Latest News for Northern Data Stock (OTC:NDTAF)

Northern Data AG is a Business-to-Business technology company developing, using, and selling solutions on vertically integrated computing infrastructure. The company's segment includes Mining; Hardware and Others. It generates maximum revenue from the Hardware and Other segment.

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Bitcoin (CRYPTO: BTC) mining companies liquidated more BTC than they produced in June, giving up on the &#34;hodl-at-any-cost&#34; strategy they subscribed to in the January-April period.

These Public Bitcoin Miners Give Up On &#39;Hodl-At-Any-Cost&#39; Strategy,&#39; Sell Heavily At &#39;Fire-Sale&#39; Prices In June

Tech

Media

Riot Blockchain Stock Is Trading Higher On Acquiring Whinstone For $651M In Cash And Stock Deal

Northern Data AG

Barclays analyst Julian Mitchell maintains Carrier Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) with a Overweight and raises the price target from $78 to $79.

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Analyst Ratings

CARR

Barclays Maintains Overweight on Carrier Global, Raises Price Target to $79

Fomento Economico (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMX#NYSE">FMX</a>) reported quarterly earnings of $1.40 per share which beat the analyst consensus estimate of $1.00 by 40 percent. This is a 40 percent increase over earnings of $1.00 per share from the same period last year. The company reported quarterly sales of $10.50 billion which missed the analyst consensus estimate of $10.71 billion by 1.98 percent. This is a 8.88 percent increase over sales of $9.64 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Fomento Economico Mexicano S.A.B. De C.V.

Fomento Economico Q1 EPS $1.40 Beats $1.00 Estimate, Sales $10.50B Miss $10.71B Estimate

Keefe, Bruyette &amp; Woods analyst Christopher Mcgratty maintains First Interstate BancSys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIBK#NASDAQ">FIBK</a>) with a Market Perform and raises the price target from $28 to $29.

FIBK

Keefe, Bruyette & Woods Maintains Market Perform on First Interstate BancSys, Raises Price Target to $29

<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38113928/exclusive-the-top-crypto-vc-funding-trends-in-2024">Digital asset investment manager</a> Pantera Capital is reportedly preparing to launch a new investment fund, aiming to raise over $1 billion. 
What Happened: This new fund, known as Pantera Fund V, is scheduled for launch in April 2025 and seeks to provide investors with exposure to a diverse range of blockchain-based assets.
Unlike its previous funds, which include the Liquid Token Fund, Early Stage Token Fund, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) Fund, and various Venture Funds, each with a distinct investment focus, Fund V is designed to be an all-encompassing vehicle. 
<a href="https://www.bloomberg.com/news/articles/2024-04-25/pantera-capital-seeks-to-raise-1-billion-for-a-new-crypto-fund">According</a> to Bloomberg, the fund will include startup equity, early-stage tokens, and liquid tokens, reflecting a broad spectrum strategy in the blockchain space.
The fund is targeting a substantial initial commitment from investors, requiring a minimum allocation of $1 million from qualified investors and $25 million from limited partners. 
This strategy suggests Pantera is not only capitalizing on the growing interest in digital assets but also banking on substantial institutional involvement.
This development is particularly notable given that a $1 billion fund would represent the largest raise in the cryptocurrency industry since May 2022, when <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38439393/a16z-crypto-cto-slams-memecoins-but-are-they-the-real-threat">venture capital powerhouse Andreessen Horowitz</a> secured a record $4.5 billion for its own efforts. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38437196/this-famous-buy-bitcoin-sign-netted-an-intern-1m">This Famous &#8216;Buy Bitcoin&#8217; Sign Netted An Intern $1M</a>
Why It Matters: The planned fund from Pantera comes at a time when other firms, such as VC firm Paradigm, are also seeking significant capital infusions, with reports of up to $850 million being targeted for a new cryptocurrency fund.
The momentum in the sector is underscored by recent investments and funding trends. For instance, venture capital firm Andreessen Horowitz recently raised $7.2 billion for technology-focused sectors, although its cryptocurrency-focused fund did not see an increase. 
Meanwhile, Pantera has continued to invest heavily in specific platforms, such as the GameFi platform InfiniGods, where it led an $8 million Series A funding round.
According to RootData, the cryptocurrency industry has attracted over $3.5 billion across 604 funding rounds in 2024 alone, with projections suggesting this year's total could surpass the $9.3 billion raised in 2023. 
These figures indicate a strong recovery and renewed interest in the sector, although they still fall short of the peak funding years of 2021 and 2022.
What&#8217;s Next: The launch of Pantera Fund V and the resurgence of funding in digital assets will likely be hot topics at the upcoming Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19. 
Industry experts and investors will be keen to discuss the implications of these developments and the potential for sustained growth and innovation in blockchain technologies. 
This event will serve as a critical platform for stakeholders to explore how enhanced capital inflows are shaping the future landscape of the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38298590/pompliano-bitcoin-on-track-for-100-000-within-two-years-downside-risk-limited">cryptocurrency and blockchain industries.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38431860/maxine-waters-says-stablecoin-bill-in-the-short-run-coming">Maxine Waters Says &#8216;Stablecoin Bill In The Short Run&#8217; Coming</a>
Image: Shutterstock

