Latest news for Jupiter Fund Mgmt (OTC:JFHHF) Stock

Jupiter Fund Management PLC is a provider of mutual funds with operations mostly in the United Kingdom. Jupiter also distributes its products through financial centers in Europe and Asia, either in house or through agency relationships. The group has increasingly focused on offering high-performance, outcome-oriented active strategies to drive organic growth. The company measures performance by monitoring its percentage of assets under management above the median over three years. The Group operates principally in the United Kingdom with international operating subsidiaries in Ireland, Hong Kong, Singapore, the United States, Switzerland and Luxembourg, which has branches across Europe.

JUPITER FUND MANAGEMENT by Jupiter Fund Management Ltd.

Jupiter Fund Management PLC

U.S. stock futures declined on Thursday after a break for Christmas on Wednesday. All four index futures slipped in early trade.
The S&amp;P 500 index is on its way to registering a robust 20% plus return for the second consecutive year in 2024, as most analysts expect a Santa Rally.
The 10-year and two-year Treasury notes yielded 4.62% and 4.35%, respectively. The probability of having no change in the interest rates for the upcoming Jan. 31, 2025 decision was at 91.4%, according to CME Group&#8217;s FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.42%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.43%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.41%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.43%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 0.49% to $598.36&nbsp; and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.47% to $527.45, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
Wall Street closed higher on Tuesday, kicking off the traditional <a href="https://www.benzinga.com/news/treasuries/24/12/42674886/santa-rally-kicks-off-on-wall-street-stocks-gain-tesla-soars-bitcoin-hits-98000">Santa Rally</a>. All major indices and sectors finished the shortened pre-Christmas trading session in the green.
The S&amp;P 500 climbed 1.1%, extending its winning streak to three consecutive days following the volatile Federal Reserve meeting last week. The Dow Jones Industrial Average rose 0.91%, while the tech-heavy Nasdaq 100 gained 1.37%, nearly recouping last week&#8217;s losses.
Consumer discretionary stocks, the top-performing sector this year, led the rally. Trading volumes were light but Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) surged 7.35%, its strongest single-day gain since November. Other notable performers in the S&amp;P 500 included Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) up 2.5%, Starbucks Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NYSE">SBUX</a>) up 2.8%, and Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) up 2.27%. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>1.35%</td>
<td>20,031.13</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>1.10%</td>
<td>6,040.04</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.91%</td>
<td>43,297.03</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.00%</td>
<td>2,259.85</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
Louis Navellier of Navellier &amp; Associates had said that Jerome Powell's hawkish stance did not inspire confidence. However, he believes that &#8220;A Santa Claus rally was subsequently sparked by the November PCE report, so the stock market is rallying into Christmas and should also rally into the New Year.&#8221;
&#8220;There is not a lot of economic news this week, but the good news is non-defense capital goods orders rose by 0.7% and have risen 2.1%, so there is a &#8216;green shoot&#8217; in the durable goods report. The Commerce Department reported that durable goods declined 1.1% in November due largely to a 12% decline in defense orders. Excluding transportation, durable goods orders declined by a more modest 0.1%,&#8221; he added.
According to Bespoke Investment Group &#8220;The S&amp;P has traded above its 200-DMA all year. This has happened 11 other times since 1952, and the next-year move has been about half the average. The last time this happened was in 2021, and before that, 2017.&#8221;
<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">The S&amp;P has traded above its 200-DMA all year. This has happened 11 other times since 1952, and the next-year move has been about half the average. Last time this happened was in 2021, and before that, 2017. <a href="https://t.co/LBmXRZ4OSC">pic.twitter.com/LBmXRZ4OSC</a>
&mdash; Bespoke (@bespokeinvest) <a href="https://twitter.com/bespokeinvest/status/1871580687595454732?ref_src=twsrc%5Etfw">December 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to Wells Fargo, &#8220;The outlook for 2025 is riddled with uncertainty.&#8221; The note also added that &#8220;Ascertaining what level of policy restraint achieves the careful balance of keeping inflation in check and easing stress on interest-rate sensitive sectors will dominate the monetary policy discussion come 2025.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
A few important data points remain to be released in this truncated week that will help investors determine the future course of action.
<ul>
<li>On Thursday, initial jobless claims data till Dec. 21 will announced at 8:30 a.m. ET.</li>
</ul>
<ul>
<li>On Friday, November&#8217;s data for the advanced U.S. trade balance in goods, advanced retail inventories, and advanced wholesale inventories will be announced at 8:30 a.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Color Star Technology Co Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADD#NASDAQ">ADD</a>) was up 103.70% in premarket after it announced that a prominent member of the UAE's royal family, has joined the company as an independent director.</li>
</ul>
<ul>
<li>Amplitech Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPG#NASDAQ">AMPG</a>) was up 15.35% and has risen by 81.17% over the last five sessions after it entered into agreements with institutional investors for a registered direct offering, raising $3.1 million before fees and expenses.</li>
</ul>
<ul>
<li>Rigetti Computing, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) was up 1.5% after the launch of its 84-qubit Ankaa-3 system, a quantum computer featuring an extensive hardware redesign that enables superior performance.</li>
</ul>
<ul>
<li>Zoomcar Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) was up 102.09% after it reported a 43% year-on-year growth in bookings for November 2024, primarily driven by increased wedding season demand.</li>
</ul>
<ul>
<li>Hour Loop Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOUR#NASDAQ">HOUR</a>) was down 36.36%, Direct Digital Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRCT#NASDAQ">DRCT</a>) was down 31.27% and Baosheng Media Group Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAOS#NASDAQ">BAOS</a>) was down 28.87%.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were higher in the early New York session by 0.61% to hover around $70.53 per barrel.
The gold spot index was up by 0.36% to $2,645.11 per ounce. The Dollar Index was down 0.09% to 108.155 level.
Most Asian Markets ended Thursday on a Mixed note.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42678014/top-7-blue-chip-stocks-with-the-best-return-potential-going-into-2025">S&amp;P 500 Hits 57 All-Time Highs In Record-Breaking 2024: Magnificent 7 Drive 30% Of Nasdaq&#8217;s Surge</a> 
Photo courtesy: Wikimedia

