🗞️ MacBook Pro updated

October 31, 2024   |   Listen Online   |   Read Online Brought to you by: Top stories today: MacBook Pro lineup updated by Apple with M4 chips Microsoft Cloud helps boost quarterly revenue +16% YoY to $65.6B Meta falls short on user growth, CAPEX grows faster than net income GDP increases at 2.8% ahead of president election FTX's Nishad Singh gets no jail time for role in crypto fraud Follow us on X | Instagram | Advertise 2024 election forecast provided by our partners at Polymarket. 0. Data and calendar All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). All times are ET. Listen to our AI-generated podcast summarizing today's newsletter (beware the few hallucinations): Bay Area Times Daily - Oct. 31, 2024 ►   Play Online 1. MacBook Pro lineup updated by Apple with M4 chips Apple. M4, M4 Pro, and M4 Max options. 12MP Center Stage camera. Thunderbolt 5 on the M4 Max models for faster data transfers. Nano-texture display option. Nov. 8: shipments will start in the U.S. and other initial markets. $1,599 starting price for the 14-inch MacBook Pro M4 and $2,499 for the 16-inch one. Apple has launched the M4 Max as its top-end chip with a 16-core CPU, up to 40-core GPU, and up to 128GB RAM Apple. Additionally, Apple has made 16GB RAM as the base option for the MacBook Air M2 and M3 models Apple. Pricing unchanged, starting at $999. 2. Microsoft Cloud helps boost quarterly revenue +16% YoY to $65.6B, operating income +14% to $30.6B +20% YoY in Microsoft's cloud revenue in Q1 FY25 to $24.1B. "AI business on track to surpass an annual revenue run rate of $10B next quarter," Microsoft CEO Satya Nadella said during its earnings call. Microsoft partially attributed its $683M equity investment expenses in Q1 to OpenAI stake losses $1.5B impact on income is expected in this quarter, mainly due to OpenAI's ongoing losses. $13B in total funding commitments to OpenAI, Microsoft disclosed in its filing. Microsoft's stock was -3.7% to $416.41 ($3.21T market cap) in trading after the bell on weak guidance MarketWatch: Microsoft stock. $68.1B–$69.1B revenue, +10.6% growth, estimated for the current quarter, vs. $69.8B analysts expected. 3. Hiring the best Product & Data team just got 70% cheaper. Today we are highlighting AI talent for you courtesy of our partner, Athyna. If you are looking for the best bespoke tech talent, these stars are ready to work with you—today! Reach out here if we can make an introduction to these talents and get $1,000 discount on behalf of us. Start hiring today *Disclaimer: We have equity in Athyna. 4. Meta falls short on user growth, CAPEX grows faster than net income +5% YoY in Q3 DAUs to 3.29B but below estimates of 3.31B: Meta. +19% in sales to $40.6B. Meta AI now has 500M+ users. Net income was +35% to $15.7B, the lowest growth rate since Q2 2023 Meta. Meta's CAPEX was +36% to $9.2B in Q3 Meta. $38B–$40B CAPEX guidance for 2024, up from $37B–$40B previously. Llama 4 models are being trained on a 100K+ H100 chip cluster, said Zuckerberg. Meta stock is -4%, likely due to higher CAPEX guidance. Meta's Reality Labs logged a -$4.4B quarterly loss on $270M revenue, from -$3.7B in Q3 2023 Meta, CNBC. 5. GDP increases at 2.8% ahead of president election Bloomberg, Bureau of Economic Analysis. Consumer spending was +3.7%, government spending +5.0%, fixed investment +3.3%, and residential investment -5.1%. Core PCE inflation was -2.2%, in line with the Fed target. Annual GDP growth has remained above 2.5% for 6 consecutive quarters, marking the longest stretch since 2006 Bloomberg, Bureau of Economic Analysis. 6. FTX's Nishad Singh gets no jail time for role in crypto fraud Sentenced to time served and 3 years of supervised release. Ordered to forfeit $11B. 75 years of maximum sentence was faced by Singh earlier. Far more limited involvement than that of FTX founder SBF or Caroline Ellison, the judge said. 7. BYD quarterly revenue surpasses Tesla for first time ever Bloomberg, Tesla, BYD. +24% YoY growth in BYD's revenue in Q3 to $28.2B (CNY 201.1B), vs. Tesla's $25.2B. +11.5% in net income to $1.6B, vs. Tesla's $2.2B. 1.13M deliveries by BYD in Q3, vs. 463K by Tesla. 8. China's economy shows signs of improvement days after stimulus measures announced Bloomberg, National Bureau of Statistics. Manufacturing purchasing managers' index rose to 50.1 from 49.8 in Sep., vs. 49.9 forecasted by analysts. Non-manufacturing PMI also grew marginally to 50.2, from 49.8. 9. South Korea's chip production declines for first time in 14 months Bloomberg, Statistics Korea. -3% in nationwide semiconductor production in Sep., after gaining 11% a month earlier. +1% in shipments from +17% in Aug. -42% in inventory levels. 10. Interesting videos, posts, and memes Karri Saarinen: How to Grow Capital Efficiently in a World of BS Growth | E1221 Steal my idea bank playbook 11. Other headlines AI Amazon delays Alexa update to 2025 from earlier Oct. 2024 schedule: sources. OpenAI expands Realtime API with 5 new voices, cuts caching prompt costs. Software Engineer or Architect? Hire Both!* *Sponsored. Tech Siemens to buy Altair for ~$10B; deal to close in H2 2025. Dropbox cuts 528 jobs, 20% of workforce. Block-owned Tidal to lay off ~25% of workforce: sources. Tech earnings Samsung Q3 revenue +17% YoY to $57.4B, -40% chip profit to $2.8B. DoorDash Q3 revenue +25% YoY to $2.71B, +18% total orders to 643M. eBay Q3 revenue +3% YoY to $2.58B, +2% GMV, -51% net income to $636M. Roku Q3 revenue +16% YoY to $1.06B, 85.5M streaming users. Reddit Q3 revenue +68% to $348M, stock +42% on Wed. monday.com connects and empowers teams to excel in every aspect of work. Get started now!* *Sponsored. Tech & law Kakao founder Brian Kim accused of stock rigging released on bail. Biotech FDA says lowest dose of Novo Nordisk's weight-loss drug now available. Eli Lilly shares tumble as Q3 misses estimates. Business UK budget includes $52B in new taxes. Taiwan's GDP +4% in Q3, more than +3.4% expected. Japan's BOJ keeps short-term rates steady at 0.25%, flagging global risks. Crypto MicroStrategy wants to raise $42B to buy BTC. Coinbase Q3 revenue +79% YoY to $1.21B, $75M net income. Robinhood Q3 revenue +36% YoY to $637M, crypto revenue +165% to $61M. Kraken lays off 15% of workforce, ~400 employees, including CTO, COO. U.S. politics Trump allies draw up plans targeting legal immigration. Elon Musk ordered to court over $1M giveaway in election. Trump drives in garbage truck to draw attention to Biden remarks. World Trump told Netanyahu to end Gaza war by time he takes office: sources. North Korea test-fires ICBM for 1st time in year. 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