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Apple will get an analyst downgrade after the discharge of its dear headset and TSMC warns of slowing capital expenditures. Right here’s what traders must know in the present day.
1. Apple Will get Analyst Downgrade After Headset Launch
A minimum of one analyst lowered Apple’s (AAPL) score after the discharge of its Imaginative and prescient Professional VR headset, with D.A. Davidson dropping Apple to “impartial” from “purchase” after it was revealed that the product would price $3,500, far above the $500 headset that Meta Platforms (META) unveiled final week. Shares of Apple have been buying and selling decrease by nearly 3% within the pre-market after reaching an intraday all-time-high on Monday earlier than closing down 0.8%. Shares of Meta have been flat within the pre-market.
2. TSMC Warns of Slower Capital Expenditures
TSMC (TSM) warned traders that its 2023 capital spending will seemingly are available in near the underside of its $32 billion to $36 billion projection, as the first chipmaker to Apple offers with weaker demand for smartphone and PC chips. At its annual shareholder assembly, the corporate additionally restated its projections for a income decline of 10% within the first half of 2023. Shares of TSMC have been flat in pre-market buying and selling.
3. Microsoft to Pay $20 Million Over Knowledge Assortment Costs
Microsoft (MSFT) can pay $20 million to settle Federal Commerce Fee expenses that it collected private info from kids with out parental consent. The FTC mentioned that Microsoft violated the U.S. Youngsters’s On-line Privateness Safety Act (COPPA) in accumulating the knowledge via its Xbox gaming system and would require the software program big to enhance privateness safety for its companies and people from third-party software program suppliers.
4. Australia Unexpectedly Raises Curiosity Charges Once more as Inflation Persists
After inflation got here in at 6.8% in April, the Reserve Financial institution of Australia raised its benchmark fee by 25 foundation factors to 4.1% after economists anticipated the central financial institution to carry charges regular. The transfer pushed the Australian greenback up about 0.75% towards the U.S. greenback.
5. Spotify Declares Layoffs of two% of Workforce
Spotify (SPOT) mentioned it might lay off about 200 staff as a part of an effort to trim its growth into podcasting after spending closely to amass different podcast publishers, together with the rights to the Joe Rogan Expertise. The layoffs signify 2% of the content material streamers’ workforce. Shares of Spotify have been flat in pre-market buying and selling.
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