating, Announces Price Target of $36

Li Auto Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) reported delivery of 25,787 vehicles&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38540144/li-auto-inc-april-2024-delivery-update" rel="noreferrer noopener">in April 2024, up 0.4% year over year.&nbsp;</a>
This&nbsp;is an 11% decrease from the 28,984 vehicles delivered in March. Li&#8217;s first-quarter deliveries&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38018172/why-is-li-auto-stock-shooting-higher-today" rel="noreferrer noopener">jumped 52.9% Y/Y to 80,400.</a>
The cumulative deliveries of Li Auto vehicles reached 739,551 as of the end of April.
&#8220;Li L6, our first model priced under RMB300,000, has garnered widespread popularity among young families following its April debut. We will commence large-scale deliveries in May,&#8221; said Chairman and CEO Xiang Li.
Li L6 is a premium large SUV with a length of 4,925 millimeters, width of 1,960 millimeters, height of 1,735 millimeters,<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38314316/li-auto-inc-launches-li-l6-a-five-seat-premium-family-suv" rel="noreferrer noopener">&nbsp;and wheelbase of 2,920 millimeters</a>.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/04/38495283/supreme-court-rejects-elon-musks-bid-to-overturn-sec-decision-report" rel="noreferrer noopener">Supreme Court Rejects Elon Musk&#8217;s Bid To Overturn SEC Decision: Report</a>
The company had recently announced a price cut of approximately 5% on its<a target="_blank" href="https://www.benzinga.com/news/24/04/38358300/whats-going-on-with-chinese-ev-maker-li-autos-stock" rel="noreferrer noopener">&nbsp;L7, Li L8, Li L9, and Li MEGA models.&nbsp;</a>
In addition,&nbsp;Li&nbsp;would also offer cash refunds to owners who had bought those models earlier in 2024.&nbsp;
During the May Day holiday&nbsp;period, the company plans to provide users with complimentary charging services and cover the electricity costs at all its&nbsp;super charging&nbsp;stations.
As of April-end, the company had 481 retail stores in 144 cities, as well as&nbsp;361 servicing centers and Li Auto-authorized body and paint shops operating in 210 cities.&nbsp;
So far, 386&nbsp;super charging&nbsp;stations have commenced operation across the country. Li Auto stock has gained more than 11% in the last 12 months.&nbsp;
Price Action: LI shares are trading lower by 1.26% at $25.95 in premarket at the last check Wednesday.
Photo via Shutterstock

Equities

What's Going On With Chinese EV-Maker Li Auto's Stock Today?

Asset Sales

PAAS

Pan American Silver Agreed To Sell Its 100% Interest In La Arena S.a. To Jinteng (Singapore) Mining Pte. Ltd. For $245M Cash Upfront And A $50M Contingent Payment

SISI

Shineco Announced Today That Its Subsidiaries Fuzhou Medashan Biotechnology Co., Ltd. And Kaifeng Yixi Biotechnology Co., Ltd. Have Innovatively Invented A New Natural Active Water-soluble Product Extracted From Soybean Gum

Macro Economic Events

Econ #s

Economics

S&P Global/CIPS U.K. Manufacturing Purchasing Managers Index For April 49.1 Vs. 48.7 Est.; 50.3 Prior

