HI Market View Commentary 07-01-2024
We have a “tricky” end of the year in our market – Second half of the year
Historically Sept is a down month and Oct is the worst or second worst month in the market
10 years running JULY has been un up month
Market big picture for two years = Tech=Magnificent 7 or 8 or 10
7=70.1%, 8=73%, 9=75%, 10=77.3% of all the S&P 500 gains for the last 22 months according to CNBC
Mary= I Want to be in those stocks You MISSED THE BOAT
Houston we have a problem with these stocks running so well
MU EPS 0.62 vs 0.51 REV 6.81B vs 6.67B 10% growth and the stock fell 10%
We still have a strong market Strong=Growing
BUT they are not growing as fast as they used to
PE ratios Price to Earnings
Can we get to 6000 or are we heading back down to 4300 with big support level at 5320
6000 is possible with positive earnings from ALL the other S&P 500 stocks that haven’t been keeping up with the Maga 10
A rate CUT unleashes a world wide easing
But I’m now in belief that we will have one rate cut this year. It should be in DEC but it might be in SEPT
YES, we can’t afford a rate cut, BUT the dollar is supper strong right now
NO TF&A because Thursday is the 4th of July and the markets are closed
WED is a half day and the markets close early
THIS WEEK I hold your nose and wait for next week to come
Good news is bad news and bad news is good news right now with a buying of the dips for the Mag 10 still
https://www.briefing.com/the-big-picture
The Big Picture
Last Updated: 28-Jun-24 15:09 ET | Archive
A P/E multiple needs a growth rate to go with it
The S&P 500 hit yet another record high this week. As of this writing, it is trading at 21.2x next twelve-month earnings, which is a 16% premium to its 10-year average, according to FactSet data.
That P/E multiple is the benchmark for determining whether a stock or a sector is “overvalued” or “undervalued” relative to “the market.” There is more to it than that, however.
The P/E multiple is a a convenient reference point, but the underlying earnings growth rate needs to be taken into account when thinking about whether a stock or sector is overvalued or undervalued relative to the market. This is where the price-to-earnings-growth rate, or “PEG rate,” comes into play. The PEG rate is determined by dividing the P/E multiple by the earnings growth rate. The current PEG rate for the S&P 500 is 1.28.
A sector trading at 24x next twelve-month earnings might look expensive relative to a market trading at 21.2x, but if that sector is expected to deliver 20% earnings growth, the corresponding PEG rate of 1.20 suggests it trades at a more attractive multiple than the market when its expected earnings growth rate is taken into account.
Below we provide a snapshot of a valuation breakdown for the 11 S&P 500 sectors centered around the P/E multiple and PEG rates. Even then, there is still more to consider in terms of a valuation analysis, but because earnings and earnings estimate trends drive the market, no P/E multiple is complete without an understanding of the earnings growth rate.
Valuation Snapshot
- 32.45% weight in S&P 500
- Trades at 30.4x next twelve month earnings — a 54% premium to the 10-yr average
- Next twelve month PEG ratio is 1.4
- 12.32% weight in S&P 500
- Trades at 14.9x next twelve month earnings — a 5% premium to the 10-yr average
- Next twelve month PEG ratio is 1.1
- 11.68% weight in S&P 500
- Trades at 19.4x next twelve month earnings — an 18% premium to the 10-yr average
- Next twelve month PEG ratio is 1.0
- 10.05% weight in S&P 500
- Trades at 25.3x next twelve month earnings — a 3% discount to the 10-yr average
- Next twelve month PEG ratio is 1.6
- 9.46% weight in S&P 500
- Trades at 19.73x next twelve month earnings — a 4% premium to the 10-yr average
- Next twelve month PEG ratio is 1.1
- 8.09% weight in S&P 500
- Trades at 20.6x next twelve month earnings — a 9% premium to the 10-yr average
- Next twelve month PEG ratio is 1.5
- 5.77% weight in S&P 500
- Trades at 20.4x next twelve month earnings — a 5% premium to the 10-yr average
- Next twelve month PEG ratio is 2.6
- 3.62% weight in S&P 500
- Trades at 12.0x next twelve month earnings — a 7% premium to the 3-yr average
- Next twelve month PEG ratio is 2.0
- 2.28% weight in S&P 500
- Trades at 16.6x next twelve month earnings — a 5% discount to the 10-yr average
- Next twelve month PEG ratio is 2.0
- 2.15% weight in S&P 500
- Trades at 19.5x next twelve month earnings — a 17% premium to the 10-yr average
- Next twelve month PEG ratio is 2.1
- 2.13% weight in S&P 500
- Trades at 16.8x next twelve month earnings — a 14% discount to the 5-yr average
- Next twelve month PEG ratio is 2.7
—Patrick J. O’Hare, Briefing.com
Earnings dates:
Where will our markets end this week?
