Author: openjargon

  • Here’s how much it cost this Swiftie to chase his idol across 4 countries and 10 shows

    Daniel Jailani in his handmade Eras Tour outfits.
    Daniel Jailani in his handmade Eras Tour outfits.

    • Armed with a credit card and a dream, Daniel Jailani set off to see the Eras Tour as many times as possible.
    • Going to 10 shows across four countries cost him $4,280 in tickets, flights, hotels, and outfits. 
    • He says it was an experience of a lifetime, one he would gladly repeat.

    Daniel Jailani, a 24-year-old legal counsel from Singapore and a hardcore Taylor Swift fan, was laser-focused on catching as many of his idol's Eras Tour shows as possible.

    Even if it meant using up almost all his paid time off, he traveled to Australia, France, and the United Kingdom to catch 10 of Swift's three-and-a-half-hour-long concerts.

    Jailani said Swift is his favorite artist of all time. Growing up gay in a conservative Muslim family in Singapore, he said: "Her music transported me to a place where I was not stuck in my very difficult reality."

    He added that he lived vicariously through Swift's music in his formative years.

    "And at that point in time, her music was about high school and falling in love with boys, so that's how she allowed me to experience all that," he said.

    In five months, Jailani has taken six flights, tailored eight concert outfits himself, and spent $4,279.76 to see the shows.

    He said that the main motivation to see Swift across multiple nights was to catch her three surprise songs every night, which are not in her set list of 46 songs and are unique to each city.

    He's not done yet and plans to attend one last show in London in August.

    Here's what the whole experience cost him, according to receipts and invoices verified by Business Insider.

    $2,242.22 for concert tickets

    While some struggled with purchasing even a single ticket to see Swift, Jailani managed to snag 11 with the help of his friends, family, and strangers on TikTok.

    He attended one night in Melbourne, all six nights in Singapore, two in Lyon, and one in London, with one more — Swift's August show at Wembley Stadium — left.

    Jailani said securing the tickets was a team effort, with his family and friends helping him purchase additional tickets.

    For example, one of his friends traded her extra Melbourne Eras Tour ticket for his spare Singapore Coldplay "Music of the Spheres" ticket.

    $1,083.51 for flights

    The fan chased Swift around the world, flying to three different countries from Singapore to see his idol. He purchased six flight tickets, return journeys from Singapore to Melbourne, Paris and London.

    Daniel Jailani on the flight to the Eras Tour in Melbourne.
    Daniel Jailani on a flight, traveling to the Eras Tour in Melbourne.

    Jailani booked them all with deals on Singapore Airlines, the country's national carrier.

    He has yet to book his last return flight to London for Swift's August show.

    S$396.48 for hotels

    Here's where Jailani saved big. Opting to bunk in with his friends and family in Lyon and London rather than in hotels or Airbnbs helped him save.

    In Melbourne, however, he chose to stay in a serviced apartment just half a mile from the concert venue.

    $230 on Eras Tour merch

    He spent about $230 on official Eras Tour souvenirs, which included two t-shirts, one hoodie, and one crewneck sweater.

    $328.55 for outfits

    Jailani designed his own outfits for the concerts, inspired by eight of Swift's 11 albums, or eras.

    Daniel's outfit moodboard.
    Daniel's Midnights outfit mood board.

    From a rhinestone-studded black pantsuit inspired by the Midnights album to a sweeping green cape for the Folklore album, he pieced all his outfits together by hand.

    The materials used cost him $328.55, he said.

    Swifties are shelling out big time for the Eras Tour

    Jailani is not the only one willing to spend big bucks for the Eras Tour. A report by research company QuestionPro found that Swifties were spending $1,300 on average to attend the Eras Tour.

    An earlier Business Insider story featured eight Swifties who spent between $300 and $20,000 to see the concert.

    He also hasn't broken the record for most shows attended. According to Rolling Stone, a 27-year-old fan visited the Eras Tour 20 times across North America.

    The Eras Tour is the first-ever concert tour to gross over $1 billion, and the QuestionPro report found that it could result in $4.6 billion in consumer spending in the US.

    Swift is expected to boost the economies of countries in Europe in a similar way as her tour makes its way through the continent.

    Hotel prices in Milan, ahead of her show in July, spiked by 45% on the nights of her concerts, compared to the weeks before and after the show, Italian tourism company Tourist Italy told Business Insider.

    Portugal, Spain, and Sweden's hotel prices in May increased several times from their 2021 to 2023 average, according to a June report from BMI, an analytics subsidiary of Fitch Solutions.

