Latest News for Infinity Lithium Corp Stock (OTC:INFCF)

Infinity Lithium Corp Ltd is a mineral development company. Its San Jose Lithium Project is located in the western Spanish region of Extremadura and is in proximity to the town of Caceres. The San Jose Project will be developed by open-pit methods with the ore treated and refined onsite to produce high-quality, battery-grade lithium carbonate.

INFINITY LITHIUM CORP by INFINITY LITHIUM CORP LTD.

Infinity Lithium Corp Ltd

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

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Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

China&#8217;s major banks are reportedly halting transactions related to Russia, due to concerns over U.S. sanctions. This has led to a surge in the use of alternative channels for payments, including cryptocurrency, by Chinese companies conducting business with Russia.
What Happened: The Agricultural Bank of China Ltd, Bank of China Ltd, and China Construction Bank Corp are among the banks that have significantly reduced their financing of Russia-related transactions. Reuters reported citing sources that this has caused a significant problem for small Chinese exporters.
As a result, some Chinese companies are turning to smaller banks on the border and alternative financing channels, including cryptocurrency, despite its ban in China since 2021. Others have chosen to withdraw from the Russian market entirely.
&#8220;You simply cannot do business properly using the official channels,&#8221; a Guangdong-based company&#8217;s founder, Wang, who asked to be identified only by his family name. 
According to the report, the U.S. has imposed a series of sanctions on Russia and Russian entities since the country&#8217;s invasion of Ukraine in 2022. 
The threat of extending these sanctions to Chinese banks, which the U.S. accuses of supporting Moscow&#8217;s war effort, has led to a reduction in financial support for non-military trade from China to Russia.
The leader of a trade association in a southeastern Chinese province, representing Chinese enterprises engaged with Russian affairs, mentioned that transactions between China and Russia will likely shift towards clandestine routes. 
He emphasized the inherent risks associated with such methods. According to a Russian banker based in Moscow, resorting to cryptocurrency for payments might become the sole viable choice, considering the impossibility of passing through KYC procedures at Chinese banks, irrespective of their size, following the ban imposed in 2021.
See Also: <a href="https://www.benzinga.com/news/24/04/38480393/gold-soars-against-the-odds-eastern-buying-spree-or-1970s-redux-billionaire-investor-david-einhorn-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gold Soars Against The Odds: Eastern Buying Spree Or 1970s Redux? Billionaire Investor David Einhorn Thinks There&#8217;s A &#8216;Secular Trend&#8217;</a>
Why It Matters: The U.S. has been increasingly vocal about China&#8217;s role in <a href="https://www.benzinga.com/news/24/04/38373137/eus-top-diplomat-in-asia-warns-china-over-russia-ties-trade-imbalance-we-have-to-stand-up-for-oursel">supporting Russia</a> amid its war in Ukraine. This has led to discussions about potential sanctions on Chinese banks, a move that could have significant implications for global trade.
During a meeting held in <a href="https://www.benzinga.com/news/24/04/38454152/antony-blinken-raises-alarm-over-xi-jinpings-support-for-russia-during-us-china-talks">Beijing last week</a>, U.S. Secretary of State Antony Blinken expressed apprehensions regarding China&#8217;s backing of Russia&#8217;s military actions, which could potentially strain the ongoing endeavors to improve relations between the two nations.
U.S. Treasury Secretary Janet Yellen <a href="https://www.benzinga.com/news/24/04/38138081/janet-yellen-threatens-beijing-with-us-sanctions-standing-in-mainland-china-if-they-assist-russia-in">has warned</a> Chinese banks and exporters against aiding Russia&#8217;s military capacity, citing potential sanctions. This latest development suggests that Chinese banks are taking these warnings seriously, potentially signaling a shift in China&#8217;s approach to its relationship with Russia.
Meanwhile, China&#8217;s support for Russia has been a major point of contention in its relations with the U.S. and the EU. The U.S. has <a href="https://www.benzinga.com/markets/asia/24/04/38380008/us-mulls-sanctions-on-beijing-banks-for-alleged-role-in-putins-war-in-ukraine-china-cant-have-it-bot">mooted sanctions</a> on Chinese banks over their support for Russia&#8217;s war in Ukraine, a move that could further exacerbate tensions between the two superpowers.
Read Next: <a href="https://www.benzinga.com/news/24/04/38474838/us-china-set-to-hold-first-high-level-talks-on-ai-says-blinken?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US, China Set To Hold First High-Level Talks On AI, Blinken Confirms: TikTok &#8216;Did Not Come Up&#8217; In Discussion</a>
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China's Big Banks Halt Russia Transactions Over US Sanctions, Forcing Firms To Resort To 'Underground' Channels: Report

Editor&#8217;s note: This story was updated with more details from the media report and background about FSD testing in China
EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is reportedly partnering with Beijing-based internet company Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) in an attempt to introduce its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38479312/watershed-moment-says-tesla-analyst-as-elon-musk-makes-surprise-china-visit-to-repo" target="_blank" rel="noreferrer noopener">driver assistance features</a> in China.
What Happened:&nbsp;The partnership will focus on providing high-precision, lane-level mapping and navigation data for China,&nbsp;Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-29/tesla-clears-key-china-fsd-hurdle-with-baidu-mapping-deal" rel="noreferrer noopener">reported</a>, citing people familiar with the matter.&nbsp;This data is crucial for deploying Tesla&#8217;s Full Self-Driving (FSD) software in the East Asian market.
The report comes on the heels of Tesla CEO&nbsp;Elon Musk&#8216;s unannounced&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38479312/watershed-moment-says-tesla-analyst-as-elon-musk-makes-surprise-china-visit-to-repo" rel="noreferrer noopener">trip to China</a>&nbsp;over the weekend, fueling speculation about FSD&#8217;s rollout in the country.
Why It Matters:&nbsp;During Tesla&#8217;s recent earnings call, Musk expressed his desire to launch FSD in new markets, including China, pending regulatory approval.
FSD, while requiring active driver supervision currently, is a key technology in Tesla&#8217;s vision of achieving full autonomy. Musk has&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta" rel="noreferrer noopener">emphasized the importance</a>&nbsp;of FSD for Tesla&#8217;s future value, stating last week, "If somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor in the company.
Exactly a year ago, it was reported that Tesla was about to start large-scale&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/23/04/31673037/tesla-said-to-finally-begin-large-scale-fsd-testing-in-china-soon" rel="noreferrer noopener">FSD testing in China</a>. So far, Chinese customers who have purchased the optional FSD capability have not been granted access to the FSD Beta program running in North America since October 2020.
The news also comes on the heels of smartphone giant-turned-EV-maker Huawei&nbsp;unveiling&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38404191/threat-for-tesla-apples-chinese-rival-huawei-launches-new-software-for-intelligent-driving" rel="noreferrer noopener">its new software brand</a>&nbsp;for intelligent driving, &#8220;Qiankun,&#8221; as part of its plan to establish a significant presence in the EV industry.
FSD, however, has also raised some concerns over safety although some Tesla executives <a href="https://www.benzinga.com/government/24/04/38176458/tesla-exec-says-we-wont-be-shy-to-share-data-to-prove-fsd-is-safer-than-human-drivers">have repeatedly said</a> it is much better than human drivers.
Price Action:&nbsp;Tesla stock closed down 1.11% at $168.29 on Friday, according to data from&nbsp;<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Benzinga Pro</a>, but was up 0.37% after the closing bell. The stock is down 32.26% year-to-date.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/04/38476093/elon-musk-ceo-questions-european-space-agencys-lack-of-reusability-for-its-ariane-6-launch-vehicle">Elon Musk CEO Questions European Space Agency&#8217;s Lack Of Reusability For Its Ariane 6 Launch Vehicle</a>
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Regulations

Tech

Media

BIDU

TSLA

Musk's China Mission Pays Off? Tesla Reportedly Inks FSD Deal With Internet Giant Baidu (UPDATED)

Outlook
Philips reiterates its confidence in delivering the 2025 plan, acknowledging that uncertainties remain. For the full year 2024, Philips continues to expect 3-5% comparable sales growth and an Adjusted EBITA margin of 11-11.5%.&nbsp;
The expected free cash flow is now increased to EUR 0.9-1.1 billion in 2024, including the receipt from insurers for the Respironics product liability claims and the remaining payment related to the economic loss settlement.&nbsp;
The personal injury and medical monitoring litigation settlement payment is expected in 2025. The outlook excludes the potential impact of other previously disclosed Philips Respironics-related legal proceedings, including the investigation by the US Department of Justice.