Higher
DJIA – Bearish
SPX – Bullish and OVER-Bought
COMP – Bullish and way OVER-Bought
Where Will the SPX end July 2024?
07-01-2024 -2.00%
Earnings:
Mon:
Tues:
Wed: Market Closed HALF DAY
Thur: Market CLOSED 4th of JULY
Fri:
Econ Reports:
Mon: ISM Manufacturing, Construction Spending
Tue JOLTS
Wed: MBA, Initial Claims, Continuing Claims, ISM Services, ADP Employment, Trade Balance, Factory Orders, FOMC Minutes
Thur:
Fri: Average Workweek, Non-Farm Payroll, Private Payrolls, Hourly Earnings, Unemployment Rate
How am I looking to trade?
Mostly letting stocks run = very little protection in place – BIDU $88 now
www.myhurleyinvestment.com = Blogsite
info@hurleyinvestments.com = Email
Questions???
We sold MRO roughly at $28.51 The target upside was 30.31 or stock ownership of COP 0.255 shares per stock
We bought NVDA recently because it was cheap with some upside potential
YES our main goal is to protect current gains in stocks this year, but technically we have been letting stocks run
Retail traders came out in force to buy the recent dip in AI darling Nvidia
PUBLISHED THU, JUN 27 202411:22 AM EDTUPDATED THU, JUN 27 202412:11 PM EDT
Retailer traders took Nvidia’s recent sell-off as a buying opportunity, snapping up shares of the dominant artificial intelligence chipmaker amid the volatility.
The cohort bought $1.8 billion worth of Nvidia shares over the past week as the Jensen Huang-led company suffered a quick pullback, according to JPMorgan data. At the single-stock level, that accounted for almost all of the $2.1 billion that retail traders spent on individual securities last week, the bank said.
Nvidia’s sell-off started last Thursday after it temporarily unseated Microsoft as the most valuable public company in the U.S. It went on to see a 13% slump in the span of just three days. The stock has since recouped some of those losses, and the shares are now off just 2% so far this week.
Nvidia’s recent volatility
Nvidia makes valuable AI graphics processing units (GPUs) that are being sold to Microsoft, Google, Amazon, Oracle and Meta Platforms to power their data centers and cloud services.
Despite the latest decline, Nvidia has more than doubled in 2024, climbing 150% on top of last year’s 239% rally. The chipmaker, which has passed a $3 trillion valuation, has become so prominent that it’s now a bellwether that can sway the direction of the entire stock market.
JPMorgan estimated that retail investors are up 179% trading Nvidia this year, topping the stock’s year-to-date performance.
Meanwhile, other megacap tech stocks fared poorly among individual investors last week, JPMorgan said. Advanced Micro Devices saw net sales of $163 million, Microsoft had a net drawdown of $158 million and Tesla $122 million.
Top Democratic fundraisers sound the alarm after Biden’s debate performance
PUBLISHED FRI, JUN 28 202412:09 AM EDTUPDATED FRI, JUN 28 20241:00 PM EDT
KEY POINTS
- Top Democratic fundraisers are privately sounding the alarm about President Joe Biden’s disappointing debate performance against Donald Trump.
- Just 15 minutes into the debate, some of the Democratic Party’s top fundraisers had already reached out to CNBC, almost all raising concerns about Biden’s debate performance.
Many of the Democratic Party’s top fundraisers are privately sounding the alarm after President Joe Biden’s disappointing debate performance Thursday against Republican former President Donald Trump.
“Disaster,” said a Biden donor who plans to attend a fundraiser with the president on Saturday in the Hamptons.
“This is terrible. Worse than I thought was possible. Everyone I’m speaking with thinks Biden should drop out,” said the person, who was granted anonymity in order to recount private conversations.
CNBC began hearing from worried Democratic campaign donors and fundraisers less than 20 minutes into the 90-minute debate hosted by CNN.
“Game over,” said a longtime Democratic campaign advisor, who has been raising money for congressional leaders for over a decade and helped raise money for Biden’s 2020 White House bid.
