Puhui Wealth Investment Stock (OTC: PHCFF)

Puhui Wealth Investment Stock (OTC:PHCFF), Trade Ideas

Puhui Wealth Investment Management Co Ltd is a third-party wealth management service provider. The company is focused on the marketing of financial products, and managing funds for individuals and corporate clients. It generates its revenue from the commissions and recurring service fees generated through wealth management product-related services.

PUHUI WEALTH INV MGMT NEW by Puhui Wealth Investment Management Co., Ltd.

Puhui Wealth Investment Management Co Ltd

Earnings

News

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

American 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 driver assistance features in China. 
What Happened: The partnership will be for mapping and navigation around China, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-04-29/tesla-clears-key-china-fsd-hurdle-with-baidu-mapping-deal">reported</a>, citing people familiar with the matter. Based on this data, Tesla will then be able to deploy its full self-driving (FSD) driver assistance software in the East Asian country. 
The report comes on the heels of Tesla CEO Elon Musk&#8216;s <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">unannounced trip to China</a> over the weekend. Musk is looking to deploy Tesla&#8217;s FSD software, touted to be capable of enabling autonomous driving in the future, in the country. 
Tesla partnered with Baidu previously in 2020 for in-car mapping and navigation in China. 
This is a breaking news story that will be updated with more details.
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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Asia

Government

Regulations

Markets

Tech

Media

BIDU

TSLA

BREAKING: Tesla Reportedly Teams Up With Baidu To Roll Out FSD In China

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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 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</a> 
 
 
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
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Analyst Color

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Guidance

$BTC

NDTAF

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.
Photo via Shutterstock

Social Media

AAPL

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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 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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Global

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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Politics

'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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</figure>
<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>
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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.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">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>
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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>
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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.
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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>
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Eurozone

BYDDF

BYDDY

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

Gold has been on a remarkable rise in 2024, reaching record highs. The surge is attributed to a combination of factors, including the de-dollarization trend, central bank buying, and increased demand from the East.
What Happened: The price of gold has been soaring, despite the macro environment, which was expected to create challenges for the precious metal. Billionaire investor David Einhorn suggested a &#8220;secular trend&#8221; of Eastern countries buying gold from the West as a possible explanation for the surge, <a href="https://markets.businessinsider.com/news/commodities/gold-price-record-high-china-reserves-dedollarization-consumers-commodities-einhorn-2024-4">reported</a> Business Insider.
&#8220;Perhaps the West is running out of gold it is willing to sell, while Eastern demand has remained strong enough to force the price higher,&#8221; he said. 
China, the second-largest economy globally, has been particularly active in this trend, increasing its gold reserves by 16% over the past 17 months. Other countries, such as India and Singapore, have also been stockpiling gold to hedge against global economic turbulence. This increased demand has driven up the price of gold.
Ed Yardeni, an esteemed market expert, foresees the possibility of gold reaching $3,500 within the upcoming year, indicating a potential 50% increase. He compares today&#8217;s inflation patterns to those of the 1970s Great Inflation era, implying that similar conditions could drive gold to unprecedented levels.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38440908/investors-shuffle-stock-positions-in-aurora-cannabis-beyond-earnings-liquidity-look?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Shuffle Stock Positions In Aurora Cannabis: Beyond Earnings, Liquidity Looks Appealing</a>
Why It Matters: The surge in gold prices is not an isolated event. Earlier in April, Einhorn, the founder of Greenlight Capital, revealed that he was loading up on gold as a hedge <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38099167/greenlights-david-einhorn-is-loading-up-on-gold-as-a-hedge-against-something-not-so-good">against potential inflation</a>. This move aligns with his recent theory on the surge in gold prices.
Meanwhile, economist Peter Schiff has warned against piling into risk assets like tech stocks and Bitcoin amid <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358074/peter-schiff-warns-against-piling-risk-assets-like-tech-stocks-and-bitcoin-amid-inf">inflation concerns</a>, advocating for gold as a safer investment. 
Similarly, billionaire investor Ray Dalio has been sticking with gold as a <a href="https://www.benzinga.com/news/24/04/38350894/billionaire-investor-ray-dalio-is-sticking-with-gold-as-a-hedge-against-inflation-history-and-logic">hedge against inflation</a>, citing historical and logical reasons for his stance.
Price Action: Gold prices experienced a slight decline, closing at $2,328.94, down 0.39% from the previous session&#8217;s close of $2,337.97. Over the past 52 weeks, gold has fluctuated between a low of $1,810.75 and a high of $2,431.02, with the current price settling near the middle of this range at $2,328.94, according to the data&nbsp;<a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38468834/intel-still-a-work-in-progress-as-turnaround-efforts-take-root-analysts-say-after-q?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Intel ‘Still A Work In Progress' As ‘Turnaround Efforts Take Root,&#8217; Analysts Say After Q1 Disappointment</a>
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Commodities

