Option chain shows key data for CanaFarma Hemp Products's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for CanaFarma Hemp Products.

CanaFarma Hemp Products (OTC:CNFHF) Stock, Option Chain

CanaFarma Hemp Products Corp is engaged in the growing, manufacturing, processing, and selling Hemp oil via an online distribution platform. The company operates in two segments: Consumer Products and Biomass cultivation. The majority of its revenue comes from the Consumer products segment, which includes the sale of naturally derived hemp products through its proprietary online sales engine. Some of its products include Hemp Oil Infused Chewing Gum, Hemp Oil Tinctures, Hemp Oil Infused Cream and Hemp Oil Cream. Its brands are YOOFORIC and the Herbal State of Mind. The company in a single geographical segment, which is the United States.

Cannabis

News

Penny Stocks

Markets

CNFHF

PDRDY

As the cannabis market expands, it&#39;s hard to keep track of the many products that launch every week. But don’t worry, Benzinga always keeps you updated on the most interesting new cannabis products being launched.

Just Live CBD Sparkling Water

New Cannabis Products: CBD Sparkling Water, Non-Alcoholic Gin, Bourbon, Tequila, A Cannabis &#39;Spirit&#39;

CSE:CNFA

As the cannabis market expands, it&#39;s hard to keep track of the many products that launch every week. But don’t worry, Benzinga always keeps you updated on the most interesting new cannabis products being launched.

LifeTonic CBD

New Cannabis Products: CBD Products From LifeTonic, Earlybird And Vertical Wellness

Entrepreneurship

Movers & Shakers

Small Cap

General

GREEN ORGANIC DUTCHMAN by Green Organic Dutchman Hlgds.

TGODF

TRSSF

ZDPY

CSE:EDEN

TSX:TGOD

CSE:TER

The Ideation Lab Appoints Christina Jefferson To Advisory Board

The Ideation Lab, LLC has tapped Christina Jefferson to its advisory board.

Cannabis Movers &amp; Shakers: The Ideation Lab, CanaFarma, Zoned Properties, Alabama Medical Cannabis Commission, Green Organic Dutchman, TerrAscend

CANAFARMA HEMP PRODS by CANAFARMA HEMP PRODS CORP.

CanaFarma Hemp Products Corp

Chinese tech giants are making substantial gains, challenging the dominance of established players like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in the global wrist-worn device market.&nbsp;
What Happened: According to an IDC report released on Wednesday, the global wrist-worn device market, including smartwatches and wristbands, saw shipments reach 139 million units in the first three quarters of 2024.
Despite a 1% decline due to market saturation in key regions like the U.S. and India, China emerged as a leader with 45.8 million units shipped, marking a 20.1% year-on-year increase.
Huawei Technologies led the global market with 23.6 million units shipped, capturing a 16.9% market share. The brand&#8217;s GT5 series and Watch D2 were particularly popular.
Apple followed with 22.5 million shipments, holding a 16.2% market share. The tech giant experienced a 12.8% decline from the last year due to intense competition.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42514226/shiba-inu-burn-rate-surges-3609-as-dogecoin-whales-move-5-8-billion-doge-what-is-going-on?itm_source=parsely-api">Shiba Inu Burn Rate Surges 3,609% As Dogecoin Whales Move 5.8 Billion DOGE: What Is Going On?</a>
Xiaomi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>) ranked third with 20.5 million shipments and a 14.7% market share.
Samsung and the BBK Group, the parent company of brands like Oppo, Vivo, OnePlus, and Realme, followed with 11.5 million and 7.8 million units, respectively.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19035758/Screenshot-2024-12-19-at-2.27.50%E2%80%AFPM-1024x495.png" alt="" class="wp-image-699220" /><figcaption class="wp-element-caption">Source: IDC</figcaption></figure>
Looking forward, IDC anticipates a 3.2% year-on-year growth in the Chinese market, with 62.5 million shipments expected in 2025, driven by diversified sales channels and improved health sensor accuracy.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Apple's troubles with its Chinese counterparts are not limited to just wrist-worn devices. Earlier this year in July it was reported that <a href="https://www.benzinga.com/markets/equities/24/07/39954971/apple-drops-from-3rd-to-6th-in-china-amid-intensifying-competition-huawei-shipments-surge-41-in-">Apple&#8217;s position in the Chinese market</a> dropped from third to sixth place in the second quarter of 2024.
Previously it was also reported that China is making intense efforts <a href="https://www.benzinga.com/news/24/09/41017367/huawei-riding-high-on-trifold-success-launches-revolutionary-laptop-powered-by-homegrown-chips-softw">toward achieving technological self-reliance</a> as a direct reaction to U.S. limitations on semiconductor exports to the country.
The country is also making waves in the field of AI. Earlier this month, Clem Delangue, co-founder and CEO of Hugging Face, predicted that in 2025, <a href="https://www.benzinga.com/24/12/42319922/artificial-intelligence-ceo-backed-by-nvidia-alphabet-amazon-shares-2025-ai-predictions-including-robots-chemistry-and-more">China will take the lead</a> in the AI race, because of open-source AI development.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42522048/jim-cramer-warns-nvidias-vicious-and-fast-reversal-is-coming-amid-174-surge-this-year-and-china-antitrust-probe?itm_source=parsely-api">Jim Cramer Warns Nvidia&#8217;s &#8216;Vicious&#8217; And &#8216;Fast&#8217; Reversal Is Coming Amid 174% Surge This Year And China Antitrust Probe</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

