Tesla Reports Optimistic Outlook with Record Revenue and Orders

Tesla reported Q4 earnings after the market close Wednesday of $1.19 earnings per share beating the consensus of $1.13 per share. Revenue rose to $24.32 billion ahead of the consensus $24.16 billion. $TSLA shares rose more than 9% after CEO Elon Musk said the company might be able to produce 2 million cars this year. The Tesla company acknowledged that average sales prices have “generally been on a downward trajectory for many years,” and said “affordability” would be necessary for … Continue reading “Tesla Reports Optimistic Outlook with Record Revenue and Orders”

Bitcoin Falls 65% in 2022 Failing to Live Up to the Store of Wealth Billing

Leading cryptocurrency Bitcoin in 2022 failed to live up to its desired purpose esposed by its proponents as being a safe asset that only went up and was disconnected from fiat currencies. In 2022 Bitcoin dropped 65%, Solana collapsed 94%, Cardano 81% and Ethereum lost 68%. BTC was hovering around $16,500 on December 30, well below its all-time high of nearly $70,000 hit in November 2021. The fall coincided with the rise in interest rates and the strength of the … Continue reading “Bitcoin Falls 65% in 2022 Failing to Live Up to the Store of Wealth Billing”

Micron Lowers Guidance with Severe DRAM and NAND Supply and Demand Imbalance

Memory chip maker Micron reported lower fiscal first-quarter revenue, which dropped by nearly half to $4.09 billion as prices fall for both main types of memory, DRAM and NAND. MU reported a worse than expected net loss of $195 million for the quarter after the bell Wednesday. Revenue, margins and earnings were hit further by lower memory prices and industry oversupply that are driving the chipmaker’s grim outlook. Micron earnings have been drastically hurt by China weakness which is 30% … Continue reading “Micron Lowers Guidance with Severe DRAM and NAND Supply and Demand Imbalance”

Crypto Tokens are Like Pet Rocks says JPMorgan’s Jamie Dimon

In an interview Tuesday on CNBC JPMorgan CEO Jamie Dimon commented on cryptocurrencies and their delusion, as he has warned a number of times. He labelled them “decentralized Ponzi schemes” back in October. A clearly annoyed Dimon with the incompetency of CNBC and their ilk when asked on Crypto, who we should remind was mocked multiple times by crypto zealots and pay for play analysts like those on CNBC responded in kind. When asked about after the FTX mega or … Continue reading “Crypto Tokens are Like Pet Rocks says JPMorgan’s Jamie Dimon”

Digital Platform Coinbase Nears All-Time Low in Wake of FTX Collapse, Where to for COIN?

Digital banking platform Coinbase has had quite the traumatic experience since it went public last year. Trading under the symbol $COIN, shares of Coinbase Global, on Wednesday touched near all-time lows as Bitcoin nears two-year lows. The surprising collapse of billionaire Sam Bankman-Fried’s FTX exchange continued to reverberate around cryptocurrencies from FTX’s liquidity crunch. The collapse opened Pandora’s box with the Binance-FTX deal as more dominoes fall over with liquidations. A federal probe into FTX’s actions reportedly is underway. Digital … Continue reading “Digital Platform Coinbase Nears All-Time Low in Wake of FTX Collapse, Where to for COIN?”

Fitch Says Lack of Crypto Regulation Limits Further U.S. Bank Participation

The lack of a federal regulatory framework will likely limit U.S. bank participation in digital assets and the blockchain in the near-term Fitch Ratings says. U.S. banks have generally taken an “asset-light approach to digital assets”. This includes offering custody and collateral settlement via blockchain networks and issuing stable coin-based payment solutions. BNY Mellon recently began accepting bitcoin and ether from customers after receiving approval by the New York Department of Financial Services (NYDFS). For banks it’s about security, customers … Continue reading “Fitch Says Lack of Crypto Regulation Limits Further U.S. Bank Participation”

Tesla Revenues Miss, Margins Decline on Strong US Dollar on Production and Delivery Bottlenecks

Tesla reported Q3 earnings after the market close Wednesday of $1.05 earnings per share beating the consensus of $0.99. Revenue rose to $21.5 billion but missed analysts’ projections of $21.96 billion. $TSLA cited the higher US dollar and higher costs related to a slower-than-expected ramp up in output at the new factories in Austin and Berlin. Additionally, there was difficulties shipping vehicles. Tesla expects to begin delivering the new Semi Truck in December. Tesla shares fell after hours to $214.83 −$7.21 or … Continue reading “Tesla Revenues Miss, Margins Decline on Strong US Dollar on Production and Delivery Bottlenecks”

Micron Lowers Guidance as DRAM on NAND Chip Sales Persist in Down Cycle

Memory chip maker Micron report lower fiscal fourth-quarter revenue and warned for the next quarter after the bell Thursday. $MU beat with Adj EPS of $1.45 over expected $1.37 but revenue of $6.64Bil missed exp $6.80Bil. The chipmaker sees Q1 Adj Revenue of $4B To $4.5B down from exp $6.02B. This comes after MU Recently warned revenue may come in at or below the low end of the revenue guidance range. Revenue, margins and earnings were hit further by lower … Continue reading “Micron Lowers Guidance as DRAM on NAND Chip Sales Persist in Down Cycle”

Micron Downside Risks on DRAM on NAND Chip Sales Persist

Memory chip maker Micron is set to report fiscal fourth-quarter results after the bell Thursday. Recently $MU warned revenue may come in at or below the low end of the revenue guidance range. Revenue, margins and earnings may be hit further by lower memory prices and industry oversupply that are driving the chipmaker’s grim outlook. Both Mizuho and Wells Fargo analysts downgraded Micron last week. Micron earnings have been drastically hurt by China weakness which is 30% of the company’s … Continue reading “Micron Downside Risks on DRAM on NAND Chip Sales Persist”

How the Ethereum Merge Changes the Cryptocurrency Marketplace

The Ethereum merge went through without a hiccup, except the Ether price did fall over 10%, 15% top to bottom. The event that cryptocurrency investors had been excited about for a long time. The Ethereum crypto network runs Ether, the world’s second-most-valuable digital currency merged early Sept. 15. The migration of Ethereum to proof-of-stake has created much excitement since the successful merge in testnet. The Merge will change how transactions on Ethereum are ordered with the aim for the network … Continue reading “How the Ethereum Merge Changes the Cryptocurrency Marketplace”