Global X Internet of Things ETF (NASDAQ: SNSR)

Latest news for Global X Internet of Things ETF (NASDAQ:SNSR) 

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Lattice appointed Esam Elashmawi, chief marketing and strategy officer, as Interim Chief Executive Officer, effective immediately.

Why Lattice Semiconductor Shares Are Diving Today

GRMN, Garmin

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Garmin stock downgraded to Underperform by B of A analyst due to concerns about growth momentum and valuation. Q1 results beat estimates.

Why Is Garmin Stock Falling Today?

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Tech

Garmin reported Q1 2024 results with 20% revenue growth, beating consensus. Fitness, Outdoor, Marine, and Auto segments all saw growth. Dividend and FY24 outlook were reiterated.

Garmin&#39;s Advanced Wearables Are In Demand, Surprises With Q1 Profit Growth

Global X Internet of Things ETF

Billionaire entrepreneur Mark Cuban thinks that efforts by the U.S. government and investors in proprietary large-language models to regulate artificial intelligence (AI) will end up giving the lead in this <a href="https://www.benzinga.com/news/24/06/39245450/mark-cuban-warns-us-ai-regulations-could-give-china-the-edge-after-openais-sora-faces-new-threat-fro" target="_blank" rel="noreferrer noopener">critical field to Chinese companies</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39246035/linkedin-vp-aneesh-raman-stresses-importance-of-soft-skills-in-ai-era-engaging-with-ai-is-not-a-digi" rel="noreferrer noopener">LinkedIn VP Aneesh Raman Stresses Importance Of Soft Skills In AI Era: &#8216;&#8230;Engaging With AI Is Not A Digital Skill Set. It&#8217;s A Communication Skill Set&#8217;</a>
A series of data breaches at a $20 billion internet company co-owned by Japan&#8217;s SoftBank Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) and South Korea&#8217;s Naver (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NHNCF#OTC">NHNCF</a>) is causing diplomatic <a href="https://www.benzinga.com/news/24/06/39266985/data-leak-in-masayoshi-sons-softbank-backed-internet-company-causes-strain-in-japan-south-korea-rela" target="_blank" rel="noreferrer noopener">tensions between the two nations</a>.
Read: <a href="https://www.benzinga.com/general/gaming/24/06/39300006/fromsoftwares-miyazaki-admits-room-for-improvement-if-players-rely-on-guides-in-elden-ring" target="_blank" rel="noreferrer noopener">FromSoftware&#8217;s Miyazaki Admits &#8216;Room For Improvement&#8217; If Players Rely On Guides In Elden Ring</a>
The launch of a new gossip app,&nbsp;Fizz, at a Vermont high school has reportedly led to widespread bullying and controversy, reigniting concerns about the&nbsp;<a href="https://www.benzinga.com/news/24/06/39251360/new-gossip-app-fizz-leads-to-widespread-high-school-bullying-raises-concerns-over-teen-anxiety-repor" target="_blank" rel="noreferrer noopener">impact of social media&nbsp;on teen mental health</a>.
Vrio Corporation, the parent company of DIRECTV Latin America and Sky Brasil, has partnered with&nbsp;Amazon.com, Inc&#8217;s. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Project Kuiper to offer satellite broadband in <a href="https://www.benzinga.com/markets/latin-america/24/06/39306491/amazons-project-kuiper-partners-with-vrio-corporation-to-deliver-satellite-broadband-in-7-s" target="_blank" rel="noreferrer noopener">seven South American countries</a>.
Gaming
Microsoft Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) revealed during Xbox Games Showcase and the Call of Duty Direct event that &#8220;Call of Duty: Black Ops 6&#8221; will require a constant internet connection for all game modes on consoles, <a href="https://www.benzinga.com/general/gaming/24/06/39257159/call-of-duty-black-ops-6-requires-constant-internet-connection-on-consoles-for-first-time" target="_blank" rel="noreferrer noopener">marking a first for the series</a>.
Related: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/06/39277761/activision-confirms-call-of-duty-black-ops-6-wont-require-massive-300-gb-download" rel="noreferrer noopener">Activision Confirms Call Of Duty: Black Ops 6 Won&#8217;t Require Massive 300 GB Download</a>
Electronic Arts Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) EA Sports&nbsp;unveiled&nbsp;San Francisco 49ers running back&nbsp;Christian McCaffrey&nbsp;as <a target="_blank" href="https://www.benzinga.com/general/gaming/24/06/39280444/unveiling-madden-nfl-25-christian-mccaffreys-cover-debut-game-updates" rel="noreferrer noopener">the cover athlete for&nbsp;Madden NFL 25</a>.
Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/06/39277698/resident-evil-village-hits-10m-sales-fastest-selling-game-in-series-history" rel="noreferrer noopener">Resident Evil Village Hits 10M Sales: Fastest-Selling Game In Series History</a>
Smartphones
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) announced the first major update to visionOS at the WWDC 2024, bringing some important usability improvements to Apple Vision Pro users. Among these changes are memories, immersive <a href="https://www.benzinga.com/news/24/06/39256085/apples-vision-pro-to-debut-outside-us-markets-for-the-first-time-these-are-countries-on-tim-cooks-li" target="_blank" rel="noreferrer noopener">experiences and productivity improvements</a>.
Apple announced its new artificial intelligence&nbsp;initiative,&nbsp;Apple <a target="_blank" href="https://www.benzinga.com/news/24/06/39262940/apple-intelligence-to-be-limited-to-iphone-ipad-and-macs-and-wont-make-its-way-to-watch-tv-and-visio" rel="noreferrer noopener">Intelligence</a><a target="_blank" href="https://www.benzinga.com/news/24/06/39262940/apple-intelligence-to-be-limited-to-iphone-ipad-and-macs-and-wont-make-its-way-to-watch-tv-and-visio" rel="noreferrer noopener">, at the WWDC 2024</a>. Also, the company highlighted new features for iPads and iPhones and a deeper push to&nbsp;integrate <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39274000/7-apple-analysts-mixed-on-wwdc-2024-iphone-upgrade-cycle-coming-but-when" rel="noreferrer noopener">artificial intelligence on products</a>.
Related: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39285683/apple-analyst-says-you-dont-wanna-be-anywhere-near-the-stock-in-4-years-feels-wwdc-" rel="noreferrer noopener">Apple Analyst Says &#8216;You Don&#8217;t Wanna Be Anywhere Near The Stock&#8217; In 4 Years, Feels WWDC Was Like A &#8216;Snap CEO Talking Like We&#8217;re Gonna Target 22-Year Olds&#8217;</a>
Apple kicked off the iOS 18 update with some important quality-of-life improvements, including customization, smarter email organization, a <a href="https://www.benzinga.com/news/24/06/39256556/apple-unveils-ios-18-with-satellite-messaging-home-screen-customization-privacy-improvements-and-mor" target="_blank" rel="noreferrer noopener">better messaging experience and more</a>.
Apple revealed that it is partnering with Microsoft-backed OpenAI to integrate ChatGPT into iOS 18, <a href="https://www.benzinga.com/news/24/06/39258186/apple-integrates-new-chatgpt-features-in-iphone-mac-and-ipad-sam-altman-thinks-you-will-really-like" target="_blank" rel="noreferrer noopener">iPadOS 18 and macOS 15 Sequoia</a>.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/06/39284760/tesla-ex-ai-chief-andrej-karpathy-really-liked-wwdc-2024-announcements-but-grok-investor-pierre-ferr" rel="noreferrer noopener">Tesla Ex-AI Chief Andrej Karpathy &#8216;Really Liked&#8217; WWDC 2024 Announcements But Grok-Investor Pierre Ferragu Skeptical On Execution: &#8216;Can Apple Make It Work?&#8217;</a>
Apple&#8217;s Tim Cook&nbsp;has expressed uncertainty about the company&#8217;s ability to completely&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/06/39285737/tim-cook-admits-he-has-doubts-about-apples-ability-to-prevent-ai-hallucinations-i-would-never-claim" rel="noreferrer noopener">prevent AI hallucinations</a>.
CEO&nbsp;Tim Cook&nbsp;said that the company&#8217;s objective is not to increase device usage but to enable users to achieve things they couldn&#8217;t without their devices, after&nbsp;unveiling <a target="_blank" href="https://www.benzinga.com/news/24/06/39305868/tim-cook-aims-to-help-apple-users-accomplish-more-without-extending-screen-time-we-want-to-empower-y" rel="noreferrer noopener">Apple Intelligence&nbsp;earlier this week</a>.
Apple has revealed its plans to integrate&nbsp;Alphabet Inc.&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)&nbsp;Google Gemini&nbsp;AI model into its&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/06/39271592/apple-may-introduce-google-gemini-ai-model-for-iphone-mac-and-ipad-says-craig-federighi" rel="noreferrer noopener">Apple Intelligence feature set</a>.
Apple has rejected the submission of UTM, a generic PC system emulator, from the iOS App Store and&nbsp;third-party app stores, despite the European Union&#8217;s recent efforts to loosen its <a target="_blank" href="https://www.benzinga.com/news/24/06/39250102/apple-blocks-emulator-app-for-iphones-from-app-store-and-alternative-stores-showing-it-still-exerts" rel="noreferrer noopener">control using the Digital Markets Act, or DMA</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39244134/ming-chi-kuo-says-iphone-16-shipments-to-fall-5-yoy-ios18s-unveiling-at-apples-wwdc-2024-will-have-l" rel="noreferrer noopener">Ming-Chi Kuo Says iPhone 16 Shipments To Fall 5% YoY: iOS18&#8217;s Unveiling At Apple&#8217;s WWDC 2024 Will Have Limited Impact On Replacement Demand</a>
Tech
The Turkish Competition Board has fined Google approximately $14.85 million (482 million Turkish Lira) for non-compliance <a href="https://www.benzinga.com/news/24/06/39250744/google-hit-with-14-85m-fine-by-turkish-authority-over-local-search-compliance" target="_blank" rel="noreferrer noopener">with local competition regulations</a>.
Alphabet has been hit with a privacy complaint by Austrian advocacy group NOYB. The complaint alleges that Google tracks users of its <a target="_blank" href="https://www.benzinga.com/news/24/06/39305523/another-setback-for-google-alphabet-faces-austrian-privacy-complaint-over-chrome-tracking" rel="noreferrer noopener">Chrome browser without proper consent</a>.
The new head of search of Google, Liz Reid, has conveyed that the company will not always be able to detect errors in AI searches. This statement was made <a href="https://www.benzinga.com/news/24/06/39313168/google-search-chief-tells-employees-dont-hold-back-features-just-because-there-might-be-occasional-p" target="_blank" rel="noreferrer noopener">at a recent all-hands meeting</a>. 
Dexcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>), a&nbsp;leading glucose monitor manufacturer, has enabled&nbsp;direct&nbsp;Apple&#8217;s AAPL&nbsp;Watch connectivity for&nbsp;its&nbsp;G7 model <a href="https://www.benzinga.com/news/24/06/39244233/apple-watch-now-directly-syncs-with-dexcoms-g7-glucose-monitor" target="_blank" rel="noreferrer noopener">in the&nbsp;United States</a>.
Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)&nbsp;has reportedly combined its two North American AI research centers and appointed a former&nbsp;Apple Inc.&nbsp;AAPL&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/06/39284417/ex-apple-siri-guru-to-lead-samsungs-north-american-ai-division" rel="noreferrer noopener">executive to head the newly formed division</a>.
The chairman of Samsung Electronics, Jay Y. Lee, has been in discussions with the heads of Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Amazon.com and Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>). The discussions revolved around potential areas of cooperation, including artificial intelligence, <a href="https://www.benzinga.com/news/24/06/39310074/samsung-chairman-engages-in-strategic-talks-with-meta-amazon-and-qualcomm" target="_blank" rel="noreferrer noopener">cloud services and semiconductors</a>.
Meta Platforms has been hit with a complaint in Norway for using user images and posts from <a href="https://www.benzinga.com/news/24/06/39307741/meta-platforms-under-fire-in-norway-for-using-private-user-data-from-facebook-instagram-for-ai-train" target="_blank" rel="noreferrer noopener">Facebook and Instagram to train AI models</a>.
Elon Musk
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and&nbsp;SpaceX&nbsp;CEO&nbsp;Elon Musk&nbsp;on Sunday put an end to the&nbsp;speculation <a target="_blank" href="https://www.benzinga.com/news/24/06/39244688/elon-musk-shuts-down-smartphone-rumors-we-are-not-going-to-do-a-tesla-phone" rel="noreferrer noopener">about a potential&nbsp;Tesla smartphone</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39246781/elon-musk-thinks-humanoid-robots-will-one-day-exceed-human-population-from-nvidias-project-gr00t-to" rel="noreferrer noopener">Elon Musk Thinks Humanoid Robots Will One Day Exceed Human Population: From Nvidia&#8217;s Project GR00T To Tesla&#8217;s Optimus, Here Are Top 7 Projects Currently Underway</a>
Presumptive Republican candidate&nbsp;Donald Trump&#8217;s&nbsp;niece&nbsp;Mary Trump&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/09/34306743/trumps-niece-slams-elon-musk-for-his-anti-woke-comments-blames-him-for-destroying-twitter" rel="noreferrer noopener">has once again criticized</a>&nbsp;Tesla and&nbsp;SpaceX CEO&nbsp;Elon Musk for allegedly destroying&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/06/39303823/trumps-niece-slams-latest-improvement-to-x-elon-musk-is-even-stupider-than-i-thought" rel="noreferrer noopener">Twitter</a><a target="_blank" href="https://www.benzinga.com/news/24/06/39303823/trumps-niece-slams-latest-improvement-to-x-elon-musk-is-even-stupider-than-i-thought" rel="noreferrer noopener">, now rebranded as&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/06/39303823/trumps-niece-slams-latest-improvement-to-x-elon-musk-is-even-stupider-than-i-thought" rel="noreferrer noopener">X</a>.
Musk&#8217;s&nbsp;X, formerly&nbsp;Twitter, is set to roll out a new feature that will allow users to&nbsp;keep their likes private. This move is aimed at protecting users from <a target="_blank" href="https://www.benzinga.com/news/24/06/39284004/elon-musk-introduces-private-likes-to-protect-users-but-people-want-to-know-about-the-rampant-adult" rel="noreferrer noopener">potential backlash for their online activity</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39264633/as-elon-musk-blasts-apples-partnership-with-chatgpt-parent-openai-analysts-say-theres-definitely-an" rel="noreferrer noopener">As Elon Musk Blasts Apple&#8217;s Partnership With ChatGPT-Parent OpenAI, Analysts Say There&#8217;s Definitely &#8216;An Unanswered Question&#8217;</a>
Artificial Intelligence (AI)
Elon Musk withdrew his lawsuit against OpenAI and its co-founders, Sam Altman and Greg Brockman. His decision came a day after he went on a tirade and criticized Apple <a href="https://www.benzinga.com/news/24/06/39283661/elon-musk-drops-openai-lawsuit-involving-sam-altman-greg-brockman-a-day-after-blasting-apple-for-par" target="_blank" rel="noreferrer noopener">for partnering with the </a><a href="https://www.benzinga.com/news/24/06/39283661/elon-musk-drops-openai-lawsuit-involving-sam-altman-greg-brockman-a-day-after-blasting-apple-for-par" target="_blank" rel="noreferrer noopener">ChatGPT</a><a href="https://www.benzinga.com/news/24/06/39283661/elon-musk-drops-openai-lawsuit-involving-sam-altman-greg-brockman-a-day-after-blasting-apple-for-par" target="_blank" rel="noreferrer noopener"> parent</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39304829/ai-is-helping-cat-owners-in-tokyo-keep-their-feline-friends-healthier-app-can-reportedly-detect-pain" rel="noreferrer noopener">AI Is Helping Cat Owners In Tokyo Keep Their Feline Friends Healthier: App Can Reportedly Detect Pain With More Than 95% Accuracy</a>
Apple&#8217;s Craig Federighi&nbsp;has revealed that users will be able to opt&nbsp;out of the integration&nbsp;of&nbsp;OpenAI&#8217;s ChatGPT, a move that could alleviate <a target="_blank" href="https://www.benzinga.com/news/24/06/39287140/elon-musk-reacts-as-apple-offers-opt-out-option-for-openais-chatgpt-integration-easing-privacy-conce" rel="noreferrer noopener">mounting concerns about AI privacy</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39284426/google-engineer-says-sam-altman-led-openai-set-back-ai-research-progress-by-5-10-years-llms-have-suc" rel="noreferrer noopener">Google Engineer Says Sam Altman-Led OpenAI Set Back AI Research Progress By 5-10 Years: &#8216;LLMs Have Sucked The Oxygen Out Of The Room&#8217;</a>
OpenAI&#8217;s Mira Murati&nbsp;responded to&nbsp;Elon Musk&#8217;s&nbsp;criticism of the&nbsp;company&#8217;s partnership&nbsp;with&nbsp;Apple&#8217;s emphasizing OpenAI&#8217;s <a target="_blank" href="https://www.benzinga.com/news/24/06/39290929/key-openai-executive-defends-apple-partnership-against-elon-musks-creepy-spyware-accusation-we-care" rel="noreferrer noopener">commitment to user privacy</a>.
Related: <a href="https://www.benzinga.com/news/24/06/39291654/craig-federighi-explains-how-apple-intelligence-maintains-user-privacy-amid-concerns-over-chatgpt-in" target="_blank" rel="noreferrer noopener">Craig Federighi Explains How Apple Intelligence Maintains User Privacy Amid Concerns Over ChatGPT Integration</a>
Photo: Shutterstock

