iShares Core 5-10 Year USD Bond ETF (ARCA: IMTB)

iShares Core 5-10 Year USD Bond ETF (ARCA:IMTB), Trade Ideas

iShares Core 5-10 Year USD Bond ETF

Kevin Nystrom Appointed Interim Chief Executive Officer 
Mark Schwabero Appointed Vice Chairman of the Board
Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Kevin Nystrom, a partner and managing director at AlixPartners LLP, has been appointed interim CEO, effective immediately. The company has previously disclosed its ongoing engagement with AlixPartners for various consulting services, including cost reduction and financial advisory.
Mr. Nystrom succeeds Avi Avula, who resigned from his position as President and Chief Executive Officer. Methode&#39;s Board of Directors, with the assistance of executive search firm Spencer Stuart, has initiated a search to identify a permanent CEO

News

Management

Reported Earlier, Methode Electronics Appoints Kevin Nystrom As Interim CEO, Effective Immediately

Crescent Point has agreed to sell certain non-core properties in&nbsp;Saskatchewan, including Flat Lake and Battrum, to Saturn for&nbsp;$600 million&nbsp;in cash. Production from the Assets was expected to be 13,500 boe/d (95%&nbsp;oil and liquids) over the next 12 months, generating&nbsp;$210 million&nbsp;of net operating income at current strip commodity prices. The Company had allocated minimal development capital expenditures to the Assets for the remainder of 2024.

Reported Earlier, Crescent Point Energy Sells Its Certain Non-Core Assets In Saskatchewan For $600M

After&nbsp;Geoff Duncan, former Lt. Governor of Georgia and a prominent Republican,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/08/33840112/georgia-poised-to-level-charges-against-trump-report" rel="noreferrer noopener">shifted allegiance to President&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/23/08/33840112/georgia-poised-to-level-charges-against-trump-report" rel="noreferrer noopener">Joe Biden</a>,&nbsp;Donald&nbsp;Trump&#8216;s&nbsp;niece&nbsp;Mary&nbsp;Trump&nbsp;weighed&nbsp;in on its implications for the Republican Party.
What Happened:&nbsp;Duncan&#8217;s&nbsp;surprising endorsement of the president and scathing rebuke of Donald Trump in an op-ed for the Atlanta Journal-Constitution signals waning support for the former president, according to Mary Trump.&nbsp;
Praising&nbsp;Duncan&#8217;s&nbsp;choice as&nbsp;&#8220;country over party,&#8221;&nbsp;she highlighted his decision to&nbsp;&#8220;vote for a decent person I disagree with on policy over a criminal defendant without a moral compass.&#8221;
Mary Trump emphasized that&nbsp;Duncan&#8217;s&nbsp;move was not that of a liberal but of a&nbsp;&#8220;lifelong Republican,&#8221;&nbsp;describing him as&nbsp;&#8220;extremely conservative.&#8221;&nbsp;She applauded his courage to cross party lines, calling it a&nbsp;&#8220;brave&#8221;&nbsp;departure from the&nbsp;GOP&#8217;s&nbsp;typical strategy of unwavering loyalty.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38635067/elon-musk-says-robert-de-niro-is-so-out-of-touch-its-insane-after-legendary-actor-compares-trump-to" rel="noreferrer noopener">Elon Musk Says Robert De Niro Is&nbsp;&#8216;So Out Of Touch,&nbsp;It&#8217;s&nbsp;Insane&#8217;&nbsp;After Legendary Actor Compares Trump To Hitler</a>
&#8220;This break with Donald — and the party — is a sign of more positive things to come,&#8221;&nbsp;Mary Trump said.&nbsp;&#8220;Duncan's&nbsp;announcement is a reminder that it&nbsp;is possible to cross party lines for the greater good,&nbsp;a message that should resonate with anyone who genuinely cares about our country, regardless of their political&nbsp;affiliation&#8221;
She stressed the possibility of more Republicans feeling dissatisfied with Donald Trump as their nominee.&nbsp;&#8220;We need many more Republicans to drop their toxic&nbsp;absolutism,&nbsp;and follow his lead,&#8221;&nbsp;Mary Trump said.
Why It&#8217;s Important: With Trump and Biden <a href="https://www.benzinga.com/news/24/05/38630115/trump-vs-biden-latest-polls-dont-bode-well-for-one-candidate-in-tight-presidential-race" target="_blank" rel="noreferrer noopener">in a &#8220;too-close-to-call&#8221; race</a>, sentiment toward both candidates among registered voters is mixed. 
Biden faces criticism for his economic policies, age, and handling of immigration, while Trump&#8217;s extreme stance and legal troubles, including pending cases related to the 2020 election, have soured sentiments. 
Some voters perceive Trump as a threat to democracy, particularly in light of <a href="https://www.benzinga.com/news/23/08/33851310/donald-trump-election-fraud-probe-georgia-grand-jury-reportedly-issues-10-indictments" target="_blank" rel="noreferrer noopener">criminal charges in Georgia</a> for his attempts to overturn the 2020 election results.
In&nbsp;the event of&nbsp;a deadlock, sentiment in key swing states will play a crucial&nbsp;role,&nbsp;as both parties focus their campaign efforts on these pivotal regions.
See Also:<a href="https://www.benzinga.com/money/best-depression-stocks"> Best Depression Stocks</a>

