Tag: Consumer spending

GlobalFoundries opens $4 billion Singapore plant to meet soaring demand for semiconductor chips, doubling industry size. Strong global presence and innovation.

Get insights into what to expect from the markets in the week of July 24th, including Nasdaq-100 rebalancing, AI sector capital influx, supply chain issues, Federal Reserve policy update, corporate earnings reports, and more.

Artificial intelligence stocks have soared in value, but it may be time for investors to consider selling. C3.ai's Q1 revenue projection fell short, while Upstart faces challenges due to hesitant banks. Nvidia's AI success made it a trillion-dollar company, but consumer spending cuts have impacted its gaming segment. Be cautious of high prices and assess long-term potential before trading. Consider taking profits while the market is rallying. Check out the full article for in-depth information.

Meituan, the Chinese food delivery and services provider, reported a net profit of RMB 3.36 billion in the first quarter of 2023, boasting a return to profitability. Revenue from local commerce such as food delivery, in-store, hotel, and travel also increased by 25.5%. CEO Wang Xing is credited for driving the success of the company by revolutionizing different businesses and adapting to consumer needs in China.

This Week in Apps: keep up-to-date about the world of mobile operating systems, apps, and the app economy. According to data.ai, consumer spending on apps decreased 2% in 2020 to $167 billion, but total downloads rose 11% to 255 billion. Jack Dorsey and Elon Musk have stirred things up in the tech industry, with Dorsey's Bluesky platform gaining attention, and Musk's Tesla decisions facing criticism. Google and Apple have partnered to combat unwanted tracking, DistroKid released its first mobile app, and RTRO started a new social networking service. Dorsey and Musk are giants in tech, and their roles are important!