Ken Griffin’s $16bn profit-palooza

One thing to start: Microsoft has confirmed a “multibillion-dollar investment” in ChatGPT bot maker OpenAI, making its biggest bet yet that artificial intelligence systems have the power to transform the tech giant’s business model and products. In early December, Citadel and Citadel Securities employees flew into Orlando with their families to celebrate a stellar year for Ken Griffin’s hedge fund and market-making business. Attendees were treated to a musical performance by Coldplay as well as some jokes from its lead singer Chris Martin. Read More...

Motley Fool

Why Apple Stock Was Climbing Today

Shares of Apple (NASDAQ: AAPL) were moving higher today after two analysts reiterated buy ratings on the FAANG stock with one noting that Apple seems likely to beat its own vague guidance due to the weakening dollar. In a note this morning, UBS analyst David Vogt maintained his buy rating and a price target of $180 on the stock, noting that his earlier decision to lower his estimates on supply chain issues didn’t account for the weakening dollar, especially against currencies in Apple’s top foreign markets like Europe, the U.K., China, and Japan. On its fiscal fourth-quarter earnings call, Apple had guided for a 10 percentage-point headwind in foreign currency, but Vogt believes the actual headwind will be four to five percentage points less than that.

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