    The one European country that didn't seem to have benefited from Swiftonomics, however, was France, where hotel prices dropped, per the BMI report.

    Swift still has 34 shows left in Europe and Canada, with the tour slated to end in December.

    Read the original article on Business Insider
  • Here are the top 10 ASX 200 shares today

    A neon sign says 'Top Ten'.

    It was another rough day for the S&P/ASX 200 Index (ASX: XJO) and many ASX shares this Tuesday. After yesterday’s slow start to the trading week, the markets carried on the bad mood today.

    By the time the closing bell rang, the ASX 200 had lost another 0.42%, leaving the index at 7,718.2 points.

    This miserable Tuesday for ASX shares follows a more upbeat night of trading over on Wall Street last night.

    The Dow Jones Industrial Average Index (DJX: DJI) had a shaky time, but still booked a 0.12% rise.

    The Nasdaq Composite Index (NASDAQ: .IXIC) did much better though, banking a 0.83% gain.

    But time now to return to the local markets and check out how the various ASX sectors handled today’s negativity.

    Winners and losers

    There were only a couple of winning sectors on the ASX boards this Tuesday. But first, the losers.

    Leading today’s red sectors were real estate investment trusts (REITs). The S&P/ASX 200 A-REIT Index (ASX: XPJ) had a shocker today, plunging 1.46%.

    Consumer discretionary shares had an awful day as well, illustrated by the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ)’s 0.92% tanking.

    Mining stocks weren’t too much better. The S&P/ASX 200 Materials Index (ASX: XMJ) cratered by 0.6%.

    Then we had financial shares, with the S&P/ASX 200 Financials Index (ASX: XFJ) shedding 0.44% of its value.

    Consumer staples stocks came next. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) saw its total reduce by 0.38%.

    Industrial shares also counted themselves on the wrong side of the aisle, as you can see from the S&P/ASX 200 Industrials Index (ASX: XNJ)’s loss of 0.35%.

    Healthcare stocks didn’t exactly live up to their name today either. The S&P/ASX 200 Healthcare Index (ASX: XHJ) ended up retreating by 0.33%.

    Communications shares had a day to forget too, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) copping a drop of 0.3%.

    Tech stocks were right on that tail. The S&P/ASX 200 Information Technology Index (ASX: XIJ) was walked back by another 0.36% this Tuesday.

    Lucky last for the losers were ASX utilities shares, evident from the S&P/ASX 200 Utilities Index (ASX: XUJ)’s 0.01% slip.

    Turning now to the winners, these were spearheaded by energy stocks. The S&P/ASX 200 Energy Index (ASX: XEJ) got all the love today, shooting up 2%.

    Gold shares were the other lucky corner of the market, with the All Ordinaries Gold Index (ASX: XGD) enjoying a lift of 0.28%.

    Top 10 ASX 200 shares countdown

    Today’s index winner was lithium stock Liontown Resources Ltd (ASX: LTR). After being placed in a trading halt for most of the day, Liontown shares rocketed 7.3% to close at 95.5 cents each.

    This surge higher comes after the company revealed it had secured a US$250 million investment for its Kathleen Valley Lithium Project.

    Here are the other winning shares from today’s trading:

    ASX-listed company Share price Price change
    Liontown Resources Ltd (ASX: LTR) $0.955 7.30%
    Whitehaven Coal Ltd (ASX: WHC) $8.59 5.66%
    Coronado Global Resources Inc (ASX: CRN) $1.34 3.88%
    Woodside Energy Group Ltd (ASX: WDS) $29.13 3.12%
    Inghams Group Ltd (ASX: ING) $3.73 2.75%
    Smartgroup Corporation Ltd (ASX: SIQ) $8.50 2.41%
    ARB Corporation Ltd (ASX: ARB) $37.84 2.16%
    Johns Lyng Group Ltd (ASX: JLG) $5.82 1.93%
    Perpetual Ltd (ASX: PPT) $21.76 1.73%
    Telix Pharmaceuticals Ltd (ASX: TLX) $18.35 1.44%

    Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

    The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Arb Corporation right now?

    Before you buy Arb Corporation shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Arb Corporation wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ARB Corporation, Johns Lyng Group, and Telix Pharmaceuticals. The Motley Fool Australia has positions in and has recommended Smartgroup. The Motley Fool Australia has recommended ARB Corporation, Johns Lyng Group, and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • The US will pay for migrants’ flights out of Panama to close a route used by over 700,000 people to reach the US-Mexico border

    Migrants arrive to Bajo Chiquito village, the first border control of the Darién Province in Panama, on September 22, 2023.
    Migrants arrive to Bajo Chiquito village, the first border control of the Darién Province in Panama, on September 22, 2023.

