Short interest for Alphabet gives investors a sense of the degree to which investors are betting on the decline of Alphabet's stock. Short interest data is updated every two weeks.

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Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google services account for nearly 90% of Alphabet's revenue, of which more than 85% is from online ads. Other Google services revenue is from sales of apps and content on Google Play and YouTube, as well as sales of hardware such as Chromebooks, the Pixel smartphone, and smart home products, which include Nest and Google Home. Google's cloud computing offerings account for a bit more than 10% of total Alphabet revenue. Alphabet's moonshot investments are in its other bets segment, where it bets on technology to enhance health (Verily), provide faster internet access (Google Fiber), enable self-driving cars (Waymo), and more.

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YouTube, a subsidiary of Alphabet Inc, will be restricting access to 32 video links in Hong Kong, as per a court ruling. The videos contain content that has been deemed inappropriate by the Hong Kong government

Google To Comply With Court Order Banning Protest Anthem That Infuriated China  — &#39;Glory To Hong Kong&#39; To Be Taken Down From YouTube

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Munster noted that Google is approximately six months behind OpenAI in terms of AI development, but is still about five years ahead of the rest of the industry. He observed that Google&#39;s AI progress is evident in its generative and agentic AI technologies. 

Google Is 6 Months Behind ChatGPT-Parent OpenAI In Artificial Intelligence But &#39;About 5 Years Ahead Of Everyone Else,&#39; Says Gene Munster

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Rumble shared their Q1 financial results and shared a lawsuit filed against Google.

Rumble Q1 Earnings Highlights: Revenue Miss, EPS Miss, Lawsuit Filed Against Google

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YouTube has announced that it will be blocking access to specific videos, following a Hong Kong court order.
What Happened: YouTube, a subsidiary of Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), will be restricting access to 32 video links in Hong Kong, as per a court ruling. The videos contain content that has been deemed inappropriate by the Hong Kong government, reported Reuters.
The prohibited content includes a protest anthem called &#8220;Glory to Hong Kong,&#8221; which the court believes could be used by dissidents to incite secession.
YouTube expressed its disappointment with the court&#8217;s decision, stating that it could raise doubts about Hong Kong&#8217;s commitment to fostering a digital economy and maintaining a business-friendly environment. The company also mentioned that it is considering its options for an appeal.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38818809/meme-stock-surge-bothers-former-sec-chair-as-gamestop-amc-shares-rise-nearly-80-on-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meme Stock Surge &#8216;Bothers&#8217; Former SEC Chair As GameStop, AMC Shares Rise Nearly 80% On Tuesday: &#8216;A Lot Closer To Gambling…Certainly Not Investing&#8217;</a>
The ban will be implemented immediately for viewers in Hong Kong, and the affected videos will eventually be removed from Google Search in the region.
Why It Matters: This move by YouTube is part of a larger trend of tech companies facing challenges related to content censorship and free speech. In April, Elon Musk engaged in a <a href="https://www.benzinga.com/markets/equities/24/04/38477389/elon-musk-take-fight-for-free-speech-abroad-feuds-with-australia-and-brazil-over-content-restric">free speech debate</a> with the governments of Brazil and Australia over their content restrictions. Critics argued that Musk was empowering extremists by selectively challenging cases while complying elsewhere.
Meanwhile, the proposed TikTok ban bill in the U.S. has raised concerns about the potential infringement on the <a href="https://www.benzinga.com/news/24/04/38353060/us-tiktok-ban-bill-would-trample-on-free-speech-rights-of-170m-americans-says-social-media-giant">free speech rights</a> of American users. TikTok has criticized the bill, stating that it would trample the free speech rights of 170 million Americans.
Read Next: <a href="https://www.benzinga.com/insights/options/24/05/38791263/check-out-what-whales-are-doing-with-pltr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Check Out What Whales Are Doing With PLTR</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Google To Comply With Court Order Banning Protest Anthem That Infuriated China  — 'Glory To Hong Kong' To Be Taken Down From YouTube

Google&#8216;s parent company, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), is making significant strides in artificial intelligence, according to a top analyst.
What Happened: Gene Munster, a tech analyst at Deepwater Asset Management, shared his insights on <a href="https://www.benzinga.com/news/24/05/38826439/at-google-io-2024-sundar-pichai-and-team-announces-new-gemini-models-project-astra-ai-fraud-protecti">Google&#8217;s I/O 2024</a> keynote in a recent post on X. Munster highlighted three key takeaways from the event.
Firstly, Munster noted that Google is approximately six months behind OpenAI in terms of AI development, but is still about five years ahead of the rest of the industry. He observed that Google&#8217;s AI progress is evident in its generative and agentic AI technologies. 
He wrote, &#8220;They&#8217;re about 6 months behind OpenAI and about 5 years ahead of everyone else.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/05/38806678/elon-musk-shrugs-off-openais-latest-announcement-after-x-user-says-that-99-of-the-economy-will-be-ai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Shrugs Off OpenAI&#8217;s Latest Announcement After X User Says That 99% Of The Economy Will Be AI Chatbots Talking To Each Other: &#8216;Not At This Ridiculously Slow Bit Rate&#8217;</a>
Secondly, Munster pointed out that Google is set to roll out its AI, Gemini, across its entire product lineup, including Search, Photos, Workplace, Gmail, Android, and cameras. This move aligns with Google&#8217;s 2017 declaration of becoming an AI-first company.
Lastly, Munster addressed the potential impact of generative search on Google&#8217;s advertising business. He mentioned that Google is introducing AI Overview, a revamped version of the Search Generative Experience, to all U.S. Google Search users. Despite this significant rollout, Munster noted that Google has not provided specific details on how it plans to monetize this feature.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Three takeaways from the <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> I/O Keynote: 1) They&#39;re about 6 months behind OpenAI and about 5 years ahead of everyone else. What they showed today had all the markings of transformation but most were recorded demos versus OpenAI which showed live demos. The bottom line is…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1790490989523529993?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: The I/O Keynote follows a series of significant developments at Google. Just a day before the I/O Keynote, Munster had predicted that OpenAI could pose a significant challenge to <a href="https://www.benzinga.com/news/24/05/38806462/googles-search-business-could-be-challenged-by-openai-says-gene-munster-its-a-function-of-time">Google&#8217;s search business</a>. Despite this, the I/O Keynote suggests that Google is making substantial progress in the AI space, potentially strengthening its position against OpenAI.
Moreover, the I/O Keynote also aligns with the expectations of analysts like Justin Patterson who anticipated that the event would reinforce Alphabet&#8217;s meaningful scale and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38825276/google-io-2024-to-spotlight-ai-innovations-and-new-monetization-opportunities-analy">create new monetization opportunities</a> through AI innovations. The widespread rollout of Gemini and the AI Overview feature are in line with this expectation, indicating that Google is actively pursuing new monetization strategies.
Read Next: <a href="https://www.benzinga.com/news/24/05/38689467/elon-musk-isnt-sure-apples-showed-its-entire-30b-r-d-prowess-with-new-ipads-maybe-they-have-some-sec?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Isn&#8217;t Sure If Apple Showed Its Entire $30B R&amp;D Prowess With New iPads: &#8216;Maybe They Have Some Secret Products…&#8217;</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Google Is 6 Months Behind ChatGPT-Parent OpenAI In Artificial Intelligence But 'About 5 Years Ahead Of Everyone Else,' Says Gene Munster

