
US stocks open lower as investors brace for Trump's tariff moves
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Wall Street's main indexes opened lower on Monday as tariff tensions kept investors on edge, while Tesla shares slid after CEO Elon Musk announced his plans to launch a political party.The Dow Jones Industrial Average fell 25.2 points, or 0.06%, at the open to 44,803.36. The S&P 500 fell 20.3 points, or 0.32%, at the open to 6,259.04, while the Nasdaq Composite dropped 110.6 points, or 0.54%, to 20,490.55 at the opening bell.

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Economic Times
an hour ago
- Economic Times
The Magnificent Seven just lost Tesla and Apple - these 2 surging tech stocks are taking over fast
In a potential shake-up of the "Magnificent Seven" tech stocks, Tesla and Apple might be losing their spots to two rising stars: Oracle and Broadcom, as per a report. The shift's recommendation comes from Vimal Patel, manager of the Columbia Seligman Global Technology Fund, a fund that has outperformed its peers by six percentage points annually over the past five years, according to a report by Morningstar who holds an advanced degree in electrical engineering and has a background in the tech industry, is calling for an upgrade to the traditional list of mega-cap tech names, replacing Tesla and Apple with two companies he believes are better positioned for future growth, as per a report by Market Watch. Tesla has had an impressive run, but Patel thinks it's time to take a step back, according to the report. He points to growing competition in the electric vehicle space, especially from China, which is forcing Tesla into price cuts and squeezing margins, as per Market Watch said that, 'It's just a pricing war out there,' as quoted in the report. He's also skeptical about Tesla's long-term bets on robotaxis and humanoid robots, saying, 'We don't buy hopes and dreams,' as quoted by Market Watch. ALSO READ: Billionaires ditch Nvidia for this AI stock that's soared 2,000% since 2023 Apple remains popular with consumers, but Patel sees three key challenges. First, iPhone upgrade fatigue as he said, 'We have been waiting for an iPhone growth cycle, and we have not seen it,' as quoted in the report. Second, Apple's AI offerings haven't impressed and third, the company's exposure to China puts it at serious geopolitical risk, according to the Market Watch said that, 'Of all the Mag 7, they are the most exposed,' adding, 'They are not in a good position to navigate the tariff situation,' as quoted in the READ: Trump blasted for embarrassing typo in tariff letter — misgenders foreign leaderOracle has quietly become a strong competitor in the cloud space, especially through its Oracle Cloud Infrastructure (OCI) business, according to the report. Once known mostly for databases, the company is now gaining ground against Amazon Web Services, Microsoft Azure, and Google Cloud, as reported by Market said, 'They are becoming the next hyperscaler,' adding, "They are starting to show their chops,' as quoted in the report. In its most recent quarter, Oracle reported cloud revenue of $6.7 billion, up 27%, and total sales of $15.9 billion, an 11% increase, as reported by Market Watch. CEO Safra Catz expects cloud revenue to grow another 40% in the next year, as per the report. Oracle is also making strides in AI through Oracle 23 AI, which allows companies to run large language models directly on their private data, according to Market Watch. ALSO READ: VantageScore 4.0 just got a major boost - what it means for your credit and loans While Nvidia has dominated headlines, Broadcom is helping some of the world's biggest tech companies build custom AI chips, a cost-saving move gaining popularity among hyperscalers like Amazon, Google, and Microsoft, as reorted by Market Watch. Patel explained that, 'Instead of spending a ton of money on Nvidia chips, hyperscalers create their own chips made by Broadcom. This reduces costs and power requirements dramatically,' as quoted in the report. Broadcom's AI chip revenue rose 46% to $4.4 billion last quarter, helping total revenue reach $15 billion, as per the report. The company expects AI chip sales to climb to $5.1 billion in the next quarter, a 60% year-over-year jump, reported Market Watch. Broadcom is also a key supplier of networking and wireless chips, making it a crucial player in several areas of tech infrastructure, according to the Market Watch is recommending this change to the Magnificent Seven list?Vimal Patel, a seasoned tech investor and manager of the Columbia Seligman Global Technology Fund, which has outperformed its peers for years, as per the Market Watch report. Should I consider investing in Oracle or Broadcom now? While Patel sees long-term promise in both, always consider your risk tolerance and investment goals before making portfolio changes.


