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ZA Group Inc is a brand development company focused on acquiring direct-to-consumer (DTC) brands that deliver compelling products in fashion, street, wellness, home, active and outdoor lifestyle sectors. Its goal is to take these brands to the next level whether it owns, license or manage them.

ZA Group Inc

Cognizant (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>) announced its strategic partnership with Hays, the world&#39;s leading specialist in workforce solutions and recruitment. This significant partnership aims to transform Hays&#39; technology landscape and enhance its operational efficiency and innovation capabilities.
Hays is on a mission to transform and evolve into a globally integrated business, with IT and data as a pivotal driving force. As the global technology partner, Cognizant will deliver enhanced technologies to support Hays&#39; operational delivery and integrated processes that align with the business&#39;s evolving needs.
This deal encompasses supporting Hays&#39; Applications, Infrastructure and Transformation journey globally. Cognizant will aim to implement a modern and secure technology environment that will enable an excellent customer experience, and provide valuable data insights to enable Hays&#39; customers and people to succeed, enhancing efficiency and supporting future business growth.
&quot;We are thrilled to be selected as the strategic technology partner for Hays. We aim to develop a strategic and global perspective to manage key business risks effectively. Enhancing technology capabilities and governance will make Hays more agile toward business needs and foster innovation. Additionally, increasing transparency into technology globally will support better financial planning and execution for the company,&quot; said&nbsp;Rohit Gupta, Managing Director UK &amp;&nbsp;Ireland, Cognizant.
Established in the UK and operating in over 30 countries, Hays specialises in permanent recruitment and temporary staffing across various industry segments and geographies.

News

CTSH

Hays Teams Up with Cognizant for Global Tech Transformation and Innovation

With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) to report quarterly earnings at $3.07 per share on revenue of $6.61 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. McDonald&#8217;s shares fell 0.3% to $251.18 in after-hours trading.</li>
<li>Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) reported a secondary offering of 41,604,207 shares of common stock. Nasdaq shares fell 2.6% to $65.25 in the after-hours trading session.</li>
<li>Analysts are expecting ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) to post quarterly earnings at 92 cents per share on revenue of $1.73 billion. The company will release earnings before the markets open. ON Semiconductor shares rose 1.2% to $70.98 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Pitney Bowes Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBI#NYSE">PBI</a>) shares moved higher during Friday's after-hours trading following a report indicating that the company has sold a part of its e-commerce business to Stord. Pitney Bowes shares jumped 12.6% to $7.59 in the after-hours trading session.</li>
<li>Analysts expect Sprouts Farmers Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFM#NASDAQ">SFM</a>) to post quarterly earnings at 78 cents per share on revenue of $1.83 billion after the closing bell. Sprouts Farmers Market shares gained 1% to $87.55 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39984491/nvidia-lockheed-martin-and-2-other-stocks-insiders-are-selling">Nvidia, Lockheed Martin And 2 Other Stocks Insiders Are Selling</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

Markets

Trading Ideas

NDAQ

McDonald's, ON Semiconductor And 3 Stocks To Watch Heading Into Monday

As the market is seeing a consolidation phase <a href="https://www.benzinga.com/news/earnings/24/07/39993819/tech-stocks-slide-on-earnings-us-economy-flexes-muscles-small-cap-rally-continues-this-week-in-the-">following a strong surge,</a> the question in the minds of investors is whether the rally has stalled. President and Chief Investment Strategist of Yardeni Research Ed Yardeni offered a sober near-term outlook and a bullish prediction for the year-end.
Whither Goes Market? &#8220;Our hunch is that the stock market will continue to churn around current levels, rotating and remaining below its July 16 record high of 5667.20 through the presidential election,&#8221; said Yardeni in the firm&#8217;s weekly market update on Sunday, co-authored with Eric Wallerstein. &#8220;We expect a strong yearend rally to deliver a new record high,&#8221; they said.
The market has ignored the geopolitical tension stirred up on Saturday when a rocket strike from Lebanon killed 12 people in Israel&#8217;s Golan Heights and the retaliation by Israel, the strategists said. Instead, the stock market is laser-focused on the &#8220;upturn in earnings since early 2023, stretched valuations, and a rotation out of mega-cap stocks to large-caps and SMID-caps amid expectations that the Fed will cut rates in September, they added.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Earnings Cheer: The strategists delved into the positive earnings catalyst, as they noted that consensus 2024, 2025 and 2026 earnings expectations for the companies constituting the S&amp;P 500 Index rose in the latest week. Therefore, the forward earnings rose to yet another new high in the week of July 25, they said.
The S&amp;P 500&#8217;s forward P/E multiple is at an elevated 20.6, inflated by the 30 times multiple for the mega-cap-8 stocks &#8211; the Magnificent Seven + Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Yardeni and Wallerstein said. Excluding these eight, the other 492 stocks in S&amp;P are trading at a more modest 18.5 times multiple, they said.
The strategists noted that S&amp;P smid-caps have seen their earnings for a couple of years flatline and about 40% of the Russell 2000 names were losing money currently.
&#8220;Put simply with the levels of bullishness the sentiment indicators got to about a week ago it&#8217;s tough to be anything but cautious on the stock market,&#8221; said Joe Feshbach, a market consultant for Yardeni Research.
&#8220;Couple this with the parabolic look in tech stocks and the market should be in for tough sledding for a while.&#8221;
Why It&#8217;s Important: The stock market has been on an extended run since the start of 2023, with the rally fueled primarily by mega-cap stocks as the artificial intelligence revolution took a firm hold. Given the overbought levels, the onus of sustaining the rally lies with the <a href="https://www.benzinga.com/money/best-small-cap-stocks">smid-cap stocks </a>that have been left behind in the recent rally. This in turn will hinge on the Federal Reserve relenting. 
The Federal Open Market Committee, the policy-setting arm of the central bank, is scheduled to hold a two-day meeting beginning on Tuesday. The futures market is pricing in only a 4% probability of a rate cut at the July meeting but a 100% probability of a September cut, with the highest probability (about 86%) accorded to a quarter-point cut.
This could serve to energize the rally going into the seasonally strong year-end period when the market benefits from a host of factors including year-end window-dressing by funds, investment of holiday bonuses and general holiday cheer. This time around the market move might also be influenced by the outcome of the general election.
The Street-high year-end target for the S&amp;P 500 Index is 6,000, which suggests roughly 10% upside from the current levels. 
The 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 Index, ended Friday&#8217;s session at 544.44, up 1.12%, according to Benzinga Pro data. The exchange-traded fund has gained over 15% for the year-to-date period.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/07/40001872/homebuilder-stocks-rally-to-record-highs-on-rate-cut-frenzy-but-housing-sales-still-struggle">Homebuilder Stocks Rally To Record Highs On Rate-Cut Frenzy But Housing Sales Still Struggle</a></li>
</ul>
Photo via Shutterstock

