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Tag: Tech

Jeremy Siegel: With tech down for the count, a 'surprise' move could lead the market higher

Jeremy Siegel: With tech down for the count, a 'surprise' move could lead the market higher

Finance
The stock market can "absolutely" go higher even without technology stocks leading the way, Wharton School finance professor Jeremy Siegel told CNBC on Friday. Tech stocks, which have delivered the best returns in recent years, have been hammered lately. October was their worst month since 2008. "We might get surprised by [investors] moving into some more dividend stocks even in a rising interest rate environment because bonds wouldn't be good and people who don't want the risk of tech might say, 'Hey, I want stocks that have had long-term good dividend performance for income,'" Siegel said on "Closing Bell." ...
Chinese 'gait recognition' tech IDs people by how they walk

Chinese 'gait recognition' tech IDs people by how they walk

Technology
Chinese authorities have begun deploying a new surveillance tool: "gait recognition" software that uses people's body shapes and how they walk to identify them, even when their faces are hidden from cameras. Already used by police on the streets of Beijing and Shanghai, "gait recognition" is part of a push across China to develop artificial-intelligence and data-driven surveillance that is raising concern about how far the technology will go. Huang Yongzhen, the CEO of Watrix, said that its system can identify people from up to 50 meters (165 feet) away, even with their back turned or face covered. This can fill a gap in facial recognition, which needs close-up, high-resolution images of a person's face to work. "You don't need people's cooperation for us to be able to recognize their id...
China 'put tiny chips in US PCs to steal tech secrets'

China 'put tiny chips in US PCs to steal tech secrets'

Business
Tiny chips inserted in US computer equipment manufactured in China were used as part of a vast effort by Beijing to steal US technology secrets, according to Bloomberg. Apple and Amazon have distanced themselves from claims that they were among US companies targeted by the Chinese hackers.Bloomberg reported that the chips were inserted in computer motherboards manufactured in China for US-based supplier Super Micro Computer.It said dozens of large US firms and agencies were using the hardware - but Amazon first discovered the chips, the size of a grain of rice, during a security review it ordered after buying a software firm called Elemental three years ago.Bloomberg said the retail-to-cloud computing company alerted US authorities at the time, resulting in an inquiry and a...
White House 'preparing to investigate tech giants'

White House 'preparing to investigate tech giants'

Technology
The White House has drafted an executive order for Donald Trump which would instruct federal agencies to investigate the business practices of technology giants including Facebook and Google. Without naming specific companies, a draft copy of the order, obtained by Bloomberg, instructs antitrust (competition law) authorities to "thoroughly investigate whether any online platform has acted in violation of the antitrust laws".Other federal agencies are instructed to develop recommendations on how to "protect competition among online platforms and address online platform bias" within a month by the order, which has not been finalised.It is currently in its preliminary stages and federal agencies will consult on its contents before it goes to the president.Mr Trump publicly acc...
An analyst warns investors against falling for a widely-held assumption about rising tech stocks

An analyst warns investors against falling for a widely-held assumption about rising tech stocks

Finance
Come Monday, the tech-heavy Nasdaq will try to kick-off its second positive week in a row. But it's poised to do so without small cap tech and Chinese internet companies. According to veteran market watcher Nicholas Colas, much of Wall Street is mistakenly assuming that the technology sector's big surge is broad-based. "It's largely a large cap phenomenon," the DataTrek Research co-founder said Friday on CNBC's "Trading Nation." The Nasdaq is now up almost 25 percent over the past 52-weeks, while the broader S&P 500 is up 16 percent in that same p...