There has been a decrease in sales of smartphones, which has impacted component vendors such as Qualcomm. Qualcomm’s Q3 earnings for 2023 (fiscal year runs from October to September) indicate a 25 per cent decrease in sales of mobile chips, compared to the previous year, which amounted to $5.26 billion. Meanwhile, the net income dropped by 52 per cent year over year last quarter.Qualcomm predicts that there would be a further decrease in handset sales this year by at least a high-single-digit percentage. The company attributes the downfall in sales to a weaker global economy and a slow recovery in China. In response to lower earnings, Qualcomm plans to reduce expenses by laying off employees. Although the company had already cut 415 jobs at its San Diego headquarters earlier this year, its securities filing indicates that further reductions will be made.Citing unstable economic and demand situations, Qualcomm plans to restructure and reduce their workforce. The company says it is still finalising the plans but expects to pay significant restructuring fees during the fourth quarter of fiscal 2023. “Given the continued uncertainty in the macroeconomic and demand environment, we expect to take additional restructuring actions,” the filing says. “While we are in the process of developing our plans, we currently expect these actions to consist largely of workforce reductions, and in connection with any such actions we would expect to incur significant additional restructuring charges, a substantial portion of which we expect to incur in the fourth quarter of fiscal 2023. We currently anticipate these additional actions to be substantially completed in the first half of fiscal 2024.” In September 2020, Qualcomm had around 51,000 employees. During a call with analysts, Qualcomm’s CEO Cristiano Amon also revealed that the company intends to reduce costs. Chief Financial Officer Akash Palkhiwala added that the company’s cost-cutting measures would persist into the following fiscal year.

Revenue from operations rose 37.5% YoY to INR 89.4 Cr as MapmyIndia saw a strong growth across segments Total expenses rose over 48% to INR 55.8 Cr during the quarter under review from INR 37.7 Cr, with employee expenses accounting for the biggest chunk of it MapmyIndia said it continues to see an uptick in its IoT devices, with multiple wins from its B2B and B2B2C customers, and Mappls gadgets Geotech startup MapmyIndia on Friday (August 4) reported a 32.2% year-on-year (YoY) rise in consolidated net profit for the quarter ended June 2023 to INR 32 Cr on the back of a strong growth across segments. The company had reported a net profit of INR 24.2 Cr in the year-ago quarter. On a quarter-on-quarter (QoQ) basis, MapmyIndia’s profit grew 13.1% from INR 28.3 Cr. Revenue from operations rose 37.5% to INR 89.4 Cr in Q1 FY24 from INR 65 Cr in the year-ago quarter. It grew 23.4% from INR 72.5 Cr in the preceding March quarter.  While the map-led business contributed INR 66 Cr to the operating revenue, the internet of things (IoT)-led business accounted for INR 22.8 Cr. The startup said in a statement that it continues to see an uptick in its IoT devices, with multiple wins from its B2B and B2B2C customers, and Mappls gadgets. “Our strong Q1 YoY revenue growth was broad based with A&M (automotive and mobility tech) up 24% and C&E (consumer tech & enterprise digital transformation) up 51% on the market side. On the products side, map and data was up 41% and platform and IoT was up 35%,” MapmyIndia CEO and ED Rohan Verma said in a statement. The startup said it also bagged multiple new orders in Q1 FY24 across two-wheeler EV segment, with key go-lives including Hero MotoCorp’s new Harley Davidson X440 vehicle, the flagship Hero App companion app, and Ultraviolette F77 EV bike. Besides, it said that on the C&E side, multiple Open Network Digital Commerce (ONDC) enabled apps are up for APIs, which is further enabling MapmyIndia’s increased presence in the growing ONDC ecosystem. As a data and technology products and platforms company, MapmyIndia offers proprietary digital maps as a service (MaaS), software as a service (SaaS) and platform as a service (PaaS). Its product segment maps and data includes MaaS offerings, while platform & IoT includes SaaS and PaaS offerings. The company’s total revenue, including other income, jumped 36.9% YoY and 17.8% QoQ to INR 97.7 Cr during the quarter under review. Meanwhile, MapmyIndia’s total expenses rose over 48% to INR 55.8 Cr during the quarter under review from INR 37.7 Cr in Q1 FY23. Employee benefit expenses continued to contribute the highest to the startup’s total expenses – growing to INR 17.3 Cr in the quarter under review from INR 16.2 Cr in the year-ago period. On the other hand, its total cost of material surged over 90% YoY to INR 14.2 Cr in Q1. Technical services outsource and marketing and business promotion expenses grew over 500% YoY to INR 1.8 Cr and 6.4% to INR 1.7 Cr, respectively. MapmyIndia’s EBITDA rose 25.2% YoY to INR 37.4 Cr in Q1 FY24, while it grew 29.2% on a QoQ basis. However, EBITDA margin contracted 410 basis points YoY to 41.9% during the quarter under review. It expanded 190 basis points QoQ from 40%. The company claimed it recorded its highest-ever quarterly revenue, EBITDA and profit during the quarter under review.  Along with its Q1 FY24 results, MapmyIndia announced the re-appointment of Rohan Verma as the whole time director of the company for a period of 5 years after the expiry of his tenure on March 31, 2024. Its board also approved the allotment of 3.9 Lakh equity shares of INR 2 each to the ESOP holders who have exercised their vested options as per ESOP policy of 2008 of the company.  Ahead of its results, MapmyIndia shares ended today’s trading session marginally lower at INR 1,536.95 on the BSE.