Guidance

Koninklijke Philips Continues To Expects 3-5% Comparable Sales Growth And Adjusted EBITA Margin Of 11-11.5%; Sees Free Cash Flow Of EUR 0.9B-1.1B

Koninklijke Philips Reported Q1 Comparable Sales Growth Of 2.4% And Comparable Order Intake -3.8%

Koninklijke Philips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>) reported quarterly earnings of $0.28 per share which beat the analyst consensus estimate of $0.26 by 8.46 percent. This is a 17.5 percent increase over earnings of $0.24 per share from the same period last year. The company reported quarterly sales of $4.494 billion which beat the analyst consensus estimate of $4.168 billion by 7.82 percent. This is a 0.49 percent increase over sales of $4.472 billion the same period last year.

Earnings Beats

Koninklijke Philips Q1 2024 Adj EPS $0.28 Beats $0.26 Estimate, Sales $4.494B Beat $4.168B Estimate

Frankfurt-based tech company Northern Data (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NDTAF#OTC">NDTAF</a>) has seen a significant change in its business model, which has caught the eye of investment bank Berenberg. 
What Happened: Northern Data, previously known for its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining operations, has shifted its focus to cloud solutions and data center infrastructure. This transformation has led Berenberg to predict a substantial increase in the company&#8217;s stock value, <a href="https://www.cnbc.com/2024/04/29/bitcoin-miner-and-nvidia-ai-cloud-partner-northern-data-could-go-up-50percent-berenberg-says.html">reported</a> CNBC.
The bank has initiated coverage of the company&#8217;s stock with a Buy rating and a price target of 39 euros ($41.84) per share, indicating a potential 53.2% upside from the current share price.
The company, listed on the Frankfurt Stock Exchange, operates three main divisions: Peak Mining for bitcoin mining, Taiga Cloud certified as an "Elite" partner of NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for cloud computing, and Ardent Data Centers for data center infrastructure. Berenberg believes that the market has largely overlooked the growth potential of Taiga Cloud&#8217;s offerings.
"We believe that the significant investments that Northern Data has made in the latest liquid-cooling mining technology and the expansion of the company at its existing North Dakota and new Texas sites should enable it to achieve high bitcoin production and mining profitability," Berenberg analysts Gerhard Orgonas and Jenna Xu said in a note to clients. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38478483/crypto-analyst-predicts-this-altcoin-will-explode-260-in-2024-and-its-not-dogecoin-or-shib?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Analyst Predicts This Altcoin Will Explode 260% In 2024, And Its Not Dogecoin Or Shiba Inu</a>
Despite the recent changes, this isn&#8217;t the first transformation for Northern Data. The company, formerly known as Biosilu Healthcare, was a pharmaceutical broker for Asian markets until early 2018. It then shifted to crypto mining operations and was renamed Northern Bitcoin, making it one of the earliest listed firms to enter the crypto scene.
With the recent acquisition of a data center in Pittsburgh, Northern Data is expected to continue evolving. The company also stands to benefit from advances made by its subsidiary, Ardent Data Centers, in liquid-cooling technology for its crypto mining operations.
Why It Matters: The shift in Northern Data&#8217;s business model comes at a crucial time for the cryptocurrency industry. <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38364309/bitcoin-miners-in-for-a-rough-ride-after-halving-report">A recent report</a> by Coinshares predicts a substantial rise in production costs for Bitcoin miners due to the halving, with electricity and overall production costs nearly doubling.
Meanwhile, Bitcoin miners are upgrading their i<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38350483/bitcoin-miners-upgrade-infrastructure-embrace-ai-to-prepare-for-dip-in-revenue-after-halvi">nfrastructure and embracing AI</a> to prepare for a potential dip in revenue following the halving. This shift in strategy is reflected in Northern Data&#8217;s move towards cloud solutions, which could position the company for significant growth in the coming years.
Furthermore, industry leaders like Block are also <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38413962/jack-dorsey-wants-to-make-bitcoin-mining-as-easy-as-plugging-in-a-lamp">working to make Bitcoin mining more accessible</a>, with the development of a complete Bitcoin mining system. 
Meanwhile, other major players in the industry, such as Marathon Digital, are also making strategic moves to adapt to the changing landscape. Marathon Digital has raised its <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38456246/bitcoin-miner-marathon-digital-targets-its-hash-rate-to-double-in-2024">2024 hash rate</a> growth target in response to Bitcoin&#8217;s fourth halving event, which reduced miners&#8217; block subsidy rewards from 6.25 BTC to 3.125 BTC.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38460505/are-dogecoin-and-shiba-inu-primed-for-the-next-leg-up?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Are Dogecoin And Shiba Inu Primed For The Next Leg Up?</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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NVDA

This Nvidia Partner And Bitcoin Miner Stock Could Surge By 50%, Say Analysts

In a bid to challenge Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) flagship products, the iPhone and Vision Pro, top competitors,&nbsp;Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and&nbsp;Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), are reportedly making significant changes to their strategies.
What Happened: In his latest weekly &#8220;Power On&#8221; newsletter, Bloomberg columnist, Mark Gurman said that the Mark Zuckerberg-led company&#8217;s <a href="https://www.benzinga.com/news/24/04/38372183/meta-takes-a-leaf-out-of-googles-playbook-aims-to-make-quest-os-the-android-of-mixed-reality">decision to open up its virtual reality</a> operating system to all headset manufacturers can be seen as a direct challenge to Apple&#8217;s closed ecosystem.
&#8220;That's the same approach that made Windows the dominant computer operating system and Android the most used smartphone software,&#8221; said Gurman, adding, &#8220;It's also a potential opportunity to get a jump on Apple.&#8221;&nbsp;
See Also:&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>
Meanwhile, Google has <a href="https://www.benzinga.com/news/24/04/38331602/googles-deepmind-to-lead-unified-ai-charge-as-company-seeks-to-outpace-microsoft">restructured its management</a>, appointing Pixel hardware chief&nbsp;Rick Osterloh&nbsp;to oversee the Android operating system. For years, Osterloh and the Pixel team have faced pressure to generate greater revenue from their devices. 
However, within the Android team, the Pixel division was perceived simply as another client, akin to Samsung Electronics Co., rather than being recognized as an integral component of the company&#8217;s operations.
&#8220;The Google move mirrors Tim Cook's first major management overhaul in 2012, when he elevated services chief Eddy Cue and then-macOS software leader Craig Federighi to broader roles, while pushing out former iOS head Scott Forstall,&#8221; Gurman stated. 
He went on to note another conceivable factor contributing to the shift at Google — the tech giant&#8217;s struggle to establish a presence in the mixed-reality realm. Despite ongoing efforts in augmented reality development over the years, Google noticeably lags behind Apple and Meta in this arena. 
Why It Matters: Apple&#8217;s Vision Pro, a mixed-reality headset, has been a topic of discussion in the tech industry. <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">Despite its high price</a>, the device has been praised for its advanced technology. 
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.
Meta CEO&nbsp;Mark Zuckerberg&nbsp;has been critical of the Vision Pro. During Meta&#8217;s first-quarter earnings call, he described the headset as <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">&#8220;fashionable AI glasses without a display.&#8221;</a> On the other hand, OpenAI CEO Sam Altman lauded it as the &#8220;<a href="https://www.benzinga.com/general/entertainment/24/02/37048792/sam-altman-lauds-apple-vision-pro-second-most-impressive-tech-since-the-iphone">second most impressive tech</a> since the iPhone&#8221; by OpenAI co-founder&nbsp;Sam Altman.
Vision Pro has also faced criticism for its high price, with some <a href="https://www.benzinga.com/general/entertainment/24/02/37118665/apple-vision-pro-why-some-users-have-decided-to-return-the-headset-while-others-cant-imagin">users returning the device</a> due to design and performance issues, but the tech giant has high hopes for the headset, considering their <a href="https://www.benzinga.com/news/24/03/37910624/apple-sets-sight-on-china-vision-pro-headset-launching-this-year">plans for its international expansion</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:&nbsp;<a href="https://www.benzinga.com/news/24/04/38474588/elon-musk-claps-back-at-facebook-co-founders-consumer-fraud-accusations-against-tesla-should-go-to-j?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Claps Back At Facebook Co-Founder&#8217;s Consumer Fraud Accusations Against Tesla: &#8216;Should Go To Jai</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.
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Social Media

