Latest news with #Apple
West Australian
14 minutes ago
- Business
- West Australian
Apple to buy rare earths from Gina Rinehart and Pentagon-backed US producer MP Materials
Tech giant Apple has struck a $US500 million ($767m) deal to buy rare earth minerals from Gina Rinehart-backed MP Materials, the US producer that just last week secured backing from the Pentagon. The two companies will build a factory in Texas, with neodymium magnet manufacturing lines tailored for Apple products, the iPhone maker said overnight Tuesday in a statement. Apple said the spending on rare earths is part of its earlier pledge to invest more than $US500b in the US over the next four years. Shares of MP Materials surged as much as 18 per cent in New York to the highest intraday price since April 2022. Mrs Rinehart has an 8.5 per cent stake in Las Vegas-based MP Materials, which along with Perth-headquartered Lynas Rare Earths is the only rare earths producer of note with operations beyond Chinese borders. She also holds 8.2 per cent of Lynas' register. The world's dependence on China for rare earths permanent magnets that are essential for consumer tech, cars, wind turbines and fighter aircrafts, has become a flash point in the Asian nation's trade war with the US. After the Trump administration imposed 145 per cemt tariffs on China, boasting that it had the upper hand, Beijing turned the tables by essentially shutting down exports of the critical component. MP Materials operates the sole US rare earths mine at Mountain Pass in California. 'Rare earth materials are essential for making advanced technology, and this partnership will help strengthen the supply of these vital materials here in the United States,' Apple chief executive Tim Cook said in the statement. The increased production will support dozens of new manufacturing and R&D jobs, Apple said. The two companies will also work together to establish a rare earths recycling line in Mountain Pass and develop novel magnet materials and innovative processing technologies to enhance magnet performance, according to the statement. That facility will allow MP Materials to take in recycled rare earth feedstock and use it in Apple products. 'This collaboration deepens our vertical integration, strengthens supply chain resilience, and reinforces America's industrial capacity at a pivotal moment,' MP Materials CEO James Litinsky said in a separate statement. Magnet shipments from the MP Materials facility in Fort Worth, Texas are expected to begin in 2027 and ramp up to support hundreds of millions of Apple devices, the Las Vegas-based firm said. Investor euphoria over the deal flowed through to trade in Australia, with Lynas up 1.5 per cent to $10.17 amid a broad decline across the rest of the ASX200. Iluka Resources — which is building a rare earths processing plant near Eneabba — also shot up 4 per cent to $4.87. China curbs on rare earths have reverberated across global supply chains — Ford Motor and Suzuki Motor idled some production. Elon Musk said shortages were hurting his robotics business. And governments rushed to secure the few suppliers outside of China. Signs have emerged in recent weeks that the US and China are beginning to deliver on promises made in trade talks held in Geneva and London in the past two months. China agreed to resume shipments of rare earths — with exports surging in June — while the Trump administration has reversed some restrictions on technology exports to China, including some semiconductors from Nvidia Corp. and Advanced Micro Devices Inc. Still, in its biggest move yet to push back against China's weaponisation of rare earths, the Pentagon took a $US400m stake in MP last week to secure supplies of magnets critical for military and other applications. The deal came with $US1 billion in financing from JPMorgan Chase & Co. and Goldman Sachs to fund a major new plant. While the export halt boosted prices and sparked fears of shortages, over the longer run western producers like MP Materials and Lynas have struggled to turn a profit due to weak prices and oversupply. Bloomberg
India.com
15 minutes ago
- Business
- India.com
This company became World's first trillion-dollar business 18 years before Nvidia; now it ranks below Mukesh Ambani's Reliance, it is...
As the technology industry is expanding quickly, one company is presenting itself as a real competitor to the giants of the sector, Apple and Microsoft. Due to their investments and innovations, they will have a valuation of $4 trillion. The company is Nvidia. The world's most valuable company is Nvidia. Recently, the company that makes AI chips became the first publicly traded firm to reach a valuation of $4trillion. No one has previously achieved this milestone before. No other company has achieved this before. However, China's PetroChina was the first company to become a trillion-dollar company. PetroChina had a market cap of 1 trillion dollars in 2007. Today, its market cap is 21.747 billion dollars and is the 66th most valuable company in the world. India's most valuable company is Reliance Industries at 24.309 billion and is the 53rd most valuable in the world. Trillion-dollar companies: $1 Trillion 2007: 🇨🇳 PetroChina 2018: 🇺🇸 Apple, 🇺🇸 Amazon 2019: 🇸🇦 Saudi Aramco, 🇺🇸 Microsoft 2020: 🇺🇸 Alphabet 2021: 🇺🇸 Meta, 🇺🇸 Tesla 2023: 🇺🇲 NVIDIA 2024: 🇺🇸 Berkshire Hathaway, 🇹🇼 TSMC, 🇺🇸 Broadcom $2 Trillion 2019: 🇸🇦 Saudi Aramco 2020: 🇺🇸 Apple… — World of Statistics (@stats_feed) July 13, 2025 After PetroChina, the next group of trillion-dollar companies took 11 years to occur. In 2018, Apple and Amazon accomplished this. Next, Saudi Aramco and Microsoft did so in 2019. The following year, in 2020, Google's parent company, Alphabet, followed that trend. Then, in 2021, Meta and Tesla joined the group. Nvidia entered this group in 2023, and in 2024, was joined by Berkshire Hathaway, Taiwan's TSMC, and Broadcom, an American company. However, Saudi Aramco became the first 2 trillion dollar company in 2019. Apple also became this milestone in 2020. Microsoft and Alphabet became 2 trillion dollar companies in 2021. Last year, in 2024, Nvidia and Amazon also reached this milestone. So far there are only three companies that have reached the 3 trillion dollar club, Apple in 2022, and then Microsoft and Nvidia both in 2024. This year, Nvidia became the first and only company to reach 4 trillion dollars in market cap.