AAPL

XIACF

Apple Watch Faces Tough Competition As Huawei Drives 20% Surge In Wearables

Stifel analyst Selman Akyol upgrades DT Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DTM#NYSE">DTM</a>) from Hold to Buy and raises the price target from $89 to $106.

Upgrades

Price Target

Analyst Ratings

Stifel Upgrades DT Midstream to Buy, Raises Price Target to $106

Perplexity AI, backed by Amazon.com Inc. founder Jeff Bezos, <a href="https://www.benzinga.com/markets/equities/24/10/41420230/jeff-bezos-backed-perplexity-aims-for-8b-valuation-in-new-funding-round-ai-fueled-google-challen">secured $500 million in funding</a> led by Institutional Venture Partners, tripling its valuation to $9 billion, <a href="https://www.ft.com/content/d4fb70f9-b971-433b-884c-2f01d1d08968">reported</a> the Financial Times on Wednesday, citing sources. 
What Happened: The San Francisco-based startup has seen rapid growth in 2024, processing hundreds of millions of monthly queries from 15 million active users, mostly in the U.S. The company&#8217;s market share in AI search increased from 2.7% to 5.8% this year, according to FirstPageSage data.
Perplexity challenges Alphabet Inc.&#8217;s (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>) Google and Microsoft Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) artificial intelligence-powered search offerings, while also taking on OpenAI.
While OpenAI&#8217;s ChatGPT maintains market leadership with a 73.8% share, followed by Google&#8217;s Gemini at 13.5%, Perplexity&#8217;s growth trajectory has attracted high-profile investors. 
OpenAI&#8217;s website continues to lead the AI platform race, ranking 92nd globally and 139th in U.S. web traffic, according to recent Similarweb data. The company attracted 250.1 million total visits, showcasing its commanding market position.
Perplexity.ai, while trailing in overall rankings at 467th globally and 547th in the U.S., demonstrated strong user engagement. The platform recorded 58.69 million total visits, with users spending an average of six minutes per session and viewing nearly four pages per visit.
In contrast, Google&#8217;s Gemini platform struggled to gain traction, ranking 12,612th globally and 31,018th in the U.S. The service recorded just 989,992 total visits, with notably high bounce rates suggesting challenges in user retention.
Monthly visit data further highlights the disparity, with OpenAI recording 83.39 million visits compared to Perplexity.ai&#8217;s 19.56 million and Gemini&#8217;s 329,997 visits. While OpenAI leads in raw traffic numbers, 
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19035716/Screenshot-2024-12-19-at-2.21.33%E2%80%AFPM-1024x499.png" alt="" class="wp-image-699219" /></figure>
Perplexity AI did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Similarweb data also shows conversations about Perplexity versus ChatGPT surging over the course of the year, largely taking off in August.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="365" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19042831/Perplexity-versus-ChatGPT-1024x365.jpg" alt="" class="wp-image-699287" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19042831/Perplexity-versus-ChatGPT-1024x365.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19042831/Perplexity-versus-ChatGPT-300x107.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19042831/Perplexity-versus-ChatGPT-768x274.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19042831/Perplexity-versus-ChatGPT.jpg 1373w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
See Also: <a href="https://www.benzinga.com/24/12/42569479/openai-takes-a-page-from-googles-2007-playbook-by-turning-phones-into-an-ai-hotline-with-toll-free-number-1-800-chatgpt">OpenAI Takes A Page From Google&#8217;s 2007 Playbook, Turns Phones Into AI Hotlines With 1-800-CHATGPT</a>
Why It Matters: Previous backers of Perplexity include NVIDIA Corp., SoftBank&#8216;s Vision Fund 2, and notable AI experts like Meta Platforms Inc.&#8216;s chief AI scientist Yann LeCun.
The funding comes as competition intensifies in the AI search space. OpenAI recently integrated web searching into ChatGPT, while Anthropic&#8217;s Claude expanded its capabilities with a &#8220;computer use&#8221; feature.
Both Google and Microsoft have incorporated large language models into their search products to provide more conversational results.
Perplexity&#8217;s revenue model relies on subscriptions, with annualized revenues growing from $5 million in January to $35 million in August. The company is now exploring advertising partnerships with major brands, potentially challenging the traditional search <a href="https://www.benzinga.com/markets/equities/24/10/41420230/jeff-bezos-backed-perplexity-aims-for-8b-valuation-in-new-funding-round-ai-fueled-google-challen">advertising system pioneered by Google</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/12/42569744/apple-reportedly-in-talks-with-tencent-tiktok-parent-bytedance-to-roll-out-ai-features-in-china">Apple Reportedly In Talks With Tencent, TikTok-Parent ByteDance To Roll Out AI Features In China</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOG

GOOGL

MSFT

NVDA

Jeff Bezos-Backed Perplexity Raises $500 Million, Tripling Its Valuation To $9 Billion As Competition With Google And OpenAI Heats Up

Roth MKM analyst Darren Aftahi initiates coverage on HIVE Digital Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) with a Buy rating and announces Price Target of $7.5.

