1.Nvidia Overtakes Apple As The World’s Most Valuable Company
Reference: Blog City and UK News and MF and 9 Naga
Nvidia overtook Apple as the world’s most valuable company on Friday, following a record-breaking stock gain driven by insatiable demand for its new supercomputer AI chips. 9 Naga Dragon.
Nvidia’s stock market value briefly touched $3.53 trillion, while Apple’s stock market value was $3.52 trillion, according to data from LSEG. Mfuri.
In June, Nvidia became the world’s most valuable company, followed by Microsoft and Apple. The market capitalization of the trio of technologies has been fiercely competitive for several months. Microsoft’s market value reached $3.20 trillion.
Nvidia shares have risen about 18 percent so far in October, with a string of gains coming after OpenAI, the company behind ChatGPT, announced a funding round of $6.6 billion. Nvidia provides chips that are used to train so-called base models such as GPT-4 OpenAI.
“More companies are now using artificial intelligence in their daily tasks and demand for Nvidia chips remains strong,” said Russ Mould, investment director at AJ Bell.
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“It is certainly in the right position and as long as we avoid a major economic downturn in the United States, there is a feeling that the company will continue to invest heavily in AI capabilities, creating a breath of fresh air for Nvidia.”
Nvidia shares hit a record high on Tuesday, building on a rally from last week when TSMC, the world’s largest contract chipmaker, posted a 54 percent jump in quarterly profit that beat estimates driven by surging demand for chips used in AI.
The next big test will come when Nvidia reports its third-quarter results in November. Nvidia in August forecast third-quarter revenue of $32.5 billion, plus or minus 2 percent, compared with the current average analyst expectation of $32.90 billion, according to data compiled by LSEG.
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Morgan Stanley analyst Joseph Moore said in a note dated October 10 that he remained “very optimistic” about the company in the long term, but the recent rally “slightly raised the bar on earnings”.
After a meeting with Nvidia CEO Jensen Huang, Moore noted the increased production of next-generation Blackwell chips appears to be “quite strong” and booked for 12 months. The stock came under pressure in August after Nvidia confirmed reports that Blackwell chip production was delayed until the fourth quarter.
Shares of Nvidia, Apple, and Microsoft have enormous influence on the highly-rated technology sector as well as the broader U.S. stock market, with all three accounting for about one-fifth of the S&P 500’s weighting.
The frenzy surrounding the AI outlook, expectations that the U.S. Federal Reserve will cut interest rates significantly, and most recently, an optimistic start to earnings season, have pushed the benchmark S&P 500 to an all-time high last week.
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Nvidia’s huge gains have helped boost the stock’s appeal to options traders and the company’s options have been among the most traded on any given day in recent months, according to data from options analysis provider Trade Alert.
The stock has surged nearly 190 percent so far this year as a boom in generative AI prompted the company to issue a series of surprise forecasts.
“The question is whether the revenue stream will last and will be driven by investor emotions rather than by any ability to prove or disprove the thesis that AI is already overrated,” said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.
“I think Nvidia knows that in the near future, their numbers are likely to be pretty incredible.”
2. Apple Maps introduces a new way to explore the world
Starting today, users can find out where to hike in national parks in the United States, create custom walking routes, save favorite locations in the places Library, and more
With the release of iOS 18, iPadOS 18, macOS Sequoia, and watchOS 11 today, Apple Maps is introducing new features to help users explore and find places they love.
“Apple Maps is the ultimate solution for navigating and exploring the world, and we’re excited to make the experience even better for our users with today’s update,” said Eddy Cue, Senior Vice President, services, Apple. “Maps make it easy and convenient for us when planning a trip, with interesting, detailed and useful features that only Apple can provide.”
