Scott Tech (OTC:SCTTF) Stock, Quote.Headers.trade-ideas

Scott Technology Ltd is a robotics and automation company. It designs and manufactures automated production, robotics, and process machinery. The firm provides products and solutions to the industries such as meat processing; industrial automation and robotics; appliances; mining; and others. Its business segments are New Zealand manufacturing, Australia manufacturing; Americas manufacturing; Europe manufacturing; and China manufacturing. Maximum revenue is generated from the Americas manufacturing segment. The group operates in New Zealand, North America, Australia, South America, Asia, Russia and former states, Africa and the Middle East, and Other Europe.

SCOTT TECH LTD by SCOTT TECHNOLOGY LIMITED

Scott Technology Ltd

Telsey Advisory Group analyst Joseph Feldman maintains Dollar Gen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) with a Market Perform and lowers the price target from $103 to $90.

News

Price Target

Analyst Ratings

Telsey Advisory Group Maintains Market Perform on Dollar Gen, Lowers Price Target to $90

Barclays analyst Dan Levy upgrades Dana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAN#NYSE">DAN</a>) from Equal-Weight to Overweight and raises the price target from $12 to $18.

Upgrades

Barclays Upgrades Dana to Overweight, Raises Price Target to $18

Morgan Stanley analyst Meta Marshall upgrades Zebra Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZBRA#NASDAQ">ZBRA</a>) from Underweight to Equal-Weight and raises the price target from $305 to $400.

ZBRA

Morgan Stanley Upgrades Zebra Technologies to Equal-Weight, Raises Price Target to $400

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has started rolling out version 13 of its full self-driving (FSD) driver assistance software to customers in North America after a significant delay.
What Happened: The new version includes several upgrades to the previous version and is expected to enable autonomous parking in a garage in the future, Tesla executive Ashok Elluswamy said. 
<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">We are working on parking options, including garages.
&mdash; Ashok Elluswamy (@aelluswamy) <a href="https://twitter.com/aelluswamy/status/1863098623577452588?ref_src=twsrc%5Etfw">December 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Tesla CEO Elon Musk has previously said that version 13 of the technology will enable drivers to drive five to 10 times more miles autonomously than the previous version of the software before they will have to intervene.
<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">Cool. V13 will be another 5 to 10 times better in miles between interventions.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1857456710312435933?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The EV company had said in September that it would launch version 13 of FSD in October. However, Tesla is known for delaying its timelines. 
Why It Matters: Tesla&#8217;s FSD, despite the name, is yet to enable fully autonomous driving. However, Musk is optimistic. He has previously said that Tesla will solve autonomy even if he got &#8220;kidnapped by aliens.&#8221;
Musk also said during Tesla's third-quarter earnings call that the company expects to start a ride-hail service in Texas and California starting next year,&nbsp;<a href="https://www.benzinga.com/news/24/10/41484511/palo-alto-may-open-streets-to-tesla-robotaxis-but-california-regulators-will-decide-fate" target="_blank" rel="noreferrer noopener">subject to regulatory approval</a>, with self-driving Model 3 and Model Y vehicles.
However, the vehicles might not all operate as driverless robotaxis initially but with a driver as some states demand it until the company touches certain milestones in terms of miles and hours driven, the company then said.
However, Musk also expressed confidence about the&nbsp;<a href="https://www.benzinga.com/top-stories/24/10/41279865/elon-musk-may-unveil-teslas-robotaxi-but-consumers-respond-with-ehhh-new-study-reveals-skepticism-ne" target="_blank" rel="noreferrer noopener">company operating driverless paid rides sometime next year</a>.
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 Next:
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<li><a href="https://www.benzinga.com/24/12/42259569/chinese-ev-behemoth-and-tesla-rival-byd-marks-68-growth-in-november-sales-on-rising-popularity-of-plug-in-hybrid-evs">Tesla Rival BYD Marks 68% Growth In November Sales Driven By Popularity Of Plug-In Hybrid EVs</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

