Microsoft (MSFT) announced on Wednesday that it is cutting 10,000 jobs as the tech giant contends with slowing PC and cloud sales. But according to at least one analyst, the layoffs are a proactive move as Microsoft and its Big Tech counterparts are forced to reckon with the unsustainable growth they saw during the pandemic. “It was a rip-the-Band-Aid-off moment from Nadella and Microsoft, and we’re seeing it across tech,” Wedbush analyst Dan Ives told Yahoo Finance Live. “These… Source link
Read More »Microsoft layoffs a ‘rip the band-aid off’ moment: Analyst Dan Ives
Microsoft (MSFT) announced on Wednesday that it is cutting 10,000 jobs as the tech giant contends with slowing PC and cloud sales. But according to at least one analyst, the layoffs are a proactive move as Microsoft and its Big Tech counterparts are forced to reckon with the unsustainable growth they saw during the pandemic. “It was a rip-the-Band-Aid-off moment from Nadella and Microsoft, and we’re seeing it across tech,” Wedbush analyst Dan Ives told Yahoo Finance Live. “These… Source link
Read More »Tesla stock is trading at its ‘cheapest valuation’ in years, Wedbush’s Dan Ives says
The steep slide in Tesla’s (TSLA) stock price this year is starting to catch the eye of valuation watchers. “Not since 2018 has Tesla traded at these levels,” Wedbush analyst Dan Ives wrote in an email to Yahoo Finance. “On an EV/EBITDA [earnings before interest, taxes, depreciation, and amortization] basis it’s the cheapest valuation to date.” Ives — a former Tesla bull who made headlines in mid-November for removing the EV maker’s stock from Wedbush’s best ideas list — isn’t too far… Source link
Read More »FTX collapse is ‘a black swan event’: Wedbush’s Dan Ives
The crypto market is experiencing a stunning downfall following the collapse of the exchange FTX (FTT-USD). FTX filed for Chapter 11 bankruptcy protection followed a failed takeover by rival Binance (BNB-USD) earlier in the week, with Sam Bankman-Fried resigning as CEO after engineering a liquidity hole of billions. “It’s a black swan event,” Wedbush tech analyst Dan Ives said on Yahoo Finance Live (video above). “It’s a cautionary tale for what you see in sectors and unfortunately, many will… Source link
Read More »Musk’s Twitter deal has a 5% chance of going through: Ives
The ongoing saga between Elon Musk and Twitter (TWTR) is getting even more complicated as both sides appear to be digging in for a fight over whether the Tesla (TSLA) CEO goes through with the purchase. On Thursday, Twitter defended its accounting of spam and bot accounts on the platform, which the company says make up less than 5% of daily monetizable active users. That same day, The Washington Post reported that Musk’s team has pulled back on talks regarding funding for the $44 billion… Source link
Read More »‘The elephant in the room for Tesla,’ according to WedBush’s Dan Ives
Some storm clouds are appearing on the horizon for Tesla bulls after a respectable second quarter. “The elephant in the room for Tesla (and the broader market) is with dark economic storm clouds on the horizon and Musk himself thinking recession risk is imminent, what does this mean for Tesla’s demand story going forward?” Wedbush Wedbush Senior Equity Research Analyst Dan Ives stated in a new note to clients. “In a nutshell, while June delivery numbers were ugly and nothing to write home… Source link
Read More »Meta could be ‘bracing for a tornado-like quarter’: Wedbush’s Dan Ives
Meta (META) could be bracing for a “tornado-like quarter,” says Wedbush Managing Director Dan Ives. The social media giant, like other tech companies, is scaling back hiring plans as it braces for an economic downturn. This week Meta’s founder and CEO Mark Zuckerberg said the company would cut back its hiring target for this year by at least 30%. “If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent history,” Zuckerberg told employees during a weekly… Source link
Read More »Elon Musk stake in Twitter ‘just the appetizer,’ Wedbush’s Dan Ives says
Tesla CEO Elon Musk may be just getting started when it comes to trying to shake up Twitter. It was disclosed on Monday that the somewhat unpredictable Musk took a 9.2% stake in Twitter. The stake — valued at close to $3 billion as of Twitter’s closing price on Friday — is defined as a passive one. Shares of Twitter surged 20% in the session. “This is just the appetizer. Ultimately, we believe he will have an active stake over the coming weeks or month. This is just a start. I think he will… Source link
Read More »Tesla leading auto world’s ‘biggest transformation since the 1950s’: Wedbush’s Ives
Tesla (TSLA) strong rally this week points to more gains ahead, according to Wedbush, with the U.S. electric vehicle maker primed to transform the auto industry after ending 2021 on a strong note. Better-than expected fourth quarter delivery figures spurred investors to remain bullish on Tesla’s stock, while the electric vehicle (EV) maker’s new Gigafactory in Austin, Texas preps for production this month. “We’re seeing, it’s a $5 trillion market opportunity in terms of EV and it’s the… Source link
Read More »Apple building a car ‘is a matter of when, not if’: Wedbush’s Dan Ives
Apple’s (AAPL) project to build an electric car with full autonomous capabilities has a “75%, 80% plus chance” of becoming a reality, Wedbush Securities managing director and senior equity analyst Dan Ives told Yahoo Finance Live in an interview Friday. Apple has reportedly long been working on building an electric car model, but has yet to release any public information on the project. Apple’s EV project first came to public light in early 2015 when it became known that Apple was… Source link
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