    • The US is trying to shut down the Darién Gap, a land route used by thousands to reach its borders.
    • It's paying for migrants' repatriation out of Panama in exchange for the latter closing the corridor.
    • Hundreds of thousands of migrants pass through Panama on their way to the US from South America.

    The US has agreed to fund repatriation for people who entered Panama illegally in exchange for the latter shutting down a main corridor for migrants traveling by land to the US-Mexico border.

    "This program will help the Panamanian government to remove foreign nationals who do not have a legal basis to remain in Panama," the Department of Homeland Security wrote in a statement on Monday.

    The funding will involve the US paying for flights out of Panama and "supporting training and capacity building to strengthen and institutionalize safe, humane repatriation processes," the statement said.

    The amount allocated to these flights, provided by the State Department, was not announced.

    Migrants arrive at the Reception Center for Migrant Care in Lajas Blancas, in the jungle province of Darien, Panama, on June 28, 2024.
    Migrants arrive at the Reception Center for Migrant Care in Lajas Blancas, in the jungle province of Darien, Panama, on June 28, 2024.

    The Associated Press reported that the new deal will see the US paying for charter and commercial flights to return migrants to their home countries.

    It cited two senior administration officials who were not named, who also said Panama would choose who is repatriated based on its laws.

    This agreement, signed by Homeland Security Secretary Alejandro Mayorkas, comes as Panama inaugurates its new president, José Raúl Mulino.

    It will see Panama closing off the Darién Gap, a treacherous stretch of rainforest that at least 520,000 migrants walked through in 2023 on their way north. Another 174,000 people were recorded using the route this year.

    Migrants walk by the jungle near Bajo Chiquito village, the first border control of the Darien Province in Panama, on September 22, 2023.
    Migrants walk by the jungle near Bajo Chiquito village, the first border control of the Darien Province in Panama, on September 22, 2023.

    The corridor, regularly plied by cartels and paramilitary forces, starts in Colombia and ends in Panama. It typically takes about 5 days or more of arduous trekking to finish the 66-mile journey.

    Several popular exit points from the Darién Gap are staffed by humanitarian agencies such as Doctors Without Borders and UNICEF, who provide medical aid and essentials to the migrants but are increasingly overwhelmed by a growing influx of trekkers.

    Migrants line up to receive food at the Reception Center for Migrant Care in Lajas Blancas, in the jungle province of Darién, Panama, on June 27, 2024.
    Migrants line up to receive food at the Reception Center for Migrant Care in Lajas Blancas, in the jungle province of Darién, Panama, on June 27, 2024.

    The Panamanian government has typically not repatriated migrants who enter the country via the Darién Gap, but it's been managing some infrastructure to house them as they pass through.

    Once in Panama, many migrants continue their journey through Central America, crossing at least five transnational borders to reach Mexico and eventually making their way to the US southern border.

    US border patrol encounters with migrants in the southwest hit record highs in December, with over 301,000 incidents logged. Nearly 2.5 million migrant encounters were reported in the 2023 fiscal year, and this year's numbers are on track to hit a similar level.

    Authorities already struggle to manage the Darién Gap

    Yet closing the Darién Gap is no small feat. In April 2023, the US and Panama launched a 60-day campaign to curb illegal migration from the corridor.

    In June of that year, Panama assigned 1,200 immigration agents, border police, and naval air service members to target criminal groups that guide and exploit migrants traveling through the Darién Gap.

    Hundreds of thousands still used the crossing afterward.

    Migrants walk by the jungle near Bajo Chiquito village, the first border control of the Darién Province in Panama, on September 22, 2023.
    Migrants walk by the jungle near Bajo Chiquito village, the first border control of the Darién Province in Panama, on September 22, 2023.

    Mulino, Panama's new president, has vowed to solve immigration issues in the country. He announced on his first day in office that the country would no longer be "a path open to thousands of people who enter our country illegally."

    Illegal immigration has increasingly come under the spotlight in US politics, particularly for Republican leaders who have accused the Biden administration of allowing border security to grow lax.

    On June 4, President Joe Biden signed a proclamation that temporarily restricts entry for non-US citizens who enter through the southwest border illegally. His campaign highlighted that border officials' seven-day encounter average dropped 40%.

    But managing the immigration crisis is proving to be a delicate political and economic balancing act. Biden previously came under fire from progressives for referring to a Venezuelan migrant charged with murder as "an illegal."

