Micron Stock Plummets, AI Can't Offset Weak PC and Smartphone Markets; Elon Musk's Political Influence Grows

Micron's stock plummeted due to weak PC and smartphone markets, despite AI demand growth.

### Tech Market Volatility, Political Influence, and Apple's Shifting Strategies

* 📱 Micron Technology's stock plummeted over 70% due to weaker-than-expected earnings, despite a 400% growth in AI demand.  The shortfall was attributed to an inventory crunch and sluggish PC and smartphone markets.
* 📉 Analysts highlight seasonal demand and potential growth in AI-enhanced PCs and smartphones as possible catalysts for a second-half turnaround, but uncertainty remains.
* 🤔 An investor with $35 million in assets under management views the downturn as a buying opportunity, citing Micron's limited competition and cyclical nature, while acknowledging potential tax-loss selling.  "Micron says it has terrific growth. There are very few players in this space," she noted.
* 🇺🇸 Elon Musk's political influence was evident in his role in derailing a government funding bill, leveraging his social media platform to galvanize opposition.  He's also building a team focused on government efficiency.
* 🍎 Apple canceled its iPhone hardware subscription service, disbanding the dedicated team.  Meanwhile, the European Commission is pushing for greater iPhone system openness to rivals, while Indonesia lifted its ban on iPhone 16 sales after a $1 billion Apple investment.
* 🚗 The EV landscape is rapidly evolving, with Tesla's stock price surging 76% year-to-date despite flat sales, fueled by bets on full self-driving technology and a potential shift in policy under the incoming Trump administration.
* 💼 A potential overhaul of the H-1B visa program aims to expand access for tech workers, addressing concerns about potential changes under a new administration.  This is viewed positively by investors who note that a significant percentage of successful startups are founded by immigrants.
* ⚖ ️ A lawsuit against Snapchat for facilitating fentanyl sales highlights the platform's disappearing message feature and its implications for online safety and Section 230.  Snapchat is actively combating this issue using AI and enhanced safeguards.

Micron Plunges On Weakness, Musk Wields Political Power | Bloomberg Technology

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Micron's Stock Plummets and Elon Musk's Political Influence

Micron's stock is down over 70%, experiencing its worst day since March 2020.

Micron's outlook missed expectations by 12%.

High-bandwidth memory for AI applications was anticipated to drive growth, but an inventory crunch impacted demand.

Despite 400% growth in AI demand and sales, it hasn't significantly boosted revenue yet due to the nascent stage of high-bandwidth memory.

An investor comments on Micron's boom-and-bust cycle and suggests the current situation might be a buying opportunity.

Elon Musk's Impact on US Government Shutdown

Elon Musk used social media to oppose a government funding bill, influencing President-elect Trump and others.

Musk is building a team to improve government efficiency, potentially hiring from the Boring Company and former Trump administration.

Musk's team aims to reduce government spending and size.

Apple News: Subscription Service Cancellation and Other Updates

Apple halted its iPhone hardware subscription service project.

The European Commission is pushing Apple to open its iPhone system to rivals.

Apple is close to resolving an Indonesian ban on iPhone 16 sales after a $1 billion investment.

A possible TikTok ban in the US is looming, with the Supreme Court to hear the challenge.

Speculation surrounds the Supreme Court's potential ruling, considering President-elect Trump's past stance on TikTok.

Beyond the ban, potential divestment and sale of TikTok's US operations are discussed.

ByteDance's unwillingness to sell and China's export rules complicate a potential sale.

A lawsuit claims Snapchat aided in the sale of counterfeit drugs, potentially impacting Section 230.

Snapchat's disappearing messages feature is highlighted as a factor contributing to the issue.

Snapchat's efforts to combat drug sales include AI technology, account blocking, and strengthened safeguards.