NFLX

S&P 500 Likely To End Year Strong, But Election Uncertainty May Cause Short-Term Volatility, Says Yardeni: 3 Key Factors Investors Are Watching

SpaceX CEO Elon Musk said on Saturday that its rival Boeing Co. is awarded government contracts in the <a href="https://www.benzinga.com/news/24/07/39979702/return-of-astronauts-aboard-boeings-starliner-uncertain-even-after-50-days-of-launch-nasa-hints-at-p">space segment</a> owing to their &#8220;armies of lobbyists&#8221; despite safety concerns around its commercial plane segment.
What Happened: &#8220;They have armies of lobbyists,&#8221; Musk wrote in response to an X user who wondered why Boeing is awarded big contracts from the government despite the issues flagged with its passenger flight segment. 
&#8220;Not sure why Boeing (given their track record with passenger flights) is given such contracts when SpaceX (given their track record with launches) is just vastly superior,&#8221; Dhaval Shroff wrote. Shroff is also an employee at Musk&#8217;s Tesla. 
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">They have armies of lobbyists
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1817403167232987374?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The comments on Boeing&#8217;s alleged incompetence relative to SpaceX come amid safety issues plaguing its commercial airplane segment and technical issues identified with its Starliner spacecraft.
Boeing <a href="https://www.benzinga.com/news/24/06/39473620/a-month-back-elon-musk-said-boeing-was-weighed-down-by-too-many-non-technical-managers-fast-forward">launched its Starliner spacecraft </a>in early June with two astronauts &#8211; Sunita Williams and Butch Wilmore. Though they were initially estimated to return on June 14, the return dates have been delayed time and again owing to issues of helium system leaks and thruster performance identified with the Starliner spacecraft while docking with the International Space Station (ISS.)
NASA is currently trying to study the risks associated with these issues before returning the astronauts.
Last week, NASA&#8217;s Commercial Crew Program manager&nbsp;Steve Stich said that they haven&#8217;t ascertained a return date yet. While the focus is on returning the astronauts aboard Starliner itself, using SpaceX&#8217;s Dragon spacecraft to return the astronauts in case the Starliner can&#8217;t is also a possibility, Stich said. 
Why It Matters: NASA awarded both Boeing and SpaceX contracts to enable transportation to and from the ISS after retiring its space shuttle.&nbsp;SpaceX sent its first crewed mission to the ISS in 2020 on its Dragon spacecraft and has since then undertaken multiple missions,&nbsp;<a href="https://www.benzinga.com/news/24/05/38664485/spacex-ceo-elon-musk-blames-boeings-starliner-delay-on-too-many-non-technical-managers" target="_blank" rel="noreferrer noopener">overtaking its traditional rival</a>.
Boeing's Starliner spacecraft has been marred by&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38659763/boeings-starliner-crewed-test-flight-postponed-due-to-technical-issue-continuing-challenges-in-s" target="_blank" rel="noreferrer noopener">several delays</a>&nbsp;since the start. The spacecraft was supposed to have its first uncrewed test flight in 2015 which was delayed up to 2019. The spacecraft then failed to achieve its intended orbit. In 2022, the spacecraft completed its first successful uncrewed flight to the International Space Station.
If the ongoing crewed flight test is successful, Boeing will become the next private company to shuttle astronauts to and from the ISS for NASA, like SpaceX.
Musk has previously pegged the delay on Starliner on "<a href="https://www.benzinga.com/news/24/05/38664485/spacex-ceo-elon-musk-blames-boeings-starliner-delay-on-too-many-non-technical-managers">too many non-technical managers</a>" at Boeing.
"Although Boeing got $4.2 billion to develop an astronaut capsule and SpaceX only got $2.6 billion, SpaceX finished 4 years sooner," Musk said in May. "Too many non-technical managers at Boeing."
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 More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39977028/elon-musks-spacex-to-resume-launch-operations-two-weeks-after-mishap-involving-20-starlink-satellite" target="_blank" rel="noreferrer noopener">Elon Musk's SpaceX To Resume Launch Operations Two Weeks After Mishap Involving 20 Starlink Satellites</a></li>
</ul>
Photos courtesy: Shutterstock and NASA