Politics

Media

Trump's Niece Says Ex-President's Support Within Party Waning After Republican Defector's Bold Move To Biden Camp: 'Sign Of More Good Things To Come'

Empowering&nbsp;biopharma with unified epidemiology, incidence and prevalence data alongside claims-based population insights, for precise market sizing and patient population analysis

CLVT

Clarivate Unveils Epidemiology Intelligence For Precision Patient Population Analysis

OpenAI COO Brad Lightcap has revealed that the startup's biggest consumer product so far, <a href="https://www.benzinga.com/topic/chatgpt">ChatGPT</a>, is not a "long-term" engagement model.
What Happened: During an <a href="https://milkeninstitute.org/panel/15625/part-1-conversation-openai-coo-brad-lightcap">interaction</a> at the Milken Institute's 27th Global Conference, Lightcap dived into the future of AI models and how they are going to evolve from what we have now.
On what to expect from the Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI in the next 12 months, Lightcap said the possible advancements in AI are immense.
"The kind of term-based, almost an oracle-like system that ChatGPT is today, we don't see it as a long-term engagement model for what these systems can do and how they're going to be used."
"We're going to move toward a world where they are… going to be capable of taking much more complex work," Lightcap added, explaining that AI models will change the way we work and do other things.
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.
"They will have a much more assistive relationship with users. They'll almost be kind of a great teammate."
AI's impact on work and friendships will be immense, according to him.
"I don't think people today understand what that looks like and internalize it easily."
See Also: <a href="https://www.benzinga.com/news/24/05/38611412/sam-altman-teases-gpt-5-openais-gpt-4-the-dumbest-model-people-will-have-to-ever-use-again-says-ceo">Elon Musk Says AI Will &#8216;Shorten&#8217; The Cycle Of Crises Shaping Societies And Creating New Orders: Here&#8217;s What It Means</a>
<h2 class="wp-block-heading">AI Will One Day Be A Standup Comedian, Says Lightcap</h2>
Although AI models now have evolved from being just rudimentary chatbots to ones that can do some level of reasoning now, Lightcap says we're "just scratching the surface" of what is possible.
"A kid born today will look back in 10 years from now… it will be foreign [to them] that you can't talk to your computer the way you can talk to your friend."
Lightcap added that AI models will move away from just being text-based systems that they are today, to verbal, vision-based multi-modal ones.
"We talked a little about an AI that hits kind of a comedic quality. Can AI be a standup comedian? I think it can."
OpenAI rolled out a <a href="https://www.benzinga.com/news/24/04/38177454/openai-rolls-out-majorly-improved-gpt-4-turbo-model-just-as-googles-gemini-gets-a-boost" target="_blank" rel="noreferrer noopener">majorly improved GPT-4 Turbo model</a> in April, but some reports suggest <a href="https://www.benzinga.com/news/24/03/37700871/is-microsoft-teasing-gpt-5-turbo-with-copilot-pro-slip-up-oops-moment-sparks-wild-speculation">GPT-5 is inching closer</a> to launch.
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/24/05/38545003/elon-musk-reacts-as-mit-engineer-says-were-at-fraction-of-1-in-ai-investment-imagine-whats-about-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As MIT Engineer Says We're At ‘Fraction Of 1% In AI Investment</a>
Photo by Andrea De Santis on Unsplash