Video-sharing platform Rumble Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) reported first-quarter financial results after the <a href="https://www.benzinga.com/earnings">market close Tuesday</a>.
Here are the key highlights.
Rumble&#8217;s Q1 Report: Rumble reported first-quarter revenue of $17.7 million, up 1% year-over-year. The revenue total missed a Street consensus estimate of $18.3 million, according to <a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">data from Benzinga Pro.</a>
The company reported a loss of 21 cents per share for the first quarter, missing a Street consensus estimate of a loss of 19 cents per share.
Rumble had 50 million average global monthly active users (MAUs) in the first quarter, making it the ninth consecutive quarter of 40 million or more average global MAUs on the platform. The figure was down from 67 million global MAUs in the fourth quarter. A total of 35 million MAUs were based in the United States and Canada in the quarter. 
The average minutes watched per month totaled 8.6 billion in the first quarter, down from 10.5 billion in the fourth quarter.
Rumble said it completed its "foundational product portfolio" with Rumble Video, Rumble Advertising Center, Rumble Studio and Rumble Cloud.
"Most impressive during this first quarter was our team's diligent focus on the execution to continue building our foundation – Rumble's portfolio of four captive products that are fully functional revenue drivers," Rumble CEO Chris Pavlovski said.
The company ended the first quarter with $183.8 million in cash.
Related Link: <a href="https://www.benzinga.com/trading-ideas/previews/24/05/38801517/rumble-q1-earnings-preview-analyst-estimates-cloud-advertising-platform-monetization-effor">Rumble Q1 Earnings Preview: Analyst Estimates, Cloud &amp; Advertising Platform Monetization Efforts</a>
What's Next For Rumble: The company announced a strategic partnership with Barstool Sports that will include the full content library of Barstool Sports creators. Rumble Cloud services will be used to support Barstool in a mutual advertising deal.
Rumble also highlighted that it filed a second antitrust lawsuit against Google, a unit of Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>). The company accused Google of a monopoly of the online advertising market and is seeking damages of $1 billion. This is a separate lawsuit from one filed in January 2021 and is expected to go to trial in May 2025.
Rumble said it will begin reporting several new metrics later this year including average revenue per user.
The company is guiding for second-quarter revenue to increase from the first quarter. The company sees its breakeven occurring in 2025.
"With the appropriate user base in place for monetization, we plan on shifting focus to a new metric to closely measure the monetization progress with the planned introduction of ARPU later this year," Pavlovski said. 
"Our management team is focused on providing transparency to the investment community to help evaluate Rumble's performance, and we believe this will be best demonstrated through ARPU."
RUM Price Action: Rumble shares are down 2.94% to $6.94 in after-hours trading Tuesday versus a 52-week trading range of $3.33 to $11.25.
Read Next: <a href="https://www.benzinga.com/news/24/05/38807076/trump-media-firms-tech-ad-partner-rumble-sues-google-for-1b-over-alleged-ad-monopoly">Trump Media Firm&#8217;s Tech-Ad Partner Rumble Sues Google For $1B Over Alleged Ad Monopoly</a>
Photo via Shutterstock.

This lawsuit is separate and distinct from the self-preferencing lawsuit that was filed in January 2021, which remains in discovery with trial scheduled for May 2025.

Legal

Rumble Says Filed Second Antitrust Lawsuit On May 13, 2024, Against Google Based On Google's Monopolization Of Online Advertising Market, With Damages Estimated In Excess Of $1B (Before Trebling)

Alphabet Inc.'s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;Google&nbsp;today made several announcements around Gemini and its upcoming AI-powered features at its annual I/O developer conference.
What Happened: A year after announcing Gemini, Sundar Pichai-led tech giant revealed that over one and half million developers are using Gemini to build and debug code, get insights and build AI applications
AI Overviews:&nbsp;AI Overviews, a revamped version of Search Generative Experiences will be launched starting today in the United States. AI Overviews has specifically been designed for complex questions that may require multi-step reasoning.
This can be used to perform several tasks such as creating diet plans, organizing trips&nbsp;and&nbsp;more.
AI Overviews will also enable you to use videos to ask questions, be it for troubleshooting something or learning about something&nbsp;that is&nbsp;in front of you.
See Also:<a target="_blank" href="https://www.benzinga.com/news/24/05/38808197/despite-microsofts-13b-funding-openai-snubs-top-investor-launches-chatgpt-app-for-apple-macs-ahead-o" rel="noreferrer noopener">&nbsp;Despite&nbsp;Microsoft&#8217;s&nbsp;$13B Funding, OpenAI Snubs Top Investor: Launches ChatGPT App For Apple Macs Ahead Of&nbsp;Windows</a>
Google Photos:&nbsp;Google Photos is getting a new feature, Ask Photos. The Ask Photos feature will allow users to enter a question such as&nbsp;"What's my license plate&nbsp;number"&nbsp;and&nbsp;Google Photos will search in your photos and library and share the answer&nbsp;with you.
Google claimed that six billion photos and videos each day are uploaded on Google Photos each day. Gemini can even create summaries and create a package containing photos and videos.
Ask Photos will be rolled out this summer, with more features&nbsp;being added&nbsp;later.
Google Workspace:&nbsp;Gemini&nbsp;will now be able to&nbsp;summarize your emails and create highlights from meetings recorded on Google Meet.&nbsp;It will also allow you&nbsp;to quickly draft&nbsp;replies for emails&nbsp;using a prompt.
Subscribe to the<a target="_blank" href="https://bztechtrends.beehiiv.com/subscribe" rel="noreferrer noopener">&nbsp;Benzinga Tech Trends newsletter</a>&nbsp;to&nbsp;get&nbsp;all the latest tech developments&nbsp;delivered&nbsp;to your inbox.
Audio Overview:&nbsp;NotebookLM has received a new feature, Audio Overview, which allows you to use files to create a personalized audio guide using the inputs. The Audio Overview feature will also&nbsp;allow&nbsp;the users to pause the guide and ask the AI questions&nbsp;to better understand the topic.
AI Agents:&nbsp;Google also revealed that it is working on making AI more helpful for users. Users&nbsp;will be able to&nbsp;plan their travel, find receipts, search for their phone&nbsp;and&nbsp;even arrange product returns easily.
New Gemini Models:&nbsp;Gemini 1.5 Pro and Flash are now accessible worldwide, spanning&nbsp;more than&nbsp;200 countries and territories. The pricing&nbsp;is established&nbsp;at $7 for Gemini 1.5 Pro, $3.50 for a maximum of 128K tokens, and Flash&nbsp;is offered&nbsp;at $0.35 for 1 million tokens. Gemini 1.5 Flash is a lightweight model when compared to Gemini Pro. It has&nbsp;been designed&nbsp;to be cost-efficient and fast.
Project Astra:&nbsp;Google DeepMind CEO Demis Hassabis announced Project Astra, a universal AI agent for everyday life. Hassabis claims this is why Gemini will be multimodal as it will enable it to be naturally conversational. According to him, the conversations will feel more natural with Astra.
Music AI Sandbox:&nbsp;Google has also announced a generative music model, the Music AI Sandbox, which has reportedly been developed with songwriters, musicians&nbsp;and&nbsp;producers.
Veo:&nbsp;After generative music, Google has announced Veo, a generative video model, that can create Full HD videos in different cinematic styles using text, image&nbsp;and&nbsp;video prompts. You can also use Veo to further edit the videos using additional prompts. Veo can be used in VideoFX, allowing creators and editors a new way of making videos.
Trillium:&nbsp;Google announced its sixth-gen Tensor Processing Unit (TPU), Trillium, which Pichai said is 4.6 times better than its predecessor. It will be available to cloud customers starting in late 2024.
Google for Workspaces:&nbsp;Side Panel will be available for Google for Workspaces next month. The Gemini-powered Side Panel comes with features such as "help me write" and "help me visualize".
Gemini will also be integrated with Google Meet and is being expanded to 68 languages.
Gmail Mobile:&nbsp;Gmail mobile is getting three new features, which include a summarize button that creates a mobile card from long texts, a Q&amp;A feature to get quick answers using your inbox&nbsp;and&nbsp;suggested replies, which are based on existing email threads.
AI Teammate:&nbsp;An&nbsp;AI Teammate is a Gemini-powered teammate who can be assigned a specific role or a job to make it efficient for the company. It can be assigned to monitor projects and answer questions based on these inputs.
Gems:&nbsp;Users can create "Gems" on the Gemini app. Gems are personal experts that can be created on Gemini to perform actions tailored to whatever you need. Gems will be rolled out in the coming months.
AI Fraud Detection:&nbsp;Google is also working on a new call monitoring feature that will help prevent fraud. This feature will warn a person if the person they are talking to is attempting to fraud them. It will warn users about potential scams and advise them against sending money to unknown callers.
Check out more of Benzinga&#8217;s Consumer Tech coverage by<a href="https://www.benzinga.com/topic/consumer-tech"> following this link</a>.
Read Next:<a href="https://www.benzinga.com/news/24/05/38695318/from-beginner-to-enthusiast-top-5-free-harvard-courses-to-spark-your-ai-journey-with-machine-learnin?itm_source=parsely-api"> From Beginner To Enthusiast: Top 5 Free Harvard Courses To Spark Your AI Journey With Machine Learning</a>
Photo courtesy: Google