TSLA

Tesla Launches FSD V13 But Vehicle Autonomy Is Still Further Away

MultiMetaVerse Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMV#NASDAQ">MMV</a>) ("MMV" or the "Company"), a leading animation and entertainment company for young consumers in China, today announced that it has signed a definitive share exchange agreement (the "Share Exchange Agreement") with the shareholders (the "Transferors") of Bowong AI Limited ("Bowong Cayman"), which, after a series of restructuring transactions, is expected to indirectly hold 100% equity interests in Bowong Technology (Shenzhen) Co., Ltd. ("Bowong Technology"). Bowong Technology is a company equipped with cutting-edge technologies that is vertically integrated in the AI e-commerce sector. It focuses on delivering comprehensive AI technologies and services for sellers on both emerging social e-commerce platforms and traditional e-commerce platforms.
The Share Exchange Agreement supersedes a non-binding term sheet between the Company and Bowong Technology, which was announced on October 2, 2024. Pursuant to the Share Exchange Agreement, each of the Transferors agrees to sell and transfer to the Company all of the shares of Bowong Cayman he beneficially owns, and in exchange and as consideration therefor, the Company agrees to issue and allot an aggregate of&nbsp;37,000,000 Class A ordinary shares to such Transferors. Upon completion of the foregoing, Bowong Cayman will become a wholly-owned subsidiary of the Company, and Bowong Technology and all the subsidiaries and affiliates controlled by it will become consolidated subsidiaries and affiliates of the Company.

Eaton Vance Massachusetts Municipal Income Trust

MultiMetaVerse Holdings To Acquire Bowong Cayman Which Involves Issuance of 37M Shares, Eyes AI E-Commerce Revolution

The latest rankings of the most popular free apps on Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone in the U.S. reveal a strong inclination toward games, social media platforms, and productivity tools.
What Happened: As of Nov. 28, 2024, here are the U.S. App Store&#8217;s 10 most popular free iPhone apps:
Block Blast: Developed by Artemis Limited, Block Blast is a puzzle game that combines block and jigsaw elements. The game offers offline play, simple controls, and smooth visuals, making it a quick and relaxing way to pass the time.
Threads: Created by Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Instagram, Threads is a social network that was launched as a rival to Elon Musk's X. While reporting Meta's third-quarter revenue, Mark Zuckerberg said that Threads now has about <a href="https://www.benzinga.com/general/social-media/24/10/41657772/musk-thinks-threads-is-boring-but-275-million-monthly-users-signal-zuckerbergs-platform-coul">275 million monthly active users</a>.
ChatGPT: Created by AI startup OpenAI, ChatGPT helps users with tasks like writing, brainstorming, and learning. Previously it was reported that OpenAI could <a href="https://www.benzinga.com/news/24/09/41078513/openai-plans-to-more-than-double-chatgpt-price-over-next-5-years-report">increase the price</a> of the ChatGPT Plus subscription which is currently available at $20/per month. The chatbot has surged to 250 million weekly active users since its <a href="https://www.benzinga.com/news/23/02/30908169/chatgpts-100-millionth-user-means-the-age-of-ai-is-here">launch two years ago</a>.
See Also: <a href="https://www.benzinga.com/24/11/42156013/bluesky-adds-millions-of-users-as-elon-musks-social-media-platform-faces-exodus-post-trump-win-here-are-a-few-starter-packs-to-help-you-get-going-on-latest-x-rival">Bluesky Adds Millions Of Users As Elon Musk&#8217;s X Faces Exodus Post Trump Victory: Here Are A Few Starter Packs To Help You Level Up On The Platform</a>
Bluesky: Another Twitter competitor, Bluesky is a decentralized social networking app designed to give users control over their content and data. Since Donald Trump emerged as the winner of the 2024 U.S. Presidential election, the platform has been witnessing a <a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising">massive surge of new users</a>, including a large number of Taylor Swift's fans.
Pokémon TCG Pocket: It is the latest mobile entry of Nintendo Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) Pokémon Trading Card Game. As a free-to-play title, it lets players collect digital cards, construct decks, and compete in battles against AI or other players online. In November it was reported that TCG Pocket earned more than $12 million within just <a href="https://www.benzinga.com/general/gaming/24/11/41725114/pok-mon-tcg-pocket-earns-12-million-in-four-days-fueled-by-u-s-downloads">four days of its launch</a>.
Capital One Shopping: Created by Wikibuy, LLC, Capital One Shopping is a free browser extension and app that helps users save money when shopping online. It automatically finds coupons, compares prices from over 30,000 retailers, and offers rewards in the form of credits that can be redeemed for gift cards.
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.
Walmart: The Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) app is a one-stop shopping tool for users to browse products, make purchases, and find deals. Users can also choose between home delivery or in-store pickup.
Google Gemini: <a href="https://www.benzinga.com/news/23/12/36127273/google-launches-gemini-ai-signals-new-era-in-artificial-intelligence">Developed</a> by Alphabet Inc.'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, Gemini integrates multimodal processing with reasoning capabilities and integration into Google&#8217;s ecosystem. Like ChatGPT, it serves a variety of purposes from personal assistance to professional coding support.
Perfect Tidy: Created by ABI Game Studio, this game challenges players to clean up cluttered spaces within a limited time frame. It also combines puzzle-solving with elements of home organization, offering a relaxing and engaging experience.
TikTok: ByteDance-owned TikTok continues to remain one of the most popular entertainment apps, known for its short, viral videos. The app is currently facing legal and regulatory hurdles in the U.S., with the Joe Biden government asking ByteDance to sell its U.S. assets by Jan. 19, 2025, or face a nationwide ban.
However, President-elect Trump has stated <a href="https://www.benzinga.com/general/social-media/24/11/41911493/snap-stock-stumbles-as-trump-plans-to-push-back-against-tiktok-ban-what-you-need-to-know">that he will prevent TikTok</a>, which is used by 170 million Americans, from being banned.
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:
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<li><a href="https://www.benzinga.com/news/24/09/41061167/ios-18-includes-apples-new-passwords-app-with-end-to-end-encryption-heres-how-you-use-it" target="_blank" rel="noreferrer noopener">iOS 18 Includes Apple&#8217;s New Passwords App with End-to-End Encryption: Here&#8217;s How You Use It</a></li>
</ul>
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 courtesy: Unsplash