    Several analysts also say immigrants have helped relieve a labor shortage in the US and that overly aggressive deportation programs, such as the one suggested by presidential candidate Donald Trump, would risk stagnating the economy.

    Read the original article on Business Insider
  • The Biden campaign is celebrating the wins they can get and touting the $33 million in donations they managed to rake in post-debate

    President Joe Biden's campaign said it had raised more than $33 million after his debate with former President Donald Trump on Thursday.
    President Joe Biden's campaign said it had raised more than $33 million after his debate with former President Donald Trump on Thursday.

    • The Biden campaign said it raised $33 million after the first presidential debate of the year. 
    • The campaign said that half of the funds raised came from first time donors. 
    • The spike in donations provides some relief for Biden who is facing growing calls to step aside. 

    Supporters of President Joe Biden may have been unnerved by his bad performance at Thursday's presidential debate, but that didn't seem to hinder his campaign's fundraising efforts.

    "$33 million raised since the debate, $26 million from grassroots donors," Biden deputy campaign manager Rob Flaherty said in an X post on Sunday.

    "Half! Of the donations made in this period are from first time donors. The Democrats grassroots is getting on board," he continued.

    The spike in donations would certainly be a source of relief for the Biden camp. For comparison, former President Donald Trump's campaign said it raised $8 million the day after the debate.

    "Thursday was our best grassroots fundraising day ever, while Friday was the second best," a Biden campaign official told CNN.

    Representatives for Biden did not immediately respond to a request for comment from BI sent outside regular business hours.

    Biden saw a similar bump in donations after his first presidential debate with Trump in the 2020 election. His campaign said at the time that it had broken its fundraising records when it raised nearly $10 million from 215,000 donors on the day of the debate.

    But while the surge in donations will provide Biden with a welcome boost, it certainly isn't the home run the campaign needs right now.

    Calls for Biden to be replaced as the presumptive Democratic nominee have grown after his underwhelming performance at last week's debate.

    And when it comes to fundraising, Biden's campaign could also be losing its momentum against his GOP rival.

    Trump's campaign said it raised $141 million in May, higher than Biden's $85 million in the same month. And in April, Trump raised $76 million to Biden's $51 million.

    On Saturday, Biden donor and investor Whitney Tilson said he's reconsidering his support for Biden after Thursday's debate.

    "If the man I saw at the debate is the real Joe Biden right now, then it would be a waste of my time and money to support him because he has almost no chance of beating Trump," Tilson said in an X post.

    Read the original article on Business Insider
  • Liontown share price roars 17% higher on funding update and ‘tremendous endorsement’

    Lion holding and screaming into a yellow loudspeaker on a blue background, symbolising an announcement from Liontown.

    The Liontown Resources Ltd (ASX: LTR) share price has returned from its trading halt with a bang.

    In afternoon trade, the lithium developer’s shares were up as much as 17% to $1.04.

    They have pulled back since then but remain up 10% to 98 cents at the time of writing.

    What’s going on with the Liontown share price?

    This morning, Liontown requested a trading halt until Thursday while it prepared an announcement relating to the funding of the Kathleen Valley Lithium Project in Western Australia.

    It turns out the company didn’t need the two days to make the announcement and has returned early this afternoon following its release.

    According to the announcement, Liontown Resources has secured a US$250 million investment and 10-year offtake extension from foundational partner, LG Energy Solution.

    Investment secured

    These funds will be raised through the issue of five-year convertible notes at a coupon equal to a reference rate of the secured overnight financing rate (SOFR) to maturity. They can be converted or redeemed earlier at a conversion price of $1.80 per share. If converted today, the convertible notes would convert into an approximate 8% shareholding in Liontown.

    The company’s total cash balance increases to approximately A$501 million following this investment, which provides balance sheet strength to fund the Kathleen Valley ramp-up to 3Mtpa steady state production.

    It will also allow the company to progress early enabling works in the underground mine to preserve the 4Mtpa expansion option on a 2027 timeframe and to support 3Mtpa production. Liontown continues optimisation studies for both the mine and the processing plant as part of its review of the 4Mtpa expansion case.

    In respect to the offtake, the extension means it is now a lengthy 15-year agreement. It will start with LG Energy Solution taking 100ktpa in the first year and then increases to an average of approximately 150ktpa thereafter.