At Google I/O 2024, Sundar Pichai And Team Announce New Gemini Models, Project Astra, AI Fraud Protection And More: Here's All You Need To Know

Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is shutting down Workplace, a version of Facebook tailored for business communication and team collaboration.
Meta plans to maintain normal operations on Workplace until&nbsp;the start of&nbsp;September 2025, followed by a read-only mode until May 2026, before decommissioning the service&nbsp;completely, reported&nbsp;<a target="_blank" href="https://techcrunch.com/2024/05/14/meta-is-shutting-down-workplace-its-enterprise-communications-business/" rel="noreferrer noopener">TechCrunch</a>.
Facebook once harbored aspirations to dominate enterprise communication, but Meta, its parent company, is now closing a significant chapter in that narrative.&nbsp;
The report further mentioned the decision comes after Workplace&#8217;s ten-year stint, during which it aimed to introduce a new revenue stream for Facebook. However, it struggled to compete with platforms like Salesforce, Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) Slack and Microsoft Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Teams.
Zoom&nbsp;Video Communications&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) issued a statement today that Workvivo was named&nbsp;as&nbsp;Meta&#8217;s only preferred migration partner for its customers&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38823215" rel="noreferrer noopener">as it retires Workplace from Meta.</a>
Workvivo, acquired by Zoom in 2023, operates as another enterprise communication platform.
John Goulding, CEO and founder of&nbsp;Workvivo,&nbsp;said, &#8220;We know that the news today may be disruptive for Workplace from Meta customers, but we&#8217;re so excited about the opportunity to support and help them. Meta has made a huge impact in this market, and we believe that Workvivo is the natural choice for Workplace from Meta customers to transition their employee experience platform.&#8221;
Related Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38737635/french-ai-startup-founded-by-former-google-and-meta-researchers-is-up-to-challenge-silicon-valley-do" rel="noreferrer noopener">French AI Startup, Founded By Former Google And Meta Researchers, Is Up To Challenge Silicon Valley Dominance</a>
The closure&#8217;s impact on employees remains uncertain as Meta has not disclosed specific details.
Meta stock has gained more than 97% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Vanguard Communication Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) and&nbsp;Communication Services Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>).
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38783794/amazon-pours-1-3b-investment-into-french-operations-report" rel="noreferrer noopener">Amazon Pours ~$1.3B Investment Into French Operations:&nbsp;Report</a>
Price Action: META shares are trading higher by 0.63% at $470.96 at&nbsp;the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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Meta Pulls Plug On Enterprise Communication Tool Workspace After 10 Years

KeyBanc analyst Justin Patterson reiterated a Buy rating on Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)<a href="https://www.benzinga.com/quote/GOOGL/analyst-ratings"> with a price target of $200.</a>
The analyst expects Google&#8217;s annual developer event, Google I/O 2024, to reinforce his thesis that Alphabet has a meaningful scale and AI creates new monetization opportunities. He hopes to see Gemini incorporated across Google products.
Also&nbsp;Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38796315/ai-focus-at-google-io-analyst-anticipates-groundbreaking-announcements-in-search-mobile-tech" rel="noreferrer noopener">AI Focus At Google I/O: Analyst Anticipates Groundbreaking Announcements In Search, Mobile Tech</a>
While audio and visual recognition capabilities may receive increased scrutiny after OpenAI&#8217;s Monday event, he is more focused on the Android device ecosystem.&nbsp;
Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and&nbsp;Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) have already signaled how AI is creating new opportunities in mobile and wearables (both across devices and underlying services), and Patterson would be surprised if Google&nbsp;were left&nbsp;out of the conversation.
From his perspective, an updated Google AI assistant code-named Pixie is the main item to watch for as it could open up new products and services across Android devices.&nbsp;
Patterson expects to see updates on Android 15, Wear OS, search generative experience (SGE), and Cloud, with the overarching theme centering on Gemini-powered services. Patterson expects to wait to hear an update on Apple licensing.
The analyst noted Alphabet as a consistent revenue growth compounder in the digital advertising space due to its breadth of properties that serve two billion+ users. Further, he said&nbsp;an opportunity for more value could be realized&nbsp;through monetizing non-advertising services such as Cloud, hardware, and the Other Bets portfolio (most notably Waymo and Verily).&nbsp;
Patterson projects second-quarter revenue and EPS of $83.91 billion and $1.84, respectively.
Price Action: GOOGL shares traded lower by 0.02% at $169.08 at the last check Tuesday.
Photo via Shutterstock

Analyst Color

Price Target

Reiteration

Analyst Ratings

AAPL

Google I/O 2024 To Spotlight AI Innovations And New Monetization Opportunities, Analyst Says

INTC

NVDA

Google Unveils AI Chip Trillium, 6th Generation Tensor Processing Unit

Alphabet CEO Announces Launch Of AI Overviews In Search Across U.S. This Week

ADBE

Google DeepMind CEO Unveils Veo Generative Video AI Model

Alphabet Introduces Music AI Sandbox, A Comprehensive Suite Of Music AI Tools, At Google Event