Initiation

HIVE

Roth MKM Initiates Coverage On HIVE Digital Technologies with Buy Rating, Announces Price Target of $7.5

Mizuho analyst Brett Linzey upgrades Stanley Black &amp; Decker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>) from Neutral to Outperform and maintains the price target from $110 to $110.

Mizuho Upgrades Stanley Black & Decker to Outperform, Maintains Price Target to $110

Chinese <a href="https://www.benzinga.com/tech/24/11/41931338/teslas-chinese-battery-supplier-catl-open-minded-about-us-expansion-if-trump-welcomes-chinese-investments">electric vehicle battery manufacturer</a> Contemporary Amperex Technology Co. Ltd. or CATL is reportedly considering a second listing in Hong Kong.
What Happened: The listing could raise at least $5 billion, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-19/catl-is-said-to-consider-hk-listing-to-raise-at-least-5-billion">reported</a>, citing people familiar with the matter. The company is talking with potential advisers and listing might happen as early as the first half of 2025, the report said. 
CATL&#8217;s plans, however, could change, the report noted, given the company&#8217;s deliberations are ongoing. A second listing in Hong Kong will need the company to get approval from China&#8217;s securities regulator.
If CATL raises $5 billion or more, it would top Midea Group Co&#8217;s $4.6 billion share sale in September, Bloomberg noted, making it the city&#8217;s biggest since early 2021 when Kuaishou Technology had a $6.2 billion share sale.
CATL did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comment on the prospective second listing.
Why It Matters: CATL is the world&#8217;s top EV battery maker supplying companies including Tesla. It currently trades on the Shenzhen Stock Exchange. Its shares have surged over 70% year-to-date and the company now has a market cap of about 1.2 trillion yuan. 
The biggest IPO to date in Hong Kong occurred in 2010. Insurance company AIA Group Ltd&#8217;s listing then raised more than $20 billion, Bloomberg noted.
CATL announced this week that it has <a href="https://www.benzinga.com/tech/24/12/42550475/tesla-rival-catl-co-develops-10-ev-models-with-battery-swap-technology-report">co-developed 10 EV models</a> with automakers that use swappable batteries. It also revealed that in 2024 so far, it completed 60 million battery swaps, and Chinese EV maker Nio Inc. uses battery-swapping technology in 60% of its vehicles.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42568754/us-epa-greenlights-californias-plan-to-ban-sale-of-new-gas-cars-by-2025" target="_blank" rel="noreferrer noopener">EPA Greenlights California's Plan To Ban Sale Of New Gas Cars By 2025</a></li>
</ul>
Photo courtesy: Shutterstock

Media

EV Battery Maker CATL Eyes 2nd Listing In Hong Kong To Raise $5 Billion Or More: Report

