MARKET RECAP → Stocks inched higher again on Wednesday, with the S&P 500 just 15 points away from its all-time-high (“ATH”) of 4,797 … ? … Crypto remains the cool kid on the block, with Bitcoin (BTC) closing nearly 3% higher ahead of the highly anticipated BTC ETF, expected as early as January 2024.
BAN BITES APPLE → ? A U.S. ban on select Apple (AAPL) watches over patent disputes with Masimo puts the tech giant’s legal agility and market strategy under the spotlight, as it maneuvers through a high-stakes patent labyrinth. SOFTBANK’S T-MOBILE BOOST → ? SoftBank’s savvy scores a $7.6B T-Mobile (TMUS) stake, doubling its share game; a strategic leap amidst market mazes, turning tech tides with a 25.5% internal rate of return wink. |
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| Sean Horgan Head of Investor Relations @ MoneyLion
$shorgan |
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? Import Halt Hits: Apple (AAPL) faced a significant setback as the Biden administration let a U.S. International Trade Commission (ITC) ban on Apple Watch imports take effect, targeting models with blood-oxygen reading technology. The tech giant, disagreeing with the decision, has appealed and requested an emergency halt, highlighting the high stakes in its fight to keep its popular wearable on U.S. wrists.
?⚖️ Legal Labyrinth: The ban, a result of Masimo’s accusations of Apple’s tech theft, underscores the intricate dance of patent disputes and market dominance. Apple’s refusal to settle, opting instead to challenge the ITC’s ruling, reflects its confidence in navigating the legal maze, possibly by designing around the patents or modifying features. ? Market Maneuvers: While Apple’s Series 9 and Ultra 2 watches have paused sales in the U.S., the ban doesn’t touch the Apple Watch SE, showing a selective strike in the smartwatch skirmish. This move, coupled with ongoing legal battles, illustrates the complex interplay of innovation, intellectual property, and international trade shaping the tech titan’s trajectory. |
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SOFTBANK’S T-MOBILE BOOST |
? Shares Jumped 5%: SoftBank Group’s shares leaped by 5% as it announced receiving T-Mobile (TMUS) U.S. shares worth $7.59 billion, doubling its stake to 7.64%. This move not only enhances SoftBank’s portfolio but also marks a significant increase in its marginable equity, making it a clever maneuver in the tech conglomerate’s chess game of investments. ? Boost in Listed Assets: The transaction is a strategic boost to SoftBank’s listed assets, particularly following the successful listing of Arm. Analysts note this increases the proportion of tangible, listed equity, offering a witty nod to SoftBank’s savvy in increasing its asset value amidst a year of moderate overall growth.
? Internal Rate of Return Soars: With the T-Mobile U.S. deal, SoftBank’s internal rate of return on its Sprint investment jumps to 25.5%, showcasing a clever comeback. Despite past setbacks like the WeWork debacle, SoftBank’s recent moves paint a picture of a resilient giant, strategically navigating the tech world with unwavering ambition.
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New York Times sues Microsoft, ChatGPT maker OpenAI over copyright infringement (CNBC)
Generative AI’s breakout year produced hefty profits for Nvidia and lofty experiments for others (CNBC)
Michigan court rejects appeal to disqualify Trump from 2024 ballot (CNBC) Houthi attacks and U.S. strikes add to concerns of broader conflict in the Middle East (CNBC) Toyota-owned automaker halts Japan production after admitting it tampered with safety tests for 30 years (CNN)
Manchester United sells 25% ownership to Jim Ratcliffe (CNN)
Elon Musk’s X, accused of withholding bonuses promised to staff, will have to face a court battle (CNN)
OpenAI calls in Apple’s iPhone design boss as CEO Sam Altman eyes launch of AI devices (Fortune)
Shoppers came out in force for the holidays, the only problem is analysts worry it was a ‘last hurrah’ ahead of a gloomy January (Fortune) |
And if you want more, be sure to check out the MoneyLion blog for tips, hacks and all things money. (MoneyLife) |
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