Pantera Capital Aims To Launch $1B Blockchain Fund Amid Sector Recovery

Trading Ideas

BDRX

Biodexa Pharmaceuticals Shares Halted On Circuit Breaker To The Downside, Stock Now Up 104.2%

Newell Brands Shares Halted On Circuit Breaker To The Downside, Stock Now Up 8.50%

Barclays analyst Carter Gould maintains Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) with a Equal-Weight and lowers the price target from $51 to $43.

Barclays Maintains Equal-Weight on Bristol-Myers Squibb, Lowers Price Target to $43

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) with a Market Perform and lowers the price target from $14 to $13.

FFIC

Keefe, Bruyette & Woods Maintains Market Perform on Flushing Financial, Lowers Price Target to $13

Perma-Pipe Inlt Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPIH#NASDAQ">PPIH</a>) reported quarterly earnings of $1.08 per share. This is a 176.92 percent increase over earnings of $0.39 per share from the same period last year. The company reported $40.18 million in sales this quarter. This is a 10.26 percent increase over sales of $36.44 million the same period last year.

PPIH

Perma-Pipe Inlt Hldgs Q4 EPS $1.08 Up From $0.39 YoY, Sales $40.18M Up From $36.44M YoY

Keefe, Bruyette &amp; Woods analyst Christopher Mcgratty reiterates First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) with a Outperform and raises the price target from $1900 to $2100.

Reiteration

FCNCA

Keefe, Bruyette & Woods Reiterates Outperform on First Citizens BancShares, Raises Price Target to $2100

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

Regulations

General

AAPL

GOOGL

MSFT

SNAP

TikTok Would Rather Shutdown Than Opt For Sale

Barclays analyst Brandt Montour maintains Boyd Gaming (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) with a Equal-Weight and lowers the price target from $70 to $68.