“Biden’s got to leave. He’s got to get out now and if he doesn’t get out we’re going to get f—— crushed,” said the advisor. They told CNBC they planned to approach Democratic National Committee Chairman Jaime Harrison on Friday to discuss what happened at the debate.
An advisor of one of the Democratic Party’s top megadonors called the debate an “absolute train wreck” for Biden. “Worse than [Ronald] Reagan in ’84 or [George W.] Bush in ‘04 or [Barack] Obama in ’12,” they added.
The problems for Biden at the debate started early. He stumbled out of the gate, appearing to lose his train of thought at times and pausing for a long moment before CNN moderators cut him off when he was discussing U.S. health care.
“Making sure that we’re able to make every single solitary person eligible for what I’ve been able to do with the, with the Covid, excuse me, with dealing with everything we have to do with, look …” Biden said, trailing off.
“Look, if, we’ve finally beat Medicare,” Biden said, before CNN anchor and moderator Jack Tapper gently moved on. “Thank you, President Biden,” said Tapper.
Several times later in the debate, the president repeated himself, or left several seconds of silence mid-answer. Throughout the evening, Biden’s voice was raspy and quiet.
Biden’s campaign co-chair Mitch Landrieu told NBC News this was because the president had a cold. “I think because of the way people analyze debates, it’s going to be at first about the physical performance,” said Landrieu.
Even Vice President Kamala Harris acknowledged that Biden was not in top form. “Yes, it was a slow start, but it was a strong finish,” she said on CNN late Thursday.
For example, answering a question about border security — a top voter issue this election cycle — Biden’s sentence was grammatically difficult to follow.
“I’m going to continue to move until we get the total ban on the total initiative relative to what we’re going to do with more Border Patrol and more asylum officers,” Biden said.
Trump pounced on the stumbles. “I don’t know what he said at the end of that sentence. I don’t think he knows what he said, either,” the former president quipped.
Representatives for the Biden campaign did not respond to requests for comment.
Replacing Biden on the ticket now would be extremely difficult, with less than two months until the Democratic National Convention in August. The president would effectively have to drop out of the race, leaving the decision about a nominee up to the delegates at the convention.
“It was a really disappointing debate performance from Joe Biden, I don’t think there’s any other way to slice it,” Kate Bedingfield, former White House communications director in the Biden administration until 2023, said on CNN.
“His biggest issue was to prove to the American people that he had the energy, the stamina — and he didn’t do that,” she said.
Amazon beefs up AI development, hiring execs from startup Adept and licensing its technology
PUBLISHED FRI, JUN 28 20247:32 PM EDT
KEY POINTS
- Amazon has hired top executives from AI agent startup Adept, the company confirmed.
- As part of the deal, Amazon will license technology from Adept, including some of its AI models and datasets.
- Amazon has been trying to keep pace with competitors in AI by developing services and through its investment in OpenAI competitor Anthropic.
Amazon is ramping up its development of artificial intelligence technology, hiring top talent from AI agent startup Adept and licensing the company’s technology.
Rohit Prasad, a senior vice president and head scientist who oversees Amazon’s artificial general intelligence unit, wrote in a memo to employees on Friday that the company hired Adept co-founder and CEO David Luan and “a few other deeply talented team members to our AGI team.”
Luan will oversee Amazon’s “AGI Autonomy” division, and report to Prasad, he wrote in the memo, which CNBC obtained. Amazon confirmed the contents of the memo. Geekwire was first to report on it.
Amazon faces fierce competition in AI, as rivals Microsoft and Google rapidly add new features into their core products while also giving businesses more ways to access large language models in their public cloud offerings. Amazon’s cloud unit has launched a range of AI services, including its own models, which are generally viewed as lagging behind the top competitors.
Amazon has also pumped billions of dollars into OpenAI competitor Anthropic, and it’s planning to overhaul its Alexa voice assistant with a new paid version that has generative AI capabilities. Prasad, who previously served as a head scientist for Alexa, was tapped in August to steer Amazon’s development of AGI, or software that’s significantly more advanced than current AI and starts to approach human-level capabilities.
Last month, Amazon announced Adam Selipsky, the head of Amazon Web Services, would be stepping down and succeeded by Matt Garman, the head of sales at marketing at AWS.
Talent wars are heating up across the industry.
Microsoft in March hired Mustafa Suleyman, a cofounder of Google’s DeepMind who went on to lead startup Inflection AI. Microsoft also brought on several of Inflection’s top executives and is licensing some of its technology. The arrangement caught the attention of the Federal Trade Commission, which is probing whether Microsoft structured the deal to avoid antitrust review, The Wall Street Journal reported.