By Market Capitalisation.Net Sales.Net Profit.Total Assets.Excise.Other Income.Raw Materials.Power & Fuel.Employee Cost.PBDIT.Interest.Tax.EPS.Investments.Sundry Debtors.Cash/Bank.Inventory.Debt.Contingent Liabilities. Screen Crit AbrasivesAerospace & DefenceAgricultureAir ConditionersAirlinesAluminium & Aluminium ProductsAmusement Parks/Recreation/ClubAquacultureAuto AncillariesAuto Ancillaries – Air Conditioning PartsAuto Ancillaries – Auto, Truck & Motorcycle PartsAuto Ancillaries – Axle shaftsAuto Ancillaries – BearingsAuto Ancillaries – BrakesAuto Ancillaries – Bus BodyAuto Ancillaries – Castings/ForgingsAuto Ancillaries – ClutchesAuto Ancillaries – Diesel EnginesAuto Ancillaries – Engine PartsAuto Ancillaries – GearsAuto Ancillaries – Head lamps & lightsAuto Ancillaries – OthersAuto Ancillaries – PistonsAuto Ancillaries – Seating covers & partsAuto Ancillaries – Sheet MetalsAuto Ancillaries – Shock absorbersAuto Ancillaries – Spare Parts & AccessoriesAuto Ancillaries – SpringsAuto Ancillaries – Tyres & Rubber ProductsAuto Ancillaries – WheelsAuto AncillaryAutomobile – 2 & 3 WheelersAutomobile – Auto & Truck ManufacturersAutomobile – Dealers & DistributorsAutomobile – LCVS/ HVCSAutomobile – Passenger CarsAutomobile – TractorsAutomobile – Trucks/LCVsBank – PrivateBank – PublicBatteriesBeveragesBiotechnology & Medical ResearchBPO/ITeSBreweries & DistilleriesCable & D2HCablesCarbon BlackCementCement & Construction MaterialsCeramics/Marble/Granite/SanitarywareChemicalsCigarettes/TobaccoCoalCommodity ChemicalsCompressors / PumpsComputer PeripheralsConstruction – InfrastructureConstruction – Real EstateConstruction – Residential & Commercial ComplexesConsumer FoodContainers & PackagingCourier ServicesCyclesDefenceDetergents & SoapsDiamond & JewelleryDiversifiedDiversified ChemicalsDomestic AppliancesDyes & PigmentsEducational InstitutionsElectric EquipmentElectric Equipment – Boilers / TurbinesElectric Equipment – SwitchgearsElectric Equipment – TransformersElectrodes & Electrical EquipmentsElectrodes & Welding EquipmentElectronic GoodsElectronics – ComponentsEngineeringEngineering – ConstructionEngineering – Industrial EquipmentsETFFastenersFerro ManganeseFertilizersFilm Production, Distribution & EntertainmentFinance – HousingFinance – InvestmentFinance – NBFCFinance – OthersFinance – Stock BrokingFinance Term LendingFish/Poultry & Meat ProductsFood & Drug RetailingFood ProcessingFootwearGas DistributionGlass & Glass ProductsGoldGold ETFGround Freight & Logistics ServicesHospital & Healthcare ServicesHotel, Resort & RestaurantsHousehold & Personal ProductsInfrastructureIron & SteelIT – EducationIT – NetworkingIT Services & ConsultingLabs & Life Sciences ServicesLaminates/DecorativesLeatherLeisure ServicesLife & Health InsuranceLogisticsLPGLubricantsMediaMedical Equipment/Supplies/AccessoriesMetals & MiningMetals – Castings/ForgingsMetals – Non FerrousMisc. Commercial ServicesMiscellaneousMultiline Insurance & BrokersOil Exploration and ProductionOnline Servicesother agriculture productsOther Construction MaterialsOthers-Industrial Gases & FuelsOthers-ManufacturingPackaging – FilmsPackaging – Packaging MaterialsPackaging – PolyfilmsPackaging – Sacks and BagsPackaging Materials-Containers & PackagingPackaging Materials-Plastic ProductsPaintsPaper & Forest ProductsPaper & Paper ProductsPesticides & AgrochemicalsPharmaceuticals & DrugsPhotographic ProductsPlastic ProductsPlastic Products – OthersPlastics – Moulded Articles and FurnituresPlastics – Pet Bottels, Jars & ContainersPlastics – Self Adhesive TapesPlastics – ThermoplasticsPlastics – Tubes/Pipes/Hoses & FittingsPortsPower Generation/DistributionPrinting & PublishingPrinting & StationeryPrinting And PublishingRailways WagonsRatingsReal Estate OperationsReal Estate Rental, Development & OperationsRefineriesRefractoriesReinsuranceRenewablesRetailingRubber ProductsShip BuildingShippingSoftwareSolvent ExtractionSpeciality ChemicalsSpeciality RetailersSpecialty Mining & MetalsSugarTea/CoffeeTelecommunication – EquipmentTelecommunication – Service ProviderTelecommunications ServicesTextile – MachineryTextile – SpinningTextilesTextiles & ApparelTradingTransmission Towers / EquipmentsTransport InfrastructureTravel ServicesTV Broadcasting & Software ProductionVegetable Oils & ProductsWatches & AccessoriesWood & Wood Products Screen Code