Gaming

Social Media

AAPL

GOOG

GOOGL

NTDOY

Hottest Free iPhone Apps In America Right Now: Block Blast, Threads, And ChatGPT Lead The Pack

Macro Economic Events

Econ #s

Economics

Eurozone Unemployment Rate For October Unchanged At 6.3%

S&P Global/CIPS U.K. Manufacturing Purchasing Managers Index For November 48.0 Vs. 48.6 Est.; 49.9 Prior

Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) Chief Policy Officer Faryar Shirzad expects swift passage of cryptocurrency legislation under President-elect Donald Trump&#8216;s administration, as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices surge to record levels amid expectations of a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">dramatic shift in U.S. crypto policy</a>.
What Happened: Trump&#8217;s victory, coupled with Republican control of Congress, has energized the cryptocurrency industry, pushing Bitcoin above the $99,000 mark. 
Trump&#8217;s pro-crypto stance marks a significant departure from the current regulatory environment, with plans ranging from establishing a national Bitcoin reserve to expanding the Commodity Futures Trading Commission&#8217;s oversight of digital assets.
&#8220;We have the most pro-crypto Congress ever in history, we have an extraordinarily pro-crypto president coming into office,&#8221; Shirzad <a href="https://www.cnbc.com/2024/12/02/coinbase-policy-chief-us-can-adopt-crypto-regulation-quickly-now.html">told</a> CNBC, highlighting the potential for rapid legislative action in 2025. &#8220;I think the combination should finally allow the 50 million Americans who own crypto to have their interests and voice heard in policy.&#8221;
The cryptocurrency industry flexed considerable political muscle during the election, with crypto-related political action committees raising over $245 million. Nearly 300 pro-crypto lawmakers will take seats in the next Congress, according to the Coinbase-backed Stand With Crypto Alliance.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42258584/bitcoin-dogecoin-move-up-ethereum-steadies-as-traders-prepare-for-cryptos-final-2024-flourish-will-btc-hit-100k-in-december-analyst-explains">Bitcoin, Dogecoin Move Up, Ethereum Steadies As Traders Prepare For Crypto&#8217;s Final 2024 Flourish</a>
Two key pieces of legislation await consideration: the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act. Both bills aim to establish clear regulatory <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41807557/bitcoin-as-americas-gold-trumps-bitcoin-act-could-reshape-us-reserves-says-coinshares">frameworks for digital assets and stablecoins</a>.
Why It Matters: The incoming administration is reportedly planning to shift significant regulatory authority from the Securities and Exchange Commission to the CFTC, particularly for Bitcoin and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot markets. This move would affect oversight of <a href="https://www.benzinga.com/government/regulations/24/11/42206456/trump-administration-to-reportedly-let-cftc-regulate-bitcoin-ethereum-spot-market-is-the-sec-set-to-lose-its-grip-over-crypto">a $2.24 trillion market segment</a>.
Current SEC Chair Gary Gensler, known for his aggressive enforcement approach toward crypto companies, <a href="https://www.benzinga.com/government/regulations/24/11/42120607/gary-gensler-to-step-down-as-sec-chair-on-trumps-inauguration-day">will step down</a> on Jan 20. MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Executive Chairman Michael Saylor compared Trump&#8217;s proposed national Bitcoin reserve to <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42220158/donald-trump-to-establish-a-national-bitcoin-reserve-pros-vs-cons-compared">the Louisiana Purchase</a>, calling it &#8220;manifest destiny for the United States.&#8221;
However, some financial experts urge caution. Moody&#8217;s Analytics Chief Economist Mark Zandi warned about potential risks to taxpayers, citing crypto market volatility. The government currently holds approximately $20 billion in seized cryptocurrencies, which could form the foundation of the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42220158/donald-trump-to-establish-a-national-bitcoin-reserve-pros-vs-cons-compared">proposed national reserve</a>.
Price Action: Bitcoin was trading at $95,160 at the time of writing, down by 1.93% over the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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