Jeremy Siegel, professor emeritus at the University of Pennsylvania&#8217;s Wharton School, described the stock market&#8217;s recent downturn as a &#8220;healthy&#8221; reaction to the Federal Reserve&#8217;s cautious approach to future interest rate cuts.
What Happened: The Federal Reserve&#8217;s decision to lower&nbsp;interest rates by a quarter&nbsp;percentage point, setting the target range to 4.25% to 4.5%, was accompanied by a revised forecast indicating fewer rate cuts in 2025 than previously expected. This announcement led to declines across all three major Wall Street indexes, as investors had anticipated more aggressive rate reductions, CNBC <a href="https://www.cnbc.com/2024/12/19/wharton-jeremy-siegel-stock-sell-off-after-fed-rate-cut-is-healthy-.html">reported</a> on Thursday. 
"The market was overly optimistic&#8230;so I am not surprised at the sell-off," he said. 
He suggested that the Fed might reduce rates only once or twice next year, with the possibility of no cuts at all due to inflation concerns.
The Fed&#8217;s new projections expect the core personal consumption expenditures price index&nbsp;to remain elevated at 2.5%&nbsp;through 2025, above the 2% target. Siegel also mentioned potential tariffs from President-elect Donald Trump could impact inflation, though he believes&nbsp;the actual tariffs may not&nbsp;be as significant as feared.
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42567762/bitcoin-ethereum-dogecoin-fall-after-fed-shows-no-interest-for-piling-btc-top-analyst-says-sentiment-shifting-2025-suddenly-looks-a-lot-less-rosy?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Fall After Fed Shows No Interest For Piling BTC: Top Analyst Says Sentiment Shifting — &#8216;2025 Suddenly Looks A Lot Less Rosy&#8217;</a>
Why It Matters: The Federal Reserve&#8217;s recent decision to <a href="https://www.benzinga.com/news/econ-s/24/12/42561549/fed-slashes-interest-rates-by-0-25-as-predicted-december-dot-plot-flags-only-2-potential-cuts-in-2025">cut interest rates by 0.25% </a>was widely anticipated, marking the third consecutive reduction in borrowing costs. This move brought the federal funds rate to its lowest level since January 2023, following a 50-basis-point cut in September and a 25-basis-point move in November. However, the decision was not unanimous, with Cleveland Fed President Beth M. Hammack voting to maintain the target range unchanged at 4.5%-4.75%. 
Experts have noted that while the rate cut was expected, the <a href="https://www.benzinga.com/24/12/42564443/santa-came-early-with-rate-cut-but-federal-reserve-brings-coal-next-year-experts-weigh-in-on-rate-cut-feds-2025-projections">Fed&#8217;s projections for 2025 </a>brought a sobering outlook. The Fed&#8217;s cautious stance on future rate cuts, as indicated by the December dot plot, flags only two potential cuts in 2025. This has led to a reassessment of market expectations, with investors adjusting to the reality of a less aggressive monetary policy.
Meanwhile, the CNN Money Fear and Greed Index <a href="https://www.benzinga.com/news/earnings/24/12/42569953/dow-dips-over-1100-points-falling-for-10th-session-as-powell-adopts-hawkish-stance-greed-index-moves-to-fear-zone">fell into the &#8220;Fear&#8221; zone </a>on Wednesday, signaling a decline in market sentiment. U.S. stocks closed lower, with the Dow Jones index dropping over 1,100 points for the 10th consecutive session.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which tracks the S&amp;P 500 closely, has dropped by 3.35% in the past week while Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) dropped by 2.13%. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/global/24/12/42502247/trumps-ex-secretary-of-state-mike-pompeo-backs-nippon-steels-149b-acquisition-of-us-steel-citing-national-security-concerns?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Ex-Secretary Of State Mike Pompeo Backs Nippon Steel&#8217;s $14.9B Acquisition Of US Steel Citing National Security Concerns</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy of the Federal Reserve.

Analyst Color

Macro Economic Events

Economics

Wharton's Jeremy Siegel Calls Stock Sell-Off A 'Healthy' Reality Check: 'Market Was Overly Optimistic'

CarMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) will release its third-quarter financial results, before the <a href="https://www.benzinga.com/quote/KMX/earnings">opening bell, on Thursday, Dec. 19</a>.
Analysts expect the Richmond, Virginia-based company to report quarterly earnings at 61 cents per share, up from 52 cents per share in the year-ago period. CarMax projects quarterly revenue of $6.05 billion, compared to $6.15 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Sept. 26, the company reported earnings per share of 85 cents, missing the analyst consensus estimate of 86 cents..
CarMax shares fell 2.1% to close at $81.42 on Wednesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/KMX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>JP Morgan analyst Rajat Gupta maintained an Underweight rating and raised the price target from $65 to $70 on Dec. 5. This analyst has an accuracy rate of 77%.</li>
<li>Stephens &amp; Co. analyst Jeff Lick initiated coverage on the stock with an Equal-Weight rating and a price target of $86 on Dec. 5. This analyst has an accuracy rate of 67%.</li>
<li>RBC Capital analyst Steven Shemesh reiterated an Outperform rating with a price target of $82 on Oct. 16. This analyst has an accuracy rate of 65%.</li>
<li>Wedbush analyst Seth Basham reiterated an Outperform rating with a price target of $95 on Oct. 16. This analyst has an accuracy rate of 76%.</li>
<li>Oppenheimer analyst Brian Nagel maintained an Outperform rating with a price target of $105 on Oct. 4. This analyst has an accuracy rate of 73%.</li>
</ul>
Considering buying KMX stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="608" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19033105/image-162-1024x608.png" alt="" class="wp-image-699158" style="width:622px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19033105/image-162-1024x608.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19033105/image-162-300x178.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19033105/image-162-768x456.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19033105/image-162.png 1095w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/24/12/42553288/top-3-tech-and-telecom-stocks-that-may-crash-this-month">Top 3 Tech And Telecom Stocks That May Crash This Month</a></li>
</ul>