SPACE

Tech

Boeing Wins Space Mission Contracts Owing To Its 'Armies Of Lobbyists,' Says SpaceX CEO Elon Musk Amid Starliner Return Delay

Melinda French Gates criticized the philanthropic efforts of billionaires like Tesla Inc. CEO Elon Musk and Palantir Technologies co-founder Peter Thiel, stating that they are not doing enough to give back to society.
What Happened: French Gates, co-chair of the Gates Foundation, expressed her views on the philanthropic efforts of the new generation of billionaires, including Musk and Thiel, in an <a href="https://www.nytimes.com/2024/07/28/magazine/melinda-french-gates-interview.html">interview</a> with The New York Times. She stated that these billionaires primarily use their &#8220;megaphones.&#8221;
Melinda was asked about the generational differences between older billionaire activists like Warren Buffett, Bill Gates, and herself, who have a traditional approach to philanthropy, and the newer generation of activists such as Musk, Jack Dorsey, the co-founder of Twitter, Bill Ackman, the CEO of Pershing Square, and Thiel. The question raised whether there is a noticeable shift among the superwealthy in how they perceive and utilize their influence in society.
When asked about the philanthropic approach of these &#8220;billionaire activists,&#8221; French Gates responded, &#8220;Well, the people you just named have not been very philanthropic yet. They use their voice and they use their megaphones, but I would not call those men philanthropists.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/40001800/musk-appears-to-violate-own-social-media-platforms-guidelines-posts-manipulated-video-of-kamala-harr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Appears To Violate Own Social Media Platform&#8217;s Guidelines, Posts Manipulated Video of Kamala Harris</a>
She also addressed Musk&#8217;s criticism of her political endorsements, calling it &#8220;silly.&#8221; French Gates endorsed President Joe Biden in the 2024 election and has since endorsed Vice President Kamala Harris, emphasizing the need for a leader who will advocate for abortion rights.
Why It Matters: Musk has criticized French Gates&#8217; political activities in the past. In June, <a href="https://www.benzinga.com/news/24/06/39443853/elon-musk-thinks-scorned-billionaire-wife-to-democrat-activist-could-be-downfall-of-western-civiliza">he took to X</a> to express his views on French Gates&#8217; political leanings and her support for President Biden, hinting at a potential impact on Western civilization. This was after French Gates announced her intention to endorse Biden in the 2024 election.
French Gates has been an outspoken advocate for women&#8217;s rights and reproductive rights in the United States. After the U.S. Supreme Court overturned Roe v. Wade, she emphasized the <a href="https://www.benzinga.com/news/24/06/39392292/melinda-french-gates-voting-for-biden-not-trump-in-2024-election-cannot-vote-for-a-man-who-rolls-bac">importance of these issues in the 2024 election</a> and announced her support for Biden, stating that she &#8220;cannot vote for a man who rolls back women&#8217;s reproductive rights.&#8221;
French Gates&#8217; philanthropic efforts and advocacy for women&#8217;s rights have been a significant focus since her divorce from Bill Gates in 2021. After playing a prominent role in the Gates Foundation, she recently announced her <a href="https://www.benzinga.com/news/24/05/38798008/melinda-french-gates-to-resign-as-gates-foundation-co-chair-plans-to-continue-her-own-philanthropic">intention to step down</a> as co-chair to pursue her own philanthropic projects.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39977576/tesla-says-using-wet-cloth-on-supercharger-cables-does-not-increase-charging-speeds-warns-customers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Says Using Wet Cloth On Supercharger Cables Does Not Increase Charging Speeds, Warns Customers Of &#8216;Risk Of Overheating Or Damage&#8217;</a></li>
</ul>
Photos courtesy: Shutterstock and Wikimedia
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

General

Elon Musk, Peter Thiel, Bill Ackman Not 'Philanthropists' According To Melinda French Gates: 'They Use Their Voice And Megaphones,' Draws Difference Between Old Billionaires Warren Buffett And Bill Gates

McDonald's Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) will release its second-quarter financial results, before the <a href="https://www.benzinga.com/quote/MCD/earnings">opening bell on Monday, July 29.</a>
Analysts expect quarterly earnings at $3.07 per share. That's down from $3.17 per share in the year-ago period. McDonald's expects to post revenue of $6.61 billion, compared to $6.27 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
McDonald's just declared a quarterly cash dividend of $1.67 per share of common stock payable on Sept. 17 to shareholders of record on Sept. 3.
McDonald's shares rose 0.2% to close at $252.00 on Friday.
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/MCD/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Stifel analyst Chris O'Cull maintained a Hold rating and cut the price target from $285 to $265 on July 22. This analyst has an accuracy rate of 73%.</li>
<li>Citigroup analyst Jon Tower maintained a Neutral rating and slashed the price target from $297 to $280 on July 16. This analyst has an accuracy rate of 72%.</li>
<li>Deutsche Bank analyst Lauren Silberman maintained a Buy rating and cut the price target from $310 to $295 on July 16. This analyst has an accuracy rate of 73%.</li>
<li>JP Morgan analyst John Ivankoe maintained an Overweight rating and slashed the price target from $300 to $290 on July 10. This analyst has an accuracy rate of 72%.</li>
<li>Truist Securities analyst Jake Bartlett maintained a Buy rating and slashed the price target from $320 to $300 on July 9. This analyst has an accuracy rate of 73%.</li>
</ul>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39984459/top-3-risk-off-stocks-that-are-set-to-fly-in-july">Top 3 Risk Off Stocks That Are Set To Fly In July</a></li>
</ul>

