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Editor’s Pick:
Tesla Shows Off Optimus Gen 2 Robot With Improved Hands, Slimmer Figure
Dubbed the Optimus bot, the human-mimicking machine is part of Tesla’s venture into developing artificial intelligence and utilizes a trained neural network to perform basic tasks.
In the latest demonstration, Tesla says it’s reduced the weight of Optimus by 10kg (22lb) and shows the bot delicately picking up and handling an egg, with what it describes as “tactile sensing on all fingers.”
In September, Optimus was shown in a separate video sorting building blocks by color.
The latest video also shows the bot walking through a Tesla facility, with Cybertrucks parked nearby, and performing squats in a gym.
The goal for the bipedal autonomous humanoid is to replace humans in the performance of unsafe or boring tasks, Tesla says on its website.
Link to Bloomberg News Article - Dec 13th, 2023
Link to YouTube Video
Apple said to ramp up Visio Pro production, launch headset by February
Units set to be bought by customers are slated to be finished by January, Bloomberg reported, citing people with knowledge of the matter. The company also emailed developers on Wednesday to have them "get ready" for the Vision Pro and keep testing their apps, the news outlet added.
Link to Seeking Alpha News Article - Dec. 20, 2023
Rocket Lab wins $515M contract with U.S. Govt customer to manufacture 18 space vehicles
Rocket Lab (NASDAQ:RKLB) Thursday said that the company, via its unit, entered into a deal with a U.S. government customer to design, manufacture, deliver, and operate 18 space vehicles.
The contract has a total value of $515M, which includes a base amount of $489M and incentives and options totaling $26M.
Work under the agreement will begin immediately with the delivery of the space vehicles to the Customer for launch slated for 2027, operation of the satellites through 2030, and an option to operate the satellites through 2033.
Link to Seeking Alpha News Article - Dec. 21, 2023
Enphase: Emerging From The Ashes Of Its Steep Decline (Rating Upgrade)
Moreover, with the Fed's rate hikes out of the way, I'm confident it should help provide more clarity to Enphase and the solar supply chain. Therefore, I expect the company to assure investors with a more confident outlook at its Q4 earnings call. With ENPH still priced at a premium (forward EBITDA multiple of 29x), I believe the market isn't expecting anything less than an improved recovery cadence.
Link to Seeking Alpha Opinion Piece - Dec. 20, 2023
News, Facts, Analyst & Market Commentary - Short Reads
Tesla faces tricky road in Scandinavia as institutional investors join labor fight
The original standoff with a small number of repair shops in Sweden has now escalated to the point that well-known investors are taking notice.
The group of large Nordic institutional investors has reminded the electric vehicle maker in clear terms that the Swedish labor market model has enabled the Nordic region to thrive.
"We as Nordic investors acknowledge the decade old tradition of collective bargaining, and therefore urge Tesla to reconsider your current approach to unions," stated one of the investor groups.
In Sweden, 15 unions have joined the strike at the request of the IF Metall union and transporters are refusing to deliver vehicles. Over the last week, more unions in other parts of Scandinavia are pledging not to unload or transport Tesla vehicles bound for customers in the Swedish market.
"If Tesla gives into the unions around this ongoing dispute it could create a growing brush fire that eventually gets to the UAW and U.S. into 2024," Wedbush Securities analyst Dan Ives noted.
Link to Seeking Alpha News Article - Dec. 16, 2023
TSLA 0.00%↑ $BYDDF
Elon Musk says fossil fuels shouldn’t be shunned amid green transition
Elon Musk, chief executive of electric-car pioneer Tesla (NASDAQ:TSLA), on Saturday said oil and gas shouldn’t be shunned in the medium term but it is important to cut carbon emissions to address climate change.
“I don’t think we should demonize oil and gas,” he said. “It will take several decades to become sustainable. I think if we, without getting too worried about it, seek to have a sustainable energy future gradually, then that’s what will happen."
He spoke in Rome at a gathering of conservatives organized by Italian Prime Minister Giorgia Meloni's Brothers of Italy party.
"Climate change alarm is somewhat overblown in the short term – it’s still a concern in the long term," he said. “What really matters is over the course of the next several decades that we gradually reduce how many millions or billions of tons of carbon that we move from underground to the atmosphere.”
Link to Seeking Alpha News Article - Dec. 17, 2023
Apple halting Watch sales in compliance with ITC ruling; Biden may still veto
The Apple Watch Series 9 and Apple Watch Ultra 2 will no longer be available to purchase from Apple as of Dec. 21 in compliance with an International Trade Commission ruling from October on an intellectual property dispute pertaining to watches that contain a blood oxygen feature, 9to5Mac reported.
"Apple strongly disagrees with the order and is pursuing a range of legal and technical options to ensure that Apple Watch is available to customers," the company said. "Should the order stand, Apple will continue to take all measures to return Apple Watch Series 9 and Apple Watch Ultra 2 to customers in the U.S. as soon as possible."
Sales of the Apple Watch Series 9 and Apple Watch Ultra 2 from Apple.com will be paused starting December 21, and from Apple retail locations after December 24.