    ‘A tremendous endorsement’

    Liontown Resources’ managing director and CEO, Tony Ottaviano, was very pleased with the investment. He believes it demonstrates the quality of the project. Ottaviano said:

    I am very pleased to announce that we have taken a major step forward in our strategic partnership with foundational customer LG Energy Solution, one of the world’s leading battery producers. LG Energy Solution’s long-term investment in Liontown is a testament to the world-class quality of the Kathleen Valley Project and a tremendous endorsement of the capability of our team. The funding will be instrumental in supporting the production ramp up to 3Mtpa and early works necessary to preserve the potential 4Mtpa expansion case for Kathleen Valley.

    Lithium refinery

    Also giving the Liontown share price a boost today could be news that the two parties are looking into the viability of developing a lithium refinery. This would allow the company to process Kathleen Valley spodumene into battery-grade lithium chemicals. Ottaviano commented:

    I am pleased to announce that the strategic partnership with LG Energy Solution will also include entering into a new downstream collaboration agreement to investigate the establishment of an IRA-compliant lithium refinery to process Kathleen Valley spodumene into battery-grade lithium chemicals.

    These developments pave the way for Liontown to pursue our long-term strategy to be a globally significant provider of battery minerals as the world transitions to a low-carbon future. We believe this partnership and investment will deliver substantial value to our stakeholders and position us at the forefront of the lithium industry.

    The Liontown share price remains down 66% over the past 12 months.

    The post Liontown share price roars 17% higher on funding update and ‘tremendous endorsement’ appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Liontown Resources right now?

    Before you buy Liontown Resources shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Liontown Resources wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • BrainChip shares struggle in FY24 – what’s ahead for FY25?

    A man is shocked about the explosion happening out of his brain.

    BrainChip Holdings Ltd (ASX: BRN) shares were one of the weakest performers on the ASX in FY 2024. In the past 12 months, the ASX AI stock plunged nearly 39% in the red.

    The company’s shares are swapping hands at 22 cents apiece at the time of writing, having peaked at a closing high of 49 cents per share on 26 February.

    Now that we’ve entered the new financial year, investors are left wondering what lies ahead for BrainChip in FY 2025. Let’s take a closer look.

    Why have BrainChip shares fallen so drastically?

    BrainChip shares had a turbulent time last financial year – and that’s putting it lightly.

    Stock in the AI company went from trading at yearly lows of 14 cents per share in October last year, before hitting the 52-week highs in February, outlined earlier. This surge was short-lived, and the stock now languishes near prior lows.

    Several factors contributed to this rollercoaster ride, in my view.

    For one, the significant rise in February was likely influenced by the soaring stock of US-listed AI giant NVIDIA Corp (NASDAQ: NVDA).

    Investors went on an AI-stock feeding frenzy after NVIDIA’s Q1 2024 results. This prompted speculative trading in ASX tech companies, including BrainChip shares.

    However, BrainChip’s financial performance didn’t justify such a surge. The company reported a net loss of US$28.9 million for 2023.

    Perhaps this wouldn’t have been an issue if the company hadn’t reported a loss of US$22.1 million the year prior. And the fact sales declined 95% over the period.

    Stocks are priced on fundamentals. This financial result from BrainChip saw the stock plummet in the days and weeks following.

    Which is interesting, given the company’s specialty in neuromorphic computing – a highly differentiated AI segment. The company released the second generation of this technology, Akida, in FY 2024. Neuromorphic computing replicates the human brain’s processing power in data analysis.

    Investors were obviously expecting more from the company in this highly differentiated domain. Especially as management didn’t obtain royalty agreements for any sales related to the IP of the technology.

    Were investors expecting too much? BrainChip shares have sunk 16 cents apiece since then, so it’s difficult to tell.

    What’s next for BrainChip?

    Analysts remain cautious about BrainChip. Niv Dagan from Peak Asset Management recently recommended selling BrainChip shares, citing disappointing financials and high cash outflows, according to The Bull.

    Dagan noted the company’s cash reserves had decreased from US$14.3 million in the prior quarter to US$13 million, whilst operating cash outflows were on the rise:

    This artificial intelligence company ended the recent March quarter with $US13 million in cash compared to $US14.3 million in the prior quarter. Net operating cash outflows in the March quarter were higher than the prior quarter. Cash inflows from customers were lower in the March quarter compared to the prior quarter. The shares have fallen from 49 cents on February 26 to trade at 21 cents on June 20. We prefer other stocks at this stage of the cycle.

    Despite reporting significant interest from potential customers, the company has yet to translate this into substantial sales.

    At its recent AGM, CEO Sean Hehir expressed optimism about ongoing licensing discussions and potential sales in the audio and microcontroller segments. Time will tell.