Price Target

Analyst Ratings

McDonald's Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Outlook
2024 Outlook reaffirmed4 
Group underlying sales growth, adjusted operating profit and tax outlook for 2024 remain in line with market expectations. As guided, interest will be c.&pound;45m and free cash flow conversion 95-100%.
In terms of divisional guidance and phasing:
<ul>
<li>Expect improved growth momentum in the second half of 2024 with the growth of Higher Education and normalised comparators for the assessments businesses.</li>
<li>In Assessment &amp; Qualifications, we continue to expect low to mid-single digit sales growth for the year, with sales growth weighted to H2.</li>
<li>In Virtual Schools, we continue to expect sales to decline at a similar rate to 2023, given the previously cited loss of a larger partner school for the 2024/25 academic year. We expect Virtual Schools to return to growth in 2025 and beyond.</li>
<li>In Higher Education, we remain confident we will return to growth in the second half and for the full year. Growth in digital sales will continue to shift revenue recognition from Q3 to Q4.</li>
<li>In English Language Learning, we continue to expect high single digit sales growth and growth weighted to the second half given the outstanding performance in the first half of 2023. The growth will be driven mainly by Institutional, with PTE being flat to down.</li>
<li>In Workforce Skills, we expect to achieve high single digit sales growth.</li>
<li>Every 1c movement in &pound;:$ rate equates to approximately &pound;5m adjusted operating profit impact</li>
</ul>

Guidance

Pearson Reaffirms 2024 Outlook: Sales Growth, Profit, And Tax In Line With Market Expectations; Expects Free Cash Flow Conversion Of 95-100%

Editor&#8217;s note: The article has been updated with Nvidia&#8217;s response.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is reportedly in the process of creating a new AI chip, designed to comply with U.S. export controls, specifically for the Chinese market.
What Happened: According to anonymous sources, Jensen Huang&#8217;s Nvidia is teaming up with Inspur, a significant distribution partner in China, to launch and distribute the new chip, provisionally named &#8220;B20.&#8221; The chip is a part of Nvidia&#8217;s &#8220;Blackwell&#8221; series, launched in March, and is set to be mass-produced later this year, Reuters reported on Monday. The B200, a chip within the series, is said to be 30 times faster than its predecessor at certain tasks.
This development follows Washington&#8217;s decision to tighten its controls on semiconductor exports to China in 2023. Since then, Nvidia has created three chips specifically for the Chinese market. The new chip could enhance Nvidia&#8217;s efforts to combat competition from Chinese tech giant Huawei and Tencent-backed startup Enflame.
China contributed to roughly 17% of Nvidia&#8217;s revenue in the year ending January, a decrease from 26% two years prior, due to U.S. sanctions. Despite a slow start, Nvidia&#8217;s most advanced chip for China, the H20, is anticipated to sell over 1 million units this year, generating over $12 billion, as per research group SemiAnalysis.
It is widely expected that the U.S. will continue to apply pressure on semiconductor-related export controls, with initial plans to impose restrictions around the most advanced AI Models.
Nvidia declined to comment on this.
See Also: <a href="https://www.benzinga.com/news/24/07/39830453/days-after-elon-musk-deemed-university-of-tokyos-idea-pointless-scientists-develop-smiling-robot-wit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Days After Elon Musk Deemed University Of Tokyo&#8217;s Idea &#8216;Pointless,&#8217; Scientists Develop Smiling Robot With Living Skin</a>
Why It Matters: The development follows another report that revealed Google and Microsoft are providing<a href="https://www.benzinga.com/news/24/07/39822184/google-and-microsoft-provide-nvidia-chip-access-to-chinese-firms-despite-u-s-restrictions-report"> Chinese companies access</a> to Nvidia AI chips through data centers outside China, despite U.S. restrictions. This was seen as a workaround to the Biden administration&#8217;s restrictions aimed at preventing Chinese firms from utilizing U.S. technology for artificial intelligence, particularly advanced semiconductors.
In July, Nvidia was on track to <a href="https://www.benzinga.com/government/24/07/39646273/is-nvidia-defying-us-export-controls-whats-going-on">sell $12 billion</a> of artificial intelligence chips in China this year despite the U.S. export controls.
Back in May, the Chinese government<a href="https://www.benzinga.com/markets/equities/24/05/38809034/china-urges-tech-giants-to-shift-away-from-nvidia-and-other-foreign-chip-makers-boost-domestic-a"> had urged its tech giants</a> to reduce their reliance on foreign-made chips, particularly those from Nvidia, and increase their purchase of domestic AI chips.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, Nvidia closed at $117.93 on Friday.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39872729/nvidias-potential-50-trillion-valuation-tesla-and-xais-ai-expansion-plans-and-microsofts-trillion-do?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Potential $50 Trillion Valuation, Tesla And xAI&#8217;s AI Expansion Plans, And Microsoft&#8217;s Trillion-Dollar Tech: This Week In Artificial Intelligence</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Global

