Global Stocks Recap: Alibaba, Saab, Burberry, GSK
↘️ GSK (GSK): A FDA committee voted against approving GSK's Blenrep drug, a setback for its bid to reintroduce the blood-cancer treatment in the U.S. Shares dropped 4.6% in London.
↗️ Alibaba (BABA): The Chinese-commerce giant rose 2.9% in Hong Kong. Chinese technology stocks got a boost this week from President Trump clearing Nvidia to sell H20 chips in the country, as well as robust GDP data.
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18 minutes ago
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Thinking of Buying Apple Stock? You Need to Hear What Google's CEO Just Said.
Key Points Google's CEO thinks cellphones will be at the center of consumer experiences for "the next two to three years at least." The timeline for when cellphones might be replaced is critical for Apple investors. Apple CEO Tim Cook might provide hints at his company's post-iPhone strategy in the quarterly update on July 31. 10 stocks we like better than Apple › Apple (NASDAQ: AAPL) is scheduled to announce its fiscal year 2025 third-quarter results on Thursday, after the market closes. Investors will almost certainly focus more on what management says during the earnings call than they do the Q2 results themselves. But if you're thinking about buying Apple stock, there's another earnings call to which you might want to pay attention. Google parent Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) provided its second-quarter (Q2) update last week. And anyone considering investing in Apple needs to hear what Google's CEO -- who is also Alphabet's CEO -- just said. Parsing Pichai's comments During Alphabet's Q2 earnings call, an analyst referenced Google's partnership with Warby Parker (NYSE: WRBY) to develop AI glasses. He then asked Sundar Pichai, CEO of both Alphabet and Google, if he could picture a scenario where cellphones aren't central to people's experience. Pichai's answer was interesting. He first noted that AI will "drive new experiences" and will "spur a whole new wave of innovation." He said that Google is "super excited" about its investment in AI glasses. Pichai believes the devices will "be an exciting new emerging category." He then answered the question more directly. Pichai said, "But I still expect phones to be at the center of the experience for the next two to three years at least. And so I still think that's going to be -- phones would continue to be at the center of the consumer experience. But we are excited about the emerging categories as well." I think Pichai's comments are similar to a Rorschach test, a psychological assessment where subjects look at inkblots and describe what they see. Some could focus more on the Google CEO's inclusion of the words "at least." They could interpret his remarks as good news for Apple, since they imply there will be no existential threat to the iPhone for at least a few years and perhaps much longer. Others, though, might note that Pichai used a relatively short time frame as his baseline ("two to three years") instead of a decade or longer. This perspective implies that the days of the iPhone being at the center of the consumer experience are limited, regardless of exactly how long Apple's top product has left. Why it's important for investors now Why is what Google's CEO said important for Apple investors now? As the top executive of one of the leading developers of both smartphones and AI glasses, Pichai arguably has better insights than most into what might happen in both markets. More importantly, Apple's fortunes currently hinge on its iPhone ecosystem. Any threat to the iPhone, especially one that could conceivably be as imminent as two or three years away, could change the dynamics related to owning Apple stock. In Apple's fiscal 2025 first quarter, iPhone sales made up 49% of total net sales. However, the product's impact is even greater than that. A significant portion of services revenue, which comprised almost 28% of total sales, came from iPhone users. Part of the nearly 8% of total sales generated by wearables, home, and accessories stemmed from Apple Watches, which connect Pichai didn't sound an alarm as loudly as some industry observers have. However, his comments nonetheless underscore the critical need for Apple to successfully navigate the transition from smartphones to the next new thing -- whatever it may be and whenever it may arrive. Listen to what Tim Cook says, too When Apple gives its quarterly update later this week, you'll probably hear some people talk a lot about how the company is handling the Trump administration's tariffs. Others might focus on whether or not new generative AI capabilities for Apple Intelligence will move the needle. While those are key short-term issues, I think the most important thing to listen for is anything related to Apple's strategy for new devices, especially AI glasses. To be sure, the company's management team rarely reveals many details until they're