Cryptocurrencies will experience a “heavy correction” of 90 percent leading to a “mass market wipe out,” a technology investment bank predicted in a report seen by CNBC on Wednesday. GP Bullhound’s “Token Frenzy: The Fuel of the Blockchain” report laid out the current state of cryptocurrencies, blockchain technology, initial coin offerings (ICO) and what they […]
Read moreAmazon has made a formal offer to buy a majority stake in Indian e-commerce firm Flipkart, CNBC affiliate CNBC TV-18 reported Wednesday, citing sources. The U.S. e-commerce giant has offered to purchase a 60 percent stake in Flipkart. As part of the proposal, Amazon is seeking a non-compete agreement from Flipkart’s founders, TV-18 said. Amazon’s […]
Read moreXerox said its CEO and most of its board will step down to settle a suit by activist shareholders Carl Icahn and Darwin Deason, handing over to new management which will reconsider a contentious deal with Fujifilm. The move is a triumph for Icahn and Deason, who together hold 15 percent of Xerox. They had […]
Read moreIf Apple puts its massive cash holdings to work, the company could end up giving back $60 billion per year to investors, said Gene Munster, founder and managing partner at Loup Ventures, a venture capital firm. “That alone will move the stock 7 percent higher in the next year,” Munster told CNBC on “Fast Money” […]
Read moreApple’s second-quarter earnings beat on Tuesday illustrated just how differently this company’s stock behaves compared with the rest of the market, CNBC’s Jim Cramer said. “The bane of this market is not tariffs or interest rates or inflation; no, the real killer is great expectations,” the “Mad Money” host said on Tuesday. “Apple is truly […]
Read moreCNBC’s Josh Lipton and Jim Cramer spoke to Apple CEO Tim Cook about March quarter earnings, where Cook tried to dispel negative sentiment about iPhone sales. In particular, he dismissed the idea that a longer upgrade cycle would hurt Apple: “The important thing from my point of view is the iPhone active install base has […]
Read moreGone are the days of triple play’s phone, internet and TV packages. Today, it’s all about quadruple play, and T-Mobile COO Mike Sievert said the proposed merger with Sprint will help the combined company get there. “So T-Mobile is in the position as a new T-Mobile to be able to offer a quad play, if […]
Read moreApple’s second-quarter earnings beat on Tuesday illustrated just how differently this company’s stock behaves compared with the rest of the market, CNBC’s Jim Cramer said. “The bane of this market is not tariffs or interest rates or inflation; no, the real killer is great expectations,” the “Mad Money” host said on Tuesday. “Apple is truly […]
Read moreApple posted some of its strongest growth during the March quarter in one of its toughest geographic regions. The iPhone maker reported $13 billion in revenue from Greater China during its second fiscal quarter — a 21 percent year-over-year spike. That puts the company’s China revenue on par with its European revenue. On the company’s […]
Read moreFacebook co-founder Chris Hughes told CNBC on Tuesday he doesn’t think the social media giant has done enough to protect its users’ personal data. The issue over privacy came to the forefront after the research firm Cambridge Analytica was recently accused of improperly accessing the personal user data of as many as 87 million Facebook […]
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