Already a subscriber?Federal Reserve chairman Jerome Powell did a lot to help the S&P 500 hit its 16th record for the year when he told a Senate committee that the US central bank was “not far” from being able to cut interest rates.
Nvidia’s share price jumped 4 per cent on Thursday, which pushed its market capitalisation to $US2.2 trillion .. Investors were rattled after a report from Counterpoint Research estimated that the company sold 24 per cent fewer iPhones in China in the first six weeks of the year compared with the same period a year earlier.
The EU said it found Apple abused its App Store dominance to restrict developers from telling users about alternative ways to subscribe to music-streaming services. Apple plans to appeal.Speculation that Warren Buffett’s Berkshire Hathaway could be trimming its stake in Apple is also putting pressure on the share price. Last month, Apple abandoned a decade-long project to make an electric car to rival Tesla.
Meanwhile, Nvidia continues to ride the tide of AI enthusiasm, which has caused its share price to rise more than sevenfold since October 2022.
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