Cryptocurrency

Government

Regulations

Markets

$BTC

$ETH

COIN

MSTR

As Bitcoin Surges, Coinbase Exec Expects Swift Legislation Thanks To Trump And The 'Most Pro-Crypto Congress Ever'

Goldman Sachs analyst Will Nance downgrades Toast (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) from Buy to Neutral and raises the price target from $34 to $45.

Downgrades

TOST

Goldman Sachs Downgrades Toast to Neutral, Raises Price Target to $45

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) will release earnings results for the third quarter, after the <a href="https://www.benzinga.com/quote/CRM/earnings">closing bell on Tuesday, Dec. 3</a>.
Analysts expect Salesforce to report quarterly earnings at $2.45 per share. That's up from $2.11 per share a year ago. The San Francisco, California-based company projects to report quarterly revenue of $9.35 billion, compared to $8.72 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Nov. 20, Salesforce unveiled a groundbreaking tool for managing artificial intelligence (AI) agent lifecycle processes. The system, dubbed Agentforce Testing Center, introduces a new paradigm for businesses adopting autonomous agent technology..
Salesforce shares slipped by 0.01% to close at $329.99 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/CRM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Piper Sandler analyst Brent Bracelin maintained Salesforce with an Overweight rating and raised the price target from $325 to $395 on Dec. 2. This analyst has an accuracy rate of 76%.</li>
<li>Citigroup analyst Tyler Radke maintained the stock with a Neutral rating and increased the price target from $290 to $368 on Nov. 27. This analyst has an accuracy rate of 73%.</li>
<li>Truist Securities analyst Terry Tillman maintained a Buy rating and raised the price target from $315 to $380 on Nov. 25. This analyst has an accuracy rate of 70%.</li>
<li>Wedbush analyst Daniel Ives maintained Salesforce with an Outperform rating and boosted the price target from $325 to $375 on Nov. 25. This analyst has an accuracy rate of 80%.</li>
<li>UBS analyst Karl Keirstead maintained a Neutral rating and boosted the price target from $275 to $360 on Nov. 22. This analyst has an accuracy rate of 77%.</li>
</ul>
Considering buying CRM stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="558" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02043918/image-2-1024x558.png" alt="" class="wp-image-672009" style="width:576px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02043918/image-2-1024x558.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02043918/image-2-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02043918/image-2-768x419.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02043918/image-2.png 1225w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li> <a href="https://www.benzinga.com/24/11/42255663/top-3-defensive-stocks-youll-regret-missing-in-november">Top 3 Defensive Stocks You&#8217;ll Regret Missing In November</a></li>
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Earnings

Trading Ideas

Salesforce Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Ascendiant Capital analyst Edward Woo maintains NRX Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRXP#NASDAQ">NRXP</a>) with a Buy and raises the price target from $44 to $45.