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TSLA

What's New In the Consumer Tech World Last Week? News That You Should Know (June 9-June 15, 2024)

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares saw a bounce last Thursday after CEO Elon Musk hinted at shareholders&#8217; overwhelming support for his 2018 compensation plan. However, the shares pulled back sharply on Friday after the <a href="https://www.benzinga.com/news/24/06/39323339/tesla-shareholders-approve-elon-musk-56b-pay-package-other-company-proposals">approval was officially confirmed.</a> A bearish analyst delved into the investment worthiness of the stock in an interview aired last week.
Hugely Dangerous: &#8220;Tesla is the biggest stock market bubble in world history and we have just seen the start of it,&#8221;<a href="https://finance.yahoo.com/video/tesla-biggest-market-bubble-world-151926652.html"> said</a> Per Lekander, Clean Energy Transition&#8217;s CEO and portfolio manager, in an interview with Yahoo Finance. He said Tesla&#8217;s models are outdated, the valuation is insane and earnings are plummeting.
The Tesla bear said he estimates earnings to fall 50% this year. The consensus estimate for 2024 has dropped from $5 at the start of the year to $2.65, he noted, adding that he estimates $1.40 per share. The analyst has a $15 price target for Tesla.
Lekander also flagged other risks, such as class action lawsuits and questions regarding the Tesla board paying itself enormous money. 
&#8220;I think this is hugely dangerous, and in the end, it&#8217;s going to prove to be the next Enron,&#8221; he added.
<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">The Enron parallel was previously used by Dustin Moskovitz, </a>co-founder of Facebook (now Meta), who expressed uneasiness over cooked-up data regarding full self-driving capabilities. The infamous Enron saga stemmed from the company inflating its financial performance and hiding billions in debt with complex financial instruments. This eventually led to one of the biggest corporate scandals in U.S. history.
See Also: Everything You Need to Know About Tesla Stock
Retail Prop: Lekander said that retail traders are holding up the stock right now. While the broader market is up about 20%-25%, Tesla has fallen about 60% this year and the downward spiral is materializing step by step, he said.
&#8220;The retail crowd needs to to give up because that is what&#8217;s holding up this stock [which] in evaluation makes absolutely no sense,&#8221; the analyst said, adding he sees the stock going down further due to downward pressure on the bottom line, given the cyclical impact of the company&#8217;s price cuts.
Lekander said the first quarter had terrible deliveries but not bad earnings. In the second quarter, the company did everything to boost car sales, including offering financing at nearly 0% interest. He also raised the specter of the company making a loss in the second quarter and potentially in the third quarter. 
&#8220;I think many fanboys will run for the hills,&#8221; he said.
Tesla ended Friday&#8217;s session down 2.44% at $178.01, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39345986/elon-musks-super-difficult-tesla-goal-fiskers-troubles-just-got-worse-faraday-future-eyes-afford">Elon Musk&#8217;s &#8216;Super Difficult&#8217; Tesla Goal, Fisker&#8217;s Troubles Just Got Worse, Faraday Future Eyes Affordable Segment And More: Biggest EV Stories Of The Week</a>
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Tesla Analyst Explains Why EV Marker Is 'Going To Prove To Be The Next Enron': 'Many Fanboys Will Run For The Hills'

