The new Apple iPhone 16 could have a slightly improved battery, some credible rumors say.
Apple says there will be fancy new AI features, but what about what we REALLY care about?
My kingdom for a longer battery life!
We are still about two months away from the iPhone 16's September release, but rumors are already starting to trickle out about certain aspects of the phone's build.
Yes, the iPhone 16 lineup will have all those fancy and fun new AI ("Apple Intelligence") features that Apple is excited about. But what about the stuff that really matters? Folks, I'm worried.
As my colleague Jordan Hart reported earlier this week about what to expect for the iPhone 16, there's something new potentially going on with the battery. Ming-Chi Kuo, an analyst based in Taiwan who looks at Apple's supply chain, has surmised there will be a new type of steel-cased battery that will be removable to comply with European standards.
The good news is this could mean longer battery life (or the same battery life, but with a lighter battery). But a steel-cased battery instead of the current aluminum one might also mean it's more prone to getting hot — something my older phones did a lot. My iPhone 14 Pro Max is fine (for now), but with some of my older phones, I'd find myself cooling down my fingertips on the sweat of a cold drink if I was using my phone for a long time.
What to expect from the new iPhones
Before you get too excited about the potential for longer battery life — the thing we all want — it's not totally clear just how much longer we're talking. According to one report on the rumors about the new phones, the difference in how much charge the battery can store is expected to vary only slightly compared to the iPhone 15 lineup — and in the case of the 16 Plus, it may actually go down.
Look, most likely, the battery life will be slightly improved compared to an iPhone15. How much, we don't know yet.
But if you're considering buying an iPhone 16, chances are your current phone is way older, right? In the last few years, it's made more sense to hold onto a phone for more years instead of upgrading every cycle or even every two cycles (if you do upgrade every year, congrats to you and your checking account). The changes in phones have been incremental — a slightly better camera, maybe a brighter screen.
The "Low Battery" message is exactly what you don't want to see on your iPhone. It's time to improve!
NurPhoto/Getty Images
The one thing we all want, that we all crave, is much better battery life, not just a small boost. The new AI features might be cool — even more optical zoom would be — but what I really REALLY want is for my phone to last all day without needing to charge by 9 p.m.
I recently got a Series 9 Apple Watch after losing my previous Series 8. And the upgrade in battery life in the Series 9 is — I do not exaggerate — life-changing. I've had several Apple Watches and for the first time, I don't ever have to worry about it running out of charge by the end of the day.
My current phone can't make it through a busy workday without a midday charge — and if I forget to do it on a day I commute into the office I'm really in trouble for my (long) commute home at night. I've caught myself thinking, "I should get a new portable charger." Shudder.
Claim our independence from the iPhone charger
Imagine all the brain space you could claim back if you didn't have to ever worry about your phone battery. If you could just charge it overnight, wake up, use it all day long — even running Maps for a car trip as well as watching half of a four-hour YouTube video about the Disney Star Wars Hotel without your battery level sinking to 5%.
You and I could win Nobel Prizes and learn the viola with all our regained brainpower!
On this Fourth of July, I'd like you to imagine a beautiful land of freedom, the promise of independence from the charging cord. The American Experiment is about ideals and dreams — and we can dream of a world with really, really long battery life.
Iran has commissioned ships with more armament and endurance for its Islamic Revolutionary Guard Corps, like the Shahid Hassan Bagheri, seen here at a maritime parade in April.
Morteza Nikoubazl/Getty Images
Iran's Islamic Revolutionary Guard Corps is building a fleet capable of operations on the high seas.
Its new missile corvettes are the most heavily armed combatant ships in its fleet.
It also converted a container carrier into a mothership for drones and special forces.
In the last three years, Iran's Islamic Revolutionary Guard Corps Navy has commissioned hundreds of new vessels. Most are newer variants of the missile, rocket, and heavy machine-gun-clad speedboats that have long formed the backbone of the IRGCN's fleet, but beginning in 2022, the IRGCN began commissioning new classes of warships capable of operating on the high seas.
The vessels, four newly designed missile-armed catamaran corvettes and a container ship converted into an expeditionary sea base, bring new capabilities to the hardline force known for carrying out dangerous missions like attaching mines to ship hulls and hijacking merchant ships, giving Iran options to keep adversaries with advanced navies and air forces like Saudi Arabia and the US off-balance.