Time of India
2 hours ago
- Time of India
The Magnificent Seven just lost Tesla and Apple - these 2 surging tech stocks are taking over fast
In a potential shake-up of the " Magnificent Seven " tech stocks, Tesla and Apple might be losing their spots to two rising stars: Oracle and Broadcom , as per a report. The shift's recommendation comes from Vimal Patel , manager of the Columbia Seligman Global Technology Fund, a fund that has outperformed its peers by six percentage points annually over the past five years, according to a report by Morningstar Direct. Patel, who holds an advanced degree in electrical engineering and has a background in the tech industry, is calling for an upgrade to the traditional list of mega-cap tech names, replacing Tesla and Apple with two companies he believes are better positioned for future growth, as per a report by Market Watch. Why Tesla should get dropped Tesla has had an impressive run, but Patel thinks it's time to take a step back, according to the report. He points to growing competition in the electric vehicle space, especially from China, which is forcing Tesla into price cuts and squeezing margins, as per Market Watch report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Pieces of Clothing you Can be Too Old for Learn More Undo Patel said that, 'It's just a pricing war out there,' as quoted in the report. He's also skeptical about Tesla's long-term bets on robotaxis and humanoid robots, saying, 'We don't buy hopes and dreams,' as quoted by Market Watch. ALSO READ: Billionaires ditch Nvidia for this AI stock that's soared 2,000% since 2023 Live Events Apple's struggles with innovation and risk Apple remains popular with consumers, but Patel sees three key challenges. First, iPhone upgrade fatigue as he said, 'We have been waiting for an iPhone growth cycle, and we have not seen it,' as quoted in the report. Second, Apple's AI offerings haven't impressed and third, the company's exposure to China puts it at serious geopolitical risk, according to the Market Watch report. Patel said that, 'Of all the Mag 7, they are the most exposed,' adding, 'They are not in a good position to navigate the tariff situation,' as quoted in the report. ALSO READ: Trump blasted for embarrassing typo in tariff letter — misgenders foreign leader Oracle: the next cloud giant? Oracle has quietly become a strong competitor in the cloud space, especially through its Oracle Cloud Infrastructure (OCI) business, according to the report. Once known mostly for databases, the company is now gaining ground against Amazon Web Services, Microsoft Azure, and Google Cloud, as reported by Market Watch. Patel said, 'They are becoming the next hyperscaler,' adding, "They are starting to show their chops,' as quoted in the report. In its most recent quarter, Oracle reported cloud revenue of $6.7 billion, up 27%, and total sales of $15.9 billion, an 11% increase, as reported by Market Watch. CEO Safra Catz expects cloud revenue to grow another 40% in the next year, as per the report. Oracle is also making strides in AI through Oracle 23 AI, which allows companies to run large language models directly on their private data, according to Market Watch. ALSO READ: VantageScore 4.0 just got a major boost - what it means for your credit and loans Broadcom is quietly powering the AI economy While Nvidia has dominated headlines, Broadcom is helping some of the world's biggest tech companies build custom AI chips, a cost-saving move gaining popularity among hyperscalers like Amazon, Google, and Microsoft, as reorted by Market Watch. Patel explained that, 'Instead of spending a ton of money on Nvidia chips , hyperscalers create their own chips made by Broadcom. This reduces costs and power requirements dramatically,' as quoted in the report. Broadcom's AI chip revenue rose 46% to $4.4 billion last quarter, helping total revenue reach $15 billion, as per the report. The company expects AI chip sales to climb to $5.1 billion in the next quarter, a 60% year-over-year jump, reported Market Watch. Broadcom is also a key supplier of networking and wireless chips, making it a crucial player in several areas of tech infrastructure, according to the Market Watch report. FAQs Who is recommending this change to the Magnificent Seven list? Vimal Patel, a seasoned tech investor and manager of the Columbia Seligman Global Technology Fund, which has outperformed its peers for years, as per the Market Watch report. Should I consider investing in Oracle or Broadcom now? While Patel sees long-term promise in both, always consider your risk tolerance and investment goals before making portfolio changes.


Time of India
2 hours ago
- Time of India
Cryptocurrency Live News & Updates : Uniswap Faces Price Pressure Amid Whale Activity
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