Treasury Secretary Janet Yellen publicly criticized a proposal by former President Donald Trump to replace parts of the U.S. income tax with increased <a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti">tariffs on imported goods.</a>
What Happened: Trump proposed the idea during a meeting with Republican lawmakers on Capitol Hill last week. 
The former president is attempting to unify GOP leaders ahead of the July Republican National Convention, according to Reps. Thomas Massie (R-Ky.) and Marjorie Taylor Greene (R-Ga), <a href="https://www.usatoday.com/story/news/politics/elections/2024/06/16/janet-yellen-donald-trump-income-tax-tariffs/74117456007/">reported</a> USA Today.
Yellen, however, dismissed the proposal during an interview with ABC. Talking about the feasibility of the idea, Yellen said, "It would require tariffs well over 100%. The impact would be to make life unaffordable for working class Americans, and it would harm American businesses."
Trump&#8217;s proposal came as President Joe Biden&#8216;s approval rating has dropped among voters without college degrees and those earning $50,000 or less annually. During Trump&#8217;s presidency, tariffs played a crucial role in his economic strategy, with many Chinese imports facing tariffs as high as 25%.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39346542/donald-trump-had-several-discussions-about-executing-people-says-ex-trump-official-how-do-you-ration" target="_blank" rel="noreferrer noopener">Donald Trump Had Several Discussions About ‘Executing' People, Says Ex-Trump Official: ‘How Do You Rationalize That Is A Person Fit … To Be President Of The United States?'</a>
Why It Matters: Trump&#8217;s proposal to eliminate income tax and replace it with an &#8220;all tariff policy&#8221; has raised eyebrows. The former president, who reportedly paid little to no income taxes over a decade, pitched the idea during a meeting with Republican lawmakers at the Capitol Hill Club in Washington, D.C. This was Trump's first time on Capitol Hill since Jan. 6, 2021, <a href="https://www.benzinga.com/government/24/06/39337568/trumps-plan-to-kill-income-taxes-whiffs-critics-say-its-a-sure-way-to-hit-low-and-middle-income-amer">when his supporters caused an insurrection</a>.
Experts from both political sides have expressed concerns about Trump's proposal. A report from the Tax Foundation think tank suggested that new tariffs could actually harm working class Americans and negatively impact international trade.
Now Read: <a href="https://www.benzinga.com/news/24/06/39348388/donald-trump-challenges-joe-biden-to-take-cognitive-test-fumbles-own-doctors-name-in-process">Donald Trump Challenges Joe Biden To Take Cognitive Test, Fumbles Own Doctor&#8217;s Name In Process</a>
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: Shutterstock

Politics

Janet Yellen Dismisses Donald Trump's Proposal To Replace Income Tax With Tariffs: 'The Impact Would Be To Make Life Unaffordable ...'

Republican Representative Marjorie Taylor Greene made a commitment to put every effort into prosecuting Dr. Anthony Fauci, accusing him of <a href="http://www.benzinga.com/news/24/04/38237873/marjorie-taylor-greene-isnt-backing-down-on-criticism-of-house-speaker-despite-donald-trumps-efforts">committing &#8220;crimes against humanity.&#8221;</a>
What Happened: Greene made the statements at a political gathering over the weekend. She was speaking at the People Convention organized by Turning Point USA in Dallas. 
During her speech, she criticized President Joe Biden, former Speaker Nancy Pelosi and Fauci for the COVID-19 lockdown measures, <a href="https://www.thedailybeast.com/marjorie-taylor-greene-promises-to-lock-up-fauci-for-crimes-against-humanity">reported</a> The Daily Beast.
Greene insinuated that the U.S. government was involved in creating the virus in a lab in Wuhan, China. She then shifted her focus to Fauci, who was the director of the National Institute of Allergy and Infectious Diseases during the pandemic, accusing him of committing &#8220;crimes against humanity.&#8221;
Her remarks stirred the crowd into a &#8220;lock him up!&#8221; chant. Greene responded by saying, &#8220;If I have anything to do with it, we will lock him up.&#8221;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/03/38012721/marjorie-taylor-greene-claims-she-has-proof-that-votes-for-donald-trump-in-2020-were-lost-in-the-mai" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Claims She Has Proof That Votes For Donald Trump In 2020 Were &#8216;Lost In The Mail&#8217;: &#8216;I Think He&#8217;ll Be Vindicated Easily&#8217;</a>
&#8220;They attacked the very core of our freedoms, all for a virus that they made in a lab in Wuhan, China. And yes, Doctor Anthony Fauci should be tried for crimes against humanity,&#8221; the representative also said. 
"I'll never forget when the Biden administration and Nancy Pelosi, as speaker of the House, brought in nearly 30,000 National Guardsmen and turned our Capitol complex into a military base," she said. "They masked schoolchildren. They shut down schools. They closed beaches. They silenced your speech."
Why It Matters: Greene&#8217;s latest attack adds to the ongoing political discourse surrounding the handling of the Covid-19 pandemic. Her accusations reflect a growing divide in the perception of the government&#8217;s response to the pandemic.
Her remarks also underscore the contentious relationship between certain political figures and scientific authorities during the global health crisis. The implications of these accusations could potentially influence future policy decisions and public sentiment regarding the handling of similar crises.
Now Read: <a href="https://www.benzinga.com/news/24/05/39021116/marjorie-taylor-greenes-motion-to-vacate-speaker-mike-johnsons-position-has-fallen-flat">Marjorie Taylor Greene&#8217;s Motion To Vacate Speaker Mike Johnson&#8217;s Position Has Fallen Flat</a>
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: Shutterstock

Health Care

Marjorie Taylor Greene Promises To 'Lock Up' Anthony Fauci For Handling Of Pandemic: 'Should Be Tried For Crimes Against Humanity'

Hedge Funds

Insider Trades

General

Lions Gate Entertainment Corporation Class A Voting Shares

LGF/A

Lions Gate Entertainment Corporation Class B Non-Voting Shares

LGF/B

Steven Mnuchin's Liberty 77 Capital Reported A Purchase Of 698,858 Shares Of Lions Gate Entertainment @ Avg Price Of $8.10/Share In A Form 4 Filing On Friday

Keith Gill, the trading influencer popularly known as &#8220;Roaring Kitty,&#8221; has accumulated a $262 million stake in GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), leading to discussions about market manipulation in the meme-stock era.
What Happened: Gill&#8217;s substantial stake in GameStop Corp and its call options reached over $550 million on June 6. Despite his acquisition of more stock, the value of his holdings has decreased due to a slump in the company&#8217;s shares.
As the stock&#8217;s value remains relatively stable, apprehensions are mounting among Wall Street and retail traders. The 2021 GameStop rally, which challenged short-selling, has led to inquiries about what constitutes market manipulation in the current meme-stock era, <a href="https://www.bloomberg.com/news/articles/2024-06-15/roaring-kitty-s-262-million-stirs-skeptics-in-meme-stock-era?srnd=homepage-asia&amp;sref=TBDibEcD">reported </a>Bloomberg. 
See Also: <a href="https://www.benzinga.com/news/24/06/39346549/trump-vs-biden-latest-poll-results-in-key-state-of-virginia-spells-trouble-for-one-candidate-and-his?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Biden: Latest Poll Results In Key State Of Virginia Spells Trouble For One Candidate And His Pa</a>
Commenting on the development, Steve Sosnick, chief strategist at Interactive Brokers, said, "The original meme stock craze was us versus them, with ‘them' being the guys who would short-sell millennials' favorite companies like GameStop. But I'm not sure who ‘them' is anymore."
Gill, who spearheaded the 2021 short squeeze that rattled Wall Street, is now reportedly under increased scrutiny. Doubts have been raised about whether his comeback is a simple pump-and-dump scheme.
Also Read: <a href="https://www.benzinga.com/news/24/06/39322648/roaring-kitty-claws-back-gamestop-stock-pops-on-position-update-from-keith-gill-what-you-need-to-kno">Roaring Kitty Claws Back: GameStop Stock Pops On Position Update From Keith Gill — What You Need To Know</a>
As Gill&#8217;s actions pushed the price up again, GameStop seized the opportunity by selling more than $2 billion worth of stock, leading to further discussions about market manipulation and the role of influencers in shaping stock market trends.
According to Bloomberg, by Thursday,&nbsp;Gill&#8217;s brokerage account details indicated he had sold off a previous holding of 120,000 call options and increased his stake in GameStop. This brought his portfolio to approximately 9 million shares of the video game retailer, valued at over $262 million. 
By the end of 2021, Gill&#8217;s last update revealed he held 200,000 shares worth more than $30 million, a figure adjusted by a four-for-one stock split in July 2022.
Don Steinbrugge, chief executive officer of Agecroft Partners, told Bloomberg, "Some of the quantitative managers have models to look at the trends in price and those models are extremely quick to get out of the stock if they see significant downside volatility. At some point retail investors are going to wise up and realize there's a lot of danger."
Why It Matters: Gill&#8217;s return to social media and his significant stake in GameStop have reignited the meme-stock phenomenon reminiscent of the 2021 short squeeze.
Gill&#8217;s actions, including sharing various memes and videos, have helped boost GameStop shares. His recent position in the video game retailer has once again inspired confidence in the stock, <a href="https://www.benzinga.com/markets/options/24/06/39277622/roaring-kittys-options-in-the-spotlight-will-gamestop-investor-sell-or-exercise-for-more-shares">leading to a surge in meme stocks like GameStop.</a> 
This has raised questions about the influence of social media influencers on stock market trends and potential market manipulation.
Now Read:&nbsp;<a href="https://www.benzinga.com/general/education/24/05/38793704/who-is-roaring-kitty-why-does-his-return-to-social-media-matter-for-gamestop-stock" target="_blank" rel="noreferrer noopener">Who Is Roaring Kitty? Why Does His Return To Social Media Matter For GameStop Stock?</a>
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: Shutterstock

