Legacy Tech Names Like IBM, Intel See Interest as Rally Broadens 12/15/23
Dec 16, 2023
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Discussion on the tech sector's performance and potential momentum in the new year. Legacy tech companies pursuing AI and cloud technologies. Top stocks of the week and analysis of Warner Brothers' film Wonka. Launch of AI News Network and the role of AI in journalism.
Large swaths of tech stocks are soaring, suggesting a favorable position for portfolios.
The improvements in the global supply chain have led to decreased manufacturing and logistics costs, resulting in lower retail prices for consumer goods.
Deep dives
Channel 1 to Launch AI News Network with Personalized Feeds
Channel 1 is set to launch a news network powered by AI-generated scripting, imagery, and talent. The network aims to provide personalized feeds for users, allowing them to see the news they are interested in. The stories will be sourced from trusted news publications, ensuring credibility and trustworthiness. Channel 1 plans to focus on balancing customization with a balanced news diet to avoid creating narrow worldviews for users.
Care Bear's Journey Reflects Improved Global Supply Chain
The journey of a Care Bear from its manufacturing plant in China to a toy store in the US reflects the improvements in the global supply chain. Manufacturing costs have decreased, thanks to lower pricing at Chinese factories and increased competition. Logistics costs have also decreased, with container volumes and shipping container costs down. The normalization of the supply chain has resulted in shorter shipping times and lower transportation costs for the Care Bear. Retail prices have also decreased due to deflation and consumer desire for lower-priced toys.
Chevron Partners with Various Allies to Develop Renewable Fuels
Chevron has partnered with transportation, agriculture, and other allies to develop and scale lower carbon intensity fuels. The company is focused on producing renewable fuels for today's fleets and plans to grow its renewable fuels production capacity to 100,000 barrels per day by 2030. Chevron aims to make progress in producing sustainable fuels to contribute to a more environmentally friendly future.
City Group's Municipal Bonds Business Shut Down
City Group's CEO, Jane Fraser, has made the decision to shut down the company's once profitable municipal bonds business as part of a broader reorganization effort. The move comes as City Group seeks to reevaluate its various businesses and determine which ones should be retained or exited. The decision may lead to speculation about potential layoffs as the company undergoes further changes.