Consumer Tech News (Sep 8-Sep 14): Gaming Industry Biggies Facing Accusations For Decieving Players, Apple Launches iPhone 16 & More

Lekha Gupta

September 15, 2024

According to investors and recent financial reports, the technology sector is experiencing broad weakness despite the buzz around artificial intelligence (AI). Many companies are still struggling with the recession that started in 2022.

Gaming, Streaming Platform & TV

Seven of the gaming industry’s biggest names—Epic Games, Electronic Arts Inc. (NASDAQ:EA), Roblox Corporation (NYSE:RBLX), Microsoft Corp.‘s (NASDAQ:MSFT) Activision Blizzard, Mojang Studios, Tencent Holding Ltd. (OTC:TCEHY) Supercell, and UbiSoft Entertainment Inc. (OTC:UBSFF) —are facing new accusations from the European Consumer Organisation (BEUC) of deceiving players into overspending on in-game purchases.

UbiSoft faces pressure from a minority shareholder to go private following the release of Star Wars Outlaws.

Martyn Ware, co-founder of the synth-pop band Heaven 17, has publicly rejected an offer from Take-Two Interactive Software, Inc.’s (NASDAQ:TTWO) Rockstar Games to license the group’s hit song “Temptation” in the upcoming Grand Theft Auto 6 (GTA 6).

Netflix Inc’s (NASDAQ:NFLX) mobile gaming catalog has surpassed 210 million downloads, marking a notable milestone in the streaming company’s expansion into the gaming industry.

Microsoft recent overhaul of Xbox Game Pass has brought significant changes to the subscription service, impacting how gamers access some of the industry’s anticipated titles.

Pay-TV provider DirecTV lodged a complaint against Walt Disney Co. (NYSE:DIS) with the Federal Communications Commission, accusing the mouse house of “bad faith” negotiations.

Read: DirecTV And Disney’s Couldn’t Even Agree On Bringing ABC Temporarily Back For The Trump-Harris Debate

Smartphones

Apple Inc. (NASDAQ:AAPL) introduced the iPhone 16 series, which is “designed for Apple Intelligence from the ground up,”

The iPhone 16 series will be powered by ARM Holdings’ (NASDAQ:ARM) latest chip technology, designed to improve AI capabilities.

Related: iPhone 16 Series Production Data Unveiled By Top Apple Analyst: 9M To 16M Units Shipments For August And September Expected

Apple has commenced the production of its newly launched iPhone 16 series in India, reflecting a broader trend among tech giants.

Apple unveiled the Apple Watch Series 10, featuring a larger display and thinner design. The company also announced the AirPods 4, with the price starting at $129, while the AirPods 4 ANC is priced at $179.

Apple is reportedly in discussions with Micron, Tata Group and other Indian chip manufacturers to procure semiconductors for its locally-produced iPhones.

Chinese tech heavyweight Huawei Technologies’ newest tri-fold smartphone, the Mate XT, attracted 1.3 million orders within seven hours of opening reservations.

Read: Apple Watch Ultra 3 Announcement Unlikely At Monday’s ‘Glowtime’ Event, Says Top Analyst: ‘I Also Wouldn’t Rule Outâ€¦’

Apple seems to have silently phased out its controversial FineWoven iPhone cases, as they are no longer available on the company's website.

Technology

Meta Platforms, Inc. (NASDAQ:META), Snap Inc. (NYSE:SNAP), and ByteDance-owned TikTok have announced a joint initiative to combat the spread of suicide and self-harm content online.

In a strategic move to enhance its product offerings, Qualcomm Inc. (NASDAQ:QCOM) is reportedly contemplating the acquisition of certain segments of Intel Corp. (NASDAQ:INTC).

Nvidia Corp. (NASDAQ:NVDA) rival Groq announced on Tuesday that it will deploy AI in Saudi Arabia in 2024, in partnership with Aramco Digital, at the ongoing Global AI Summit (GAIN) in Riyadh, Saudi Arabia.

Alphabet Inc. (NASDAQ:GOOG) subsidiary Google underscored the importance of empowering users with fact-check tools amid the rising use of AI, at the third edition of the Global AI Summit (GAIN) in Riyadh, Saudi Arabia.

In response to a global IT outage triggered by a faulty software update, Microsoft has announced plans to host a cybersecurity summit.

Microsoft has reportedly laid off 650 employees in its gaming division, months after the company laid off 1,900 employees following its $68.7 billion acquisition of Activision Blizzard.