The devices are still able to be sold at other retailers.
Following the ITC's ruling in October, the case was sent to the Biden Administration for a 60-day Presidential Review Period, which expires December 25. President Biden could still veto the ruling.
Link to Seeking Alpha News Article - Dec. 18, 2023
Apple mulls software workaround for watches hit by sales curbs - report
Apple (NASDAQ:AAPL) is planning to make software changes in an effort to avoid halting sales of some of its Watch models in the U.S. amid an ongoing patent dispute with Masimo (NASDAQ:MASI), Bloomberg News reported.
Sales of the Apple Watch Series 9 and Apple Watch Ultra 2 from Apple.com will be paused starting December 21, and from Apple retail locations after December 24.
The devices are still able to be sold at other retailers.
Engineers at the tech giant are racing to make changes to algorithms on the watch which measure a person's blood oxygen level, a feature which Masimo (MASI) says infringes its patents. They are adjusting how the technology decides oxygen saturation and presents the data to customers, the report addedciting people people with knowledge of the matter.
Separately on Tuesday, Masimo (MASI) Chief Executive Joe Kiani said that he would be open to settling with Apple, but did not give details on how much money he would seek.
Link to Seeking Alpha News Article - Dec. 19, 2023
Adobe, Figma agree to terminate merger amid regulatory obstacles
Adobe (NASDAQ:ADBE) and Figma said on Monday that they had mutually agreed to terminate their $20B merger amid rising regulatory headwinds across the globe.
In a statement, the two companies said they believe "there is no clear path to receive necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority."
As a result of the deal ending, Adobe (ADBE) will pay Figma $1 Billion in termination fee.
Link to Seeking Alpha News Article - Dec. 18, 2023
Google to pay $700 million to settle Play Store lawsuit
Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) will pay $700 million and expand billing options in Google's Play app store as part of a settlement of an antitrust lawsuit brought on by 36 U.S. states and Washington, D.C. against the search giant.
App developers will also be able to implement an alternative billing option besides that of Google Play, a program that Google (GOOG) (GOOGL) has been piloting in the U.S. for over a year. The settlement also requires Google to simplify app downloads directly from developers' websites.
The settlement comes as Google (GOOG) (GOOGL) faces multiple antitrust lawsuits. It recently lost a legal battle over its alleged app store monopoly against Fortnite maker Epic Games, although it plans to challenge the verdict.
Link to Seeking Alpha News Article - Dec. 19, 2023
OXY 0.00%↑ ET 0.00%↑ OII 0.00%↑
Commodity Roundup: Oil gains for 7th session amid Red Sea crisis; precious metals fall
Oil prices advanced to a seventh consecutive session Wednesday amid Red Sea tensions after recent attacks by Iran-aligned Yemeni Houthi militants. Both the benchmarks rose more than 1% on Tuesday on concerns over global trade disruption, as the biggest shipping companies avoid one of the world's busiest shipping lanes. BP has also paused all shipments of oil through the Red Sea.
The US is considering military action against the Houthis, though still prefers a diplomatic solution, Bloomberg has reported.
Washington announced Monday it’s working with Western and Arab allies to bolster a maritime protection force that’s meant to secure ships navigating the Red Sea, which carries nearly 12% of global trade.
More than 100 container ships are now taking the long route around Africa to avoid violence, creating extra costs and delays, according to Swiss logistics giant Kuehne+Nagel International AG.
Link to Seeking Alpha News Article - Dec. 20, 2023
Link to Bloomberg News Article - Dec. 20, 2023
MSFT 0.00%↑ GOOG 0.00%↑ GOOGL 0.00%↑
UK Supreme Court rejects appeal to grant patent on inventions from AI - report
In a landmark case in the U.K., an American computer scientist lost his appeal to register patents on inventions created by his artificial intelligence system, Reuters reported.
Stephen Thaler wanted two patents to be issued in the U.K. over inventions he said were devised by his "creativity machine" called DABUS, the report added.
Thaler's attempt to register the patents was refused by Britain's Intellectual Property Office on the grounds that the inventor must be a human or a company, not a machine.
Thaler appealed to the U.K.'s Supreme Court, which on Wednesday unanimously rejected the appeal.
Judge David Kitchin, while announcing the ruling, said that under the country's patent law "an inventor must be a natural person," the report noted.
In April, Thaler lost a similar appeal in the U.S. Supreme Court wherein the court declined to hear a challenge to the U.S. Patent and Trademark Office's rejection to issue patents for inventions created by his AI system.
Link to Seeking Alpha News Article - Dec. 20, 2023
MSFT 0.00%↑ SNOW 0.00%↑ BRZE 0.00%↑ TEAM 0.00%↑
Microsoft is Wells Fargo's top software pick for 2024
The research firm noted that based on its year-end CIO survey, more than 90% of respondents said they expect their budgets to grow next year, with roughly 50% seeing high-single digit growth or higher. Microsoft (MSFT) received the most mentions of being the recipient of an increase in spending.
The firm also expects data and artificial intelligence to be a major focus, with Snowflake (NYSE:SNOW) and Braze (BRZE) as its top picks in the space.