The largest ships ever to be commissioned into its service, the vessels enable the IRGCN to operate major surface combatants with long-range anti-ship and anti-air weapons, and also helps the historically littoral force to pursue a new mission only recently given to it: to project power into the high seas via expeditionary operations.
With a fourth catamaran missile corvette on the way and another container ship being converted into a drone carrier, the IRGCN's future fleet is gaining the larger ships and firepower needed to confront its adversaries beyond the Persian Gulf.
The Shahid Hassan Bagheri is one of three new Soleimani-class missile corvettes that are the most heavily armed warships in the Islamic Revolutionary Guard Corps Navy's fleet.
Morteza Nikoubazl/Getty Images
Catamaran missile corvettes
Founded in 1985, the IRGCN is the naval branch of the Islamic Revolutionary Guard Corps, a paramilitary organization that operates as the ideological steward of Iran's revolution separate from the national military and which answers directly to Tehran's supreme leader, Ayatollah Ali Khamenei.
Numbering around 25,000 personnel, in 2007, the IRGCN was tasked with the security of the Persian Gulf, while Iran's national navy was given responsibility for the waters of the inland Caspian Sea, the Gulf of Oman, and beyond. Responsibility for the Strait of Hormuz, the narrow mouth that dog-legs into the Persian Gulf, is shared between the two forces.
Since its inception, the IRGCN has employed an asymmetric doctrine that utilizes swarm and guerilla tactics with an emphasis on numbers, speed, mobility, and geographical advantages. They are known for provocative tactics that harass and threaten US Navy warships and civilian merchant vessels.
Operating in conjunction with Iran's land-based missiles and aircraft, the IRGCN can mount rapid sea assaults that exploit the islands and contours of Iran's coast. They rely extensively on hundreds of smaller vessels, namely fast attack craft (FAC) and fast inshore attack craft (FAIC) like those of the Tondar and Peykaap-classes which are armed with heavy machine guns, rockets, anti-ship missiles, and torpedoes to swarm enemy warships that may also be under attack from loitering munitions.
On September 5, 2022, the IRGCN diverged from its usual procurement practices when it commissioned the Shahid Soleimani, the lead ship of a new class of corvettes named after the leader of the IRGC's elite Quds Force who was killed in a US drone strike in 2020. At 213 feet long, 47 feet wide, and displacing an estimated 600 tons, it is one of the largest surface combatants the IRGCN has ever adopted.
The class utilizes a unique twin-hulled catamaran design. The design offers increased speed and stability at the expense of volume to carry more fuel or armaments. Though rare for frontline warships, some major navies do possess catamaran corvettes, including China, Russia, Taiwan, and Norway.
The IRGCN itself has been operating a single catamaran called the Shahid Nazeri since 2016. Despite being lightly armed, it has a record of harassing US vessels and civilian ships in the Persian Gulf.
But while Shahid Nazeri has few armaments, the Soleimani-class corvettes are the most heavily armed vessels in the IRGCN fleet, with an armament of 28 missiles, four 23mm Gatling guns (two in front of the bridge and two amidships), and one 30mm auto-cannon at the bow. Their formidable missile armaments are designed to threaten ships and aircraft.
Twenty-two of the missiles are stored in vertical launch systems (VLS), making the Soleimanis the first vessels in Iranian service with vertical launch capability. Believed to all house surface-to-air missiles (SAMs), they are arranged in two groups of eleven cells (eight small and three large) on the port and starboard sides just behind the bridge.
The six large cells are believed to house medium-range SAMs with a range of 92 miles each, while the sixteen small cells are believed to house short-range SAMs. Six box launchers amidships (three on each side) house anti-ship cruise missiles (ASCMs); likely four long-range ASCMs like the Ghadir or Noor, with ranges of 184 and 74 miles, respectively, and two short-range ASCMs like the Nasr, which has a range of 21 miles.
A helicopter deck is located just behind the box launchers and mast. Below it is a hangar reportedly large enough for three IRGCN FIACs; these fast inshore attack boats can be lowered into the water and picked up by an internal crane.
Made out of aluminum, Iranian officials have said that the ships have a range of 5,500 nautical miles. They have also said that the catamaran layout provides stability in rough seas and reduces the ships' radar cross-sections, making them harder to detect and track.
Three Soleimani-class corvettes, Shahid Soleimani, Shahid Hassan Bagheri, and Shahid Sayyad Shirazi, have been commissioned, while a fourth, Shahid Ra'is-Ali Delvari, is under construction. One month before the Hassan Bagheri and Sayyad Sirazi's commissioning last February, the IRGCN commissioned a new type of catamaran corvette, the Shahid Abu Mahdi al-Muhandis.