Despite being ousted from Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) in 2021 over allegations of misconduct, Bill Gates has been quietly orchestrating the company&#8217;s AI revolution from the shadows.
What Happened: Gates, who was accused of inappropriate behavior towards female employees, has been advising on strategy, reviewing products, and nurturing Microsoft&#8217;s relationship with OpenAI CEO Sam Altman, Business Insider <a href="https://www.businessinsider.in/tech/news/bill-gates-is-quietly-pulling-the-strings-behind-microsofts-ai-revolution/articleshow/109694613.cms">reported</a> on Tuesday.
Publicly, Gates has been largely absent from Microsoft&#8217;s operations since 2021, amid allegations of inappropriate behavior toward female employees.
He played a pivotal role in the development of Copilot, an AI tool that has helped Microsoft become the world&#8217;s most valuable public company. Gates has also been involved in the development of Bing, which was turbocharged with the same technology as ChatGPT, to compete with Google.
Despite the public distancing from Gates, Microsoft executives have confirmed his continued influence on the company&#8217;s AI efforts. Gates has been advising on product roadmaps and has been instrumental in recruiting and retaining key executives for Microsoft, according to the report.
&#8220;What you read is not what&#8217;s happening in reality,&#8221; a Microsoft executive said. &#8220;Satya and the entire senior leadership team lean on Gates very significantly. His opinion is sought every time we make a major change.&#8221;
Gates&#8217; influence on Microsoft&#8217;s AI strategy has been significant, despite the public perception that he had been kept at arm&#8217;s length following his ousting in 2021. The report reveals that Gates&#8217; role as a technical advisor at Microsoft has remained largely unchanged since he left the board in 2020.
Despite the scandal, Gates&#8217; influence on Microsoft&#8217;s AI strategy has been pivotal, and his vision for the company&#8217;s AI future has been a driving force behind its recent successes.
Microsoft did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/news/24/04/38480373/musk-vs-moskovitz-rages-on-as-tesla-ceo-trolls-facebook-co-founders-company-why-would-anyone-pay-mon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Vs. Moskovitz Rages On As Tesla CEO Trolls Facebook Co-Founder&#8217;s Company: &#8216;Why Would Anyone Pay Money For Functionality That Comes For Free On Your Phone?&#8217;</a>
Why It Matters: Gates&#8217; continued influence at Microsoft is significant in light of his recent comments on AI. In a recent podcast episode, Gates <a href="https://www.benzinga.com/general/24/04/38159789/bill-gates-worries-ai-will-take-his-job-says-machine-could-say-bill-go-play-pickleball-ive-got-malar">expressed concern</a> that AI could take his job, highlighting the rapid advancements in AI models like ChatGPT.
However, Gates also acknowledged the potential benefits of AI, <a href="https://www.benzinga.com/news/24/03/37764925/microsoft-co-founder-bill-gates-delves-into-ai-strengths-and-weaknesses-its-not-good-enough-for-this">despite its limitations</a>. He emphasized that AI&#8217;s potential benefits for humanity are too significant to ignore.
Furthermore, Gates believes that AI will <a href="https://www.benzinga.com/general/24/04/38267459/bill-gates-says-ai-will-absolutely-play-a-role-in-climate-change-by-allowing-scientists-to-genetical">play a crucial role in addressing climate change</a> by allowing scientists to genetically modify beef cows. This aligns with his long-standing interest in AI and its potential to address global challenges.
Read Next: <a href="https://www.benzinga.com/news/24/04/38480519/trump-vs-biden-new-poll-reveals-shift-in-2024-race-as-public-divided-on-presidents-legacies?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Biden: New Poll Reveals Shift In 2024 Race As Public Divided On Presidents&#8217; Legacies</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Entrepreneurship

Tech

MSFT

Bill Gates Quietly Guides Microsoft's AI Revolution Despite Ouster, 'His Opinion Is Sought Every Time' Says Executive: Report

Vertical Aerospace Ltd. (&quot;Vertical&quot; or the &quot;Company&quot;) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVTL#NYSE">EVTL</a>, EVTLW)))), a global aerospace and technology company that is pioneering zero emission aviation, has made several leadership appointments as the company moves towards a pivotal phase of certifying its VX4 aircraft and commercialisation.
Stuart Simpson, Vertical&#39;s CFO and seasoned FTSE100 executive with a career which spans 30 years and includes leadership roles across the technology, automotive and logistics sectors, has been appointed to CEO, effective immediately. He will be responsible for leading the execution of the company&#39;s strategy as it progresses towards certification of the VX4 aircraft, bringing it to market, and launching further fundraising activity.