Ever since the ChatGPT API opened up, all sorts of apps have been strapping on AI functionality. I’ve personally noticed this a lot in email clients: Apps like Spark and Canary are prominently bragging about their built-in AI functionality. The most common features will write replies for you, or even generate an entire email using only a prompt. Some will summarize a long email in your inbox or even a thread. It’s a great idea in the abstract, but I think integrations like these conspire to make communication less efficient instead of more efficient. You should feel free to try such features—they’re fun!—but don’t expect them to change your life. Here’s why. The Ouroboros of Communication We are all overwhelmed with email and communication in general. It’s easy to look at this as a tech problem because it’s happening on screens. It’s not a tech problem, though—at least, it’s not only a tech problem. It’s a social problem. You could say that you get too many emails, and that might be accurate. Another way of saying the same thing is that more people are trying to contact you than you feel mentally capable of responding to. Trying to solve a social problem with tech often only creates new social problems. For example, instead of writing an email myself inviting you to come over and have some beers, suppose I asked ChatGPT to write that email. The result is 220 words long, including an introduction (“I hope this email finds you well!”), an explanation of the reasons people might want to have beers together (“It’s the perfect opportunity to catch up, share stories, and simply have a good time”), and a few oddly-worded details made up out of thin air (“I’ll make sure to create a comfortable and welcoming atmosphere, complete with some snacks to complement our beer tasting experience.”) Most people, seeing an email this long, are going to feel too overwhelmed to read it. Maybe they’ll use AI on their end to summarize the message. I asked ChatGPT to summarize the long email into a single sentence, and it essentially gave me back my initial prompt: “Would you like to come over for beers?” The American philosopher Homer Simpson once called alcohol “the cause of, and solution to, all life’s problems.” AI, in this context, serves a similar function: It creates a problem (the emails are too long) and then solves them (summarizing the emails). It’s an ouroboros, a snake eating its own tail, a technology that exists in part to solve the problems it is creating. It’s better, in my opinion, to look at the cultural assumptions instead of reaching for unnecessarily complicated technological ones. What cultural forces are making me think I can’t just write a one-sentence email? Can I ignore that, if it makes communication better? I asked ChatGPT to summarize the long email into a single sentence, and it essentially gave me back my initial prompt: “Would you like to come over for beers?” Cultural problems, of course, are harder to grasp than technological ones. You could start sending one-sentence emails right now, but some people might interpret that as rude, or at the very least odd. But any individual—or organization—looking to become more efficient should think about these things. Unless, of course, you want a bot pretending to know that you have beers “ranging from local brews to classic favorites” in your fridge right now. We Don’t Know The Contexts in Which AI Will Work Best My friend Kay-Kay and I, for months, had an in-joke that became a ritual: tapping LinkedIn’s conversational auto-recommendations. This social network, for some reason, offers suggested replies to messages. It was never not hilarious. Courtesy of Justin Pot

Qualcomm has appointed Savi Soin as senior vice president and president of Qualcomm India. Soni’s appointment will be effective immediately and he will be reporting directly to Jim Cathey, chief commercial officer, Qualcomm Technologies. Soni will lead and execute Qualcomm’s strategy in India by fostering relationships with industry partners and the Government of India across mobile, automotive, semiconductor, industrial & IoT and communication infrastructure sectors. Soin has been with Qualcomm for more than 20 years with the last 10 years as part of Qualcomm’s senior leadership team. During his tenure, he has helped shape the strategic direction for the company in several leadership roles. Most recently, Soin led the Global Strategic Partnerships and Business Incubation team for Qualcomm Technologies, responsible for new businesses and executing strategic relationships. “It’s a privilege to return home. India has an enormous opportunity to drive the global digital transformation with its scale and resources. My objective is to partner with the Indian ecosystem to accelerate this transformation using Qualcomm’s technology innovations across sectors,” said Savi Soin, president of Qualcomm India.Rajen Vagadia, Qualcomm India president for the last 5 years, will relocate to Qualcomm headquarters in San Diego and transition to a new role as a Vice President to lead Global Distribution and Global Carrier Strategy. Under his leadership, Qualcomm Technologies strengthened its position in India as an ecosystem enabler and leader in wireless technologies, built important relationships with stakeholders towards the roll out of 4G and 5G in India, and expanded its presence in industry segments like Automotive and IoT.