At 157 feet long, 39 feet wide, and displacing around 300 tons, it is smaller than the Shahid Soleimani-class and vastly different in appearance; it has no internal hangar capable of holding FAICs, no VLS cells, and the landing deck behind the bridge appears to be too small for helicopters, likely meaning it is intended for drones.
Its armament consists of 14 missiles; six ASCMs stored in box launchers at the stern and eight more ASCMs in two quad-tubed launchers on the port and starboard sides. It is also equipped with four 23mm Gatling guns and one 30mm auto-cannon.
Rear Admiral Alireza Tangsiri, the commander of the IRGCN, described the Shahid Abu Mahdi al-Muhandis as an "invisible boat" because of its catamaran design, and said it had a range of 2,300 miles.
Iran's IRGC published a video today of launching a ballistic missile from their forward base Shahid Mahdavi (converted container ship). pic.twitter.com/400Y8DYPlr
Though the newest, the catamaran corvettes are not the first sea-faring vessels the IRGCN has operated. The service has unofficially operated the cargo ships MV Saviz and the MV Behshad which, although officially registered as civilian vessels, are used as forward base and command ships to coordinate support for Houthi rebels in Yemen and to gather intelligence. The IRGC smuggles weapons to the Houthis and train them on their use.
In 2020, the IRGCN commissioned its first official sea-going vessel, the Shahid Roudaki. A converted roll-on/roll-off ship, the Shahid Roudaki is capable of carrying FAICs, drones, and military vehicles, and has space for a helicopter on its deck. It is armed with four ASCM box launchers and is believed to play an intelligence-gathering and support role.
Roudaki was briefly the largest ship in the IRGCN fleet until March 2023, when the Guard commissioned the Shahid Mahdavi, a converted container ship formerly known as Sarvin.
At 787 feet long and 105 feet wide, Mahdavi's role is that of an expeditionary sea base and support/mothership. Equipped with a phased array radar and capable of carrying two helicopters, drones, loitering munitions like the Shahed-136, and FAICs, Mahdavi can also be used as a base from which IRGCN special forces can be inserted, and act as an intelligence-gathering vessel.
It is often compared to the US Navy's Lewis B. Puller-class expeditionary mobile bases, the lead ship of which has spent ample time in the Persian Gulf in view of Iranian forces.
Iran's navy has a similar vessel, the IRINS Makran, a forward base ship converted from an oil tanker. Commissioned in 2021, it has conducted multiple long-range voyages, including one that saw it circumnavigate the globe.
Mahdavi made international headlines in February when it launched two ballistic missiles from shipping containers placed on its deck as part of the Great Prophet 18 military exercise. Fired from the Gulf of Oman, the missiles were reported to have successfully hit mock targets in a desert in central Iran, demonstrating an at-sea launch capability for Iran's ballistic missiles.
The ship again made headlines in May when it sailed into the Southern Hemisphere, proving definitively that the IRGCN's reach now extends to the high seas.
Mahdavi will eventually be joined by another converted container ship, the Shahid Bagheri. Formerly known as the Perarin, the vessel has been undergoing conversion into a drone carrier for the IRGCN since 2021.
Measuring 787 feet long, the ship's width has been increased slightly with the addition of a cantilever deck on its port side. In 2023, a ski-jump ramp was fitted to the bow at an angle toward the starboard side in line with the cantilever deck, suggesting that wheeled drones will take off and land by avoiding the ship's towering superstructure that houses the bridge.
The makeup of Bagheri's future unmanned air wing remains a matter of speculation, and could include Shahed 171 and 191s (which are reverse-engineered Iranian copies of a captured American RQ-170 Sentinel), or Mohajer-6 and Shahed 129 drones, all of which can reportedly be used as reconnaissance and strike platforms.
The Bagheri's flight deck measures about 590 feet. The main recovery method for the drones will likely be an arrestor net or cable system of some type, though drones with short takeoff and landing ability may be able to conventionally land in calm seas.
Like the Mahdavi, Bagheri could also be used as a launch platform for loitering munitions like one-way attack drones. In addition, Rear Adm. Tangsiri has said that Bagheri will be able to store 30 FAICs below its deck.
The IRGCN's new warships come with a mandate to expand well beyond the speedboat-based operations that have characterized much of its operations in the Persian Gulf.
