The European Union has directed&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to discontinue geo-blocking on its media services. The European Commission has identified several geo-blocking practices on Apple's platforms, including the App Store, Apple Arcade, <a href="https://www.benzinga.com/news/global/24/11/41897368/apple-ordered-by-eu-to-end-geo-blocking-on-app-store-itunes-and-other-apps" target="_blank" rel="noreferrer noopener">Music, iTunes Store, Books, and Podcasts</a>.



Following the 2024 U.S. Presidential election, Taylor Swift's fanbase, known as "Swifties," have reportedly started leaving Elon Musk‘s social media platform X, <a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising" target="_blank" rel="noreferrer noopener">formerly </a><a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising" target="_blank" rel="noreferrer noopener">Twitter</a><a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising" target="_blank" rel="noreferrer noopener">, for </a><a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising" target="_blank" rel="noreferrer noopener">Bluesky</a>.



Gaming



Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Gaming CEO&nbsp;Phil Spencer&nbsp;has confirmed the company has its sights set on a handheld gaming device under the Xbox brand. He did temper expectations, saying the device is <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/41948549/xbox-handheld-a-few-years-out-says-microsoft-gaming-ceo-hints-at-cross-platform-games-new-acquisitions" rel="noreferrer noopener">still &#8220;a few years out&#8221;&nbsp;from release</a>.



Nintendo Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) filed a lawsuit against a gamer for allegedly streaming pirated games <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/41887408/nintendo-sues-streamer-over-pirated-games-claims-millions-dollars-lost-revenue" rel="noreferrer noopener">before their&nbsp;official release dates</a>.



Valve is launching a limited-edition Steam Deck OLED: White Edition on Nov. 18, with global <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/41914135/valves-steam-deck-oled-gets-makeover-heres-what-you-need-to-know" rel="noreferrer noopener">availability and limited stock.</a>



Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/41884190/did-rockstar-drop-gta-6-trailer-hint-fans-spot-moon-clue-pointing-to-nov-22" rel="noreferrer noopener">Did Rockstar Drop GTA 6 Trailer Hint? Fans Spot Moon Clue Pointing To Nov. 22</a>



Smartphones



Apple introduced an automatic reboot feature for idle&nbsp;iPhones in its latest&nbsp;iOS 18.1 update <a target="_blank" href="https://www.benzinga.com/media/24/11/41873261/apples-ios-18-1-update-adds-inactivity-reboot-to-lock-down-unused-iphones-heres-how-it-protects-your-privacy" rel="noreferrer noopener">to bolster device security</a>.



Apple has begun selling repair parts&nbsp;for its latest&nbsp;iPhone 16 and iPhone 16 Pro models via <a target="_blank" href="https://www.benzinga.com/tech/24/11/41870693/apple-starts-selling-iphone-16-repair-parts-heres-what-you-need-to-know-about-diy-fixes-for-your-iphone" rel="noreferrer noopener">its self-service repair store</a>.



Apple reportedly plans to make its "first foray" into the smart home IP camera market in 2026, aiming for "tens of millions" of annual shipments, <a target="_blank" href="https://www.benzinga.com/tech/24/11/41891237/apples-smart-camera-coming-in-2026-cupertino-eyeing-tens-of-millions-in-annual-shipments-says-top-supply-chain-analyst" rel="noreferrer noopener">according to&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/24/11/41891237/apples-smart-camera-coming-in-2026-cupertino-eyeing-tens-of-millions-in-annual-shipments-says-top-supply-chain-analyst" rel="noreferrer noopener">Ming-Chi Kuo</a>.



Read: <a target="_blank" href="https://www.benzinga.com/tech/24/11/41894509/apples-next-big-bet-think-smaller-says-analyst-there-will-never-be-another-iphone" rel="noreferrer noopener">Apple&#8217;s Next Big Bet? Think Smaller, Says Analyst: &#8216;There Will Never Be Another… iPhone&#8217;</a>



Apple reportedly plans to unveil a new AI wall tablet to challenge&nbsp;Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and&nbsp;Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) <a target="_blank" href="https://www.benzinga.com/media/24/11/41928049/apples-new-ai-wall-tablet-with-siri-and-video-calling-set-to-challenge-amazon-and-google-in-smart-home-race" rel="noreferrer noopener">in the smart home race</a>.



Apple announced a new feature for its Find My app that allows users to share the location of lost items <a target="_blank" href="https://www.benzinga.com/tech/24/11/41931360/apples-airtag-users-can-now-share-location-with-airlines-for-faster-recovery-of-lost-luggage" rel="noreferrer noopener">with third parties, including airlines</a>.



Also Read: <a target="_blank" href="https://www.benzinga.com/tech/24/11/41931521/apples-2024-mac-mini-is-a-compact-powerhouse-but-its-power-button-placement-is-not-the-most-accessible-here-are-some-workable-fixes" rel="noreferrer noopener">Apple&#8217;s 2024 Mac Mini Is A Compact Powerhouse, But Its Power Button Placement Is Not The Most Accessible: Here Are Some Workable Fixes</a>



Consumer group&nbsp;Which?&nbsp;has filed a £3 billion ($3.81 billion) legal claim against&nbsp;Apple, accusing the tech giant of breaching U.K. competition law <a href="https://www.benzinga.com/news/global/24/11/41964915/apple-faces-legal-action-over-rip-off-icloud-charges-could-pay-out-38b-to-uk-customers" target="_blank" rel="noreferrer noopener">through its&nbsp;iCloud service</a>.



Online Retail



In a move to attract holiday shoppers,&nbsp;Amazon.com rolled out early Black Friday discounts on a range of&nbsp;Apple products. These deals offer significant savings on the latest MacBook Pro, <a target="_blank" href="https://www.benzinga.com/tech/24/11/41872968/amazon-offers-early-black-friday-deals-with-up-to-350-off-on-apple-macbooks-heres-more" rel="noreferrer noopener">Mac mini, and MacBook Air models</a>.



Amazon is reportedly&nbsp;developing smart eyeglasses for its&nbsp;delivery drivers, aiming to streamline&nbsp;the final stretch of an&nbsp;<a target="_blank" href="https://www.benzinga.com/media/24/11/41891126/amazons-new-smart-eyeglasses-for-drivers-aim-to-shave-seconds-off-deliveries-but-theres-more-than-what-meets-the-eye" rel="noreferrer noopener">order's journey to a customer's&nbsp;home</a>.



Amazon is preparing to introduce its newest artificial intelligence chips in December. His strategic move aims to leverage Amazon's significant investments in semiconductors and reduce reliance on Jensen <a target="_blank" href="https://www.benzinga.com/tech/24/11/41895759/amazon-set-to-introduce-new-ai-chips-in-december-to-rival-jensen-huangs-ai-stalwart-we-want-to-be-absolutely-the-best-place-to-run-nvidia" rel="noreferrer noopener">Huang's&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/24/11/41895759/amazon-set-to-introduce-new-ai-chips-in-december-to-rival-jensen-huangs-ai-stalwart-we-want-to-be-absolutely-the-best-place-to-run-nvidia" rel="noreferrer noopener">NVIDIA Corporation </a><a target="_blank" href="https://www.benzinga.com/tech/24/11/41895759/amazon-set-to-introduce-new-ai-chips-in-december-to-rival-jensen-huangs-ai-stalwart-we-want-to-be-absolutely-the-best-place-to-run-nvidia" rel="noreferrer noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</a>.