By Market Capitalisation.Net Sales.Net Profit.Total Assets.Excise.Other Income.Raw Materials.Power & Fuel.Employee Cost.PBDIT.Interest.Tax.EPS.Investments.Sundry Debtors.Cash/Bank.Inventory.Debt.Contingent Liabilities. Screen Crit AbrasivesAerospace & DefenceAgricultureAir ConditionersAirlinesAluminium & Aluminium ProductsAmusement Parks/Recreation/ClubAquacultureAuto AncillariesAuto Ancillaries – Air Conditioning PartsAuto Ancillaries – Auto, Truck & Motorcycle PartsAuto Ancillaries – Axle shaftsAuto Ancillaries – BearingsAuto Ancillaries – BrakesAuto Ancillaries – Bus BodyAuto Ancillaries – Castings/ForgingsAuto Ancillaries – ClutchesAuto Ancillaries – Diesel EnginesAuto Ancillaries – Engine PartsAuto Ancillaries – GearsAuto Ancillaries – Head lamps & lightsAuto Ancillaries – OthersAuto Ancillaries – PistonsAuto Ancillaries – Seating covers & partsAuto Ancillaries – Sheet MetalsAuto Ancillaries – Shock absorbersAuto Ancillaries – Spare Parts & AccessoriesAuto Ancillaries – SpringsAuto Ancillaries – Tyres & Rubber ProductsAuto Ancillaries – WheelsAuto AncillaryAutomobile – 2 & 3 WheelersAutomobile – Auto & Truck ManufacturersAutomobile – Dealers & DistributorsAutomobile – LCVS/ HVCSAutomobile – Passenger CarsAutomobile – TractorsAutomobile – Trucks/LCVsBank – PrivateBank – PublicBatteriesBeveragesBiotechnology & Medical ResearchBPO/ITeSBreweries & DistilleriesCable & D2HCablesCarbon BlackCementCement & Construction MaterialsCeramics/Marble/Granite/SanitarywareChemicalsCigarettes/TobaccoCoalCommodity ChemicalsCompressors / PumpsComputer PeripheralsConstruction – InfrastructureConstruction – Real EstateConstruction – Residential & Commercial ComplexesConsumer FoodContainers & PackagingCourier ServicesCyclesDefenceDetergents & SoapsDiamond & JewelleryDiversifiedDiversified ChemicalsDomestic AppliancesDyes & PigmentsEducational InstitutionsElectric EquipmentElectric Equipment – Boilers / TurbinesElectric Equipment – SwitchgearsElectric Equipment – TransformersElectrodes & Electrical EquipmentsElectrodes & Welding EquipmentElectronic GoodsElectronics – ComponentsEngineeringEngineering – ConstructionEngineering – Industrial EquipmentsETFFastenersFerro ManganeseFertilizersFilm Production, Distribution & EntertainmentFinance – HousingFinance – InvestmentFinance – NBFCFinance – OthersFinance – Stock BrokingFinance Term LendingFish/Poultry & Meat ProductsFood & Drug RetailingFood ProcessingFootwearGas DistributionGlass & Glass ProductsGoldGold ETFGround Freight & Logistics ServicesHospital & Healthcare ServicesHotel, Resort & RestaurantsHousehold & Personal ProductsInfrastructureIron & SteelIT – EducationIT – NetworkingIT Services & ConsultingLabs & Life Sciences ServicesLaminates/DecorativesLeatherLeisure ServicesLife & Health InsuranceLogisticsLPGLubricantsMediaMedical Equipment/Supplies/AccessoriesMetals & MiningMetals – Castings/ForgingsMetals – Non FerrousMisc. Commercial ServicesMiscellaneousMultiline Insurance & BrokersOil Exploration and ProductionOnline Servicesother agriculture productsOther Construction MaterialsOthers-Industrial Gases & FuelsOthers-ManufacturingPackaging – FilmsPackaging – Packaging MaterialsPackaging – PolyfilmsPackaging – Sacks and BagsPackaging Materials-Containers & PackagingPackaging Materials-Plastic ProductsPaintsPaper & Forest ProductsPaper & Paper ProductsPesticides & AgrochemicalsPharmaceuticals & DrugsPhotographic ProductsPlastic ProductsPlastic Products – OthersPlastics – Moulded Articles and FurnituresPlastics – Pet Bottels, Jars & ContainersPlastics – Self Adhesive TapesPlastics – ThermoplasticsPlastics – Tubes/Pipes/Hoses & FittingsPortsPower Generation/DistributionPrinting & PublishingPrinting & StationeryPrinting And PublishingRailways WagonsRatingsReal Estate OperationsReal Estate Rental, Development & OperationsRefineriesRefractoriesReinsuranceRenewablesRetailingRubber ProductsShip BuildingShippingSoftwareSolvent ExtractionSpeciality ChemicalsSpeciality RetailersSpecialty Mining & MetalsSugarTea/CoffeeTelecommunication – EquipmentTelecommunication – Service ProviderTelecommunications ServicesTextile – MachineryTextile – SpinningTextilesTextiles & ApparelTradingTransmission Towers / EquipmentsTransport InfrastructureTravel ServicesTV Broadcasting & Software ProductionVegetable Oils & ProductsWatches & AccessoriesWood & Wood Products Screen Code

