Tech Brew Ride Home Fri. 08/02 – Intel Is Bailing Water
24 snips
Aug 2, 2024 The latest tech earnings reveal mixed results, with Apple standing strong while Amazon stumbles. Intel faces significant layoffs amid revenue struggles. Innovations shine through as Black Forest Labs introduces an AI image generator, and RayVLight democratizes chip hacking with an open-source tool. Finally, AI technology is set to revolutionize gymnastics scoring, blending advanced tech with human judgment for fairer outcomes.
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Tech Earnings Overview
- Apple had a good quarter, with iPad sales up 24% and services revenue hitting a record high.
- Amazon's Q3 revenue forecast disappointed investors, despite increased profitability and cost-cutting efforts.
Intel's Downfall
- Intel's stock plummeted 30% after reporting disappointing Q2 results and announcing significant workforce cuts.
- The company's struggles are attributed to missing opportunities in mobile, ARM, and potentially the AI boom.
23andMe Take-Private Offer Rejected
- 23andMe's board rejected CEO Anne Wojcicki's take-private offer, citing its low price and lack of financing.
- The company's stock has struggled, and they're now exploring alternative business plans.