Earnings

Pre-Market Outlook

Trading Ideas

CarMax Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

<h3>Companies Reporting Before The Bell</h3>
• Lamb Weston Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) is expected to report quarterly earnings at $1.01 per share on revenue of $1.67 billion. 
• Soho House (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHCO#NYSE">SHCO</a>) is expected to report quarterly loss at $0.01 per share on revenue of $332.86 million. 
• FuelCell Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) is estimated to report quarterly loss at $1.80 per share on revenue of $40.83 million. 
• MBX Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBX#NASDAQ">MBX</a>) is likely to report earnings for its third quarter. 
• Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) is projected to report quarterly earnings at $2.02 per share on revenue of $2.87 billion. 
• Cintas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) is expected to report quarterly earnings at $1.02 per share on revenue of $2.56 billion. 
• Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) is expected to report quarterly earnings at $1.13 per share on revenue of $1.31 billion. 
• Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) is projected to report quarterly earnings at $0.68 per share on revenue of $3.15 billion. 
• CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) is estimated to report quarterly earnings at $0.59 per share on revenue of $6.00 billion. 
• Accenture (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) is likely to report quarterly earnings at $3.42 per share on revenue of $17.17 billion. 
• FactSet Research Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>) is likely to report quarterly earnings at $4.25 per share on revenue of $564.74 million. 
<h3>Companies Reporting After The Bell</h3>
• Mobix Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOBX#NASDAQ">MOBX</a>) is likely to report earnings for its fourth quarter. 
• Innovative Solns (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISSC#NASDAQ">ISSC</a>) is estimated to report earnings for its fourth quarter. 
• BlackBerry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>) is projected to report quarterly loss at $0.01 per share on revenue of $149.98 million. 
• Scholastic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCHL#NASDAQ">SCHL</a>) is projected to report quarterly earnings at $2.61 per share on revenue of $584.04 million. 
• Mission Produce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVO#NASDAQ">AVO</a>) is estimated to report quarterly earnings at $0.08 per share on revenue of $216.80 million. 
• Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) is likely to report quarterly earnings at $0.83 per share on revenue of $12.47 billion. 
• FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) is estimated to report quarterly earnings at $3.95 per share on revenue of $22.14 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CTAS

FCEL

ISSC

MOBX

PAYX

SCHL

SHCO

Earnings Scheduled For December 19, 2024

The CNN Money Fear and Greed index showed a sharp decline in the overall market sentiment, while the index moved to the &#8220;Fear&#8221; zone on Wednesday.
U.S. stocks settled lower on Wednesday, with the Dow Jones index falling for the 10th session in a row, dipping more than 1,100 points during the session.
Federal Reserve Chair Jerome Powell adopted a hawkish stance during his Wednesday press conference after the December Fed meeting. Although the Federal Reserve lowered interest rates by 0.25% to a range of 4.25%-4.5%, as widely anticipated, the updated economic projections suggest just two potential rate cuts in 2025 — down from four projected in September and fewer than the three anticipated by markets before the meeting.
On the economic data front, the U.S. recorded a current account deficit of $310.9 billion in the third quarter compared to the revised gap of $275.0 billion in the previous period, versus market estimates of a $284 billion gap. U.S. housing starts fell 1.8% to an annualized rate of 1.289 million units in November from 1.312 million in October.
General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) shares fell around 3% on Wednesday following the release of second-quarter results. Shares of Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) rose around 10% during Wednesday&#8217;s session as the company posted better-than-expected results for its second quarter.
All sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, real estate, and communication services stocks recording the biggest losses on Wednesday.
The Dow Jones closed lower by around 1,123 points to 42,326.87 on Wednesday. The S&amp;P 500 fell 2.95% to 5,872.16, while the Nasdaq Composite declined 3.56% at 19,392.69 during Wednesday's session.
Investors are awaiting earnings results from Accenture Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), and FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 33.9, the index moved to the &#8220;Fear&#8221; zone on Wednesday, versus a prior reading of 50.7.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42553288/top-3-tech-and-telecom-stocks-that-may-crash-this-month">Top 3 Tech And Telecom Stocks That May Crash This Month</a></li>
</ul>
Photo courtesy: Shutterstock

Dow Dips Over 1,100 Points, Falling For 10th Session As Powell Adopts Hawkish Stance: Greed Index Moves To 'Fear' Zone

ITRI

Reported Earlier, Itron Partners With Water Corporation To Modernize Perth's Water Distribution System With Smart Meter Technology

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Accenture Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) to report quarterly earnings at $3.40 per share on revenue of $17.12 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Accenture shares gained 0.1% to $348.10 in after-hours trading.</li>
<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) posted better-than-expected earnings for its first quarter, while sales missed expectations. The company said it sees second-quarter revenue of $7.9 billion, plus or minus $200 million, versus estimates of $9 billion. The company expects second-quarter adjusted earnings of $1.43 per share, plus or minus 10 cents per share, versus estimates of $1.92 per share. Micron shares dipped 16.1% to $87.15 in the after-hours trading session.</li>
<li>Analysts expect Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) to post quarterly earnings at 64 cents per share on revenue of $12.13 billion after the closing bell. Nike shares gained 0.4% to $77.19 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Lennar Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) reported worse-than-expected financial results for the fourth quarter. The company also said it expects first-quarter deliveries of 17,000 to 17,500 homes. The company also guided for full-year 2025 deliveries of 86,000 to 88,000 homes. Lennar shares tumbled 8.8% to $133.07 in the after-hours trading session.</li>
<li>Analysts expect FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) to post quarterly earnings at $3.91 per share on revenue of $22.11 billion. The company will release earnings after the closing bell. FedEx shares gained 0.2% to $273.75 in the after-hours trading session.</li>
</ul>
Check This Out:<a href="https://www.benzinga.com/24/12/42553288/top-3-tech-and-telecom-stocks-that-may-crash-this-month"> </a>
<ul>
<li><a href="https://www.benzinga.com/24/12/42553288/top-3-tech-and-telecom-stocks-that-may-crash-this-month">Top 3 Tech And Telecom Stocks That May Crash This Month</a></li>
</ul>
Photo courtesy: Shutterstock