GOOG

GOOGL

How Apple's Arch Rivals Meta And Google Are Revamping Their Plans To Take On The Might Of iPhone And Vision Pro

Crypto analysts have observed a significant decrease in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) whale activity since March 14, sparking speculation about a potential price surge soon.
What Happened: Ali Martinez, a prominent crypto analyst, took to social media platform X to highlight the unusual lull in Bitcoin whale transactions. He suggested that a sudden increase in whale activity could be the catalyst for a surge in Bitcoin prices.
&#8220;Since March 14, there&#8217;s been a noticeable dip in #Bitcoin whale activity. A surge in whale transactions could be the spark needed to boost $BTC prices!&#8221; Ali wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Since March 14, there&#39;s been a noticeable dip in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> whale activity. A surge in whale transactions could be the spark needed to boost <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> prices! <a href="https://t.co/hd6fwpp9Gp">pic.twitter.com/hd6fwpp9Gp</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1784146303963840978?ref_src=twsrc%5Etfw">April 27, 2024</a></blockquote>
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Whales, a term used to describe individuals or entities with significant <a href="https://www.benzinga.com/topic/whales">cryptocurrency holdings</a>, have the potential to influence market dynamics. The absence of whale activity in the Bitcoin market has led to speculation about a potential price rally.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38475783/bitcoin-faces-second-danger-zone-as-analyst-warns-of-potential-downside-heres-what-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Faces &#8216;Second Danger Zone&#8217; As Analyst Warns Of Potential Downside: Here&#8217;s What To Expect</a>
Why It Matters: The recent decrease in whale activity follows a series of significant events in the cryptocurrency market. Just a day before Martinez&#8217;s observation, a whale made waves by depositing a staggering $77.67 million worth of Bitcoin <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38476692/as-bitcoin-plunges-whale-makes-waves-with-77-67m-deposit-into-kraken">into the Kraken exchange</a>. This move was particularly noteworthy due to the size of the transaction and the whale&#8217;s previous accumulation.
However, the market is currently in a precarious position, with a potential downside looming, according to a prominent crypto analyst. The analyst, known by the pseudonym RektCapital, has cautioned that Bitcoin may be heading for another downturn within <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38475783/bitcoin-faces-second-danger-zone-as-analyst-warns-of-potential-downside-heres-what-">the next two weeks</a>. This warning adds a layer of complexity to the current market situation.
Price Action: Bitcoin last traded at $62,659, marking a decrease of 0.71% over the past 24 hours. However, it boasts a notable 41.85% increase year-to-date. according to&nbsp;<a href="https://benzinga.grsm.io/register174" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38479551/is-the-memecoin-supercycle-over-mad-crypto-alpha-with-ivan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is The &#8216;Memecoin Supercycle&#8217; Over? Mad Crypto Alpha With Ivan</a>
Image: Eivind Pedersen from Pixabay
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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. 
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Whales On Vacation? Bitcoin Slumber Sparks Talk Of Price Explosion — Analyst Says This 'Could Be The Spark Needed'

Frequent leaker&nbsp;Sonny Dickson on Sunday shared a photo <a href="https://www.benzinga.com/news/24/04/38086575/iphone-16-rumors-roundup-everything-we-know-about-apples-next-flagship">revealing the screen sizes for the</a> upcoming Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone 16 lineup, along with details about the camera bump.
What Happened: Dickson took to X, formerly Twitter, and shared an image, which appears to showcase the dummy models of the upcoming iPhone series, reiterating rumors about <a href="https://www.benzinga.com/news/23/05/32524166/apples-iphone-16-pro-max-design-leak-reveals-impossibly-gigantic-display">gigantic iPhone 16 Pro Max sizes</a>. 
As per the image, the standard iPhone 16 will retain the 6.1-inch screen size, while the Pro model will feature&nbsp;a 6.3-inch screen. The Plus&nbsp;model will maintain&nbsp;the traditional 6.7-inch screen, but&nbsp;the iPhone Pro Max will have a larger 6.9-inch screen.
The photo also suggests that the next Pro and Pro Max models will be slightly wider than the regular and Plus sizes, a trend that was also <a href="https://www.benzinga.com/news/23/09/34501203/apple-iphone-15-series-with-usb-c-tetraprism-camera-announced-check-price-and-availability-details">observed in the iPhone 15 lineup</a>. It also showcases different camera positioning for the standard and Plus version of the iPhone 16. 
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38460718/elon-musk-weighs-in-after-x-user-says-banning-tiktok-sets-a-precedent-that-government-can-ban-any-ap?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Weighs In After X User Says &#8216;Banning TikTok Sets A Precedent That Government Can Ban Any App&#8230;&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/tVNl82VjYx">pic.twitter.com/tVNl82VjYx</a>
&mdash; Sonny Dickson (@SonnyDickson) <a href="https://twitter.com/SonnyDickson/status/1784540264872423518?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
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The latest leak was first <a href="https://appleinsider.com/articles/24/04/28/iphone-16-screen-sizes-allegedly-revealed-in-new-leak">reported</a> by AppleInsider. 
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: The leaked photo follows a series of revelations about the iPhone 16. Earlier in April, Dickson shared&nbsp;<a href="https://www.benzinga.com/24/04/38085117/leaked-iphone-16-dummies-hint-at-apples-biggest-most-extreme-redesign-in-years">dummy units of the iPhone 16 and iPhone 16 Pro</a>, showcasing significant design changes for the upcoming models. This leak, along with the latest one, provides a comprehensive look at the new iPhone&#8217;s design and specifications.
Moreover, rumors about the iPhone 16 series have been circulating for a while. In August last year, analyst&nbsp;Jeff Pu&nbsp;from&nbsp;Haitong International Securities&nbsp;shared insights into the potential enhancements that could redefine smartphone photography and connectivity, including the speculated&nbsp;<a href="https://www.benzinga.com/news/23/08/33873580/apple-iphone-16-pro-could-go-big-on-cameras-and-wireless-connectivity">inclusion of a 48-megapixel Ultra Wide camera sensor</a>&nbsp;in the iPhone 16 Pro. This suggests that the iPhone 16 series could bring significant improvements in camera technology.
Furthermore, the iPhone 16&#8217;s camera redesign may boost spatial video recording capabilities for the&nbsp;<a href="https://www.benzinga.com/news/24/02/36973556/apple-iphone-16s-rumored-camera-redesign-may-boost-spatial-video-recording-capabilities-for-vision-p">Vision Pro mixed reality headset</a>, a move that could further enhance the iPhone 16&#8217;s appeal.
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/24/04/38474588/elon-musk-claps-back-at-facebook-co-founders-consumer-fraud-accusations-against-tesla-should-go-to-j?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Claps Back At Facebook Co-Founder&#8217;s Consumer Fraud Accusations Against Tesla: &#8216;Should Go To Jail For Impersonating A Smart Person&#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.
Photo via Shutterstock