Market Manipulation Or Meme-Stock Mastery? 'Roaring Kitty' Rakes In $262 Million GameStop Stake

Former President Donald Trump, who is currently running for the presidency again, recently proposed a cognitive test for President Joe Biden. However, Trump ended up misnaming his own <a href="https://www.benzinga.com/general/politics/24/06/39127315/latest-poll-of-independents-and-republicans-could-spell-trouble-for-donald-trump-following-his-h">doctor in the process.</a>
What Happened: Trump, during a campaign event in Detroit on Saturday, questioned Biden&#8217;s mental acuity and suggested that the latter should take a cognitive test. In a twist of irony, Trump misnamed his own doctor, referring to Rep. Ronny Jackson, who served as the White House physician during part of Trump&#8217;s presidency, as &#8220;Ronny Johnson,&#8221; reported the Associated Press.
&#8220;He doesn't even know what the word ‘inflation' means. I think he should take a cognitive test like I did,&#8221; Trump, who took a cognitive test in 2018 at his own behest, said of Biden.
"Doc Ronny Johnson. Does everyone know Ronny Johnson, congressman from Texas? He was the White House doctor, and he said I was the healthiest president, he feels, in history, so I liked him very much indeed immediately," the former president further said. 
Trump&#8217;s slip of the tongue was promptly picked up by online critics and the Biden campaign, which has consistently defended the Democratic president against criticism about his verbal missteps.
Also Read: <a href="https://www.benzinga.com/news/24/06/39346542/donald-trump-had-several-discussions-about-executing-people-says-ex-trump-official-how-do-you-ration">Donald Trump Had Several Discussions About &#8216;Executing&#8217; People, Says Ex-Trump Official: &#8216;How Do You Rationalize That Is A Person Fit &#8230; To Be President Of The United States?&#8217;</a>
Why It Matters: Trump&#8217;s latest challenge comes on the heels of his previous demand for Biden to undergo a drug test ahead of their debates scheduled for June and September. Trump claimed that Biden was under the influence of drugs during <a href="https://www.benzinga.com/news/24/05/38907865/donald-trump-issues-eyebrow-raising-demand-ahead-of-proposed-debates-with-joe-biden-i-just-wanna-deb">the latter&#8217;s State of the Union address in March.</a>
Trump, who celebrated his 78th birthday on Friday, has made questioning whether the 81-year-old Biden is fit for a second term a focal point of his campaign.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti" target="_blank" rel="noreferrer noopener">Following Trump's Guilty Verdict, Legal Experts Say He Could Face This Punishment Instead Of Prison Time</a>
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: Shutterstock

Donald Trump Challenges Joe Biden To Take Cognitive Test, Fumbles Own Doctor's Name In Process

These mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Avidity Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNA#NASDAQ">RNA</a>) shares jumped 50.15% following the announcement that the Phase 1/2 trial data for muscle disorder therapy <a href="https://www.benzinga.com//node/39294405" target="_blank" rel="noreferrer noopener">yielded positive results</a>.</li>
<li>Iris Energy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) shares surged 24.31% after Cantor Fitzgerald assumed an Overweight rating on the stock and <a href="https://www.benzinga.com//node/39277415" target="_blank" rel="noreferrer noopener">announced a $23 price target</a>.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) <a href="https://www.benzinga.com//node/39317941" target="_blank" rel="noreferrer noopener">shares rose 15.29%</a>.</li>
<li>John Wiley &amp; Sons, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLY#NYSE">WLY</a>) shares rose 14.07%  after the company reported Q4 <a href="https://www.benzinga.com//node/39321000" target="_blank" rel="noreferrer noopener">adjusted EPS and sales that beat estimates</a>.</li>
<li>Element Solutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESI#NYSE">ESI</a>) shares grew 13.46%  after the company raised Q2 and FY24 guidance. Mizuho and BMO Capital also raised <a href="https://www.benzinga.com/quote/ESI/analyst-ratings" target="_blank" rel="noreferrer noopener">their price forecasts for the stock</a>.</li>
<li>CleanSpark, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) shares gained 13.31% amid strength in Bitcoin following <a href="https://www.benzinga.com//node/39289772" target="_blank" rel="noreferrer noopener">softer-than-expected May CPI figures</a>.</li>
<li>Enovix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>) stock price escalated 12.97% as shares of several industrial companies gained amid overall market strength following positive inflation data.</li>
<li>Axcelis Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACLS#NASDAQ">ACLS</a>) shares advanced 12.70% last week. Semiconductor stocks gained on softer-than-expected CPI figures, which lifted stocks on Wednesday, while AI optimism also continues to boost the sector.</li>
<li>Intellia Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTLA#NASDAQ">NTLA</a>) stock price upped 12.08%.</li>
<li>Korn Ferry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KFY#NYSE">KFY</a>) shares increased 8.13% following the company&#8217;s <a href="https://www.benzinga.com//node/39316062" target="_blank" rel="noreferrer noopener">Q4 earnings</a>. A couple of analysts raised the <a href="https://www.benzinga.com/quote/Kfy/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
</ol>
<ol></ol>
Also Read: <a href="https://www.benzinga.com/news/24/06/39348319/celsius-and-paypal-were-among-the-10-biggest-large-cap-losers-last-week-june-9-june-15-are-these-in">Celsius And PayPal Were Among The 10 Biggest Large Cap Losers Last Week (June 9-June 15): Are These In Your Portfolio?</a>
Image: 15958319 from Pixabay

ACLS

CLSK

ENVX

Hims & Hers Health, Inc. Class A Common Stock

HIMS

IREN

NTLA

Avidity Biosciences And CleanSpark Were Among The 10 Biggest Mid-Cap Stock Gainers Last Week (June 9-June 15): Are These In Your Portfolio?