Tech

MSFT

ChatGPT Is Not A 'Long-Term' Engagement Model, OpenAI's Top Executive Says: 'Today's Systems Are Laughably Bad'

CME Group To Add Tuesday And Thursday Expiries To Weekly WTI Crude Oil Options Starting July 2024

Conversion of 14 hotels marks Marriott International&#39;s debut of affordable midscale segment in Asia Pacific
KKR, a leading global investment firm, and Marriott International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) today announced the launch of each company&#39;s foray into the midscale hospitality space in Japan, which follows KKR&#39;s completion of the acquisition of Unizo Hotel Company, Limited and a portfolio of 14 hotels in Japan from Unizo Holdings. The 14 hotels will be converted to&nbsp;Four Points Express by Sheraton. This marks Marriott&#39;s entry into the affordable midscale segment in Japan and the brand&#39;s debut in Asia Pacific following its global launch in this space in 2023.

Marriott And KKR Collaborate To Introduce Affordable Midscale Hotels In Japan With Four Points Express, Converting 14 Properties

Skyward Specialty will not receive any of the proceeds from the sale of the shares of its common stock offered by the Selling Stockholder, and the Selling Stockholder will bear the underwriting discounts and commissions associated with the sale of such shares.

SKWD

Reported Earlier, Skyward Specialty Insurance Prices 4.4M Share Secondary Offering By The Westaim Corporation At $36.50/Share

TAIPEI, Taiwan--(<a href="https://www.businesswire.com/">BUSINESS WIRE</a>)--United Microelectronics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>, TWSE: 2303)) (&ldquo;UMC&rdquo;), today reported unaudited net sales for the month of April 2024.
Revenues for April 2024
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
Period
</td>
<td colspan="1" rowspan="1">
2024
</td>
<td colspan="1" rowspan="1">
2023
</td>
<td colspan="1" rowspan="1">
Y/Y Change
</td>
<td colspan="1" rowspan="1">
Y/Y (%)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
April
</td>
<td colspan="1" rowspan="1">
19,741,391
</td>
<td colspan="1" rowspan="1">
18,461,436
</td>
<td colspan="1" rowspan="1">
1,279,955
</td>
<td colspan="1" rowspan="1">
6.93%
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Jan.-Apr.
</td>
<td colspan="1" rowspan="1">
74,373,490
</td>
<td colspan="1" rowspan="1">
72,670,883
</td>
<td colspan="1" rowspan="1">
1,702,607
</td>
<td colspan="1" rowspan="1">
2.34%
</td>
</tr>
</tbody>
</table>

