Technology news

Equity research firm Raymond James joined a host of other analysts with a buy rating on Nvidia Corp (Nvidia) shares. The company upgraded NVDA stock from an equal weight rating to overweight citing “hyperscale digestion, a resumption of enterprise activity, and rising virtualisation,” as the reason…

Intel Corp (NASDAQ: INTC) announced on Wednesday organizational changes with appointments into major leadership roles as the company seeks to enhance innovation and execution in critical areas of operation.  The company’s CEO, Pat Gelsinger, announced the appointment of two new technical leaders into the executive team and various…

The Carvana (NYSE: CVNA) stock price retreated in premarket trading after analysts at JP Morgan downgraded the company. The stock fell to $308 from the Tuesday’s close of $313, bringing its total market capitalisation to more than £37 billion ($53 billion). CVNA chart JP Morgan downgrades Carvana Carvana has…

MicroVision Inc (NASDAQ: MVIS) was down more than 10% in the stock market on Tuesday morning after the company announced an at-the-market equity offering agreement worth $140 million (£100.36 million) with Craig-Hallum Capital Group. The stock printed an intraday low of $16.70 per share on Tuesday. “MicroVision may,…

The market research company, Numerator said on Tuesday that Amazon Prime Day 2021 has so far seen Amazon-branded products generating the most sales. These included Amazon Gift Card Reloaded, Amazon Photos Project, Echo Dot 4th Generation, Amazon Fire TV Stick, and Amazon Fire Tablet. The per-order average declined from last…

Amazon.com Inc (NASDAQ: AMZN) stock is trading sideways since September 2020 between a per-share price of $2,900 and $,3500 (£2,087 and £2,519). The online retail giant’s Prime Day started on Monday morning, leaving investors questioning if the annual high-sales-volume event could help the stock finally break out of the…

Morgan Stanley analysts reiterated Facebook Inc (NASDAQ: FB) as their favourite in the league of large-cap social media stocks. In a Friday note, they said the Menlo Park-based company’s focus on investments and monetisation will help sustain strength in the post-pandemic world. Morgan Stanley said: “We remain most…

This year’s Prime Day comes much earlier after Amazon.com, Inc. (NASDAQ: AMZN) moved it from the third quarter to the second quarter. The event will kick off on Monday, June 21, making it the earliest since the launch of the shopping extravaganza. It is Amazon’s 7th…

Adobe Inc (NASDAQ: ADBE) reported its financial results for the fiscal second quarter on Thursday that topped Wall Street estimates. The company attributed its hawkish performance to the COVID-19 driven digital acceleration. 1. Financial performance Adobe said that its net income in the second quarter printed at $1.12 billion…

Roblox Corp (NYSE:RBLX) shares jumped 2.16% Thursday morning after Cathy Wood revealed she added to her stake in the company. The video game developer said on Tuesday after markets, bookings for May declined on a sequential basis. The news sparked an 8%…

ByteDance disclosed its full-year financial results in a company-wide meeting on Thursday. According to a staff member who attended the meeting, the parent company of TikTok reported $34.3 billion of revenue in 2020 that represents a 111% annualised growth. At $19 billion, its gross profit surged 93%. ByteDance said that…

Jefferies made the bold call of replacing Google parent company Alphabet Inc (NASDAQ: GOOGL) with Amazon.com Inc (NASDAQ: AMZN) in its Franchise Picks list on Wednesday. According to Jefferies, Amazon’s valuation currently stands at a 10% discount compared to its historical average versus Alphabet that is now at…

Oracle Corporation (NYSE:ORCL) shares plunged on Wednesday morning after announcing its fiscal fourth-quarter results on Tuesday evening. The stock created a downward price gap to trade at $75.96 per share, down from Tuesday’s highs of about $82.70.  Oracle outperformed analyst expectations on…

Despite a recent slump in Tesla, Inc. (NASDAQ: TSLA) stock price, the electric automaker still has plenty of support from Wall Street. Most recently, analysts from Mizuho Bank have maintained their Buy rating on Tesla despite the company’s stock dropping. The rating is based on the company’s strong position…

The Roku (NASDAQ: ROKU) stock price nosedived by more than 6% on Wednesday as competition in television industry tightened. The shares ended the day at $340, which was 7.5% below the highest level this week. The firm has a market capitalisation of more than $45 billion. Roku stock chart…

Oracle Corp. (NYSE: ORCL) reported its financial results for the fiscal fourth quarter on Tuesday that beat Wall Street estimates. The stock was down about 4% in after-hours trading on Tuesday. Q4 financial performance Oracle said it earned $4.03 billion (£2.86 billion) in the fourth quarter or $1.37 per…

The Xbox unit generated $3.6 billion (£2.55 billion) in revenue for Microsoft Corp (NASDAQ: MSFT) in its recent financial quarter. In the future, however, the tech giant intends to take some, or even all of the console users to the cloud. Phil Spencer’s comments on CNBC’s “TechCheck” Commenting…

Toni Sacconaghi, senior research analyst at Bernstein, was on CNBC  to discuss his concerns on the valuation of Tesla Inc. (NASDAQ: TSLA). Shares of Tesla are down 0.9% in the morning trading today. The stock is down 17% year-to-date but still up by more than 200% for the…

David Bahnsen, chief investment officer at The Bahnsen Group, was on CNBC to talk about whether the FAANG trade is dead and whether dividend growers offer a good hedge against inflation. The moniker FAANG has been used to describe the big tech companies including Facebook Inc. (NASDAQ: FB),…

U.S. President Joe Biden signed an executive order on Wednesday revoking the former President Donald Trump’s order that sought to block the Chinese-owned apps like TikTok and WeChat from the U.S. app stores, according to The Wall Street Journal. The apps and their owners are still not out of…

Evercore ISI’s first-ever tech, media, and telecom conference on Wednesday saw participation from notable names like Expedia, Roku, Grab, Next Door, and Uber Technologies Inc (NYSE: UBER). Mark Mahaney’s comments on CNBC’s “Squawk Box” Senior managing director Mark Mahaney of the investment banking company summarised Uber’s comments in the…

Fastly Inc.’s (NYSE: FSLY) Senior Vice President Nick Rockwell shared a blog post on the company’s website to discuss the major global internet outage that affected many websites on Tuesday. Some of the major high traffic websites including The Guardian, The Financial Times, The New York Times, Britain’s…