5 Top Stories

Will Switch Successor Save Nintendo?

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.

Will Switch Successor Save Nintendo?

The Japanese giant [7974:T] reported results Tuesday, posting an operating profit of ¥64.5bn, below an analysts’ average estimate of ¥74.7bn. The company also said it expects operating income will fall 24% to ¥400bn in the year to March 2025, and Switch sales to total 13.5 million units over the same period, down from a previous estimate of 15.7 million. A silver lining was the announcement of a successor to the Switch, with details coming later this year.

EU Start-ups Target Microsoft

The Asociación Española de Startups represents 700 Spanish companies and has partnerships with Alphabet’s [GOOGLE] Google and Amazon [AMZN] Web Services (AWS). On Monday it filed a formal complaint against Microsoft [MSFT] with the country’s competition regulator, saying that technical and contractual barriers imposed by the tech giant are “significantly affecting both cloud providers and cloud customers within the startup ecosystem in Spain and their international growth”.

In-House Apple AI Chip?

The Cupertino giant [AAPL] is developing its own artificial intelligence (AI) chip, the Wall Street Journal reported on Monday. Building on successes with previous in-house chips for iPhones, Macs and other devices, the project is known internally as Project ACDC, which stands for ‘Apple Chips in Data Center’. Apple is preparing to unveil a new AI strategy at its Worldwide Developers Conference next month.

Amazon Cloud in Singapore

“Cloud service providers like AWS play an important role in improving the digital economy ecosystem,” said Tan Kiat How, Senior Minister of State at Singapore’s Ministry of Communications and Information, at the Tuesday announcement of a $8.9bn investment in the country on the part of Amazon’s AWS. The funds will be used over the next five years to expand its cloud infrastructure and services there, CNBC reported.

Big SoftBank AI Bet

In Europe’s largest AI deal so far, Japan’s Softbank [9984:T] is leading an investment round of more than $1bn into UK self-driving car start-up Wayve. Nvidia [NVDA] was also part of the round, while Microsoft already invested in the London-based company. Prime Minister Rishi Sunak said the deal “anchors the UK’s position as an AI superpower”, according to the Financial Times. Founded in 2017, Wayve’s AI system allows vehicles to learn while driving.

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

Continue reading for FREE

Latest articles