NRXP

Ascendiant Capital Maintains Buy on NRX Pharmaceuticals, Raises Price Target to $45

China&#8217;s BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) biggest electric vehicle rival, has quietly become a major force in Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) manufacturing ecosystem, now assembling more than 30% of iPads while planning an ambitious artificial intelligence venture with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
What Happened: The Shenzhen-based company, which <a href="https://www.benzinga.com/news/24/10/41647639/teslas-chinese-rival-byd-outshines-elon-musks-ev-giant-in-quarterly-revenue-for-first-time-since-202">surpassed Tesla in quarterly revenue</a> for the first time with $28 billion versus Tesla&#8217;s $25 billion in the third quarter of 2024, has dedicated approximately 100,000 employees to Apple&#8217;s supply chain, <a href="https://www.wsj.com/tech/building-apple-products-has-become-a-side-hustle-for-chinas-biggest-ev-maker-f26e251c?ref=biztoc.com">reported</a> The Wall Street Journal.
This partnership, which began around 2009, has evolved from basic component processing to crucial assembly operations.
Apple CEO Tim Cook acknowledged the significance of Chinese manufacturers during his November Beijing visit, his third this year, stating, &#8220;We could not do what we do without them.&#8221; The relationship has deepened despite U.S. efforts to reduce dependency on Chinese manufacturing.
Beyond iPad assembly, BYD has secured critical roles in iPhone production, including manufacturing titanium frames for the latest Pro models. 
The company&#8217;s precision manufacturing capabilities extend to both automotive and consumer electronics, with BYD Chairman Wang Chuanfu leveraging this dual expertise to forge partnerships with other tech giants like Xiaomi and Huawei.
See Also: <a href="https://www.benzinga.com/media/24/12/42259023/apple-partnership-ai-agents-and-major-infrastructure-investments-openai-executives-outline-strategy-to-attract-1b-users-by-2025">Apple Partnership, AI Agents, And Major Infrastructure Investments: OpenAI Executives Outline Strategy To Attract 1B Users By 2025</a>
Why It Matters: The company&#8217;s automotive division continues to show strong growth, with November 2024 sales reaching 506,804 new energy vehicles, <a href="https://www.benzinga.com/24/12/42259569/chinese-ev-behemoth-and-tesla-rival-byd-marks-68-growth-in-november-sales-on-rising-popularity-of-plug-in-hybrid-evs">a 68% year-over-year increase</a>. This success in both sectors has positioned BYD for its next venture: developing AI-powered manufacturing robots in collaboration with Nvidia.
Previously undisclosed details reveal that BYD and Apple&#8217;s <a href="https://www.benzinga.com/news/24/10/41372383/apple-had-a-hush-hush-relationship-with-teslas-chinese-rival-byd-for-now-abandoned-car-plans-cuperti">relationship included a secretive partnership</a> starting in 2017 to develop long-range electric vehicle batteries, though Apple has since abandoned its automotive ambitions. The collaboration influenced BYD&#8217;s current Blade battery system, now used across its entire vehicle lineup.
Warren Buffett&#8216;s Berkshire Hathaway, an early BYD investor since 2008, has witnessed the company&#8217;s transformation from a battery manufacturer to a <a href="https://www.benzinga.com/news/24/10/41372383/apple-had-a-hush-hush-relationship-with-teslas-chinese-rival-byd-for-now-abandoned-car-plans-cuperti">global technology powerhouse</a> straddling both the automotive and consumer electronics sectors.
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<li><a href="https://www.benzinga.com/news/management/24/12/42258470/jeep-marker-stellantis-ceo-carlos-tavares-resigns-amid-falling-us-sales-and-trade-pressures-board-cites-different-views">Jeep Marker Stellantis&#8217; CEO Carlos Tavares Resigns Amid Falling US Sales And Trade Pressures: Board Cites &#8216;Different Views&#8217;</a></li>
</ul>
Image Via Shuttesrtock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Global

BYDDF

BYDDY

NVDA

BYD Surpassed Tesla In Quarterly Revenue For The First Time In Q3. It Assembles Over 30% Of iPads For Apple, And Is Now Planning To Build AI Robots For Nvidia

Goldman Sachs analyst Marcio Farid initiates coverage on Ero Copper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERO#NYSE">ERO</a>) with a Buy rating and announces Price Target of $19.