By Market Capitalisation.Net Sales.Net Profit.Total Assets.Excise.Other Income.Raw Materials.Power & Fuel.Employee Cost.PBDIT.Interest.Tax.EPS.Investments.Sundry Debtors.Cash/Bank.Inventory.Debt.Contingent Liabilities. Screen Crit AbrasivesAerospace & DefenceAgricultureAir ConditionersAirlinesAluminium & Aluminium ProductsAmusement Parks/Recreation/ClubAquacultureAuto AncillariesAuto Ancillaries – Air Conditioning PartsAuto Ancillaries – Auto, Truck & Motorcycle PartsAuto Ancillaries – Axle shaftsAuto Ancillaries – BearingsAuto Ancillaries – BrakesAuto Ancillaries – Bus BodyAuto Ancillaries – Castings/ForgingsAuto Ancillaries – ClutchesAuto Ancillaries – Diesel EnginesAuto Ancillaries – Engine PartsAuto Ancillaries – GearsAuto Ancillaries – Head lamps & lightsAuto Ancillaries – OthersAuto Ancillaries – PistonsAuto Ancillaries – Seating covers & partsAuto Ancillaries – Sheet MetalsAuto Ancillaries – Shock absorbersAuto Ancillaries – Spare Parts & AccessoriesAuto Ancillaries – SpringsAuto Ancillaries – Tyres & Rubber ProductsAuto Ancillaries – WheelsAuto AncillaryAutomobile – 2 & 3 WheelersAutomobile – Auto & Truck ManufacturersAutomobile – Dealers & DistributorsAutomobile – LCVS/ HVCSAutomobile – Passenger CarsAutomobile – TractorsAutomobile – Trucks/LCVsBank – PrivateBank – PublicBatteriesBeveragesBiotechnology & Medical ResearchBPO/ITeSBreweries & DistilleriesCable & D2HCablesCarbon BlackCementCement & Construction MaterialsCeramics/Marble/Granite/SanitarywareChemicalsCigarettes/TobaccoCoalCommodity ChemicalsCompressors / PumpsComputer PeripheralsConstruction – InfrastructureConstruction – Real EstateConstruction – Residential & Commercial ComplexesConsumer FoodContainers & PackagingCourier ServicesCyclesDefenceDetergents & SoapsDiamond & JewelleryDiversifiedDiversified ChemicalsDomestic AppliancesDyes & PigmentsEducational InstitutionsElectric EquipmentElectric Equipment – Boilers / TurbinesElectric Equipment – SwitchgearsElectric Equipment – TransformersElectrodes & Electrical EquipmentsElectrodes & Welding EquipmentElectronic GoodsElectronics – ComponentsEngineeringEngineering – ConstructionEngineering – Industrial EquipmentsETFFastenersFerro ManganeseFertilizersFilm Production, Distribution & EntertainmentFinance – HousingFinance – InvestmentFinance – NBFCFinance – OthersFinance – Stock BrokingFinance Term LendingFish/Poultry & Meat ProductsFood & Drug RetailingFood ProcessingFootwearGas DistributionGlass & Glass ProductsGoldGold ETFGround Freight & Logistics ServicesHospital & Healthcare ServicesHotel, Resort & RestaurantsHousehold & Personal ProductsInfrastructureIron & SteelIT – EducationIT – NetworkingIT Services & ConsultingLabs & Life Sciences ServicesLaminates/DecorativesLeatherLeisure ServicesLife & Health InsuranceLogisticsLPGLubricantsMediaMedical Equipment/Supplies/AccessoriesMetals & MiningMetals – Castings/ForgingsMetals – Non FerrousMisc. Commercial ServicesMiscellaneousMultiline Insurance & BrokersOil Exploration and ProductionOnline Servicesother agriculture productsOther Construction MaterialsOthers-Industrial Gases & FuelsOthers-ManufacturingPackaging – FilmsPackaging – Packaging MaterialsPackaging – PolyfilmsPackaging – Sacks and BagsPackaging Materials-Containers & PackagingPackaging Materials-Plastic ProductsPaintsPaper & Forest ProductsPaper & Paper ProductsPesticides & AgrochemicalsPharmaceuticals & DrugsPhotographic ProductsPlastic ProductsPlastic Products – OthersPlastics – Moulded Articles and FurnituresPlastics – Pet Bottels, Jars & ContainersPlastics – Self Adhesive TapesPlastics – ThermoplasticsPlastics – Tubes/Pipes/Hoses & FittingsPortsPower Generation/DistributionPrinting & PublishingPrinting & StationeryPrinting And PublishingRailways WagonsRatingsReal Estate OperationsReal Estate Rental, Development & OperationsRefineriesRefractoriesReinsuranceRenewablesRetailingRubber ProductsShip BuildingShippingSoftwareSolvent ExtractionSpeciality ChemicalsSpeciality RetailersSpecialty Mining & MetalsSugarTea/CoffeeTelecommunication – EquipmentTelecommunication – Service ProviderTelecommunications ServicesTextile – MachineryTextile – SpinningTextilesTextiles & ApparelTradingTransmission Towers / EquipmentsTransport InfrastructureTravel ServicesTV Broadcasting & Software ProductionVegetable Oils & ProductsWatches & AccessoriesWood & Wood Products Screen Code