NVDA

Nvidia Reportedly Developing A New Version Of Its Flagship AI Chip For Chinese Market Amid US Export Restrictions (UPDATED)

Pearson H1 2024 Adj. EPS 25.6p Flat YoY, Revenue £1.754B Down From £1.879B YoY

Contracts

ESLT

Elbit Systems Secures $190M Contract To Supply Iron Sting Guided Mortar Munition To The Israeli Ministry Of Defense

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advocate Vivek Ramaswamy predicted at least a 1% jump in former President Donald Trump's vote share following his massive support for the cryptocurrency industry at a recent conference.
What Happened: Ramaswamy, who was in the fray for a while as the potential Republican presidential candidate for the upcoming elections, said in an X post Sunday that pro-Bitcoin and pro-cryptocurrency voters, who may not be represented in polls, may rally around Trump in this year&#8217;s elections.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">2 predictions: 1. Trump will enjoy a boost from pro-Bitcoin &amp; pro-crypto voters that doesn't show up in the polling, by at least 1% or more. 2. Kamala Harris will now scramble to come up with some phony "digital asset" policy framework to pander to pro-crypto voters. <a href="https://t.co/3zWF079bPV">pic.twitter.com/3zWF079bPV</a>
&mdash; Vivek Ramaswamy (@VivekGRamaswamy) <a href="https://twitter.com/VivekGRamaswamy/status/1817327179685921094?ref_src=twsrc%5Etfw">July 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Ramaswamy posted a short video of Trump's keynote address at the Bitcoin 2024 conference, where the former President can be seen acknowledging the growing cryptocurrency demographic, and the need to be "nice" to them.
At the same time, the Republican took a stab at Democratic presidential nominee Kamala Harris, saying that the incumbent vice president would devise a &#8220;phony&#8221; policy to win back the cryptocurrency vote.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi">Trump Says Bitcoin Will &#8216;Skyrocket Like Never Before&#8217; If He Returns To The White House, Promises To Fire SEC Chair Gary Gensler On Day 1</a>
Why It Matters: Ramaswamy, a biotech entrepreneur, <a href="https://www.benzinga.com/general/politics/23/12/36405099/trumps-new-buddy-in-2024-race-ramaswamy-catches-his-eye-despite-tv-ad-pullback-he-will-i-am-sure">announced his campaign</a> for the presidency in the 2024 election and was viewed as a potential candidate who could defeat Trump in the primary.
Eventually, Trump rose to become the Republican candidate, and <a href="https://www.benzinga.com/news/24/03/37810694/trump-rules-out-vivek-ramaswamy-as-vp-but-the-bitcoin-advocate-could-still-end-up-in-an-important-po">Ramaswamy also failed to secure the vice-presidential spot</a>. 
Ramaswamy has been vocal about his concerns regarding Central Bank Digital Currencies, seen as an anathema by cryptocurrency advocates.
During the recent Bitcoin 2024 conference, Trump promised to end efforts by the U.S. government to create a CBDC. Additionally, he advocated for setting up a national Bitcoin stockpile and laid out plans to make the country the cryptocurrency capital of the world.
Price Action: At the time of writing, Bitcoin was trading at $69,752.48, rising 3.49% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image via Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002999/bitcoin-ethereum-dogecoin-move-sideways-as-trump-raises-pro-crypto-pitch-why-does-this-ana">Bitcoin, Ethereum, Dogecoin Move Sideways As Trump Raises Pro-Crypto Pitch &#8211; Why Does This Analyst Think Longing King Crypto Could Soon Be A Good Option?</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Politics

$BTC

Pro-Bitcoin Demographic Will Boost Trump's Vote Share By At Least 1%, Predicts Vivek Ramaswamy

Through this partnership, Palantir Foundry and Palantir Artificial Intelligence Platform (AIP) will support TES in supply chain management, simulation and scenario modeling for investment optimization, site selection, asset management, carbon emissions tracking, and modeling the energy transformation pipeline.

PLTR

Palantir And Tree Energy Solutions Announce Multi-Year AI Partnership To Accelerate Global Decarbonization Efforts