Equities

News

Futures

Economics

Federal Reserve

Pre-Market Outlook

Markets

Trading Ideas

ETFs

AMPG

BAOS

DRCT

HOUR

NFLX

RGTI

SBUX

TSLA

ZCAR

US Stocks Likely To Open In Red After Christmas Break But Analysts Still Expect A Santa Rally Into The New Year

SciSparc has entered into an agreement and plan of merger with AutoMax. AutoMax announces $13 million first delivery of JAC vehicles following regulatory approval for direct importation.

SPRC

SciSparc Says AutoMax Received Its First Shipment Of Vehicles Manufactured By Anhui Jianghuai Automobile Group

On Tuesday, December 24th, U.S. markets closed higher in an abbreviated Christmas Eve session, driven by gains in megacap and growth stocks, marking a continued Santa Claus rally. The Dow and Nasdaq logged four-session gains, while Tesla&#8217;s surge boosted the consumer discretionary sector. Chipmakers like Broadcom and Arm Holdings also advanced despite elevated U.S. Treasury yields.
Every sector of the S&amp;P 500 ended in positive territory, led by notable gains in consumer discretionary, financial, and information technology stocks.
In economic data, the U.S. Redbook index rose 5.9% year-over-year last week, up from 4.8%. Meanwhile, the Fifth District composite manufacturing index improved to -10 in December from -14.
The Dow Jones Industrial Average was up 0.91% and closed at 43,297.03, the S&amp;P 500 closed higher by 1.10% at 6,040.00, and the Nasdaq Composite gained 1.35% to finish at 20,031.13.
Asia Markets Today
<ul>
<li>On Thursday, Japan&#8217;s Nikkei 225 gained 1.39% and ended the session at 39,578.00, led by gains in the Shipbuilding, Automobiles &amp; Parts, and Chemical, Petroleum &amp; Plastic sectors.</li>
<li>Australia markets closed for the Boxing Day holiday.</li>
<li>India&#8217;s Nifty 50 rose 0.16% to 22,438.20, and Nifty 500 was up 0.14%, closing at 23,761.95, led by gains in the Auto, Power, and Public Sector Undertakings sectors.</li>
<li>China&#8217;s Shanghai Composite rose 0.14% to close at 3,398.08, and the Shenzhen CSI 300 gained 0.05%, finishing the day at 3,987.48.</li>
<li>Hong Kong market closed for the first weekday after Christmas Day.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 closed for the Boxing Day holiday.</li>
<li>German markets closed for the Boxing Day holiday.</li>
<li>France&#8217;s CAC closed for the Boxing Day holiday.</li>
<li>U.K.&#8217;s FTSE 100 closed for the Boxing Day holiday.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.61% at $70.53/bbl, and Brent was up 0.56% at $73.58/bbl.</li>
<li>Natural Gas fell 2.31% to $3.421.</li>
<li>Gold was trading higher by 0.36% at $2,645.09, Silver was up 0.19% to $30.340, and Copper rose 0.11% to $4.1147.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures were down 0.36%, S&amp;P 500 futures declined 0.39%, and Nasdaq 100 futures slid 0.42%.
Forex at 06:00 AM ET
The U.S. Dollar Index was down 0.04% to 108.16. USD/JPY rose 0.03% to 157.45, and USD/AUD rose 0.14% to 1.6048.
Photo by Pavel Bobrovskiy via Shutterstock