In the ever-evolving world of finance, one term you might have heard bouncing around is “CFDs” or Contracts for Difference. If you’re scratching your head wondering what on earth these are, you’re in the right place. This article will demystify CFDs, explaining what they are, how they work, and the potential risks and rewards involved. So, buckle up and let’s dive in! What are CFDs? At its core, a Contract for Difference (CFD) is a mutual agreement between two parties to exchange the variation in the value of a financial instrument from the moment the contract is initiated until its closure. Confusing? Let’s simplify it. Consider yourself placing bets on a horse race. You don’t own any of the horses; instead, you’re speculating on which will emerge victorious. This is akin to what you do with CFDs – you speculate on whether the price of a financial asset, such as stocks or commodities, will increase or decrease. The crucial distinction lies in not actually owning the underlying asset; your role is exclusively based on predicting price movements. Now, let’s explore how this functions practically. If your belief entails an asset’s value rising, you “purchase” a CFD. Conversely, if you anticipate a decline in price, you “sell” a CFD. When deciding to conclude your position, you sell (if initially bought) or buy (if initially sold). Your profit or loss is determined by the difference between your entry and exit prices in the market. CFDs are traded on margin, meaning you only need to deposit a small percentage of the full value of the trade to open a position. This leverage can significantly magnify profits, but it can also amplify losses if the market moves against you. It’s a double-edged sword that requires careful handling. How to Trade CFDs To start trading CFDs, you’ll need to open an account with a broker that provides these services. Two popular options are XTB and eToro. It’s important to carefully research and select the one that aligns with your trading style and objectives. Now, let’s delve deeper and compare XTB and eToro. XTB is a well-respected CFD broker acclaimed for its exceptional trade execution speed and quality. It offers an extensive range of markets, including forex, indices, commodities, stock CFDs, ETF CFDs, and even cryptocurrencies. What sets XTB apart is its user-friendly proprietary trading platform called xStation 5. This feature-rich platform allows customization, advanced charting, a trader’s calculator, and an equity screener. Nonetheless, XTB has its limitations. Those who prefer using the widely popular MetaTrader 4 platform may be disappointed as XTB no longer supports it. In the domain of social trading, eToro shines as an innovator. It offers a unique feature that allows beginners to mimic the trades of successful investors, allowing them to learn from experienced traders and gradually improve their skills. Additionally, eToro provides access to a wide range of markets without charging commissions, making it an attractive choice for budget-conscious traders. It’s also a viable alternative for those seeking platforms akin to Robinhood, which is unavailable in several regions including Europe and the UK. Nevertheless, eToro’s platform may pose challenges for those accustomed to more traditional interfaces. Furthermore, there are varying minimum deposit requirements depending on the trader’s country of residence—ranging from $50 to $10,000—which might not suit all individuals. Additionally, while eToro avoids commission charges, its spreads can be higher than competitors’, potentially impacting profit margins. Pros and Cons of CFD Trading Pros: Accessibility: CFDs are easy to access and trade, with many brokers offering a wide range of markets 24/7. Profit from rising and falling markets: With CFDs, you can potentially profit whether the market is going up or down. Leverage: Trading on margin means you can open larger positions than your account balance would otherwise allow. Diversification: CFDs cover a wide range of markets, including stocks, commodities, indices, and more, allowing for portfolio diversification. No Stamp Duty: Unlike traditional share dealing, there’s no stamp duty to pay on a CFD trade as you don’t actually own the underlying asset. Cons: Leverage Risk: The same leverage that can amplify