Management

EVTL

Vertical Aerospace Appointed Stuart Simpson As New CEO, Effective Immediately

XPEV

XPENG Disclosed 9,393 Vehicles Deliveries In April 2024, Up 33% YoY

Tesla Inc. CEO Elon Musk is impressed by the sheer size of Jeff Bezos&#8216; Amazon.com Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) cloud computing business, Amazon Web Services (AWS) after the company's <a href="https://www.benzinga.com/news/earnings/24/04/38534302/amazon-q1-earnings-highlights-revenue-beat-eps-beat-aws-hits-100-billion-annual-run-rate-and-more">first-quarter earnings</a> came in on Tuesday.
What Happened: Musk expressed astonishment after a user, Charlie Bilello, posted AWS's revenue growth over the last decade. He revealed that AWS&#8217;s trailing 12-month revenue of $94.4 billion is higher than that of 466 companies in the benchmark S&amp;P 500 index.
Bilello's post shows AWS' revenue growing from $3.1 billion in 2013 to $94.4 billion in 2024 in the preceding 12 months.
Musk posted a one-word reaction to this, saying, "Wow."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wow
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1785554762173157466?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
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That's not all – Amazon CEO Andy Jassy revealed that AWS has hit <a href="https://www.benzinga.com/news/24/04/38539518/amazons-andy-jassy-remains-bullish-on-aws-sees-very-large-opportunity-and-expects-meaningful-capex-i">more than $100 billion revenue run rate</a>, in the company's Q1 2024 earnings call on Tuesday.
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" target="_blank" rel="noreferrer noopener">Jensen Huang Hand-Delivers Nvidia's First DGX H200 GPU To OpenAI's Sam Altman To ‘Advance AI, Computing, And Humanity'</a>
AWS, which is just one part of Amazon's business, began as a project to cater to the company's internal needs. However, it was so successful that Amazon ended up offering it as a service to other companies as well.
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: AWS is one of the core businesses of Amazon. While its total revenue surged 13% year-on-year in Q1 to $143.3 billion, AWS revenue surged 17% year-on-year to $25 billion.
Jassy <a href="https://www.benzinga.com/news/24/04/38539518/amazons-andy-jassy-remains-bullish-on-aws-sees-very-large-opportunity-and-expects-meaningful-capex-i">remained bullish</a> on AWS, saying, "There is a very large opportunity in front of us," thanks to generative AI and the fact that "85% or more of global IT spends remains on-premises."
Price Action: At the time of writing, Amazon's shares were up 2% in premarket trading on Wednesday, after closing at $175 on Tuesday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
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: <a href="https://www.benzinga.com/news/24/04/38521828/jensen-huangs-initial-nvidia-pitch-dubbed-one-of-the-worst-by-former-boss-yet-backed-by-belief-in-go">Jensen Huang&#8217;s Initial Nvidia Pitch Dubbed &#8216;One Of The Worst&#8217; By Former Boss, Yet Backed By Belief In &#8216;Godfather Of GPU&#8217;</a>
Photo via Shutterstock

AMZN

Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos' AWS 12-Month Revenue Is Higher Than 466 S&P 500 Companies: 'Wow'

