Microsoft Hits $3 Trillion

   Microsoft has reached a $3 trillion market value, it is the second most valuable firm globally, just below Apple. The stock leaped 57% last year, and an additional 7.3% uptick this year.

   The rise of Microsoft is primarily due to their investment in OpenAI, the creators of ChatGPT. And secondly, due to the fast annual growth (20%) in revenue of their Intelligent Cloud Division.

   Meanwhile, Apple battles slowing iPhone demand, even offering rare discounts in China, as local brands like Huawei intensify the competition.

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FAA Clips Boeing's Wings

   The Federal Aviation Administration (FAA), put a stop to Boeing's plans to ramp up the production of its 737 Max 10 planes.

   Simultaneously, the FAA has given the green light for the 737 Max 9 to take to the skies again, after passing required inspections.

   The FAA's move comes after the 737 Max aircraft were grounded earlier in the month due to a series of accidents including a "door plug" blowing off midair, an engine explosion and a lost nose wheel just before takeoff.

   Boeing’s CEO, Calhoun, is scheduled to discuss the company's performance with investors on January 31.

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Tesla Whispers "Redwood"

   Tesla is working on the "Redwood." This upcoming mass-market electric vehicle, shaping up to be a compact crossover, is set to roll out in mid-2025.

   We're talking about a car that could rock a $25,000 price tag. This is in direct response to BYD, the car company that's been eating Tesla's lunch in China.

   Elon Musk expects to crank out 10,000 units every week once the production light turns green.

   Tesla's been dissecting a Honda Civic to crack the code on building affordable vehicles. The next-gen Tesla blueprint, dubbed "NV9X," is expected to feature at least two models.

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Layoffs Sweep Through Silicon Giants

   In a recent whirlwind of job cuts, the tech industry continues to face a storm of layoffs.

   TikTok has trimmed about 60 employees from their sales and ads team.

   Meanwhile, eBay is reducing its total headcount by roughly 1,000 roles, striving to become more agile amidst a tough economic climate.

   And then there's SAP, pivoting towards artificial intelligence with a massive investment, which involves restructuring that impacts 8,000 jobs.

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