Adept was founded in 2022 by a group of former OpenAI and Google engineers. The company quickly attracted the backing of Microsoft and Nvidia and was valued at more than $1 billion in early 2023.
Adept is a player in the burgeoning space of AI agents, which refers to AI tools that are equipped to complete complex tasks without human assistance. The startup was reportedly developing an agent that can perform actions on a computer on the user’s behalf, like navigating webpages and logging data.
As part of Friday’s agreement, Amazon will license Adept’s technology, multimodal models and some datasets, which “will accelerate our roadmap for building digital agents that can automate software workflows,” Prasad wrote. Amazon is using the technology under a non-exclusive license, the company said.
“David and his team’s expertise in training state-of-the-art multimodal foundational models and building real-world digital agents aligns with our vision to delight consumer and enterprise customers with practical AI solutions,” Prasad said.
Adept confirmed the move in a blog post. The company noted that developing its own AI models would’ve required more capital, and said the Amazon deal will allow it to focus on building agents. Adept will continue to operate as a standalone company after Luan and other execs join Amazon.
Sen. Warren warns Powell against weakening banking regulations: ‘Do your job’
PUBLISHED TUE, JUN 18 20248:15 AM EDTUPDATED TUE, JUN 18 20249:43 AM EDT
- Elizabeth Warren is accusing Fed Chair Jerome Powell of doing the financial industry’s bidding in considering changes to Basel III Endgame regulations.
- In a letter first obtained by CNBC, Warren asked Powell for a response to reports that “you are advocating for slashing in half” the increase in capital required under the proposals.
- Bank CEOs and their lobbying groups have said the increases are unnecessarily aggressive and would force the industry to curtail lending.
Sen. Elizabeth Warren, D-Mass., is accusing Federal Reserve Chair Jerome Powell of doing the financial industry’s bidding by considering changes to a sweeping set of regulations aimed at boosting the capital cushion that large American banks would be required to hold.
In a June 17 letter first obtained by CNBC, Warren asked Powell for a response to reports that “you are advocating for slashing in half” the increase in capital required under the proposals, known as the Basel III Endgame.
“I am disappointed by press reports indicating that you are personally intervening—after numerous meetings with big bank CEOs—to delay and water down the Basel III capital rules,” said Warren.
Last year, three U.S. banking regulators including the Federal Reserve unveiled the proposed rules, a long-expected regime shift around bank capital and risky activities such as trading and lending. The regulations incorporate new international standards created as a response to the 2008 global financial crisis.
“These rules are critical and long overdue, particularly in the wake of the Silicon Valley and Signature Bank failures, and as risks from the weak commercial real estate market and other economic threats ripple through the banking system,” Warren said.
Bank CEOs and their lobbying groups have said the increases are unnecessarily aggressive and would force the industry to curtail lending.
In March, Powell told lawmakers that he expected “broad and material changes” to the proposal in the wake of the industry’s campaign against the rules. JPMorgan Chase CEO Jamie Dimon coordinated efforts to weaken the rules, urging CEOs to appeal directly to Powell, The Wall Street Journal reported last month.
“It now appears that you are directly doing the bank industry’s bidding, rewarding them for their extensive personal lobbying of you,” Warren said in her letter. “Taking orders from the industry that caused the 2008 economic meltdown would sacrifice the financial security of middle-class and working families to line the pockets of wealthy investors and CEOs.”
She further criticized Powell, saying “regulatory rollbacks” under the Fed chair allowed the regional banking crisis of 2023 to happen and “enriched Jamie Dimon and his Wall Street cronies.”
Warren urged Powell to allow a Federal Reserve Board vote on the original, tougher Basel proposal by the end of this month. The window to finalize and approve the rules ahead of U.S. elections in November is closing, and analysts have said that the proposal could be delayed or killed if Donald Trump is reelected president.
“Instead of doing Mr. Dimon’s bidding, you should do your job and allow the Board to convene for a vote on a 16% capital increase by June 30th, as global regulators determined was necessary to prevent another financial crisis,” Warren said.
When asked for a response to Warren’s letter, a Fed spokesperson had this statement on Tuesday morning: “We have received the letter and plan to respond.”
