Money
FS… full of BS? The Wellesley Grove Journal
Such a slay
Competition was tough in the ‘Best selfie’ competition at the Money Marketing Awards this year.
Amid a swathe of strong entries, mortgage and protection adviser Sheun Oke scooped the prize for her slay selfie — very demure.
This did, of course, leave many disappointed. But fear not, Greg Moss and Tom Ham — there is always next year for you to up your rizz.
FS… full of BS?
Hosting the MM Awards this year was comedian Lucy Porter, who did such a fantastic job of pointing out how full of acronyms this industry is, we wanted to highlight it here….
“I wanted to find out more about you, so I asked Tom and his lovely team, and they said that these are the Money Marketing Awards, or the MMAs.
“They said that, in the room tonight, we might have CEOs, CFOs, MDs and VPs from companies like CCLA, HSBC, HL, AJ Bell and M&G.
“They said some of you might be members of the PFS, the CII or the CISI. They said you might have MCSI after your name, or be a proud owner of a DipFa or RQF Level 4 diploma.
“They said you might be responsible for overseeing your company’s ESG framework, CSR policies, DNI initiatives, maybe even GDPR compliance.
“They said you’re probably interested in how developments such as new AI models, like ChatGPT, will affect your industry. And they said, whoever you are, you’ve got to hit your KPIs, get a good ROI for investors, all as the FCA breathes down your neck.
“And obviously, like the rest of us, you’re probably wondering whether HMG and the BoE are doing enough about inflation on the RPI, while also hoping everything’s going to be A-OK with the UK’s GDP now that GB said TTF ends with the EU.
“And, at that point, I just thought, ‘OMG, WTF, LOL — your industry’s full of BS.’”
Out of context
‘Soon to be known as Jsn Wndsr’
Money Marketing reader Tony Faraday takes the opportunity to poke fun at e-less Abrdn as it hires a new CEO.
‘I’ve just been reading a wealth manager’s brochure and it highlighted how their fee structure was simple and transparent — but it didn’t disclose what the fees were’
IFA Robert Lewis points out a prime example of disingenuousness.
‘The job search continues. I gave up being dressed as a balloon at a theme park after I found some angry customers really upsetting. They had a right pop at me’
Writer Simon Read can always be relied upon for top dad jokes.
‘One common mistake I see people make with their money is that they spend it all. Follow me for more financial insights’
Obvious but valid perception from adviser Douglas Boneparth.
This article featured in the October 2024 edition of Money Marketing.
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Ripple challenges SEC’s ruling on institutional XRP sales, claiming the Howey test was misapplied.
BTC price trajectory appears all but destined for six figures in the mid term — despite nearly eight months of Bitcoin market consolidation.
2024 is turning out to be a solid year for the global semiconductor industry, driven by multiple catalysts. These include the booming demand for chips that can manage artificial intelligence (AI) workloads, a turnaround in the smartphone market’s fortunes, and a recovery in the personal computer (PC) market.
These factors explain why the global semiconductor industry’s revenue is expected to jump 16% in 2024 to $611.2 billion, according to World Semiconductor Trade Statistics (WSTS). That points toward a nice turnaround from last year, when the semiconductor industry’s revenue fell 8%. Even better, the semiconductor space is expected to keep growing in 2025 as well, with WSTS projecting a 12.5% increase in the industry’s earnings to $687.4 billion next year.
More specifically, WSTS predicts a whopping 25% increase in the memory market’s revenue in 2025 to $204.3 billion. As it turns out, memory is expected to be the fastest-growing semiconductor segment next year as well, following an estimated jump of almost 77% in this segment’s revenue in 2024.
There’s one company that could help investors tap this fast-growing niche of the semiconductor market next year: Micron Technology (NASDAQ: MU). Let’s look at the reasons why buying this semiconductor stock could turn out to be a smart move right now.
WSTS isn’t the only forecaster expecting the memory market to surge higher next year. Market research firm TrendForce estimates that the sales of dynamic random access memory (DRAM) could jump 51% in 2025, while the NAND flash storage market could clock 29% growth. Both these markets are expected to reach record highs next year.