profits can also magnify losses, potentially leading to losses greater than your initial deposit. Overnight Funding: If you keep a position open overnight, you’ll be charged an overnight funding fee. This can eat into your profits or increase your losses. Market Risk: CFD prices are determined by the market, so if the market moves against you, you could lose substantial amounts. Complexity: CFDs are complex instruments that require a good understanding of the markets and a disciplined approach to risk management. Regulatory Differences: CFD regulations vary by country, and they’re not legally allowed in some countries, including the U.S. An important statistic to bear in mind is that according to the Financial Conduct Authority, around 80% of retail investor accounts lose money when trading CFDs. This highlights the significant risk involved and underscores the importance of understanding and managing these risks effectively. Conclusion CFDs can be a useful tool for certain types of investors, but they’re not suitable for everyone. They offer the potential for significant profits, but they also carry a high risk of losses, especially for those who don’t fully understand them or fail to manage their risks effectively. The bottom line is that understanding the ins and outs of CFDs is crucial before getting involved in this type of trading. It’s also essential to remember that this article is for informational purposes only and does not constitute investment advice. Always do your own research and consider seeking advice from a licensed professional before making any investment decisions.

SAN FRANCISCO: Apple Inc grew revenue in China a surprisingly strong 8% while setting a record for Indian iPhone sales, bright spots in an otherwise disappointing quarterly check-in from the world’s most valuable company. Those twin milestones stood out after Apple posted its third straight quarter of declining sales and predicted a similar performance in the current period, hurt by an industry-wide slump that has sapped demand for phones, computers and tablets. The iPad and Macbooks maker reported a better-than-expected 7.9% rise in revenue from China — which includes Hong Kong and Taiwan — to $15.7 billion. And iPhone sales in India grew double-digits to a new high, though executives didn’t disclose precise numbers. China in particular has been a major drag on the global smartphone arena since last year, and has failed to bounce back as anticipated because of post-Covid economic turbulence. Chief Executive Officer Tim Cook suggested users in the world’s biggest mobile market were abandoning Android alternatives from its biggest rivals, which include Xiaomi Corp and Huawei Technologies Co. “Switchers were a very key part of our iPhone results for the quarter, we did set a record,” Cook told analysts on a post-results briefing.China’s smartphone market is struggling alongside a sputtering economy. Shipments have shrunk every quarter since the start of 2022, as consumers tighten their budgets to deal with a post-Covid downturn. The market could bounce back in the fourth quarter when Apple and its rivals typically release their latest devices, but that growth could be weaker than expected, IDC predicts.Heavy discounting during the “6.18” annual June shopping festival likely propelled device sales in general, but Apple’s brand helped it outpace rivals, IDC analyst Will Wong said.“Apple showed that it’s still the best alternative in China’s high-end segment, despite all the tensions between the US and China,” he said. “If we look at the recent 6.18 shopping festival, Apple’s price-discount promotions successfully stimulated consumer demand, but of course its premium brand name allowed consumers to feel that it’s value for money.”While unsurprising, the Indian performance also vindicates the company’s renewed focus on a market where the iPhone has long been beyond the reach of many consumers. Apple now views the fast-expanding country as both a massive retail opportunity and an important production base for its gadgets in the longer term. Apple’s revenue there grew by nearly 50% in the year through March to almost $6 billion, Bloomberg News has reported. The company, which just opened its first stores in the country, is planning to extend its network in India as part of an Asia-wide thrust.