Micron Technology, Accenture And 3 Stocks To Watch Heading Into Thursday

Woodside and Chevron have agreed to an asset swap under which Woodside will acquire Chevron's interest in the North West Shelf (NWS) Project, the NWS Oil Project and the Angel Carbon Capture and Storage (CCS) Project, and transfer all of its interest in both the Wheatstone and Julimar-Brunello Projects to Chevron. Chevron will also make a cash payment to Woodside of up to $400 million.
The transaction highlights include:
<ul>
<li>Streamlines Australian portfolio and consolidates focus on operated LNG assets;</li>
<li>Simplifies NWS joint venture ownership, unlocking economic recovery of existing production and future development opportunities; and</li>
<li>Strengthens near-term cash flow to support shareholder distributions and ongoing investments.</li>
</ul>

Reported Earlier, Woodside Reshapes Portfolio With Chevron Asset Swap, Gaining LNG And CCS Project Interests

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>) autonomous driving unit Waymo said on Wednesday that the company served over four million fully autonomous rides in 2024, taking the total number of rides to over 5 million.
What Happened: Waymo&#8217;s robotaxi rides are open to the public in Phoenix, Los Angeles, and San Francisco. 
While the popular destination for riders in Phoenix was the Sky Harbor International Airport, the most popular destination for riders in San Francisco was The Ferry Building. In Los Angeles, The Grove shopping center was most popular among Waymo riders, the company said. 
Waymo now serves over 150,000 trips to riders every week, the company added. 
Why It Matters: Waymo is now working to commercially launch in Austin and Atlanta on the Uber app next year. It also intends to launch its services in <a href="https://www.benzinga.com/tech/24/12/42360297/waymo-eyes-expansion-of-autonomous-rides-to-users-in-miami-by-2026">Miami with fleet partner Moove in 2026. </a>
The company also said earlier this week that it will start testing its robotaxis in Tokyo, Japan, beginning in early 2025, in its <a href="https://www.benzinga.com/tech/24/12/42523474/alphabets-waymo-expands-global-reach-with-tokyo-robotaxi-testing-eyes-left-hand-traffic-challenges">first step towards international markets</a>. 
All-electric Jaguar I-PACEs equipped with Waymo's autonomous driving technology will arrive in Tokyo in early 2025 and learn to adapt to left-hand traffic and other driving nuances of the city, the company said.
The company, however, did not provide a timeline for when it intends to provide autonomous paid rides to members of the public.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42568754/us-epa-greenlights-californias-plan-to-ban-sale-of-new-gas-cars-by-2025">EPA Greenlights California&#8217;s Plan To Ban Sale Of New Gas Cars By 2025</a></li>
</ul>
Photo courtesy: Waymo

Waymo Completes 4 Million Autonomous Rides In Key US Metropolitan Areas In 2024 Ahead Of Tokyo Launch