Rumors

Giant Leap For Apple? New Leak Of iPhone 16 Lineup Confirms Recent Rumors About Screen Sizes And Camera Bump

Venture capitalist Chamath Palihapitiya revealed his surprising ranking of Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) ventures beyond electric vehicles. He declared &#8220;<a href="https://www.benzinga.com/news/24/04/38396288/teslas-robotaxi-to-be-called-cybercab-elon-musk-says-self-driving-fleet-will-be-like-combination-of" target="_blank" rel="noreferrer noopener">Ride-sharing</a> is number one. And the absolute probably by an order of magnitude,&#8221; when asked about the company&#8217;s biggest potential growth areas.
The Autopilot-Fueled Revolution? Palihapitiya&#8217;s bullishness on ride-sharing stems from its potential synergy with Tesla&#8217;s <a href="https://www.benzinga.com/news/24/04/38351810/tesla-fsd-is-now-nearly-50-cheaper-than-when-elon-musk-called-it-very-low-just-under-a-year-ago">self-driving technology</a>. 
&#8220;In order for&nbsp;ride-sharing and ride-hailing to&nbsp;really&nbsp;work the way that they envision it, you will have level five autonomy supported in jurisdictions where&#8230; you can summon a car from your app and if you don&#8217;t have access to a mobile phone, you can go to these bus stop equivalents and just press a button and the car comes to you,&#8221; he said on the latest episode of the All-In Podcast.
This seamless user experience, he believes, powered by Tesla&#8217;s Autopilot technology, is &#8220;a gargantuan&nbsp;game changer.&#8221;
&#8220;Just to contrast,&nbsp;Uber&nbsp;and&nbsp;Lyft&nbsp;seemingly are profitable because they find pricing power to raise prices. So if Tesla enters in as the third player in that field and just guts pricing, which I think would make sense for them to do, I think this thing is just gangbusters nuclear,&#8221; he added.
However, a bullish Tesla analyst, whose fund includes the EV giant&#8217;s stock in its portfolio, last week <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38453144/teslas-robotaxi-plan-hasnt-excited-investors-but-fund-manager-gary-black-says-this-" target="_blank" rel="noreferrer noopener">highlighted the disconnect</a> between CEO Elon Musk&#8216;s emphasis on Tesla&#8217;s commitment to autonomy and institutional investor sentiment. However, he noted the potential for a narrative shift on Aug. 8, when Tesla is set to unveil its robotaxis.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks" target="_blank" rel="noreferrer noopener">Best Tech Stocks Right Now</a>
Charged Up On Energy:&nbsp;While ride-sharing took the pole position, Palihapitiya said the second-biggest opportunity was in Tesla&#8217;s energy business — something that even the company itself has been&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38064935/teslas-hidden-powerhouse-ev-giant-tries-to-shift-investor-focus-to-energy-business-amid-auto-slowdow" rel="noreferrer noopener">drawing more investor attention</a>&nbsp;to.
He pointed out the current state of affairs, saying, &#8220;Today in America, if you look at the energy infrastructure, the utilities keep raising rates and they keep raising rates independent of what it costs to generate energy.&#8221;
Palihapitiya proposed a bold solution: transforming millions of homes into &#8220;mini-utilities&#8221; equipped with Tesla solar panels and battery systems.&nbsp;
He said companies like&nbsp;Palmetto, a leading residential solar installer in which he has heavily invested in, are at the forefront of this movement.&nbsp;
These systems would grant homeowners independence from the traditional grid, allowing them to &#8220;be&nbsp;totally&nbsp;resilient and independent of the utilities.&#8221;
Palihapitiya believes this trend, coupled with net-metering policies that allow homeowners to sell excess solar energy back to the grid, could create a seismic shift in the energy landscape.&nbsp;
&#8220;So if you have 100 million of these mini utilities competing against 1,700 incumbents&#8230; that&#8217;s an upheaval of an enormous amount of market cap.&#8221;
Not So Optimistic On Optimus:&nbsp;While Palihapitiya is enthusiastic about Tesla&#8217;s ride-sharing and energy endeavors, he expressed some reservations about the company&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38395385/elon-musk-says-tesla-optimus-humanoid-robot-might-be-available-externally-by-the-end-of-next-year-he" rel="noreferrer noopener">humanoid robot project</a>,&nbsp;Optimus. He argues that &#8220;the conclusion that I came to&#8230; is I suspect instead of having a generalized robot, you have very specific use case robots that look differently.&#8221;
&#8220;So for example &#8230; there&#8217;s something called intuitive surgical, which is essentially a robot that operates on you. And if you look at that, it doesn&#8217;t look anything like what you would think a robot would look like,&#8221; he said.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38479312/watershed-moment-says-tesla-analyst-as-elon-musk-makes-surprise-china-visit-to-repo" target="_blank" rel="noreferrer noopener">&#8216;Watershed Moment,&#8217; Says Tesla Analyst As Elon Musk Makes Surprise China Visit To Reportedly Discuss FSD Rollout And Data Transfer Overseas</a>
Image made via photos on <a href="https://www.flickr.com/photos/cmichel67/25574710740">Flickr</a> and Shutterstock

Billionaire Investor Chamath Palihapitiya Ranks Tesla's Non-EV Businesses, Picks This As No. 1 'Absolute Probably By An Order Of Magnitude'

The U.S. economy is on the brink of a dreaded period of stagflation, a scenario where inflation rises and growth stalls, according to two economic experts.
What Happened: The U.S. economy&#8217;s first-quarter GDP growth rate of 1.6% was significantly lower than the expected 2.5%, <a href="https://www.businessinsider.in/policy/economy/news/the-us-economy-may-end-up-caught-in-a-dreaded-period-of-stagflation-2-experts-outline-the-scenario-and-how-to-keep-your-money-safe/articleshow/109649">reported</a> Business Insider. This is a worrying sign as it indicates a slowdown from previous quarters.
On the other hand, personal consumption expenditures, a key inflation metric, rose by 2.8% against a 2.7% consensus. This worrying combination of slower growth and rising inflation has reignited fears of stagflation.
Jeffrey Roach, the chief economist at LPL Financial, warned that investors may need to prepare for the resurgence of the stagflation debate. He pointed out that if stagflation were to take hold, it would not bode well for the markets.
&#8220;If you take [the] inflation report in conjunction with yesterday&#8217;s GDP report, I think what investors really have to start positioning themselves for is the resurgence of the stagflation debate,&#8221; said Roach according to the report. 
Mike Reynolds, the vice president of investment strategy at Glenmede, also acknowledged the potential risks of stagflation. &#8220;A couple of Fed officials are floating ideas of maybe additional rate hikes — that&#8217;s not the consensus — but the fact that it&#8217;s being talked about now is kind of indicative of the situation that we&#8217;re in,&#8221; he said.
See Also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38458581/feds-key-inflation-indicator-hits-2-8-dashes-rate-cut-hopes-traders-on-alert?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Fed&#8217;s Key Inflation Indicator Hits 2.8%, Dashes Rate Cut Hopes; Traders On Alert</a>
Why It Matters: The latest GDP and inflation figures have sparked concerns among investors, hinting at a potential economic downturn <a href="https://www.benzinga.com/news/24/04/38453174/us-economy-faces-worst-of-both-worlds-as-stagflation-threat-looms-large">worse than a recession</a>. The U.S. economy&#8217;s first-quarter growth, at an annualized rate of 1.6%, fell significantly short of the anticipated 2.5%, according to the Bureau of Economic Analysis.
Despite the current economic stability, the Federal Reserve&#8217;s decision to maintain high-interest rates throughout 2024 has raised questions about its potential <a href="https://www.benzinga.com/news/24/04/38425604/feds-high-interest-rate-policy-spurs-debate-over-economic-impact-this-is-the-path-of-a-potential-pro">impact on the economy</a>. Recent remarks from Fed Chair Jerome Powell and other policymakers have solidified the belief that rate cuts are unlikely in the coming months. In fact, there has been discussion about the possibility of one or two additional hikes if inflation fails to further ease.
Earlier in April, the U.S. economy was <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38109673/top-economist-flags-warning-signs-of-possible-recession-in-us-economy-it-certainly-">flagged for a possible recession</a> by Lakshman Achuthan, co-founder of the Economic Cycle Research Institute (ECRI) and business-cycle expert. The ECRI's Leading Economic Index, known for its near-perfect track record, has been on a downward trend for the past year, despite a recent leveling off, past patterns suggest that a dip in this index often precedes a recession.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Strong Quarterly Earnings Fuel Market Optimism Despite Inflation Concerns, Slowing Economic Growth</a>
Image Via Shutterstock 
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Economics