If you always use these 6 phrases, you’re mentally stronger than most
Published Fri, Jun 14 20247:45 AM EDT
Scott Mautz, Contributor@/IN/SCOTTMAUTZ/
I’ve spent 30 years researching what makes people, and especially leaders, mentally strong. Along the way, I’ve discovered that you become mentally stronger by exercising six core mental muscles:
- Confidence
- Fortitude
- Boldness
- Decision-making
- Goal-focus
- Messaging (which is about showing up positive-minded and engaged)
You can get in easy “reps” to build these muscles by being intentional about what you say to others — and to yourself.
If you say these six phrases to yourself or others on a regular basis, you’re mentally stronger than most:
1. ‘I’m enough’
It’s all too easy to feel the opposite. It’s natural to get caught up in comparisons to others that make you feel like you’re not enough.
We often believe our differences are an impediment to our success when, in truth, they can help propel us there.
DON’T MISS: The ultimate guide to becoming a master communicator and public speaker
The only comparison you can make that’s actually relevant is between who you are today and who you were yesterday. The only question that’s truly important is whether or not you’re growing.
Mentally strong people remind themselves of this to bolster their confidence muscle.
2. ‘What possibilities does this setback present?’
You exercise your fortitude muscle when you help yourself and others focus on the opportunities that arise in adversity, rather than the limitations. It’s a cornerstone of being mentally strong.
We tend to focus on what we’ve lost due to adversity — like time, money, progress, self-belief, our identity or even our job.
Mentally strong people focus on what they still have in the face of adversity, and what possibilities now present themselves.
3. ‘Am I letting myself dream big?’
The mentally strongest people have a habit of thinking big. They’ve given themselves permission to do so, and encourage others to do the same.
It’s not as easy as it sounds. Most of us are overloaded with our daily tasks, priorities and distractions. Who has time to dream big? And we often convince ourselves, “Big things happen to other people, not people like me.”
If you want to develop a strong, toned boldness muscle, you have to let yourself go there. You need to believe you’re allowed to dream big, that big things can happen to people like you — and that thinking big and being bold will help forge a better, more accomplished version of you.
4. ‘What’s the cost of indecision?’
Decisiveness is a hallmark of the mentally strong. They don’t get hung up over what happens if they make the wrong decision, or paralyzed by their fear of making the wrong call. They remind themselves and others to be cognizant of what happens the longer a decision is delayed.
A famous rock singer once lamented, “If you choose not to decide, you still have made a choice.”
It’s often a costly choice. Your indecision could mean that timelines and costs skyrocket, depleting resources as you chase parallel paths.
5. ‘Am I controlling the controllables?’
Mental strength is strongly correlated with achievement. In order to achieve your goals, you need your goal-focus muscle.
You’re thrown off your path to your goal when you pay undue attention to things you can’t control along the way. Doing a “Control Check” helps.
Create a simple, two-column table. Label the left column “Setbacks” and the right column “Systems.” Under “Setbacks,” list all the obstacles you’re worried about that could keep you from accomplishing your goal.
Then, circle only the potential setbacks you can control.
In the “Systems” column, list all the processes, procedures and structures you can put in place that will help you overcome the challenges you circled that you can do something about.
6. ‘I don’t have to do this; I get to do this’
This one-word reframe unlocks gratitude, making you feel re-energized when the duties of your job are wearing you down.
For example, on days when I have to travel for my job (the travel itself being something I no longer enjoy), I keep myself from thinking “I have to do this,” by instead saying to myself, “I get to do this.” As in: “I soon get to be on stage, giving a keynote address and sharing insights and inspiration that will help people.”
It’s how I exercise my messaging muscle, another key element of mental strength. I remind myself of all the good parts of being a speaker and writer, and carry that positivity, energy and joy with me throughout my day.
Scott Mautz is a popular speaker, trainer, and LinkedIn Learning instructor. He’s a former senior executive of Procter & Gamble, where he ran several of the company’s largest multi-billion-dollar businesses. He is the author of ”The Mentally Strong Leader: Build the Habits to Productively Regulate Your Emotions, Thoughts, and Behaviors.” Follow him on LinkedIn.
Rags to Riches: 3 Autonomous Driving Stocks That Could Make Early Investors Rich
Invest in the future with autonomous driving stocks with massive upside
By Faizan Farooque, InvestorPlace Contributor Jun 19, 2024, 4:04 pm EDT
- With a market projected to reach $62 billion by 2026, autonomous driving stocks offer significant upside potential
- Mobileye Global (MBLY): Mobileye controls 70% of the ADAS market, with a projected 46% upside.
- Baidu (BIDU): Baidu’s Apollo Go plans to expand to 100 cities by 2030, with a 67% potential upside.