Amazon.com&nbsp;confirmed a vendor data breach exposing employee contact information, linking the company to the widening&nbsp;MOVEit&nbsp;hack. The exact number of affected employees is unclear, but a screenshot from the hacking forum shows over 2.8 million lines <a target="_blank" href="https://www.benzinga.com/media/24/11/41927913/amazon-confirms-vendor-data-breach-affecting-2-8m-employee-contacts-adds-to-growing-list-of-moveit-hack-victims" rel="noreferrer noopener">in the alleged Amazon dataset</a>.



Socia Media &amp; Technology



Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;is reportedly planning to introduce ads on its&nbsp;Threads&nbsp;platform in early 2025 as&nbsp;Elon Musk's X&nbsp;is&nbsp;<a target="_blank" href="https://www.benzinga.com/general/social-media/24/11/41963996/mark-zuckerbergs-meta-eyes-2025-to-introduce-ads-on-threads-as-elon-musks-x-loses-favor-with-major-brands-report" rel="noreferrer noopener">losing favor with major brands</a>.



Several prominent French media organizations, including those owned by billionaire&nbsp;Bernard Arnault, have filed a lawsuit against&nbsp;Elon Musk's&nbsp;social media platform&nbsp;X&nbsp;for allegedly using <a target="_blank" href="https://www.benzinga.com/general/social-media/24/11/41964636/elon-musk-bernard-arnault-once-discussed-potential-spacex-louis-vuitton-collab-the-french-billionaires-media-group-has-now-sued-x-over-alleged-unpaid-content-use" rel="noreferrer noopener">their content without compensation</a>.



Google Gemini&nbsp;app has been spotted as a <a target="_blank" href="https://www.benzinga.com/tech/24/11/41891904/googles-standalone-gemini-app-for-iphone-spotted-with-live-activity-what-it-could-mean-for-your-ai-experience" rel="noreferrer noopener">standalone&nbsp;app on the&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/24/11/41891904/googles-standalone-gemini-app-for-iphone-spotted-with-live-activity-what-it-could-mean-for-your-ai-experience" rel="noreferrer noopener">App Store</a>.



Microsoft President&nbsp;Brad Smith&nbsp;emphasized China's swift technological advancements, suggesting they <a target="_blank" href="https://www.benzinga.com/news/global/24/11/41939983/microsoft-president-warns-beijings-tech-progress-is-catching-up-with-the-west-people-who-dont-go-to-china-too-often-assume-theyre-behind" rel="noreferrer noopener">are on par with Western nations</a>.



Artificial Intelligence



To counter AI-driven misinformation,&nbsp;OpenAI's ChatGPT&nbsp;rejected 250,000 deepfake image requests of candidates in the month<a target="_blank" href="https://www.benzinga.com/24/11/41870783/chatgpt-denies-250k-deepfake-requests-in-lead-up-to-election-day-aiming-to-curb-ai-driven-misinformation-in-2024-presidential-race" rel="noreferrer noopener"> before the&nbsp;2024 election</a>.



OpenAI CEO&nbsp;Sam Altman&nbsp;has expressed his appreciation for&nbsp;Tesla&nbsp;and&nbsp;SpaceX&nbsp;CEO&nbsp;Elon Musk's&nbsp;initial financial <a target="_blank" href="https://www.benzinga.com/24/11/41893707/openai-ceo-sam-altman-thanks-elon-musk-for-early-support-in-chatgpts-rise-and-shares-advice-hed-give-his-younger-self-at-stanford" rel="noreferrer noopener">backing&nbsp;in&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/11/41893707/openai-ceo-sam-altman-thanks-elon-musk-for-early-support-in-chatgpts-rise-and-shares-advice-hed-give-his-younger-self-at-stanford" rel="noreferrer noopener">ChatGPT</a><a target="_blank" href="https://www.benzinga.com/24/11/41893707/openai-ceo-sam-altman-thanks-elon-musk-for-early-support-in-chatgpts-rise-and-shares-advice-hed-give-his-younger-self-at-stanford" rel="noreferrer noopener">-parent</a>.



OpenAI co-founder&nbsp;Greg Brockman&nbsp;has announced his comeback to the AI startup<a target="_blank" href="https://www.benzinga.com/tech/24/11/41927135/greg-brockman-returns-to-work-at-chatgpts-parent-company-back-to-building-openai" rel="noreferrer noopener"> after a three-month leave</a>.



OpenAI&nbsp;reportedly plans to launch a new&nbsp;AI agent, codenamed <a target="_blank" href="https://www.benzinga.com/media/24/11/41964846/openais-operator-ai-agent-will-perform-tasks-like-coding-travel-booking-and-more-launch-expected-in-january-next-year-report" rel="noreferrer noopener">&#8220;Operator,&#8221; in January</a>.



Dario Amodei, CEO of&nbsp;Anthropic, predicts&nbsp;AGI could become&nbsp;a reality by 2026 or 2027 but warns that external <a target="_blank" href="https://www.benzinga.com/tech/24/11/41928832/anthropic-ceo-says-ai-similar-to-human-intelligence-could-be-around-the-corner-well-get-there-by-2026-or-2027" rel="noreferrer noopener">factors may delay progress</a>.



Unbabel, a startup based in Lisbon, has introduced a new AI-powered translation service called Widn.AI. The company's CEO,&nbsp;Vasco Pedro, predicts that human translators might become<a target="_blank" href="https://www.benzinga.com/tech/24/11/41932536/ai-coming-for-translator-jobs-this-ceo-says-humans-wont-be-needed-for-translation-except-most-difficult-use-cases-in-3-years" rel="noreferrer noopener"> obsolete within the next three years</a>.

News

Retail Sales

Tech

AAPL

AMZN

GOOG

MSFT

NTDOY

NVDA

Consumer Tech News (November 11-15): Apple Plans To Launch An AI Wall Tablet, Meta Plans To Introduce Ads On Threads & More

<a href="https://www.benzinga.com/news/24/11/41884428/warren-buffetts-166-billion-warning-to-wall-street-has-hit-a-fever-pitch-and-the-financial-world-cant-afford-to-ignore-it">Warren Buffett's</a> investment strategy is a case study in bold and safe play. Nearly $99 billion is pegged on two iconic names: Apple and Coca-Cola. Through Berkshire Hathaway, Buffett has channeled a whopping half of his equity holdings into Apple alone and he's held tight to his Coca-Cola shares since the late 1980s.&nbsp;



Don't Miss:



<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target –<a href="https://www.benzinga.com/money/mode-mobile-2"> You can still get 4,000 of its pre-IPO shares for just $1,000</a></li>



<li>This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before closing date.</a></li>
</ul>



His strategy here is simple but powerful – backing companies with brand strength and consistent financials. Apple's stock, for instance, surged 31% this year and many see this as Buffett's savviest move yet. Some say it's his "crown jewel," lauding his foresight in spotting a tech company that's proven as resilient as it is profitable.



