Don’t waste time scouring the web for crucial updates – we’ve got you sorted. Here are the key global technology highlights from January 3, 2024.
1. Bitcoin climbs above $45,000 to 21-month peak as new year kicks off
Bitcoin surged to $45,000, a 21-month high, driven by a 156% gain in 2023 and optimism for a U.S. spot bitcoin ETF approval in early January. Ether rose to $2,386.50. Crypto stocks, like Riot Platforms and MicroStrategy, gained. Positive trends, central bank rate cut expectations, and potential ETF approval suggest continued crypto market growth in 2024. (Reuters)
2. Analysis-US fintechs push into fixed-income trading as retail investor interest grows
US fintechs like Public and Wealthfront are entering fixed income, targeting retail investors’ interest. They offer low-cost, user-friendly options, tapping into increased demand due to higher Federal Reserve rates. Fintechs aim to modernize bond investing, foreseeing continued growth in 2024. (Thestar)
3. Apple hits seven-week low after Barclays downgrade on demand concerns
Apple shares fell 3% to a seven-week low after Barclays downgraded due to concerns of weak device demand in 2024. The downgrade, the second of its kind, adds to a growing number of bearish recommendations, signaling ongoing challenges, including lackluster iPhone sales and risks for Apple’s services business. The stock drop could erase about $90 billion from Apple’s market cap. (Thefinancialexpress)
4. Tesla delivers record Q4 cars, but China’s BYD steals top EV spot
Chinese firm BYD surpasses Tesla as the top all-electric vehicle maker, selling 526,409 vehicles in Q4 2023. Tesla delivered 484,507 vehicles but remains the annual leader with over 1.8 million EVs sold. BYD’s strategy of price cuts impacts margins but aims to gain market share. Tesla faced challenges, including increased discounts and incentives, while dealing with regulatory scrutiny over its self-driving technology. (Reuters)
5. Beijing criticises Netherlands’ move to block ASML exports to China
China urges the Netherlands to respect market principles after the Dutch government revokes ASML’s export license for chip equipment, impacting shipments to China. The move raises concerns about international supply chain stability. China emphasizes impartiality and adherence to the law in global technology trade. (Reuters)
6. Samsung’s first Unpacked event of 2024 will take place on January 17
Samsung’s Unpacked event is scheduled for January 17 at 1 PM ET, earlier than usual, likely unveiling the Galaxy S24 flagship smartphone series. The in-person event at SAP Center in San Jose will be live-streamed. Samsung hints at pre-orders, with a pre-reserve program offering a $50 credit. Expect potential announcements beyond smartphones, possibly including new laptop iterations like the Galaxy Book4. (Yahoo)
7. Meet ‘link history,’ Facebook’s new way to track the websites you visit
Facebook introduces “Link History,” tracking users’ clicked links for targeted ads. Default setting; users can opt-out. Amid tech regulations, Meta emphasizes data harvesting for ad improvement. (Yahoo)
8. X/Twitter is now worth less than a third of what Elon Musk bought it for, investor believes
Fidelity marks down Elon Musk’s investment in the company formerly known as Twitter by 71.5%, citing controversies and advertising business decline. Musk’s outburst contributes to the drop, while other social networks see gains. (Yahoo)
9. LG releases new robot it hopes will lead to ‘zero labour home’
LG introduces a mobile smart home robot with two-legged wheels, aiming to assist users with tasks and express emotions. The robot combines AI, mobility, and smart home technologies, offering features like autonomous patrolling and intruder alerts. It’s part of LG’s CES showcase for a “zero labor home.” (Yahoo)
10. Value of X has fallen 71% since purchase by Musk and name change from Twitter
Elon Musk’s X Holdings (formerly Twitter) loses 71.5% of value since his $44bn purchase. Monthly users drop 15%, facing criticism for hate speech and disinformation. Musk reinstates banned figures, triggers advertiser boycotts. Musk remains the world’s richest person with a $251bn net worth. (Theguardian)