UMC Reports April 2024 Sales Of NT$19.74M, Up By 6.9% YoY

Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/SRE">opening bell on May 7, 2024</a>.
Analysts expect the San Diego, California-based company to report quarterly earnings at $1.34 per share, down from $1.46 per share in the year-ago period. Sempra is projected to report quarterly revenue of $5.58 billion, compared to $6.56 billion a year-earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 27, Sempra Energy posted better-than-expected quarterly earnings.
Sempra shares fell 0.3% to close at $72.71 on Monday.
Benzinga readers can access the latest analyst ratings on the A<a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">nalyst Stock Ratings </a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/SRE/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Morgan Stanley analyst David Arcaro maintained an Equal-Weight rating and raised the price target from $74 to $75 on March 21. This analyst has an accuracy rate of 63%.</li>
<li>Barclays analyst Eric Beaumont maintained an Overweight rating and boosted the price target from $77 to $79 on March 14. This analyst has an accuracy rate of 71%.</li>
<li>RBC Capital analyst Shelby Tucker reiterated an Outperform rating with a price target of $82 on March 6. This analyst has an accuracy rate of 65%.</li>
<li>Mizuho analyst Anthony Crowdell maintained a Buy rating and cut the price target from $83 to $79 on Jan. 25. This analyst has an accuracy rate of 63%.</li>
<li>BMO Capital analyst James Thalacker upgraded the stock from Market Perfrom to Outperform and increased the price target from $76 to $84 on Jan. 11. This analyst has an accuracy rate of 66%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/05/38637849/top-2-risk-off-stocks-that-may-plunge-in-q2">Top 2 Risk Off Stocks That May Plunge In Q2</a>

Earnings

Price Target

Pre-Market Outlook

Markets

Trading Ideas

Sempra Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

&nbsp;The aggregate principal amount of the offering was increased from the previously announced offering size of&nbsp;$1.5 billion. The sale of the Notes is expected to settle on May 9, 2024, subject to customary closing conditions. Interest on the Notes will be payable in cash semi-annually in arrears, beginning on November 15, 2024

Reported Earlier, Block Upsizes And Prices Offering Of $2B 6.50% Senior Notes Due 2032

Sen. Joe Manchin (D- W.Va.) has voiced his support for presidential debates ahead of the 2024 U.S. election, emphasizing the importance of public scrutiny of candidates. Machin&#8217;s comments appear amid talks about a public debate between President Joe Biden and his predecessor Donald Trump.
What Happened: On Monday, Manchin discussed his views on the upcoming 2024 U.S. presidential election with Brian Sullivan during CNBC&#8217;s &#8220;Last Call.&#8221; He emphasized the importance of debates, stating, "People should demand debates. Not to have a debate is ridiculous. You've got to be able to see."
<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">"People should demand debates," says <a href="https://twitter.com/Sen_JoeManchin?ref_src=twsrc%5Etfw">@Sen_JoeManchin</a> ahead of the 2024 U.S. presidential election. "Not to have a debate is ridiculous. You've got to be able to see." <a href="https://t.co/jEXr6s6hA2">pic.twitter.com/jEXr6s6hA2</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1787626943120023935?ref_src=twsrc%5Etfw">May 6, 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/24/05/38628322/elon-musk-reacts-after-house-report-reveals-mark-zuckerbergs-meta-and-others-were-pressured-by-white?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After House Report Reveals Mark Zuckerberg&#8217;s Meta And Others Were Pressured By White Hou</a>
Why It Matters: The 2024 presidential election is shaping up to be a highly competitive race, with both Biden and Trump emerging as frontrunners, as indicated by the <a href="https://www.benzinga.com/general/sports-betting/24/04/38417836/trump-and-biden-get-ready-2024-election-betting-odds-point-to-major-showdown" target="_blank" rel="noreferrer noopener">betting odds</a>. The election is expected to be a close contest, with swing states showing a tight race between the two candidates.
This came after Biden last week expressed his <a href="https://www.benzinga.com/news/24/04/38475853/joe-biden-reverses-stance-agrees-to-debate-ex-president-ahead-of-2024-rematch-trump-makes-fun-of-me">willingness to engage in a debat</a>e with Trump ahead of the 2024 general election. This marked a shift from his earlier stance, where he said his participation depends on Trump's "behavior.&#8221;
Biden&#8217;s change of stance is also notable as former Republican presidential candidate Vivek Ramaswamy had accused the Democratic Party of<a href="https://www.benzinga.com/news/23/05/32180309/democrats-shielding-joe-biden-from-debate-says-gop-presidential-candidate-real-men-dont-hide"> &#8220;shielding&#8221; President</a><a href="https://www.benzinga.com/general/politics/24/01/36682525/republican-debates-canceled-desantis-wont-be-debating-two-empty-podiums-after-all"> </a><a href="https://www.benzinga.com/general/politics/24/01/36682525/republican-debates-canceled-desantis-wont-be-debating-two-empty-podiums-after-all">Biden</a> from participating in debates.
<a href="https://www.realclearpolitics.com/" target="_blank" rel="noreferrer noopener">According</a> to Real Clear Politics, at the national level, Trump held 46% support among voters, While Biden trailed with 44.9% support.
Read Next: <a href="https://www.benzinga.com/news/24/05/38632362/russian-troops-enter-us-military-base-in-niger-trumps-views-on-presidential-immunity-and-more-top-po?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russian Troops Enter US Military Base In Niger, Trump&#8217;s Views On Presidential Immunity And More: Top Political Updates</a>
Photo Courtesy Rachael Warriner On Shutterstock.com
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General