Quantum computing stocks have catapulted this year, especially after Dec. 9, when 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>) Google announced its <a href="https://www.benzinga.com/24/12/42447332/alphabets-quantum-willow-chip-wows-analyst-google-at-the-leading-edge-of-technology-innovation">latest quantum chip, Willow</a>. However, analysts have a negative consensus rating for these stocks.
What Happened: Quantum Computing Inc. stock surged by 52.95% on Thursday and 2,785.39% over the year but Citron Research has called this move the &#8220;most ridiculous&#8221; citing its spending on research and development.
Stocks of other companies, including Rigetti Computing Inc., and D-Wave Quantum Inc. have soared enormously, whereas other quantum computing players like IONQ Inc. and International Business Machines. have seen modest growth.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Stock</td>
<td>5-Day Change</td>
<td>1-Month Change</td>
</tr>
<tr>
<td>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>)</td>
<td>296.86%</td>
<td>911.02%</td>
</tr>
<tr>
<td>Rigetti Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>)</td>
<td>60.87%</td>
<td>716.03%</td>
</tr>
<tr>
<td>D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>)</td>
<td>108.37%</td>
<td>501.34%</td>
</tr>
<tr>
<td>IONQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>)</td>
<td>27.99%</td>
<td>34.46%</td>
</tr>
<tr>
<td>IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)</td>
<td>-5.23%</td>
<td>4.72%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The move in these quantum computing stocks has gotten out of hand. Rigetti <a href="https://twitter.com/search?q=%24RGTI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RGTI</a> and Quantum <a href="https://twitter.com/search?q=%24QUBT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QUBT</a> are now up more than 1,000% so far in Q4. <a href="https://t.co/UY0MmB8yN0">pic.twitter.com/UY0MmB8yN0</a>
&mdash; Bespoke (@bespokeinvest) <a href="https://twitter.com/bespokeinvest/status/1868760473094832549?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/24/12/42447332/alphabets-quantum-willow-chip-wows-analyst-google-at-the-leading-edge-of-technology-innovation">Alphabet&#8217;s Quantum Willow Chip Wows Analyst: Google At The &#8216;Leading Edge Of Technology Innovation&#8217;</a>
Why It Matters: The funds allocated to research and development as a part of operating expenses were down to $2.24 million in the third quarter of the current fiscal for Quantum Computing. This compares to $2.32 million during the same period last year.
According to Citron, this is a &#8220;striking mismatch for a company claiming to offer integrated high-performance quantum systems.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Small-cap quantum stocks are in a bubble, but <a href="https://twitter.com/search?q=%24QUBT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QUBT</a> stands out as the most ridiculous. The numbers tell the story. R&amp;D spending is THE critical indicator in this space: last quarter, <a href="https://twitter.com/search?q=%24IONQ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IONQ</a> allocated $33M and <a href="https://twitter.com/search?q=%24RGTI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RGTI</a> $12M, modest figures next to tech giants like Google. Yet <a href="https://twitter.com/search?q=%24QUBT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QUBT</a>…
&mdash; Citron Research (@CitronResearch) <a href="https://twitter.com/CitronResearch/status/1869400459267436877?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The company was recently awarded a $26,000 contract from NASA. According to the CEO and CIO of the Arora Report, Nigam Arora, &#8220;The contract is very small and does not justify the run-up.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As many of you know, I am a nuclear physicist and engineer. Quantum computing stock <a href="https://twitter.com/search?q=%24QUBT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QUBT</a> is being pumped up like crazy on the news of a NASA contract. The contract is very small and does not justify the run up. I have worked with NASA. So, who is buying <a href="https://twitter.com/search?q=%24QUBT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QUBT</a>. It is the momo…
&mdash; Nigam Arora (@TheAroraReport) <a href="https://twitter.com/TheAroraReport/status/1869084928518103125?ref_src=twsrc%5Etfw">December 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Quantum computers, using qubits, promise to revolutionize computing by performing complex calculations exponentially faster than traditional computers.
Google&#8217;s recent breakthrough with Willow demonstrates the potential of quantum memory as it performed a standard benchmark computation in under five minutes which currently takes a supercomputer 10 septillion years — a number that vastly exceeds the age of the Universe.
However, high error rates remain a significant challenge, hindering commercial viability and uncertain timelines for widespread adoption.
&#8220;Buying $RGTI based on Google's quantum success is as misguided as believing every TikTok guitarist is the next Taylor Swift,&#8221; said Citron Research.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Buying <a href="https://twitter.com/search?q=%24RGTI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RGTI</a> based on Google's quantum success is as misguided as believing every TikTok guitarist is the next Taylor Swift. When the hype fades, investors will recall <a href="https://twitter.com/search?q=%24RGTI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RGTI</a> sold equity at $2 just two weeks ago, with more dilution to come rather than true quantum competitiveness.…
&mdash; Citron Research (@CitronResearch) <a href="https://twitter.com/CitronResearch/status/1866859551166959963?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
What Are Other Analysts Saying: According to the <a href="https://www.benzinga.com/quote/QUBT/analyst-ratings">analysts tracked by Benzinga</a>, most of these quantum computing companies face a potential downside in the future, with the exception of IBM.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Stocks</td>
<td>Last Three PT&#8217;s Average</td>
<td>Up/Downside Potential</td>
</tr>
<tr>
<td>Rigetti Computing</td>
<td>$3.33 </td>
<td>-67.09%</td>
</tr>
<tr>
<td>Quantum Computing</td>
<td>$8.63 </td>
<td>-62.77%</td>
</tr>
<tr>
<td>D-Wave Quantum</td>
<td>$4.58 </td>
<td>-48.33%</td>
</tr>
<tr>
<td>IONQ</td>
<td>$20.67 </td>
<td>-46.04%</td>
</tr>
<tr>
<td>IBM</td>
<td>$226.67 </td>
<td>2.66%</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42550804/bofa-says-cash-holdings-of-asset-managers-in-december-2024-has-been-the-lowest-since-2011-and-2002-triggering-a-sell-signal">Cash Holdings Of Asset Managers Lowest In 13 Years, Says BofA, Flagging &#8216;Sell&#8217; Signal Amid &#8216;Trump 2.0 Optimism&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Market Summary

IONQ

QBTS

QUBT

RGTI

Quantum Computing, Rigetti, D-Wave Skyrocket Up To 300% In 5 Sessions After Google Unveils Willow Chip, But Analysts Urge Caution: 'Not Every TikTok Guitarist Is The Next Taylor Swift'