Yahoo
24 minutes ago
- Business
- Yahoo
NuScale Power Corporation (SMR): A Bull Case Theory
We came across a bullish thesis on NuScale Power Corporation (SMR) on r/wallstreetbets Subreddit by drewbaseball. In this article, we will summarize the bulls' thesis on SMR. NuScale Power Corporation (SMR)'s share was trading at $35.88 as of 3rd July . A Nuclear power plant with all its safety & security protocols in place. NuScale Power presents a rare convergence of regulatory positioning, political momentum, and corporate necessity, creating what could be one of the most compelling asymmetric investment opportunities of the decade. At the heart of the thesis is the anticipated announcement of a strategic partnership between NuScale and Apple, projected within a 1–45 day window from June 26, 2025. Apple's $500B AI infrastructure expansion demands massive baseload energy, and unlike peers, it lacks a nuclear partner. NuScale, as the only Nuclear Regulatory Commission-certified SMR provider with manufacturing capacity, stands uniquely positioned to fulfill this need. Political tailwinds from Trump's executive orders, aimed at catalyzing private-sector nuclear partnerships and fast-tracking deployments, further strengthen the case. The 44-day insider blackout at Apple and the 27-day blackout at NuScale—timed immediately after regulatory approval—mirror institutional behavior typically seen before major announcements. If a partnership materializes, a 200–300% stock appreciation is likely, with upside to 400–500% if a broader nuclear narrative unfolds. Even in a bear case, downside appears limited given NuScale's modest current valuation. Supporting evidence includes insider positioning, manufacturing readiness through Doosan, and a shareholder base aligned with strategic execution. Technical validation adds further confidence, with an ascending triangle pattern forming over several weeks and aligning with known catalysts, such as July 4's symbolic timing for political wins. The pattern's volume compression and institutional accumulation indicate market participants may already be positioning for this outcome. With multiple success pathways—Apple, other hyperscalers, or broader nuclear adoption—this setup offers an exceptional risk/reward skew, justifying an overweight rating and a $120 price target within 12 months. Previously, we covered a bullish thesis on NANO Nuclear Energy Inc. (NNE) by Charly AI in May 2025, which highlighted the company's vertically integrated microreactor strategy, government-aligned positioning, and a top-tier technical team. The company's stock price has appreciated by approximately 29% since our coverage. This is because investor enthusiasm for nuclear-adjacent AI infrastructure has grown. Drewbaseball shares a similar thesis but emphasizes NuScale's near-term partnership potential with Apple and its certified readiness, adding an event-driven catalyst to the nuclear narrative. SMR isn't on our list of the 30 Most Popular Stocks Among Hedge Funds. While we acknowledge the risk and potential of SMR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. 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
Calgary Herald
32 minutes ago
- Entertainment
- Calgary Herald
Vancouver native Seth Rogen's TV series The Studio nabs 23 Emmy Award nominations
The 2025 Emmy Nominations are out and Vancouver native Seth Rogen 's comedic skewering of the film business The Studio from AppleTV+ leads the comedy category with 23 nominations. Article content Rogen 's show, which he stars in and co-created, wrote and directed with longtime collaborator and fellow Vancouverite Evan Goldberg, nabbed 23 nominations, including best directing and writing for the partners and best comedy actor for Rogen as well as a best supporting actress nomination for Toronto-born Catherine O'Hara, who also earned a best supporting guest actress in a drama nomination for her turn on the Vancouver-shot The Last of Us. Article content Article content Article content Article content The Studio is joined in the best comedy category by Abbott Elementary, The Bear, Hacks, Nobody Wants This, Only Murders in the Building, Shrinking and What We Do in the Shadows. Article content Topping the most nominated list is Apple's drama Severance with 27 nods, including best drama series, where it will compete alongside Andor, The Diplomat, The Last of Us, Paradise, The Pitt, Slow Horses and The White Lotus. Article content The Penguin was next with a total of 24 noms; followed by The Studio and The White Lotus with 23; The Last of Us garnered 16 nominations. Article content Also getting some Emmy attention is Vancouver's Nathan Fielder who picked up writing and directing nominations for his HBO docu-comedy The Rehearsal. Article content
Yahoo
44 minutes ago
- Business
- Yahoo
Apple to Buy Rare Earth Magnets From MP Materials in $500 Million Partnership Deal
MP Materials (MP) shares surged intraday Tuesday after Apple (AAPL) agreed to buy rare earth magnets 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
