Under new leadership, Starbucks (SBUX) CEO Brian Niccol will cut costs. The company said on Monday that it will remove 1,100 corporate jobs.
Starbucks faces relentless headwinds in consumer behavioral shifts. Sales are falling, so the company needs to simplify its structure, remove management layers and duplications, and create smaller, more nimble teams, according to CEO Niccol. Starbucks intends to run more efficiently, be more accountable, reduce its complexity, and achieve better integration.
Apple (AAPL) is going big in the U.S. market. The firm will spend $500 billion in a U.S. investment, which will create 20,000 jobs over four years. Apple said it is working with Foxconn, previously known as Hon Hai Precision Industry. The partnership will result in a 250,000-square-foot facility in Houston.
Investors should exercise some caution in this spending claim. In 2021, Foxconn mostly abandoned its $10 billion Wisconsin project. Its spending dropped to just $672 million.
AI stocks are under selling pressure again. On Monday, Broadcom (AVGO), Nvidia (NVDA), Micron (MU), and AMD (AMD) fell. INTC stock is at the highest risk of losing more. The stock traded above $26 on vague rumors that Taiwan Semiconductor (TSM) and Broadcom would invest or buy Intel’s businesses.
Despite weak stock markets, Berkshire (BRK-B) added 4.11%. On the weekend, the conglomerate posted strong profits. The firm, run by Warren Buffett, posted a full-year operating income of $47.44 billion.
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