Samsung Electronics (OTC:SSNLF) instructed its global subsidiaries to decrease sales and marketing staff by around 15% and administrative staff by up to 30%.

Also Read: Mark Zuckerberg Live Event Sold Out Stadium: Meta CEO Attracted Thousands Eager To Hear Him Speak On ‘The Next Decade Of Social, Technology, And AI’

Elon Musk

Tesla and SpaceX CEO Elon Musk has expressed his astonishment at YouTube’s decision to restrict teenagers’ access to certain health and fitness videos.

Read: Elon Musk Liked The Camera On iPhone 15, But iPhone 16 Doesn’t Get Much Love From The Techno King: Here’s What He Said

Musk revealed that Tesla's Dojo 2 supercomputer should be in volume production by the end of 2025. The tech mogul expressed confidence in Dojo's potential but noted that its true capabilities would only be known after the third major iteration, expected in late 2026.

Artificial Intelligence

OpenAI, the AI research lab, has launched a new model, â€˜o1', which is the first in a series of "reasoning" models. This model can answer complex questions faster than a human. The company has also introduced a smaller, more affordable version, â€˜o1-mini'.

ChatGPT-parent OpenAI is reportedly in discussion to raise $6.5 billion in equity financing, which could bring its valuation to $150 billion.

OpenAI CEO Sam Altman faced backlash from ChatGPT subscribers after he responded to a user's question about new voice features.

Also Read: Bipartisan Coalition Of 42 State AGs Urges Congress To Mandate Surgeon General Warnings On Social Media Apps Like TikTok, X, And Meta’s Instagram To Address Growing Mental Health Concerns

Google's artificial intelligence model, PaLM2, has come under the radar of Europe's privacy watchdog over concerns related to the handling of personal data.

Mark Cuban, the billionaire entrepreneur and part-owner of the Dallas Mavericks, has publicly praised Elon Musk’s AI chatbot, Grok, to Vice President Kamala Harris’ immigration viewpoint, terming it as “accurate”.

Recommended

Top AI Stock (It's Not MSFT, GOOGL, AMZN or AAPL) - Ad

President Trump and Elon Musk Issue Stark Warning - Ad

Why Are These Strange "Accidents" Happening All Over America? - Ad

NVDA, TMUS, VVOS, SOFI, TSLA are the top trending stocks on Wednesday.

Memories of the earliest Tupperware parties, from one who was there

ALLISON PARK, Pa. (AP) — Sometimes something takes your thinking back to an isolated memory of decades ago. And without your bidding, other memories — memories of that era of your life — come flooding in.

The "Amazon Coin" -- To Be Bigger Than Bitcoin?

The "Amazon Coin" -- To Be Bigger Than Bitcoin? - Ad

Starting September 23rd, this tiny 3-cent crypto could partner with one of the biggest companies in the world... Amazon. Declassified video reveals "Amazon Coin" ahead of $27 trillion crypto revolution. One team of crypto experts have identified it as the most promising crypto of 2024.

Asia Markets Mixed, Europe Advances; Crude Oil Steady While Gold Holds Above $2,600 - Global Markets Today While US Slept

US markets closed mixed on 9/16, with S&P 500 up and Nasdaq down due to tech declines. Asian markets mostly up, Eurozone and commodities rising.

Betting on elections threatens confidence in voting and should be banned, US agency says

ATLANTIC CITY, N.J. (AP) — Allowing people to bet on the outcome of poses a great risk that some will try to manipulate the betting markets, which could cause more harm to the already fragile confidence voters have in the integrity of results, according to a federal agency that wants the bets to be banned.

Revealing Index Soars 49% - Smart Investors Are Moving In

Revealing Index Soars 49% - Smart Investors Are Moving In - Ad

The Gold Miners' Index is up 49% in recent months, surpassing even Gold's performance. Yet, ONE stand-out miner has even doubled Gold's historic rally over the last 6 months with room to run as analysts expect it to double from here! Don't miss the young company that has already captured the interest of 40+ investment banks.

Why Intuitive Machines' Stock Is Blasting Off In Extended Trading

Intuitive Machines shares are blasting higher in extended trading Tuesday after the company announced it was awarded a NASA contract.

Bitcoin And Cryptocurrency Market Set For 'Biggest Bull Run Ever,' Says Trader, As Federal Reserve Interest Rate Decision Takes Center Stage

Ahead of the Federal Reserve’s upcoming rate announcement, prominent crypto trader Michaël van de Poppe has forecasted a significant bull run in the cryptocurrency market.

