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.
Microsoft's stock is close to its all-time high of $549.20, driven by strong revenue growth from Azure and AI partnerships. However, rising capital expenditures have slowed free cash flow growth, creating uncertainty about the stock's next move. Inve...
Investors pulled $700 million from the iShares Expanded Tech-Software Sector ETF (IGV) just hours before Snowflake reported a strong quarter with 37% product revenue growth and an increased full-year forecast, driven partly by AI. Despite Snowflake's...
The 4-Factor Dividend Growth Strategy, inspired by the Schwab US Dividend Equity ETF (SCHD), targets high-quality dividend stocks using four key metrics. Since its inception, it has delivered an average return of 14.89%, marginally beating SCHD's 14....
The Seattle Times and Newsday have filed lawsuits against OpenAI and Microsoft, accusing them of using their journalism content without permission to train AI models. The lawsuits warn that generative AI could severely damage the journalism industry ...
The August jobs report showed stronger-than-expected job growth with 162,000 jobs added and unemployment steady at 4.1%, easing concerns about labor market weakness. This shifts the Federal Open Market Committee's (FOMC) attention fully to inflation ...
