Billionaire investor warns “The faster and higher things go up, the harder they fall” while talking about skyrocketed AI stocks, which will predictably lead to an inflationary economic slowdown

What you need to know DoubleLine Capital CEO Jeffrey Gundlach says the current AI wave reminds him of the dot-com era. The billionaire investor warns that the current market is grabby and momentum-driven, citing that the rush to invest in AI is a huge risk and will eventually accrue massive losses. The CEO attributed that […]

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Qualcomm is cutting over 1,200 jobs due to market slowdown

Qualcomm will cut 1,258 jobs in two offices in California, filings with the California Employment Development Department revealed. The chip company revealed 1,064 jobs will be eliminated in San Diego, where the HQ is, and 194 more in the Santa Clara offices. Qualcomm currently has over 51,000 employees, so it’s letting go 2.5% of its […]

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Samsung shuffles top-level chip business executives amid slowdown

Samsung has reportedly reshuffled top-level executives at its memory and foundry business arms. The chip industry is going through its worst phase right now, and Samsung’s memory division posted a loss for the first time in its history in Q1 2023. So, it is essential to notice how the company will tackle this issue. According […]

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Intel Reportedly Plans Thousands of Layoffs Amid PC Market Slowdown

Intel plans to slash its employee numbers by the thousands in a bid to cut costs in the face of the slowing global PC market, a new Bloomberg report has claimed. The company’s sales and marketing teams could see cuts affecting around 20% of staff, said the report, citing people with knowledge of the matter […]

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Tim Cook Says Apple Will Continue to Hire Employees in a ‘Deliberate Way’ After Reports of a Slowdown in Hiring

Apple CEO Tim Cook has said Apple will continue to hire employees but in a very “deliberate way,” following reports that the company had plans to slow down its pace of hiring amid fears of an economic recession. “We are making deliberate decisions about where to invest our money, but we’re continuing to hire, but […]

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iPhone Demand Remains High Despite Technology Market Slowdown, Say Analysts

iPhone demand this quarter has thus far remained “surprisingly resilient” despite the widespread supply chain issues and other factors affecting the tech industry, according to Wedbush analysts Daniel Ives and John Katsingris. Summing up their research findings in a new investor note, the market analysts said Apple’s flagship devices had been holding up well despite […]

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