Last week, the news for the companies in the WLT index remained on a positive trajectory as stocks continued to recover following something of a lull in the market. Now the improving tech market means that the focus has shifted back to individual company performance, rather than the previously flagging sector.
On Friday, tech stocks gained a boost after Taiwan Semiconductor Manufacturing reported an increase in sales. This led to a boost in chip stocks.
The positivity continued on Tuesday as consumer inflation was reported at lower than expected and hinted that the US Federal Reserve is done hiking interest rates.
The tech-heavy Nasdaq Composite has increased 3.0 per cent in the last five days.
Alas, it was not good news for everyone: Xero saw its stock plummet as profits came in lower than expected as investors considered the company’s transformation to be slower than they expected and the company wanted.
It is a good day for those of us frequently disappointed by the accuracy of our weather forecasts with the news that AI has, for the first time, outperformed conventional weather forecasting methods.
GoogleDeepMind’s model beat the world’s leading systems in 90 per cent of metrics used and it was faster when doing so! It seems the practice of meteorology might soon be resigned to the history books.
Meanwhile, Meta has become the first of the tech giants to challenge the EU’s new digital rules. It is arguing that its marketplace and messenger functions are not core services, meaning they are viewed differently under the EU’s new rules.
Swedish start-up Imagi is making a push to get more young girls into coding so that they may consider a career in a technical field. Research shows that despite girls doing better in technical subjects at school, fewer go into these fields as adults.
The long-standing rumours are true: Microsoft is making its first foray into AI chips as it seeks to limit its reliance on Nvidia. The tech giant has announced it is making a custom silicon chip to help power its AI-enabled software and services.
Microsoft chairman and CEO Satya Nadella said it would start using the Azure Maia AI chip in its Azure data centres from next year.
Meanwhile, Sundar Pichai, CEO of Google parent Alphabet, testified in a court case to determine whether Google is using the Play Store to stifle competition and extract excessive fees from the companies that list its apps on the storefront.
Epic Games, the company behind the popular game Fortnite and the near-ubiquitous Unreal Engine, has filed a lawsuit alleging that Google had set up technical and contractual systems that make it hard for Android users to get apps anywhere other than Google’s Play Store.
During the trial, Pichai confirmed that the company shares 36 per cent of the revenue it earns through Google searches on Apple’s Safari browser. Pichai admitted the figure after an expert witness accidentally disclosed it.
The comparison with Samsung’s deal was discussed, with Pichai noting differences. Google’s Traffic Acquisition Costs in 2022 were nearly US$49 billion (AU$75.73 billion), with significant payments to Apple. The disclosure of exact payment amounts is contentious, with the court emphasising transparency over the companies’ preference for confidentiality.
|Macquarie Telecom Limited (ASX: MAQ)||$64.17||$63.53||-1.00%|
|REA Group (ASX: REA)||$156.78||$157.45||0.43%|
|Atlassian (NAS: TEAM) (USD)||$174.48||$187.32||7.36%|
|Xero (ASX: XRO)||$114.72||$101.95||-11.13%|
|Carsales.com (ASX: CAR)||$28.84||$29.33||1.70%|
|NEXTDC (ASX: NXT)||$12.53||$13.11||4.63%|
|WiseTech Global (ASX: WTC)||$63.64||$66.83||5.01%|
|Appen (ASX: APX)||$1.02||$1.02||0.00%|
|Airtasker (ASX: ART)||$0.18||$0.18||0.00%|
|Telstra (ASX: TLS)||$3.92||$3.83||-2.30%|
|Adobe (NAS: ADBE) (USD)||$585.31||$595.31||1.71%|
|Salesforce (NYSE: CRM) (USD)||$211.47||$219.42||3.76%|
|Apple (NAS: AAPL) (USD)||$182.89||$188.01||2.80%|
|Alphabet (NAS: GOOGL) (USD)||$131.84||$134.62||2.11%|
|Meta (NAS: META) (USD)||$318.82||$336.31||5.49%|
|Microsoft (NAS: MSFT) (USD)||$363.20||$369.67||1.78%|
|Amazon (NAS: AMZN) (USD)||$142.08||$143.20||0.79%|
|Nvidia (NAS: NVDA) (USD)||$465.74||$488.88||4.97%|
|Netflix (NAS: NFLX) (USD)||$436.65||$461.94||5.79%|
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