What Is A Rolling Fund? A rolling fund is an innovative investment vehicle that enables managers to exercise their discretion in investing on behalf of investors or limited partners (LPs). Participating investors make regular contributions to the fund, usually on a quarterly or annual basis. Any accredited investor or an HNI can commit capital to a rolling fund and begin the investment journey. There is no minimum fund size criterion for a rolling fund. However, considering the price structure for such funds, investors are recommended to have at least $500K in soft-circled capital before they start their own rolling fund.  Rolling funds often prove suitable for HNIs wanting to start their investment journey as well as seasoned investors looking for lucrative funding deals. How Does A Rolling Fund Work? A rolling fund allows fund managers to add new capital quarterly or yearly by auto-renewing capital commitments from its members. This enables fund managers to quickly pool capital and invest in large investment opportunities.  It also allows fund managers to continuously raise capital as they build a track record, offering a chance to increase the fund size over time. In case a rolling fund doesn’t deploy all its capital in a given quarter/year, the balance is automatically carried forward to the next quarter/year as an additional amount. LPs receive an equal contribution to the new fund, along with their subscribed-for capital contribution.  What Is The Fee Associated With Investing In A Rolling Fund? Like any VC fund, there are certain charges associated with a rolling fund. These include:  Management Fee: An annual or quarterly fee charged by the fund manager for managing the fund. AngelList charges a 1.5% management fee each quarter.  Carried Interest: A share of the fund’s profits paid to the fund manager once a certain return threshold is met. Admin Fee: Costs associated with operating the fund such as legal fees, administrative expenses, and regulatory compliance. AngelList charges a 1.5% management fee. Here’s an example from AngelList to give you a better idea: What Are The Benefits Of Investing In A Rolling Fund? Flexible Investing Option: Rolling funds allow LPs to subscribe to quarterly or annual funds, adjust their capital commitments, and continuously support successful fund managers or investment withdrawals as needed.  Diversity Of Investors: Rolling funds provide an opportunity for investors, whether aspiring or seasoned, to participate with lower upfront capital requirements.  Shortened Feedback Loops: With rolling investments, LPs make smaller periodic investments, enabling quicker feedback and real-time performance assessment of portfolio companies. This helps venture capitalists make more informed decisions towards their investment allocations. How Is A Rolling Fund Different From A Traditional Venture Capital Fund? The rolling fund concept was first introduced by AngelList in the US in 2020 as an alternative to the conventional VC model. It was designed to offer emerging venture capitalists a faster path to initiate and close their first deals. In a blog post, Naval Ravikant, AngelList’s founder and chairman explains, “The huge benefit for a fund manager is that they can raise money incrementally, one investor at a time, rather than having to do a one-time, big-bang fundraise and then lock the fund for four years.”  Some differences between rolling funds and traditional VC are:  In contrast to rolling funds, traditional VCs follow a lengthier process to close. Fund managers approach various LPs such as family offices, high-net-worth individuals (HNIs) and investment firms to secure a minimum capital commitment. Rolling funds enable fund managers to publicly raise funds. However, traditional fund deals are typically conducted privately, behind closed doors.  In rolling investments, fund managers raise fresh capital commitments quarterly and invest as they progress, which is why it is referred to as rolling money. On the other hand, traditional funds operate on a 10-year return cycle as per industry standards. LPs and investors are legally obligated for a decade, and the capital commitment remains in effect until it is fully closed. How Long Does It Typically Last? The duration of a rolling fund can vary as it operates on a rolling subscription model. However, these funds offer a flexible option to angel investors due to their minimum term commitments, allowing them to commit per quarter for up to four quarters or extend their commitment for up to four to ten years.  How Does The Rolling Fund Select Startups? Like any other VC fund, a rolling fund selects startups by evaluating various factors such as team expertise, market potential, traction, competitive advantage, and alignment with the fund’s investment thesis. Can Investors In A Rolling Fund Receive Updates On The Performance Of The Startups In The Portfolio? Yes, investors in a rolling fund receive regular updates on the performance of the startups in the portfolio, including key metrics, milestones achieved, financial updates and other relevant information. There is more transparency as compared to traditional VCs as these funds invest publicly. The post Here’s Everything You Need To Know About A Rolling Fund appeared first on Inc42 Media.