{"id":71005,"date":"2023-09-11T09:05:12","date_gmt":"2023-09-11T13:05:12","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71005"},"modified":"2023-09-11T09:05:12","modified_gmt":"2023-09-11T13:05:12","slug":"coffee-with-greta-tech-bounce-2","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/09\/11\/coffee-with-greta-tech-bounce-2\/","title":{"rendered":"Coffee With Greta: Tech Bounce"},"content":{"rendered":"

Register now<\/a> for Wednesday's free trading Q&A on LinkedIn with me and JR Romero!<\/strong><\/p>\n

DJIA Futures: <\/b>+71 (+0.2%)<\/span><\/p>\n

SPX Futures: <\/b>+23 (+0.5%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+126 (+0.8%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are rising as traders attempt to shake-off last week\u2019s loss.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Qualcomm Jumps On Apple Chip Deal<\/span><\/h2>\n

Qualcomm <\/b>(QCOM) shares are up 5.3% ahead of the open after announcing a new chip agreement with <\/span>Apple <\/b>(AAPL) this morning.\u00a0<\/span><\/p>\n

Qualcomm said today it will supply Apple with 5G modems for smartphones through 2026.\u00a0<\/span><\/p>\n

That\u2019s much longer than Qualcomm\u2019s previous expectation for Apple to switch to an internally developed 5G modem starting in 2024.<\/span><\/p>\n

The continued sales to Apple are expected to boost Qualcomm\u2019s handsets segment.\u00a0<\/span><\/p>\n

About 21% of the company\u2019s fiscal 2022 revenue came from Apple sales.\u00a0<\/span><\/p>\n

By 2026, Qualcomm only expects to supply 20% of the modems Apple needs.<\/span><\/p>\n

Hostess Soars On J.M. Smucker Takeover Announcement<\/span><\/h2>\n

Hostess Brands <\/b>(TWNK) shares are rallying 19.1% in premarket trade after <\/span>J.M. Smucker <\/b>(SJM) agreed to buy the company.\u00a0<\/span><\/p>\n

J.M. Smucker will acquire Hostess for $34.25 per share in a cash and stock transaction.\u00a0<\/span><\/p>\n

The deal values Hostess at $5.6 billion.\u00a0<\/span><\/p>\n

The transaction has already been unanimously approved by both company\u2019s boards and is expected to close in the third quarter of J.M. Smucker\u2019s current fiscal year, ending April 30, 2024.<\/span><\/p>\n

Tesla Jumps On Morgan Stanley Upgrade<\/span><\/h2>\n

Tesla <\/b>(TSLA) shares are up 6.6% ahead of the open after the stock was upgraded by Morgan Stanley analyst Adam Jonas on Sunday.<\/span><\/p>\n

Jonas upgraded the stock to Buy from Hold and raised his price target to $400 a share from $250 a share.\u00a0<\/span><\/p>\n

He called Tesla his top pick and cited autonomous driving as the reason.\u00a0<\/span><\/p>\n

Jonas wrote, \u201cThe autonomous car has been described as the mother of all AI projects. In its quest to solve for autonomy, Tesla has developed an advanced supercomputing architecture that pushes new boundaries in custom silicon and may put Tesla at an asymmetric advantage in a $10 trillion total addressable market.\u201d\u00a0<\/span><\/p>\n

Meta Is Developing AI System<\/span><\/h2>\n

Meta Platforms <\/b>(META) shares are resign 1.4% in premarket trade following a Wall Street Journal report the company is developing a new AI system.\u00a0<\/span><\/p>\n

The Journal reported Sunday that Meta is working on a system as capable as OpenAI\u2019s most advanced model.\u00a0<\/span><\/p>\n

It\u2019s also expected to be more powerful than the AI software it released with <\/span>Microsoft <\/b>(MSFT) two months ago, Llama 2.<\/span><\/p>\n

Meta is reportedly planning for the new AI model to be ready next year.<\/span><\/p>\n

The report said the company is currently building up data centers and acquiring more <\/span>Nvidia <\/b>(NVDA) H100 chips.\u00a0<\/span><\/p>\n

CEO Mark Zuckerberg is reportedly pushing for the model to be open-sourced, which differs from its main competitors in the AI space.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Register now for Wednesday’s free trading Q&A on LinkedIn with me and JR Romero! DJIA Futures: +71 (+0.2%) SPX Futures: +23 (+0.5%) NASDAQ Futures: +126 (+0.8%) Good morning friends! Futures are rising as traders attempt to shake-off last week\u2019s loss. Let\u2019s get right to it! Qualcomm Jumps On Apple Chip Deal Qualcomm (QCOM) shares are up 5.3% ahead of the open after announcing a new chip agreement with Apple (AAPL) this morning.\u00a0 Qualcomm said today it will supply Apple with 5G modems for smartphones through 2026.\u00a0 That\u2019s much longer than Qualcomm\u2019s previous expectation for Apple to switch to an internally developed 5G modem starting in 2024. The continued sales to Apple are expected to boost Qualcomm\u2019s handsets segment.\u00a0 About 21% of the company\u2019s fiscal 2022 revenue came from Apple sales.\u00a0 By 2026, Qualcomm only expects to supply 20% of the modems Apple needs. Hostess Soars On J.M. Smucker Takeover Announcement Hostess Brands (TWNK) shares are rallying 19.1% in premarket trade after J.M. Smucker (SJM) agreed to buy the company.\u00a0 J.M. Smucker will acquire Hostess for $34.25 per share in a cash and stock transaction.\u00a0 The deal values Hostess at $5.6 billion.\u00a0 The transaction has already been unanimously approved by both company\u2019s boards and is expected to close in the third quarter of J.M. Smucker\u2019s current fiscal year, ending April 30, 2024. Tesla Jumps On Morgan Stanley Upgrade Tesla (TSLA) shares are up 6.6% ahead of the open after the stock was upgraded by Morgan Stanley analyst Adam Jonas on Sunday. Jonas upgraded the stock to Buy from Hold and raised his price target to $400 a share from $250 a share.\u00a0 He called Tesla his top pick and cited autonomous driving as the reason.\u00a0 Jonas wrote, \u201cThe autonomous car has been described as the mother of all AI projects. In its quest to solve for autonomy, Tesla has developed an advanced supercomputing architecture that pushes new boundaries in custom silicon and may put Tesla at an asymmetric advantage in a $10 trillion total addressable market.\u201d\u00a0 Meta Is Developing AI System Meta Platforms (META) shares are resign 1.4% in premarket trade following a Wall Street Journal report the company is developing a new AI system.\u00a0 The Journal reported Sunday that Meta is working on a system as capable as OpenAI\u2019s most advanced model.\u00a0 It\u2019s also expected to be more powerful than the AI software it released with Microsoft (MSFT) two months ago, Llama 2. Meta is reportedly planning for the new AI model to be ready next year. The report said the company is currently building up data centers and acquiring more Nvidia (NVDA) H100 chips.\u00a0 CEO Mark Zuckerberg is reportedly pushing for the model to be open-sourced, which differs from its main competitors in the AI space.<\/p>\n","protected":false},"author":41,"featured_media":71008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=71005"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71005\/revisions"}],"predecessor-version":[{"id":71010,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71005\/revisions\/71010"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/71008"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}