5 Top Stories

PS5 in Decline; Nvidia Trumps Amazon; Waymo Recall

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

PS5 Enters Terminal Decline

“Looking ahead, PS5 will enter the latter stage of its life cycle,” said Senior Vice President Naomi Matsuoka during Sony’s [SONY] earnings call on Wednesday. “For this reason, we expect the annual sales pace of PS5 hardware will start falling from the next fiscal year.” Sony logged record revenue in the quarter ended in December, and announced it is to list its financial arm in October 2025, reversing a $3.7bn take-private deal in 2020.

Waymo Recall

Alphabet’s [GOOGL] self-driving vehicle unit Waymo has filed a voluntary recall notice with federal regulators, it announced Tuesday, after consulting with the National Highway Traffic Safety Administration and reviewing two incidents that took place in Phoenix in December last year. The recall will allow Waymo to update its vehicles’ software in light of the incidents, when two of its robotaxis crashed into the same truck in quick succession.

Bezos’ $4bn Cash-Out

Since the start of February Jeff Bezos has sold almost 24 million shares in Amazon [AMZN], worth more than $4bn in total. Last November, Amazon disclosed an agreement that would let him sell up to 50 million shares by 2025. He has not clarified the reasons for the sale, but Bloomberg speculated that it could be related to his relocation to Miami from Seattle (Washington state recently implemented a 7% capital gains tax).

EU Makes Exceptions to DMA

After a five-month investigation, the European Commission has found that Apple’s [AAPL] iMessage and Microsoft’s [MSFT] Bing, Edge and Microsoft Advertising do not qualify as gatekeeper services. This means they will not fall under the EU’s Digital Markets Act, which takes effect in early March. Lazar Radic, an antitrust expert at the International Center for Law and Economics, told Reuters that the decision “is a good sign that the Commission has considered market realities”.

Nvidia Closes in on Alphabet

Having overtaken Amazon on Tuesday, Nvidia [NVDA] was poised to take Alphabet’s [GOOGL] position as the third-most valuable company on Wall Street. Nvidia closed the day with a stock market value of $1.78trn, ahead of the e-commerce giant’s $1.75trn. Alphabet, meanwhile, fell 1.6%, leaving its market cap at $1.81trn — within reach of the chipmaker, which is surging on seemingly inexhaustible interest in AI

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