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Heating Up

Posted November 06, 2023

Ray Blanco

By Ray Blanco

Heating Up

Now this is what I like to see…

chart

That’s a snapshot of tech over the last five days.

After going cold for a few months, some of the biggest tech companies have started heating up in November.

Whether it’s the Fed pausing their rate hikes, or good earnings numbers, we’re certainly happy to see the ice start to thaw on the tech market.

Speaking of earnings, last week was a significant one if only for the fact that Apple reported on their quarter 4 numbers on Thursday.

Often serving as the best indicator for the overall health of tech, the world’s biggest company always gets a lot of industry attention when it comes to reporting on their financials.

Overall, things looked pretty good. Apple narrowly beat their projected revenue and reported earnings per share of $1.46, compared to $1.39 expected.

Demand for Macs remains low, as they came up short of those specific revenue expectations by over $1 billion.

But where sales in larger personal devices such as Macs and iPads are still cold, iPhones and Apple Services were hot.

Apple’s flagship product, the iPhone, was their only hardware line to show quarter-over-quarter growth. And their Services division, which includes their cloud services and Apple music, was reported at 16% year-over-year growth.

According to CEO Tim Cook, every major service hit an internal record.

Most of the marquee names in tech have already reported on their earnings for the quarter, but with a few significant names still to come - and some red hot tech trends like AI and the re-emergence of Bitcoin - we’re hoping that the rally can continue for a while longer.

Now here are the stories I’m looking at this week…

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Elon Musk Tells Rishi Sunak AI Will Put An End To Work

Musk has predicted that artificial intelligence will eventually mean that no one will have to work. Read more…

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Groundbreaking Study Reverses Aging In Rats

Study achieved a 50% reversal of rat aging through young porcine plasma nanoparticles, offering hope for human age reversal and broader applications. Read more…

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OpenAi Unveils Latest AI Model, Customizable GPTs And Digital Store

OpenAI unveiled a series of artificial intelligence tool updates, including the ability for developers to create custom versions of ChatGPT. Read more…

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FTX Founder Sam Bankman-Fried Found Guilty of Fraud

Sam Bankman-Fried, the founder of FTX, was convicted Thursday in a New York federal court of stealing billions of dollars from customers. Read more…

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Artemis 2 Moon Astronaut Says Crew Is Ready For Ambitious 2024 Mission

Seven months of moon mission training is bringing spaceflight "much closer than it's ever felt before". Read more…

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