But as with any big bet, Buffett's heavy reliance on Apple has sparked some chatter. Skeptics say putting so many eggs in one tech basket could be risky. With tech stocks, there's always the threat of shifting consumer trends, not to mention the occasional market shake-up.&nbsp;



Trending: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>



And while Apple has shown impressive gains this year, the latest numbers hint at a slight cooling. In the last fiscal year, Apple's total revenue dipped by 0.8% – a small shift but enough to raise eyebrows. Still, Morgan Stanley analyst Erik Woodring believes Apple has room to climb, setting a price target of $273, which would mark a 20% rise from current levels.



Apple's pivot toward services is holding it steady. Though iPhone sales may ebb and flow, Apple's revenues from the App Store, streaming and cloud services have grown by 23% over the past few years.&nbsp;



Services have also helped Apple boost its profit margins, going from 43.3% in 2022 to 46.2% in 2024, catching Wall Street's attention. These margins and the cash flow from services make Apple's high share prices easier to swallow, especially as it could mean bigger dividends for shareholders.



Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>



Then there's <a href="https://www.benzinga.com/personal-finance/24/07/40046044/grant-cardone-says-buffett-made-508-million-as-an-investor-in-coca-cola-last-year-the-ceo-made-5">Coca-Cola</a>, which stands out as Buffett's textbook choice. It's familiar, steady and beloved worldwide. His initial investment in Coca-Cola in the late ‘80s has since grown to a $27.67 billion stake and despite recent bumps – like a 12% drop from September's peak – investors still see value here.&nbsp;



Morgan Stanley's Dara Mohsenian predicts Coca-Cola could climb to $76 a share, marking a potential 19% increase. Investors love Coca-Cola for its dependable growth and steady dividend payouts. Coca-Cola just raised its dividend for the 62nd consecutive year, offering a 3% yield – a rarity in today's market.&nbsp;



Unlike the roller-coaster nature of tech, Coca-Cola's simpler, time-tested business model gives it a stability that's hard to beat. The company's revenue ticked up, with a 5.0% rise in the first nine months of 2024 alone and management projects 10% organic sales growth for the year – proof of the brand's staying power.



Read Next:



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<li>‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a></li>



<li>With over 7.8K investors including Meta, Google, And Amazon Execs — this AI Startup's valuation has skyrocketed from $5 million to $85 million in just three years. <a href="https://www.benzinga.com/money/rad-ai">Be an early investor with just $1,000 for only $0.50/share today before the offer closes in 2 weeks.</a></li>
</ul>

Startups

$99 Billion Bet: Warren Buffett Invests Heavily In 2 Stocks Expected To Jump 19% And 20%, Wall Street Analysts Predict

Billionaire entrepreneur Mark Cuban is well known for investing in cash-hungry startups on the popular television show &#8220;Shark Tank.&#8221; Interestingly enough, if you really want to make the &#8220;big bucks,&#8221; Cuban says you shouldn&#8217;t be <a href="https://www.benzinga.com/news/23/01/30510598/mark-cuban-has-4-rules-for-making-money-how-you-can-succeed-and-become-a-millionaire-1">raising capital for your business</a>. 



Instead, you should be trying to launch a business &#8220;with as little money as possible,&#8221; Cuban said at the 2023 SXSW Conference,&nbsp;<a href="https://www.cnbc.com/2023/04/09/mark-cuban-best-way-to-start-a-business-is-with-little-to-no-money.html#Echobox=1681052365">per&nbsp;</a>CNBC.



Cuban&#8217;s Advice: Although Cuban spends a lot of time investing in startups, he doesn&#8217;t recommend that entrepreneurs take on investors if they really want to make the &#8220;big bucks.&#8221;



&#8220;The more of your equity that you can retain and control, the more the upside,&#8221; Cuban said.



The thing that people forget is that when you raise money from someone, that person expects a return, he said, adding&nbsp;you are actually better off using your own personal savings and letting that money take you as far as you can.



Check This Out: <a href="https://www.benzinga.com/news/24/11/41865587/mark-cuban-planned-to-retire-by-age-35-he-says-theres-only-one-reason-he-didnt">Mark Cuban Planned To Retire By Age 35: He Says There&#8217;s Only One Reason He Didn&#8217;t</a>



There are plenty of examples of people who have sold companies for billions of dollars, but didn&#8217;t&nbsp;end up with nearly as much profit as you would think, Cuban said: &#8220;They own 2% of the company, when it was all said and done.&#8221;



Fresh out of college, Cuban founded&nbsp;software consulting business&nbsp;MicroSolutions. He sold the company for $6 million by the time he turned 32, pocketing around $2 million in profit.



A few years later, he bought a small audio network startup and turned it into Broadcast.com, which he went on to sell to Yahoo!&nbsp;<a href="https://www.benzinga.com/news/23/02/31092598/mark-cuban-celebrates-closing-5-7b-deal-with-middle-seat-flight-to-vegas-this-is-just-perfect-1">for $5.7 billion</a>.



&#8220;If you look at people with a B next to their name, it's because they own all that equity in their company,&#8221;&nbsp;Cuban said.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/startups/24/11/41869153/mark-cuban-reveals-regrettable-shark-tank-deal-that-drives-him-crazy-was-a-chocolate-covered-pretzel-company-who-offered-free-shipping">Mark Cuban Reveals Regrettable Shark Tank Deal That &#8216;Drives Him Crazy&#8217; Was A Chocolate Covered Pretzel Company Who Offered Free Shipping</a></li>
</ul>



Some elements of this story were previously reported by Benzinga and it has been updated.



Photo: courtesy of ABC.

Entrepreneurship

General

Mark Cuban Says Most Entrepreneurs Make The Same Critical Mistake When Starting A Business

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.



The major indexes, which had been climbing following Trump&#8217;s election victory, lost momentum this week, with the S&amp;P 500 down 2.1%, the Nasdaq dropping 3.2%, and the Dow shedding 1.2%. 



October consumer inflation matched expectations, but producer inflation exceeded forecasts, sparking concerns about the sustainability of disinflation as the year closes. 



Investor sentiment weakened further after Federal Reserve Chair Jerome Powell made unexpectedly hawkish comments, emphasizing the Fed&#8217;s cautious approach and lack of urgency to reduce interest rates. As a result, market expectations for a December rate cut have significantly decreased, leaving traders uncertain <a href="https://www.benzinga.com/etfs/24/11/42018463/trumps-post-election-rally-fades-dollar-surges-to-over-1-year-highs-powell-puts-december-interest-rate-cut-into-question-this-week-in-the-market">about the Fed's next steps.</a>



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.