SNAP

Google DeepMind CEO Unveils Project Astra Prototype Analyzing And Conversing About World Through Smartphone Camera At Google Event

Google Announces New Search Engine Version Powered By Generative AI

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is leveraging artificial intelligence (AI) advancements to enhance user <a href="https://www.benzinga.com/topic/artificial-intelligence">experiences and drive innovation</a>. 
A recent demonstration by OpenAI, showcasing the power of virtual assistants and multi-modal AI on smartphones, has sparked <a href="https://www.benzinga.com/quote/AAPL/news">excitement among investors</a>.
This demonstration not only highlights the potential for developers to create groundbreaking apps but also underscores Apple&#8217;s position as a leader in AI integration. As Apple continues to explore new avenues for growth and differentiation, investors are closely watching how these developments will shape the company&#8217;s future trajectory.
<h3 class="wp-block-heading">The Apple Analyst</h3>
BofA Securities&#8217; analyst Wamsi Mohan maintained his Buy rating on Apple stock with price target of $230 a share. The target price implies a 23.5% upside from the time of review.
He recently shared key insights on Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), shedding light on the impact of OpenAI&#8217;s latest developments on iOS and the implications for Apple stock investors.
Also Read: <a href="https://www.benzinga.com/news/earnings/24/05/38808250/apples-biggest-iphone-assembler-posts-72-profit-surge-even-as-revenue-takes-hit-from-weaker-consume">Apple&#8217;s Biggest iPhone Assembler Posts 72% Profit Surge Even As Revenue Takes Hit From Weaker Consumer Electronics Demand</a>
<h3 class="wp-block-heading">The Apple Thesis</h3>
According to Mohan, the recent OpenAI demo showcased the potential for developers to leverage virtual assistants, creating a myriad of innovative apps. While on-device functionality may be limited compared to cloud-based AI, there are various monetization opportunities such as ads and subscription fees. 
Apple is expected &#8220;to be a net beneficiary of AI at the edge.&#8221;
<h3 class="wp-block-heading">Disruptive Nature of AI</h3>
OpenAI&#8217;s demo highlighted the capabilities of AI at the edge, particularly on Macs and iPhones, showcasing the seamless integration of voice, text, and images. This demonstration emphasized the potential for AI to enhance productivity significantly. 
Mohan believes that Apple stands to benefit from GenAI at the edge, potentially increasing gross margins and driving momentum in Services.
The demo also illustrated real-time language translation, narration, and tutoring capabilities, mirroring the work of skilled professionals like translators and educators. This opens up exciting opportunities for developers to create AI-driven apps. 
Mohan notes that while OpenAI may not follow Apple&#8217;s licensing model with Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) dba Google, alternative monetization methods could be explored.
<h3 class="wp-block-heading">On-Device vs. On-Cloud AI</h3>
With OpenAI&#8217;s GPT-4 model supporting up to 1 trillion parameters compared to GPT-3&#8217;s 175 billion, the richness of the AI experience is best experienced on the cloud. However, on-device models can still handle a substantial number of parameters. 
Apple&#8217;s Siri currently uses a mix of on-device processing and offloading queries to Apple servers.
<h3 class="wp-block-heading">Investment Rationale for Apple Stock</h3>
BofA Securities maintains a Buy rating on Apple based on several factors:
<ul>
<li>Anticipated strong iPhone upgrade cycle in F25 driven by Gen AI features,</li>
<li>Higher growth in Services revenue,</li>
<li>Increased margins from internally developed silicon,</li>
<li>Continuing capital returns,</li>
<li>AI features attract higher institutional ownership, and</li>
<li>Manageable legal risks.</li>
</ul>
Mohan&#8217;s analysis suggests a positive outlook for Apple, driven by advancements in AI and the potential for innovative app development. Investors are advised to consider these factors when evaluating their investment decisions in Apple stock.
AAPL Price Action: Apple stock was trading at $186.85 a share at the time of publication.
Read Next: <a href="https://www.benzinga.com/news/24/05/38808197/despite-microsofts-13b-funding-openai-snubs-top-investor-launches-chatgpt-app-for-apple-macs-ahead-o">Despite Microsoft&#8217;s $13B Funding, OpenAI Snubs Top Investor &#8211; Launches ChatGPT App For Apple Macs Ahead Of Windows</a>

Long Ideas

AI On iOS To 'Drive Higher Institutional Ownership' Of Apple's iPhone, Analyst Sees 23.5% Upside

U.S. auto safety regulators are investigating Alphabet Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Waymo self-driving vehicles following reports of potential traffic safety law violations.
The National Highway Traffic Safety Administration (NHTSA) has commenced the inquiry into around 444 Waymo vehicles, prompted by 22 incidents, including 17 collisions. 
These incidents involved the vehicles disobeying traffic safety control devices and exhibiting unexpected behavior near these devices, leading to crashes, Reuters reported.
The agency&#8217;s probe is part of a broader examination into <a href="https://www.benzinga.com/government/24/01/36527695/gms-cruise-offers-75k-settlement-to-wrap-up-regulatory-probe-into-san-francisco-av-accident">self-driving vehicle performance</a>, including General Motors Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) Cruise and Amazon.com Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) <a href="https://www.benzinga.com/24/05/38785340/nhtsa-opens-probe-into-amazons-500-zoox-vehicles-over-sudden-braking-concerns">Zoox</a>.
Waymo, in response, emphasized its safety record and commitment to transparency, expressing readiness to collaborate with NHTSA.
In February, Waymo recalled 444 self-driving vehicles due to software errors leading to inaccurate predictions of towed vehicle movements, following two minor collisions in Arizona. 
Also Read: <a href="https://www.benzinga.com/news/24/05/38732271/google-parent-alphabet-eyes-hubspot-acquisition-bloomberg">Google Parent Alphabet Eyes HubSpot Acquisition: Bloomberg</a>
NHTSA emphasized that all 22 incidents either involved self-driving crashes or driving behavior potentially violating traffic laws, such as collisions with stationary objects and entering opposing lanes.
NHTSA&#8217;s investigation will focus on assessing Waymo&#8217;s 5th Generation automated driving system performance in detecting and responding to traffic control devices and avoiding collisions. 
This scrutiny marks the initial phase before potential recalls if deemed necessary for safety. Waymo has expanded its autonomous services, offering driverless robotaxi services in Los Angeles and commencing services for employees in Austin, Texas.
Despite these challenges, Waymo stated it currently provides over 50,000 weekly trips for riders in demanding environments, showcasing ongoing efforts to enhance autonomous transportation.
Alphabet stock has gained more than 45% in the last 12 months. Investors can gain exposure to the stock via Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) and IShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>).
Price Action: GOOGL shares are up 0.26% at $169.58 at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/news/24/05/38737635/french-ai-startup-founded-by-former-google-and-meta-researchers-is-up-to-challenge-silicon-valley-do">French AI Startup, Founded By Former Google And Meta Researchers, Is Up To Challenge Silicon Valley Dominance: Report</a>
Photo: Shutterstock

