Technology

By Dan Gallagher Apple has finally parked its expensive car dreams. The timing is good, as its other ambitions require a lot of gas in the tank. Apple took the formal step recently of telling employees on its car project — dubbed Project Titan — that it is shutting down the program and redirecting its efforts toward generative artificial intelligence, The Wall Street Journal reports. Neither are terribly surprising moves. The car effort has been under way for at least a decade with various starts and stops but ultimately made little sense for a company with no experience in producing any form of vehicle — and powerful reasons to avoid such a low-margin business. Generative AI, meanwhile, is the hottest thing going in tech. It is now the prime focus of Apple’s big-tech competitors and has turned chip maker Nvidia into the third most valuable U.S. company — behind Apple […]

By Angela Palumbo Apple stock has fallen nearly 8% this year and a move by Goldman Sachs to remove the tech giant from its “Conviction List” on Friday has only sent the shares lower. Goldman Sachs analysts removed Apple from the U.S. Conviction List on Friday after the stock spent 274 days there. The list includes between 20 and 25 “of what we believe to be our most differentiated fundamental Buy ideas across our U.S. stock coverage,” the firm said. Shares of Apple were down 1.5% Friday to $178.01. Goldman Sachs didn’t clarify the exact reasoning for removing Apple from the list. In the research note, the firm said there are many reasons a stock could get removed, including a rating downgrade, price realization, the passage of catalysts, or the subcommittee believing there are better opportunities elsewhere. Apple has been lagging its peers this year in the Magnificent 7 —

By Jacob Sonenshine The stock market just doesn’t want to go down right now, but no one should let their fear of missing out on gains override their risk management. Nothing looks like it can stop the market. The Nasdaq Composite is on pace to close at a new all-time high, up 1.6% for the week, while the S&P 500 is on pace to close the week up 0.8%, which would also be a record. The benchmark index has now risen for two consecutive weeks. We know what investors are thinking. The gains can keep coming, driven by an economy that is neither too hot nor too cold. The personal consumption expenditures price index rose 2.4% year over year in January, in line with estimates, and durable-goods orders came in lower than expected. The economy is growing, but only moderately, and the Federal Reserve can keep thinking about when it