Morteza Nikoubazl/Getty Images
An expanded mission
Altogether, the ships represent radical upgrades for the IRGCN — upgrades that the force has desperately wanted.
Though its asymmetric tactics and assets have successfully shot down an American drone, damaged and seized merchant ships, and taken American and British naval personnel prisoners, the last major combat engagement the IRGCN fought was a humiliating defeat for Iran, due in large part to hostile missile-equipped surface combatants and airpower.
Now sailing with large surface combatants armed with anti-air and anti-ship missiles, as well as new FIACs with better anti-ship and anti-air capabilities, the IRGCN poses a greater threat than it did in the 1980s.
"They know they are going on missions that require defense against aerial threats as well as surface threats, so they have to be prepared to defend against those threats by themselves," Farzin Nadimi, a senior defense fellow with the Washington Institute for Near East Policy told Insider.
But the IRGCN's new ships are not just intended for protecting the Persian Gulf — they are also for helping the IRGCN in its new mission: Projecting its power into the high seas.
Previously a mission reserved for Iran's national navy, this expansion of duty was ordered by Ayatollah Khamenei himself in 2020. Though no direct reason has been given for the change, Iranian officials often talk about how the ships will better secure Iran's maritime interests.
"In general, they have portrayed their new mission as protecting the safety and security of Iran's vital maritime routes," Nadimi said.
But it's more likely that the IRGCN needs high-seas capability to better support the IRGC's goal of furthering Iran's strategic interests. Iran is a rival to Israel and Saudi Arabia and arms groups across the region like Hezbollah in Lebanon, Hamas in Gaza, and the Houthis in Yemen.
While Iran's navy is involved in anti-piracy missions and international voyages to show its flag, it is the IRGC that is responsible for supporting Iran's proxy groups abroad. The Guard is also the frontline force for Iran's efforts in Syria.
In the event that its allies need supplies, the new catamaran corvettes "would be able to escort Iranian ships, tankers, or cargo ships that carry important cargoes," Nadimi said. The Mahdavi and Bagheri, converted container ships themselves, could even carry the cargo and deliver it directly.
And while the MV Saviz and MV Behshad have likely been unofficially aiding the Houthis, the fact that they are not officially Iranian military vessels exposes them to the possibility of being attacked in gray zone operations, as happened to Saviz in 2021, when a suspected Israeli limpet mine attack crippled it, causing it to be towed back to Iran.
The IRGCN's new ships, by contrast, are official vessels of the regime. "By law they are sovereign territory of Iran," Nadimi said. "They have the threat of serious escalation behind them if Israel directly attacks them."
The ships can also serve Iran's possible tactical goals as well. As a mobile sea-based ballistic missile launch platform with a long range, the Mahdavi poses a particularly potent threat. An IRGCN surface group made up of the Soleimanis, Madhavi, and Bagheri may even be able to pose a threat to US bombers based in Diego Garcia, an island in the middle of the Indian Ocean.
If tensions in the region continue to escalate into a direct conflict with Israel, these ships could pose a big enough threat that they could become high-priority targets for Israeli submarines operating in the Red and Arabian seas.
With Bagheri finishing construction and a fourth Soleimani-class catamaran being built, the IRGCN's fleet is only expected to get larger as it embraces its new high-seas mission.
"Our oceangoing warships can be present in every location across the world, and when we can fire missiles from them, there is accordingly no safe spot for anyone intending to create insecurity for us," Tangsiri said after the successful missile launches from Mahdavi.
Benjamin Brimelow is a freelance journalist covering international military and defense issues. He holds a master's degree in Global Affairs with a concentration in international security from the Fletcher School of Law and Diplomacy. His work has appeared in Business Insider and the Modern War Institute at West Point.
Apple's former design chief, Jony Ive ,talked about the device that left a deep impression on him.
Getty Images/Michael Kovac
Apple's former design chief, Jony Ive, revealed the creation that left a "deep" impression on him.
Ive said Apple's first wearable product device reflects the evolution of our intimacy with tech.
A decade later, the Apple Watch is one of the most popular wearables ever.
If you're unfamiliar with Jony Ive, odds are you might be reading this on a device he designed.
Apple's legendary former design chief has helped develop some of the company's most iconic products, including the iPhone, iPad, and Macbook.
Yet the device that might just be his favorite isn't in your hand, but it may be on your wrist — the Apple Watch.
