Wall Street Breakfast TikTok appeals for breakup lifeline
Dec 9, 2024
TikTok is fighting against a potential forced sale, seeking to block the move until a Supreme Court review. Meanwhile, Nvidia is under investigation for monopolistic practices in China. Activists are calling for significant changes at Macy's to enhance shareholder value, while stock analysts weigh in on holiday strategies and real estate trends. With AI concerns impacting AMD, discussions around risk-adjusted returns and investment strategies are heating up.
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TikTok's Legal Battle
- TikTok and ByteDance are seeking an appeals court block on a forced sale order.
- A federal court upheld the ban, but the companies argue it would shut down the app for 170 million U.S. users.
NVIDIA's China Probe
- China's antitrust agency launched a probe into NVIDIA over potential monopoly law breaches.
- NVIDIA adjusted its AI accelerators for the Chinese market to comply with U.S. export controls.
AMD Downgrade
- Bank of America downgraded AMD due to lower estimates for AI and PC-related revenue in 2025.
- Increased competition, especially from NVIDIA, and cloud preference for custom chips are cited as reasons.