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook recently participated in a blind ranking of five iconic Apple products, during an interview. The lineup included the MacBook Air, iPad, iPhone 4 and 5, Magic Mouse, and <a href="https://www.benzinga.com/news/24/06/39256085/apples-vision-pro-to-debut-outside-us-markets-for-the-first-time-these-are-countries-on-tim-cooks-li">Vision Pro.</a>
What Happened: Cook was recently<a href="https://www.benzinga.com/news/24/06/39306083/who-will-be-next-apple-ceo-tim-cook-spills-the-beans-about-his-legacy-i-dont-think-about-it-to-me-a"> interviewed by YouTuber</a> Marques Brownlee, better known as MKBHD, during the Worldwide Developers Conference 2024 (WWDC 24). The Apple CEO was asked to rank each Apple product without knowing the rest of the products.
&#8220;It is a tough one. It&#8217;s like asking your favorite kids or nephews or nieces,&#8221; Cook joked.
Although Cook didn&#8217;t rank the products, he praised them in retrospect.
<h3 class="wp-block-heading">MacBook Air</h3>
Cook recalled the first time his predecessor and Apple co-founder Steve Jobs had revealed the Macbook Air out of an envelope. 
&#8220;It wasn&#8217;t about how many people would buy it. It was about establishing the foundation,&#8221; Cook said.
<h3 class="wp-block-heading">iPad</h3>
When asked about the iPad, Cook acknowledged its success despite initial skepticism and rumors. First revealed in 2010, this year, Apple has partnered with OpenAI to integrate&nbsp;<a href="https://www.benzinga.com/news/24/06/39256948/tim-cook-announces-apple-intelligence-for-iphones-calls-it-next-big-step-tremendously-excited" target="_blank" rel="noreferrer noopener">ChatGPT into iOS 18, iPadOS 18, and macOS 15 Sequoia</a>.
&#8220;You know, tablets had been in the market for a long time. Our objective is never to be first. Our objective is to be best,&#8221; Cook said.
&#8220;People thought many things that weren&#8217;t too nice about it in the beginning, including the name, and yet I couldn&#8217;t live without my iPad today.&#8221;
<h3 class="wp-block-heading">Magic Mouse</h3>
Cook reflected on the Magic Mouse&#8217;s ergonomic significance. 
&#8220;People don&#8217;t think of that as much as they would the MacBook Air and the iPad and whatever else you&#8217;re going to name probably, but getting the ergonomics well done was key,&#8221; Cook said.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Talking Tech and AI with Tim Cook!" width="500" height="281" src="https://www.youtube.com/embed/pMX2cQdPubk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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</figure>
<h3 class="wp-block-heading">iPhone</h3>
&#8220;Oh my God. It changed the world,&#8221; Cook exclaimed, reflecting upon how it changed the way people thought about things that were on the phone. He added that the App Store released in 2008, a year after the first iPhone was released, also paved the way for new and upcoming developers.
&#8220;There were no students in the developer community at that particular point in time. Now, the developer population is very diverse from an age point of view and everything else, and it just, fundamentally, became an economic miracle for people and got well outside of just doing it for a hobby. You look at all the businesses that came out of it,&#8221; Cook added.
<h3 class="wp-block-heading">Vision Pro</h3>
Lastly, Cook expressed his personal fondness for the Vision Pro, which he uses for entertainment and multitasking. He highlighted its popularity among Fortune 100 companies and its unique ability to convert old photos into 3D.
&#8220;I find that it&#8217;s still an emotional experience to look at your photos, and with VisionOS 2, being able to take your old photos. And make them 3D, I think is a big, big thing,&#8221; Cook said.
&#8220;You know, I lost both of my parents before Vision Pro came out, and being able to go back and look at those photos differently is something that, you know, it&#8217;s an experience you can&#8217;t replicate.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/06/39306083/who-will-be-next-apple-ceo-tim-cook-spills-the-beans-about-his-legacy-i-dont-think-about-it-to-me-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Who Will Be Next Apple CEO? Tim Cook Spills The Beans About His Legacy: &#8216;I Don&#8217;t Think About It. To Me, A</a>
Why It Matters: At this year&#8217;s WWDC, Cook announced the integration of AI-powered personal intelligence features, <a href="https://www.benzinga.com/news/24/06/39256948/tim-cook-announces-apple-intelligence-for-iphones-calls-it-next-big-step-tremendously-excited">dubbed &#8220;Apple Intelligence</a>,&#8221; into the operating systems for iPhones, iPads, and Macs.
Following the WWDC 2024 keynote, Wedbush analyst Dan Ives lauded Apple&#8217;s venture into AI, <a href="https://www.benzinga.com/news/24/06/39263188/wedbush-analyst-dan-ives-says-apples-wwdc-2024-keynote-lived-up-to-its-hype-i-think-it-was-a-home-ru">calling it a game changer.</a> He stated that Apple had delivered on every item, especially in terms of OpenAI and privacy, laying out the stack for developers. This positive feedback underscores the significance of Apple&#8217;s ongoing innovations, even as Cook nostalgically ranks the company&#8217;s iconic products.
Price Action: On Friday, Apple&#8217;s stock was trading 0.34% lower at $213.52 after it closed at $214.24 on Thursday, according to <a href="https://pro.benzinga.com">Benzinga Pro.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38582049/ai-adoption-a-do-or-die-moment-for-companies-says-sandboxaq-ceo-theres-going-to-be-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Adoption A &#8216;Do Or Die&#8217; Moment For Companies, Says SandboxAQ CEO: &#8216;There&#8217;s Going To Be Winners And Losers</a>&#8216;
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 courtesy of Apple

Tim Cook Tells MKBHD Blindly Ranking Apple Products Is Like Choosing 'Your Favorite Nieces Or Nephews:' This Is What Cupertino Chief Thinks About MacBook, iPad, iPhone, Magic Mouse And Vision Pro

In the week leading up to June 12, U.S. equity funds witnessed their largest weekly outflow in 18 months. This comes as investors tread carefully in anticipation of the Federal Reserve&#8217;s policy decision.
What Happened: Data from LSEG reveals that investors pulled out a net $21.93 billion from U.S. equity funds during the week, the biggest weekly net disposal since mid-December 2022.
Despite the Federal Reserve&#8217;s decision to maintain interest rates, the S&amp;P 500 and the Nasdaq Composite continued to reach record closing highs for the third consecutive session. This was bolstered by data indicating a deceleration in inflation, reported Reuters.
See Also: <a href="https://www.benzinga.com/news/24/06/39346549/trump-vs-biden-latest-poll-results-in-key-state-of-virginia-spells-trouble-for-one-candidate-and-his?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Biden: Latest Poll Results In Key State Of Virginia Spells Trouble For One Candidate And His Pa</a>
Large-cap equity funds were the most affected, experiencing outflows of $14.94 billion, the largest weekly outflow since Dec. 21, 2022. Multi-cap, mid-cap, and small-cap funds also faced net withdrawals of $2.37 billion, $1.43 billion and $816 million, respectively.
In contrast, investors directed their attention towards U.S. bond and money market funds, pouring in $1.72 billion and $20 billion, respectively. U.S. sector-specific equity funds experienced a second straight week of inflows, accumulating approximately $1.85 billion, with the majority, $1.8 billion, being invested in the technology sector.
U.S. bond funds experienced a net inflow of $4.82 billion, continuing their positive trend for the second week in a row. General domestic taxable fixed income funds in the U.S. attracted $2.44 billion, the largest amount in five weeks. Additionally, short/intermediate investment-grade funds and loan participation funds saw inflows of $841 million and $546 million, respectively.
Why It Matters: The significant outflows from U.S. equity funds highlight investor caution ahead of the Federal Reserve&#8217;s policy decision. 
Despite the decision to keep interest rates unchanged, investors are showing a preference for safer investment vehicles like bond funds and money market funds. 
This shift in investor behavior could potentially impact the performance of equity markets in the coming weeks.
Read Next: <a href="https://www.benzinga.com/news/24/06/39285670/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-unconventional-management-style-no-scheduled-1-on-1-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees With Nvidia CEO Jensen Huang&#8217;s Unconventional Management Style: No Scheduled 1-On-1 Meet</a>
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: Shutterstock

Unprecedented $21.93B Withdrawn From US Equity Funds Ahead Of Fed Decision

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) lost 15.22% last week after multiple analysts <a href="https://www.benzinga.com/quote/celh/analyst-ratings" target="_blank" rel="noreferrer noopener">lowered their price forecasts</a> for the stock.</li>
<li>Gold Fields Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) shares tumbled 12.59% after the company lowered its 2024 group production guidance due to the impact of weather <a href="https://www.benzinga.com//node/39317613" target="_blank" rel="noreferrer noopener">events on the Salares Norte project</a>.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) shares decreased 13.63% after it was announced that the proposed <a href="https://www.benzinga.com//node/39319277" target="_blank" rel="noreferrer noopener">transaction with Skydance is not moving forward</a>.</li>
<li>Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) shares declined 11.71% after Liberty Global on Thursday announced intentions to acquire <a href="https://www.benzinga.com//node/39318490" target="_blank" rel="noreferrer noopener">the company&#8217;s stake in Formula E</a>.</li>
<li>PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) shares fell 9.16% on news competitor Affirm&#8217;s payment products are expected to be available to <a href="https://www.benzinga.com//node/39295963" target="_blank" rel="noreferrer noopener">Apple Pay users in the US later this year</a>.</li>
<li>Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>) shares were down 7.66%.</li>
<li>Orange SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORAN#NYSE">ORAN</a>) stock lost 7.66% in the last week.</li>
<li>Nutrien Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTR#NYSE">NTR</a>) stock fell 7.14% after Piper Sandler maintained an Underweight rating and <a href="https://www.benzinga.com/quote/ntr/analyst-ratings" target="_blank" rel="noreferrer noopener">lowered its price target from $56 to $55</a>.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares fell 7.51%.</li>
<li>Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) stock decreased 7.51%.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares declined 5.88% after the company announced a proposed private institutional offering of $500 million in convertible <a href="https://www.benzinga.com//node/39335806" target="_blank" rel="noreferrer noopener">senior notes to acquire additional Bitcoin</a>.</li>
</ol>
<ol></ol>
Also Read: <a href="https://www.benzinga.com/news/24/06/39348307/apple-and-broadcom-were-among-10-large-cap-stocks-with-biggest-gains-in-the-last-week-june-9-june-15">Apple And Broadcom Were Among 10 Large Cap Stocks With Biggest Gains In The Last Week (June 9-June 15, 2024): Are They In Your Portfolio?</a>
Photo via Shutterstock

CELH

MBLY

MSTR

ORAN

PARAA

PYPL

Celsius And PayPal Were Among The 10 Biggest Large Cap Losers Last Week (June 9-June 15): Are These In Your Portfolio?