President&nbsp;Joe Biden&nbsp;and his predecessor,&nbsp;Donald Trump,&nbsp;were deadlocked in a new nationwide survey that probed registered voters about their choice of candidate for the<a href="https://www.benzinga.com/topic/2024-election" target="_blank">&nbsp;2024 election.</a>
Face-Off:&nbsp;In the&nbsp;<a href="https://www.faupolling.com/april302024/" target="_blank">survey</a>, 44% of respondents chose Biden, while an equal percentage opted for Trump. Eight percent&nbsp;expressed their preference for&nbsp;another candidate, and 4% remained undecided.&nbsp;
Among likely voters, Biden held a slight lead, with 47% supporting him compared to 44% for Trump.
The survey&nbsp;was conducted&nbsp;by FAU Political Communication and Public Opinion Research Lab and Mainstreet Research between April 26-29&nbsp;and&nbsp;the margin of error&nbsp;is&nbsp;plus,&nbsp;or minus 3%.
Among demographics, women voters sided more with Biden (48%), while more men (47%) preferred Trump.
Biden garnered&nbsp;stronger&nbsp;support from older middle-age groups compared to younger middle-age&nbsp;groups,&nbsp;and from Black voters (67%). On the other hand, Trump received more support from younger middle-aged groups and non-college-educated white voters.
Regarding party allegiance, Biden and Trump both command similar levels of support. However, Independents leaned more toward Trump (44%) than Biden (37%).
&quot;As voters weigh their options, age and personality factors emerge as pivotal considerations. Although concerns over&nbsp;Biden&rsquo;s&nbsp;age loom large among some former supporters, critiques of&nbsp;Trump&rsquo;s&nbsp;language and leadership style drive others away,&quot;&nbsp;the pollster said.
&quot;For those rejecting Trump, personality factors like his language and leadership style loom large, along with&nbsp;<a href="https://www.benzinga.com/news/24/04/38346954/trump-in-hot-seat-in-hush-money-case-prosecutors-seek-deep-dive-into-ex-presidents-alleged-misconduc" target="_blank">legal issues stemming from the Stormy Daniels case.</a>&nbsp;Presidential character remains a major fault line,&quot;&nbsp;said&nbsp;Kevin Wagner,&nbsp;co-director of&nbsp;FAU&rsquo;s&nbsp;PolCom Lab and professor of political science.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38491021/bill-ackman-flags-this-as-biggest-mistake-democrats-have-made-handing-the-election-to-trump-will-be" target="_blank">Bill Ackman Flags This As Biggest Mistake Democrats Have Made:&nbsp;&#39;Handing The Election To Trump Will Be&nbsp;Biden&#39;s&nbsp;Legacy&#39;</a>
3-Way Race:&nbsp;Robert Kennedy&nbsp;Jr.&#39;s&nbsp;inclusion on the ballot is likely to hurt Trump more than Biden, the survey found.&nbsp;Among all voters, 40% backed Biden, 38% Trump, and 13% Kennedy. Three percent preferred another candidate&nbsp;and&nbsp;6% were undecided.
In the subset of likely voters,&nbsp;Biden&#39;s&nbsp;support increases to 44%,&nbsp;Trump&#39;s&nbsp;edges up by a point to 39%&nbsp;but&nbsp;Kennedy&#39;s&nbsp;support shrinks to 11%.&nbsp;Those&nbsp;preferring&nbsp;another candidate were at 2%&nbsp;and&nbsp;3%&nbsp;said they&nbsp;were undecided.
Evenly-Split Party Support:&nbsp;When&nbsp;all voters were probed&nbsp;as to which party they thought would be reelected, an equal proportion of 40% sided with the Republicans and Democrats. Thirteen percent said they were undecided&nbsp;and&nbsp;6% said they preferred independents.
For a question on which&nbsp;party&#39;s&nbsp;candidate they would vote for in their district, 43% sided with Democrats&nbsp;and&nbsp;40% backed Republicans.
Among all voters, 49% said they either&nbsp;strongly&nbsp;opposed or somewhat opposed how Biden handled the conflict in the Middle East between Israel and Iran.
Read Next:&nbsp;<a href="https://www.benzinga.com/money/how-to-invest-in-startups" target="_blank">How To Invest In Startups</a>
&nbsp;

Media

Biden Vs. Trump: Candidates Deadlocked In New 2024 Election Survey, But 2 Factors May Tilt Things In Democrat's Favor