Trump Vs Biden: Democratic Senator Says 'People Should Demand Debates' Ahead Of 2024 Presidential Election

RACY

Reported Earlier, Relativity Acquisition Receives Further Delisting Determination From Nasdaq Due To Non-Compliance

The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Monday.
U.S. stocks settled higher on Monday, with the Dow Jones index recording gains for the fourth straight session.
Data released Friday showed U.S. employers added 175,000 nonfarm payrolls in April, marking a reduction from the upwardly revised 315,000 reading in March and missing the expected 238,000. The unemployment rate went from 3.8% to 3.9%, more than the expected 3.8%.
Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) shares gained around 5% on Monday after Baird analyst Tristan Gerra upgraded the stock from Neutral to Outperform and raised its price target from $115 to $150. Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) shares fell 5.7% after the company reported worse-than-expected second-quarter revenue results.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, financial and information technology stocks recording the biggest gains on Monday. However, real estate stocks bucked the overall market trend, closing the session slightly lower.
The Dow Jones closed higher by around 177 points to 38,852.27 on Monday. The S&amp;P 500 rose 1.03% at 5,180.74, while the Nasdaq Composite jumped 1.19% at 16,349.25 during Monday's session.
Investors are awaiting earnings results from McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>), Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>), and The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) today.
At a current reading of 40.2, the index remained in the &#8220;Fear&#8221; zone on Friday, versus a prior reading of 40.5.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/05/38637897/micron-qualcomm-and-2-other-stocks-insiders-are-selling">Micron, Qualcomm And 2 Other Stocks Insiders Are Selling</a>

Investor Optimism Decreases Slightly, But Dow Records Gains For 4th Day

With U.S. stock futures trading mixed this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) to report quarterly earnings at $1.10 per share on revenue of $22.12 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Disney shares rose 0.4% to $116.88 in after-hours trading.</li>
<li>UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) posted better-than-expected results for its first quarter on Monday. UBS shares gained 0.5% to $27.73 in the after-hours trading session.</li>
<li>Analysts are expecting Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) to post quarterly earnings at $1.52 per share on revenue of $1.77 billion. The company will release earnings after the markets close. Electronic Arts shares gained 0.6% to $131.37 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
<ul>
<li>Commercial Vehicle Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>) posted downbeat results for its first quarter on Monday. Commercial Vehicle posted adjusted earnings of 13 cents per share, missing expectations of 18 cents per share. The company said it sees FY24 revenue of $915 million to $1.015 billion, versus market estimates of $968.909 million. Commercial Vehicle shares fell 2% to $5.90 in the after-hours trading session.</li>
<li>Analysts expect McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>) to post quarterly earnings at $6.34 per share on revenue of $79.2327 billion after the closing bell. McKesson shares rose 0.9% to close at $533.41 on Monday.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38638989/wall-streets-most-accurate-analysts-views-on-3-consumer-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Consumer Stocks Delivering High-Dividend Yields</a>