Elon Musk&#8216;s SpaceX resumed launch activities over the weekend after a <a href="https://www.benzinga.com/news/24/07/39977028/elon-musks-spacex-to-resume-launch-operations-two-weeks-after-mishap-involving-20-starlink-satellite">two-week-long pause</a> with three back-to-back Starlink mission launches. 
What Happened: SpaceX launched three back-to-back Starlink missions on Saturday and Sunday, taking 67 Starlink satellites in total to low-Earth orbit. While two of the missions were launched from Florida, the third was launched from California. 
The three launches come after a two-week-long pause. 
SpaceX launched Falcon 9 with 20 Starlink satellites from California on July 11. However, the Starlink satellites were deployed in a&nbsp;<a href="https://www.benzinga.com/news/24/07/39766325/starlink-satellites-from-thursdays-launch-will-fully-demise-in-earths-atmosphere-says-elon-musks-spa" target="_blank" rel="noreferrer noopener">lower-than-intended orbit&nbsp;</a>owing to an issue with the rocket&#8217;s second-stage engine. The company's launch operations have been on hold since.
The resumption follows an investigation by the company into the root cause of the mishap with oversight from the Federal Aviation Administration (FAA). Necessary design changes have also been deployed to prevent a recurrence of the issue, SpaceX said last week. 
Musk Rejoices: &#8220;Back in the saddle!&#8221; SpaceX CEO Musk wrote on X after Saturday&#8217;s launch.
<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">Back in the saddle!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1817095154416619622?ref_src=twsrc%5Etfw">July 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The CEO also congratulated the team at SpaceX on Sunday for the three successful back-to-back launches.
<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">Congrats to the <a href="https://twitter.com/SpaceX?ref_src=twsrc%5Etfw">@SpaceX</a> Falcon team on completing 3 successful launches this weekend!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1817565274377203761?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters:&nbsp;SpaceX&nbsp;<a href="https://www.benzinga.com/news/24/07/39612042/elon-musks-spacex-launches-67-missions-in-first-half-of-2024-trailing-own-targets" target="_blank" rel="noreferrer noopener">completed 67 missions</a>&nbsp;using its Falcon launch vehicles as of the end of the second quarter, with its Falcon 9 workhorse alone accounting for 66 launches.&nbsp;&nbsp;The company is looking to launch 144 times in 2024, averaging twelve times per month.
With the three launches over the weekend, SpaceX has completed six missions in July. 
Starlink is the satellite internet segment of Musk&#8217;s SpaceX. It achieved a&nbsp;<a href="https://www.benzinga.com/news/23/11/35583773/spacex-ceo-elon-musk-says-starlink-business-has-achieved-breakeven-cash-flow-is-an-ipo-on-the-cards" target="_blank" rel="noreferrer noopener">breakeven cash flow</a>&nbsp;in November. 
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 More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39979702/return-of-astronauts-aboard-boeings-starliner-uncertain-even-after-50-days-of-launch-nasa-hints-at-p">Return Of Astronauts Aboard Boeing&#8217;s Starliner Uncertain Even After 50 Days Of Launch: NASA Hints At Possibility Of Using SpaceX&#8217;s Dragon Spacecraft To Bring Them Back</a></li>
</ul>
Photo courtesy: SpaceX

Elon Musk's SpaceX Resumes Big, Launches Three Starlink Missions Over Weekend, Placing 67 Satellites In Low Earth Orbit

Nicolas Maduro has secured a third term as the President of Venezuela. This outcome has sparked concerns about potential electoral fraud.
What Happened: The National Electoral Council of Venezuela declared Maduro the winner with 51% of the vote, despite multiple exit polls predicting an opposition victory, reported Reuters. Maduro&#8217;s main rival, Edmundo Gonzalez, was said to have secured 44% of the vote.
Maduro, addressing his supporters at the presidential palace, hailed his victory as a testament to peace and stability. He also pledged to initiate a &#8220;great national dialogue.&#8221;
However, U.S. Secretary of State Antony Blinken expressed &#8220;serious concerns&#8221; about the election results, stating that they do not reflect the will of the Venezuelan people. Blinken has called for a detailed tabulation of votes by the electoral authorities.
Despite the opposition&#8217;s allegations of electoral malpractice, the CNE has reported a 59% voter turnout. The opposition, which has been calling for change after 25 years of socialist rule, has urged the military to respect the election results.
Tesla Inc. CEO Elon Musk made a series of comments on Venezuela&#8217;s election developments. In one of his posts on X, he quoted a news piece representing Javier Milei, President of Argentina, stating, &#8220;Dictator Maduro, get the hell out!" Musk also captioned his post in similar lines, stating, &#8220;Shame on Dictator Maduro.&#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">Shame on Dictator Maduro <a href="https://t.co/yad3Itps5N">https://t.co/yad3Itps5N</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1817776665906254018?ref_src=twsrc%5Etfw">July 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cuban President Miguel Díaz-Canel warmly congratulated his &#8220;brother&#8221; Maduro on his victory in a post on X, reaffirming Cuba&#8217;s ongoing commitment to supporting the Bolivarian and Chavista Revolution.
<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">Hoy triunfó la dignidad y el valor del pueblo venezolano sobre presiones y manipulaciones. Transmito al hermano presidente <a href="https://twitter.com/NicolasMaduro?ref_src=twsrc%5Etfw">@NicolasMaduro</a> nuestras afectuosas felicitaciones por esta victoria histórica y el compromiso de <a href="https://twitter.com/hashtag/Cuba?src=hash&amp;ref_src=twsrc%5Etfw">#Cuba</a> de estar junto a la Revolución Bolivariana y Chavista.
&mdash; Miguel Díaz-Canel Bermúdez (@DiazCanelB) <a href="https://twitter.com/DiazCanelB/status/1817777032413004064?ref_src=twsrc%5Etfw">July 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In another post, Musk highlighted a post from End Wokeness, a popular page on X, which pointed out a significant difference between exit polls and the actual election outcome. Exit polls indicated Maduro&#8217;s lead of only 31% over the opposition, but the actual result was 51.2%, highlighting a fabrication in the election results. Musk quoted it, saying, &#8220;What a travesty.&#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">What a travesty <a href="https://t.co/OOfhyXs4Y3">https://t.co/OOfhyXs4Y3</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1817790567989829826?ref_src=twsrc%5Etfw">July 29, 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/news/24/07/39999519/trump-vs-harris-latest-survey-indicates-positive-signs-for-this-candidate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Latest Survey Indicates Positive Signs For This Candidate</a>
Why It Matters: The election in Venezuela has been closely watched by the international community. Just hours before the election, U.S. Vice President and presumptive Democratic nominee for the 2024 Presidential Elections, Kamala Harris, <a href="https://www.benzinga.com/news/24/07/40002632/kamala-harris-the-will-of-the-venezuelan-people-must-be-respected-as-socialist-nicol-s-maduro-faces">stressed the importance of respecting the will of the Venezuelan people</a>. Her comments came amid concerns about potential electoral fraud.
Maduro&#8217;s victory, despite the opposition&#8217;s allegations, is likely to further strain the already tense relations between Venezuela and the United States.
Read Next: <a href="https://www.benzinga.com/news/24/07/39999465/trump-raises-eyebrows-with-controversial-remark-at-florida-event-in-four-years-you-dont-have-to-vote?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Raises Eyebrows With Controversial Remark At Florida Event: &#8216;In Four Years, You Don&#8217;t Have To Vote Again&#8217;</a>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Elon Musk Calls Venezuela Elections A 'Travesty' As Nicolas Maduro Wins Third Term Amid Fraud Allegations — Blinken Expresses 'Serious Concerns'

