(Corrects to change Bitcoin losing value, not adding)
April 13 (Reuters) - Bitcoin fell 7.1% to $62,346 at 20:31 GMT on Saturday, losing $5,050 from its previous close.
Bitcoin, the world's biggest and best-known cryptocurrency, is down 15.8% from the year's high of $73,794 on March 14. (Reporting by Urvi Dugar in Bengaluru; editing by Jonathan Oatis)
Apple's plan to add generative AI to its iPhones and revive sagging sales in the crucial Chinese market will be in focus on Thursday, when the tech giant is expected to report its biggest quarterly revenue decline in more than a year. Long considered a must-own stock on Wall Street, Apple shares have underperformed other Big Tech companies in recent months, falling more than 10% year to date as fears mount about its slow roll out of AI services and as a resurgent Huawei takes market share in China. Analysts on average see iPhone sales, which account for about half of Apple's revenue, falling 10.4% in the first three months of 2024, according to LSEG.
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TikTok may be routing around the App Store to save money on commissions. According to new findings, the ByteDance-owned social video app is presenting some of its users with a link to a website for purchasing the coins used for tipping digital creators. Typically, these coins are bought via in-app purchase, which requires a 30% commission paid to Apple. The feature may be hidden from most users, either by design or because it's only shown to users in a specific group, like testers or high spende
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In a sign of trouble for Apple iPhone business, the chip maker Skyworks Solutions provided a warning to investors about softening demand for smartphones. Skyworks makes analog and mixed-signal chips used by Apple and other handset makers. Skyworks in its September 2023 fiscal year generated 66% of revenue from a single customer—Apple.
Investors are putting intense pressure on Apple to reveal its AI roadmap as competitors widen their lead with a deluge of new AI products.
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Huawei’s profits have surged more than six-fold after the Chinese technology champion overcame Western sanctions to steal market share from Apple.
Apple Inc (NASDAQ:AAPL) has aggressively recruited dozens of artificial intelligence experts from Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, establishing a secretive AI laboratory in Zurich, Europe. This move comes as the company intensifies its efforts to lead in new AI model and product development. Apple, valued at $2.7 trillion, has been expanding its global AI and Machine Learning team by poaching many specialists from Google since hiring John Giannandrea as its top AI executive in 2
A slumping stock price has tempered Apple’s valuation, making another weak iPhone report less risky.