Wall Avenue Breakfast Podcast: Samsung Overtakes Apple

Male hand hold Apple iphone pro and samsung galaxy s 10


Pay attention under or on the go on Apple Podcasts and Spotify

Apple (AAPL) loses high smartphone maker crown to Samsung (OTCPK:SSNLF). (00:27) Tesla (TSLA) workers brace for potential layoffs – report. (01:01) J&J (JNJ) cough syrup recall categorised as most serious in South Africa. (01:51)

That is an abridged transcript of the podcast.

Samsung (OTCPK:SSNLF) has reclaimed its crown as the highest smartphone maker from Apple (NASDAQ:AAPL).

In keeping with preliminary information from the Worldwide Information Company’s Worldwide Quarterly Cell Telephone Tracker, Apple noticed its iPhone shipments drop 9.6% in Q1 2024.

Apple’s (AAPL) market share on the finish of Q1 was 17.3%, whereas Samsung’s (OTCPK:SSNLF) share was 20.8%.

Chinese language manufacturers are steadily gaining floor, with Xiaomi (OTCPK:XIACF) taking the third spot with a market share of 14.1%.

Some Tesla (NASDAQ:TSLA) workers are stated to be bracing for a spherical of layoffs that might occur quickly.

The Enterprise Insider spoke to seven engineers, together with from the Austin gigafactory and the Fremont plant.

One engineer told the publication, “There’ve been some whispers, and some people are concerned, but you know how fast false rumors can spread at a company this big.”

Tesla (TSLA) didn’t reply to requests for remark.

The hypothesis comes quickly after Tesla (TSLA) knowledgeable its workers engaged on the Cybertruck manufacturing line on the Texas gigafactory that their shifts will probably be shorter.

As well as, a number of clients reported that Tesla (TSLA) cancelled some Cybertruck supply appointments as a consequence of an “unexpected delay.”

Tesla additionally not too long ago cut the price of its Full Self Driving package deal by 50%.

A current product recall of Johnson & Johnson’s (NYSE:JNJ) kids’s cough syrup model Benylin is assessed as Class 1, Sort A by South African officers. This classification indicates a critical product high quality subject.

The South African Well being Merchandise Regulatory Authority (SAHPRA) stated it has labored with J&J’s client care spinoff, Kenvue (KVUE), to determine the affected batches after its Nigerian counterpart initiated the recall a few days ago.

On Wednesday, a Nigerian drug regulator introduced its determination to recall a batch of Benylin Paediatric Syrup after discovering excessive ranges of diethylene glycol, a poisonous substance that may result in acute kidney harm.

SAHPRA stated it’s recalling two Benylin batches over the problem, which it stated have been distributed in South Africa, Eswatini, Rwanda, Kenya, Tanzania, and Nigeria.

Kenvue (KVUE) stated in an announcement, “We take this matter very critically and are appearing with urgency to conduct a radical security and high quality evaluation.”

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On our catalyst look ahead to the day,

  • Ancora’s candidates for the CEO, COO place, and board seats at Norfolk Southern (NSC) will take part in a hearth chat with Deutsche Financial institution.

  • TED2024 will run all week. Among the notable audio system associated to the inventory market embody Invoice Ackman speaking in regards to the activist investor playbook and Google (GOOG) DeepMind CEO Demis Hassabis speaking about the way forward for AI.

  • All week – The four-day NAB Present in Las Vegas will concentrate on matters resembling broadcast cybersecurity, the rise of 5G, and the position of AI in media. Sony (SONY), Verizon (VZ), Sinclair (SBGI), Fujifilm (OTCPK:FUJIY), Beamr (BMR), InterDigital (IDCC), and Backblaze (BLZE) are a number of the firms that will probably be showcasing their merchandise and improvements.

  • All week – Ibotta (IBTA) and Centuri (CTRI) are anticipated to cost their IPOs and begin buying and selling. The IPO quiet durations expire on Reddit (RDDT), Astera Labs (ALAB), Clever Group (INTJ), and Auna (AUNA) to unencumber analysts to publish scores.

Wall Avenue’s three main averages on Friday shed greater than 1% every.

The Nasdaq (COMP:IND) led losses among the many indexes, dipping 1.62%. The S&P 500 (SP500) retreated 1.46%, whereas the Dow (DJI) misplaced floor by 1.24%.

All three gauges posted weekly losses. For the week, the Dow (DJI) fell 2.37%, the S&P (SP500) fell 1.56%, and the Nasdaq (COMP:IND) fell 0.45%.

Now let’s check out the markets as of 6 am. Forward of the opening bell right now, Dow, S&P and Nasdaq futures are within the inexperienced. Crude oil is down 0.8% at greater than $84 per barrel. Bitcoin is up 3.4% at greater than $66,000.

On the planet markets, the FTSE 100 is down 0.3% and the DAX is up 1.1%.

The biggest movers for the day premarket: Medical Properties Belief (MPW) is up 15% following the announcement of the sale of its majority curiosity in 5 Utah hospitals.

On right now’s financial calendar:

  • 830am The March Retail Gross sales report will probably be launched. Economists forecast a 0.4% month-over-month improve within the headline quantity.

  • 10am Housing Market Index

Editor’s Observe: This text discusses a number of securities that don’t commerce on a significant U.S. trade. Please pay attention to the dangers related to these shares.