Gold Soars Against The Odds: Eastern Buying Spree Or 1970s Redux? Billionaire Investor David Einhorn Thinks There's A 'Secular Trend'

Tesla and SpaceX CEO Elon Musk has <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">once again taken</a> to his social media platform X, formerly Twitter, targeting a company owned by former Facebook co-founder Dustin Moskovitz.
What Happened: On Sunday, Musk responded to a post criticizing Moskovitz&#8217;s company, Asana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>), for its work management model. The post by a user, who goes by the name &#8220;Whole Mars Catalog (Supervised)&#8221; on the platform, suggested that Asana&#8217;s services are nothing but a &#8220;to-do list.&#8221; 
&#8220;The most hilarious part of Dustin Moskovitz attacking the Tesla AI team is that after leaving Facebook he started a to-do list app,&#8221; the user said, adding, &#8220;Really? You&#8217;re going to shit on the people changing the world when you were handed billions and decided the world needed another to-do list?&#8221;
See Also:&nbsp;<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">Despite Microsoft, Google&#8217;s &#8216;Spectacular Quarters,&#8217; Billionaire &#8216;Bond King&#8217; Bill Gross Warns Against Tech, Advocates For Value Stocks</a>
Musk commented on the post, saying, &#8220;I never knew what Asana did until today. Why would anyone pay money for functionality that comes for free on your phone?&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I never knew what asana did until today. Why would anyone pay money for functionality that comes for free on your phone?
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1784567452481032650?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
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Asana is a software firm, which offers a <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/09/34783523/over-18m-bet-on-asana-check-out-these-3-stocks-insiders-are-buying">work management platform</a> designed to facilitate the orchestration of tasks across teams, spanning from daily activities to cross-functional strategic endeavors.
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Why It Matters: Last week, Moskovitz, who is the CEO and co-founder of Asana,&nbsp;accused Tesla of <a href="https://www.benzinga.com/news/24/04/38474626/tesla-is-now-enron-folks-facebook-co-founder-claims-musks-ev-giant-is-cooking-up-some-fsd-data">consumer fraud&nbsp;on a massive scale</a>. He likened Tesla&#8217;s actions to those of Enron, a corporation that went bankrupt in 2001 due to a massive accounting fraud.
&#8220;I know I sound crazy to most people who don't follow $TSLA closely but at this&nbsp;point&nbsp;it&nbsp;really&nbsp;needs to be said. This is Enron now, folks,&#8221; he said in a post on Threads. 
Musk&nbsp;responded to <a href="https://www.benzinga.com/news/24/04/38476524/facebook-co-founder-brings-back-old-memories-as-he-alleges-elon-musks-tesla-will-be-the-next-enron-h">these allegations</a>&nbsp;by taking a swipe at Moskovitz, and saying, he &#8220;should go to jail for impersonating a smart person.&#8221; This public exchange between the two tech giants has sparked a lot of interest in the industry.
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/24/04/38477795/elon-musks-prediction-for-domestic-robots-mark-zuckerbergs-massive-1b-bet-on-nvidia-gpus-and-more-th?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Prediction For Domestic Robots, Mark Zuckerberg&#8217;s Massive $1B Bet On Nvidia GPUs And More: This Week In AI</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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ASAN

Musk Vs. Moskovitz Rages On As Tesla CEO Trolls Facebook Co-Founder's Company: 'Why Would Anyone Pay Money For Functionality That Comes For Free On Your Phone?'