Also expected is a "gradual" rotation from investors back to into growth names, with Atlassian (TEAM) its top pick.
Link to Seeking Alpha News Article - Dec. 20, 2023
Winners and losers from Edmunds' test of electric vehicle charging times
While automakers make various claims about fast charging times and range added per minute, Edmunds noted that it is nearly impossible to compare the different automaker claims and understand which vehicles are actually the best.
Edmunds said it teamed up with EV-testing specialists at P3 to get the most detailed charging data. The research firm then combined P3's data with Edmunds data on how much electricity a car uses per mile of driving to report back actual miles per charging hour.
The model that scored the best with the Edmunds metric of tested miles per charging hour was the 2024 Hyundai Ioniq 6 Limited RWD at 868 miles per hour in ideal conditions. The South Korean automaker also took several of the other top ten spots with the Kia EV6 and other variations of the Ioniq model. The Porsche Taycan 4S and Taycan GTS made the top ten, as did the 2024 Mercedes-Benz EQS 450+, Genesis Electrified G80, and Tesla (TSLA) Model 3. Scoring at the very bottom of the fast-charging list were two versions of the Ford Mustang Mach-E, two versions of the Chevrolet Bolt, and three Rivian Automotive (RIVN) models.
Link to Seeking Alpha News Article - Dec. 20, 2023
AMZN 0.00%↑ TXT 0.00%↑ BA 0.00%↑ LMT 0.00%↑
Jeff Bezos' Blue Origin said to vie with Cerberus to acquire SpaceX rival
United Launch Alliance received buyout bids from Blue Origin, the space-exploration company owned by Amazon (AMZN) founder Jeff Bezos, and Cerberus, the private-equity firm led by billionaire Stephen Feinberg, The Wall Street Journal reported Thursday, citing people familiar with the matter.
Textron (NYSE:TXT), whose aviation brands include Bell helicopters, also expressed interest in ULA, the newspaper reported.
ULA is jointly owned by Boeing (NYSE:BA) and Lockheed Martin (NYSE:LMT), and had dominated rocket launches for the U.S. Department of Defense before Elon Musk founded SpaceX.
Link to Seeking Alpha News Article - Dec. 21, 2023
ASML 0.00%↑ #Canon
ASML ships first $300M “High NA” extreme ultraviolet lithography system to Intel
The new machines will help chip makers produce smaller and faster semiconductors, Reuters reported.
They are expected to be used in commercial chip manufacturing starting by 2027.
The Dutch semiconductor equipment maker is the dominant maker of machines that use lasers to help create the circuitry of chips, known as lithography systems.
In October 2023, Canon said its nanoimprint semiconductor manufacturing systems can make semiconductors the same as a 5 nanometer process and go as small as 2 nanometers.
Link to Seeking Alpha News Article - Dec. 22, 2023
$BYDDF
BYD Company secures deal to make electric vehicles in Europe
BYD Company Limited (OTCPK:BYDDF) pushed higher in Friday trading after announcing that it plans to build its first European automobile manufacturing plant in Szeged, Hungary. The plant is expected to have a capacity of around 200K vehicles. BYD (OTCPK:BYDDF) already has a presence in Hungary, with an electric bus plant in Komarom.
Hungary Foreign Minister Péter Szijjártó said the project will be one of the largest investments in Hungarian economic history.
Bernstein said BYD (OTCPK:BYDDF) development is the first step towards a serious competitive entry into Europe by the Chinese EV juggernaut, and will start the clock on a two-year to three-year timeline for production. "BYD is stepping up its overseas expansion as its domestic market share sees a peak," noted analyst Daniel Roeska.
BYD Company (OTCPK:BYDDF) also received some positive attention from Barron's on Friday, which called it a better electric vehicle stock bet than Tesla (TSLA) for 2024.
Link to Seeking Alpha News Article - Dec. 22, 2023
Opinion Pieces - Facts & Opinions - Long Reads
Why I Sold Out Of JEPQ
But times have changed. Real rates have gone down by 70 basis points in the past month. Over time this will shift funds back into risky assets, and lead to at least a generally buoyant market. In this type of market, JEPQ will underperform. The underperformance will be intensified by the mismatch between JEPQ’s stocks and options.
So we are basically at yearly lows for QQQ vol. In fact, the only time in history I could find where implied vol was lower was in the second quarter 2017. In most mean reverting markets, like implied vol, selling near all-time lows is not a good idea. Other measures of option pricing like option skew and historical volatility are also near record lows.
Link to Seeking Alpha Opinion Piece - Dec. 18, 2023
Tesla: How A Cybertruck Video Made Me Realize The New Era Of EV Performance
This is why when I saw Tesla's Cybertruck video racing a Porsche 911 while towing a Porsche 911, I had to stop and think, "OK, marketing or not, it still proves a point about the vehicle or, at the very least, EVs."
My racing and car senses began to well up, and I realized I was watching a new era of vehicles come to light.
Link to Seeking Alpha Opinion Piece - Dec. 20, 2023
Disclosure: We own positions in some/all of the tickers mentioned in this article.