DO NOT Make Another Trade Without Seeing This First

DO NOT Make Another Trade Without Seeing This First - Ad

Starting September 23... a huge secret of the markets could help you consistently target gains like: 126%... 245%... even 463% or more... often in 30 days or less... No matter what the market does next.

NVIDIA, Salesforce Announce Strategic AI Collaboration: What To Know

NVIDIA and Salesforce on Tuesday announced a strategic collaboration to develop advanced AI capabilities for enterprises with autonomous agent and interactive avatar experiences. Here's what to know.

Starmer and Meloni holding talks on curbing migrant boats reaching UK and Italy

ROME (AP) — U.K. Prime Minister is meeting Italian in Rome on Monday, as the two very different politicians, from left and right, seek common cause to curb .

The Last Time Gold Flashed This Warning Sign, the Market Dropped 80%

The Last Time Gold Flashed This Warning Sign, the Market Dropped 80% - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

Red Lobster exits Chapter 11 bankruptcy protection

Red Lobster, known for its affordable seafood and cheddary biscuits, has exited Chapter 11 bankruptcy protection.

GE Vernova's Gas Power Services Underappreciated & Poised For Growth: Analyst

GE Vernova upgraded to Buy by BofA Securities, price target raised from $200 to $300. Analyst sees potential in Gas Power Services.

Elon Musk: Without This Company, "Civilization Will Crumble"

Elon Musk: Without This Company, "Civilization Will Crumble" - Ad

Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip? Ex-Wall Street CEO Dylan Jovine calls this "the easiest windfall from the AI revolution." Even ChatGPT founder Sam Altman says AI depends on this company's work...

Federal Reserve is set to cut interest rates for the first time in 4 years

WASHINGTON (AP) — Having all but tamed inflation, the Federal Reserve is poised to do something Wednesday it hasn’t done in more than four years: Cut its benchmark interest rate, a step that should lead to lower borrowing costs for consumers and businesses just weeks before the presidential election.

Trump Vs. Harris: Vice President's Strong Debate Showing, Taylor Swift Endorsement Do Not Move Needle On Her Poll Numbers As Pollster Cites This Reason

Strong debate performance hasn't translated to strong voter preference for Vice President Kamala Harris, according to a new poll.

2024 Oil Boom

2024 Oil Boom - Ad

There is a much better way to profit from oil in 2024. It's NOT oil stocks, futures, or anything you've likely heard about. In fact, one man used it build a small $1,000 investment into a $100,000 income stream over fifty years.

DHL sues MyPillow, alleging company founded by Mike Lindell owes $800,000

MINNEAPOLIS (AP) — Package is suing MyPillow, alleging the company synonymous with its founder, chief pitchman and election denier Mike Lindell owes nearly $800,000 for unpaid bills.

Amazon is requiring workers to be in the office five days a week starting next year

is reverting to its pre-pandemic policy and will require corporate employees to be five days a week starting next year, CEO Andy Jassy said Monday.

America Can't Afford a Harris Presidency

America Can't Afford a Harris Presidency - Ad

New research from Jim Rickards - former advisor to the CIA - reveals shocking predictions about an "Election Meltdown" coming this November. Jim's showing all American patriots why an "Election Meltdown" could crash stocks by 50%, lead to the final demise of the dollar, even cause violent riots in the streets.

Tesla's Chinese Competitor NIO Begins Deliveries Of New ES8 In Europe Amid EU Tariff Concerns: Report

NIO has reportedly started delivering the new ES8, built on the NT 2.0 platform, in Europe, following the SUV's launch three months earlier.

OnlyFans Beats Apple, Google, Netflix, And Other Big Tech Companies In Revenue Per Employee: Here's The Down Low

Content-sharing platform OnlyFans has come out on top against big tech companies like Apple Inc., Alphabet Inc.'s Google, Netflix Inc., and others in terms of revenue generation per employee.

Oil Surge Predicted...But Are You Ready?

Oil Surge Predicted...But Are You Ready? - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

US widens indictment of Russians in 'WhisperGate' conspiracy to destroy Ukrainian and NATO systems

BALTIMORE (AP) — The U.S. Justice Department has widened its indictment of Russians in the so-called ‘WhisperGate’ malware attack aimed at destroying computer systems in Ukraine and 26 NATO allies including the United States.