<ul>
<li>RYONCIL (remestemcel-L) is the first MSC product approved by FDA for any indication.</li>
<li>RYONCIL is the first FDA-approved therapy for children aged 2 months and older, including adolescents and teenagers, with steroid-refractory acute graft versus host disease (SR-aGvHD), a life-threatening condition with high mortality rates.</li>
<li>In a single-arm, multi-center, Phase 3 trial of children with SR-aGvHD, 89% of whom had high severity Grade C or Grade D disease, 70% achieved an overall response by Day 28 of treatment with RYONCIL, a measure that predicts survival in aGVHD.</li>
<li>RYONCIL'S immunomodulatory effects, including inhibition of T cell activation and secretion of pro-inflammatory cytokines, position the therapy for potential other indications in diseases with excessive inflammation.&nbsp;</li>
</ul>

MESO

Reported Earlier, Mesoblast's RYONCIL Becomes The First FDA-Approved Mesenchymal Stromal Cell Therapy In The U.S

The Company intends to use the net proceeds of the Offering for the construction of a high-tech manufacturing industrial park in the Nanjing Lishui High-tech Development Zone, PRC, for the establishment of its smart manufacturing and new energy R&amp;D center, for the purchase of business equipment and other patented technologies, to strengthen and expand our presence in the PRC Southwest oil and gas market, and to bolster its working capital.

IPOs

Reported Earlier, Leishen Energy Prices $5.5M Initial Public Offering Of 1.375M Common Shares At $4/Share

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly engaging in discussions with&nbsp;Tencent&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) and TikTok&#8217;s parent company,&nbsp;ByteDance, to integrate their AI&nbsp;models into iPhones sold in&nbsp;China.
What Happened: The U.S. tech giant began incorporating OpenAI&#8217;s ChatGPT into its devices earlier this month. However, due to regulatory constraints in China, Apple is seeking local partners to enhance AI features on its devices. The&nbsp;discussions with Tencent and ByteDance&nbsp;are reportedly in preliminary stages, sources indicated, Reuters reported on Thursday.
Apple&#8217;s move comes&nbsp;as it faces declining market&nbsp;share in China, the world&#8217;s largest smartphone market.&nbsp;The absence of AI capabilities&nbsp;in its latest iPhones has been a significant drawback, especially with increasing competition from domestic brands like Huawei.
Apple, Tencent and ByteDance have yet to respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> queries.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/12/42525551/ahead-of-trumps-return-to-white-house-us-approves-406m-grant-for-taiwans-chipmaker-globalwafers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ahead Of Trump&#8217;s Return To White House, US Approves $406M Grant For Taiwan&#8217;s Chipmaker GlobalWafers</a>
Why It Matters: The potential collaboration with Tencent and ByteDance is critical for Apple as it navigates the competitive Chinese market. In recent months, Apple has faced challenges in China, including a <a href="https://www.benzinga.com/markets/equities/24/08/40125039/apple-cracks-down-on-tencent-and-bytedance-over-30-app-store-fees-threatens-to-reject-essential-">crackdown on app store fees</a>. In August, Apple intensified efforts to compel Tencent and ByteDance to close loopholes that allowed in-app creators to bypass Apple&#8217;s 30% commission. 
Moreover, Apple&#8217;s AI ambitions have been met with skepticism. In October, an analyst suggested that <a href="https://www.benzinga.com/news/24/10/41420086/apple-intelligences-meh-moment-ahead-analyst-predicts-5-months-of-build-up-could-lead-to-a-thats-it">Apple&#8217;s much-anticipated AI system,</a> Apple Intelligence, might not meet high expectations. This underscores the importance of Apple&#8217;s current talks with Chinese tech giants to bolster its AI capabilities.
In November,&nbsp;Tim Cook&nbsp;expressed optimism about Apple&#8217;s performance in China, <a href="https://www.benzinga.com/news/24/11/41677388/tim-cook-underscores-several-positive-signs-in-apples-china-performance-refrains-from-talking-about">highlighting positive signs</a> despite economic challenges. However, he refrained from commenting on the potential impact of economic stimulus. This context emphasizes the strategic importance of Apple&#8217;s AI integration efforts in maintaining its market position in China.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42499609/micron-gets-investment-from-white-house-china-launches-antitrust-investigation-on-nvidia-apple-faces-1-2-billion-lawsuit-in-california-more-consumer-tech-news-december-9-13?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Micron Gets Investment From White House, China Launches Antitrust Investigation On Nvidia, Apple Faces $1.2 Billion Lawsuit In California &amp; More: Consumer Tech News (December 9-13)</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

TCEHY

Apple Reportedly In Talks With Tencent, TikTok-Parent ByteDance To Roll Out AI Features In China

Reported Earlier, Marcus & Millichap's IPA Closes $203M Sale And Secures $127.8M Financing For Santa Clara Multifamily Property

- Agreement grants Astellas rights to employ Sangamo's novel proprietary capsid, STAC-BBB, for up to five potential neurological disease targets
- Sangamo to receive a $20 million upfront license fee and is eligible to earn up to $1.3 billion in additional licensed target fees and milestone payments across all five potential disease targets, as well as tiered royalties on potential net sales

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