Stagflation Spectre Haunts US Economy: Experts Warn On Slow Growth And Inflation After Fed Officials Float Rate Hike Ideas

Former White House Chief of Staff Ron Klain believes <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" target="_blank" rel="noreferrer noopener">President </a><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" target="_blank" rel="noreferrer noopener">Joe Biden</a> does not require a major political strategy against Donald Trump, who he says is causing sufficient self-damage.
What Happened: Klain, in conversation with MSNBC host and former White House press secretary&nbsp;Jen Psaki&nbsp;on Sunday, stated,&nbsp;&#8220;I&nbsp;don't&nbsp;think&nbsp;it's&nbsp;a big political strategy to take down Donald Trump. I think Trump is busy taking himself down every day&#8221;.&nbsp;
"And&nbsp;it's&nbsp;important, though, for the president to&nbsp;make the contrast between&nbsp;the kind of presidency&nbsp;he's&nbsp;brought&nbsp;and what&nbsp;he'll&nbsp;do for four more years, and [what] Donald Trump has done, what Trump himself is saying&nbsp;he's&nbsp;going to if he gets the chance to come back to the White House,&#8221;&nbsp;he added.
This statement came in response to&nbsp;Psaki&#8217;s&nbsp;reference to&nbsp;Biden&#8217;s&nbsp;speech at the White House&nbsp;Correspondents'&nbsp;Association dinner, where Biden took humorous potshots at Trump, as reported by&nbsp;<a target="_blank" href="https://thehill.com/homenews/campaign/4627651-ex-biden-chief-of-staff-says-no-big-political-strategy-needed-for-trump-hes-busy-taking-himself-down-every-day/" rel="noreferrer noopener">The Hill</a>.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-consumer-defensive-stocks" rel="noreferrer noopener">Best Consumer Defensive Stocks Right Now</a>
Both&nbsp;Biden and Trump have secured the necessary delegates for their respective&nbsp;parties'&nbsp;nominations in this&nbsp;year&#8217;s&nbsp;presidential race, setting the stage for a rematch from their 2020 face-off.&nbsp;
The race&nbsp;is projected&nbsp;to be closely contested, with Trump leading Biden by less than half a point, according to polling averages from The Hill/Decision Desk HQ.
Why It Matters:&nbsp;Trump&#8217;s&nbsp;public image has been&nbsp;under scrutiny&nbsp;due to ongoing legal issues. Recently,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38479283/ex-trump-aide-says-melania-trump-not-happy-with-latest-revelations-in-hush-money-trial" rel="noreferrer noopener">Stephanie Grisham, a former Trump aide, revealed</a>&nbsp;that former First Lady&nbsp;Melania Trump&nbsp;is not pleased with the ongoing details of her&nbsp;husband&#8217;s&nbsp;hush money trial. The case centers on allegations that Trump falsified documents to hide a payment made to adult film actress Stormy Daniels.
A recent&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38476449/voters-reveal-whether-they-feel-donald-trump-is-receiving-fair-treatment-in-court-in-latest-poll" rel="noreferrer noopener">CNN poll</a>&nbsp;revealed that only 13% believe Trump&nbsp;is receiving&nbsp;fair treatment in his criminal trial. With a majority skeptical about a fair&nbsp;verdict,&nbsp;and many finding&nbsp;Trump&#8217;s&nbsp;behavior during the trial inappropriate,&nbsp;Trump&#8217;s&nbsp;legal troubles could potentially impact his chances in the upcoming election.
Read Next: <a href="https://www.benzinga.com/news/24/04/38478689/amid-latest-indictments-former-trump-aide-slams-ex-president-over-treatment-of-bodies-around-him-he" target="_blank" rel="noreferrer noopener">Amid Latest Indictments, Former Trump Aide Slams Ex-President Over Treatment Of &#8216;Bodies Around Him&#8217;: &#8216;He Takes Out Everybody Who Is Loyal To Him&#8217;</a>
Photo via Shutterstock
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'Trump Is Busy Taking Himself Down Every Day:' Former White House Chief Of Staff Says Biden Needs No 'Big Political Strategy'

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is facing a significant setback as its AI-powered ad tools are malfunctioning, leading to a waste of ad budgets and a decline in sales. This has prompted businesses to <a href="https://www.benzinga.com/news/24/03/37885090/mark-zuckerberg-led-meta-faces-class-action-lawsuit-over-alleged-misrepresentation-of-facebook-insta">reconsider their advertising strategies</a> on Meta&#8217;s platforms.
What Happened: Meta&#8217;s automated ad tools, particularly the Advantage Plus shopping campaigns, have been misfiring since Valentine&#8217;s Day, <a href="https://www.theverge.com/2024/4/28/24141585/meta-ai-advantage-plus-automated-ad-glitch-cpm">reported</a> The Verge. The glitch has resulted in a significant increase in cost per impressions or CPMs and a failure to generate sales, causing small businesses to lose their ad budgets.
However, the recurring issues, the Mark Zuckerberg-led company has reportedly not been forthcoming about the performance glitches, leading to widespread uncertainty among advertisers. The company&#8217;s customer support has also been <a href="https://www.benzinga.com/news/24/03/37501959/meta-employees-fear-layoffs-as-companys-year-of-efficiency-becomes-permanent-report">affected by recent layoffs</a>, with many inquiries now being directed to AI chatbots.
Marketers say that as opposed to <a href="https://www.benzinga.com/markets/equities/24/01/36678631/metas-ai-magic-ad-returns-reportedly-soar-32-with-breakthrough-technology-boost">Meta&#8217;s enthusiastic promotion</a> of Advantage Plus shopping campaigns as an effortless, &#8220;set it and forget it&#8221; automated solution to online advertising during earnings calls, the reality has not matched the hype.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38463199/dan-ives-says-ai-is-the-fourth-industrial-revolution-after-robust-results-from-micr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dan Ives Says AI Is The &#8216;Fourth Industrial Revolution&#8217; After &#8216;Robust&#8217; Results From Microsoft And Google: &#8216;1995 Moment&#8217;</a>
&#8220;Meta's unwillingness to be transparent or accountable with the performance issues and glitches is causing mass uncertainty,&#8221; stated Karl Baker, founder of meditation startup Mindfulness Works.
&#8220;We have a couple of clients for whom we completely stopped Advantage Plus due to these anomalies,&#8221; said Aniruddha Mishra, director of growth at Node Media.
Although Meta has refunded some affected businesses, the issues persist, with some clients experiencing CPMs three to four times higher than last year. Meta has denied any glitches, insisting that the tool is functioning as intended.
&#8220;The only thing [Meta] acknowledged was there was a platform bug on February 14th and apologized for the inconvenience,&#8221; said RC Williams, the co-founder of marketing agency 1-800-D2C. 
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
As per the report, despite Meta&#8217;s assurances, many businesses have stopped using Advantage Plus and reverted to manual ad campaigns. This development is significant as Meta had initially pitched Advantage Plus as a faster and more efficient alternative to manual ad campaigns.
Why It Matters: The malfunctioning of Meta&#8217;s AI ad tools comes at a time when the company is already facing legal challenges. In March, Meta was <a href="https://www.benzinga.com/news/24/03/37885090/mark-zuckerberg-led-meta-faces-class-action-lawsuit-over-alleged-misrepresentation-of-facebook-insta">hit with a class-action lawsuit</a> over allegations of misrepresenting the audience size for its Facebook and Instagram advertising services. 
Meanwhile, the ad system issues have created an opportunity for competitors. Earlier this month, Elon Musk invited advertisers to <a href="https://www.benzinga.com/news/24/04/38216195/elon-musk-asks-advertisers-to-return-to-x-after-months-of-tussle-with-disney-apple-and-others-as-zuc">return to his social media platform</a>, X, formerly Twitter, following reports of significant issues in Meta&#8217;s advertising system. 
Check out more of Benzinga's Consumer Tech coverage by <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/analyst-ratings/analyst-color/24/04/38459459/put-it-in-the-louvre-tech-bull-praises-google-parent-alphabets-major-breakout-quart?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8221;Put It In The Louvre:&#8217; Tech Bull Praises Google Parent Alphabet&#8217;s &#8216;Major Breakout Quarter,&#8217; Says It Is &#8216;Now In The Party&#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.

