A top equities analyst, drawing on his knowledge of the company’s suppliers, predicts “limited downside risks” for Apple’s share price. He follows Morgan Stanley’s sentiment last week that the worst could now be over for the tech giant’s stock. Ming-Chi Kuo Says Q2 iPhone Results Will Beat Expectations Ming-Chi Kuo is an analyst with TF International Securities. According to CNBC, he says there are now: Limited downside risks for Apple and iPhone suppliers’ share prices. He added that iPhone shipments in the second quarter of 2019 will outperform market consensus, though Apple may still see a year-on-year fall in iPhone
Investment management firm Invesco has suggested that opportunities exist in China despite the earnings warnings that U.S multinationals have issued in response to the ongoing trade war. Speaking to CNBC, Invesco’s chief global market strategist, Kristina Hooper, stated that U.S. companies have “overly blamed China” for revenue declines: There’s a lot of fear around China.
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US stock market futures are signaling deep cuts to open the second trading session of 2019, with contracts tracking the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 all implying losses of more than 1.2 percent. Dow, Tech-Heavy Nasdaq Take Deep Cuts on Thursday As of 8:08 am ET, Dow futures had shed 301
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Several reports over the past week have suggested that the stock price of Nvidia has dropped due to a drop in demand for crypto mining. Fool.com’s report, for instance, read: NVIDIA’s revenue growth is expected to drop into the single digits this quarter. The reason: weak demand for graphics cards. Cryptocurrency mining was a key
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With the bitcoin price trading more than 80 percent below its all-time high, not even Bitmain, the world’s largest cryptocurrency mining firm and the crypto industry’s most valuable company, has been immune from the slaughter. According to Israeli business publication Globes, the China-based Bitmain has closed Bitmaintech Israel, the development center it set up two … Continued
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Bitmain’s beleaguered IPO faces further challenges as the latest Trump tariffs hit mining hardware. The situation is also likely to affect planned IPOs by Canaan and Ebang according to the South China Morning Post.
Bitmain must have hoped that the controversy regarding its oft-touted IPO was behind the company. At the end of September, Bitmain publicly released its financial standings for the first time. Following this announcement, the company finally filed for the Hong Kong-based IPO — although it didn’t release any further data regarding valuations or share price.
Cryptocurrency exchange Bitfinex denied what it called “rumors” and “allegations” about its alleged insolvency on October 7, revealing cold wallet balances in an attempt to prove its financial stability.
‘Bitfinex Is Not Insolvent’
In a blog post, executives hit back at “watchful ‘investigators’” who it says were “eagerly anticipating and predicting the industry’s collapse.”
“Bitfinex is not insolvent, and a constant stream of Medium articles claiming otherwise is not going to change this,” the post reads.
The rebuttal had come as the result of a report claiming that the exchange’s operations and online actions had led its author, known as ‘ProofOfResearch,’ to “believe” it was bankrupt.
Make sure you check out our previous edition here, now let’s go over what happened in crypto this week. Also, make sure you subscribe for this week’s edition of The CCN Podcast on iTunes, TuneIn, Stitcher, Google Play Music, Spotify, Soundcloud, YouTube or wherever you get your podcasts. Price Watch: Bitcoin is down 11% this
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Emerging market currencies continue to lose ground against the USD, as investors flee the developing markets amidst contagion concerns stemming from the Turkey crisis, looming global debt of approximately $ 3.7 trillion, and fears of an intensified U.S. trade war. The latest victim, the Argentine peso, has recently hit a record low, prompting the country’s central bank […]
The financial situation in Venezuela looks anything but impressive. Financial hardship has become the new normal in this part of the world. It is still believed cryptocurrency will have a positive impact, although it may not be in the form of Bitcoin or even the Petro. Instead, it appears Nano is starting to make somewhat of an impact.
Venezuela and Nano Mix Well
According to a recent Reddit thread, the financial situation in Venezuela is only getting worse. It is evident financial hardship has become the new normal in this part of the world, and the local currency continues to bleed value every single day. Indeed, making ends meet is virtually impossible for anyone living in the country.
A security firm has found evidence that North Korea may be using mining software to obtain Monero and transfer it to a Pyongyang university.
Running a regime while sidestepping pesky sanctions is an expensive endeavor and one that North Korea seems to have plenty of experience in. However, according to a California-based cybersecurity firm, cryptocurrency could be a cost-effective solution.
Sneaky Monero Mining
ABC News recently reported that the firm, AlienVault, discovered a crypto mining software application, which appeared to be created last month, being unknowingly installed on victims’ computers. The mined crypto in question, Monero, was then transferred to Kim Il-sung University in Pyongyang.