tech shares

Nvidia sheds fifth of value in two weeks Nvidia Corp. wiped out about $406 billion (R7.25 trillion) in value this week, weighing on key equity benchmarks as jitters spread over the health of the US economy and an AI trade that may have gotten ahead of itself. The world’s largest artificial...

Amazon share price hits record Amazon.com Inc. joined fellow technology behemoths Meta Platforms Inc., Microsoft Corp., and Nvidia Corp. in setting a fresh record as the e-commerce and cloud computing giant’s shares extended gains. The stock rose 1.7% to close at $189.05 (R3,543) on Thursday...

Apple's market value continues drop after US DOJ announces antitrust lawsuit Regulators on both sides of the Atlantic are training their eyes on Apple Inc., unnerving investors with fears over fines and threatening its market dominance. In the US, the Justice Department and 16 attorneys...

SpaceX won't list Starlink in 2024 SpaceX will not pursue an initial public offering of its Starlink unit this year, according to Bret Johnsen, the company’s chief financial officer. “It’d be more in the years to come,” Johnsen said Tuesday at an industry conference. The unit became profitable...

Nvidia stock boom reminiscent of Tesla hype Nvidia Corp.’s rise is captivating the stock market and driving the S&P 500 Index to new highs. But it also raises cautionary reminders of another investor darling that soared on dreams of a technological transformation, only to tumble back to earth...

AMD closes at new record market cap Advanced Micro Devices Inc. shares jumped Thursday, with the chipmaker extending a surge to hit its latest in a series of fresh records this year. The stock rose 9.1%, a climb that resulted in the company’s market capitalisation closing above $300 billion...

Nvidia jumps past Amazon and Alphabet in market value There seems to be no stopping Nvidia Corp.’s scorching rally. The day after surpassing the market value of Amazon.com Inc., the chip giant has now overtaken Alphabet Inc. as well. [Bloomberg]

Mozilla retrenching 60 workers Mozilla Corp., the maker of web browser Firefox, is cutting about 60 jobs as part of a shake-up under a new chief executive officer. Mozilla said that the move affects about 5% of its workforce and that the cuts were primarily in the product development...

Nvidia market cap briefly passed Amazon's Nvidia Corp. briefly overtook Amazon.com Inc. in market value on Monday, the latest milestone in a stunning rally over the past year fueled by soaring demand for its chips used in artificial intelligence computing. Nvidia rose almost 0.2%, closing with...

Jeff Bezos sells R38.07 billion in Amazon stock Jeff Bezos unloaded 12 million shares of Amazon.com Inc. this week, the first time the billionaire has sold the company’s stock since 2021. The sales took place on Wednesday and Thursday and netted just over $2 billion (R38.07 billion), according...

Snap share price plummets after disappointing holiday revenue Snap Inc. plunged more than 30% in late trading after posting disappointing revenue in the holiday quarter, a sign the owner of the Snapchat app is still reeling from a slump in its digital advertising business. Fourth-quarter...

Reddit advised to list at $5-billion valuation Reddit Inc. is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion (R94 billion), according to people familiar with the matter, even as it is...

Big Tech share prices hammered at start of 2024 The largest technology stocks that lifted the broader market last year are having a less-rosy start to 2024. The so-called Magnificent Seven, which includes Apple Inc., Amazon.com Inc., Alphabet Inc., Microsoft Corp., Meta Platforms Inc., Tesla...

What R1,000 in biggest tech shares bought at start of 2023 would be worth now This year has been great for tech stock investors, with the share prices of companies like Nvidia, Meta Platforms, Tesla, and AMD all increasing by more than 100% between 3 January and 26 December 2023. MyBroadband...

Apple share price closes at new record Apple Inc. shares closed at a record high on Wednesday amid a broad rally in technology stocks spurred on by bets that the Federal Reserve will soon begin cutting interest rates as inflation slows. The iPhone maker’s shares climbed 1.7% to $197.96...

Nvidia shares skyrocket to record-high close after chip upgrade announcement Nvidia Corp. shares rose 2.1% Tuesday to close at a record high and notch its 10th consecutive session of gains, matching its longest-ever streak of advances. An update to its artificial intelligence (AI) processors...

Tesla shares shed almost fifth of value in two weeks Tesla Inc. shares are set to wipe out nearly one-fifth of their value in less than two weeks amid growing concerns that demand for electric cars is starting to weaken. The selloff started earlier this month when the electric-vehicle giant...

Tim Cook offloads $41 million's Apple shares Apple Inc. chief executive officer Tim Cook sold stock worth about $41 million (R791.51 million) after taxes in his biggest sale in more than two years as the shares of the iPhone maker slide off recent highs. Cook sold about 241,000 shares...

Arm's blockbuster IPO sends shares surging Arm Holdings Plc climbed 25% in its trading debut after raising $4.87 billion in the year’s biggest initial public offering, delivering a boost for both equity markets and SoftBank Group Corp. founder Masayoshi Son. Shares of the chip designer, still...

Nvidia's Jensen Huang now worth R853 billion (not including his leather jackets) Nvidia Corp.’s chief executive officer Jensen Huang grew as much as $4.2 billion (R77.7 billion) richer after the company’s latest earnings and forecast beat estimates. The shares surged as much as 10% in...