The Philippines has slammed China&#8217;s coast guard for escalating tensions in the South China Sea after water cannons used by Beijing damaged two Philippine vessels.
What Happened: On Wednesday, Philippine officials reported that a coast guard ship and a fisheries vessel were damaged when Chinese coast guard vessels fired water cannons at them, Reuters reported. The incident occurred on Tuesday while the Philippine vessels were en route to the disputed Scarborough Shoal to assist Filipino fishermen.
Commodore Jay Tarriela, the Philippine Coast Guard spokesperson on South China Sea matters, stated that this was the first time the Chinese Coast Guard had directly used a water cannon against a Philippine vessel.
&#8220;It just goes to show that Goliath is becoming more Goliath. They don&#8217;t hesitate to use brute force to violate international law,&#8221; Tarriela said.
See Also: <a href="https://www.benzinga.com/news/24/04/38479193/donald-trump-goes-off-on-one-candidate-for-stealing-potential-votes-away-from-him-in-tight-race-agai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Goes Off On One Candidate For Stealing Potential Votes Away From Him In Tight Race Against Joe Biden: &#8216;Would Essentially Be A WASTED PROTEST VOTE&#8217;</a>
The Scarborough Shoal, a prime fishing area close to major shipping lanes, is a constant source of tension between the Philippines and China. Despite an international tribunal ruling in 2016 that China&#8217;s expansive claim had no legal basis, Beijing continues to assert sovereignty over much of the South China Sea, including parts claimed by the Philippines, Vietnam, Indonesia, Malaysia, and Brunei. 
Why It Matters: This incident follows a series of<a href="https://www.benzinga.com/news/24/03/37929467/china-warns-of-crossroads-in-relations-with-philippines-amid-escalating-tensions-over-maritime-dispu"> confrontations between the nations' coast guards</a>.
The Philippines has a mutual defense treaty with the United States, which has pledged to defend its ally against any armed attack on Filipino military and public vessels, including coast guard ships, in the South China Sea. This commitment was recently reiterated by <a href="https://www.benzinga.com/news/24/03/37847298/us-reaffirms-ironclad-commitment-to-defend-philippines-amid-tensions-with-china-most-important-is-we">U.S. Secretary of State Antony Blinken</a>, amid heightened tensions in the South China Sea.
President Joe Biden<a href="https://www.benzinga.com/news/24/04/38135736/biden-set-to-warn-beijing-as-china-philippines-feud-over-world-war-2-era-ship-in-south-china-sea-und"> has expressed serious concerns</a> over China's escalating activities in the South China Sea in the upcoming summits with Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr.
Read Next: <a href="https://www.benzinga.com/news/24/04/38482489/ukrainian-troops-retreat-as-conflict-with-russia-intensifies-in-eastern-front-zelenskyy-urges-us-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ukrainian Troops Retreat As Conflict With Russia Intensifies In Eastern Front, Zelenskyy Urges US For Swift Arms Deliveries</a>
Image by Andy.LIU via Shutterstock
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Philippines Slams Xi Jinping's Coast Guard Of Escalating South China Sea Tensions: 'They Don't Hesitate To Use Brute Force...'

