Latest news with #WedbushSecurities'
Hypebeast
5 days ago
- Entertainment
- Hypebeast
'GTA VI' Projected To Cost $100 USD, Could Generate $10 Billion USD in Its Lifetime
The highly-anticipatedGrand Theft Auto VIis looking to generate a whopping $10 billion USD in its lifetime, with the game expecting to go for $100 USD per copy. Louise Wooldridge of Ampere Analysis toldThe Telegraphthat theRockstar Gamestitle is 'probably the most anticipated game of all time,' and will likely be 'one of the most expensive games ever made.' He adds thatGTA VIcould earn over $1 billion USD in sales in its first day alone. An estimate from Wedbush Securities' Michael Patcher puts the game's development cost at $1.5 billion USD, although Rockstar's parent company Take-Two Interactive will, regardless, still make a hefty profit. 'I expect a $100 price point for the game,' he shared. 'The game will be immensely profitable. It will likely generate $10bn lifetime and another $500m annually fromGTA Online.' The Telegraphadds that Take-Two is currently valued at $40 billion USD, with its stock up more than 20% so far in 2025. GTA VIis set to release May 26, 2026.
AU Financial Review
24-07-2025
- Business
- AU Financial Review
ASX 200 LIVE: Australian shares are poised to open lower
Australian shares are poised to open lower. US equities were mostly higher, with one megacap exception: Tesla tumbled more than 11 per cent before paring its loss somewhat after Elon Musk forecast a tough outlook. 'The slow-motion melt-up continues,' said Wall Street veteran Ed Yardeni as both the S&P 500 and Nasdaq Composite reset their respective intraday highs yet again. Yardeni said momentum, or growth, stocks have lead the US benchmark index higher since 2023 and there's little sign that's near an end. Alphabet paced the other six 'magnificent seven' stocks higher after reporting results that showed massive investments in artificial technology are starting to pay off. Wedbush Securities' Dan Ives said he is maintaining his outperform rating on Alphabet. 'We continue see a favourable risk/reward for Alphabet and think there is a case for multiple expansion in the coming quarters as investors gain more comfort around the current macro environment, regulatory risk, and the impact of generative AI on the business.' The Dow was being held back on Thursday (Friday AEST) by a 7 per cent slump in IBM and more than 4 per cent losses for both Honeywell and UnitedHealth. Market highlights ASX futures are pointing down 29 points or 0.3 per cent to 8647. All US prices as of 2.30pm New York time. AUD -0.05% to US65.99¢ -0.05% to US65.99¢ Bitcoin +0.9% to $US119,288 +0.9% to $US119,288 On Wall St: Dow -0.4% S&P +0.3% Nasdaq +0.4% -0.4% +0.3% +0.4% VIX -0.3 to 15.07 -0.3 to 15.07 Gold -0.6% to $US3368.56 an ounce -0.6% to $US3368.56 an ounce Brent oil +0.4% to $US68.75 a barrel +0.4% to $US68.75 a barrel Iron ore +0.8% to $US105.35 a tonne +0.8% to $US105.35 a tonne 10-year yield: US 4.40% Australia 4.35% Today's agenda Quarterly results are expected on Friday from Newmont and Whitehaven Coal. Top stories BP ditches $54b Pilbara hydrogen project | The decision makes the British energy major the latest company to walk away from plans for green hydrogen production in Australia. Productivity boost would make workers $14,000 richer | Productivity Commission chairwoman Danielle Wood has handed down a raft of recommendations to the Albanese government to lift the economy out of stagnation. Macquarie investors deliver wake-up call with strike on executive pay | Investors deliver an embarrassing rebuke to the Millionaires Factory over bonuses amid regulatory woes and the surprise exit of its CFO. Canberra Observed: Memo to Nats: You can't abolish net zero if you can't form government | Sussan Ley had a process to manage the Coalition's climate policy. The mad rush by Barnaby Joyce and Michael McCormack to abandon it undoes all that, writes Phillip Coorey. RBA tempers the doves as it sells its slow and steady strategy | The Reserve Bank's deliberate plan to hold back on big cash rate increases worked as intended. Now its message is that the approach applies on the way down.