Barclays Maintains Equal-Weight on Boyd Gaming, Lowers Price Target to $68

<ul>
<li>Conversion of promissory notes into common stock removed $94.9 million in pro forma balance sheet liabilities.</li>
<li>The converted common stock is included in the company's total 165 million outstanding shares.</li>
<li>The Tevogen.ai initiative aims to harness the immense potential of AI to enhance drug discovery, development, manufacturing, distribution, and patient access.</li>
</ul>
WARREN, N.J., April 26, 2024 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=fTHflf9-IJKUdNJ4AjpanzC8znYeswoPQvPRH_ULZw-0OB4WY5IWIv4xwH_yShPkVJLtUW-zuIxC1Zn0cu3ofs5MYxb26AAicZ1RDFUP4lM=">Tevogen Bio Holdings Inc.</a> ("Tevogen" or "Tevogen Bio") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVGN#NASDAQ">TVGN</a>) is a clinical-stage specialty immunotherapy biotech pioneer developing off-the-shelf, genetically unmodified T cell therapeutics in virology, oncology, and neurology.
Dear Fellow Stockholders:
In anticipation of the filing of our annual financial statements, I would like to provide our investors with a few reflections on anticipated financial results.
First, we expect to report that as of December 31, 2023, and for year-end 2023, the liabilities and net losses of Tevogen Bio Inc were primarily related to convertible promissory notes. Those notes were assumed and converted into shares of Tevogen Bio Holdings Inc in connection with the business combination between Tevogen Bio Inc and Semper Paratus Acquisition Corporation that closed on February 14, 2024. We expect to report that the net losses of Tevogen Bio Inc consisted primarily of non-cash charges related to the change in the fair value of the convertible promissory notes, not the operating expenses of Tevogen Bio Inc, and that Tevogen Bio Inc's operating expenses for 2023 were $8.8 million. Due to the conversion of the convertible promissory notes, we will report that on a pro forma basis, there are no longer any liabilities associated with convertible promissory notes, and that the non-cash charge related to the change in the fair value of the notes has been eliminated from the pro forma condensed combined statement of operations. We anticipate disclosing that of the $94.9 million of balance sheet liabilities that were removed by the conversion of the notes, $80.7 million were current liabilities and $14.2 million were long-term liabilities.
Second, I'd like to reflect on our recent leadership appointments and the newly launched initiative in Artificial Intelligence (AI). The <a href="https://www.globenewswire.com/Tracker?data=fTHflf9-IJKUdNJ4Ajpan2il_cdbgQ8ailAiHo4pYlpLppAIM-UdZJyjkCjg_Tl562NUU_V-_yl6btoXMvuTEg==">Tevogen.ai</a> initiative aims to harness the <a href="https://www.globenewswire.com/Tracker?data=D1TGpWUJbudR5KWf8Jp1BbqNsWXH3S5GXGhP8lcaeSkV2V64KVJSJJM4GKC89RT5LA3ZUnQwcvZyd5TkN7KNY8MxtldTwtqSSJqQKMPEU-1_nvow4Wi-0vXTMRRWsxoM9pc6i2RNHWn2DWoS_QjVEGaKNDDYjgr2P0ezA4_hcyQxKURHQqKHJpaC5y_C6A94lcdu46XKAcUkBmPsddzn3DcbERps5UsWBiF7LiltnUY6EJkvRtIghK0lfqY_-TUWoooL0h4gFpVoYZM9e7LNL2naCBt9tTeOxI4kQ4MGvG_nc7ofnCkAM8C0e-64CBQzoYpzXkZMnL0EwvVz6yFf7w==">immense potential of AI</a> to enhance drug discovery, development, manufacturing, distribution, and patient access. Mittul Mehta, our Chief Information Officer (CIO) and Head of Tevogen.ai, brings over 20 years of experience in information technology and nearly a decade in senior management roles. Previously, Mr. Mehta served as Senior Vice President, Global Head of Platforms Security, Mobility &amp; Cloud Security at Jefferies LLC, where he played a key role in enterprise strategy. His extensive experience across various organizations, including Avanade Inc., Macy's Inc., MetLife Inc., and Microsoft Corporation, demonstrates his ability to align technology with business objectives and lead teams effectively through complex projects and shifting priorities. Looking ahead, Mr. Mehta will share his vision for AI in biotechnology and healthcare through featured speeches including at the Longwood Healthcare Leaders Spring MIT conference and Hogan Lovells Annual Health Care AI Law and Policy Summit. &nbsp;&nbsp; Tevogen also appointed <a href="https://www.globenewswire.com/Tracker?data=_AC-gczzH-13XpklM9HgnApADRwt9iQlHKz5Z1k9BxwUZ37YxlXvUnksVOYZmSxyZFPCwq3rc8w8PF9_2DchUWz-RtSI1j-ah4tVlzB0KlX_azzsvlPkdGJ9N_k3EzsiZ0z_oF21xfmvkKIptv3L9FoSRc8bVYmO4W8PQqhUfGXXGfWsPbY12LF9OwoctOiCyeEBhxYVtEwAYYMReyJ44Irawfa5vv4CDZVhRuSxhDg=">Tapan V. Shah</a> as Head of Investor Relations and Corporate Development. Mr. Shah, a Wall Street veteran with over 25 years of experience across key financial services industry verticals, brings broad leadership capabilities to Tevogen Bio. Most recently, Mr. Shah was Director, Relationship Management, in Citigroup's Client organization, where he was also a member of the Executive Office. Prior to Citigroup, he worked in Morgan Stanley's asset management business (MSIM) focused on Equity Strategy and Product Development. Mr. Shah started his career in the Investment Banking Division of Goldman Sachs. In this new position, Mr. Shah will lead communications with all financial stakeholders, including shareholders, research analysts, and investment bankers. He will also lead the M&amp;A and capital raising functions at Tevogen Bio.
We believe our allogeneic, precision T cell technology platform, <a href="https://www.globenewswire.com/Tracker?data=wSDFlE_At_LEWO7XUe7H1oFkM8Hoqeoe_VWcaz10dbRaBRkA1yGhlv3GwN2mss_2DmToO0vx9UIxm96MlaIKJ2lWcJchKm4txTZJE9JbrNM=">ExacTcell&#x2122;</a>, represents a significant scientific breakthrough that has the potential to develop a new class of off the shelf T cell therapeutics with diverse applications spanning virology, oncology, and neurology.
As I prepare to attend the Yale CEO Summit with fellow business leaders from all sectors of our economy, I thank you all for your continued support for our shared mission for a healthier world.
Sincerely,
Ryan Saadi
CEO, Tevogen Bio Holdings Inc.

