Stock Movers: Apple, Tesla, Wells Fargo
On this episode of Stock Movers: - Apple (APPL) shares fell in premarket trading after Needham & Co cut its recommendation on the iPhone maker to hold from buy. Analyst Laura Martin downgraded the stock on near-term threats to revenue and EPS growth. "For this stock to work, it must have the catalyst of an iPhone replacement cycle, which we do not foresee in the next 12 months,' Martin wrote. - Tesla (TSLA) is also lower this morning as vehicle shipments from its China factory fell for an eighth straight month, extending a global sales slump as Chief Executive Officer Elon Musk pledges to renew his focus on the automaker. The EV maker shipped 61,662 Model 3 sedans and Model Y sport utility vehicles from its Shanghai plant in May, down 15% from the same time last year, according to preliminary data from China's Passenger Car Association. The group didn't provide a breakdown of domestic sales and exports. - Wells Fargo (WSC) shares are higher this morning as the bank was released from a Federal Reserve asset cap that has restricted its size for over seven years. The Fed said Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The removal of the cap marks a major win for CEO Charlie Scharf and allows the bank to pursue growth again, with plans to increase returns and growth in a deliberate manner.
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Forbes
7 hours ago
- Forbes
Tested: Tesla Model Y Juniper As Robotaxi
Here's some breaking news: the 2026 Tesla Model Y 'Juniper' with Full Self Driving is a robotaxi. Maybe Tesla can't call it that but that's what it is. And Waymo may have met its match. I had the 2026 Model Y for the 48-hour test drive (which Tesla just began offering) this past week in Los Angeles. The new Model Y, which hit Tesla stores in February, comes with Full Self-Driving (Supervised) version 13.2.9. But the fact that it's supervised didn't stop me from using it, in practice, unsupervised as a robotaxi, i.e., going door to door without intervention. As background, I've tested the Juniper Model Y FSD now three times: two test drives when it arrived at Tesla stores in March-April and now a 48-hour test drive. On most excursions it has gotten me door to door without intervention (see video below). That is, I just punch in the destination address and let the Model Y drive. I'm a passenger – not unlike Waymo, which I've also used many times in the Beverly Hills-West Hollywood area (more on Waymo comparison in video). Here's the short version. The new Model Y Juniper with version 13 of FSD is pretty damn close to a Tesla robotaxi and Waymo. Yes, I had to occasionally intervene but many trips in the vehicle are intervention-free = robotaxi. And, yes, it makes mistakes but so does Waymo. No FSD errors on the Model Y Juniper with v13.2.9 I've experienced have been dangerous or egregious. Mostly things like driving too slowly or taking a convoluted route to my destination (the latter is a mistake Waymo also makes). The Model Y with FSD version 13 is a vast improvement over the Model 3 I tested about a year ago. As just two examples, the Model Y took me from my home to a Supercharger location about 10 miles away intervention-free. I did nothing but sit there and witness the drive. At the end of the return trip, it took a route that I would not have chosen to take. But human taxi drivers do that too. It also took me to a Starbucks about 8 miles away intervention-free. That trip too was very similar, if not exactly the same as, what I've experienced in a Waymo Jaguar I-PACE in downtown Los Angeles. The only thing that I've found annoying is occasional speed limitations. On some short stretches of road near my home it slows to 25 mph and won't go faster unless I intervene. Tesla FSD is often compared unfavorably to Google's Waymo. That may have been true in the past. But not anymore. I use Waymo a lot in Los Angeles, as I said above. Though Waymo is amazing, it also makes mistakes. But its biggest shortcoming is its range limitations, i.e., geofencing (see this map). Los Angeles is a very big place and most of LA county is off limits to Waymo. Tesla's FSD doesn't have that problem. That is both a boon and a bane for Tesla – the latter because it's a huge challenge. But I see Tesla meeting the challenge in most cases. I will give Waymo this. In the geofenced area I use (Century City / Beverly Hills / West Hollywood) it is more refined and more confident than Tesla FSD. In some cases, more adept at avoiding and getting around obstacles. But Tesla is almost there. And, again, Tesla FSD has a huge advantage in that it is not limited to small restricted areas. I've spent a lot of time testing General Motors Super Cruise. As well as Ford's Bluecruise and Rivian's Highway Assist. Super Cruise does what it says it does. It very competently takes over the driving duties on the highway. But it ain't Tesla FSD. It won't do local roads. It's not a robotaxi. And that's the bottom line. FSD is not foolproof or flawless. And a Bloomberg story this week makes that clear. In that case, an older version of FSD was blinded by the sun, resulting in fatalities. And I've been in a Tesla when FSD missed seeing a community gate, which, without intervention, would have resulted in an accident. That was in a previous version of FSD. But it doesn't mean it can't happen again. That said, GM's SuperCruise, based on my experience, also makes the rare risky mistake. As do other ADAS (Advanced Driver Assist System) from other EV manufacturers that I've tested. Over the past year, I've tested ADAS on EVs from General Motors (Super Cruise), Rivian (Highway Assist), Ford (Bluecruise), and Tesla. My take is that the benefits of an ADAS outweigh the risks. In 2024, there were 39,345 US traffic fatalities. Needless to say, practically all involved human drivers. And that increasingly means distracted drivers using their smart device. Unlike humans, an ADAS does not get distracted. The larger picture is that, on balance, a Tesla with FSD – and any reputable ADAS for that matter – makes the roads safer. As long as the driver is paying attention and can take over when the ADAS fails. The latter unfortunately is a big if because some drivers see it as an invitation to text or nap. So, what about a robotaxi where there is no driver to intervene? As stated above, of course there's risk. But there is a much bigger risk with the average car driven by the average distracted human. With the explosion of personal devices, more and more people are distracted while they drive as they engage in things like texting – and even web browsing – while driving. I see people staring down at their devices while driving every day in Los Angeles. Those people are much more dangerous than any ADAS-controlled car. And those people would benefit greatly from an ADAS. The upshot is, an ADAS, such as Tesla FSD and robotaxi, does not get distracted and is laser-focused on the road. Humans often are not.