Tesla Inc.&#8217;s stock (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38485399/tesla-skyrockets-about-10-in-premarket-whats-fueling-the-dramatic-rally" rel="noreferrer noopener">saw a boost this week</a>&nbsp;on news of a potential full self-driving software rollout in China.&nbsp;Future Fund&#8216;s&nbsp;Gary Black&nbsp;weighed in Tuesday, highlighting the potential benefits for Tesla if the technology reaches this key market.
China FSD: A Big Boost, But Questions Remain
While Black acknowledges the difficulty of quantifying FSD&#8217;s value for Tesla, he emphasizes two key factors:
<ul>
<li>Sales Model:&nbsp;Will Tesla sell FSD only on its&nbsp;own&nbsp;vehicles, or will it secure licensing deals with Chinese startups?</li>
<li>Adoption Rate:&nbsp;How many Tesla owners in China will opt for FSD?</li>
</ul>
&#8220;It's difficult to quantify what FSD approval in China is worth to $TSLA valuation. Much depends on whether TSLA sells FSD on just its own vehicles or secures licensing deals with other China EV makers. Much also depends on China's FSD take rate,&#8221; he posted on X.
Black highlighted the significant electric vehicle (BEV) market in China, which sells 22 million vehicles annually, with 24% (roughly 5.2 million) being BEVs. He points out Tesla&#8217;s strong presence in China, with 610,000 BEVs sold in 2023 and 1.7 million units cumulatively since 2019.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It's difficult to quantify what FSD approval in China is worth to <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> valuation. Much depends on whether TSLA sells FSD on just its own vehicles or secures licensing deals with other China EV makers. Much also depends on China's FSD take rate. China sells 22M autos per year…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1785224907560743390?ref_src=twsrc%5Etfw">April 30, 2024</a></blockquote>
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Potential EPS Boost &amp; Valuation Impact
Black estimates that if just 10% of Tesla owners in China pay $1,000 annually for FSD, it could add 4 cents per share (EPS) to Tesla&#8217;s earnings. This EPS accretion could be significantly higher (16 cents per share) if Tesla licenses FSD to other BEV manufacturers in China.
&#8220;At a TSLA 2025 P/E of 50x that equates to $8/share in incremental valuation,&#8221; Black said.&nbsp;
If the China FSD take rate is 30%, incremental earnings per share could be as high as 48 cents per share, and incremental valuation could be $24 per share, he said.&nbsp;
Competition &amp; Regulatory Hurdles
However, Black acknowledges the presence of competitors like Baidu, whose&nbsp;Apollo Go&nbsp;robotaxis are already approved for operation in six major Chinese cities, with plans for expansion to 65 by the end of 2025. He questions whether&nbsp;Baidu&nbsp;would switch to Tesla FSD given their existing solution.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" rel="noreferrer noopener">Everything You Need to Know About Tesla Stock</a>
Analyst Opinions Diverge
Analyst opinions on the FSD rollout in China vary. BofA Securities&#8217;&nbsp;John Murphy&nbsp;estimates incremental annual revenue&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38531925/tesla-set-to-boost-revenue-and-margins-with-china-breakthrough-analyst-predicts" rel="noreferrer noopener">of half a billion dollars</a>&nbsp;and earnings of $350 million for Tesla if 25% of Tesla owners adopt FSD. Murphy projects even higher earnings ($2.3 billion) by 2030 based on the same adoption rate and projected auto sales growth in China.
However, bearish analyst&nbsp;Gordon Johnson&nbsp;downplays the news, suggesting the announcement only allows Tesla vehicles into government compounds. He doubts China would approve FSD trained on U.S. data.
Price Action:&nbsp;Tesla ended Tuesday&#8217;s session down 5.55% at $183.28, according to&nbsp;<a target="_blank" href="https://benzinga.grsm.io/lxquj26b2sag" rel="noreferrer noopener">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38514792/is-elon-musk-working-so-hard-to-ensure-his-pay-package-is-approved-by-shareholders-">Is Elon Musk Working So Hard To Ensure His Pay Package Is Approved By Shareholders In June? Here&#8217;s What A Fund Manager Says</a>
Photo by Koshiro K on Shutterstock.

Analyst Color

Asia

TSLA

Tesla's Stock Could Rise By Up To $24 If EV Giant's China FSD Rollout Succeeds, Says Fund Manager: 'Much Depends On Whether...'

AIXI

Xiao-I Announced The Forthcoming Launch Of Its Innovative Product, Dif (daily Invest Focus), In May 2024

