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Game On: Nintendo's Switch 2 launches

Game On: Nintendo's Switch 2 launches

CNN19 hours ago

Nintendo launched its Switch 2 video game console at midnight on-sale events in New York and San Francisco. Rick Damigella reports.

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Why One Analyst Thinks Tesla Could Dominate the 'Low-Altitude Economy'
Why One Analyst Thinks Tesla Could Dominate the 'Low-Altitude Economy'

Yahoo

time15 minutes ago

  • Yahoo

Why One Analyst Thinks Tesla Could Dominate the 'Low-Altitude Economy'

"Look up, your ride has arrived," is a message some see as eventually landing in your inbox. 'In our view, the low altitude economy (LAE) may eventually vastly exceed the size of today's automotive market,' wrote Morgan Stanley analyst Adam Jonas in a research note earlier this week. That term refers to aerial commercial activities conducted within one mile of the earth's surface, airspace now sparsely occupied by helicopters and small drones. Analysts expect advancements in artificial intelligence and robotics to support the launch of new aircraft—notably, electric vertical take-off and landing (eVTOL) vehicles—with applications in areas like logistics/distribution, public security and emergency services, tourism, urban commuting, and intercity transportation. Morgan Stanley forecasts the total addressable 'Urban Air Mobility' (UAM) market will be valued at $1 trillion by 2040 and $9 trillion by 2050. Not everybody's expectations are quite that high: Bank of America recently estimated a market worth $23 billion by 2035. BofA expects adoption to remain relatively slow until at least that year, when it anticipates economies of scale and battery technologies to improve eVTOL cost and accessibility. Whatever the size of the pie, the companies vying for a slice of it include upstarts like Archer Aviation (ACHR), which is currently testing an eVTOL model and partnering with defense contractor Anduril to develop military applications, and Joby Aviation (JOBY), which is in the process of getting its air taxi certified for passenger rides. Morgan Stanley's Jonas thinks those companies could face formidable competition from Tesla (TSLA). The EV maker hasn't announced any intention to develop eVTOLs, but CEO Elon Musk has discussed the need for a homegrown low-altitude economy in the U.S. When Jonas, on Tesla's most recent earnings call, asked Musk for his thoughts on the U.S. and China's AI and robotics rivalry, Musk expressed concern about America's limited drone manufacturing capabilities. 'Any country that cannot manufacture its own drones is doomed to be the vassal state of any country that can,' he said, quoting X user "@naval." 'And we can't. America cannot currently manufacture its own drones.' Tesla, Jonas says, 'has a host of relevant skills to be a factor' in the commercial and military LAE, including its work in manufacturing, autonomy, electric motors and batteries, and robotics. Jonas estimates Tesla's share of a future $9 trillion UAM market could add between $100 and $1,000 to its share price. Tesla's work on autonomous vehicles could give it a leg up on LAE competitors. "Any advancement in the science of autonomous cars accelerates the advancement of autonomous aerial drones," Jonas wrote. Tesla is expected to launch its first robotaxi operation in Austin, Texas, later this month. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Analysts Look to Tesla's Robotaxi Launch After Stock Hit From Musk-Trump Spat
Analysts Look to Tesla's Robotaxi Launch After Stock Hit From Musk-Trump Spat

Yahoo

time15 minutes ago

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Analysts Look to Tesla's Robotaxi Launch After Stock Hit From Musk-Trump Spat

Tesla is expected to launch its autonomous ride hailing service later this month, perhaps as soon as this week. The company has yet to confirm or deny a report from Bloomberg that it is targeting a June 12 launch for the robotaxi. The EV maker's stock could use a lift after a week marked by a spat between CEO Elon Musk and President (TSLA) is expected to launch its robotaxi service in Austin, Texas, as soon as this week, with the electric vehicle maker's stock in need of a lift after a week marked by political strife between CEO Elon Musk and President Trump. The stock rebounded nearly 4% to close just above $295 Friday, after tumbling 14% on Thursday. They've lost roughly one-quarter of their value since the start of the year. Tesla bulls believe a robotaxi program could drive substantial upside in the company's stock. Bloomberg last month reported that Tesla was targeting a June 12 launch, citing a person familiar with the matter, adding that the date could change. The company has not confirmed that date, and Tesla did not respond to Investopedia's request for comment in time for publication. Musk said in last month's earnings call and a May 20 interview with CNBC that the company was still on track to launch the program by the end of the month. The start of the program, Musk told CNBC, will likely be about 10 Model Y vehicles operating autonomously, with the company later expanding to more vehicles and cities. Tesla owners will eventually be able to add their vehicle to the available fleet of Teslas to rent for a ride, Musk has said, which could help Tesla scale the project before the Cybercab goes into production next year. Oppenheimer analysts recently wrote that the company's ability to get its software to drive fully autonomously with its current suite of cameras could be "key to its technology leadership and stock performance," but added they believe it might take at least one or two more hardware and software updates before Tesla can deliver reliable autonomous performance. More bullish analysts, like Wedbush's Dan Ives, have said they think successful autonomous driving software will be the start of technology that will eventually add $1 trillion in value to the company. Overall, analysts are somewhat divided on Tesla's stock, with 10 of the brokers tracked by Visible Alpha giving the stock a "buy" rating, with four "hold" and four "sell" ratings. Their average price target is about $304, slightly above Friday's closing level, but their price targets range from as low as $120 to as high as $500. Read the original article on Investopedia

Misty Copeland Changed Ballet. Now She's Ready to Move On.
Misty Copeland Changed Ballet. Now She's Ready to Move On.

New York Times

time20 minutes ago

  • New York Times

Misty Copeland Changed Ballet. Now She's Ready to Move On.

After 25 years with the company, Misty Copeland is retiring from American Ballet Theater. While the departure of ballet's biggest crossover star is certainly a momentous occasion, it's also not exactly a surprise. The 42-year-old has been away from the Lincoln Center stage for five years, spending that time raising a son with her attorney husband, Olu Evans, and working with her namesake foundation, which aims to bring greater diversity, equity and inclusion to the dance world — at a time when that mission is newly fraught. Copeland will give a farewell performance with A.B.T. this fall, putting a cap on a career that was both groundbreaking and improbable. She grew up in near poverty in Southern California and was frequently homeless, her mother struggling to make ends meet for Misty and her five siblings. Eventually, she found solace and stability in dance, though she didn't seriously pursue the art form till she was 13 — late for a budding ballerina. Despite that, and the historical struggles for people of color to break into the often hidebound world of classical dance, she eventually joined A.B.T. in 2001, and after a 15-year climb, she became the first Black woman ever to be named a principal dancer with the company. Speaking with me last month, Copeland explained that although she was personally at peace with the decision, she also knows that she is stepping away at a difficult cultural moment. The whole idea of D.E.I., the value of which she came to both embody and now works to promote, is under political attack, and arts institutions are being forced to reckon with partisan antagonism. So there was a lot for her to wrestle with as she looked back on the legacy she will leave behind and ahead to the rest of her life. Subscribe: Apple Podcasts | Spotify | YouTube | Amazon | iHeart | NYT Audio App You've been ramping down dancing for a while. Why does now feel like the time to make an official retirement announcement? In all honesty, I've wanted to fade away into the background, which is not really possible. The legacy of what I've created, the way that I'm carrying so many stories of Black dancers who have come before me — I can't just disappear. There has to be an official closing to my time at American Ballet Theater, this company that has meant everything to me. It was in 2019 that I was processing that I think this is the end of this chapter, and though I wasn't saying it out loud to the world, I've already moved on to that next place of what I want to be doing. Want all of The Times? Subscribe.

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