Government

Regulations

AMZN

Alphabet's Autonomous Vehicle Unit Waymo Faces Scrutiny Over Traffic Violations

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust </h3>
The SPY&nbsp;(ARCA: SPY) is currently trading near the level of 521.85. For the bulls, a move above 522.84 is essential. Sustaining this level could drive the price up to 523.76. Holding above 523.76 during the regular session could lead to a further rise to 525.26. The ultimate bull target for SPY today is 526.31.
Conversely, if 521.85 fails to act as support, the bears could push the price down to 520.67. If selling pressure increases, the next target is 519.71. A breakdown below 519.71 with heavy selling pressure could see a drop to 518.76. In an aggressive sell-off, the low bear target for the day is 518.04.
<h3>Invesco QQQ Trust Series 1</h3>
The QQQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) is currently trading around the key level of 442.53. Bulls need to maintain support above this level. If successful, the price could climb to 444.09. Sustained buying pressure might push the price to 445.09. A strong session could see the price testing 446.51. The high bull target for QQQ today is 447.73.
If the QQQ struggles to stay above 442.53, bears might take control and push the price down to 441.56. Further weakness could drive the price to 440.78. Persistent selling pressure may result in a test of 440.00. If this level fails, the low bear target for the day is 438.89.
<h3>Apple Inc. </h3>
Apple (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is currently trading around 186.99. Bulls need to defend this level and aim for a rally to 187.50. Continued bullish momentum could drive the price to 188.20. If bulls maintain their strength, we could see a push to the high bull target of 188.56.
Should 186.99 fail to hold as support, a test of 186.35 is likely. Continued selling could drive the price down to 185.86. Persistent selling pressure might bring the price to 184.96. A break below this level could see Apple reaching the low bear target of 184.59.
<h3>Microsoft Corp.</h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is currently trading around 413.14. Bulls need to hold this level and rally to 414.56, establishing it as support. If this level holds, the price could rise to 416.32. Sustained buying could push the price to the high bull target of 419.25.
If 413.14 does not hold as support, bears might test 411.72. A break below this level could lead to further downside to 410.64. Continued bearish pressure might push the price to 409.69. The low bear target for Microsoft today is 408.46.
<h3>NVIDIA Corporation</h3>
NVIDIA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is currently trading around 898.13. Bulls aim to push the price up to 903.25 and establish this as support. Continued buying could drive the price to 917.98. A strong rally could see the price reaching 922.67. The high bull target for NVIDIA today is 928.47.
If 898.13 fails to hold, bears might test 890.55. A break below this level with selling pressure could see the price drop to 882.97. Continued weakness might test 877.25. The low bear target for NVIDIA today is 865.62.
<h3>Alphabet Inc Class A</h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is currently trading around 169.34. Bulls need to maintain support at this level and push higher to 171.14. Continued bullish momentum could drive the price to the high bull target of 172.28.
If 169.34 fails as support, bears might push the price down to 167.04. A break below this level could lead to further downside to 165.41. Heavy selling might drive the price to the low bear target of 163.79.
<h3>Meta Platforms Inc</h3>
Meta (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is trading around 465.81. Bulls need to hold this level as support and aim for a rally to 470.28. A strong buy-side auction could drive the price to 472.19. Continued bullish momentum could push the price to the high bull target of 477.50.
If 465.81 fails as support, bears might push the price down to 464.57. Continued selling pressure could see the price drop to 462.20. A break below this level could see the price fall to the low bear target of 458.59.
<h3>Tesla Inc.</h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading around 169.70. Bulls need to push the price up to 172.61. Continued buying could drive the price to 176.34. A bullish rally might see Tesla testing higher at 179.79. A strong buy-side session could push the price to the high bull target of 182.53.
If 169.70 fails as support, bears might test lower at 166.89. Continued selling might bring the price down to 164.87. A break below this level could see the price drop to the low bear target of 162.32.
Final Word:&nbsp; Today&#39;s trading session is poised to be significant with the release of the April PPI data at 8:30 AM ET. Additionally, the Treasury will conduct a 52-week Bill Auction at 11:30 AM ET. Market participants should also pay attention to speeches from Federal Reserve officials Lisa Cook at 9:10 AM ET and Jerome Powell at 10 AM ET. These events could cause increased volatility and provide trading opportunities. Given the potential for market-moving news, traders should stay alert to sudden price changes and be prepared to adjust their strategies accordingly. Monitoring volume and market reactions closely will be essential to navigate today&#39;s trading environment. Trade safely, stay informed, and good luck!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

TSLA

Market Clubhouse Morning Memo - May 14th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

Zscaler, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>)&nbsp;on Tuesday&nbsp;disclosed significant additions to its AI Data Protection Platform&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38807519/zscaler-unveils-ai-innovations-to-power-the-industrys-most-comprehensive-data-protection-platform" rel="noreferrer noopener">that leverages security cloud and AI.</a>&nbsp;
The latest enhancements to Zscaler&#8217;s AI Data Protection Platform include new, real-time&nbsp;Email Data loss prevention&nbsp;for securing sensitive data across corporate email, including&nbsp;Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Microsoft 365 and&nbsp;Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Gmail, some of the most problematic insider threat vectors.
The platform also includes natively integrated&nbsp;Data Security Posture Management (DSP) and context-rich&nbsp;GenAI App Security, among others.
&#8220;There is an immediate and critical need for a consolidated approach to data protection that can secure all types of data, in all locations, while streamlining security operations,&#8221; said Moinul Khan, Vice President and General Manager, Data&nbsp;Protection, Zscaler.
While reporting second-quarter results, Zscaler said it received the highest scores across 12 criteria,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/g37405631/zscaler-reports-second-quarter-fiscal-2024-financial-results" rel="noreferrer noopener">including Data Protection, Scale, and Shadow-IT detection.&nbsp;</a>
Zscaler said it analyzes and harnesses knowledge from over 500 trillion data points daily across users, devices, networks, and applications.&nbsp;
Under the&nbsp;latest development, additional platform enhancements include Consolidated&nbsp;Unified SaaS Security and expanded&nbsp;AI Auto Data Discovery.&nbsp;This&nbsp;encompasses all data-at-rest locations, including Endpoint, SaaS, and Public Cloud Infrastructure.&nbsp;
This expansion streamlines legacy data protection programs by reducing complexity and enhancing efficiency.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, ZS stock has gained over 44% in the past year. Investors can gain exposure to the stock via&nbsp;Spear Alpha ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRX#NASDAQ">SPRX</a>) and&nbsp;Global X Cybersecurity ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUG#NASDAQ">BUG</a>).
Price Action: ZS shares are trading lower by 0.49% to $174.15 premarket at last check Tuesday.
Photo by VideoFlow via Shutterstock

SPRX

Worried About Data Loss in Emails? Zscaler's Latest Innovations Have You Covered - Read How