TVGN

Tevogen Bio CEO Highlights Expected Reporting Of A $94.9M Liability Elimination; Tevogen.ai Initiative Aims To Harness The Immense Potential Of AI To Enhance Drug Discovery, Development, Manufacturing, Distribution, And Patient Access

Keefe, Bruyette &amp; Woods analyst Kelly Motta maintains CVB Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVBF#NASDAQ">CVBF</a>) with a Market Perform and lowers the price target from $20 to $19.

CVBF

Keefe, Bruyette & Woods Maintains Market Perform on CVB Financial, Lowers Price Target to $19

KB Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KB#NYSE">KB</a>) reported quarterly earnings of $1.94 per share which missed the analyst consensus estimate of $2.78 by 30.22 percent. This is a 203.12 percent increase over earnings of $0.64 per share from the same period last year. The company reported $2.37 billion in sales this quarter. This is a 6.73 percent decrease over sales of $2.54 billion the same period last year.

KB Financial Group Q4 Adj. EPS $1.94, Sales $2.37B

Barclays analyst Matt Miksic maintains Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) with a Overweight and raises the price target from $70 to $78.

Barclays Maintains Overweight on Boston Scientific, Raises Price Target to $78

Keefe, Bruyette &amp; Woods analyst Timothy Switzer reiterates ConnectOne Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNOB#NASDAQ">CNOB</a>) with a Outperform and lowers the price target from $27 to $24.

CNOB

Keefe, Bruyette & Woods Reiterates Outperform on ConnectOne Bancorp, Lowers Price Target to $24

Top Stories for April 25, 2024:
1. Reliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) <a href="https://www.benzinga.com/wiim/24/04/38432505/reliance-steel-aluminum-shares-are-trading-lower-after-the-company-reported-worse-than-expected-q1-f">reported Q1 results</a> with net sales of $3.64 billion and a 10.3% increase in tons sold. 
The company recorded a gross profit margin of 31% and earnings per share (EPS) of $5.23, with a non-GAAP EPS of $5.30.&nbsp;
Reliance also completed the acquisitions of Cooksey Iron &amp; Metal, American Alloy Steel and Mid-West Materials in early 2024. 
Despite macroeconomic uncertainties, the company projects continued demand growth in its key markets for Q2 2024, expecting a 2.5% to 4.5% increase in tons sold and a slight decrease in average selling price per ton.&nbsp;
Reliance increased its dividend by 10%, marking 65 consecutive years of payouts.
2. Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) reported strong Q1 2024 results, producing 2.2 million gold equivalent ounces and generating over $1.4 billion in operational cash. 
The company declared a 25 cents per share dividend and remains on track to meet its annual production and cost guidance.&nbsp;
Newmont also reported $776 million in operational cash flow, net income of $179 million and adjusted EBITDA of $1.7 billion.&nbsp;
Newmont sold its non-core Lundin Gold financing facilities for $330 million and delivered $105 million in synergies from the Newcrest acquisition, aiming for $500 million annually.&nbsp;
The company also advanced its ESG reporting with its latest sustainability updates.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/markets/asia/24/04/38412172/will-indonesias-new-president-continue-nickel-policy-which-undercuts-competitors">Will Indonesia&#8217;s New President Continue Nickel Policy, Which Undercuts Competitors?</a>
3. BHP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), the world&#8217;s largest mining company, proposed an acquisition of Anglo American valued at £27 billion ($39 billion). 
The offer involves a stock exchange and depends on Anglo divesting its South African platinum and iron ore businesses.&nbsp;
This merger could mark BHP&#8217;s return to major deals under CEO Mike Henry, potentially creating the world&#8217;s top copper producer.&nbsp;
However, regulatory challenges may arise, as copper is considered a strategic resource. Anglo American is reviewing the proposal without guaranteeing acceptance.
4. Kaiser Aluminum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAU#NASDAQ">KLAU</a>) reported Q1 results, including net sales of $738 million, conversion revenue of $367 million, net income of $25 million ($1.51 per diluted share), adjusted net income of $17 million ($1.02 per diluted share) and adjusted EBITDA of $62 million with a 17% margin. 
The company noted improved cost controls and efficiencies, and maintained its full-year 2024 outlook.&nbsp;
CEO Keith A. Harvey highlighted strong performance in general engineering and automotive sectors, with aerospace slightly below expectations, reinforcing ongoing strategic investments for growth in 2025.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/m-a/24/04/38404166/energy-fuels-secures-critical-mineral-supply-chain-via-240m-base-resources-deal">Energy Fuels Secures Critical Mineral Supply Chain Via $240M Base Resources Deal</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Image generated using artificial intelligence via Midjourney.