When asked recently which Apple product left "a deep impression" on him, Ive mentioned the device.
"I'm proud of what we did with the watch because that's something that I started after Steve had passed," Ive said in a podcast episode of "Life in Seven Songs," referring to Apple's late cofounder, Steve Jobs.
Three years after Jobs' death, Apple unveiled the Apple Watch, its first wearable device and major product line since the iPad. The company then officially released the watch the following year, and it has since undergone nine generations.
Ive described the watch as "one of the most personal products" when looking at the trajectory of Apple devices.
Apple products started off "sitting on your desk, and then they ended up in your bag, and then they ended up in your pocket," he said. "And then it's on your wrist, and it's something that's worn."
The designer noted that people "have a different sort of relationship" with things they wear and "that are that intimate" — an observation that could probably explain why wearable tech is still a fickle product to get right to this day (just look to the mixed reviews of Apple's latest major product, the Vision Pro headset).
"And I've always loved watches anyway," he said. "So as a category, I think this is an interesting one."
Ive, who left Apple in 2019 after more than two decades with the company, has since started his own design firm, LoveFrom.
The Apple Watch has gone on to become a major seller for Apple, helping drive the company's wearables division to $7.9 billion in quarterly revenue in the first three months of 2024.
It was a rip-roaring day of trade for the S&P/ASX 200 Index (ASX: XJO) and most ASX shares this Thursday.
After a rough start to the week, the ASX 200 seemed to be making up for lost time this session, adding a rosy 1.19%. That leaves the index at 7,831.8 points.
This euphoric Thursday for the Australian share market comes after a more mixed night over on the American markets overnight.
The Dow Jones Industrial Average Index (DJX: DJI) had a bouncy day, but ended up finishing 0.061% lower.
It was better for the Nasdaq Composite Index (NASDAQ: .IXIC) though, which shot up 0.88%.
But let’s return to the ASX boards now with a checkup of what the various ASX sectors were doing this Thursday.
Winners and losers
With the market being in such a good mood today, it should be no surprise to see that there were far more winners than losers for the session
But leading the losers today were utilities shares. The S&P/ASX 200 Utilities Index (ASX: XUJ) had another shocker, tanking by 1.11%.
Tech stocks also found themselves on the wrong side of the ledger. The S&P/ASX 200 Information Technology Index (ASX: XIJ) ended up shedding 0.36% of its value.
But that’s it for the losers.
Turning now to the winners, mining shares led the pack. The S&P/ASX 200 Materials Index (ASX: XMJ) had a cracking day, rocketing by 2.26%.
Gold stocks were close behind broader miners, evidenced by the All Ordinaries Gold Index (ASX: XGD)’s 1.96% surge.
Financial shares had a wonderful day too, with the S&P/ASX 200 Financials Index (ASX: XFJ) flying 1.24% higher.
Then we had energy stocks. The S&P/ASX 200 Energy Index (ASX: XEJ) gained an impressive 1.17% this Thursday.
Consumer discretionary shares also counted themselves among the winners, backed up by a 0.85% lift from the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ).
Communications stocks were running hot too, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) bouncing 0.78% higher.
ASX industrial shares were another sector in demand. The S&P/ASX 200 Industrials Index (ASX: XNJ) was sent 0.67% higher today.
Healthcare stocks also saw some positive attention from investors, illustrated by the S&P/ASX 200 Healthcare Index (ASX: XHJ)’s 0.65% gain.
Finally, consumer staples shares found themselves on the right side of the market. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) ended up increasing 0.44%.
Top 10 ASX 200 shares countdown
Taking out this Thursday’s crown was gold stock Bellevue Gold Ltd (ASX: BGL). Bellevue shares rocketed a compelling 6.5% up to $1.965 each today.
There wasn’t any fresh news or announcements from the company, but most gold shares performed well this session
Here’s a look at the other top stocks from today’s trading:
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.
Should you invest $1,000 in Bellevue Gold Limited right now?
Before you buy Bellevue Gold 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 Bellevue Gold Limited wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Sebastian Bowen has positions in Newmont. 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.
"Russia continues to attempt to take ground, but the Ukrainians have done a good job of holding the line," Pentagon press secretary Maj. Gen. Pat Ryder said on Tuesday.
Jose Colon/Anadolu via Getty Images
A delay in US funding for Ukraine didn't result in any gains on the battlefield for Russia, per the Pentagon.
