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On Thursday, October 24, 2024, major analyst calls were made regarding several prominent companies, including Tesla, Apple, Meta, IBM, and Microsoft. These evaluations are expected to influence market perceptions and investor decisions in the tech sector.
Mukesh Ambani, Chairman of Reliance Industries, praised Meta founder Mark Zuckerberg for making the Llama language open source, stating, "Zuckerberg will go down in history for doing this." This remark was made during a discussion with Nvidia's Jensen Huang in Mumbai on October 24. The Llama language, released by Meta in February 2023, is a family of autoregressive large language models, and Reliance is collaborating with Nvidia to develop AI infrastructure in India.
U.S. stocks fell as rising Treasury yields weighed on the market, with major companies like Apple and Nvidia dropping over 2%. Tesla's shares surged 12% after beating earnings forecasts, while SK Hynix reported a record profit despite slightly missing revenue expectations. Apple is exploring collaborations in China, and analysts suggest European stocks may have significant growth potential despite overall market lag.
At the TED AI Conference, OpenAI scientist Noam Brown highlighted the transformative potential of the new o1 model, emphasizing the importance of "system two thinking" in AI. He illustrated that allowing AI to deliberate for just 20 seconds can yield performance gains equivalent to scaling models by 100,000 times. This approach could revolutionize industries like healthcare and finance by enhancing decision-making processes, despite the higher costs associated with the o1 model.
Apple has significantly reduced production of its Vision Pro headset, which starts at approximately $3,500, in contrast to Meta's Quest 3 priced around $500. Reports indicate that suppliers have manufactured enough components for 500,000 to 600,000 units, but one factory halted production in May.
Warren Buffett has announced that he will not endorse any investment products or political candidates, aiming to combat fraudulent claims exploiting his reputation. This decision follows the rise of fake endorsements, particularly highlighted by a false political endorsement on Instagram.
Warren Buffett has expressed concern over impersonators misusing his name to endorse investment products and political candidates, prompting Berkshire Hathaway to issue a statement clarifying that he does not endorse such entities. He emphasized that any claims of his endorsements, especially on social media, are fraudulent, and he is particularly worried about the rise of deep fakes. Buffett's actions were partly triggered by a fake political endorsement on Instagram, a platform he does not use.
Meta Platforms is set to announce its Q3 2024 earnings on October 31, with expectations of $40.3 billion in revenue and $5.23 EPS. Historical performance shows significant volatility post-earnings, with sharp price movements reflecting investor sentiment, particularly in strong and weak quarters. Immediate reactions can be intense, but trends over one week and one month provide clearer insights for investors.
Asia stocks are mostly rising following a Wall Street rally, with investors optimistic about lower interest rates as the U.S. Federal Reserve begins its easing cycle. The S&P 500 is up 24% year-to-date, while the "Magnificent Seven" tech stocks have seen significant gains. As the U.S. election approaches, Bank of America notes that political outcomes could impact specific market sectors, emphasizing the importance of stock selection over index investing. Meanwhile, crude oil prices have risen amid geopolitical tensions, despite a bearish supply-and-demand outlook. The IMF has lowered its global inflation projection, indicating a shift in focus for policymakers towards economic growth challenges.
Jim Cramer noted that recent gains in Big Tech stocks were driven by shifts in the bond market rather than the companies' fundamentals, as rising bond yields prompted investors to move away from cyclical stocks. Despite a downturn in the Dow and S&P 500, the Nasdaq Composite saw a slight increase, with stocks like Amazon, Meta, Alphabet, and Microsoft benefiting. Cramer reassured investors that the current market fluctuations are temporary and that solid companies can rebound even after disappointing earnings reports.
Meta Platforms, Inc.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
analysts highlight key calls for tesla apple meta ibm and microsoft
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14:33 24.10.2024
Mukesh Ambani praises Mark Zuckerberg for making Llama language open source
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Mukesh Ambani
Jensen Huang
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10:29 24.10.2024
rising treasury yields weigh on us stocks as earnings season unfolds
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SK Hynix
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08:48 24.10.2024
openai scientist highlights system two thinking as key to ai advancement
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Noam Brown
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21:46 23.10.2024
Apple reduces Vision Pro production amid rising competition from Meta
17:31 23.10.2024
Warren Buffett denies endorsing investment products or political candidates
17:00 23.10.2024
warren buffett warns against impersonators and false endorsements on social media
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Berkshire Hathaway Inc.
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13:32 23.10.2024
Meta Platforms earnings expectations and stock performance analysis for Q3 2024
06:13 23.10.2024
asia stocks rise as investors eye election impact and oil prices
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Apple Inc.
Alphabet Inc.
Meta Platforms, Inc.
Microsoft Corporation
NVIDIA Corporation
Tesla, Inc.
Amazon.com, Inc.
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Amala Balakrishner
Weizhen Tan
Beeneet Kothari
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01:58 23.10.2024
money shifts back to big tech amid rising bond yields
00:40 23.10.2024
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