Apple Unveiling AI Strategy At WWDC 2024 Will Be A ‘Watershed Moment,’ Says Wedbush’s Dan Ives: Stock Could Go ‘Massively Higher’ To $250

Apple Inc. (NASDAQ:AAPL) is expected to reveal its artificial intelligence strategy at the Worldwide Developers Conference or WWDC, a move that could significantly boost the company’s stock, according to a prominent analyst Dan Ives. What Happened: On Friday, Ives, an analyst at Wedbush, appeared on Schwab Network and shared his insights on Apple’s future predicting that the unveiling of Apple’s AI strategy at the WWDC 2024 could be a pivotal moment for the tech giant. “Well, I think that’s where [Tim] Cook is gonna unveil the AI strategy… the start of the AI app store, and this is gonna be so important as AI now comes to the Apple ecosystem. And I think this is gonna be a watershed moment for Apple,” Ives said. Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox. Despite recent soft numbers, Ives remains optimistic about Apple’s future, stating, “I don’t view it quarter […]

Apple Unveiling AI Strategy At WWDC 2024 Will Be A ‘Watershed Moment,’ Says Wedbush’s Dan Ives: Stock Could Go ‘Massively Higher’ To $250 Read Post »

New Cybertruck Orders Will Only Be Delivered In 2025, Says Tesla Website

Potential Tesla Cybertruck buyers will now have to wait till 2025 to take deliveries of their vehicles if they place an order today. Tesla’s website now shows the expected delivery time as 2025 for both the all-wheel drive version of the Cybertruck and the higher-end Cyberbeast. It previously showed 2024. One can place an order for the Cybertruck with a fully refundable $250. The company will then invite order holders when the truck is ready to be configured. Cybertruck Production And Deliveries: Tesla does not segment its delivery numbers model-wise, making it difficult to ascertain how many Cybertrucks have been delivered since the company commenced deliveries in November. The company produced 20,995 units of Model S, X, and the Cybertruck cumulatively in the first quarter and delivered 17,027 units. Tesla plans to eventually deliver 250,000 Cybertrucks per year. However, Musk has previously cautioned that this milestone will not be reached this year but only

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Tesla Q1 Deliveries Were ‘Big Miss’ Even Amid Bearish Expectations, UBS Says

Tesla’s (TSLA) Q1 delivery figures were a “big miss” even amid a “very lowered bar,” UBS said in a note to clients emailed on Wednesday. The company said Tuesday it delivered 386,810 vehicles for the March quarter, compared with projections on Visible Alpha for about 454,200 units. It made 433,371 vehicles during the three-month period, lower than the forecast for 462,100 units. “Based on our conversations, buy-side expectations were lower, with the ‘bogey’ likely ~415k-420k,” said UBS analysts including Joseph Spak. “The lowest buy-side expectation we heard was ~400k, and results were ~3% below that figure.” The analysts said that “unique events” during the quarter — such as ramping the refreshed Model 3 at the Fremont plant, downtime caused by the Red Sea disruption, and an arson incident at the Berlin plant — hit production but demand seems to be slowing. “Showing a y/y delivery decline, especially at a rate

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CFRA Maintains Hold Opinion On Shares Of Ford Motor Company

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target by $1 to $14, based on a 2025 P/E of 7.6x, a justified discount to historic averages. We increase our 2024 EPS estimate to $1.85 from $1.80, but leave 2025 at $1.85. Ford posted Q1 U.S. auto sales of 508,083 units (+6.8% Y/Y), ahead of expectations and outperforming average U.S. sales growth of 5.5%. Ford’s results indicated a growing consumer appetite for hybrids, where sales jumped 42% Y/Y in Q1, driven by the Maverick hybrid (+77%). Ford’s U.S. EV sales growth was also robust, rising 86% Y/Y to 20,223 units. Ford’s U.S. sales growth was impressive relative to archrival GM, where volumes were -1.5% Y/Y in Q1. The bad news for Ford and the Detroit Three is that near-term comps will be

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CFRA Trims Rating On Shares Of Caterpillar Inc. To Hold From Buy

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: CAT shares have risen 65% from the end of October 2023 to a record of ~$375 per share. We now view CAT shares as fully valued following the recent run-up, and see there being less room to run given our outlook for low single-digit EPS expansion in 2024 and 2025. We believe the strong share performance can be tied to anticipated tailwinds in 2024, including government-led infrastructure investments, recovering residential construction activity, AI-driven data center buildout, and positive impacts from expected interest rate cuts. However, we view the near-term opportunity from these growth catalysts currently being baked into share price. China (typically 5%-10% of enterprise sales) poses a near-term headwind for CAT as economic conditions remain unfavorable, although a stronger-than-anticipated recovery would likely support stronger than forecasted

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Google Mulls Charging Fees for Generative AI Features

Alphabet’s (GOOG) Google is planning to add fees for use of new features powered by generative artificial intelligence, the Financial Times reported Thursday, citing people familiar with the matter. Google is studying options such as adding AI-powered search features to its existing premium subscription services, the report said. The company’s engineers are currently working on the technology needed for the service, but executives have yet to greenlight its launch, the FT reported.

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