California Governor Gavin Newsom proposed a new tax extending state sales tax to digital prewritten software purchases, aiming to level the playing field between online and physical store sales. The tax, set to take effect January 1, 2027 pending legislative approval, could generate $450 million for the state and $560 million for local budgets in its first year. This move impacts major software companies like Microsoft and Salesforce amid ongoing challenges in the software-as-a-service (SaaS) sector. Despite concerns, HSBC predicts software will benefit from AI advancements rather than suffer from the tax changes.
The Magnificent Seven—Microsoft, Apple, Alphabet, Amazon, Meta, Nvidia, and Tesla—dominate major U.S. indexes like the S&P 500 and Nasdaq-100. Investors can now choose ETFs that either concentrate solely on these tech giants, like the Roundhill Magni...
Robbins Geller Rudman & Dowd LLP has filed a class action lawsuit against Microsoft, alleging the company misled investors about problems with its AI Copilot products, including technical issues, increased costs, and poor market adoption. The lawsuit...
Microsoft stock has declined for six consecutive days due to renewed worries about the company's artificial intelligence spending. This drop marks the longest losing streak for Microsoft since March 2020. The concerns come shortly after Microsoft int...
The IPO market is seeing a shift from the traditional FAANG companies to a new group dubbed MANGOS, which includes Meta (or Microsoft), Anthropic, Nvidia, Google, OpenAI, and SpaceX. Several of these companies are planning to go public soon, presenti...
Over the past five years, the ARK Innovation ETF (ARKK), known for its focus on disruptive tech like electric vehicles and AI, lost 33%, while the VanEck Morningstar Wide Moat ETF (MOAT) gained 45%, offering steadier returns with less volatility. ARK...