Asia

Emerging Markets

Eurozone

Commodities

Forex

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asian Markets Up, Europe Closed; Dollar Hovers Near 2-Year High - Global Markets Today While US Slept

<a href="https://www.globenewswire.com/Tracker?data=MvoSLa0RdJ-p44BY3TZ25mYKru5_318w0rZMXr5aH6I0DqWabfIEqtY-P3Do4r-ha3Ixwnyb-TlA3geaSdd-igUkFxl2N0FLfz6qXlXQEgw=">Hyperscale Data, Inc.</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPUS#NYSE">GPUS</a>), a diversified holding company ("Hyperscale Data" or the "Company"), today announced the completion of a $50 million preferred equity investment, whereby the Company sold that dollar amount through the issuance to Ault &amp; Company, Inc. ("Ault and Company") of 50,000 shares of Series C Convertible Preferred Stock (the "Series C Shares").&nbsp;Ault &amp; Company&nbsp;has invested $50 million through multiple closings over the past thirteen (13) months. This strategic influx of capital has enabled Hyperscale Data to accelerate its growth trajectory, enhance its technological offerings, and execute its business expansion plans more effectively, with a focus on becoming a pure AI data center company. The Company would like to remind its stockholders that on March 25, 2024, the Company and Ault and Company agreed to raise the aggregate offering of Series C Shares from $50 million to $75 million. This offering is continuing apace, but the Company cannot assure you when Ault and Company will complete the remaining purchases of $25 million in Series C Shares, if at all.

GPUS

Hyperscale Data Secures $50M Investment, Eyes AI Data Center Growth

In addition to this significant investment, Hyperscale Data is strategically spinning out all of its non-data center and non-Bitcoin mining assets. This move is aimed at refining the Company's core focus and reinforcing its commitment to leading the AI-driven data center industry.
 &nbsp;

Hyperscale Data Closes $50M Of Aggregate $75M Preferred Equity Investment From Ault & Company; Says It Is Strategically Spinning Out All Of Its Non-Data Center And Non-Bitcoin Mining Assets

Meiwu Technology Regains Compliance With Nasdaq Listing Rule, Which Requires Ordinary Shares To Maintain Minimum Bid Price

Shares of&nbsp;MicroStrategy Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) dropped by 4.08% following the company&#8217;s announcement to issue more shares to finance additional Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) acquisitions. This move aligns with MicroStrategy&#8217;s ongoing strategy to bolster its Bitcoin reserves.
What Happened: MicroStrategy&#8217;s recent filing&nbsp;with the U.S. Securities and&nbsp;Exchange Commission (SEC) aims to expand&nbsp;the authorized number of Class&nbsp;A&nbsp;common stock from 330 million&nbsp;to 10.33 billion units and&nbsp;preferred stock from 5 million&nbsp;to over 1 billion units.&nbsp;This move underscores the company&#8217;s transition from a software enterprise&nbsp;to a major Bitcoin investor.
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42664692/bitcoin-flat-ethereum-dogecoin-spike-ahead-of-christmas-analyst-says-decline-in-btc-dominance-leaves-room-for-altcoins-to-pick-up?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Flat, Ethereum, Dogecoin Spike Ahead Of Christmas: Analyst Says Decline In BTC Dominance Leaves &#8216;Room For Altcoins To Pick Up&#8217;</a>
The company recently acquired&nbsp;$561 million worth of Bitcoin,&nbsp;marking its seventh consecutive week&nbsp;of purchases, with total holdings now estimated at $40 billion. Despite Bitcoin&#8217;s 135% increase this year, market volatility is expected as $43 billion in&nbsp;Bitcoin and Ether derivatives are&nbsp;due to expire on Friday.
Meanwhile, Bitcoin Thursday during pre-market hours was trading at $95,621.41. The cryptocurrency briefly hit an intraday peak of $99,876.70. A broader cryptocurrency index, which includes tokens such as Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), also experienced a minor recovery, rising by 0.2%.
Why It Matters: MicroStrategy&#8217;s decision to issue more shares comes on the heels of its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42660092/microstrategy-sinks-after-nasdaq-100-inclusion-bitcoin-bet-under-fire">recent inclusion in the Nasdaq 100</a>, which has not been without challenges. The company&#8217;s stock fell over 8.5% on its debut in the index, marking a difficult start to its tenure. Over the past month, MicroStrategy&#8217;s stock has plunged more than 37% from its all-time high, reflecting investor concerns over its aggressive Bitcoin strategy. The company&#8217;s recent sale of $561 million in common stock to purchase an additional 5,262 Bitcoins at an average price of $106,662 per coin has further intensified scrutiny.
The latest analyst ratings for MicroStrategy Inc were issued by Bernstein on Dec.12, and by both TD Cowen and Barclays on Nov. 25. These analysts, <a href="https://www.benzinga.com/quote/MSTR/analyst-ratings">tracked by Benzinga</a>, have set an average price target of $546.67, suggesting a potential upside of 58.01% for the stock.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/26062848/Screenshot-2024-12-26-at-4.58.41%E2%80%AFPM-1024x364.png" alt="" class="wp-image-707471" /></figure>
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42673114/bitcoins-outperformance-could-leave-dogecoin-shiba-inu-sidelined-but-propel-pepe-dogwifhat-bonk-to-new-highs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Outperformance Could Leave Dogecoin, Shiba Inu Sidelined, But Propel Pepe, Dogwifhat, Bonk To New Highs</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