    Foolish takeaway

    BrainChip shares have had a rough year, and the road ahead remains uncertain. While the company’s innovative technology holds promise, it needs to deliver on its revenue potential to regain investor trust.

    Investors might want to weigh the potential rewards against the risks. Some experts currently advise looking at other opportunities.

    The post BrainChip shares struggle in FY24 – what’s ahead for FY25? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Brainchip Holdings Limited right now?

    Before you buy Brainchip Holdings Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Brainchip Holdings Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Chinese EV makers had a great quarter, and it should put Tesla on edge

    BYD Denxa
    Three Chinese electric vehicle makers hit record numbers at the end of June, which could spell trouble for Tesla.

    • Chinese electric vehicle makers hit record sales in June, challenging Tesla's dominance.
    • BYD, Nio, and Zeekr saw significant year-over-year growth despite US and EU tariff concerns.
    • Tesla faces pressure with declining sales but may rebound with China growth and Robotaxi unveiling.

    Three Chinese electric vehicle makers hit record sales numbers at the end of June, which could spell trouble for Tesla.

    China's biggest EV manufacturer, BYD, sold nearly 1 million electric and hybrid cars in the second quarter of the year, Bloomberg calculated. During the same period, Nio said it delivered over 57,000 vehicles — a 144% year-over-year rise.

    Geely Automotive-owned Zeekr, which listed in the US in May, had a record June with over 20,000 deliveries — an 89% year-on-year increase.

    Despite concerns about tariffs from the US and European Union, sales for the three producers were boosted by price cuts, the introduction of cheaper models, and Chinese EV demand from Russia, where Western competitors exited.

    These numbers may make Tesla, and its once-dismissive-of-Chinese-companies CEO, nervous. The American EV giant announces its second-quarter deliveries on Tuesday. First-quarter numbers showed Tesla was hit by waning EV demand.

    Analysts expect a 6% decline in Tesla's total deliveries from April through June, Reuters reported ahead of the official numbers.

    Tesla has made big moves to lure back customers and reassure investors this year.

    At the end of the first quarter, CEO Elon Musk entered the EV price war by slashing prices on select Tesla models. In the company's first-quarter earnings call, Tesla also announced a much-awaited cheaper EV. In late May, Tesla even offered Chinese customers a chance to tour its Fremont, California factory if they bought a car this summer.

    "The fundamentals for Tesla are in a tricky position right now, and we generally expect negative revisions," Barclays analyst Dan Levy told CNBC last month. One of the company's biggest challenges is flat volume growth, he said.

    Levy predicted an 11% drop in June-quarter deliveries, below analyst estimates.

    The bullish case for Tesla

    Despite Chinese EV companies' strength, one analyst is confident that Tesla is set for a rebound amid growth in China and the Robotaxi's unveiling, planned for August.

    "We have seen some signs of stabilization in pricing for Tesla over the past few months as it appears the lion's share of the price cuts are now in the rear-view mirror," Wedbush analyst Dan Ives wrote in a note on Friday.

    Ives, a Tesla bull, said that demand in key region China is showing signs of improving as customers realize that no more price cuts are coming.

    Moreover, analysts have long said some American EV companies' real value isn't the cars themselves, but rather technology that could be sold to other customers.

    "We continue to believe that Tesla is more of an AI and robotics play than a traditional car company," Ives wrote on Friday.

    The same is true for American competitor Rivian, which recently announced a $5 billion investment from Volkswagen .

    Software is one of Rivian's strengths, Goldman Sachs analysts noted in January — "a key part of the value proposition and monetization opportunity for Rivian."

    Read the original article on Business Insider
  • An Air Europa flight was forced to make an emergency landing after passengers suffered neck and skull fractures during severe turbulence

    A Boeing 787-9 Dreamliner, operated by Air Europa, is taking off from Barcelona Airport in Barcelona, Spain, on February 23, 2024.
    A Boeing 787-9 Dreamliner, operated by Air Europa.

    • An Air Europa flight from Spain to Uruguay was diverted to Brazil after encountering severe turbulence.
    • The New York Times reported that 36 passengers were injured, some with neck and skull fractures.
    • This is the latest in a string of turbulence-linked plane emergencies of late.

    An Air Europa flight from Spain to Uruguay was forced to divert to Brazil after severe turbulence hit the flight, injuring more than 30.

    The Boeing 787-9 Dreamliner traveling from Madrid to Montevideo on Monday made an emergency landing at 2:32 a.m. local time at Natal Airport in northeastern Brazil, per FlightRadar24.