The growth in these memory markets will be driven by a combination of strong demand and improved pricing. TrendForce is forecasting a 35% year-over-year increase in DRAM prices next year, driven by the increasing demand for high-bandwidth memory (HBM) that’s used in AI processors, as well as the growth in DRAM deployed in servers. Meanwhile, the growing demand for enterprise-class solid-state drives (SSDs) and the growth in smartphone storage will be tailwinds for the NAND flash market.
These positive trends explain why Micron is set to begin its new fiscal year on a bright note. The company’s revenue in fiscal 2024 (which ended on Aug. 29) increased 61% year over year to $25.1 billion. The company posted a non-GAAP (generally accepted accounting principles) profit of $1.30 per share, compared to a loss of $4.45 per share in fiscal 2023, driven by a big jump in its operating margin on account of recovering memory prices.
Cardano Foundation chief technology officer Giorgio Zinetti told Cointelegraph that centralized authority is good for speed, but decentralized governance would give long-term sustainability.
Tech pioneer Intel (INTC) has seemingly missed out on the artificial intelligence boom — and part of it can reportedly be traced back to a decision not to buy the chipmaker at the center of it all almost two decades ago.
Intel’s former chief executive Paul Otellini wanted to buy Nvidia in 2005 when the chipmaker was mostly known for making computer graphics chips, which some executives thought had potential for data centers, The New York Times (NYT) reported, citing unnamed people familiar with the matter. However, Intel’s board did not approve of the $20 billion acquisition — which would’ve been the company’s most expensive yet — and Otellini dropped the effort, according to The New York Times.
Instead, the board was reportedly more interested in an in-house graphics project called Larrabee, which was led by now-chief executive Pat Gelsinger.
Almost two decades later, Nvidia (NVDA) has become the second-most valuable public company in the world and continuously exceeds Wall Street’s high expectations. Intel, on the other hand, has seen its shares fall around 53% so far this year and is now worth less than $100 billion — around 30 times less than Nvidia’s $3.4 trillion market cap.
In August, Intel shares fell 27% after it missed revenue expectations with its second-quarter earnings and announced layoffs. The company missed profit expectations partly due to its decision to “more quickly ramp” its Core Ultra artificial intelligence CPUs, or core processing units, that can handle AI applications, Gelsinger said on the company’s earnings call.
And Nvidia wasn’t the only AI darling Intel missed out on.
Over a decade after passing on Nvidia, Intel made another strategic miss by reportedly deciding not to buy a stake in OpenAI, which had not yet kicked off the current AI hype with the release of ChatGPT in November 2022.
Former Intel chief executive Bob Swan didn’t think OpenAI’s generative AI models would come to market soon enough for the investment to be worth it, Reuters reported, citing unnamed people familiar with the matter. The AI startup had been interested in Intel, sources told Reuters (TRI), so it could depend less on Nvidia and build its own infrastructure.
CryptoCurrency
Microsoft Urges Shareholders to Vote Against a Proposal to Assess Bitcoin as a Diversification Investment: Filing
The National Center for Public Policy Research, a conservative think tank, has notified shareholders of Microsoft that it intends to propose a Bitcoin Diversification Assessment at the company’s annual meeting on Dec. 10, a filing shows.
In a Schedule A filing with the U.S. Securities and Exchange Commission on Thursday, Microsoft laid out issues that will be discussed at the company’s next shareholder meeting. One of the proposals suggests that the tech firm should look into bitcoin to hedge against inflation and other macroeconomic influences.
The board recommends shareholders to vote against this proposal, the filing reveals, arguing that Microsoft already “carefully considers this topic.”
“Past evaluations have included Bitcoin and other cryptocurrencies among the options considered, and Microsoft continues to monitor trends and developments related to cryptocurrencies to inform future decision making,” according to a company statement in opposition of the proposal.
“As the proposal itself notes, volatility is a factor to consider in evaluating cryptocurrency investments for corporate treasury applications that require stable and predictable investments to ensure liquidity and operational funding. Microsoft has strong and appropriate processes in place to manage and diversify its corporate treasury for the long-term benefit of shareholders and this requested public assessment is unwarranted,” it said.
The National Center for Public Research, a member of Project 2025 argued that bitcoin is an “excellent, if not the best, hedge against inflation,” and that at minimum, companies should invest 1% of its total assets into the cryptocurrency.
Microsoft’s top shareholders include Vanguard, BlackRock and State Street.
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