The Nasdaq 100 closed higher by around 0.2% on Monday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Alphabet</h3>
<ul>
<li>The Trade: Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Director John L Hennessy <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 1,500 shares</a> at an average price of $168.08. The insider received around $252,123 from selling those shares.</li>
<li>What's Happening: has initiated legal proceedings against tech giant, Google, accusing it of monopolistic practices in its digital advertising products. Rumble is seeking damages in excess of $1 billion.</li>
<li>What Alphabet Does: Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary.</li>
</ul>
Have a look at our <a href="ps://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">First Solar</h3>
<ul>
<li>The Trade: First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) Director Richard D Chapman s<a href="https://www.benzinga.com/sec/insider-trades/">old a total of 7,150 shares</a> at an average price of $190.69. The insider received around $1.36 million from selling those shares.</li>
<li>What's Happening: On May 1, First Solar reported upbeat results for the first quarter.</li>
<li>What First Solar Does: First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects.</li>
</ul>
<h3 class="wp-block-heading">Chevron</h3>
<ul>
<li>The Trade: Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) Director Enrique Hernandez Jr <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 2,549 shares</a> at an average price of $165.24. The insider received around $421,207 from selling those shares.</li>
<li>What's Happening: On May 13, Mizuho analyst Nitin Kumar maintained Chevron with a Buy and raised the price target from $200 to $205.</li>
<li>What Chevron Does: Chevron is an integrated energy company with exploration, production, and refining operations worldwide.</li>
</ul>
<h3 class="wp-block-heading">Amazon.com</h3>
<ul>
<li>The Trade: Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Director Jonathan Rubinstein <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 5,264 shares</a> at an average price of $190.00. The insider received around $1 million from selling those shares.</li>
<li>What's Happening: Amazon.com is reportedly making a significant investment exceeding €1.2 billion ($1.3 billion) in its French operations, aiming to create over 3,000 permanent positions within the country.</li>
<li>What Amazon.com Does: Amazon is the leading online retailer and marketplace for third party sellers.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/05/38807221/home-depot-paysafe-and-3-stocks-to-watch-heading-into-tuesday">Home Depot, Paysafe And 3 Stocks To Watch Heading Into Tuesday</a>

Short Ideas

Insider Trades

Pre-Market Outlook

FSLR

Amazon, Alphabet And 2 Other Stocks Insiders Are Selling

Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) is set to lay off hundreds of corporate employees and relocate others to its main corporate hubs.
What Happened: Walmart, the largest employer in the U.S. with 1.6 million workers, is downsizing its corporate workforce and asking remote employees to move to its main corporate hubs, <a href="https://www.wsj.com/business/retail/walmart-to-lay-off-and-relocate-workers-d1c909a7?mod=latest_headlines">reported</a> The Wall Street Journal, citing&nbsp;people familiar with the matter. 
The affected employees are based in smaller offices in Dallas, Atlanta, and Toronto. They are being asked to relocate to Walmart&#8217;s corporate headquarters in Bentonville, Ark., Hoboken, N.J., or Northern California.
Walmart will still allow partial remote work, but employees are expected to be in the office for the majority of their working hours. The move comes as Walmart, like many other companies, is reducing its remote work flexibility and consolidating its smaller offices.
The retail giant has been working to cut costs in some areas while prioritizing spending elsewhere. Last month, Walmart announced the closure of all 51 of its health clinics, which it had opened over the past five years in an attempt to expand its healthcare business.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38777196/amid-nvidia-craze-jim-cramer-sees-a-chip-stock-not-on-anyones-radar-about-to-break-out-heres-wha?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Nvidia Craze, Jim Cramer Sees A Chip Stock &#8216;Not On Anyone&#8217;s Radar&#8217; About To Break Out: Here&#8217;s What He Said</a>
Why It Matters: This move by Walmart follows a series of strategic decisions made by the retail giant. In April, Walmart announced the <a href="https://www.benzinga.com/news/large-cap/24/04/38529328/walmart-to-shut-down-all-clinic-locations-amid-rising-costs-what-it-means-for-your-healthcare">closure of all its healthcare clinics</a> due to rising costs, while its pharmacies and vision centers remained unaffected.
On the other hand, Walmart has been making <a href="https://www.benzinga.com/news/24/05/38543045/walmart-takes-bold-step-with-bettergoods-food-expansion">bold moves in other areas</a>, such as its private food brand, Bettergoods, which was launched in May, marking its largest private brand food launch in 20 years. This move aimed to make quality, trend-forward, and chef-inspired food approachable and affordable, with most items priced under $5.
Walmart&#8217;s recent decision to cut jobs and relocate workers aligns with similar moves by other major companies. In April, Google&#8216;s parent company Alphabet Inc. <a href="https://www.benzinga.com/news/24/04/38518970/google-announces-layoffs-across-key-teams-as-it-gears-up-for-io-developer-conference">announced layoffs across key teams</a> to align resources with its most significant product priorities and reduce bureaucracy.
Meanwhile, electric vehicle maker Rivian Automotive Inc also announced <a href="https://www.benzinga.com/news/24/04/38307316/after-teslas-cost-cutting-rivian-trims-workforce-again-this-year-amid-profitability-push">workforce cuts in April</a>, following a similar move by Tesla Inc, as part of its push for profitability.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38753994/cardano-founder-charles-hoskinson-says-voting-for-biden-is-a-vote-against-american-crypto-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cardano Founder Charles Hoskinson Says Voting For Biden Is A &#8216;Vote Against American Crypto Industry&#8217;</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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RIVN

Walmart To Cut Hundreds Of Corporate Jobs, Relocate Workers To Central Hubs

Video sharing platform, Rumble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) has initiated legal proceedings against tech giant, Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), accusing it of monopolistic practices in its digital advertising products. Rumble is seeking damages in excess of $1 billion.
What Happened: Rumble, the <a href="https://www.benzinga.com/general/social-media/24/02/36896510/truth-social-testing-video-streaming-could-trumps-company-hurt-its-partner-rumble">technology and advertising partner</a> for Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), alleges Google has monopolized the ad stack by acquiring companies across the chain, Reuters reported on Tuesday. The lawsuit asserts that Google represents both ad buyers and sellers while also controlling the exchange connecting these parties.
Rumble adds that Google has preserved its monopoly by striking a deal with Meta&#8217;s Facebook to prevent it from offering alternatives to Google&#8217;s ad tech ecosystem. Google has denied these allegations, terming them as &#8220;simply wrong&#8221; and asserting that Rumble uses &#8220;dozens&#8221; of competing ad services along with Google&#8217;s ad manager.
The lawsuit was lodged late Monday in the U.S. District Court for the Northern District of California. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38780639/bitcoin-ethereum-dogecoin-trade-mixed-after-turbulent-week-analyst-says-king-crypto-can-ri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Trade Mixed After Turbulent Week: Analyst Says King Crypto Can Rise To $76K L</a>
The U.S. Justice Department also filed a lawsuit against Google last year, alleging abuse of dominance in the digital advertising business and suggesting that Google should be forced to sell its ad manager suite.
Why It Matters: This isn&#8217;t the first time Google has faced legal action over its advertising practices. In February, Google was hit with a <a href="https://www.benzinga.com/news/24/02/37393818/google-faces-2-3b-lawsuit-from-european-media-over-ad-practices">$2.3 billion lawsuit from 32 media groups</a>, including Axel Springer and Schibsted, accusing the tech giant of causing financial losses through its digital advertising practices.
Previously, in January 2021, Rumble sued Google for <a href="https://www.benzinga.com/news/21/01/19115584/youtube-rival-rumble-sues-google-over-alleged-search-ranking-bias-wsj">allegedly rigging its search algorithm</a>s to prioritize YouTube over Rumble in its search results. Rumble also claimed that Google&#8217;s deal to pre-install YouTube on Android devices has unfairly deprived Rumble of viewers.
In June, Rumble announced its intentions to sue Google following a <a href="https://www.benzinga.com/general/entertainment/23/06/32886915/andrew-tates-stream-sparks-rumbles-legal-fight-against-googles-youtube-bias">high-profile live stream by Andrew and Tristan Tate</a>, titled &#8220;Emergency Meeting,&#8221; broadcasted on Rumble. Despite drawing an audience of 500,000 live viewers, a Google search for Tate&#8217;s streaming event led users to a YouTube video, rather than the original Rumble broadcast, sparking accusations of anti-competitive behavior favoring Google-owned YouTube.
Price Action: On Monday, GOOGL closed 0.29% higher at $169.14 while GOOG closed 0.36% higher at $170.90. On the other hand, RUM closed 3.10% higher at $6.980, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38781510/redditors-predict-economic-doom-brace-for-us-collapse-only-time-will-tell-how-bad-it-will-truly-get?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Redditors Predict Economic Doom, Brace For US Collapse: &#8216;Only Time Will Tell How Bad It Will Truly Get&#8217;</a>
Photo: Courtesy Jonny Gios via Unsplash
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Trump Media Firm's Tech-Ad Partner Rumble Sues Google For $1B Over Alleged Ad Monopoly