Commodities

KLAU

Reliance, Newmont Report Q1 Financial Results; BHP Proposes Acquisition Of Anglo American And More: Thursday's Top Mining Stories

Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is deepening its involvement with China while expanding its production in Southeast Asia and India, illustrating the iPhone maker&#8217;s delicate balancing act between political pressures and business needs.
In&nbsp;2023,&nbsp;Apple increased its number of China-based suppliers and manufacturing sites, reducing its reliance on suppliers from Taiwan, the U.S., Japan, and South Korea, according to a Nikkei Asia&nbsp;<a target="_blank" href="https://asia.nikkei.com/Business/Business-Spotlight/Apple-moves-closer-to-China-despite-supply-chain-shifts#:~:text=TAIPEI%20%2D%2D%20Apple%20is%20deepening,striking%20between%20politics%20and%20business." rel="noreferrer noopener">review</a>&nbsp;of Apple&#8217;s latest official supplier list.
Apple publishes an official list of its suppliers nearly every year. The most recent list includes 187 companies, accounting for 98% of the company&#8217;s procurement for fiscal 2023.
Since 2020, Chinese suppliers have become the largest group within Apple&#8217;s supplier network, growing to 52 in the last year from 48 in 2022. The number of manufacturing or development facilities in China, including those owned by domestic and foreign companies, increased by 10 to 286.
As Apple accelerates its supply chain shift to Southeast Asia amid the ongoing U.S.-China tech conflict, its ties with China continue to deepen.
The number of Apple suppliers in Vietnam surged by 40% to 35 last year, while the number in Thailand increased by about a third to 24. The number of suppliers in India remained stable at 14.
However, this growing presence in India and Southeast Asia does not necessarily mean a reduced dependence on China.
Prior reports conjectured that Apple reduced its dependence on China due to growing geopolitical tensions between the U.S. and China&nbsp;after which&nbsp;Washington imposed a semiconductor technology embargo on China which included import of sophisticated AI chips from&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other chip designers.
Nikkei Asia&#8217;s analysis indicates that approximately 37% of the 35 suppliers in&nbsp;Vietnam&nbsp;are from China and Hong Kong, including AirPods assemblers Luxshare and Goertek and iPad assembler BYD.&nbsp;
All three have increased their production capacity in the country to serve Apple.
Taiwanese suppliers remain the second-largest group in the Apple supply chain, followed by U.S., Japanese, and South Korean suppliers.
A significant portion of its supply chain is in China, and revenue from Greater China — the world&#8217;s largest consumer electronics market — still accounted for 17% of its total revenue in the December quarter.
According to IDC data,&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/03/37479073/apples-iphone-sales-dip-24-in-china-falls-to-fourth-place-behind-vivo-and-huawei" rel="noreferrer noopener">Apple&#8217;s shipments in</a>&nbsp;the first quarter of this year dropped nearly 10% globally, a steeper year-over-year decline than peers like Samsung and Xiaomi experienced.
Prior reports indicated that Apple&nbsp;is offering&nbsp;the iPhone 15 series at steep discounts in China through resellers, implying softening demand.
Morgan Stanley&nbsp;analyst Erik Woodring&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38362506/apples-next-big-leap-how-ai-software-and-wwdc-announcements-could-fuel-growth" rel="noreferrer noopener">anticipates a slight revenue</a>&nbsp;increase for the March quarter.&nbsp;
Still, he expects a significant downward revision for the June quarter guidance compared to consensus, which may initially disappoint the market.&nbsp;
Despite this, he sees potential for a relief rally at Apple, especially with the upcoming Worldwide Developer Conference (WWDC) expected to showcase new AI software features.&nbsp;