<h3 class="wp-block-heading">The Bulls</h3>



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">Trump Plans To Erase EV Tax Credit: Tesla Analyst Says It&#8217;s &#8216;Net Bullish,&#8217; Calls Sell-Off &#8216;Wrong Knee-Jerk Reaction&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, discusses Donald Trump&#8217;s plan to end the $7,500 EV tax credit, which initially caused a sell-off in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares. However, Wedbush analyst Dan Ives sees it as a &#8220;net bullish&#8221; move for Tesla long-term, with minimal impact due to the company's strong market position.



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41897397/bitcoin-to-peak-between-100k-150k-solana-to-top-600-this-cycle-say-hedge-funds-vcs">Bitcoin To Peak Between $100K-150K, Solana To Top $600 This Cycle, Say Hedge Funds, VCs</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a> reveals predictions from venture capital and hedge fund managers that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could peak at $150,000 and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) at $600 this bull cycle, reflecting tempered optimism amid recent market volatility.



&#8220;<a href="https://www.benzinga.com/general/sports/24/11/42015289/disney-q4-report-had-a-lot-to-like-analyst-calls-it-a-high-quality-profit-growth-performer">Disney Q4 Earnings Show &#8216;A Lot To Like&#8217;: Analyst Calls It &#8216;High-Quality&#8217; Profit Growth Performer</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) exceeding Q4 direct-to-consumer profit estimates and unveiling multi-year guidance, prompting analysts like Guggenheim&#8217;s Michael Morris to raise price targets, citing double-digit EPS growth expected by 2026.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/analyst-ratings/price-target/24/11/41884655/bank-of-america-predicts-positive-stock-re-rating-for-wells-fargo-after-asset-cap-removal">Bank Of America Predicts Positive Stock Re-Rating For Wells Fargo After Asset Cap Removal</a>



<a href="https://www.benzinga.com/24/11/41890600/anthony-scaramucci-optimistic-of-a-us-strategic-bitcoin-reserve-trumps-victory-accelerated-the-cycle">Anthony Scaramucci Optimistic On US Strategic Bitcoin Reserve: &#8216;Trump&#8217;s Victory Accelerated The Cycle&#8217;</a>



<a href="https://www.benzinga.com/news/earnings/24/11/41991912/sam-altman-backed-oklo-reports-q3-earnings-momentum-is-building-every-week">Sam Altman-Backed Oklo Reports Q3 Earnings: &#8216;Momentum Is Building Every Week&#8217;</a>



The Bears



&#8220;<a href="https://www.benzinga.com/24/11/41932146/spirit-airlines-shares-plunge-nearly-63-after-hours-as-it-delays-q3-results-mulls-equity-cancellation">Spirit Airlines Nears Bankruptcy, Creditors May Approve Equity &#8216;Cancellation:&#8217; Here&#8217;s What It Means For Investors As Shares Fall With A Thud</a>,&#8221; by <a href="https://www.benzinga.com/author/rishabhmishra-benzinga-com">Rishabh Mishra</a>, details Spirit Airlines Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) 63% share plunge after delaying Q3 earnings and entering restructuring talks, potentially canceling existing equity. 



&#8220;<a href="https://www.benzinga.com/etfs/specialty-etfs/24/11/41888750/gold-etf-hit-with-1-billion-outflow-investors-dump-safe-haven-asset-after-trump-win">Gold ETF Hit With $1 Billion Outflow: Investors Dump Safe Haven Asset After Trump Win</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, highlights a $1 billion outflow from SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) as investors shift from gold, citing expectations of a stronger dollar and economic growth under Donald Trump&#8217;s re-election, while Bitcoin gains popularity as &#8220;digital gold.&#8221;



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41986341/what-is-plug-powers-future-analysts-warn-of-cash-crunch-and-slow-hydrogen-market-growth">What Is Plug Power&#8217;s Future? Analysts Warn Of Cash Crunch And Slow Hydrogen Market Growth</a>,&#8221; by <a href="https://www.benzinga.com/author/lekha-gupta">Lekha Gupta</a>, highlights concerns over Plug Power Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) high cash burn and weak Q3 results, with analysts forecasting revenue below estimates for 2024 and 2025, despite potential DOE loan support and European hydrogen project backing.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/media/24/11/41941228/att-data-breach-exposes-50-billion-records-hackers-identified-ransom-paid">AT&amp;T Data Breach Exposes 50 Billion Records: Hackers Identified, Ransom Paid</a>



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41880110/solar-renewables-stocks-crash-after-trump-win-should-you-buy-now-at-cheap-valuations">Solar, Renewables Stocks Crash After Trump Win: Should You Buy Now At Cheap Valuations?</a>



<a href="https://www.benzinga.com/trading-ideas/movers/24/11/41902202/trumps-china-hawks-rumored-for-top-roles-yuan-hits-3-month-low">Chinese Currency Hits 3-Month Low: Trump&#8217;s Anti-China Cabinet Appointments Rattle Investors</a>



Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.



Image created using artificial intelligence via Midjourney.

Cryptocurrency

Equities

Long Ideas

Short Ideas

Trading Ideas

$BTC

$SOL

PLUG

SAVE

TSLA

Benzinga Bulls And Bears: Tesla, Disney, Gold — And Hedge Funds Project Bitcoin To Hit $100K-$150K

<h2 class="wp-block-heading">Man Sentenced To 12 ½ Years For Bitcoin Money Laundering On The Darknet&nbsp;</h2>



Roman Sterlingov was sentenced <a href="https://www.justice.gov/opa/pr/bitcoin-fog-operator-sentenced-money-laundering-conspiracy">last Friday</a> to 12 years and six months in prison for his operation of the longest-running Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) money laundering service on the darknet. 



Sterlingov was also ordered to pay a forfeiture money judgment in the amount of $395,563,025.39 and forfeiture of seized cryptocurrencies and monetary assets valued at approximately $1.76 million. Additionally, he was ordered to forfeit his interest in the Bitcoin Fog wallet, totaling approximately 1,345 bitcoin and currently valued at more than $103 million.



Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a>



According to court documents and evidence presented at trial, from 2011 through 2021, Sterlingov was involved in operating Bitcoin Fog, the darknet's longest-running cryptocurrency "mixer." Bitcoin Fog became known as a money laundering service for criminals and processed transactions involving over 1.2 million bitcoin, valued at approximately $400 million at the time the transactions occurred.&nbsp;



"Roman Sterlingov ran the longest-running bitcoin money laundering service on the darknet, and today he paid the price," said Deputy Attorney General Lisa Monaco.&nbsp;



"In the deepest corners of the internet, he provided a home for criminals of all stripes, from drug traffickers to identity thieves, to store hundreds of millions of dollars in illicit proceeds," Monaco said.&nbsp;



<h2 class="wp-block-heading">Man Pleads Guilty To Conspiracy To Launder Cryptocurrency Scam Proceeds</h2>



Daren Li, a dual citizen of China and St. Kitts and Nevis, pleaded guilty <a href="https://www.justice.gov/opa/pr/foreign-national-pleads-guilty-laundering-millions-proceeds-cryptocurrency-investment-scams">on Tuesday </a>to one count of conspiracy to commit money laundering for his role in a scheme to launder millions of dollars in proceeds of cryptocurrency investment scams.