- Luminar Technologies (LAZR): Luminar’s lidar tech is now in Volvo Cars globally, with a potential 236% upside despite recent layoffs.
The long-term potential of stocks pertaining to autonomous driving makes them appealing. By 2024, there may be more than 54 million cars on the road with some sort of self-driving tech installed. The market is thus expected to grow from $24 billion in 2021 to $62 billion in 2026.
Positive regulatory action is also contributing to the success of autonomous driving stocks in a number of locations. By altering its standards, the US National Highway Traffic Safety Administration made AV testing and deployment simpler. There are sizable AV testing and operation infrastructures for public roads in both California and Arizona.
Furthermore, tax advantages and subsidies for research and development are provided by the Chinese government to companies in the AV ecosystem. For supervised testing, there are sizable AV testing areas in Beijing, Shanghai, and Shenzhen.
Meanwhile, 50,000 Los Angeles consumers on a waitlist may take advantage of complimentary robotaxi trips from Waymo. While Wayve uses artificial intelligence and machine learning to enhance car navigation and decision-making, Amazon’s (NASDAQ:AMZN) Zoox is using robotics to drive its robotaxis further, quicker, and at night in Las Vegas.
The $62 billion market, favorable legislative tailwinds, and the participation of major corporations like as Amazon make autonomous driving stocks a solid investment throughout the year. To be safe, however, stick to undervalued plays—those with the most potential.
Top Autonomous Driving Stocks: Mobileye Global (MBLY)
Mobileye Global (NASDAQ:MBLY), spun out from Intel (NASDAQ:INTC), is one of the top autonomous driving stocks trading at an attractive valuation, down 37% this year, as investors price in higher inventories and a sharp drop in sales in its latest quarter. But a comeback is on the cards for MBLY, which controls a 70% market share in the advanced driver assistance systems sector; analysts hold a ‘strong buy’ consensus on the stock and a target price of $38, translating into around 46% upside.
The EyeQ6 Lite system-on-chip from Mobileye powers advanced driver-assistance systems (ADAS) in numerous car models coming this year, improving performance and safety while saving money. High-compute density accelerators and improved pixel segmentation improve emergency braking, lane-keeping, and automatic cruise control.
Volkswagen Group and Mobileye are also partnering to develop and employ driver assistance and self-driving vehicle technology. This agreement enhances Level 2 and 3 driving features, improving driving safety across Volkswagen’s Porsche, Audi, Bentley, and Lamborghini brands. Volkswagen’s totally electric ID will use Mobileye’s technology. Buzz automobiles for transportation and mobility.
Baidu (BIDU)
Baidu’s (NASDAQ:BIDU) Apollo RT6 is a self-driving electric car meant to work with robotaxi services. The RT6 is a fully electric car with a driving wheel that can be taken off to make room for more people or extra features like televisions, vending machines, or video game systems. The car has advanced technology, including 1,200 TOPS of computer power and a complex sensor design with 38 sensors: it can drive itself at Level 4 and has automatic parking features, and boasts 8 LiDARs, 6 millimeter-wave radars, 12 ultrasonic radars, and 12 cameras.
BIDU is the first company in China to gain permission to run fully driverless robotaxi services. Baidu’s Apollo Go cars can drive without a safety driver during the day in certain areas of Wuhan and Chongqing, thanks to the permits. Baidu wants to use thousands of self-driving cars and cut the price of robotaxi rides by a substantial margin, with the goal of making them half the price of regular cabs.
Since 2020, Baidu’s Apollo Go robotaxi service has served over a million individuals; it wants to serve 100 cities by 2030, up from 65 currently. In the next years, Baidu will use Apollo RT6 automobiles extensively. A sprawling conglomerate, BIDU doesn’t need to rely on its autonomous driving segment to fuel its business line; it’s the other way around; analysts rate it a ‘strong buy’, forecasting a potential upside of 67%.
MU Stock Earnings: Micron Technology Beats EPS, Beats Revenue for Q3 2024
Micron Technology just reported results for the third quarter of 2024
1d ago · By InvestorPlace Earnings
Source: Charles Knowles / Shutterstock.com
Micron Technology (NASDAQ:MU) just reported results for the third quarter of 2024.
- Micron Technology reported earnings per share of 62 cents. This was above the analyst estimate for EPS of 51 cents.
- The company reported revenue of $6.81 billion.
- This was 2.11% better than the analyst estimate for revenue of $6.67 billion.
InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.
HI Financial Services Mid-Week 06-24-2014