Yahoo
8 hours ago
- Yahoo
Xiaomi's SU7 Ultra arrives in gaming canon as 'Gran Turismo 7' car
For many, the best chance at feeling the thrill of throttling a Porsche 911 towards top speeds comes on a console: The likes of "Gran Turismo 7" on the PlayStation and "ForzaMotorsport" on the Xbox let players feel the dynamics of hundreds of real-world cars. Now, joining the digital versions of real racetrack-ready Lamborghinis, Porsches and Ferraris is a newcomer in the high-end automotive world, the brand-new flagship electric from a brand better known for making budget smartphones. Xiaomi's luxury SU7 Ultra is joining the slew of models available to "Gran Turismo 7" gamers in the latest update coming to PS4 and PS5, the Chinese manufacturer announced on Saturday. The consumer tech giant, having made a name for itself as China's alternative to Apple, has accelerated its automotive ambitions in recent years with its road-legal Porsche-killing super saloon. In the top version, the four-door SU7 Ultra uses a triple-motor powertrain to deliver 1,138 kW/1,548 hp. The urge allows it to dash to 100 km/h in under 2 seconds, according to the maker, before hitting a top speed of 350 km/h on the straights. Xiaomi's muscle car stands out in the electric segment for its speed, however Gran Turismo has not only added fast cars in the past, and also allows gamers to try out less racetrack-inclined models like Renault's Kangoo van and even Mercedes' military-style truck Unimog.
TechCrunch
9 hours ago
- TechCrunch
Week in Review: Why Anthropic cut access to Windsurf
Welcome back to Week in Review! Got lots for you today, including why Windsurf lost access to Claude, ChatGPT's new features, WWDC 2025, Elon Musk's fight with Donald Trump, and lots more. Have a great weekend! Duh: During an interview at TC Sessions: AI 2025, Anthropic's co-founder had a perfectly reasonable explanation for why the company cut access to Windsurf: 'I think it would be odd for us to be selling Claude to OpenAI,' Chief Science Officer Jared Kaplan said, referring to rumors and reports that OpenAI, its largest competitor, is acquiring the AI coding assistant. Seems like a good reason to me! Everything is the same: Chinese lab DeepSeek released an updated version of its R1 reasoning AI model last week that performs well on a number of math and coding benchmarks. Now some AI researchers are speculating that at least some of the source data it trained on came from Google's Gemini family of AI. WWDC 2025: Apple's annual developers conference starts Monday. Beyond a newly designed operating system, here's what we're expecting to see at this year's event, including a dedicated gaming app and updates to Mac, Watch, TV, and more. This is TechCrunch's Week in Review, where we recap the week's biggest news. Want this delivered as a newsletter to your inbox every Saturday? Sign up here. News Image Credits:Thomas Fuller / SOPA Images / LightRocket / Getty Images Business in the front: ChatGPT is getting new features for business users, including connectors for Dropbox, Box, SharePoint, OneDrive, and Google Drive. This would let ChatGPT look for information across your own services to answer questions. Oh no: Indian grocery delivery startup KiranaPro was hacked, and all of its data was wiped. According to the company, it has 55,000 customers, with 30,000 to 35,000 active buyers across 50 cities, who collectively place 2,000 orders daily. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Artsy people, rejoice! Photoshop is now coming to Android, so users of Google's operating system can gussy up their images, too. The app has a similar set of editing tools as the desktop version, including layering and masking. Let's try that again: Tesla filed new trademark applications for 'Tesla Robotaxi' after previous attempts to trademark the terms 'Robotaxi' and 'Cybercab' failed. Rolling in dough: Tech startup Anduril just picked up a $1 billion investment as part of a new $2.5 billion raise led by Founders Fund, which means Anduril has doubled its valuation to $30.5 billion. On the road again: When Toma's founders realized car dealerships were drowning in missed calls, they hit the road to see the problem firsthand. That summer road trip turned into a $17 million a16z-backed fundraise that helped Toma get its AI phone agents into more than 100 dealerships across the U.S. Fighting season: All gloves were off on Thursday as Elon Musk and President Trump took to their respective social networks to throw jabs at each other. Though it might be exciting to watch rich men squabble in public, the fallout between the world's richest person and a sitting U.S. president promises to have broader implications for the tech industry. Analysis Image Credits:BlackJack3D / Getty Images Money talks: Whether you use AI as a friend, a therapist, or even a girlfriend, chatbots are trained to keep you talking. For Big Tech companies, it's never been more competitive to attract users to their chatbot platforms — and keep them there.