Initiation

Goldman Sachs Initiates Coverage On Ero Copper with Buy Rating, Announces Price Target of $19

Goldman Sachs analyst Neil Mehta initiates coverage on Viper Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNOM#NASDAQ">VNOM</a>) with a Buy rating and announces Price Target of $70.

VNOM

Goldman Sachs Initiates Coverage On Viper Energy with Buy Rating, Announces Price Target of $70

Piper Sandler analyst Brent Bracelin maintains Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) with a Overweight and raises the price target from $325 to $395.

Piper Sandler Maintains Overweight on Salesforce, Raises Price Target to $395

Eurozone Manufacturing Purchasing Managers Index For November 45.2 Vs. 45.2 Est.; 46.0 Prior

Germany Manufacturing Purchasing Managers Index For November 43.0 Vs. 43.2 Est.; 43.0 Prior

France Manufacturing Purchasing Managers Index For November 43.1 Vs. 43.2 Est.; 44.5 Prior

Chinese e-commerce company Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) has invested $71.4 million or 100 billion Korean won in the South Korean apparel brand Ably Corp.
What Happened: Ably is now South Korea&#8217;s first unicorn of 2024, with the deal valuing the company at over $1 billion, as per a <a href="https://www.kedglobal.com/e-commerce/newsView/ked202412020004">report</a> by The Korean Economic Daily.
Following the investment, Ably&#8217;s valuation has soared to around 3 trillion won (approx. $2.1 billion), a significant increase from its 900 billion won valuation during its 67 billion won pre-Series C fundraising round in January 2022.
Why It Matters: This deal marks the first equity investment by China-based Alibaba in any Korean shopping app.
Ably is the first Korean startup to reach a valuation of over $1 billion this year, following Naver Corp.&#8217;s Kream Corp., which achieved a 1 trillion won valuation in December 2023 after completing a bridge round financing.
As per its 13F filings for the third quarter, Alibaba holds stakes in XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), Weibo Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WB#NASDAQ">WB</a>), Perfect Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PERF#NYSE">PERF</a>), and Best Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEST#NYSE">BEST</a>) in the U.S.
Alibaba increased its stake in XPeng by 371% in the September 2024 quarter compared to the June 2024 quarter. During the same period, it reduced its stake in Perfect by 2%, while its Weibo and Best stakes remained unchanged.
See Also: <a href="https://www.benzinga.com/24/11/42245036/alibaba-co-founder-makes-rare-appearance-at-company-campus">Alibaba Co-Founder Jack Ma Makes Rare Appearance At Company Campus</a>
Price Action: Shares of Alibaba Group Holdings&#8217; ADR closed 0.90% higher at $87.37 per share on Friday as compared to a 0.31% advance in the NYSE Composite Index.
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>, Alibaba has a consensus price target of $119.82 apiece based on the ratings of 23 analysts, but a consensus rating of &#8220;Buy.&#8221; The highest price target among all the <a href="https://www.benzinga.com/quote/BABA/analyst-ratings">analysts tracked by Benzinga</a> is $155 per share issued by Deutsche Bank on Jan. 13, 2023, whereas the lowest price target is $85 apiece issued by Bernstein on Aug. 16.
The average price target of $122 per share between Barclays, Benchmark, and Mizuho implies a 39.64% upside for Alibaba.
<figure class="wp-block-image size-large"><a href=" https://www.benzinga.com/quote/BABA/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="384" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02024049/Alibaba-ANR-1024x384.png" alt="" class="wp-image-671793" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02024049/Alibaba-ANR-1024x384.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02024049/Alibaba-ANR-300x112.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02024049/Alibaba-ANR-768x288.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/02024049/Alibaba-ANR.png 1059w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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