According to court documents, Li admitted that he conspired with others to launder funds obtained from victims through cryptocurrency scams and related fraud. Li instructed co-conspirators to open U.S. bank accounts on behalf of shell companies and would then monitor the receipt interstate and international wire transfers of victim funds.&nbsp;



Read More: <a href="https://www.benzinga.com/general/social-media/24/11/41993328/trump-media-insiders-sell-more-than-16-million-in-djt-stock">Trump Media Insiders Sell More Than $16 Million In DJT Stock</a>



Li and his co-conspirators received victim funds in financial accounts they controlled, and then monitor the conversion of victim funds to virtual currency, specifically Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), and the eventual distribution of the virtual currency to cryptocurrency wallets controlled by Li and his co-conspirators.



"Financial criminals and the money launderers who enable them wreak untold harm, ruining lives in the process," said United States Attorney Martin Estrada for the Central District of California.&nbsp;



"Investors should be diligent and on guard against anyone offering quick riches via new, exotic investments. A healthy dose of skepticism could prevent financial ruin down the road," Estrada said.&nbsp;



<h2 class="wp-block-heading">SEC Charges Invesco Advisers For Misleading Statements About ESG Investments</h2>



Last Friday, the Securities and Exchange Commission (SEC) charged Invesco Advisers, Inc. for making <a href="https://www.sec.gov/newsroom/press-releases/2024-179">misleading statements</a> about the percentage of company-wide assets under management that integrated environmental, social, and governance (ESG) factors in investment decisions.&nbsp;



According to the SEC's order, from 2020 to 2022, Invesco told clients and stated in marketing materials that between 70% and 94% of its parent company's assets under management were "ESG integrated." However, these percentages included a substantial amount of assets that were held in passive ETFs that did not consider ESG factors in investment decisions. The SEC's order also found that Invesco lacked any written policy defining ESG integration.



"As stated in the order, Invesco saw commercial value in claiming that a high percentage of company-wide assets were ESG integrated. But saying it doesn't make it so," said Sanjay Wadhwa, Acting Director of the SEC's Division of Enforcement.&nbsp;



"Companies should be straightforward with their clients and investors rather than seeking to capitalize on investing trends and buzzwords," Wadhwa added.&nbsp;



Invesco agreed to cease and desist from violations of the charged provisions, be censured and pay a $17.5 million civil penalty to settle the SEC's charges.&nbsp;



Read Next:&nbsp;



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</ul>



Image: NoName_13 from Pixabay

Legal

$USDT

Financial Crime Weekly: Darknet Money Laundering, Crypto Scams, Invesco Pays $17.5M SEC Penalty

After Donald Trump won the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">U.S. presidential election</a>, many Americans considered moving abroad. On Nov. 6, Google Trends showed a spike in searches from the United States for phrases like "moving abroad" and "foreign citizenship." Websites for expats – people who live outside their native country – have seen large jumps in traffic since the election.&nbsp;



Don't Miss:



<ul>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>



<li>The average American couple has saved this much money for retirement –<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>



<li><a href="https://www.benzinga.com/money/cd-valet-growth">CD Popularity Soars: Over 50 Million Americans Embrace Safe Savings with 5–10% Annual Growth</a></li>
</ul>



A survey from Casino.org, taken before the election, found about 20% of Americans would consider moving abroad if the election results were unfavorable. However, among those surveyed, 60% said they would be "very unlikely" to move and only 2.6% said they would be "very likely" to pack up and go.&nbsp;



For Americans contemplating the leap, <a href="https://www.benzinga.com/personal-finance/24/08/40429893/thinking-of-retiring-abroad-heres-the-expense-most-americans-regret-when-they-move">moving abroad</a> can be more than a romanticized escape – it's a substantial financial commitment. Costs vary greatly depending on the country, but potential expats need to factor in key expenses and legal requirements.



Casino.org's survey reveals the countries Americans most desire to move to postelection are Canada, the United Kingdom and Japan. Here's a closer look at what it would take to move to each destination.&nbsp;



Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do –<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>



<h2 class="wp-block-heading">Moving to Canada</h2>



With its proximity to the U.S. and cultural similarities, <a href="https://www.benzinga.com/24/11/41867032/trumps-tariff-plans-on-canadian-goods-would-inevitably-hurt-american-workers-warns-justin-trudeau">Canada</a> seems like a natural choice. There are a few primary visa options for Americans looking to move north. One is the Express Entry program, a points-based system targeting skilled workers. Applicants must qualify based on age, education, language proficiency (French) and work experience to be eligible. Application fees are around CAD 2,300 (USD 1,700) for a single applicant and CAD 4,500 (USD 3,200) for a couple.&nbsp;



Immigrants to Canada through Express Entry must also show they are financially stable and have sufficient funds in their bank accounts. For a single person, this amount is CAD 14,690 (USD 10,500).&nbsp;



Another visa option in Canada is the startup Visa Program, which requires a minimum investment and sponsorship by an approved organization. Without a visa, most Americans can stay in Canada for up to 180 days before they must leave.&nbsp;



Trending: <a href="https://www.benzinga.com/money/100k-cd">$100K Sitting In A CD Account, Should I Move Money Into The Stock Market?</a>



<h2 class="wp-block-heading">Leaving for the UK</h2>



The United Kingdom, another popular destination, has complex visa fees and regulations. U.S. citizens can stay in the UK for up to six months without a visa. Beyond that, Americans looking to move permanently must apply for a work visa if they have a job offer from a UK-based employer or try for a student visa if they are pursuing education.&nbsp;



The visa application fee for skilled workers starts at around £719 (USD 910), with additional costs for health care coverage under the Immigration Health Surcharge, which runs around £1,035 (USD 1,310) per year. Those without job offers may find the Global Talent Visa appealing, especially if they are leaders in science or the arts. The UK has no straightforward retirement visa for retirees, making it difficult for those no longer working.