CVGI

Disney, Electronic Arts And 3 Stocks To Watch Heading Into Tuesday

With Apple, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">better-than-expected March quarter results</a>, investor attention would now shift toward Cupertino&#8217;s AI strategy, according to a bullish analyst.
Welcome Relief: Apple&#8217;s guidance for year-over-year growth returning in the June quarter allowed bulls to breathe a sigh of relief, said Wedbush analyst Daniel Ives in a note. 
The analyst expects China&#8217;s iPhone unit growth to slowly turn from a headwind to a tailwind ahead of the start of the AI-driven iPhone 16 supercycle, starting in September.
The focus over the next month will, however, be on Apple&#8217;s AI reveal at the June annual World Wide Developer Conference, said Ives. The product cycle of the year will likely include new iPads, set to be announced on Tuesday, 
&#8220;We believe the June quarter will be the end of this growth doldrums period as Apple starts to see a renaissance of growth heading into the September quarter and FY25,&#8221; Ives said. 
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
Potential AI Pursuits: Apple&#8217;s potential incorporation of <a href="https://www.benzinga.com/news/24/04/38086575/iphone-16-rumors-roundup-everything-we-know-about-apples-next-flagship">generative AI into the iPhone 16,</a> according to the analyst, will mark the &#8220;start of a new frontier of growth for the golden installed base of Cupertino,&#8221; the analyst said. 
&#8220;This will be an aggressive and no holds barred strategy around AI and making sure Apple monetizes this technology both from the Services front while catalyzing upgrades with iPhone 16 being the first Apple iPhone with its new AI exclusive features,&#8221; he said.
The analyst sees the launch of a separate AI App Store, which would be the foundational launching pad for developers and consumers tapping into AI.
&#8220;In a nutshell, we believe the worst is in the rearview mirror for Apple,&#8221; he said.
Wedbush has an Outperform rating and a $250 price target for Apple stock.
Apple ended Monday&#8217;s session down 0.91% at $181.71, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38660790/is-apple-back-in-the-ev-game-tech-giant-reportedly-eyes-rivian-partnership">Is Apple Back In The EV Game? Tech Giant Reportedly Eyes Rivian Partnership</a>
Image via Shutterstock

Analyst Color

Equities

Long Ideas

Reiteration

Analyst Ratings

AAPL

Apple Will Pursue 'Aggressive And No Holds Barred Strategy Around AI,' Says Bullish Analyst: 'Worst Is In Rearview Mirror'

Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/government/24/04/38039010/tesla-semi-ready-to-replace-diesel-trucks-says-unit-head-as-he-cheers-epas-tough-new-standards" target="_blank" rel="noreferrer noopener">Semi trucks</a> are gaining traction with major customers, even though mass production hasn&#8217;t begun. The company reportedly has secured its third significant client from the S&amp;P 500.
Costco Joins the Roster?&nbsp;On Monday, Tesla investor and influencer&nbsp;Sawyer Merritt&nbsp;shared a post on Twitter featuring a video of a Tesla Semi emblazoned with the&nbsp;Costco Wholesale Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) logo in Santa Cruz, California. It remains unclear whether the Semi is undergoing testing or has been purchased by the retail giant. Costco has not yet responded to Benzinga&#8217;s request for comment
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tesla semi at Costco in Santa Cruz. Driver loved the drive over highway 17. And down it! <a href="https://t.co/0oVWnFNQY8">pic.twitter.com/0oVWnFNQY8</a>
&mdash; Joaquin (@Joaquin03114400) <a href="https://twitter.com/Joaquin03114400/status/1787650741307576702?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
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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>
Following 2 Giants:&nbsp;This development comes close on the heels of another&nbsp;<a target="_blank" href="https://www.benzinga.com/general/social-media/24/05/38649736/tesla-semi-with-walmart-branding-spotted-whats-next-for-ev-giants-push-into-semi-trucks" rel="noreferrer noopener">Tesla&nbsp;Semi sighting</a>, this time with&nbsp;Walmart Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) branding at an undisclosed U.S. location. Walmart has placed a large order for Tesla Semis, but the number of delivered units remains unknown.
PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) confirmed to Benzinga in January that they currently operate 36 Tesla Semis across their Frito-Lay facility in Modesto, California, and their beverage facility in Sacramento, California. Earlier this year, Pepsi also said that the Tesla Semi achieved a test milestone of <a href="https://www.benzinga.com/news/24/01/36796670/pepsico-says-its-tesla-semi-surpassed-1-000-miles-in-single-day-haul" target="_blank" rel="noreferrer noopener">exceeding 1,000 miles</a> in a single day.
Why It Matters:&nbsp;During its first-quarter earnings call, Tesla stated that Semi deliveries are expected to&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38395098/tesla-unveils-timeline-for-electric-semi-truck-production-first-units-to-external-customers-by-2" rel="noreferrer noopener">begin in late 2025</a>&nbsp;and continue into 2026. The company also anticipates increased Semi production with the expansion of Gigafactory Nevada.&nbsp;
Tesla&#8217;s Vice President of Vehicle Engineering,&nbsp;Lars Moravy, confirmed that the engineering phase of the Semi is nearing completion, paving the way for high-volume production.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38660790/is-apple-back-in-the-ev-game-tech-giant-reportedly-eyes-rivian-partnership" target="_blank" rel="noreferrer noopener">Is Apple Back In The EV Game? Tech Giant Reportedly Eyes Rivian Partnership</a>
Photo courtesy: Tesla

Rumors

COST

TSLA

Tesla Semi Scores Another S&P 500 Name After Pepsi And Walmart? Video Shows Big-Box Retailer Using EV Giant's Heavy Truck

During the go-shop period, AdTheorent received one acquisition proposal (the &quot;Go-Shop Proposal&quot;) from a third-party (the &quot;Go-Shop Party&quot;), pursuant to which the Go-Shop Party proposed to acquire all outstanding shares of AdTheorent common stock for&nbsp;$3.35&nbsp;per share in cash.&nbsp;

ADTH

Reported Earlier, AdTheorent Announces End of Go-Shop Period With New Acquisition Proposal On The Table, Amidst CadOnt's $324M Merger Deal

