Hey there!
How’s everything been with you? I’m always excited writing to you!
(I know you’ve heard this a lot from me but I’m gonna keep saying it!😜)
Wish I could be writing to you every day but …
I really can’t… 🤯 Or maybe, just maybe… If you send my favourite snack (hint: I haven’t mentioned it to you, but you can try guessing 🤔), I might reconsider 😜
Anyway, I’m back to give you the usual
RECLAIM. THE. THRONE!
Nike’s throne is shaking! The swoosh empire that once ruled supreme is facing a major threat! For years, Nike was the undisputed champion of sportswear, its iconic logo a symbol of coolness and excellence. I mean ….You can spot the logo from a mile away and you’re like, ‘YAAAS, I NEED IT!’ Even if you already have it, you’d still wanna own it all over again! It was that good!
But, {plot twist}
They’ve got new rivals! 👀👀
Yeah! On and Hoka are the new kids on the block, and they’re stealing the spotlight from Nike with their sleek designs and trendy vibes.
Recently, the company posted its latest quarterly report which missed expectation. The company told its investors it is facing a weakening demand in international markets, including China, a crucial region for growth. And that’s not all! the company also said it expects a surprise 10% drop in quarterly revenue. This means their sales will be 10% lower than expected for the quarter. ( can you pass me a glass of water, you also need some at this point)
Uhm…I’m sure you know what follows in such situation 👀👀
A dip?
Tomi: Correct!! I’m glad you understand the market so well.. Kudo! 👏🏼👏🏼
A dip happened. The company’s shares dropped and according to some analysts the brand has not been innovative enough – it has not been refreshing its footwear line up.
However, CEO John Donahoe has called upon his team to regroup and refocus. The company is optimistic that new products and a marketing campaign at the upcoming Olympic Games in Paris will help Nike reclaim its throne and reconnect with customers.
Issorite! The stage is set, will Nike succeed in regaining dominance?
Chillin’ with the Big Boys
Guess who just joined the big leagues with a $2 trillion market cap? Amazon!
Yeah! Amazon has joined the big leagues – Microsoft, Apple, Nvidia, and Alphabet.
🎶🎶Ha! You want to bam ba? (Ameno, ameno) You wanna chill with the big boys🎶🎶
“Yaaas, Amazon is crushing it!” Bezos must be so proud!
The company’s investments in AI have been paying off, and investors are taking notice. In the past 12 months, Amazon’s stock has gained 52%, with a big chunk of that growth coming from its cloud computing unit, AWS.
“A big part of the valuation boost has been cloud and AI,” said Wedbush tech analyst Dan Ives. According to him, Amazon is going to be a major player in the AI revolution. Mmmh!
Amazon CEO Andy Jassy was thrilled, saying that AI capabilities have reaccelerated AWS’ growth, and the unit is on pace for $100 billion in annual revenue. The company’s also invested $4 billion in AI company Anthropic and is designing its own AI chips.
Investors right now👇🏼
Morgan Stanley, Shaking Things Up!
You know how we’re always talking about the future of tech? Well, Morgan Stanley isn’t left out. The company is making some serious moves. They’re shaking things up!
Mmmmh..The multinational investment bank is planning to roll out a new AI-powered assistant called “Debrief” for its roughly 15,000 financial advisors.
Anyway So, Debrief, which was built on OpenAI’s GPT-4 tech will be able to sit in on advisors’ client meetings on Zoom provided that the client consents to being recorded each time Debrief is used. This would replace the note-taking task that advisors do. Sounds like the role of an intern. Among its responsibilities include keeping a detailed log of advisors’ meetings and automatically drafting emails and summaries of the discussions.
According to Jeff McMillan, Morgan Stanley’s head of firmwide artificial intelligence, Debrief does a better job of taking notes than the average human. Okay?👀
In fact, one financial advisor also told CNBC that the tool helps them save 30 minutes of work per meeting and it also keeps them “a lot more present” in the meeting. Issorite!
I guess the future of finance is about to get a whole lot more interesting! And by interesting, I mean, Debrief is so good that it’ll make you wonder if humans are even needed anymore!
“Do you think AI will steal all the jobs?” (Just asking for a friend)
And It’s a wrappppp!
What are you waiting for?!?!Forget not this ministry of yours: Tell a friend to tell a friend to download the Trove AppRate
Until next time folks!Catch more gist on our social media pages
Your dearest and favorite Stocks Market Gist Partner,
Tomi, From Trove 💚