The Ukrainians "have done a good job of holding the line," a Pentagon spokesperson said on Tuesday.
Experts initially believed that Russia would take full advantage of the time lag to gain ground.
Russia wasn't able to get a leg-up in its war on Ukraine despite the delays in US funding, a Pentagon spokesperson said on Tuesday.
"Russia continues to attempt to take ground, but the Ukrainians have done a good job of holding the line," Pentagon press secretary Maj. Gen. Pat Ryder said at a press briefing.
According to Ryder, the US took seven months "to get additional security assistance and supplemental funding for Ukraine." But the time lag didn't bolster Russia's fortunes in Ukraine.
"The Russians made an effort to try to push and take Ukrainian territory and really did not accomplish that much in terms of the amount of geography that they were able to take," Ryder added.
Russia's defense ministry didn't immediately respond to a request for comment from BI sent outside regular business hours.
"The frontline situation will therefore likely continue to deteriorate in that time, particularly if Russian forces increase their attacks to take advantage of the limited window before the arrival of new US aid," the Institute for the Study of War said in April.
In May, US national security advisor Jake Sullivan said Ukraine would still be able to "hold the line" and withstand Russian attacks through 2024, per the Financial Times.
Sullivan also said he expected a Ukrainian counteroffensive to only occur in 2025.
ASX 200 bank shares have had an incredible run since November, with stock prices reaching multi-year highs for all of them except the Bank of Queensland Ltd (ASX: BOQ) in recent months.
The chart below plots the upward trajectory of ASX 200 bank shares from 1 November to date.
Goldman Sachs reckons ASX 200 bank shares are the most expensive bank stocks in the world. The broker says valuations are “skewed to the downside” from here.
Another top broker, UBS, says its clients also view bank shares as “very expensive”. However, they see few reasons why the stocks would be fundamentally derated any time soon.
Let’s investigate further.
They’re expensive, but why would they fall?
In The Australian, UBS analyst John Storey discussed 60 one-on-one meetings that the broker recently held with clients.
He said a lot of investors were keen to understand why the ASX 200 bank shares had outperformed.
Some clients quizzed the broker about whether the banking sector is “becoming utility-like as the operating and business models become more commoditized”.
Storey said:
The sector’s relative outperformance, within the context of light investor positioning, has clients asking why, and more importantly, what should they be doing from here.
UBS has a sell rating on all ASX 200 bank shares except Australia and New Zealand Banking Group Ltd (ASX: ANZ) and Macquarie Group Ltd (ASX: MQG).
Storey said bank valuations relative to GDP are currently near their longer-term averages of 21%. The most recent trough was 15% in 2020, and the most recent peak was 25% in 2013.
So in this context, the bank stocks aren’t too overrated.
He added:
However, compared to countries like, Sweden, Spain and Canada, the Aussie banks don’t appear overly expensive, albeit earnings have held up better in these markets.
Goldman has a ‘negative view’ of ASX 200 bank shares
Goldman Sachs recently said the banks’ valuations had grown “despite weaker relative profitability”.
The broker said: “We recently took a more negative view on Australian banks, reflecting absolute and domestic relative valuations being heavily skewed to the downside.”
Goldman says CBA shares “are in uncharted valuation territory” based on the premium they usually trade for relative to their return on equity (ROE) forecast.
The broker has a sell rating on CBA and a 12-month share price target of $82.61. This implies a near-35% fall from today’s price of $126.88.
Asset Management portfolio manager Dominic Mlcek questions the “lofty valuations” of ASX 200 bank shares today.
“Given the lack of growth outlook in our view, we’re maintaining an underweight exposure towards the big four,” Mlcek said.
Should you invest $1,000 in Australia And New Zealand Banking Group right now?
Before you buy Australia And New Zealand Banking Group 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 Australia And New Zealand Banking Group wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Bronwyn Allen has positions in Anz Group, Commonwealth Bank Of Australia, and Macquarie Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank and Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
For investors and lovers of the Telstra Group Ltd (ASX: TLS) share price, the past 12 months have been tough to watch.
This time last year, this ASX 200 telco was riding high, trading at around $4.36 a share, just a whicker off of Telstra’s current 52-week high of $4.38.
What a difference 12 months makes. Today, those same Telstra shares are trading at $3.66 each. That’s down by almost 16.3% from the pricing Telstra was commanding a year ago.