    The airline posted on X on Monday: "Our flight UX045 bound for Montevideo has been diverted to Natal airport (Brazil) due to strong turbulence."

    https://platform.twitter.com/widgets.js

    It added: "The plane has landed normally, and the minor injuries that were reported are already being treated."

    The New York Times reported that at least 36 passengers were treated for injuries, and 23 were taken to hospitals, citing the Brazilian public health authorities. Some passengers had neck and skull fractures, per The Times.

    Local news outlet G1, citing medical personnel on the ground, reported that several passengers hit their heads during the turbulence and suffered fractures, facial injuries, and chest pains.

    Speaking to Spanish-language media outlet Telemundo, passenger Evangelina Saravia from Uruguay described the scene inside the aircraft.

    "A person was left hanging between the plastic ceiling and the metal roof behind it, and they had to be brought down," she said to Telemundo. "The same thing happened to a baby."

    Another passenger, Romina Apai, told Telemundo she was sleeping when the incident occurred. She heard screaming, then "there was the smell of blood" in the cabin, she said.

    The airline said in later updates on X that passengers stuck in Natal were being moved to the nearby city of Recife, where the airline could provide "better service" to them.

    Air Europa added that they would be picked up by another plane from Madrid, which would bring them onward to Uruguay.

    The turbulence-hit plane had a capacity of up to 339 passengers, per Air Europa's website. G1 reported that 325 passengers were on board Monday's flight.

    The incident is the latest in a string of turbulence-related plane emergencies that have emerged recently.

    The most severe one occurred in May when a Singapore Airlines Boeing 777-300ER airplane encountered turbulence so severe that the plane dropped 178 feet in four seconds.

    The flight from London to Singapore was cruising at an altitude of 37,000 feet over Myanmar when it was thrust up and down rapidly for 62 seconds, leading to one death and over 100 injuries.

    Separately, on June 16, an Air New Zealand A320 flight ran into severe turbulence, which caused a crew member to hit the cabin ceiling and a passenger to be scalded by hot coffee.

    Representatives for Air Europa didn't immediately respond to requests for comment from Business Insider sent outside regular business hours.

    Read the original article on Business Insider
  • These ASX shares could rise 15% to 35%

    A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today

    Who doesn’t love big returns? And while nothing is guaranteed in the share market, analysts believe the three ASX shares listed below could deliver the goods for investors.

    Over the next 12 months, they are tipping them to rise 15% and 35%. Here’s what you need to know about them:

    Objective Corporation Ltd (ASX: OCL)

    Analysts at Morgans think Objective Corporation could be a great option for investors. It is a best-in-class specialist software company which services the public sector and highly regulated industries.

    The broker has an add rating and $14.00 price target on the ASX share. This suggests that upside of 18% is possible from current levels.

    Morgans highlights that the company is well-placed to grow strongly thanks to favourable industry trends. It said:

    Global Public Sector software spend is anticipated to grow at a low double-digit rates over the near term as governments look to streamline workflow, improve security, and modernise legacy IT infrastructure. We see Objective as being a beneficiary of this trend.

    Premier Investments Limited (ASX: PMV)

    Bell Potter thinks this retail giant could be an ASX share to buy. The broker currently has a buy rating and $35.00 price target on its shares, which implies potential upside of approximately 17% for investors over the next 12 months.

    The broker believes its shares are undervalued at current levels. Particularly given the potential value that will be unlocked from its demerger plans. It said:

    PMV is currently trading on ~15x FY26e P/E (BPe) which we think is conservative given the value that we see emerging from the potential demerger of PMV’s two key brands, Smiggle and Peter Alexander which we believe are global roll-out worthy and highly profitable. We see further upside from the higher ownership PMV shareholders could receive in the Myer Group (MYR) given the potential to grow post MYR’s turnaround phase and synergies from merging with PMV’s apparel brands.

    Xero Ltd (ASX: XRO)

    Over at Goldman Sachs, its analysts think that this cloud accounting platform provider’s shares could rise strongly from current levels.

    Earlier today, the broker reiterated its conviction buy rating and lifted its price target to $180.00. This suggests that upside of 35% is possible over the next 12 months.

    It has become even more bullish after looking deeper into its UK opportunity. Goldman also highlights Xero’s huge global total addressable market (TAM) to grow into. It said:

    Following our June UK trip, attending Xerocon and meeting with accountants/competitors/experts, we are encouraged with the positive feedback (vs. our 2022 trip), in particular around its refreshed strategy and increased focus. […] We see Xero as very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$100bn TAM.