Trending: Many are using this retirement income calculator to check if they&#8217;re on pace –<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a>



<h2 class="wp-block-heading">Migrating to Japan</h2>



<a href="https://www.benzinga.com/government/regulations/24/11/41939018/japan-increases-semiconductor-funding-as-us-trade-policies-pressure-taiwan-semiconductor">Japan</a> presents unique options and challenges for Americans considering an international move. Americans can stay in Japan for up to 90 days without a visa. Japan offers a digital nomad visa that allows visitors to work remotely and stay for six months (with no extensions), though it has an annual income requirement of JPY 10 million (around USD 64,000).&nbsp;



For those wanting a longer-term stay, a work visa is generally required and they must have a job offer from a Japanese employer to obtain one.&nbsp;



<a href="https://www.benzinga.com/money/best-online-financial-advisors">Financial planning</a> for an international move is necessary regardless of destination. Beyond visa application fees, Americans should consider moving costs, whether shipping personal belongings or buying everything anew in their new location. Living costs vary by country – countries like the UK and Japan have higher living costs than many places in the U.S. and may require a larger financial cushion to get started.&nbsp;



Read Next:



<ul>
<li><a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a></li>



<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>

Personal Finance

After The Election, Americans Are Exploring Life Abroad – But What Are The Financial Costs?

An endorsement of Donald Trump by Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk angered some existing owners of vehicles made by the <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">electric vehicle company</a>.



People who are embarrassed to be driving Tesla vehicles after the 2024 election are buying bumper stickers to show their anger of the Trump endorsement.



What Happened: Tesla owners may <a href="https://www.benzinga.com/news/24/07/39804113/exclusive-elon-musk-is-burning-his-own-blue-bridges-by-donating-to-trump-says-market-expert">disagree with Musk</a> many times throughout the year, whether it's his posts on X, views on cryptocurrency or his recent increased political campaigning and funding.



The endorsement of Trump in the 2024 election may have been the final straw for some Tesla owners. While some Tesla owners may decide to sell their vehicle in protest and get a different vehicle, some are likely to keep the vehicle due to Tesla's advanced technology.



Those who love their Tesla vehicles, but are mad at Musk have turned to a solution of plastering anti-Elon Musk bumper stickers on their vehicle.



Matthew Hiller of Hawaii has a sticker business <a href="https://www.etsy.com/shop/MadPufferStickers">called </a>Mad Puffer Stickers on Etsy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>) that has been among the places where Tesla owners are turning after the election.



Hiller shared with <a href="https://heatmap.news/electric-vehicles/anti-elon-bumper-sticker-tesla">Heatmap </a>that the sticker business is his side hustle to a full-time job at an aquarium. As a fan of making fish stickers and other designs, Hiller used his personal experience of wanting to buy a Tesla in early 2023, but not agreeing with everything Musk stood for.



"When he bought Twitter, he started extreme censoring of information, taking verification marks off The New York Times and things like that to sow discontent, disinformation, and push his agenda. And it was ugly," Hiller said.



Hiller realized that there were likely many people who were now embarrassed to be driving their Teslas around.



"So I made the fist sticker, which said, ‘I bought this before we knew Elon was crazy.'"



Hiller printed up a small run and after a slow initial time to see some sales, the stickers went viral a couple of times. Eventually Hiller was selling five to seven stickers a day and some days he would sell 50 because of a picture going viral.



"And now, at this point, it's gone insane."



Hiller told Heatmap his sales have been "unbelievable" since the 2024 election.



After the election, Hiller said he sold between 250 and 300 in one day and said the sales have "been steady ever since."



"I can barely keep up."



You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five </a><a href="https://www.benzinga.com/general/space/24/11/42013739/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-43">stocks </a><a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">flying under the radar that deserve your attention.</a>



The sticker entrepreneur said he can barely keep up with the momentum and comes home from the aquarium to start packing stickers until night.



Hiller estimates that he's sold around 10,000 stickers since he started on Etsy and he is currently selling around 180 total stickers per day, a total that doesn't just include anti-Elon Musk stickers.



The most popular sticker sold by Hiller is the "I bought this before we knew Elon was crazy," which he said is by far the top seller. &nbsp;



Along with being a popular seller on Etsy, the anti-Musk bumper stickers are also among the top sellers on <a href="https://www.amazon.com/Tesla-Bumper-Sticker-Bought-Accessories/dp/B0C4KHKN4S/ref=zg_bs_g_268880011_d_sccl_3/142-4678181-8008934?psc=1">Amazon </a>with Hiller's most popular design ranked among the top five bumper stickers on the e-commerce site, sometimes hitting number one in the category.



"That's insane. People hate Elon more than they love Trump or Kamala?" Hiller added.



Read Next: 



<a href="https://www.benzinga.com/trading-ideas/24/11/41985486/if-tesla-stock-hits-all-time-highs-in-2025-will-it-be-driven-by-trump-musk-relationship-benzinga-readers-say-this">If Tesla Stock Hits All-Time Highs In 2025, Will It Be Driven By Trump-Musk Relationship? Benzinga Readers Say This</a>

Success Stories

ETSY

Tesla Owners Who Don't Like Musk Are Letting Bumper Stickers Do The Talking

Sean Parker, the Napster co-founder and Facebook's (now called Meta Platforms) first president, has reached $3 billion in net worth, as <a href="https://www.forbes.com/profile/sean-parker/">per</a> Forbes.



A teenage hacker turned billionaire entrepreneur, Parker's career spans revolutionary tech ventures, philanthropy, and political donations.



A defining quote from him encapsulates his entrepreneurial mindset: &#8220;Your biggest challenge as an entrepreneur is not concealing your idea from others or keeping your idea secret. It's actually convincing people that you're not crazy and that you can pull it off.&#8221;



Here&#8217;s a look at his journey:



Early Days: From Hacker To Napster



Born in Herndon, Virginia, Parker's journey began with hacking. By his teenage years, he had broken into systems of universities and Fortune 500 companies, though this led to community service after an FBI investigation.&nbsp;



At 19, he <a href="https://www.benzinga.com/news/12/06/2644261/facebook-and-napster-men-to-launch-airtime">co-founded Napster with</a> Shawn Fanning in 1999, a file-sharing platform that revolutionized music consumption. Despite its eventual shutdown after lawsuits, Napster cemented Parker's reputation as a tech innovator.



See Also: <a href="https://www.benzinga.com/markets/24/11/41997920/if-you-dropped-1000-on-spotify-when-joe-rogans-show-became-an-exclusive-heres-how-much-youd-have-today">If You Dropped $1,000 On Spotify When Joe Rogan&#8217;s Show Became An Exclusive, Here&#8217;s How Much You&#8217;d Have Today</a>



Facebook And Beyond



In 2004, Parker <a href="https://www.benzinga.com/media/17/11/10754929/sean-parker-on-social-media-god-only-knows-what-its-doing-to-our-childrens-brai">joined Facebook as its first president</a> at age 24. He was pivotal in securing early investments and shaping the platform's trajectory.



Parker's early 4% stake in Facebook skyrocketed in value after the company's IPO in 2012, solidifying his financial standing.



Despite stepping down in 2005 following a controversial arrest, Parker's influence on Facebook persisted.



Beyond Facebook, Parker's investments have been instrumental in maintaining his fortune. In 2010, he invested $15 million in a 5% stake in Spotify Inc. and <a href="https://www.benzinga.com/news/24/10/41137657/spotify-ceo-daniel-ek-says-he-stays-away-from-sports-competition-with-facebook-co-founder-mark-zucke">served on its board until 2017</a>.