General

$BTC

$DOGE

$ETH

$SOL

MSTR

MicroStrategy Stock Tumbles Over 4% In Thursday Premarket: What's Going On?

Macro Economic Events

Econ #s

France Jobseekers Total For November 2,935.0K  Vs. 2,891.5K Prior

HC Wainwright &amp; Co. analyst Raghuram Selvaraju maintains Anavex Life Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) with a Buy and raises the price target from $40 to $42.

Price Target

Analyst Ratings

AVXL

HC Wainwright & Co. Maintains Buy on Anavex Life Sciences, Raises Price Target to $42

Chinese EV startup Nio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) launched its new lower-priced EV brand Onvo in May this year. The brand started selling its first vehicle- the Onvo L60- in late September and since then, Nio sales have been on the rise.
What Happened: The Onvo L60 is a mid-size electric SUV that starts at 206,900 yuan ($28,347) with the battery pack included, much lower than Tesla&#8217;s affordable models Model 3 or Model Y in China.
In September, Nio delivered 832 Onvo L60s despite having only a few selling days. In October, the first full month of sales, Onvo deliveries rose to 4,319. In November, L60 deliveries rose to 5,082, implying demand for the vehicle. 
In August, the month before Onvo deliveries commenced, Nio delivered 20,176 vehicles, marking a growth of just 4.4% year-on-year.
In September, the first month of Onvo L60 deliveries, Nio&#8217;s total deliveries jumped 35.4% as compared to the corresponding period last year. In October and November, deliveries <a href="https://www.benzinga.com/24/12/42260165/li-auto-xpeng-nio-heres-how-november-deliveries-of-chinese-ev-startups-stack-up">marked an increase of 30.5% and 29%</a>, respectively.
Why It Matters: Nio identifies itself as a premium EV brand. Its ET9, for instance, starts at 788,000 yuan, including the battery. 
The low-cost EV from the company&#8217;s Onvo brand has helped it move to the low-cost EV segment which has significant demand.
Earlier this month, Nio also <a href="https://www.benzinga.com/24/12/42550944/whats-going-on-with-nio-stock-today">launched a new brand called Firefly</a>, touted as a rival to Mercedes&#8217; Smart and BMW&#8217;s Mini. The brand&#8217;s first vehicle shares its name and pre-sales started at a price of 148,800 yuan. It is expected to be launched in April 2025.
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:
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42668333/tesla-model-x-lucid-gravity-or-rivian-r1s-which-three-row-electric-suv-is-a-better-buy" target="_blank" rel="noreferrer noopener">Tesla Model X, Lucid Gravity Or Rivian R1S: Which Three-Row Electric SUV Is A Better Buy?</a></li>
</ul>
Photo courtesy: Nio

Tech

Nio's Onvo Brand Helps Spur Delivery Growth With Cheaper Offering

HC Wainwright &amp; Co. analyst Raghuram Selvaraju maintains PolyPid (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPD#NASDAQ">PYPD</a>) with a Buy and lowers the price target from $14 to $11.

PYPD

HC Wainwright & Co. Maintains Buy on PolyPid, Lowers Price Target to $11

Raymond James analyst C. Gregory Peters maintains Kemper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMPR#NYSE">KMPR</a>) with a Strong Buy and raises the price target from $75 to $82.