These large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) shares jumped 23.07% after the company reported&nbsp;upbeat <a href="https://www.benzinga.com//node/39318464" target="_blank" rel="noreferrer noopener">results for its fiscal&nbsp;second quarter</a>. Many analysts <a href="https://www.benzinga.com/quote/avgo/analyst-ratings" target="_blank" rel="noreferrer noopener">raised the price forecast on the stock</a>.</li>
<li>Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) jumped 17.14% on the report that the company will join the Nasdaq-100 Index <a href="https://www.benzinga.com//node/39324969" target="_blank" rel="noreferrer noopener">starting June 24, 2024</a>.</li>
<li>Caseys General Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) shares escalated 13.99% after the company reported better than expected&nbsp;Q4&nbsp;financial results and <a href="https://www.benzinga.com//node/39289435" target="_blank" rel="noreferrer noopener">increased its quarterly dividend</a>. Many analysts <a href="https://www.benzinga.com//node/39310541" target="_blank" rel="noreferrer noopener">boosted their price forecast</a> on the stock.</li>
<li>Qorvo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) shares gained 13.69% in the last week. Shares of semiconductor stocks gained in the last week after softer-than-expected CPI figures lifted socks on Wednesday while AI optimism continues to boost the sector.</li>
<li>Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) shares rose 12.97% on the optimism for the semiconductor sector.</li>
<li>Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>) shares jumped 12.68% following the purchase of 2,338,036 shares <a href="https://www.benzinga.com//node/39297081" target="_blank" rel="noreferrer noopener">by a company director</a>.</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) stock upped 12.24%.</li>
<li>Rentokil Initial Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTO#NYSE">RTO</a>) shares advanced 10.09% in the last week following a report suggesting Trian has <a href="https://www.benzinga.com//node/39297298" target="_blank" rel="noreferrer noopener">amassed a stake in the company</a>.</li>
<li>Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) shares escalated 9.97% on the heels of the company's quarterly results. The company also <a href="https://www.benzinga.com//node/39290117">announced partnerships</a> with&nbsp;Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and, OpenAI. Several analysts <a href="https://www.benzinga.com//node/39290117" target="_blank" rel="noreferrer noopener">raised the price forecasts</a> on the stock.</li>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares increased 7.74% following its annual WWDC event , during which the company<a href="https://www.benzinga.com//node/39297508" target="_blank" rel="noreferrer noopener"> unveiled several new AI software features</a>.</li>
</ol>
Also Read: <a href="https://www.benzinga.com/news/24/06/39348319/celsius-and-paypal-were-among-the-10-biggest-large-cap-losers-last-week-june-9-june-15-are-these-in">Celsius And PayPal Were Among The 10 Biggest Large Cap Losers Last Week (June 9-June 15): Are These In Your Portfolio?</a>
Photo via Shutterstock

ANET

AVGO

CASY

GOOGL

ORCL

QRVO

SWKS

Apple And Broadcom Were Among 10 Large Cap Stocks With Biggest Gains In The Last Week (June 9-June 15, 2024): Are They In Your Portfolio?

Former Treasury Secretary Larry Summers on Friday said he hasn&#8217;t seen a <a href="https://www.benzinga.com/government/24/06/39319275/no-income-tax-yes-to-high-import-tariffs-trump-floats-idea-to-ceos-gop-lawmakers">more inflationary economy policy than that of presumptive presidential candidate Donald Trump in his lifetime</a>, calling it an &#8220;irresponsible set of proposals.&#8221;
Biggest Supply Shock: Trump&#8217;s tariff proposals are the biggest supply shock that will likely push up prices of not just imported goods but all of goods that compete with those imported, Summers <a href="https://www.youtube.com/watch?v=NXdT6Zoq9YE">said</a> in an interview with Bloomberg.
&nbsp;&#8220;Anybody who&#8217;s worried about gouging should think that more competition, including from abroad, is a very, very important step,&#8221; he said. 
Summers noted that Trump&#8217;s plans for greater labor restrictions will likely cause wage inflation, and scaling back renewable energy subsidies will increase energy costs. This, the economist said, will significantly increase inflation and inflation expectations, putting more pressure on the Fed to prove its credibility.
&#8220;This could easily be a prescription for a 10% mortgage rate,&#8221; he said, adding that &#8220;this is really dangerous stuff.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/money/best-inflation-stocks" target="_blank" rel="noreferrer noopener">Best Inflation Stocks</a>
Misspeak? Regarding reports that Trump discussed replacing income taxes with tariffs in a meeting with Republican lawmakers, Summers said people sometimes misspeak and aren&#8217;t serious about what they say. 
&#8220;That&#8217;s probably a feature of candidate Trump,&#8221; he said.
Replacing the income tax with revenue from tariffs would be the worst macroeconomic policy proposal in U.S. history, the former Treasury secretary said.
&#8220;It, of course, burdens the middle class and the poor who purchase goods, the goods that exist on international markets. So, it&#8217;s regressive,&#8221; he added.
The economist noted that the 1930 Smoot-Hawley tariffs, which were only 0.6% of GDP, caused enormous damage and worsened the Great Depression. If currently, half of income tax revenues were replaced with tariffs, it would work out to six times Smoot-Hawley levels, he said.
&#8220;That&#8217;s got the potential to do enormous damage to the competitiveness of every U.S. exporter, to do huge damage to all kinds of workers who use imported goods in what their businesses produce to create a downward spiral,&#8221; Summers said.
He added that significantly higher prices for imported goods mean consumers will have less to spend on other items.
Summers also pointed out that higher tariffs will lead to economic warfare as other countries respond in kind. 
&#8220;This is a prescription for the mother of all stagflations,&#8221; he said.
The economist, however, believes that tariffs replacing income taxes could happen if Trump were elected, urging the market not to dismiss this possibility.
&#8220;But this is something that I think should be viewed very ominously,&#8221; he added.
Nobel laureate and economist Paul Krugman said last week that <a href="https://www.benzinga.com/news/24/06/39326844/trumps-tax-agenda-could-lead-to-133-tariffs-and-inflation-spike-says-paul-krugman-just-ignorant">Trump tariffs may have to be as high as 133% if they were to make up for the loss of revenue from income taxes.</a>
The iShares TIPS Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>), an ETF tracking the investment results of an index composed of inflation-protected U.S. Treasury bonds, ended Friday&#8217;s session up 0.12% at $106.19, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39340719/inflation-cools-in-may-fed-hints-at-slower-pace-of-rate-cuts-stocks-hit-new-record-highs-this-we">Inflation Cools In May, Fed Hints At Slower Pace Of Rate Cuts, Stocks Hit New Record Highs: This Week In The Market</a>
Photo: Shutterstock

Government

Regulations

Larry Summers Warns Donald Trump's Fiscal Policy Could Inflict More Damage Than One That Precipitated Great Depression: 'Prescription For The Mother Of All Stagflations'

What some people won't do to get marijuana from one place to another.
An Oakland man was indicted in Richmond, Va. on federal charges that he used his private Cessna to personally fly hundreds of pounds of cannabis across the country. His rides came to an end when his Virginia-based partner turned on him.
The unnamed informant, <a href="https://www.mercurynews.com/2024/06/03/for-months-an-oakland-pilot-allegedly-flew-marijuana-cross-country-on-his-cessna-then-the-person-paying-for-it-became-a-federal-informant/">reported</a> Mercury News, oversaw weekly clandestine cannabis sales in Virginia, where cannabis has been legal for three years but the <a href="https://www.benzinga.com/markets/cannabis/24/03/38002728/gop-governor-youngkin-vetoes-virginia-cannabis-sales-bill-3-years-after-legalization-sparking-de">commercial market is not</a>. The informant paid the pilot, Quentin Helgren, at least $15,000 per trip to fly some 85 to 120 pounds of marijuana each week from California to Virginia.
The weed flights went on throughout 2023 until this past January when the DEA raided the informer's Virginia warehouse and found hundreds of pounds of marijuana. This apparently compelled the Virginia weed dealer to cooperate with the authorities and flip on his courier Helgren.
The DEA found cellphone data and hotel records that further established Helgren was flying cannabis between Oakland and Virginia. 
Indicted in late May by a federal grand jury in Virginia for distributing marijuana, Helgren faces a maximum of 20 years in prison and a $250,000 fine. Federal prosecutors also filed a petition to seize his 1978 Cessna as part of the criminal prosecution under asset forfeiture laws.
<h2 class="wp-block-heading">South Carolina Man Busted For Lobbing Weed Over Prison Wall</h2>
Meanwhile, in South Carolina, a former inmate was arrested after lobbing cannabis and hash over the wall of a state prison with a "large launching device."  
Ronnie Ricardo Wells, 40, was stopped last week as he sped away from the Ridgeland Correctional facility, <a href="https://www.wistv.com/2024/06/14/warrants-man-arrested-after-using-launching-device-try-toss-weed-over-sc-prison-fence/">reported</a> WIS News 10. When the cops searched his car, they found the launching device, packages of cannabis and hash as well as a handgun. An arrest warrant from the South Carolina Department of Corrections Division accused Wells of tossing the packages of marijuana over the fence around the prison.
A Corrections Department document noted that the Ridgeland prison's contraband team had recovered the package and gave a description of Wells to local authorities.
Now read: <a href="https://www.benzinga.com/markets/cannabis/24/06/39336860/unscrupulous-practices-going-on-in-new-york-say-state-senators-about-150m-loan-for-beleaguered-c">&#8216;Unscrupulous&#8217; Practices Going On In New York, Say State Senators About $150M Loan For Beleaguered Cannabis Program</a>
Photo: Courtesy of Kindel Media by Pexels

Cannabis

Cannabis Delivery Flights Gets California Pilot Permanently Grounded, South Carolina Man Busted For Launching Weed Over Prison Wall