Earlier this year in June, he joined Stability AI, a generative AI company, as executive board chairman, signaling his continued belief in transformative technologies.



Philanthropy And Political Impact



Now 44, Parker channels his wealth into philanthropy and politics. In 2015, he launched the Parker Foundation with $600 million to support life sciences, global health, and civic engagement.



Notable initiatives include the Parker Institute for Cancer Immunotherapy and funding for allergy research at Stanford.



Politically, Parker has donated millions to candidates across party lines and played a key role in the Opportunity Zones provision of the 2017 Jobs Act to boost investment in underprivileged U.S. communities.



Lavish Lifestyle And Cultural Impact



Parker is known for his extravagant lifestyle, including properties worth over $100 million, and his Tolkien-themed wedding in 2013, which cost $4.5 million.



Despite criticism over its ecological impact, the event underscored his penchant for luxury.



Hollywood also immortalized Parker's influence. Justin Timberlake portrayed him in "The Social Network," though Parker dismissed the character as a fictional exaggeration.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/11/41941113/these-analysts-increase-their-forecasts-on-spotify-following-q3-earnings" target="_blank" rel="noreferrer noopener">These Analysts Increase Their Forecasts On Spotify Following Q3 Earnings</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photo courtesy: Wikimedia

Sean Parker's Net Worth Touches $3B: From Launching Napster To Becoming Facebook Billionaire, The Story Of Teenage Hacker Turned Entrepreneur

Cathie Wood, CEO of ARK Invest, has publicly backed Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Elon Musk's appointment to lead the <a href="https://www.benzinga.com/topic/department-of-government-efficiency">Department of Government Efficiency (DOGE)</a>.



What Happened:&nbsp;In an <a href="https://www.cnbc.com/video/2024/11/15/watch-cnbcs-full-interview-with-ark-invest-ceo-cathie-wood.html">interview</a> with CNBC on Friday, Wood said that Musk's understanding of technology and data will be key in his new role at DOGE.



DOGE, named after the cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), aims to minimize waste, eliminate unnecessary regulations, and reorganize agencies to enhance efficiency.



See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42010539/whats-going-on-with-palantir-technologies-stock-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Palantir Technologies Stock Today?</a>



Wood stated that Musk's companies, including X, formerly Twitter, Neuralink, and SpaceX, gather vast amounts of data, putting him in a unique position to improve government operations.



&#8220;The way we're looking at this is, Elon understands we are at the threshold of a convergence among many technologies,&#8221; she stated.



Adding, &#8220;AI being at the center of it, and proprietary data is winning. So he has more proprietary data from all of these companies than I think any other CEO.&#8221;



Musk, who was appointed by President-elect Donald Trump, will spearhead the commission aimed at reducing the U.S. federal budget, to cut up to $2 trillion.



Vivek Ramaswamy, a former Republican primary candidate, will co-direct the group with Musk.



Why It Matters:&nbsp;On Thursday, the official X, formerly Twitter, account of DOGE called for high-IQ candidates willing to <a href="https://www.benzinga.com/news/24/11/41998717/elon-musk-and-vivek-ramaswamy-are-looking-for-high-iq-small-government-revolutionaries-who-are-willing-to-put-in-80-hours-at-doge">work 80+ hours a week</a> to streamline government spending and cut bureaucracy.



This criterion is similar to Musk's well-known 2022 late-night email to Twitter employees, where he encouraged them to be "extremely hardcore" and commit to "long hours at high intensity."



However, analysts have warned that Musk&#8217;s efficiency plans should not be underestimated, but it will <a href="https://www.benzinga.com/news/24/11/41961033/gene-munster-says-elon-musks-doge-efficiency-plans-should-not-be-underestimated-but-warns-itll-likely-take-many-years-to-achieve-2-trillion-in-government-spending">likely take many years</a> to achieve $2 trillion in government spending cuts.



Trump has previously stated that the work of the DOGE department is expected to be completed by July 4, 2026, at the latest.



Price Action: Dogecoin is currently priced at $0.378, reflecting a 4.14% rise in the last 24 hours. However, its trading volume has dropped by 37.06%, reaching $10.12 billion as of this writing.



Tesla shares closed Friday's trading up 3.07%, ending at $320.72. In after-hours trading, the stock saw a slight increase, reaching $320.74 at the time of writing, according to&nbsp;<a href="https://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.



Read Next:



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<li><a href="https://www.benzinga.com/markets/equities/24/11/41938105/bitcoin-proxy-microstrategy-director-sells-40k-company-shares-worth-12m-as-stock-hits-all-time-high?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Proxy MicroStrategy Director Sells 40K Company Shares Worth $12M As Stock Hits All-Time High</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photo courtesy: World Economic Forum

Politics

Media

$DOGE

Cathie Wood Backs Elon Musk's $2 Trillion DOGE Initiative, Says Tesla CEO's Access To 'Proprietary Data' And AI Gives Him An Edge

The United States has agreed to provide up to $6.6 billion in direct funding to Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) to build advanced chip facilities in the U.S.



The deal aims to enhance domestic semiconductor production and bolster national security by reducing reliance on foreign suppliers, Barron's <a target="_blank" href="https://www.barrons.com/news/us-finalizes-up-to-6-6-bn-funding-for-chip-giant-tsmc-65252814" rel="noreferrer noopener">reports</a>.



The Biden administration announced that Taiwan Semiconductor's investment will attract $65 billion in private capital to establish three state-of-the-art plants in Arizona.



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The announcement comes just before President-elect Donald Trump assumes office. Trump had previously attacked Taiwan for allegedly undermining the U.S. chip industry and <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41845483/taiwan-semiconductor-us-expansion-plans-unfazed-by-trump-win-report" rel="noreferrer noopener">criticized the U.S. Chips Act</a>.



The first of Taiwan Semiconductor's facilities will likely commence operations by early 2025, focusing on producing cutting-edge logic chips. These chips will power next-generation technologies, including 5G/6G smartphones, autonomous vehicles, and AI applications.



Early production at the Arizona plant reportedly matches the quality of Taiwan Semiconductor's facilities in Taiwan, showcasing <a target="_blank" href="https://www.benzinga.com/government/24/10/41545709/usa-scores-big-win-taiwan-semiconductor-arizona-plant-sees-good-production-yields" rel="noreferrer noopener">strong initial yields</a>.



Commerce Secretary Gina Raimondo told Barron's the importance of manufacturing these advanced chips domestically, emphasizing their role in AI, quantum computing, and military hardware.



The initiative aims to mitigate risks associated with overseas supply chains by producing these chips on U.S. soil, addressing a critical national security concern.



Trending: ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a>



In addition to the direct funding, the U.S. government is extending up to $5 billion in proposed loans to support Taiwan Semiconductor's Arizona project.



The investment will likely generate approximately 6,000 direct manufacturing jobs. A senior U.S. official told Barron's that at least $1 billion of the allocated funding could be distributed to Taiwan Semiconductor this year, contingent on meeting specific milestones.



