Apple Inc. may have given back the title of largest U.S. public company to Microsoft Corp., but it has just picked up a different crown for the first time.The consumer-electronics company was the the largest smartphone vendor by shipments during 2023, according to new data from market researcher IDC. Apple AAPL, -1.23% shipped 234.6 million devices during the year, per the data, ahead of Samsung Electronics Co. 005930, -1.76%, which shipped 226.6 million. Apple has never before held the top spot, according ...

You couldn’t take 10 steps at CES, the annual Consumer Electronics Show in Las Vegas, without hearing about AI. All the key players in the AI PC race were present last week in force, including Intel INTC, -0.13%, AMD AMD, +8.31%, Qualcomm QCOM, +0.66% and Microsoft MSFT, +0.46%. Intel made the most noise at the event by hosting a press conference and keynote to highlight its latest consumer chip, the Intel Core Ultra. Meanwhile, AMD released a pre-recorded “special address” to talk about its advancements in ...

Advanced Micro Devices Inc.’s stock is closing in on its record closing high amid a sharp Tuesday surge that reflects growing optimism for the company’s opportunities in artificial intelligence.The stock AMD, +7.17% is up more than 7% in midday action to a recent $157.67. That puts it less than 3% away from its all-time closing high of $161.91 achieved Nov. 29, 2021. AMD’s Tuesday stock rally comes amid a broader gains for chip stocks, with the PHLX Semiconductor Index SOX up 1% despite a slightly negative ...

The U.S. Supreme Court on Tuesday declined a request to hear an antitrust dispute between Apple Inc. and Epic Games Inc., the publisher of Fortnite, in what amounts to a pyrrhic victory for Apple.Justices refused to consider Apple’s AAPL, -1.75% appeal in the case challenging its lucrative App Store, a decision that will likely affect revenue from its App Store, which currently amounts to billions of dollars.The high court also passed on Epic’s appeal of a lower court’s ruling that Apple’s App Store policie ...

One major Wall Street bank is weighing in on what it calls “an extreme scenario” in which no Group-of-10 central bank cuts interest rates this year due to sticky inflation, strong economic growth, or fresh shocks that push price gains higher.In a note on Tuesday, Athanasios Vamvakidis, a U.K.-based FX strategist at Bank of America BAC, -2.44%, said it’s worth considering the implication of a seemingly “unrealistic” scenario in which major central banks stay on hold.For now, markets are pricing in about s ...

For the first time, the majority of Wall Street analysts covering PayPal Holdings Inc. shares are feeling skeptical. Mizuho’s Dan Dolev downgraded PayPal’s stock PYPL, -3.44% to neutral from buy Tuesday, bringing the number of analysts with hold-equivalent ratings to 23. Factoring in that one of the 47 analysts covering PayPal’s stock has a sell-equivalent rating, buys no longer constitute the majority of ratings, according to monthly FactSet data. See also: PayPal’s stock starts the new year with sustained ...

JPMorgan Chase & Co. has agreed to pay an $18 million fine without admitting or denying charges by the U.S. Securities and Exchange Commission that it violated whistleblower protection rules with its confidentiality agreements during a three-year period. The SEC said in a statement that JPMorgan JPM, -1.78% regularly asked retail clients and brokerage customer to sign confidentiality release agreements when receiving a credit or settlement from the bank of more than $1,000. The agreements did not permit ...

Apple Inc.’s management typically doesn’t offer commentary on its business outside of the four earnings calls it hosts each year. And even on those calls, executives can be fairly circumspect. But occasionally Apple AAPL, +0.18% speaks with its actions, and that may be the case this week. Reports highlight that the company plans rare discounts in China on iPhones and MacBook Air computers during a Lunar New Year event. Some iPhone prices in China will fall by the equivalent of $70 during the sale, the N ...

Goldman Sachs Group Inc.’s stock GS, -0.53% was up by 1.6% in premarket trading on Tuesday after the investment bank’s fourth-quarter profit beat analysts’ reduced expectations. Goldman Sachs said its net income for the three months ended Dec. 31 rose to $1.87 billion, or $5.48 a share, from $1.19 billion, or $3.32 a share, in the year-ago quarter. Wall Street analysts estimated the marquee investment bank would earn $3.62 a share in the fourth quarter, which was trimmed from $6.67 a share at the start of ...

Shares of Morgan Stanley MS, -0.89% climbed 1.3% in premarket trading Tuesday, after the bank and broker missed profit expectations because of special one-time charges, but beat revenue forecasts by a wide margin, boosted by strength in its investment banking business. Net income dropped 32.2% to $1.52 billion, or 85 cents a share, to miss the FactSet consensus of $1.07. The results included charges of 28 cents a share related to an FDIC special assessment and a legal charge. Revenue grew 1.2% to $12.9 bil ...