Rogers Communications buys out Bell stake in Maple Leafs Sports for $3.5 billion

TORONTO (AP) — Rogers Communications is buying out Bell’s 37.5% share of Maple Leaf Sports & Entertainment for $4.7 billion ($3.5 billion U.S.), giving it 75% ownership of the sports conglomerate.

This Is How the AI Bull Market Ends

This Is How the AI Bull Market Ends - Ad

The AI bull market as we know it right now will end...And all the big popular AI stocks investors are piling into right now will NOT be the where the biggest returns will come from. And for investors who don't know how the market is changing and where it's going...They could end up left behind.

Turkey's Spy Chief Meets With Hamas To Discuss Cease-Fire In Gaza: Reports

Turkey's intelligence chief met with Hamas in Ankara to discuss Gaza ceasefire negotiations, as Turkey denounces Israel's assault and conducts intensive diplomacy.

Gavin Newsom Signs Laws Aimed At Curbing Deepfakes Around Elections: 'Critical That We ensure AI Is Not Deployed To Undermine The Public's Trust'

California Governor Gavin Newsom has signed three bills to restrict the use of artificial intelligence in creating misleading political ads, making it illegal to distribute deepfakes related to elections around Election Day and requiring social media platforms to remove deceptive material.

Don't Buy Another Stock Until You See This

Don't Buy Another Stock Until You See This - Ad

We face a widespread collapse unlike anything we've seen in our lifetimes. By taking 4 simple steps today you can stay safe from the coming catastrophe. Which is why I want to rush you my new book "Midnight in America" FOR FREE.

The 2024 Olympics were a success for Paris but a calamity for some of its businesses

PARIS (AP) — Parisian business owners and hotel managers were promised a summer like no other. Millions of tourists would flood the French capital for the and , generating huge profits for Paris and its region.

Top 3 Tech And Telecom Stocks That May Rocket Higher This Quarter

The most oversold stocks in the communication services sector presents an opportunity to buy into undervalued companies.

U.S. Loses to China in Shocking WAR GAMES

U.S. Loses to China in Shocking WAR GAMES - Ad

Pentagon says new "living missile" key to winning a future conflict. Investors stand to reap 35,960% on shares of the small defense contractor that makes powerful new weapon.

Harris-Walz Campaign Targeted By Russian Hackers, Microsoft Threat Analysis Center Notices Shift In Tactics By Attackers

Microsoft has reported that Russian cyber-influence operations are now targeting the Kamala Harris-Tim Walz campaign for the 2024 U.S. presidential election, with Russia, Iran, and China deploying disinformation tactics to affect voter sentiment.

No 'Razzle-Dazzle' With Latest iPhone, But Apple Wowed With These 2 'Glowtime' Announcements, Says Gurman

Apple, Inc. unveiled iPhone 16 at the Glowtime event last week did not live up to the hype but it made up for some of the disappointment with its hearing aid and health upgrades, said Bloomberg's Mark Gurman on Sunday.

Collect 10%+ Dividends From AI's Explosive Growth?

Collect 10%+ Dividends From AI's Explosive Growth? - Ad

This one-of-a-kind fund is set to pay out a tsunami of profits to shareholders... Giving you the chance to collect 10%+ dividend yields, year after year! In his brand-new "AI Income Playbook," Marc Lichtenfeld gives you the full scoop on this breakthrough fund... Including its name, ticker symbol, and profit potential.

NBA Legend Shaq Shows Off His New Widebody Carbon Fiber Tesla Cybertruck: Elon Musk Has A One Word Reaction

NBA legend Shaquille O'Neal, also known as Shaq, showed off his new Tesla Cybertruck featuring a widebody carbon fiber design, which is the first of its kind in the world.

Treasury recovers $1.3 billion in unpaid taxes from high wealth tax dodgers

WASHINGTON (AP) — The IRS has collected $1.3 billion from since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden's signature signed into law in 2022.

4 Cryptos Set to Outperform Bitcoin in 2024

4 Cryptos Set to Outperform Bitcoin in 2024 - Ad

Chris Rowe, the man who spotted 44 different coins that have returned over 100%, is now making the biggest crypto call of his ENTIRE career.... Because a powerful crypto event will trigger on June 24th... Sending hundreds of tiny cryptos soaring 5X, 50X, even 100X -- in just days.

TransDigm, BJ's Wholesale, AbbVie And More On CNBC's 'Final Trades'

TransDigm Group (TDG), BJ's Wholesale (BJ), VanEck Semiconductor ETF (SMH), and AbbVie (ABBV) were recommended as top trades on CNBC's Halftime Report.

Trending Now