Mark Zuckerberg-Led Meta's 'Set It And Forget It' AI Tools Misfire, Wasting Ad Budgets And Driving Away Businesses: Report

Electric vehicle maker Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) has revealed <a href="https://www.benzinga.com/news/23/02/30990814/want-to-charge-your-electric-vehicle-faster-rivian-may-have-a-solution-according-to-new-patent">a new charger design</a> that will open its Rivian Adventure Network (RAN) to a wider range of EVs later this year.
Expanding Accessibility:&nbsp;In a press release, Rivian announced plans to make the RAN accessible to all compatible EVs through the new charger design. These chargers will cater to a broader range of vehicles by featuring compatibility with&nbsp;both&nbsp;400-volt and 800-volt battery packs, utilizing CCS connectors, and offering support for the North American Charging Standard (NACS).
While an approved adapter will be initially needed for vehicles using Tesla&#8217;s NACS chargers, Rivian intends to introduce native NACS charging support through a future hardware update.
Commitment To Infrastructure Expansion: &#8220;Rivian exists to address two specific needs, the electrification of our transportation system and supporting the transition of our power grid to carbon-free energy sources,&#8221; said Paul Frey, Rivian&#8217;s Vice President of Battery, Charging, and Adventure Products.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Electrons for all! Later this year we'll begin opening the Rivian Adventure Network to compatible electric vehicles. We'll also be introducing new chargers that feature a convenient tap-to-pay experience and the ability to provide fast charging to a wide range of EVs across a… <a href="https://t.co/pE7CX0NNr5">pic.twitter.com/pE7CX0NNr5</a>
&mdash; Rivian (@Rivian) <a href="https://twitter.com/Rivian/status/1783921089275678739?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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All new RAN stations will be built&nbsp;with the next-generation chargers, and&nbsp;existing sites will be retrofitted&nbsp;with the&nbsp;new&nbsp;hardware. Additionally, the company prioritizes installing pull-through charging stalls at new locations whenever feasible, ensuring convenient access for vehicles towing trailers.
Why It Matters:&nbsp;The updated hardware design allows Rivian to leverage funding from the U.S. National Electric Vehicle Infrastructure (NEVI) program, along with&nbsp;additional state and utility programs focused on supporting EV charging infrastructure growth.
This development comes after Rivian previously advised its drivers <a href="https://www.benzinga.com/news/24/04/38022983/rivian-urges-drivers-to-avoid-third-party-adapters-at-tesla-superchargers" target="_blank" rel="noreferrer noopener">against using third-party adapters</a> at Tesla Superchargers. Rivian vehicles utilize a Combined Charging System (CCS) port, requiring an adapter for compatibility with Tesla&#8217;s Supercharger network, which uses NACS. News emerged in March 2024 suggesting Rivian vehicles had achieved compatibility with Tesla&#8217;s Superchargers.
Photo courtesy: Rivian

RIVN

Rivian Unveils New Charger Design, Opens Adventure Network To Other EVs

As Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) faces some uncertainty, the crypto world is buzzing with talk of the &#8220;Memecoin Supercycle.&#8221;
Bitcoin Faces &#8216;Second Danger Zone&#8217;
Bitcoin is facing a challenging moment, with a possible downturn on the horizon, as warned by a pseudonym <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38475783/bitcoin-faces-second-danger-zone-as-analyst-warns-of-potential-downside-heres-what-">crypto analyst</a>, RektCapital. Comparing the current correction to Bitcoin&#8217;s price action around the 2016 halving, the analyst foresees similarities in the potential for two corrective waves. 
RektCapital suggests that Bitcoin might experience another pullback in the next couple of weeks, possibly remaining in a &#8220;post-halving danger zone&#8221; until the following month. 
Emphasizing Bitcoin&#8217;s critical support level of around $60,000, the analyst indicates its importance in potentially enduring the forthcoming weeks&#8217; volatility.
Whale Makes Waves With $77.67M Bitcoin Deposit
A significant Bitcoin whale has made waves in the crypto market by depositing a whopping $77.67 million worth of BTC into the Kraken exchange. This sizable transaction, totaling 1,200 Bitcoin, caught the attention of market watchers, especially considering the whale&#8217;s previous accumulation of 24,755 BTC valued at $1.68 billion. 
The whale&#8217;s average purchase price during the accumulation period was $68,051 per Bitcoin. <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38476692/as-bitcoin-plunges-whale-makes-waves-with-77-67m-deposit-into-kraken">Crypto analysts note</a> that exchange inflows from Bitcoin whales have surged to their highest point in five months, indicating a potential trend of significant holders cashing in profits, possibly foreshadowing a substantial price correction in the near future.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38469336/meme-coins-are-a-pure-ponzi-and-destroying-crypto-says-trader-who-thinks-dogecoin-was-diff?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meme Coins Are &#8216;A Pure Ponzi&#8217; And &#8216;Destroying Crypto,&#8217; Says Trader Who Thinks Dogecoin Was Different</a>
Crypto Analyst Predicts 260% Surge For This Altcoin
Cryptocurrency strategist Altcoin Sherpa predicts an impressive surge in the value of Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), forecasting a 267% increase by the end of 2024, potentially surpassing $500. He suggests that acquiring Solana at current levels could yield significant gains, emphasizing potential future profitability. 
Additionally, Altcoin Sherpa <a href="https://twitter.com/AltcoinSherpa/status/1783907000427946308?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1783907000427946308%7Ctwgr%5E3fc5a48b01044cd11610b598274cc90a08a3ca5e%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.benzinga.com%2Fmarkets%2Fcryptocurrency%2F24%2F04%2F38478483%2Fcrypto-analyst-predicts-this-altcoin-will-explode-260-in-2024-and-its-not-dogecoin-or-shib">highlights</a> opportunities in AI-focused cryptocurrencies Fetch.ai (FET) and Render (RNDR), anticipating favorable buying levels amidst market volatility. He suggests starting to accumulate these coins at specific price levels for potential rebounds and rallies. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>: Averaging into SOL is never a bad idea IMO. I think this goes to $500+ later this year. Anywhere from $130-$110 would be a gift (not quite expecting that yet) <a href="https://t.co/eCTNfYDMBK">pic.twitter.com/eCTNfYDMBK</a>
&mdash; Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1783912486229430588?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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<h3 class="wp-block-heading">What Happened To The &#8216;Memecoin Supercycle&#8217;? </h3>
Ivan Crnogatić analyzed the current state of meme coins and whether the &#8220;memecoin supercycle&#8221; is coming to an end in his <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38479551/is-the-memecoin-supercycle-over-mad-crypto-alpha-with-ivan">weekly column</a> &#8220;Mad Crypto Alpha.&#8221; He delved into why venture capitalists (VCs) hold negative views toward meme coins, citing concerns about industry legitimacy and regulatory scrutiny.
Crnogatić also pointed out that VCs have contributed to the rise of meme coins through their &#8220;tokenomics&#8221; strategies. He also discussed the recent performance of top meme coins, noting significant declines in their value over the past month. 
Despite these challenges, Ivan suggested that the market may witness a consolidation into more established winners. He remained optimistic about Bitcoin&#8217;s potential for further growth, especially given geopolitical instability and demographic changes. Ultimately, Ivan concluded that the memecoin supercycle may not be over yet, hinting at a potential resurgence in the near future.
Price Action: Bitcoin was last trading down over 2% at $62,560.45. But, it has surged by 42.88% year to date, according to <a href="https://benzinga.grsm.io/register174" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38461748/holding-10-000-dogecoin-could-make-you-a-millionaire-predicts-crypto-analyst?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Holding 10,000 Dogecoin Could Make You A Millionaire, Predicts Crypto Analyst</a>
Image Via 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>