Meanwhile, Taiwan Semiconductor remains focused on consolidating its moat while diversifying its footprint beyond Taiwan as global governments dole out attractive subsidies.



The contract chipmaker has <a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/24/11/41951575/taiwan-semi-boosts-advanced-chipmaking-with-record-euv-expansion-grabs-56-global-share" rel="noreferrer noopener">ramped up its</a> deployment of extreme ultraviolet (EUV) lithography systems, a vital technology in semiconductor production, even with the substantial expense involved.



Each EUV machine costs more than $100 million, making them some of the most costly assets in the chip manufacturing sector.



Industry analysts suggest that TSMC has significantly boosted its EUV capacity, increasing its share of global EUV installations from 50% in 2020 to 56% by 2023.



In Asia, Japan has also earmarked over $64.9 billion to <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41939018/japan-increases-semiconductor-funding-as-us-trade-policies-pressure-taiwan-semiconductor" rel="noreferrer noopener">boost the semiconductor and AI</a> sectors. Taiwan Semiconductor is eyeing a second facility in Japan's Kumamoto region, considering a $13.5 billion investment after its first $8.6 billion wafer factory there.



Additionally, the company intends to establish a third advanced chip plant valued at $20 billion in Kumamoto to produce 3-nanometer chips.



Taiwan Semiconductor stock is up 86% year-to-date.



Price Actions: TSM stock is down -2.57% at $186.01 at the last check on Friday.



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Image via Shutterstock

Government

Regulations

Just Before Biden's Term Ends, Taiwan Semiconductor Lands $6.6 Billion in US Funding to Build Advanced Chip Plants

Ark Invest CEO Cathie Wood has been a vocal bull for the cryptocurrency sector for years, specifically for leading cryptocurrency Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), which she recently said could be helped by the incoming <a href="https://www.benzinga.com/24/11/41928272/cathie-woods-ark-invest-foresees-crypto-industry-boost-under-incoming-trump-administration">White House administration</a>.



Wood has shared price targets for Bitcoin over the years, including a high of $3.8 million for BTC by the year 2030. Here's a look at how much a small investment in Bitcoin today could increase over time if Wood's various price targets are reached in the future.



Following Wood Into Bitcoin: With Bitcoin<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778425/bitcoins-all-time-high-a-groundbreaking-milestone-and-strong-post-election-rally-coming-ex"> hitting all-time highs </a>after the 2024 presidential election, big questions remain about how high the leading cryptocurrency can go and how long it will take to reach various milestones like $100,000.



Earlier this year, Wood laid out <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/02/30660447/cathie-woods-ark-sees-bitcoin-joining-trillion-dollar-club-by-2030-here-are-its-bea">her price targets </a>for Bitcoin based on a bear case, base case and bull case for the year 2030. Wood also added a new bull case that includes the potential highest price Bitcoin <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37902973/cathie-wood-says-bitcoin-could-skyrocket-to-3-8m-by-2030-thanks-to-institutional-gr">could reach by 2030</a> if companies allocated 5% to Bitcoin.



With Bitcoin trading at $89,384.76 at the time of writing, an investor could buy 0.00112 BTC today with $100. Here is a look at how much that $100 would be worth in the future under Wood's various price targets.



<ul>
<li>Bear Case, $258,500: $100 today would be worth $289.52, up 189.5%</li>



<li>Base Case, $682,000: $100 today would be worth $763.84, up 663.8%</li>



<li>Bull Case, $1,480,000: $100 today would be worth $1,657.60, up 1,557.6%</li>



<li>Bullish Case, $3,800,000: $100 today would be worth $4,256.00, up 4,156.0%</li>
</ul>



As you can see, a small investment would turn into a sizable return if Wood&#8217;s base or bullish predictions come true. Even the bearish price target hitting would more than double the investment from today.



While there&#8217;s no guarantee that any of the price targets will hit, the exercise shows how a small investment in cryptocurrency could add up over time.



Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/23/08/34028505/exclusive-why-does-cathie-wood-think-bitcoin-is-going-to-1-million-what-does-she-know-that">EXCLUSIVE: Why Does Cathie Wood Think Bitcoin Is Going To $1 Million — What Does She Know That We Don&#8217;t?</a>



What's Next: Wood recently reiterated her price targets in a CNBC <a href="https://x.com/BitcoinMagazine/status/1857483221857865879">interview </a>while highlighting how Ark Invest was early to investing in Bitcoin.



"We were the first public asset manager to gain exposure to Bitcoin in 2015 at $250," Wood said.



Wood said that even with Bitcoin trading around $90,000, the company believes there is a long way to go.



The fund manager said that getting regulatory relief with a new administration is one of the most important things for Bitcoin. Wood also sees Bitcoin being viewed as a new asset class, leading to more institutions and asset allocators wanting to invest in the top cryptocurrency.



Wood&#8217;s Ark Invest <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36605838/ark-invest-ceo-cathie-wood-projects-a-single-bitcoin-could-be-worth-1-5m-by-2020-probabili" target="_blank" rel="noreferrer noopener">was also one of several companies&nbsp;</a>to have a Bitcoin ETF approved by the SEC with its&nbsp;Ark 21 Shares Bitcoin ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>).



Wood's most recent $3.8 million price target might be one of the biggest from a fund manager and among the most bullish bets on cryptocurrency. The target came from the approval and early success of Bitcoin ETFs earlier this year.



&#8220;With this institutional green light that the SEC has provided, kicking and screaming though it did, the analysis we&#8217;ve done is that if institutional investors were to allocate a little more than 5% of their portfolios to bitcoin, as we think they will over time, that alone would add $2.3 million to the projection I just gave you,&#8221; Wood said.



Adding $2.3 million to the $1.5 million leads to a new price target of $3.8 million for 2030.



The approval of<a href="https://www.benzinga.com/topic/bitcoin-etf" target="_blank" rel="noreferrer noopener"> the Bitcoin ETFs </a>led Wood to say in an interview that &#8220;the probability of the bull case has increased.&#8221;



Wood and Ark Invest aren't just betting on the success of Bitcoin with its cryptocurrency holdings and the ETF, the company is also investing in crypto-related companies.



The flagship Ark Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) <a href="https://www.ark-funds.com/funds/arkk" target="_blank" rel="noopener">has </a>Coinbase Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) as its third-largest holding, accounting for 9.5% of its assets. Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) is the fund's sixth-largest holding, accounting for 5.0% of its assets.



Bitcoin hit an all-time high of $93,434.36 on Nov. 13, one of several records set after the 2024 election.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41951961/bitcoin-to-100k-benzinga-readers-predict-if-btc-can-hit-new-milestone-before-end-of-2024">Bitcoin To $100K? Benzinga Readers Predict If BTC Can Hit New Milestone Before End Of 2024</a></li>
</ul>



This article was previously published by Benzinga and has been updated.



Image created using a photos courtesy of Ark Invest and Shutterstock.

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