Complete National Park hiking information and topographic maps
Users can browse thousands of hikes in national parks in the United States – from Acadia National Park in Maine, Yosemite National Park in California, to Denali National Park and reserve in Alaska – on iPhone, iPad, Mac, and Apple Watch. To find the right path, users can filter hikes by route type, length, and elevation, and then follow turn-by-turn navigation to stay on track. Users can download hikes to use when offline and store them on their Apple Watch. Starting today, the map also displays shuttle schedules for select national parks, including Bryce Canyon National Park in Utah and Sequoia National Park in California.
Topographic maps on iPhone and Apple Watch are also available in the US and Japan, with stunning details like contour lines, path details, and more.
the iPhone 16 features hike search on Apple Maps.
the iPhone 16 features an Apple Maps screen showing the ascent of Mirror Lake Loop with length and elevation information.
the iPhone 16 featured a hike, The Mirror Lake Loop in Yosemite National Park, saved to the user’s library.
the iPhone 16 features hike search on Apple Maps.
Users can browse thousands of hikes in United States national parks on iPhone, iPad, Mac, and Apple Watch.
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Special Walking Routes
For the first time, Map users in countries and regions around the world can create and save custom hiking and walking routes. Users can create routes according to their preferences, whether for long-distance walking in a new city, or hiking in a nearby nature reserve. Like hikes in national parks, dedicated routes can be accessed while away from cellular service or Wi-Fi when synced to Apple Watch.
the iPhone 16 features an Apple Maps screen with custom routes.
Map users in countries and regions around the world can create and save custom hiking and walking routes.
New Place Library and enhanced search experience
Now it’s easier for users to keep track of their favorite places and discover new places of interest. On iPhone, iPad, and Mac, users can save places, selected Map guides, National Park hikes, and custom routes to the recent places Library, and add personal notes about each.
With an enhanced search experience, users can also quickly find and compare places by looking at various photos, ratings, price levels, etc., without leaving the search. The updated “Search Here” button on the map allows users to search for places in a specific area, such as restaurants, coffee shops and refueling points.
3. Apple wins $250 US jury verdict in patent case over Masimo smartwatch | tech news
Apple convinced a federal jury on Friday that an early version of its health-monitoring technology company Masimo’s smartwatch infringed two of its design patents as part of a broader intellectual property dispute between the two companies.
A jury in Delaware agreed with Apple that earlier versions of the W1 and Freedom Masimo watches and Chargers deliberately infringed Apple’s patents in smartwatch design.
But the jury awarded only $250 in damages to the tech giant, which has a fortune of about $3.5 trillion – the minimum number of violations under the law in the United States.
Apple’s lawyers told the court that the “ultimate goal” of its lawsuit was not money, but to win an injunction against the sale of Masimo smartwatches after a misdemeanor conviction.
In this case, the jury also ruled that Masimo’s current Watch does not infringe Apple patents covering inventions that the tech giant alleges were copied by Masimo.
Masimo said in a statement that it appreciated the jury’s decision “in favor of Masimo and against Apple on almost all issues,” and that the decision applies only to “discontinued modules and Chargers.”
“Apple is essentially asking for a court decision against Masimo’s current products, and the jury’s decision is a victory for Masimo in the matter,” Masimo said.
Apple said in a statement that it was “pleased today’s jury decision will protect the innovations we develop on behalf of our customers.”
Irvine, California-based Masimo accused Apple of hiring its employees and stealing its pulse oximetry technology after discussing potential collaborations.
Masimo convinced the U.S. International Trade Commission last year to block imports of Apple’s Series 9 and Ultra 2 smartwatches after the commission found that their technology for reading blood oxygen levels infringed on Masimo’s patents.
Apple has appealed the decision and resumed selling the watch after removing the technology. The tech giant counter-sued Masimo for patent infringement in 2022, accusing Masimo of copying Apple Watch features for use in its smartwatches.
Apple also accused Masimo of using lawsuits in the ITC and California to “make way for Masimo’s own watches.”
Masimo said Apple’s patent lawsuit was “retaliation “and ” an attempt to avoid the court where the parties filed their disputes.”