SVMH

Reported Friday, SRIVARU Receives Nasdaq Delisting Notification, Plans To Appeal Decision

Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&nbsp;first iPhone 16 models <a href="https://www.benzinga.com/news/24/05/39060951/as-apples-iphone-16-launch-nears-report-says-more-than-half-of-worlds-smartphones-will-be-ai-capable">shipped&nbsp;to consumers</a> this year will&nbsp;possibly not include&nbsp;the new AI features and&nbsp;will&nbsp;require a software update weeks&nbsp;later.
What Happened: Apple plans to introduce&nbsp;Apple Intelligence to customers as&nbsp;part of software updates by October,&nbsp;a few <a href="https://www.benzinga.com/news/24/07/39768442/6-new-hidden-iphone-features-you-probably-havent-discovered-yet-on-ios-18">weeks after the initial</a> iOS 18 and iPadOS&nbsp;18 releases planned for September, <a href="https://www.bloomberg.com/news/articles/2024-07-28/apple-intelligence-to-miss-initial-release-of-upcoming-ios-18-ipados-overhauls?srnd=phx-technology">reported</a> Bloomberg, citing people with knowledge of the matter.
Apple intends&nbsp;to make Apple Intelligence available&nbsp;to software developers for early testing&nbsp;as soon as this week&nbsp;via iOS 18.1 and iPadOS&nbsp;18.1 betas. 
This approach is unusual for Apple, which typically does not&nbsp;release previews of follow-up updates&nbsp;until&nbsp;the initial version of the&nbsp;new software generation is publicly released.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39984404/apple-joins-meta-and-google-pledges-support-for-bidens-ai-regulations?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Joins Meta And Google, Pledges Support For Biden&#8217;s AI Regulations</a>
Apple&#8217;s decision to separate the AI&nbsp;features from the initial launch&nbsp;of&nbsp;iOS 18 and iPadOS 18&nbsp;was driven by concerns&nbsp;over the stability of Apple&nbsp;Intelligence features, the report noted.
The company requires&nbsp;support from developers to help&nbsp;resolve&nbsp;issues and test features on&nbsp;a larger scale. Even when Apple Intelligence launches&nbsp;with&nbsp;iOS 18.1 and iPadOS 18.1,&nbsp;it will be missing some&nbsp;features.
The company plans&nbsp;to roll out its full&nbsp;set of Apple Intelligence features&nbsp;via multiple updates to iOS&nbsp;18 across the end of&nbsp;2024 and through the first&nbsp;half of 2025, the report stated.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: <a href="https://www.benzinga.com/news/24/06/39256948/tim-cook-announces-apple-intelligence-for-iphones-calls-it-next-big-step-tremendously-excited">Apple Intelligence includes</a> a&nbsp;range of features, including prioritization&nbsp;of key notifications, web page, and voice note summaries, tools&nbsp;to improve writing, a revamp&nbsp;to Siri, and integration of&nbsp;OpenAI's ChatGPT.
Earlier this month,&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39669649/apples-path-to-4-trillion-iphone-16-ai-supercycle-sparks-analyst-optimism">analysts predicted</a>&nbsp;a potential &#8220;AI supercycle&#8221; for Apple, driven by the iPhone 16&#8217;s AI features. Reports last week revealed 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 market share in China</a>&nbsp;has been declining. 
The company&#8217;s latest ranking in the country has dropped from third to sixth place.
Meanwhile, previously it was also reported, that the Cupertino, California-based <a href="https://www.benzinga.com/news/24/07/39904665/apple-plans-a18-chip-integration-to-bring-ai-features-to-iphone-16-its-entry-level-variants-and-ipad">tech giant plans to integrate</a> its A18 chip into its upcoming entry-level iPhones and iPads to run Apple Intelligence.
Image Courtesy — Apple
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39926002/after-donald-trumps-recent-taiwan-statement-sent-shockwaves-japans-pm-kishida-reveals-new-bill-to-bo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">After Donald Trump&#8217;s Recent Taiwan Statement Sent Shockwaves, Japan&#8217;s PM Kishida Reveals New Bill To Boost AI And Chipmaking With Domestic Investment</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

