| Mobile Web

Search results for Wedbush Securities

AI & Enterprise

Dan Ives to leave Wedbush after 8 years to set up new financial firm

Dan Ives, Wedbush Securities\' leading technology stock analyst, is leaving the firm to set up a commercial bank targeting the technology, energy, infrastructure and financial industries. Business Insider reported he is preparing the launch after eight years at Wedbush, with large companies and high-net-worth individuals as key clients. Ives said in an internal email he enjoyed his time at Wedbush and built a strong technology franchise. Details of the bank\'s structure, capital and timetable have not been disclosed.

AI & Enterprise

Magnificent 7 market value down $2.3 trillion in June as AI investment doubts grow

The market capitalisation of the so-called Magnificent 7 U.S. tech stocks fell by $2.3 trillion in June. CNBC reported that investors are rechecking whether big tech can recoup heavy spending on AI infrastructure, even as money continues to flow into semiconductors. The CNBC Magnificent 7 Index fell 10 percent in June. In contrast, the Philadelphia Semiconductor Index rose about 6 percent over the same period, and is up more than 90 percent this year.

AI & Enterprise

Nvidia too as U.S. AI, semiconductor stock rout sends global tech shares tumbling

U.S. semiconductor shares fell sharply, triggering profit-taking across global technology stocks that had led the AI-driven rally. The Philadelphia Semiconductor Index slid 7.9 percent, with Micron, SanDisk, AMD, Qualcomm and Nvidia all lower. Selling spread to South Korea and Europe, with Samsung Electronics and SK Hynix down about 12 percent and European chip and equipment names also falling. Some investors shifted into defensive stocks.