Yesterday, we also covered how Telstra cemented a share price loss of 15.8% for the 2024 financial year. To be fair, that capital loss was somewhat assuaged by Telstra’s generous dividend payments. But even so, it was a rough FY24 for this ASX 200 telco.
At least the Telstra share price has recovered somewhat (to the tune of around 7%) from the 52-week low of $3.39 that we saw the company hit back in May.
But even so, even the most bullish of Telstra bulls can’t argue that the past 12 months have been nothing but exceptionally tough to watch.
When this decision was announced last year, Telstra shares plunged, and have stuck to a downward trajectory ever since.
But some ASX experts reckon this 16% loss over the past 12 months represents a compelling buying opportunity for investors today.
ASX experts: Buy the Telstra share price today for 20% upside
Last week, we covered the views of ASX broker UBS on the Telstra share price. As we went through at the time, UBS reiterated a ‘buy’ rating on Telstra shares. That was alongside a 12-month share price target of $4.40. If realised, this would see investors enjoy a gain of just over 20% from the current pricing.
UBS pointed to the results of a recent customer survey for its optimism. The broker noted that the survey found Telstra continues to enjoy the perception of having the highest “network quality” on the market while also offering “value for money”.
As such, UBS concluded that the company’s mobile pricing power is “likely intact” and gives Telstra the flexibility to raise its prices.
But UBS isn’t the only one eyeing off Telstra shares at their current valuation.
This broker likes Telstra’s “low risk earnings” and dividend growth potential. It is currently forecasting that the telco will be able to afford 18 cents per share in dividends for FY2024, rising to 18.5 cents per share for FY25.
If Goldman is on the money here, that will give Telstra shares forward dividend yields of 4.92% and 5.05%, respectively.
So it seems that these two ASX brokers are united in their view that Telstra shares can rise meaningfully from their current pricing. But we’ll have to wait and see what the next 12 months hold in store for this telco. No doubt investors will be hoping there is a major improvement over the past 12 months.
Should you invest $1,000 in Telstra Corporation Limited right now?
Before you buy Telstra 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 Telstra Corporation Limited wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Sebastian Bowen has positions in Telstra Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The first ASX growth share that could be a great pick is Aristocrat Leisure. It is one of the world’s leading gaming technology companies with operations covering poker machines, real money gaming, and mobile games.
UBS is very positive on the company and has a buy rating and $56.00 price target on its shares. This implies potential upside of 11% for investors from current levels.
Another ASX growth share that has been tipped as a buy is Lovisa. It is a fashion jewellery retailer that is currently embarking on a major global expansion.
Bell Potter is a big fan of the company thanks largely to this expansion. It believes Lovisa can grow its network by 10% per annum between FY 2023 and FY 2034, supporting very strong earnings growth.
The broker has a buy rating and $36.00 price target on Lovisa’s shares. This suggests that its shares could rise 17% over the next 12 months.
Over at Morgan Stanley, its analysts think that NextDC could be an ASX growth share to buy. It is one of Asia’s most innovative data centre-as-a-service providers.
The broker believes that the data centre market will grow materially over the remainder of the decade and that NextDC stands to benefit greatly.
It has an overweight rating and $20.00 price target on its shares, which implies potential upside of 12% for investors.
The team at Morgans is bullish on online travel agent Webjet.
The broker is feeling very bullish on its outlook thanks to the dominant WebBeds B2B business. It highlights that there is “significant market share still up for grabs.” This appears to position the company well for the future.
Morgans has an add rating and price target of $11.20 on Webjet’s shares. This suggests that they could rise 23% from current levels.
A final ASX growth share to look at in July is Xero. It is a cloud accounting platform provider with over 4 million subscribers.
Goldman Sachs highlights that this is just a fraction of its estimated total addressable market of 100 million small to medium sized businesses. In light of this, the broker feels that Xero has a significant growth runway and feels it is “very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds.”
It has a buy rating and $164.00 price target on Xero’s shares. This implies potential upside of 22% for investors.
Should you invest $1,000 in Aristocrat Leisure Limited right now?
Before you buy Aristocrat Leisure 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 Aristocrat Leisure Limited wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor James Mickleboro has positions in Lovisa, Nextdc, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Lovisa, and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Despite controversial murmurs of company-led spying, the Fortescue Ltd (ASX: FMG) share price is moving with a spring in its step today.
In afternoon trade, the iron ore miner’s shares are up 3.5% to $22.70. However, the exuberance is not isolated to the mining company Andrew Forrest founded in 2003. As this is being written, materials are leading the Australian share market, climbing 2.26%.