KMPR

Raymond James Maintains Strong Buy on Kemper, Raises Price Target to $82

Earnings

NVNI

Nvni Group Reported FY23 Revenue Growth Of 36% YoY

SATS

Microelectronics Technology Enters Strategic Partnership With EchoStar To Advance Development Of Energy-Efficient Open RAN Macro Radios With NTIA Grant

HC Wainwright &amp; Co. analyst Raghuram Selvaraju upgrades RAPT Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAPT#NASDAQ">RAPT</a>) from Neutral to Buy and maintains the price target from $10 to $10.

Upgrades

RAPT

HC Wainwright & Co. Upgrades RAPT Therapeutics to Buy, Maintains Price Target to $10

Demand for <a target="_blank" href="https://www.benzinga.com/topic/ai" rel="noreferrer noopener">artificial intelligence-enabled</a> smartphones could serve as a buffer for parts of the semiconductor industry against a potential slowdown in data center investments, Financial Times <a target="_blank" href="https://www.ft.com/content/54c3d188-9c5d-4664-94c4-366207ef9aad" rel="noreferrer noopener">cites</a> Doug Lefever, CEO of Advantest, a Japanese supplier of chip testing equipment for Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Lefever expressed concern over possible dips in spending by <a target="_blank" href="https://www.benzinga.com/news/24/09/41066968/microsoft-google-meta-pave-path-to-ai-expansion-nvidia-and-broadcom-set-to-reap-benefits" rel="noreferrer noopener">major U.S. tech companies</a>, such as Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), 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>) Google, and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which have been driving the construction of advanced data centers.
Lefever told the FT that while fluctuations in data center spending may not last long, any decline could significantly disrupt the semiconductor supply chain due to its reliance on hyperscalers.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42675098/netflix-takes-vmware-to-court-over-patent-infringement-claims" rel="noreferrer noopener">Broadcom and Netflix Clash Over Patent Disputes Ahead of 2025 Trial</a>
He added that the industry&#8217;s cyclical nature could lead to what he described as &#8220;vicious&#8221; downturns. However, he remained optimistic about the potential growth of AI smartphones, suggesting that a breakthrough application could rapidly drive consumer demand and spark a wave of handset replacements.
Advantest, headquartered in Tokyo, holds over 50% of the semiconductor testing market and has benefited from the rising complexity and cost of chips.
Lefever highlighted the growing complexity of chip testing, with Nvidia&#8217;s latest Blackwell products requiring three to four times longer to test than previous generations, as a key driver of sustained demand for Advantest&#8217;s solutions.
The company&#8217;s success extends to high-end testing equipment, which costs $1 million per unit and boasts a market share exceeding 60% in specific categories. Despite geopolitical challenges, such as U.S. restrictions on China, Lefever told the FT that increased demand elsewhere quickly offset lost sales in China. He emphasized that Advantest remains well-positioned globally, with operations in 18 countries and a diversified customer base.
Apple began introducing its <a target="_blank" href="https://www.benzinga.com/news/24/10/41526650/apples-ai-powered-future-iphone-growth-surge-by-2026-with-new-iphone-17-ai-integration-analyst-says" rel="noreferrer noopener">Apple Intelligence features</a> on October 28 with the launch of iOS 18.1, offering initial AI functionalities.
The rollout will continue with iOS 18.2, including ChatGPT integration and advanced tools like Visual Intelligence and Genmoji, aiming to boost future sales.
Needham&nbsp;analyst Laura Martin expects Apple iPhone to account for up to 96% of the <a target="_blank" href="https://www.benzinga.com/news/24/09/41005053/apple-iphone-to-fuel-96-of-2025-revenue-analyst-says-a-safer-bet-than-ai-heavy-amazon-alphabet-micro" rel="noreferrer noopener">company&#8217;s 2025 revenue</a>.
International Data Corporation (IDC) had <a target="_blank" href="https://www.benzinga.com/news/24/08/40600289/apples-market-share-poised-to-gain-genai-and-iphone-16-lead-the-way-idc" rel="noreferrer noopener">reignited confidence in</a> smartphone manufacturers, including Apple, with a new market forecast projecting a 5.8% rise in global smartphone shipments to 1.23 billion units in 2024, recovering after two tough years.
The report highlighted increased demand for budget Android smartphones in China and emerging markets and strong adoption of generative AI smartphones in premium markets as key growth drivers.
Also Read:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42672262/hive-digital-boosts-ai-ambitions-with-30-million-nvidia-gpu-deployment" target="_blank" rel="noreferrer noopener">HIVE Digital Boosts AI Ambitions With $30 Million Nvidia GPU Deployment</a></li>
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