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Micron warns weakening consumer demand will hurt smartphone sales
Sanjay Mehrota, Micron Technology President & CEO at the WEF in Davos, Switzerland on May 24th, 2022. Adam Galica | CNBC Micron Technology, a major vendor of memory chips for PCs and smartphones, said on Thursday that it expects smartphone sales to be meaningfully lower than previously expected for the rest of 2022, citing a reduction […]
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Big technology stocks like Tesla, Amazon and Microsoft just finished their worst quarter in years
Elon Musk attends The 2022 Met Gala Celebrating “In America: An Anthology of Fashion” at The Metropolitan Museum of Art on May 2, 2022 in New York City. (Photo by Gotham/Getty Images) Gotham | Getty Images Investors lowered the valuations of the world’s largest technology companies in the second quarter as central bankers ratcheted up […]
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Bitcoin just had its worst month on record
Bitcoin just finished its worst month on record, losing more than 38% of its value in June, as of Thursday afternoon. Ether, the world’s second-biggest cryptocurrency by market capitalization, ended the same period down by about 47%. Though weakness in the digital assets sector is part of a broader flight from risk, confidence in the crypto market, in […]
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Former top Apple lawyer pleads guilty to insider trading
Gene Daniel Levoff, a former lawyer in charge of Apple Inc.’s insider trading policy, exits from federal court in Newark, New Jersey, U.S., on Wednesday, Feb. 20, 2019. Natan Dvir | Bloomberg | Getty Images The former top corporate lawyer at Apple pleaded guilty on Thursday to insider trading charges, for what prosecutors called a five-year […]
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Former Apple, JC Penney exec Ron Johnson’s Enjoy Technology files for bankruptcy months after it went public
Ron Johnson during a panel discussion at the CNBC Evolve New York event on June 19, 2019. Astrid Stawiarz | CNBC Enjoy Technology, a retail startup founded by former Apple and J.C. Penney exec Ron Johnson, filed for Chapter 11 bankruptcy protection on Thursday, mere months after it made its stock market debut. The company’s […]
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Apple opens up third-party app payments in Korea, will still take 26% cut
Tim Cook at the Apple launch event, March 8, 2022 Apple Apple said on Thursday that developers with iPhone apps distributed exclusively in the South Korean App Store can request to use third-party payment systems instead of Apple’s in-app offering. But doing so will come at a cost. Apple will require apps that take advantage […]
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Here’s what’s hot — and what’s not — in fintech right now
There has been something of a rotation out of certain pockets of fintech that were hyped by venture capitalists last year, such as crypto and “buy now, pay later,” and into less sexy areas focused on generating stable streams of income. Jantakon Kokthong / Eyeem | Eyeem | Getty Images Financial technology is the hottest […]
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Starz could turn into an ‘acquisition machine’ after Lionsgate spins it off
Liberty Media’s John Malone Michael Kovac | Getty Images Written in the Starz? Lionsgate is planning a spinoff of Starz, home of “Outlander” and “Power,” by early next year. Vivendi’s Canal Plus and private equity firm Apollo Global, in tandem with streaming distributor Roku, have both made preliminary bids for a 20% stake, sources say. A deal […]
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U.S. FCC commissioner wants Apple and Google to remove TikTok from their app stores
A leader of the U.S. Federal Communications Commission said he has asked Apple and Google to remove TikTok from their app stores over data security concerns. Pictured here is the TikTok download page on an Apple iPhone on August 7, 2020. Drew Angerer | Getty Images News | Getty Images BEIJING — A leader of […]
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Goldman says investors may be missing ‘rapid’ growth in chip stocks — and gives 2 over 70% upside
A new innovation in semiconductor technology is likely to benefit several companies, according to Goldman Sachs — and investors may be underestimating its potential impact, the bank said. Silicon carbide, or SiC, is a chemical compound increasingly used in semiconductors and is more efficient than traditional silicon, Goldman’s analysts led by Daiki Takayama said in […]
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