AAPL

First iPhone 16 Models May Not Have Apple Intelligence Features As Cupertino Delays AI Integration For iOS 18 Overhaul: Report

LUXH

Reported Friday, LuxUrban Hotels Prices Its ~$1.74M Public Offering Of 11,573,333 Common Shares At $0.15/Share

Reported Sunday, Unitywater Taps Cognizant For ICT Support Managed Services For The Water Provider In Strategic Five-Year Deal

Dr Reddy's Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>) reported quarterly earnings of ₹83.46 per share which beat the analyst consensus estimate of $76.83 by 8.63 percent. This is a 0.9 percent decrease over earnings of ₹84.22 per share from the same period last year. The company reported quarterly sales of ₹76.727 billion which beat the analyst consensus estimate of ₹72.830 billion by 5.35 percent. This is a 13.87 percent increase over sales of ₹67.384 billion the same period last year.

Earnings Beats

Dr Reddy's Laboratories Q1 2025 GAAP EPS ₹83.46 Beats ₹76.83 Estimate, Sales ₹76.727B Beat ₹72.830B Estimate

Renowned economist Peter Schiff has taken a swipe at former President Donald Trump and MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder Michael Saylor&#8217;s &#8216;never sell your Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&#8217; stance, questioning the logic behind the strategy.
What Happened: On Sunday, in a post on X, Schiff expressed skepticism towards the idea of retaining Bitcoin. He questioned the point of owning Bitcoin if no one ever sells it, comparing it to living in poverty while dying and holding a large amount of the cryptocurrency.
<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">Both <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> and <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> say &quot;never sell your <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>.&quot; If that&#39;s true and no one who buys Bitcoin ever sells any, what&#39;s the point of owning it? What&#39;s the appeal of living in poverty, dying with a big stack of Bitcoin, with successive generations of heirs repeating the process?
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1817608449917694101?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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In another post, he pointed out what he perceives as flawed logic in the argument that Bitcoin&#8217;s value will skyrocket due to the U.S. inflating away its national debt. Schiff argued that the U.S. government could buy Bitcoin now and sell it in 20 years to repay the National Debt without creating inflation.
<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">Noticed the flawed logic. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> will go to millions per token because the U.S. will have to inflate away it&#39;s exploding <a href="https://twitter.com/hashtag/NationalDebt?src=hash&amp;ref_src=twsrc%5Etfw">#NationalDebt</a>. But the U.S. government will buy Bitcoin now, then sell it in 20 years to legitimately repay the National Debt, without creating <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a>.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1817684801522147583?ref_src=twsrc%5Etfw">July 28, 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/markets/cryptocurrency/24/07/39999062/benzinga-bulls-and-bears-tesla-amc-meta-and-crypto-analyst-predicts-dogecoin-will-follow-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">One Crypto Is Poised To Outperform Bitcoin, Says Crypto Expert</a>
Why It Matters: Schiff&#8217;s comments come in response to Trump&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">recent advocacy for a strategic national cryptocurrency stockpile.</a> During his keynote speech at the Bitcoin 2024 Conference, Trump assured that if he were to return to the presidency, the U.S. government would retain its Bitcoin holdings. 
The presidential nominee also stated that Bitcoin would <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi">skyrocket like &#8220;never before&#8221; if he came back to power</a> and promised to fire current SEC Chair&nbsp;Gary Gensler&nbsp;on Day 1 of his tenure.
Michael Saylor was also one of the speakers at the conference and he stunned the cryptocurrency community by forecasting that the King Crypto would hit a staggering $13 million by 2045 in a base case scenario, and nearly $49 million in a bull case.
Price Action: At the time of writing, Bitcoin was trading at $68,693.74, up 0.89% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Trump-themed Maga Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) was up 0.26%. Shares of MicroStrategy closed 9% higher at $1,752.71 during Friday's trading session.
Photo courtesy: Gage Skidmore on Flickr
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001633/scaramucci-i-agree-with-every-single-thing-trump-has-said-on-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Scaramucci: &#8216;I Agree With Every Single Thing&#8217; Trump Has Said On Bitcoin</a></li>
</ul>
Disclaimer:&nbsp;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.

$TRUMP

MSTR

Peter Schiff Confronts Donald Trump And Michael Saylor's 'Never Sell Your Bitcoin' Strategy: 'What's The Point Of Owning It?'

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ZAAG

Shares of several technology companies are trading higher amid market volatility. Strength potentially in anticipation of a reopening of the economy, as well as the current work-from-home environment, which has possibly been a positive catalyst.

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Shares of several technology companies are trading higher amid market strength on hopes of a US economic stimulus package agreement.

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ZA Gr

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Latest news for ZA Gr (OTC:ZAAG) Stock

Thursday, April 16, 2020

Tuesday, March 24, 2020