Woodring notes the possibility of a nearly 30% upside to his new price target and a pivotal AI-driven iPhone cycle in fiscal 2025, focusing&nbsp;on total revenue, China iPhone shipments, and Services revenue growth&nbsp;in his analysis.
Apple stock gained 4% in the last 12 months.&nbsp;Investors can gain exposure&nbsp;to&nbsp;the stock via&nbsp;Vanguard Information Tech ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>) and&nbsp;SPDR Select Sector Fund&nbsp;&#8211;&nbsp;Technology&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>).
Price Action:&nbsp;AAPL shares traded higher by 0.39% at $170.55 premarket at the last check Friday.
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At the recent Benzinga Cannabis Capital Conference, co-founder and CEO of Wana Brands, Nancy Whiteman, detailed the upcoming leadership transition within her company, scheduled by the end of May 2024. Wana Brands, a trailblazer in the North American <a href="https://www.benzinga.com/topic/cannabis-edibles">cannabis edibles market</a>, began in Whiteman&#8217;s Boulder, Colorado kitchen and has risen to prominence over fourteen years.
<h3 class="wp-block-heading">Leadership Transition And Future Direction</h3>
In a discussion about the company&#8217;s future, Whiteman expressed confidence in Wana Brands&#8217; next stage, which she described as brimming with new markets, products, and opportunities. &#8220;We have a fantastic leadership team that&#8217;s going to be able to execute beyond my tenure as CEO,&#8221; Whiteman explained.
Joe Hodas, currently the Chief Marketing Officer of Wana Brands and with twelve years of experience in the cannabis industry, will assume the CEO role. Whiteman highlighted Hodas&#8217;s key role in guiding the company&#8217;s direction and maintaining its competitive edge through innovative product development.
<h3 class="wp-block-heading">Innovative Product Strategy</h3>
Addressing the company&#8217;s success, Whiteman emphasized their unique approach to product development in a crowded market. &#8220;Gummies are ubiquitous; everybody&#8217;s got a gummy,&#8221; she said. However, Wana Brands differentiates itself by focusing on tailored effects and results for consumers, contributing to brand loyalty and a premium market position.
&#8220;Our highly formulated products have led to every sort of gummy innovation, whether it was class-specific, adding CBD or quick onset, minor cannabinoids, or making products for things like sleep and anxiety,&#8221; she added. Whiteman states this strategy distinguishes Wana from competitors and supports sustained pricing power.
<h3 class="wp-block-heading">New Horizons In Cannabis Edibles</h3>
Whiteman also projected the increasing role of cannabis edibles in social and relaxation habits, particularly among younger consumers. She noted a surge in the cannabis and hemp-derived beverage category, underscoring the adaptability of edibles as a favorable delivery mechanism. This aligns with modern consumption trends, where simplicity and effectiveness are paramount.
<h3 class="wp-block-heading">Philanthropic Endeavors And Board Involvement</h3>
Looking beyond her operational role, Whiteman is set to enhance her philanthropic activities and continue her involvement with Wana Brands through her position on the board of managers for Canopy USA. Her dedication to social responsibility is evident in the company&#8217;s ongoing charitable initiatives, including significant donations to various organizations focusing on food security and other social issues.
Whiteman&#8217;s transition marks a momentous milestone for Wana Brands, which continues to lead the evolving cannabis market under new leadership. 
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<iframe loading="lazy" title="The Future of Cannabis Edibles w/ Nancy Whiteman from Wana Brands" width="500" height="281" src="https://www.youtube.com/embed/IKQlWt1r6AQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Image: Wana Brands Nancy Whiteman Cannabis

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