CNBC
10-07-2025
- Business
- CNBC
Watch CNBC's full interview with Dan Ives of Wedbush Securities
CNBC's "Closing Bell" is joined by Wedbush Securities' Dan Ives to discuss Apple CEO Tim Cook, the company's AI struggles and more.
CNBC
10-07-2025
- Business
- CNBC
Apple CEO Tim Cook's legacy will be tainted if he misses AI window, says Wedbush's Dan Ives
CNBC's "Closing Bell" is joined by Wedbush Securities' Dan Ives to discuss Apple CEO Tim Cook, the company's AI struggles and more.
CNBC
08-07-2025
- Business
- CNBC
Elon Musk lashes out at Tesla bull Dan Ives over board proposals: 'Shut up'
Tesla CEO Elon Musk told Wedbush Securities' Dan Ives to "Shut up" on Tuesday after the analyst offered three recommendations to the electric vehicle company's board in a post on X. Ives has been one of the most bullish Tesla observers on Wall Street. With a $500 price target on the stock, he has the highest projection of any analyst tracked by FactSet. But on Tuesday, Ives took to X with critical remarks about Musk's political activity after the world's richest person said over the weekend that he was creating a new party called the America Party to challenge Republican candidates who voted for the spending bill that was backed by President Donald Trump. Ives' post followed a nearly 7% slide in Tesla's stock on Monday, which wiped out $68 billion in market cap. Ives called for Tesla's board to create a new pay package for Musk that would get him 25% voting control and clear a path to merge with xAI, establish "guardrails" for how much time Musk has to spend at Tesla, and provide "oversight on political endeavors." Ives published a lengthier not with other analysts from his firm headlined, "The Tesla board MUST Act and Create Ground Rules For Musk; Soap Opera Must End." The analysts said that Musk's launching of a new political party created a "tipping point in the Tesla story," necessitating action by the company's board to rein in the CEO. Still, Wedbush maintained its price target and its buy recommendation on the stock. "Shut up, Dan" Musk wrote in response on X, even though the first suggestion would hand the CEO the voting control he has long sought at Tesla. In an email to CNBC, Ives wrote, "Elon has his opinion and I get it, but we stand by what the right course of action is for the Board." Musk's historic 2018 CEO pay package, which had been worth around $56 billion and has since gone up in value, was voided last year by the Delaware Court of Chancery. Judge Kathaleen McCormick ruled that Tesla's board members had lacked independence from Musk and failed to properly negotiate at arm's length with the CEO. Tesla has appealed that case to the Delaware state Supreme Court, and is trying to determine what Musk's next pay package should entail. Ives isn't the only Tesla bull to criticize Musk's continued political activism. Analysts at William Blair downgraded the stock to the equivalent of a hold from a buy on Monday, because of Musk's political plans and rhetoric as well as the negative impacts that the spending bill passed by Congress could have on Tesla's margins and EV sales. "We expect that investors are growing tired of the distraction at a point when the business needs Musk's attention the most and only see downside from his dip back into politics," the analysts wrote. "We would prefer this effort to be channeled towards the robotaxi rollout at this critical juncture." Trump supporter James Fishback, CEO of hedge fund Azoria Partners, said over the weekend that his firm postponed the listing of an exchange traded fund, the Azoria Tesla Convexity ETF, that would invest in the EV company's shares and options. He began his post on X saying, "Elon has gone too far." "I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO," Fishback wrote. Musk said Saturday that he has formed the America Party, which he claims will give Americans "back your freedom." He hasn't shared formal details, including where the party may be registered, how much funding he will provide for it and which candidates he will back. Tesla's stock is now down about 25% this year, badly underperforming U.S. indexes and by far the worst performance among tech's megacaps. Musk spent much of the first half of the year working with the Trump administration and leading an effort to massively downsize the federal government. His official work with the administration wrapped up at the end of May, and his exit preceded a public spat between Musk and Trump over the spending bill and other matters. Musk, Tesla's board chair Robyn Denholm and investor relations representative Travis Axelrod didn't immediately respond to requests for comment.