Elon Musk's AI-powered chatbot, Grok has apparently started predicting the future as it summarizes Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/24/04/38135554/apple-preps-biggest-ipad-overhaul-in-years-after-18-months-pause-with-new-pro-air-models">upcoming launch of new</a> iPad products.&nbsp;
What Happened: Earlier this week, Grok started summarizing personalized trending stories on X, formerly Twitter. The feature essentially allows Premium subscribers to read a news summary, so that they can get an overview of the information.&nbsp;
However, the AI chatbot seems to <a href="https://www.benzinga.com/news/24/03/37559453/godfather-of-ai-explains-why-chatgpt-copilot-and-other-ai-chatbots-hallucinate">suffering from the same "hallucination"</a> that has been a consistent problem with its competitors like ChatGPT.&nbsp;
On Monday, popular tech YouTuber Marques Brownlee, also known as MKBHD, shared a screenshot of one such summary generated by Grok. The chatbot not only predicted the entire Apple event which is scheduled for Tuesday, but also sparked a discussion in the comment section.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38659381/elon-musk-meets-bitcoin-supporting-president-javier-milei-again-i-recommend-investing-in-a">Elon Musk Meets Bitcoin-Supporting President Javier Milei Again: &#8216;I Recommend Investing In Argentina&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">LOL @ Twitter&#39;s trending topics being summarized by Grok, and just straight up predicting the entire Apple event tomorrow <a href="https://t.co/aet1h2Dwew">pic.twitter.com/aet1h2Dwew</a>
&mdash; Marques Brownlee (@MKBHD) <a href="https://twitter.com/MKBHD/status/1787553324243259718?ref_src=twsrc%5Etfw">May 6, 2024</a></blockquote>
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In fact, one more user shared Grok's prediction about Apple's 2025 event about the iPhone 17.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">That's rookie stuff. It already predicted the 2025 event &#x1f602; <a href="https://t.co/A613HFD5xh">pic.twitter.com/A613HFD5xh</a>
&mdash; X Daily News (@xDaily) <a href="https://twitter.com/xDaily/status/1787559988484886879?ref_src=twsrc%5Etfw">May 6, 2024</a></blockquote>
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Why It Matters: In the comment section, some social media users also joked about Brownlee's critique of Grok. One person shared a meme saying, "Sir, @MKBHD is about to murder Grok. Tell @elonmusk."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Sir, <a href="https://twitter.com/MKBHD?ref_src=twsrc%5Etfw">@MKBHD</a> is about to murder Grok. Tell <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>" <a href="https://t.co/Ct4kNbcvgs">pic.twitter.com/Ct4kNbcvgs</a>
&mdash; Rob &#x7C; Part Time Investor (PTI) (@InvestingRob) <a href="https://twitter.com/InvestingRob/status/1787553636593410399?ref_src=twsrc%5Etfw">May 6, 2024</a></blockquote>
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The joke <a href="https://www.benzinga.com/news/24/04/38291724/do-bad-reviews-kill-companies-mkbhd-reacts-after-humane-ai-pin-video-sparks-concern-on-social-media">stemmed from Brownlee's review</a> of Humane AI Pin titled&nbsp; &#8220;The Worst Product I&#8217;ve Ever Reviewed… For Now.&#8221; Some people argued about the impact of his influence on emerging companies, saying it could kill the startup that made the product.&nbsp;
Meanwhile, Apple is set to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38634293/apple-should-turn-this-device-into-laptop-replacement-says-mark-gurman-the-days-of-">launch new iPads on Tuesday</a>, which include 11-inch and 12.9-inch OLED iPad Pro models with M4 chips, and 11-inch and an enlarged 12.9-inch iPad Air with M2 chips.
Photo courtesy: Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38659002/elon-musk-talks-immigration-starlink-mars-aliens-and-more-at-mi-global-if-you-have-to-die-somewhere">Elon Musk Talks Immigration, Starlink, Mars, Aliens, And More At MI Global: &#8216;If You Have To Die Somewhere, Might As Well Be Mars&#8217;</a>

Social Media

Elon Musk's Grok Generates Summary Of An Entire Apple Event That Has Yet To Take Place, X User Wants To Know If MKBHD Will Now 'Murder' The AI Chatbot

The Offering consists of 1,500,000 common shares and warrants to purchase 1,500,000 common shares. Each common share is to be sold together with one warrant at a combined public offering price of&nbsp;US$1.55, for gross proceeds of approximately&nbsp;US$2.3 million&nbsp;before deducting underwriting discounts and offering expenses. The warrants will have an exercise price of approximately&nbsp;US$1.82&nbsp;per share, are exercisable immediately and will expire three years following the date of issuance.&nbsp; In addition, the Company granted the underwriter a 45-day option to purchase up to an additional&nbsp;5 percent&nbsp;of the number of common shares and/or warrants offered in the Offering.&nbsp;

Reported Earlier, GreenPower Motor Company Prices $2.3M Public Offering Of Shares And Warrants

2024 Macro Predictions: Sideways 2.0

Sector Insights: What Could Go Right In 2024?

iShares Core 5-10 Year USD Bond ETF declares monthly distribution of $0.1510

iShares Core 5-10 Year USD Bond ETF declares monthly distribution of $0.1559

Staying Nimble While Seeking Income

Adam Abbas' Fixed Income Market Commentary - Q1 2024

Global ETF Market Facts: 3 Things To Know From Q1 2024

iShares Core 5-10 Year USD Bond ETF declares monthly distribution of $0.1549

Shelter Out Of Place: Why It's Too Soon To Write Off Policy Cuts In 2024

The Quandary In The Bond Markets

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