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- 📈 Apple Tumbles
📈 Apple Tumbles
Plus: Wall Street's Biden Era Boom
Good morning & Happy Friday.
From Apple’s sharp stock drop to Trump’s TikTok rescue plan and the surprising surge of XRP.
Grab your Flat White and let's get into it! ☕️👇️
Fueled for Fortune
Wired's "rocket fuel of AI" label has Wall Street buzzing. Projections skyrocketing to $80 trillion, akin to 41 Amazons, signal a seismic shift. But here's the kicker: astute investors have a shot at riding the wave with a company primed for supremacy. Dive into The Motley Fool's exclusive report for your front-row seat.
Markets
🍎 Apple has worst day since August
Apple's stock tumbled 4% on Thursday, its sharpest drop since August, amid reports of weak iPhone sales in China. The tech giant's shares are now down nearly 12% from December highs, making it the worst-performing Big Tech stock of 2025 so far.
Market research firm Canalys revealed Apple slipped to third place in China's smartphone market in 2024, with shipments falling 17% year-over-year, while Vivo and Huawei surged ahead.
🇺🇸 Trump wants to ‘save’ Tiktok, but it’s not so simple
President-elect Donald Trump is reportedly exploring bold, unconventional moves to delay TikTok's looming US ban. One option includes an executive order that could postpone enforcement by several months. However, such a decision might clash with federal law, potentially triggering significant legal challenges over the months ahead.
❌ Hindenburg Research to shut down
Hindenburg Research, the US short-seller famous for its market-shaking reports, is shutting down operations. The sudden closure has sparked speculation about its practices and what led to this decision. The firm gained global attention in 2023 after allegations against billionaire Gautam Adani erased billions from his companies' market value.
🏦 Big US Bank Profits Surge as Biden Era Comes to a Close
Wall Street’s biggest banks are closing out the Biden years with record-breaking success, reporting their second-most profitable year ever in 2024. JPMorgan made history as the first US bank to surpass $50 billion in annual profit, while Citigroup saw record revenue in three of its key segments.
📈 XRP Volume Overtakes Bitcoin on Coinbase as U.S. Investor Interest Grows
XRP has overtaken Bitcoin as the most-traded cryptocurrency on Coinbase, signaling a shift in U.S. investor demand. While Bitcoin remains the top-traded asset on Binance, XRP's popularity has surged after Ripple CEO Brad Garlinghouse met with President-elect Donald Trump.
Speculation around a potential U.S. approval for a spot XRP ETF has further fueled the digital asset's rise, making it the top performer since November's election.
Quick News
Amid ongoing speculation about an American strategic bitcoin reserve, several US states are looking to take matters into their own hands.
US Treasury Secretary Janet Yellen’s computer was infiltrated and unclassified files were accessed as part of a broader breach of the agency by Chinese state-sponsored hackers.
Greenland’s melting ice is clearing the way for a mineral ‘gold rush’.
Monday is both Inauguration Day and Martin Luther King Jr. Day - here’s what’s open.
SpaceX catches Starship booster a second time, loses ship to an ‘anomaly’ in space.
Less than 48 hours ago, OpenAI dropped ChatGPT with Scheduled Tasks.
And people can't stop building creative automation task to have AI agents work while they sleep.
10 wild examples:
1. Daily stock market analysis
— Min Choi (@minchoi)
2:46 PM • Jan 16, 2025
Companies targeted by Hindenburg.
— Trade Brains (@TradeBrainsGrp)
12:22 PM • Jan 16, 2025
BREAKING: 🇺🇸 Donald Trump to designate crypto as a national priority, including the consideration of a "national #Bitcoin stockpile" — Bloomberg
— Bitcoin Magazine (@BitcoinMagazine)
10:26 PM • Jan 16, 2025
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