    The post These ASX shares could rise 15% to 35% appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Objective Corporation Limited right now?

    Before you buy Objective Corporation Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Objective Corporation Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Objective and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Objective and Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Nvidia’s stock is up 160% in 2024, but is it a bubble waiting to pop?

    a woman with bright artificially coloured hair blows a large bubble gum bubble from her mouth with her eyes wide open and holding her hands either side of it.

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    If you’ve been keeping up with the tech industry, you’ve witnessed artificial intelligence (AI) go from a niche topic to the hottest theme in business. It’s almost inescapable at this point. Many businesses have benefited from the AI boom, but maybe none more so than Nvidia (NASDAQ: NVDA).

    The chipmaker’s stock is up by more than 160% this year alone, continuing a rally that has seen its stock price increase by more than 760% in the past year and a half. It even briefly took the title of the “world’s most valuable public company,” passing tech titans Microsoft and Apple.

    Nvidia’s run has been remarkable, there’s no doubt. However, with so many investors rushing to buy the stock, others are wondering whether the hype has pushed it into bubble territory.

    How did Nvidia get to this point?

    Nvidia is known for its graphic processing units (GPUs) — blazing-fast parallel processors that are among the best hardware available for providing the computational power necessary to train and deploy AI models. According to some estimates, the company recently held as large as a 95% share of the AI chip market, so to say it’s important to the AI pipeline would be an understatement.

    There’s also the data center aspect. Data centers are the foundation of AI infrastructure, providing the computational power needed to process and analyze massive amounts of data. Without that ability, there’s no AI as we know it.

    Most of the companies that run these data centers have built them using massive volumes of Nvidia’s GPUs — among them, major cloud platform providers Amazon, Microsoft, and Alphabet. Their unprecedented demand for Nvidia’s AI-related hardware has put the company on a whole new trajectory.

    Its earnings from the first quarter were beyond impressive

    Nvidia’s financials have soared due to the unprecedented demand. In its fiscal 2025 first quarter, which ended April 30, the company reported year-over-year gains that most large companies can only dream about.

    Its revenue increased 262% to $26 billion, led by a 427% increase in data center revenue of $22.6 billion (both company records). Arguably more impressive, though, was the 690% jump in operating income to $16.9 billion. And its gross margin went from 64.6% to 78.4% — not too shabby.

    NVDA Operating Income (Quarterly) Chart

    NVDA Operating Income (Quarterly) data by YCharts.

    Nvidia is surely benefiting from increased demand for its chips, but an underrated upside of being the undisputed leader in the space is the pricing power that comes with it. With demand continuing to outstrip supply, Nvidia should be able to charge premium prices and maintain its impressive margins.

    To say the stock is expensive would be an understatement

    Nvidia’s financials have been impressive, but the stock is one of the most expensive on the market. The surge in earnings has brought its valuation down to a more reasonable level than the roughly 240 price-to-earnings ratio it had last year, but it’s still high. Just look at how it compares to tech giants Microsoft and Apple.

    NVDA PE Ratio Chart

    NVDA PE Ratio data by YCharts.

    A high valuation can be justified when the company’s growth prospects match it, but at some point, even the most promising companies can reach valuations that go beyond what’s fundamentally reasonable.

    In Nvidia’s case, many investors are rushing to buy the stock because of a fear of missing out. This happens with virtually every promising new technology. The problem is that much of the run-up is built on speculation, and with that comes an increased risk of a sharp correction if investors’ expectations aren’t met.

    Is Nvidia a great company? Absolutely. But is it fair to say its stock is flirting with bubble territory? I would certainly say yes.

    Slow and steady often wins the race

    Nobody can reliably predict what the stock market will do in the near term, nor know if Nvidia or the AI sector as a whole are in bubbles destined to pop. You can look to history as an indicator, but nobody can say for certain. That’s why I believe the best approach to Nvidia’s stock now is to dollar-cost average your way into a stake.

    When you dollar-cost average, you decide on a specific amount you can commit to investing and then set a regular schedule to make those investments. For example, you might commit to investing $400 monthly into Nvidia. From there, it’s up to you to decide if you want to divide the investments into four $100 weekly investments, two $200 bi-weekly investments, or whatever works best for you. Sticking to your schedule is more important than whatever frequency you choose.

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    The post Nvidia’s stock is up 160% in 2024, but is it a bubble waiting to pop? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Nvidia right now?

    Before you buy Nvidia shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Nvidia wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks *Returns as of 24 June 2024

    More reading

    Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Stefon Walters has positions in Apple and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Microsoft, and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, Microsoft, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.