Snap’s second quarter revenue fell 4% year-over-year to $1.068 billion, its second straight quarter of declining earnings. Meanwhile, Snap projected that its third quarter revenue could be as much as 5% lower, sending the stock plunging nearly 20% in after hours trading. The revenue decline was despite 14% growth in the number of daily active users, to 397 million. Snap projected that DAUs...
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Google’s Standoff with AI Chip 'Shark' Broadcom
Jim Cramer, CNBC’s “Mad Money” host, took a swipe at our report today that Google has set an internal goal to break from Broadcom, its supplier of artificial intelligence chips. Cramer called the story “patently false” on X. Cramer, who has been particularly bullish on Broadcom lately, is often criticized for dispensing bad advice—for example, telling his viewers earlier this year to buy shares...
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