$SOL

Bitcoin Faces Potential Downturn As Analysts Eye 'Second Danger Zone' — But What Happened To 'Memecoin Supercycle?'

In a significant development for California&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36550777/ev-stampede-coming-to-america-with-over-70-models-in-next-2-years-says-cox-automoti" rel="noreferrer noopener">electric vehicle infrastructure</a>,&nbsp;the Golden State now boasts one EV charging station for every five gas stations.
What Happened: As reported earlier by&nbsp;<a target="_blank" href="https://www.teslarati.com/california-ev-charging-milestone/" rel="noreferrer noopener">Teslarati</a>, the office of Governor&nbsp;Gavin Newsom&nbsp;announced that California now has 105,000 public or shared private EV chargers. This figure surpasses the one-fifth marker of the approximately 10,423 retail gas stations in the state, according to 2021 data from Statista.
While the state still has a long way to go before EV charging stations outnumber gas refueling stations, California is leading the U.S. in achieving multiple EV goals, especially considering its 2035 ban on new gas car sales.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Huge news for California drivers – the Tesla supercharging network is opening to non-Tesla vehicles! This adds thousands of fast chargers to California&#39;s EV charging network, bringing us to more than 105,000 public EV chargers – including 10,000 fast chargers – and counting. <a href="https://t.co/g69lIUkkT9">pic.twitter.com/g69lIUkkT9</a>
&mdash; California Governor (@CAgovernor) <a href="https://twitter.com/CAgovernor/status/1784255117912625458?ref_src=twsrc%5Etfw">April 27, 2024</a></blockquote>
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See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-ev-penny-stocks" rel="noreferrer noopener">Best EV Penny Stocks</a>
California&#8217;s EV charging infrastructure and overall adoption of battery-electric vehicles (BEVs) are the highest in the country. The press release stated that if California were a country, it would rank fourth in global EV sales, following China, the U.S., and Germany. In 2023, one-third of all U.S. BEV sales occurred in California.
California has&nbsp;a total of&nbsp;1.8 million zero-emission vehicle (ZEV) sales to date. The state recently approved a $1.9 billion plan to install up to 40,000 new public EV chargers. This announcement comes as&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has begun opening its Supercharger network to other EV brands, starting with Ford and Rivian.
Why It Matters: California&#8217;s EV market has&nbsp;seen significant growth, with&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37247746/tesla-dominates-california-new-vehicle-sales-in-2023-heres-how-the-ev-carmaker-compares-to-gm-ford-t" rel="noreferrer noopener">Tesla</a>&nbsp;dominating new vehicle sales in 2023. The state&#8217;s commitment to EVs was further underlined by a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/08/33882593/california-adds-2-000-ev-credit-for-residents-heres-how-much-you-can-save-now" rel="noreferrer noopener">$2,000 EV credit</a>&nbsp;for residents, making EVs more affordable.
However, traditional automakers like&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36838123/toyota-dominates-california-with-combustion-engine-models-but-it-faces-a-growing-ev-onslaught" rel="noreferrer noopener">Toyota</a>&nbsp;continue to sell&nbsp;large numbers of&nbsp;combustion engine vehicles in the state. The recent milestone in EV infrastructure signals a shift in this trend, with California pushing for a greener future.
Read Next: <a href="https://www.benzinga.com/news/24/04/38453221/another-blow-to-tesla-hertzs-ev-disposal-plan-jumps-by-10k-as-car-rental-company-aims-for-95-gas-pow?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Another Blow To Tesla? Hertz&#8217;s EV Disposal Plan Jumps By 10K </a>
Photo via Shutterstock
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California Leads The Charge: Golden State Now Has 1 EV Charger For Every 5 Gas Stations

In a recent CNN poll, former President&nbsp;<a target="_blank" 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" rel="noreferrer noopener">Donald Trump</a>&nbsp;is found to be leading President&nbsp;Joe Biden&nbsp;in the prospective 2024 presidential race, with public opinions about their presidencies varying significantly.
What Happened: The poll, carried out by SSRS and reported by&nbsp;<a target="_blank" href="https://edition.cnn.com/2024/04/28/politics/cnn-poll-trump-biden-matchup/index.html" rel="noreferrer noopener">CNN</a>, reveals that Trump&#8217;s support among registered voters remains steady at 49% in a direct contest against Biden, who is at 43%. This result does not differ significantly from CNN&#8217;s previous national poll on the race conducted in January.
Interestingly, 55% of Americans now view Trump's presidency as a success, while 44% perceive it as a failure. On the other hand, 61% of Americans believe Biden's presidency has been a failure so far, while 39% consider it a success.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-binary-options" rel="noreferrer noopener">The Best Performing Stock Binary Options for 2024</a>
Public opinion of former presidents usually improves over time, but no other modern president has sought a return to power after an electoral defeat. Biden&#8217;s performance in office has been viewed negatively for much of his presidency.
When independent candidates&nbsp;Robert F. Kennedy Jr.&nbsp;and&nbsp;Cornel West, along with Green Party candidate&nbsp;Jill Stein, are factored into the matchup, Trump secures 42% to Biden's 33%, with Kennedy at 16%, West at 4%, and Stein at 3%.
The SSRS conducted the poll from April 18-23 among a random national sample of 1,212 adults, including 967 registered voters.
Why It Matters: Predicting the potential outcome of a Biden vs. Trump contest in the 2024 election has been a complex task.&nbsp;
Historical trends suggest that Biden&#8217;s chances might be slim. His 13th quarter in office saw&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38477150/biden-vs-trump-contest-could-be-lost-cause-for-one-candidate-if-history-were-anything-to-go-by-accor" rel="noreferrer noopener">an average job approval</a>&nbsp;rating of 38.7%, the lowest among the nine past presidents elected to their first terms, according to Gallup.&nbsp;
The analytics firm noted that no other president elected to their first term since Dwight Eisenhower in 1956 had a lower rating than Biden. The poll was conducted from April 1-22.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38479082/elon-musk-gives-one-word-response-to-joe-bidens-dig-at-donald-trump-at-white-house-correspondents-di" rel="noreferrer noopener">Elon Musk Gives One-Word Response To Joe Biden&#8217;s Dig At Donald Trump At White House Correspondents&#8217; Dinner</a>
Image via Shutterstock
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Trump Vs Biden: New Poll Reveals Shift In 2024 Race As Public Divided On Presidents' Legacies