Yet, today’s rally is somewhat shrouded in contention as details of an investigation emerge.
Money spent on spies
In June, Fortescue launched legal action against Element Zero, a green metal startup started by former Fortescue employees Michael Masterman, Bart Kolodziejczyk, and Bjorn Winther-Jensen.
The case alleges that the ex-employees smuggled green iron intellectual property out of Fortescue and applied it at Element Zero, committing “industrial-scale misuse.” As such, Masterman and Kolodziejczyk have been the targets of an investigation to substantiate these allegations.
According to newly released court documents, Fortescue hired private investigators to ‘spy’ on its former employees (Masterman and Kolodziejczyk) and their families to obtain information needed to issue search warrants.
Fortescue hired the investigators, who followed the two executives, locating and photographing their homes, wives, and children.
The court documents show surveillance at Kolodziejczyk’s family home continuing after the Element Zero co-founder departed from the Melbourne airport, with the investigator’s notes reading:
In the meantime, surveillance continues at the Hadfield, Victoria residence, where Dr Kolodziejczyk’s wife and child are permanently residing.
Following the surveillance, both former employees were subjected to raids on their homes. The Element Zero co-founders were required to relinquish passwords to their devices — including those of their family members — for copies of their data to be taken.
Both men completely reject the claims made by Fortescue.
Iron ore reignites Fortescue shares
Fortescue investors seem to be more focused on the price of iron ore, with shares rallying today.
Following a rough month in June for the steel-making commodity and Fortescue shares, prices have been on the uptick this month. Iron ore is fetching around US$110 per tonne, rising nearly 4% from late June.
The revitalisation arrives amid stimulus measures announced by Beijing to support its struggling property sector. As part of the measures, people in China will see mortgage interest rates and the minimum down payment reduced.
Fortescue shares are closely linked to China’s property market. In 2022, approximately 88% of the company’s revenue was derived from the People’s Republic.
Should you invest $1,000 in Fortescue Metals Group right now?
Before you buy Fortescue Metals Group 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 Fortescue Metals Group wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Mitchell Lawler 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.
President Joe Biden arrives for a news conference following the Supreme Court's ruling on charges against former President Donald Trump that he sought to subvert the 2020 election, at the White House on July 1, 2024 in Washington, DC.
Andrew Harnik/Getty Images
As President Joe Biden faces calls to step aside, his chief of staff has tried to rally the team.
In an all-staff call on Wednesday, he called on staffers to tune out the noise and focus on their work.
Meanwhile, Biden has been scrambling to shore up support for his campaign, saying he plans to still run.
White House staff have been told to hunker down and power through the tumult of saving President Joe Biden's 2024 campaign, according to multiple reports.
Biden's chief of staff, Jeff Zients, held an all-staff call on Wednesday telling aides that they should be proud of their work and to tune out the noise surrounding their big boss as he doubles down on his reelection bid, according to The Hill.
As Biden scrambles this week to assure donors and heavyweight backers after a calamitous debate showing, Zients told staffers to go heads down and "execute, execute, execute," The New York Times wrote.
The Hill reported that Zients encouraged staffers to stay disciplined and support each other.
The Associated Press also reported on the meeting, writing that it was an effort to boost morale in the White House.
It comes as Biden told his team and Democratic National Committee staff on Wednesday that he would continue running, pushing back on reports that said he privately contemplated whether his campaign may be beyond salvaging.
"I'm not leaving. I'm in this race to the end, and we're going to win," Biden said.
The president has been battling a potential rout among panicked donors and key supporters since the debate, in which he repeatedly mumbled, didn't finish his sentences, and sometimes seemed distracted or lost.
At least two Democratic lawmakers have since called on Biden to step down from reelection, while another two have said the President would likely lose to his rival, former President Donald Trump.
Biden's office has been widely reported to be fielding a flurry of calls and meetings with political leaders, including majority leader Sen. Chuck Schumer of New York and Democratic House leader Rep. Hakeem Jeffries of New York.
"In the face of impending failure, extensive evidence shows that instead of rethinking our plans, we often double down on our decisions," wrote Adam Grant, an organizational psychologist at the Wharton School of the University of Pennsylvania, in an op-ed for The Times. "It feels better to be a fighter than a quitter."
Press teams for the Biden campaign and the White House did not immediately respond to requests for comment from Business Insider sent outside regular business hours.