ready to launch a new product. However, whether or not it makes sense to buy Apple stock right now depends heavily on the company's post-iPhone strategy. I predict that Apple will be able to develop AI glasses that consumers love. I fully expect the company will remain successful for a long time to come. But investors should pay attention to what Apple CEO Tim Cook and other executives say (and don't say) about what might come after the iPhone. It could be important to Apple's investment thesis. Should you invest $1,000 in Apple right now? Before you buy stock in Apple, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Apple wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 28, 2025 Keith Speights has positions in Alphabet and Apple. The Motley Fool has positions in and recommends Alphabet and Apple. The Motley Fool recommends Warby Parker. The Motley Fool has a disclosure policy. Thinking of Buying Apple Stock? You Need to Hear What Google's CEO Just Said. was originally published by The Motley Fool Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
18 minutes ago
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More than $360 million in CFPB consumer payouts 'at risk,' consumer groups say
WASHINGTON (Reuters) -The reversal of dozens of enforcement actions by the U.S. Consumer Financial Protection Bureau has jeopardized more than $360 million in compensation to consumers allegedly harmed by financial companies, according to an analysis released Tuesday by pro-consumer organizations. The compensation relates to allegations of predatory practices by lenders, student loan servicers, money transfer businesses and others pursued by the CFPB in recent years. The latest estimate from the Consumer Federation of America and Student Borrower Protection Center adds to what critics of President Donald Trump's administration say is the mounting cost to ordinary people from his clampdown on the CFPB. The two organizations also said last month that the CFPB's rollback of regulations on overdraft and credit card late fees and the dismissal of enforcement cases would increase consumer costs by $18 billion. The CFPB's current leaders have said they are changing the agency's focus and have criticized prior enforcement actions as politicized and unfair attacks on free enterprise. The agency now says it can meet its obligations under the law with about 90% fewer employees. According to the analysis released Tuesday, recent CFPB actions to revise or cancel consumer payouts due from settlements dating back as far as 2023 with Navy Federal Credit Union, the lending arm of Toyota, National Collegiate Student Loan Trusts and the money transfer company Wise together account for more than $120 million. The authors, former top CFPB officials Eric Halperin and Allison Preiss, say these reversals cast doubt on dozens of other prior cases involving more than $244 million in further consumer payouts that the CFPB may have yet to approve or process, such funds arising from actions against Cash App parent Block and student loan processor Navient. Congress created the CFPB following the 2008 financial crisis to protect consumers from unfair, deceptive or abusive practices. A federal appeals court in Washington has yet to decide on the legality of the CFPB's attempt this year to dismiss the vast majority of its staff. Sign in to access your portfolio
Yahoo
18 minutes ago
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Who wants to be a millionaire? 1 in 10 Americans already is but the status loses its luster
NEW YORK (AP) — As a child, Heidi Barley watched her family pay for groceries with food stamps. As a college student, she dropped out because she couldn't afford tuition. In her twenties, already scraping by, she was forced to take a pay cut that shrunk her salary to just $34,000 a year. But this summer, the 41-year-old hit a milestone that long felt out of reach: She became a millionaire. A surging number of everyday Americans now boast a seven-figure net worth once the domain of celebrities and CEOs. But as the ranks of millionaires grow fatter, the significance of the status is shifting alongside perceptions of what it takes to be truly rich. 'Millionaire used to sound like Rich Uncle Pennybags in a top hat,' says Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors, a wealth management firm in El Segundo, California. 