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has acknowledged a recurring issue with&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38511556/what-is-going-on-with-apple-iphone-sales-drop-by-staggering-9-3m-units-globally-in-" rel="noreferrer noopener">iPhone</a>&nbsp;alarms failing to sound, following&nbsp;complaints from users&nbsp;on social media platforms like Twitter and TikTok.
A History of Alarm Annoyances:&nbsp;Over the past few days,&nbsp;iPhone users have reported their alarms malfunctioning.&nbsp;
This&nbsp;isn&#8217;t&nbsp;the first time this problem has surfaced. In 2017, a bug in iOS 11 caused alarms to switch to silent mode, and similar complaints arose with iOS 17 updates last year.
Apple Aware, But No Fix Yet:&nbsp;When contacted about the latest issue, Apple confirmed they were aware and working on a solution. However,&nbsp;no timeframe for a patch release was provided.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38480124/spac-king-chamath-palihapitiya-reveals-he-was-interviewed-by-steve-jobs-and-almost-became-head-of-ip" rel="noreferrer noopener">&#8216;SPAC&nbsp;King&#8217;&nbsp;Chamath Palihapitiya Reveals He Was Interviewed By Steve Jobs And Almost Became Head Of iPhone:&nbsp;&#8216;I Was Like A Believer Meeting&nbsp;Jesus&#8217;</a>
&#8220;For example, when&nbsp;you&#8217;re&nbsp;looking at your device, your display&nbsp;won&#8217;t&nbsp;dim until you stop looking at it. If&nbsp;you&#8217;re&nbsp;looking at your device, it will lower the volume sound of your alert,&#8221;&nbsp;according to Apple Support.&nbsp;
The tech giant has not confirmed the reasoning behind the latest issue. Apple did not immediately respond to&nbsp;<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Benzinga's</a>&nbsp;request for comments.&nbsp;&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If your alarm hasn&#39;t gone off recently, you're not alone &#x23f0; Apple says it is aware of an issue causing some iPhone alarms to not play the expected sound and says it is working on a fix. <a href="https://twitter.com/EmilieIkedaNBC?ref_src=twsrc%5Etfw">@emilieikedanbc</a> reports on the details. <a href="https://t.co/poCvYwLvgg">pic.twitter.com/poCvYwLvgg</a>
&mdash; TODAY (@TODAYshow) <a href="https://twitter.com/TODAYshow/status/1785272580351422755?ref_src=twsrc%5Etfw">April 30, 2024</a></blockquote>
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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&nbsp;It's&nbsp;Important:&nbsp;This&nbsp;isn't&nbsp;the first&nbsp;time&nbsp;iPhone users have complained about their alarms not ringing properly. In 2017, a bug in&nbsp;iOS 11&nbsp;reportedly caused alarms to switch to silent mode.&nbsp;
At the time,&nbsp;it was reported&nbsp;that despite the alarm UI&nbsp;being triggered&nbsp;at the set time, the ringer never went off, leaving the iPhone screen&nbsp;to go&nbsp;on mute mode.&nbsp;The issue was also acknowledged by Apple, and&nbsp;a fix was subsequently rolled out.&nbsp;
Last year also, some users faced problems with iOS 17 alarms not working as expected. People complained that they found themselves oversleeping because the alarm&nbsp;wouldn&#8217;t&nbsp;go off. At the time, some users said that the&nbsp;issue was resolved&nbsp;after subsequent software updates.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/01034950/Screenshot-2024-05-01-at-1.19.44%E2%80%AFPM-1024x804.png" alt="" class="wp-image-316840" /></figure>
Check out more of&nbsp;Benzinga&#8217;s&nbsp;Consumer Tech coverage by&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/consumer-tech" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38348747/not-something-steve-jobs-would-probably-do-gurman-says-apple-should-go-against-the-grain-and-low" target="_blank" rel="noreferrer noopener">&#8216;Not Something Steve Jobs Would Probably Do&#8217;:&nbsp;Gurman Says Apple Should Go Against The Grain And Lower&nbsp;iPhone&#8217;s&nbsp;Price&nbsp;Point</a>
Photo via Shutterstock

AAPL

iPhone Alarms On Mute Again: Apple Acknowledges Issue, But No Fix Timeline Yet

GSK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) reported quarterly adjusted earnings of $1.09 per share which beat the analyst consensus estimate of $0.91 by 20.11 percent. This is a 21.44 percent increase over earnings of $0.90 per share from the same period last year. The company reported quarterly sales of $9.33 billion which beat the analyst consensus estimate of $8.92 billion by 4.64 percent. This is a 10.55 percent increase over sales of $8.44 billion the same period last year.

GSK Q1 Adj. EPS $1.09 Beats $0.91 Estimate, Sales $9.33B Beat $8.92B Estimate

Queen's Road Capital Investment Ltd. raises dividend by 11.8% to  CAD 0.019

Queen's Road Capital

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Latest News for Queen's Road Capital Stock (OTC:BRSGF)

Wednesday, February 19, 2020