A lot of major hedge funds were quite busy ringing the register on some of the beloved big-tech stars in the third quarter. ...

Apple Inc. (NASDAQ:AAPL) has appointed Meta Platforms‘ (NASDAQ:META) chief legal officer Jennifer Newstead as its new general counsel and senior vice president.Newstead To Lead Apple's Legal ShiftNewstead, who previously served as the legal advisor of the U.S. Department of State, will take on the role of senior vice president at Apple next month and assume the position of general counsel in March.She will be succeeding Kate Adams, who has been Apple’s general counsel since 2017. Adams is set to retire late ...

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Labor Market Analysis - The report's central argument is that H-1B and similar foreign-labor programs have evolved into an integral component of the tech labor market, rather than a marginal one [1] - Companies are allegedly using these programs to import cheaper and more compliant labor [1] - These programs facilitate the offshoring of entire departments [1] - Despite these practices, companies continue to promote their workforce as "best and brightest" [1] Impact on American Workers - Hundreds of thousands of American tech workers are facing layoffs, underemployment, or exclusion from the industry [1] Policy Debate - Washington is internally divided on whether the H-1B program is a "talent engine" or a "betrayal of American workers" [1]

Summary of Key Points Core Viewpoint - Layoffs announced by U.S. employers in November decreased from October but still reached the highest total for the year since the pandemic-induced layoffs in 2020, indicating ongoing challenges in the job market [1][8]. Group 1: Layoff Statistics - U.S. employers announced 71,321 layoffs in November, a decrease of 53% from 153,074 in October [1]. - November layoffs were up 24% from 57,727 in the same month last year, marking the highest level for November since 2022 [2]. - Year-to-date job cuts reached 1,170,821 through November, a 54% increase from 761,358 in the same period of 2024 [7]. Group 2: Historical Context - Job cuts in November have exceeded 70,000 only twice since 2008, specifically in 2022 and 2008 [3]. - Historically, job cuts in November were below 70,000 from 1993 until 2000, with a significant spike during the recession year of 2001 [6]. Group 3: Industry-Specific Layoffs - The telecommunications sector led with 15,139 layoffs in November, primarily from Verizon, marking the highest monthly total since April 2020 [11]. - The tech sector announced 12,377 layoffs in November, bringing the total for 2025 to 153,536, an increase of 17% from last year [14]. - The food industry, particularly beef companies, announced 6,708 layoffs in November, totaling 34,165 for the year, a 26% increase from last year [14]. - Retailers reported 3,290 layoffs in November, with a cumulative total of 91,954 for the year, up 139% from 2024 [15].

It's a signal. And what's interesting about it is, as usual, as they think about the budget for 2026, they're going to make layoffs. They're going to cut about 10% across the entire business.That tends to be what happens at this time of year. But he gathered his top executives in his house in Hawaii to discuss, okay, where should most the resources be coming from. Because, remember, they are spending a ton on AI and people have been worried about that.How can he offset that. Well, 30% more cuts, therefore, ...

Core Viewpoint - Alphabet is projected to become the world's largest company by the end of 2026, surpassing Nvidia and Apple, which currently hold the top two positions in market capitalization [1][2]. Company Position - Alphabet is currently the third-largest company globally, with a market cap of approximately $3.9 trillion, ahead of Microsoft at $3.6 trillion [2]. - It is the most profitable tech company, reporting trailing 12-month earnings of $124.5 billion and quarterly earnings of $35 billion, both leading figures among major tech firms [3]. Competitive Advantages - Alphabet has developed a comprehensive artificial intelligence (AI) technology stack, positioning it favorably for future growth [5]. - The company has created its own custom AI chips, known as tensor processing units (TPUs), which provide a significant cost advantage over competitors relying on more expensive graphics processing units (GPUs) [9][10]. - Alphabet's machine learning software platform, Vertex AI, and its foundational large language model (LLM) are industry-leading, enhancing its capabilities in AI model training and deployment [6][7]. Market Strategy - The integration of AI into products like Google Search is driving revenue growth, with AI-powered features enhancing user engagement [11]. - Alphabet's ownership of the Chrome browser and Android operating system, both with over 70% market share, provides a substantial distribution advantage [12]. Future Outlook - As investors recognize Alphabet's leadership in AI, the stock is expected to see significant upside, with a reasonable valuation that should allow it to exceed growth expectations in the coming year [13].

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Wall Street always loves a good consensus, especially when the stock market’s rip-roaring. That’s exactly when Bank of America’s fresh 2026 forecast becomes all the more interesting. According to a Business Insider report, while every major Wall Street firm dishes out a double-digit target for the S&P 500 next year, BofA analysts are pumping the brakes. Considering the S&P 500 closed at nearly 6,830 on Dec. 3, BofA’s year-end 7,100 S&P 500 forecast points to roughly a 4% upside. Investors have clearly go ...

Core Viewpoint - Meta is expected to implement budget cuts of up to 30% for its metaverse initiative, which has seen significant financial losses since its inception, leading to a 4% rise in its shares as investor concerns eased [1][2]. Group 1: Budget Cuts and Financial Impact - The proposed cuts are part of Meta's annual budget planning for 2026, with potential layoffs as early as January [2]. - The metaverse initiative has burned more than $60 billion since 2020, prompting a shift in strategy to align costs with a less optimistic revenue outlook [1][3]. Group 2: Market Position and Product Development - Meta has struggled to sell its vision of an immersive metaverse and expand its device market beyond gaming, although it has gained an early lead with its smart glasses [4]. - Competitors like Alphabet, Apple, and Snap have not successfully capitalized on the smart glasses market, allowing Meta to maintain a competitive edge [4]. Group 3: AI Initiatives and Spending - Meta is also focusing on artificial intelligence, having committed up to $72 billion in capital spending this year, as part of a broader industry trend where large tech companies are expected to spend around $400 billion on AI [5]. - The company reorganized its AI efforts under Superintelligence Labs, with aggressive talent acquisition strategies led by CEO Mark Zuckerberg [6].