'It's no longer a backstage pass to palatial estates and caviar bumps. It's the new mass-affluent middleweight class, financially secure but two zeros short of private-jet territory.' Inflation, ballooning home values and a decades-long push into stock markets by average investors have lifted millions into millionairehood. A June report from Swiss bank UBS found about one-tenth of American adults are members of the seven-digit club, with 1,000 freshly minted millionaires added daily last year. Thirty years ago, the IRS counted 1.6 million Americans with a net worth of $1 million or more. UBS — using data from the United Nations, World Bank, International Monetary Fund and central banks of countries around the globe — put the number at 23.8 million in the U.S. last year, a nearly 15-fold increase. The expanding ranks of millionaires come as the gulf between rich and poor widens. The richest 10% of Americans hold two-thirds of household wealth, according to the Federal Reserve, averaging $8.1 million each. The bottom 50% hold 3% of wealth, with an average of just $60,000 to their names. Federal Reserve data also shows there are differences by race. Asian people outpace white people in the U.S. in median wealth, while Black and Hispanic people trail in their net worth. Barley was working as a journalist when her newspaper ended its pension program and she got a lump-sum payout of about $5,000. A colleague convinced her to invest it in a retirement account, and ever since, she's stashed away whatever she could. The investments dipped at first during the Great Recession but eventually started growing. In time, she came to find catharsis in amassing savings, going home and checking her account balances when she had a tough day at work. Last month, after one such day, she realized the moment had come. 'Did you know that we're millionaires?' she asked her husband. 'Good job, honey,' Barley says he replied, unfazed. It brought no immediate change. Like many millionaires, much of her wealth is in long-term investments and her home, not easy-to-access cash. She still lives in her modest Orlando, Florida, house, socks away half her paycheck, fills the napkin holder with takeout napkins and lines trash cans with grocery bags. Still, Barley says it feels powerful to cross a threshold she never imagined reaching as a child. 'But it's not as glamorous as the ideas in your head,' she says. All wealth is relative. To thousandaires, $1 million is the stuff of dreams. To billionaires, it's a rounding error. Either way, it takes twice as much cash today to match the buying power of 30 years ago. A net worth of $1 million in 1995 is equivalent to about $2.1 million today, according to the U.S. Bureau of Labor Statistics. A seven-figure net worth is, to some, as outdated a yardstick as a six-figure salary. Nonetheless, 'millionaire' is peppered in everything from politics to popular music as shorthand for rich. 'It's a nice round number but it's a point in a longer journey,' says Dan Uden, a 41-year-old from Providence, Rhode Island, who works in information technology and who hit the million-dollar mark last month. 'It definitely gives you some room to breathe.' No other country comes close to the U.S. in the sheer number of millionaires, though relative to population, UBS found Switzerland and Luxembourg had higher rates. Kenneth Carow, a finance professor at Indiana University's Kelley School of Business, says commonalities emerge among today's millionaires. The vast majority own stocks and a home. Most live below their means. They value education and teach financial responsibility to their children. 'The dream of becoming a millionaire,' Carow says, 'has become more obtainable.' Jim Wang, 45, a software engineer-turned finance blogger from Fulton, Maryland, says even if hitting $1 million was essentially 'a non-event' for him and his wife, it still held weight for him as the son of immigrants who saved money by turning the heat off on winter nights. The private jets he envisioned as a kid may not have materialized at the million-dollar threshold, but he still sees it as a marker that brings a certain level of security. 'It's possible, even with a regular job,' he says. 'You just have to be diligent and consistent.' The resilience of financial markets and the ease of investing in broad-based, low-fee index funds has fueled the balances of many millionaires who don't earn massive salaries or inherit family fortunes. Among them is a burgeoning community of younger millionaires born out of the movement known as FIRE, for Financial Independence Retire Early. Jason Breck, 48, of Fishers, Indiana, embraced FIRE and reached the million-dollar mark nine years ago. He promptly quit his job in automotive marketing, where he generally earned around $60,000 a year but managed to stow away around 70% of his pay. Now, Breck and his wife spend several months a year traveling. Despite being retired, they continue to grow their balance by sticking to a tight budget and keeping expenses to $1,500 a month when they're in the U.S and a few hundred dollars more when they travel. Hitting their goal hasn't translated to luxury. There is no lawn crew to cut the grass, no Netflix or Amazon Prime, no Uber Eats. They fly economy. They drive a 2005 Toyota. 'It's not a golden ticket like it was in the past,' Breck says. 'For us, a million dollars buys us freedom and peace of mind. We're not yacht rich, but for us, we're time rich.' ___ Matt Sedensky can be reached at msedensky@ and Matt Sedensky, The Associated Press Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