In less than five months, voters will head to the polls to choose between President Joe Biden and former President Donald Trump in the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
Many election polls continue to show a close race between the two front-running candidates in the race.
What Happened: Biden has gained support from independent voters in several recent polls after Trump was <a href="https://www.benzinga.com/general/politics/24/05/39100065/trump-found-guilty-on-all-34-counts-in-hush-money-criminal-trial-heres-what-happens-next">found guilty on 34 counts</a> in a criminal trial alleging he had falsified business records.
A new Morning Consult <a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling">poll</a> of nationally registered voters shows the following results in the head-to-head matchup of Biden and Trump, with the results from the <a href="https://www.benzinga.com/general/politics/24/06/39218545/trump-vs-biden-former-presidents-lead-drops-to-1-point-net-buzz-rating-hits-10-month-low-after-g">June 4 poll </a>in parentheses:
Joe Biden: 44% (43%)
Donald Trump: 43% (44%)
Someone Else: 8% (8%)
Don't Know: 5% (5%)
Of the Democratic voters polled, 86% have Biden as their top pick, which is down four percentage points from the previous poll. Eighty-seven percent of Republican voters polled have Trump as their top pick, which was down one percentage point from last week's poll.
Independent voters, who could decide the election, selected their 2024 pick as follows, with the June 4 results in parentheses:
Joe Biden: 34% (34%)
Donald Trump: 37% (35%)
Someone Else: 18% (21%)
Don't Know: 11% (11%)
Related Link: <a href="https://www.benzinga.com/general/politics/24/06/39281524/biden-trump-should-both-drop-out-of-2024-election-leading-pollster-says-country-would-be-better-">Biden, Trump Should Both Drop Out Of 2024 Election, Leading Pollster Says: &#8216;Country Would Be Better Served&#8217;</a>
Why It's Important: The latest poll gives Biden a rare lead, showing he&#8217;s closed the gap with Trump in recent months. This marks the first lead for Biden in the Morning Consult head-to-head poll since early May.
After Trump dominated Biden in head-to-head polls in January and February, Biden has narrowed the gap to one point, tied, or, in some cases, taken a lead over Trump in recent polls.
For the sixth consecutive week, Biden&#8217;s net favorability rating has been ahead of Trump&#8217;s, marking Biden&#8217;s longest streak since April 2023. This follows Trump&#8217;s hush money trial in New York. Trump hit his lowest net favorability rating since January.
In the latest poll, net buzz about immigration improved by eight points, with more people hearing what they perceived was positive than negative news. The eight-point gain comes after Biden <a href="https://www.benzinga.com/government/24/06/39144853/biden-to-sign-executive-order-to-limit-asylum-seekers-crossing-us-mexico-border-report">announced new restrictions</a> on asylum for people who cross the southern border illegally.
The net buzz for immigration hit its best mark since November 2023 in the Morning Consult weekly survey.
With immigration expected to be a big topic in the 2024 election, Biden's latest move may have helped win over voters.
The poll showed that 37% of voters approve of Biden's handling of immigration compared to 35% prior to his latest executive action.
The two candidates are set to face off in their first 2024 presidential debate on June 27. The debate will air on CNN, a unit of Warner Bros. Discovery. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39339704/michelle-obama-smokes-robert-kennedy-jr-in-presidential-race-match-up">Michelle Obama Smokes Robert Kennedy Jr. In Presidential Race Match-Up</a>
Photo: Shutterstock

Biden Back On Top: President Beats Trump By 1 Point In Latest 2024 Election Poll, How Immigration Efforts Are Helping To Win Over Voters

Federal Reserve

Kashkari Said We Are In A High Pressure Economy In Some Dimensions, But Some Signs It's Cooling; Job Market Has Performed Better Than Expected; May Be More Cooling

Kashkari Said Best Thing Fed Can Do For Housing Is To Get Inflation Down

Kashkari Said Median Projection Is For One Cut, That's Likely To Be Toward End Of The Year; Said We Need To See More Evidence To Convince Us Inflation Is Heading To 2%

Minneapolis Fed President Kashkari, Speaking On CBS' 'Face The Nation', Said Reasonable That Rate Cut Could Come In December

The NYC Register&#8217;s office was duped into filing sham deeds that falsely implicated Donald Trump&#8216;s daughter Ivanka Trump and Hillary Clinton in a $150 million Manhattan real estate transaction.
What Happened: The counterfeit documents were expunged after The New York Post flagged them, <a href="https://nypost.com/2024/06/15/us-news/nyc-duped-into-filing-bogus-ivanka-trump-hillary-clinton-real-estate-deal/">according </a>to the newspaper. The bogus deeds alleged that Ivanka Trump, Clinton, and an individual named &#8220;Louis Reyes&#8221; had acquired air and subterranean rights to the prestigious University Club and the world&#8217;s highest duplex condo at Central Park Tower. The documents received approval from city clerks on May 16.
The deeds also peculiarly asserted that the &#8220;purchasers&#8221; were &#8220;relatives or former relatives&#8221; of a purported seller named &#8220;David Smith.&#8221; Despite the city probing approximately 3,500 fraudulent deeds in the past 10 years, the paperwork was approved without the obligatory notary signatures.
See Also: <a href="https://www.benzinga.com/news/24/06/39346549/trump-vs-biden-latest-poll-results-in-key-state-of-virginia-spells-trouble-for-one-candidate-and-his?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Biden: Latest Poll Results In Key State Of Virginia Spells Trouble For One Candidate And His Pa</a>
Adelaide Polsinelli, a real estate broker at Compass who first noticed the fraudulent filing, expressed her concern and told the newspaper, &#8220;It&#8217;s frightening to think real estate documents can be so easily manipulated that every city clerk involved overlooked such an obvious fake.&#8221;
Ryan Lavis, a representative for the city Department of Finance, verified that the deed was erroneously filed and was withdrawn following a review.
Why It Matters: This incident underscores the vulnerability of real estate transactions to fraudulent activities. It raises serious questions about the effectiveness of the city&#8217;s measures to prevent such scams, especially considering the high-profile names involved in this case. 
The fact that such a glaringly fake deed could pass through the system undetected is a cause for concern for both the real estate industry and the city&#8217;s administration. 
Now Read: <a href="https://www.benzinga.com/news/24/02/37193915/judge-calls-out-ivanka-trump-in-new-york-civil-fraud-case-says-her-memory-recall-was-suspect">Judge Calls Out Ivanka Trump In New York Civil Fraud Case, Says Her Memory Recall Was &#8216;Suspect&#8217;</a>
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: Shutterstock

Real Estate

New York City Clerks Mistakenly Approve Paperwork That Falsely Tied Ivanka Trump And Hillary Clinton To $150 Million Real Estate Scam

The Perils Of Owning The Wrong Tech Stocks

Is There A Tech Bubble? Our Current Tech Positioning

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
By now, you&rsquo;ve heard of the Internet of Things (IoT) &mdash; or the network of physical devices, vehicles and other things embedded with sensors, software and network connectivity, which&nbsp;<a href="https://www.ibm.com/topics/internet-of-things">allows them to collect and share data</a>.&nbsp;That includes smart thermostats, smartwatches, vehicles and industrial machines to name a few. There have even been calls for &ldquo;smart cities&rdquo; based on IoT. All of which is a catalyst for some of the top IoT stocks.



Plus,&nbsp;<a href="https://www.ibm.com/topics/internet-of-things">according to IBM</a> (NYSE:<a href="https://investorplace.com/stock-quotes/ibm-stock-quote/">IBM</a>), &ldquo;The number of IoT devices is expected to continue to grow rapidly, with estimates suggesting that there will be tens of billion IoT devices in use over the next few years. This growth will be driven by increased adoption across industries, as well as the development of new use cases and applications.&rdquo;



&ldquo;Artificial intelligence&nbsp;and machine learning are becoming increasingly important for IoT, as they can be used to analyze vast amounts of data that is generated by IoT devices and extract meaningful insights. This can help businesses make more informed decisions and optimize their operations,&rdquo; they added.



No wonder the market could be worth about <a href="https://www.streetinsider.com/Evertise+Financial/Internet+of+Things+Market%C2%A0to+Reach+a+Staggering+USD+3373.1+Bn+by+2031+Fueled+by+Proliferation+of+Connected+Devices%2C+Industrial+Automation+and+Need+for+Real-Time+Data+Analytics/23133823.html">$3.37 trillion by 2031</a>, according to analysts at SNS Insider. Even better, here are some of the top IoT stocks that should thrive on the growth.



<h2>Samsara (IOT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/iot1600a-min-300x169.jpg" alt='A close-up shot of a tablet screen with "IOT" text and related emoticons in a connected web.'><div>Source: Shutterstock</div></div>After finding strong double-bottom support $30,&nbsp;Samsara&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/iot-stock-quote/">IOT</a>) is back to $36.82. From here, I&rsquo;d like to see it retest its high of about $40 initially, as it continues with its strong uptrend.



Helping, analysts at&nbsp;<a href="https://www.investing.com/news/company-news/samsara-shares-get-buy-rating-with-42-target-from-loop-capital-93CH-3383307">Loop Capital just initiated a buy rating</a>&nbsp;on the stock with a $42 price target. All thanks to its exposure to artificial intelligence, machine learning and IoT. Additionally, its technology allows it to be supportive of &ldquo;nearly endless&rdquo; use cases, implying that Samsara&rsquo;s total addressable market has few constraints, added the firm, as noted by Seeking Alpha.



Most recently, IOT announced a collaboration with logistics and transportation company TMS to help improve the safety of drivers and operators, while reducing accidents.&nbsp;



&ldquo;As part of this partnership, TMS will integrate Samsara&rsquo;s AI Dash Cams into its comprehensive security program. These cameras will provide real-time in-cab alerts as well as the ability to retrieve video on demand, allowing TMS to reduce mobile device use while driving and easily exonerate non-at-fault drivers in the event of incidents,&rdquo;&nbsp;<a href="https://www.businesswire.com/news/home/20240307213682/en/TMS-a-Top-Logistics-and-Transportation-Company-Has-Selected-Samsara-to-Improve-the-Safety-of-Its-Drivers-and-Operations">as noted in the press release</a>.



<h2>Global X Internet of Things ETF (SNSR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/iot1600e-min-300x169.jpg" alt=""><div>Source: Shutterstock</div></div>We can also look at IoT-related exchange traded funds (ETFs) such as the&nbsp;Global X Internet of Things ETF(NASDAQ:<a href="https://investorplace.com/stock-quotes/snsr-stock-quote/">SNSR</a>). Since bottoming out at around $28 in late 2023, the ETF ran to about $37. Now at $34.77, it&rsquo;s still a strong opportunity.&nbsp;



<a href="https://www.globalxetfs.com/funds/snsr/">With an expense ratio of 0.68%,</a>&nbsp;the SNSR ETF holds 53 stocks that could benefit from &ldquo;broader adoption of the Internet of Things (IoT), as enabled by technologies such as WiFi, 5G telecommunications infrastructure, and fiber optics,&rdquo;&nbsp;<a href="https://www.globalxetfs.com/funds/snsr/">as noted by Global X ETFs</a>.