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 Play Store has introduced a feature that allows users to download and install two Android apps simultaneously. 
What Happened: After several years of intermittent testing, Google has now widely implemented the feature of&nbsp;simultaneous app downloads and installs&nbsp;on the Play Store. 
Users can now observe this feature in action by installing two apps, preferably larger downloads such as&nbsp;Google Docs, Sheets, and Slides, <a href="https://9to5google.com/2024/04/28/google-play-simultaneous-downloads/">reported</a>&nbsp;9to5Google on Sunday. 
Instead of waiting for one app to complete its download and installation, both apps will now download and install concurrently. This updated behavior is currently limited to new installs and only&nbsp;works with two apps at&nbsp;a time.
See Also:&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>
As of now, this feature does&nbsp;not apply to application updates,&nbsp;which would be more useful&nbsp;considering that&nbsp;updating is more common than&nbsp;fresh installs. However, it is hoped that this is just the beginning, and Google Play will expand this feature to include updates as well.
This change is currently visible&nbsp;on several Pixel phones and&nbsp;tablets&nbsp;running Android 14 and version&nbsp;40.6.31 of the Play Store, the report noted. 
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: This update comes after a significant legal setback for <a href="https://www.benzinga.com/news/23/12/36189690/google-shutting-down-play-movies-tv-here-is-what-users-can-expect">Google&#8217;s Android app store</a>. In December last year, a&nbsp;<a href="https://www.benzinga.com/news/23/12/36189035/federal-jury-rules-against-googles-android-app-store-in-epic-games-lawsuit">federal jury ruled</a>&nbsp;that Google&#8217;s Android app store had unfairly taken advantage of antitrust barriers, causing harm to both consumers and software developers. 
The lawsuit was filed by Epic Games, the creators of the popular video game Fortnite. The jury&#8217;s unanimous decision focused on Google&#8217;s Play store, which is used by hundreds of millions worldwide to download apps for Android smartphones. 
Before the trial, Epic Games alleged that Google used &#8220;bribe and block&#8221; strategies to stifle competition within the Google Play store. Gary Bornstein, representing Epic, said that Google&#8217;s actions led to increased prices, compromised quality and fewer consumer options, all the while bolstering Google&#8217;s profits.
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/analyst-ratings/analyst-color/24/04/38459459/put-it-in-the-louvre-tech-bull-praises-google-parent-alphabets-major-breakout-quart?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Put It In The Louvre:&#8217; Tech Bull Praises Google Parent Alphabet&#8217;s &#8216;Major Breakout Quarter,&#8217; Says It Is &#8216;Now In The Party&#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.
Image via Shutterstock

Wait No More: Google Play Store Launches Parallel App Downloads

While fears of a Chinese EV invasion grip the United States, a surprising trend has emerged: China&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37886073/warren-buffett-backed-byd-forays-into-yet-another-european-country-with-best-selling-atto-3-seal-ev" rel="noreferrer noopener">top electric vehicle maker</a>,&nbsp;BYD Co.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), isn&#8217;t flooding Europe with bargain-basement cars.&nbsp;Instead,&nbsp;it&#8217;s charging significantly higher prices compared to&nbsp;their home market, raking in hefty profits.
BYD Looks At High Prices, High Profits:&nbsp;A Reuters investigation reveals BYD is marking up export prices by massive margins – sometimes nearly triple – for popular models like the Atto 3 and Dolphin compared to China. In Germany, for instance, the Atto starts at a whopping $42,789, compared to a much friendlier $19,283 price tag in China.
So, Why The Disparity? It all boils down to profits. BYD faces fierce competition in China&#8217;s cutthroat EV market, forcing them to keep prices low. By jacking up export prices, they capture significantly higher margins they can&#8217;t achieve domestically.
See Also: <a href="https://www.benzinga.com/money/best-chinese-stocks" target="_blank" rel="noreferrer noopener">5 Best Chinese Stocks Right Now</a>
Cost Advantages Fueling Profits:&nbsp;BYD enjoys several cost advantages over foreign competitors. They control most of their production chain, from raw materials to batteries, leading to significant cost savings. Additionally, China heavily subsidizes EV production, further lowering costs. This edge allows BYD to offer competitive prices in Europe, even after substantial markups.
Tesla&#8217;s More Modest Markup:&nbsp;Interestingly,&nbsp;Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a higher cost base than BYD, only marks up its Chinese-made Model 3 by 37% in Germany.&nbsp;This&nbsp;suggests BYD&#8217;s export markups are strategic, aiming to maximize profits rather than undercut competition.
Building Brand, Not a Price War: Experts believe BYD&#8217;s strategy goes beyond immediate profits and is aiming to shed the &#8220;cheap Chinese product&#8221; label and build a strong brand with premium offerings. Its focus on maintaining strong resale values aligns with this strategy.
The European Challenge:&nbsp;&nbsp;However, BYD&#8217;s European ambitions face potential roadblocks. While some U.S. and European automakers fear a Chinese EV price war, BYD&#8217;s current strategy suggests otherwise.&nbsp;
But&nbsp;<a target="_blank" href="https://www.benzinga.com/24/04/38223247/the-expansion-of-chinas-ev-makers-could-threaten-the-legacy-of-european-automakers" rel="noreferrer noopener">Europe&#8217;s EV market</a>&nbsp;is experiencing a slowdown compared to China and the US, with sales dropping 9% in March 2024 compared to the previous year.&nbsp;This&nbsp;could limit BYD&#8217;s immediate sales potential.
Furthermore, trade tensions simmer between Europe and China.&nbsp;Currently, Chinese EVs face a 10% tariff in Europe, while European carmakers are subject to a 15% tariff when exporting to China. This disparity has&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37744641/mercedes-benz-ceo-calls-for-lower-eu-tariffs-on-chinese-evs-amid-commission-probe-let-competition-pl" rel="noreferrer noopener">some European automakers</a>&nbsp;calling for a &#8220;level playing field.&#8221; The European Commission, meanwhile, is even&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/01/36612885/chinese-ev-makers-byd-geely-under-eu-scrutiny-report" rel="noreferrer noopener">investigating potential punitive tariffs</a>&nbsp;on Chinese EVs, citing concerns about unfair state subsidies.
China&#8217;s EV Expansion Continues: Despite these challenges, Chinese EV makers continue their aggressive expansion. XPeng and BYD are just the tip of the spearhead entering Europe, and other automakers might follow suit. This raises a crucial question for established European carmakers: can they adapt and compete with the surging Chinese EV industry, or will they need to <a href="https://www.benzinga.com/markets/asia/23/07/33411425/european-automakers-forge-power-packed-partnerships-in-china-to-conquer-booming-ev-market">partner with Chinese companies</a> to access technology and navigate the changing electric car landscape?
The Takeaway: For now, BYD prioritizes maximizing profits and building brand image in Europe, leaving aggressive price competition for another day. Their focus? Maximum profit, not market domination – at least for now. However, the European market&#8217;s slowdown and potential trade disputes could complicate their long-term strategy. The race for dominance in the global EV market is far from over, and BYD&#8217;s next moves will be closely watched.
Read Next: <a href="https://www.benzinga.com/news/24/04/38480035/unlocking-teslas-hidden-treasures-7-lesser-known-features-that-could-revolutionize-your-driving-expe" target="_blank" rel="noreferrer noopener">Unlocking Tesla&#8217;s Hidden Treasures: 7 Lesser-Known Features That Could Revolutionize Your Driving Experience</a>
Photo via Shutterstock
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BYDDF

BYDDY

Why Tesla Rival BYD Charges Up To 3x More For EVs In Europe While China Prices Remain Shockingly Low

Infinity Lithium Corp