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I am more confident investing in cryptos as an asset class for the long term. The reason is that the world of cryptocurrency has navigated the fear of being banned. Instead, the centralized and decentralized world seems to be working together, and the launch of the Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) ETF underscores my view. Having said that, I would prefer to stick to top names if I had to select cryptos to buy for the long term.



The focus of this column is on three cryptos to buy and hold for five years (2028) for 10-bagger returns. Knowing the world of cryptos, 10x returns can come earlier. However, it&rsquo;s good to be prudent in terms of expectations.



I would also like to add that I will not allocate more than 15% of my overall investment portfolio towards cryptos. However, even a 15% allocation will have a big impact, since we are talking about 10-bagger returns.



Let&rsquo;s discuss three cryptos to buy and hold through 2028 for multibagger returns potential.



<h2>Bitcoin (BTC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/bitcoin_btc-usd1600-300x169.png" alt="Up trend Technical graph of Bitcoin (BTC-USD) in futuristic concept, BITI ETF is a Bitcoin short fund for investors betting against Bitcoin."><div>Source: Sittipong Phokawattana / Shutterstock.com</div></div>Bitcoin is the blue chip among cryptocurrencies. It&rsquo;s like holding Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) or Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) in the crypto world. With crypto halving done, Bitcoin has trended higher by 42% for year-to-date and trades at $63,000. There are ample catalysts that will ensure that the uptrend sustains for Bitcoin.



In March, Cathie Wood opined that Bitcoin can <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-cathie-wood-cryptocurrency-investors-target-markets-etf-2024-3">trade as high as $3.8 million</a> by 2030. That would imply an upside of nearly 6,000% from current levels. I must add here that Jack Dorsey recently opined that Bitcoin is likely to <a href="https://www.coindesk.com/markets/2024/05/10/former-twitter-ceo-jack-dorsey-says-bitcoin-will-go-beyond-1-million-in-2030/">trade above $1 million by 2030.</a>



Cathie&rsquo;s estimates might be too optimistic, but if we look at a base-case scenario, 20x returns are likely by the end of the decade. There are two reasons for this view.



First, Bitcoin has a limited supply. As crypto adoption increases, the demand-supply scenario will be tight. That will translate into an uptrend. Further, long-term monetary policies will likely be expansionary. That is positive for risky asset classes like cryptocurrencies.



<h2>Ethereum (ETH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/eth1600-300x169.png" alt="Etereum coin is in pocket. Ethereum is a decentralized, open-source blockchain with smart contract functionality. ETH crypto"><div>Source: Thaninee Chuensomchit / Shutterstock.com</div></div>It&rsquo;s worth noting that Bitcoin has trended higher by 40% year-to-date. During the same period, Ethereum (<a href="https://investorplace.com/cryptocurrency/eth-usd/">ETH-USD</a>) has rallied by 25%. The cryptocurrency continues to lag Bitcoin in terms of returns. However, I would not be surprised if Ethereum catches up in the coming years.



When the Bitcoin spot ETF was announced, the cryptocurrency surged higher. I expect a similar scenario for Ethereum with an ETF likely in the coming quarters. Analysts are talking about Ethereum <a href="https://www.westislandblog.com/crypto-analyst-predicts-ethereum-surge-to-15000-by-2025/">trading at $15,000 by 2025.</a> In my view, $10,000 levels are likely next year if the ETF is approved and the crypto bull market sustains.



I would also go back to Vitalik Buterin&rsquo;s view in 2022 that Ethereum <a href="https://cryptoslate.com/vitalik-buterin-considers-ethereum-development-only-55-complete-after-the-merge/">development is 55% complete after the merge.</a> In the next few years, the cryptocurrency will likely surge as the roadmap progresses. Some key impending developments include increasing transaction speed and lowering cost.



<h2>BNB (BNB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/02/bnb-1-300x169.jpg" alt="A Binance Coin sits in front of trading charts. Binance price predictions"><div>Source: Shutterstock</div></div>Binance is among the top 10 centralized crypto exchanges in the world. The BNB (<a href="https://investorplace.com/stock-quotes/bnb-usd-stock-quote/">BNB-USD</a>) coin can be used to pay fees while trading on the Binance exchange. Further, users holding BNB coins above a certain threshold are given VIP tiers and additional fee discounts. Therefore, the first point to note is that the coin has a strong use case.



Another important point is that the bull market for cryptocurrencies is far from euphoric. It&rsquo;s likely the best part of the current bull market will unfold in the next 12 to 18 months. That will translate into dozens of altcoins delivering multibagger returns.



The reason to mention this is to underscore the point that trading volumes will surge in the coming quarters. That will benefit some of the largest centralized exchanges like Binance. With a strong use case, the BNB coin is likely to trend higher.



On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/3-cryptos-to-turn-100000-into-1-million-spring-2024/">3 Cryptos to Turn $100,000 Into $1 Million: Spring 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Warren Buffett might be the greatest investor of all time, but he&rsquo;s not immune from making mistakes. This was on full display at the recent Berkshire Hathaway (NYSE:<a href="https://investorplace.com/stock-quotes/brk-a-stock-quote/">BRK-A</a>, NYSE:<a href="https://investorplace.com/stock-quotes/brk-b-stock-quote/">BRK-B</a>) annual meeting, where Buffett disclosed that he had <a href="https://www.cnbc.com/2024/05/04/buffett-says-berkshire-sold-its-entire-paramount-stake-we-lost-quite-a-bit-of-money.html">sold the company&rsquo;s entire stake</a> in Paramount Global (NASDAQ:<a href="https://investorplace.com/stock-quotes/para-stock-quote/">PARA</a>) at a substantial loss.