&ldquo;This includes the development and manufacturing of semiconductors and sensors, integrated products and solutions, and applications serving smart grids, smart homes, connected cars, and the industrial internet,&rdquo; they added.



Some of its top holdings include&nbsp;Garmin&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/grmn-stock-quote/">GRMN</a>),&nbsp;DexCom&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/dxcm-stock-quote/">DXCM</a>),&nbsp;STMicroelectronics&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/stm-stock-quote/">STM</a>),&nbsp;Lattice Semiconductor&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/lscc-stock-quote/">LSCC</a>) and&nbsp;Qualcomm&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/qcom-stock-quote/">QCOM</a>) to name a few. What&rsquo;s nice about the SNSR ETF is that we can buy 100 shares for about $3,477 and gain exposure to 45 stocks.



<h2>Aptiv (APTV)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/shutterstock_1332033245-min-300x169.jpg" alt="An Aptiv (APTV) office building in Poland."><div>Source: shutterstock.com</div></div>There&rsquo;s also beaten-down, oversold shares of&nbsp;Aptiv&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/aptv-stock-quote/">APTV</a>), which exploded on Thursday.



The global technology company develops connected solutions enabling a more sustainable future of mobility. It just saw its stock pop about $8 on earnings. While its adjusted earnings per share of $1.16 beat estimates for $1.01, revenues of $4.901 billion missed expectations of $5.008 billion.



&ldquo;Aptiv delivered solid results in the first quarter with 200 basis points of margin expansion year-over-year and a return to growth above market, despite a slowdown in electrification in North America and Europe and persistent labor and material cost headwinds,&rdquo;&nbsp;<a href="https://www.aptiv.com/en/newsroom/article/aptiv-reports-first-quarter-2024-financial-results#:~:text=%E2%80%9CAptiv%20delivered%20solid%20results%20in,chairman%20and%20chief%20executive%20officer.">said&nbsp;Kevin Clark, chairman and chief executive officer in a company press release</a>.



The company also raised its fiscal year 2024 adjusted EPS outlook to a range of $5.80 to $6.30, as compared the estimates calling for $5.75. However, it did lower its revenue outlook to a new range of $20.85 billion to $20.45 billion, which is below estimates for $21.57 billion.



Fortunately, as we begin to see some improvement in global electric vehicle sales, Aptiv&rsquo;s numbers should start to come back strong.



On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/?utm_source=Nasdaq&amp;utm_medium=referral">Publishing Guidelines.</a>
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/3-internet-of-things-iot-stocks-with-the-potential-to-make-you-an-overnight-millionaire/">3 Internet of Things (IoT) Stocks with the Potential to Make You an Overnight Millionaire</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Internet of Things (IoT) Stocks with the Potential to Make You an Overnight Millionaire

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Investors may want to pay close attention to the 5G Internet of Things (IoT) market. That&rsquo;s because, by 2030 it could be worth about $285.28 billion, <a href="https://www.alliedmarketresearch.com/5g-iot-market-A12815#:~:text=The%20global%205G%20Internet%20of,improve%20their%20performance%20and%20reliability.">according to Allied Market Research</a>, up from about $1.45 billion in 2020. Even better, according to<a href="https://www.precedenceresearch.com/press-release/5g-iot-market"> Precedence Research</a>, the 5G IoT market could be worth about $823.14 billion by 2032.




<a href="https://www.google.com/search?client=safari&amp;rls=en&amp;q=%E2%80%9CThe+growing+trend+of+more+and+more+connected+devices+thanks+to+the%C2%A0Internet+of+Things%C2%A0(IoT)+will+continue+to+increase+due+to+advances+in%C2%A05G+technology.+The+increased+speed+and+lower%C2%A0latency%C2%A0will+enable+autonomous+devices+to+communicate+with+each+other+faster+and+with+a+high+degree+of+confidence%2C+making+decision-making+and+subsequent+actions+more+efficient.%E2%80%9D&amp;ie=UTF-8&amp;oe=UTF-8">According to Telefonica.com</a>, &ldquo;The growing trend of more and more connected devices thanks to the&nbsp;Internet of Things&nbsp;(IoT) will continue to increase due to advances in&nbsp;5G technology. The increased speed and lower&nbsp;latency&nbsp;will enable autonomous devices to communicate with each other faster and with a high degree of confidence, making decision-making and subsequent actions more efficient.&rdquo;




Even better, 5G is expected to unlock even more potential for industries. That includes smart connected homes, healthcare, factories, cities, self-driving, security, and even schools.



In short, the 5G Internet of Things will lead to significant opportunities. It could also lead to sizable profits for some of the top <a href="https://investorplace.com/industries/communications/5g/">5G stocks</a> to buy now. Here are three top stocks investors may want to start accumulating today.



<h2>Verizon (VZ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/vz1600-300x169.png" alt="Verizon Retail Location. Verizon delivers wireless, high-capacity fiber optics and 5G communications. VZ stock"><div>Source: RAMAN SHAUNIA / Shutterstock.com</div></div>Since late 2023, Verizon (NYSE:<a href="https://investorplace.com/stock-quotes/vz-stock-quote/">VZ</a>) ran from a low of about $30 to a high of nearly $43. Now at $40.40, there&rsquo;s still considerable upside ahead &ndash; especially when we factor in 5G IoT.



For example, Verizon just struck a deal with <a href="https://www.rcrwireless.com/20240227/5g/verizon-to-supply-4g-5g-iot-to-sony-honda-ai-ev-jv-in-us#:~:text=Verizon%20has%20been%20appointed%20via,the%20vehicle%20and%20its%20passengers.">Japan-based KDDI</a> to provide 4G/5G Internet of Things connectivity for an electric vehicle from Sony Honda Mobility. Referred to as the AFEELA line of EVs, they&rsquo;re expected to launch by 2025 and will be on U.S. roads by 2026.&nbsp;



In addition, &ldquo;The global 5G IoT market is expected to gain long-term recognition due to its various uses and benefits. The development of the 5G IoT market is also being driven by the growing demand for low latency,&rdquo; <a href="https://www.google.com/search?client=safari&amp;rls=en&amp;q=%E2%80%9CThe+global+5G+IoT+market+is+expected+to+gain+long-term+recognition+due+to+its+various+uses+and+benefits.+The+development+of+the+5G+IoT+market+is+also+being+driven+by+the+growing+demand+for+low+latency&amp;ie=UTF-8&amp;oe=UTF-8">as noted by Advance Market Analytics</a>.



In addition, while we wait for VZ shares to push higher, we can collect its current yield of 6.58%. Even better, analysts at Oppenheimer are bullish, giving the stock a target of $48.



<h2>AT&amp;T (T)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/att-t-stock1600-300x169.png" alt="AT&amp;T Retail cell phone and mobility store. T stock"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>We can also look at AT&amp;T (NYSE:<a href="https://investorplace.com/stock-quotes/t-stock-quote/">T</a>), which is also expected to benefit from the growing 5G IoT market. The company is also involved with what&rsquo;s known as 5G Reduced Capability (RedCap) &mdash; &ldquo;a reduced set of 5G capabilities intended for devices like wearables and low-cost hotspots that have low battery consumption, lower costs and lower bandwidth requirements,&rdquo; <a href="https://www.rcrwireless.com/20231208/5g/nokia-du-complete-5g-advanced-redcap-trial#">says RCRWireless.com</a>.



While we wait for AT&amp;T to push higher, we can collect its current yield of 6.46%.



Helping, analysts at Barclays just upgraded the telecom sock to overweight with a price target of $20. The firm&rsquo;s decision to upgrade the stock was driven by a&nbsp;&ldquo;mismatch between valuation and improvements in growth quality and execution,&rdquo; said the firm, <a href="https://www.wallstreetzen.com/news/barclays-upgrades-at-t-to-strong-buy-on-valuation-and-growth-improvements">as quoted by Wall Street Zen</a>. The site added, &ldquo;Barclays believes that this presents a unique opportunity.&rdquo;



From its current price of $17.17, if AT&amp;T can break above double-top resistance at around $17.79, it could test $18.50 resistance near term. From there, it could potentially test $21.



<h2>Global X Internet of Things (SNSR)</h2>



<div><img width="300" height="200" src="https://investorplace.com/wp-content/uploads/2018/06/Internet-of-things-300x200.jpg" alt="ThingWorx Makes PTC Stock a Great Buy for Growth Investors"><div>Source: Shutterstock</div></div>One of the best ways to diversify your portfolio with 5G IoT is with an exchange-traded fund, like the Global X Internet of Things ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/snsr-stock-quote/">SNSR</a>).&nbsp;



<a href="https://www.globalxetfs.com/funds/snsr/">With an expense ratio of 0.68%,</a>&nbsp;the SNSR ETF holds 53 stocks that could benefit from broader adoption of the Internet of Things (IoT). 



&ldquo;While the number of connected devices worldwide has already begun to proliferate rapidly, the launch of 5G networks is expected to significantly accelerate consumer and enterprise adoption of IoT products and services,&rdquo; they added.



Some of its top holdings include&nbsp;Garmin&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/grmn-stock-quote/">GRMN</a>),&nbsp;DexCom&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/dxcm-stock-quote/">DXCM</a>),&nbsp;Lattice Semiconductor&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/lscc-stock-quote/">LSCC</a>) and&nbsp;Qualcomm&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/qcom-stock-quote/">QCOM</a>).



On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/?utm_source=Nasdaq&amp;utm_medium=referral">Publishing Guidelines.</a>
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/3-cheap-5g-stocks-to-buy-now-may-2024/">3 Cheap 5G Stocks to Buy Now: May 2024 </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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