Apple shares cratered by roughly 9% after disappointing investors, wiping nearly half a trillion dollars from its market cap in what is on pace to be its largest one-day decline on record.
The tape WSJ Tech News Briefing · Jul 31
“The iPhone maker was recently down about $470 billion in market capitalization, on pace for its largest one-day market cap decline on record and the second largest of any US company.”
0:20 / --:--
Big Technology Podcast · Leopold Blows Up, OpenAI Drastically Cuts Prices, Microsoft’s Best DayJul 31
The GPT maker announced drastic price cuts and massive user growth this week, but with billions spent on development, the moves could "threaten profit margins" as it battles rivals.
Big Technology Podcast · Leopold Blows Up, OpenAI Drastically Cuts Prices, Microsoft’s Best DayJul 31
Leopold Dauschenbrenner's 'Situational Awareness' fund, which grew from millions to $20 billion in assets, has "effectively blew up," forcing a fire sale of its entire stock portfolio to Ken Griffin's Citadel.