Although the exact loss wasn&rsquo;t disclosed, <a href="https://ca.finance.yahoo.com/news/warren-buffett-says-sold-paramount-231445278.html">Buffett said</a>: &ldquo;I was 100% responsible for the Paramount decision. It was 100% my decision, and we&rsquo;ve sold it all and we lost quite a bit of money.&rdquo; The Paramount blunder is the latest bad investment that Buffett has made in the course of a career that spans more than 50 years. What&rsquo;s nice about Buffett is that he is quick to admit a mistake, correct it, and share what he has learned.



Despite his overall track record of success, Buffett is human like the rest of us and prone to bad decisions when it comes to stocks. Here is Warren Buffet&rsquo;s blunders: three investments even the Oracle regrets.



<h2>IBM (IBM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/05/ibm-building-1600-300x169.jpg" alt="Photo of IBM (IBM) building as seen through the canopy of a tree. IBM logo is in large letters on side of building."><div>Source: shutterstock.com/LCV</div></div>Throughout much of his career, Buffett has been criticized for not investing in high-growth <a href="https://investorplace.com/industries/technology/">technology stocks</a>. He has admitted that his avoidance of the tech sector has cost Berkshire Hathaway and its shareholders some big gains. Buffett still <a href="https://www.cnbc.com/2017/05/06/warren-buffett-admits-he-made-a-mistake-on-google.html">chastises himself</a> for not investing in Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>). The Oracle of Omaha has made up some ground in this area by going all in on Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>).



Though he recently <a href="https://www.baystreet.ca/stockstowatch/17873/Berkshire-Hathaway-Reduces-Apple-Stake-By-13">trimmed his position</a> in AAPL stock, it remains <a href="https://www.cnbc.com/berkshire-hathaway-portfolio/">Berkshire&rsquo;s biggest position</a>, accounting for 40% of the equity portfolio. However, before he started buying Apple shares in earnest during 2018, Buffett made a costly bet on legacy tech firm IBM (NYSE:<a href="https://investorplace.com/stock-quotes/ibm-stock-quote/">IBM</a>). In November 2011, Buffett bought 64 million shares of IBM at an average price of $170, giving Berkshire a $10.7 billion stake in the tech giant.



Seven years later, Buffett <a href="https://www.cnbc.com/2019/12/31/this-decade-saw-warren-buffett-finally-exit-ibm-jump-big-into-apple.html">sold the entire IBM holding</a> after enduring six years of mounting sales declines and watching as the stock&rsquo;s price fell to $140 a share. This led to Berkshire incurring a nearly 20% loss on its IBM investment. Fortunately for shareholders of Berkshire Hathaway, Buffett quickly pivoted from IBM to Apple, and the rest is history.



<h2>Walt Disney (DIS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/dis1600e-300x169.jpg" alt="Statue of Disney's (DIS) Mickey Mouse in Bangkok, Thailand."><div>Source: spiderman777 / Shutterstock.com</div></div>Paramount Global isn&rsquo;t the first entertainment stock that Buffett counts as an investment blunder. Early in his career, Buffett made <a href="https://www.joshuakennon.com/warren-buffetts-12-billion-disney-mistake/">a huge mistake</a> by selling his holding in Walt Disney Co. (NYSE:<a href="https://investorplace.com/stock-quotes/dis-stock-quote/">DIS</a>). Back in 1966, Buffett met with Walt Disney himself, who was then expanding the Disneyland theme park in California. At the time, Disney was known for its one theme park and a couple dozen animated movies. Sentiment towards DIS stock on Wall Street was indifferent.



Buffett apparently liked Walt Disney and the company&rsquo;s pristine balance sheet. He took <a href="https://www.fool.com/investing/2019/10/01/3-stocks-warren-buffett-sold-way-too-early.aspx#:~:text=The%20Oracle%20of%20Omaha%20would,a%20cool%20%242%20million%20profit.">a 5% stake in the company</a>, buying $4 million of DIS stock. A year later, Buffett sold his entire stake in Disney for $6 million, netting a 50% ($2 million) profit. The Disney investment may have been profitable, but Buffett earned peanuts compared to what he would have made had he held on. Today, Buffett&rsquo;s 5% stake in Disney would be worth $10 billion based on the current share price. 



Buffett also would have earned more than $1 billion worth of dividend payments over the years had he let DIS stock ride. Maybe this is why Buffett now says his &ldquo;<a href="https://www.goodreads.com/quotes/10253833-our-favorite-holding-period-is-forever-we-are-just-the">favorite holding period is forever</a>.&rdquo;



<h2>ConocoPhillips (COP)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/04/concophillips.png"><img width="300" height="199" src="https://investorplace.com/wp-content/uploads/2024/04/concophillips-300x199.png" alt="Oil Stocks ConocoPhillips (COP)"></a>The price someone pays for a stock matters. Buying at <a href="https://www.investopedia.com/financial-edge/0210/buffetts-biggest-mistakes.aspx#:~:text=Buying%20at%20the%20wrong%20price,on%20his%20list%20of%20errors.">the top of the market</a> is never a good idea. Yet that is the mistake Buffett made in 2008 when he bought a big stake in oil and natural gas producer ConocoPhillips (NYSE:<a href="https://investorplace.com/stock-quotes/cop-stock-quote/">COP</a>). Buffett bought 79.9 million shares of ConocoPhillips when crude oil prices were trading near $100 a barrel. It turned out to be the peak for energy prices.



Crude oil fell amid the 2008/09 financial crisis and COP stock fell alongside it. As a result, Berkshire Hathaway ended up reporting <a href="https://www.cbc.ca/news/business/buffett-takes-a-1-5b-loss-on-conocophillips-derivatives-1.778228">a $1.5-billion loss</a> for the first-quarter of 2009 as it wrote down its ConocoPhillips investment. At the time, it was the biggest quarterly loss in Berkshire&rsquo;s history. Buffett called the investment a major mistake and swiftly sold 40% of the ConocoPhillips holding. By 2013, Buffett had <a href="https://www.hartenergy.com/exclusives/warren-buffett-ditches-conocophillips-invests-37-billion-exxon-13533">completely exited</a> COP stock. 



In this case, Buffett appears to have gotten caught up in an energy rally that took place in 2007 and 2008. Buffett has had a love/hate relationship with <a href="https://investorplace.com/industries/energy/oil/">oil stocks</a> throughout his career, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-chevron-occidental-petroleum-oil-stocks-quotes-2022-7">praising their valuations</a> while complaining about the volatility in energy markets.



On the date of publication, Joel Baglole&nbsp;held a long position in GOOGL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestorplace.com%2Fcorporate%2Finvestorplace-publishing-guidelines%2F&amp;data=04%7C01%7C%7C5a525d9084ae4cdfb8f008da1edbf06e%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637856227247256778%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&amp;sdata=uLFH3ol2mcVxuJrHYW3xDLVx3qGIvonIwHvcfUa%2Fo24%3D&amp;reserved=0" target="_blank">Publishing Guidelines</a>.
<div>Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/warren-buffets-blunders-3-investments-even-the-oracle-regrets/">Warren Buffet&#8217;s Blunders: 3 Investments Even the Oracle Regrets</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Warren Buffet's Blunders: 3 Investments Even the Oracle Regrets

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