tech

Rani Molla9/15/25

Snap and Meta fall as Trump hints at TikTok deal, Bessent says framework for an agreement has been reached

Snap fell more than 1% premarket while Meta dropped about 0.5% after President Donald Trump hinted on his social media platform, Truth Social, that a TikTok deal was reached during the European trade meetings. “A deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save,” he wrote. “They will be very happy!”

Treasury Secretary Scott Bessent was more explicit, telling reporters in Madrid that a framework for a TikTok deal has been reached, according to Bloomberg.

Trump said he would speak with Chinese leader Xi Jinping on Friday.

Back in 2024, a bipartisan group of lawmakers agreed that TikTok was such an unspeakable threat to American security that it had to be outlawed or sold to an American buyer. Since then, Trump has thrice pushed back the deadline for the deal, saving the app from going dark.

As Sherwood News’ Nate Becker has noted, Oracle is a likely contender to buy or run TikTok.

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Apple Store in China

Apple reports Q4 earnings and revenue slightly above Wall Street estimates

The iPhone maker reported its FY 25 fourth-quarter earnings Thursday.

Tesla just recalled its beleaguered Cybertruck for the 10th time since the vehicle was introduced two years ago. This time the company recalled about 6,000 of the “apocalypse-proof” vehicles due to what the National Highway Traffic Safety Administration says is an improperly installed “optional off-road light bar accessory” that could become disconnected from the windshield while driving, and could “create a road hazard for following motorists and increase their risk of a collision.”

CEO Elon Musk once said he could sell up to 500,000 of the stainless steel behemoths a year. In the first three quarters of this year, the company has sold only about 16,000.

Microsoft: Forget what we said, we are going to keep spending on capex

Last quarter, the company offered guidance that its capex spending would be lower in the second half of the fiscal year. Yesterday it said spending would go up.

Microsoft Celebrates Its 50th Anniversary With Copilot AI Event

tech

Analysts lower Meta price targets after social media giant says AI capex will keep climbing

Meta may have posted record revenue Wednesday but the stock is deeply in the red in the wake of its third-quarter earnings report, after the social media company said that its capital expenditure on AI would continue to rise.

The earnings prompted a number of analysts to lower their price targets or downgrade the stock.

RBC Capital lowered its price target to $810 from $840. Bank of America Securities lowered its price target to $810 from $900. Barclays, JPMorgan, Deutsche Bank, and Wells Fargo also lowered their price targets on the company.

Earlier today, Benchmark downgraded its rating to a “hold” from a “buy.” Oppenheimer downgraded the company to “perform” from “outperform,” saying the “significant investment in Superintelligence despite unknown revenue opportunity mirrors 2021/2022 Metaverse spending.” Ouch.

Capex marks the spot

Big Tech capex approaches $100 billion and Dan Ives loves it

AI spending shows no signs of flagging.

Meta, Microsoft, Alphabet and Amazon capex

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