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    Labour MP blasts ‘coked-up yobbery’ of far right protestors as she hits out at ‘disaster’ of asylum hotels

    Labour MP blasts ‘coked-up yobbery’ of far right protestors as she hits out at ‘disaster’ of asylum hotels

    Blow for Scottish Conservatives as MSP quits party in protest at ‘reactionary politics’

    Blow for Scottish Conservatives as MSP quits party in protest at ‘reactionary politics’

    SNP Government ‘failing stroke patients’ as average treatment waiting time over two hours

    SNP Government ‘failing stroke patients’ as average treatment waiting time over two hours

    MSP demands Donald Trump pay up to cover costs of policing for Scottish visit

    MSP demands Donald Trump pay up to cover costs of policing for Scottish visit

    Glasgow domestic waste sent to Spain as part of SNP council recycling drive

    Glasgow domestic waste sent to Spain as part of SNP council recycling drive

    Scots selling counterfeit goods less likely to face prosecution as conviction rate plummets

    Scots selling counterfeit goods less likely to face prosecution as conviction rate plummets

    Librarian cuts at Glasgow schools will ‘rob kids of opportunities’ as SNP Government urged to intervene

    Librarian cuts at Glasgow schools will ‘rob kids of opportunities’ as SNP Government urged to intervene

    Nicola Sturgeon agrees to TV special as ex-SNP leader to be grilled on ‘striking revelations’ in new book

    Nicola Sturgeon agrees to TV special as ex-SNP leader to be grilled on ‘striking revelations’ in new book

    Donald Trump diary reveals exact time he will arrive in Scotland

    Donald Trump diary reveals exact time he will arrive in Scotland

    Scots ‘forced to wait years’ for hernia operations as NHS struggles to meet demand

    Scots ‘forced to wait years’ for hernia operations as NHS struggles to meet demand

    System must work to protect public as report finds chances missed with Southport killer

    System must work to protect public as report finds chances missed with Southport killer

    NHS in Scotland ‘stuck in analogue age’ as health boards shell out millions on pagers

    NHS in Scotland ‘stuck in analogue age’ as health boards shell out millions on pagers

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      Salesforce boss Marc Benioff joins Weev.

      What is a virtual office and why you need one in Central London – Your Company Formations Ltd

      What is a virtual office and why you need one in Central London – Your Company Formations Ltd

      Inflation rises again to new 40-year high

      Inflation rises again to new 40-year high

      Bank of England hikes interest rates to 1.25%

      Bank of England hikes interest rates to 1.25%

      Hiring activity in Scotland slows amid steep decline in staff availability

      Hiring activity in Scotland slows amid steep decline in staff availability

      Scottish retail footfall growth ‘worst in UK compared to pre-pandemic’

      Scottish retail footfall growth ‘worst in UK compared to pre-pandemic’

    • Sports
      Raging Fabrizio Romano fires back at fan for branding him a ‘fraud’

      Raging Fabrizio Romano fires back at fan for branding him a ‘fraud’

      Scotland’s plunging coefficient faces threat from Sweden as Champions League abyss awaits

      Scotland’s plunging coefficient faces threat from Sweden as Champions League abyss awaits

      Rangers brutally mocked by Belgian big mouth as rebuilding Brugge told UCL rivals aren’t ‘serious’

      Rangers brutally mocked by Belgian big mouth as rebuilding Brugge told UCL rivals aren’t ‘serious’

      Jamie Vardy handed Celtic transfer pitch as two deals reach endgame

      Jamie Vardy handed Celtic transfer pitch as two deals reach endgame

      Etienne Youte breaks cover as Celtic issued Jakob Breum red flag before key transfer deadline

      Etienne Youte breaks cover as Celtic issued Jakob Breum red flag before key transfer deadline

      Lyall Cameron slammed for ‘disrespect’ as Rangers new boy comes under fire for Dundee ‘jibes’

      Lyall Cameron slammed for ‘disrespect’ as Rangers new boy comes under fire for Dundee ‘jibes’

      Celtic risk blowing £1.6m transfer windfall as defensive duo head out on loan – Parkhead news bulletin

      Celtic risk blowing £1.6m transfer windfall as defensive duo head out on loan – Parkhead news bulletin

      Prince William’s firm five-word statement to Chloe Kelly about Euros goal uncovered by lip reader

      Prince William’s firm five-word statement to Chloe Kelly about Euros goal uncovered by lip reader

      Kieran Tierney genius exposes ‘sloppy’ Ajax as Celtic earn rival acclaim despite Como Cup hammering

      Kieran Tierney genius exposes ‘sloppy’ Ajax as Celtic earn rival acclaim despite Como Cup hammering

      Andrej Bacanin makes Celtic transfer intentions clear amid Rangers claim as direct link with Lennon Miller emerges

      Andrej Bacanin makes Celtic transfer intentions clear amid Rangers claim as direct link with Lennon Miller emerges

      Rangers strongest XI for Panathinaikos as Thelo Aasgaard injury blow opens door for Euro history-maker

      Rangers strongest XI for Panathinaikos as Thelo Aasgaard injury blow opens door for Euro history-maker

      Celtic could ‘renew interest’ in Evan Ferguson as transfer hijack follows Yamada hint and Ambrosino U turn

      Celtic could ‘renew interest’ in Evan Ferguson as transfer hijack follows Yamada hint and Ambrosino U turn

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        Shoppers leave Sky for ‘easy to use’ TV recorder that lets you watch telly for free

        Shoppers leave Sky for ‘easy to use’ TV recorder that lets you watch telly for free

        Google Pixel 10 pre-orders go live with up to £700 off from Sky, O2, Amazon and EE

        Google Pixel 10 pre-orders go live with up to £700 off from Sky, O2, Amazon and EE

        Tech fans say ‘brilliant fit’ £18 noise cancelling earbuds work ‘as well as Apple Airpods’

        Tech fans say ‘brilliant fit’ £18 noise cancelling earbuds work ‘as well as Apple Airpods’

        Tech fans rush to buy £30 Acer Chromebook tablet that is ‘perfect for work and play’

        Tech fans rush to buy £30 Acer Chromebook tablet that is ‘perfect for work and play’

        Apple fans rush to buy MacBook for only £99 after 54% price slash

        Apple fans rush to buy MacBook for only £99 after 54% price slash

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        Jessie J postpones UK tour and cancels US gigs amid ongoing cancer battle

        Jessie J postpones UK tour and cancels US gigs amid ongoing cancer battle

        Boots protein powder shoppers say ‘takes away cravings and cuts bloating’

        Boots protein powder shoppers say ‘takes away cravings and cuts bloating’

        Changing the way you walk could help knee arthritis and delay surgery

        Changing the way you walk could help knee arthritis and delay surgery

        Nicotine pouches packaged like kid’s sweets sold in Glasgow shop

        Nicotine pouches packaged like kid’s sweets sold in Glasgow shop

        Tesco recalls popular beauty and skincare product over nasty infection risk

        Tesco recalls popular beauty and skincare product over nasty infection risk

      • Entertainment
        DWP warning to people on State Pension, PIP or other benefits using a mobile phone

        DWP warning to people on State Pension, PIP or other benefits using a mobile phone

        DWP urges people in their 60s to check State Pension age before changes start next year

        DWP urges people in their 60s to check State Pension age before changes start next year

        ‘Attractive’ £100 fire pit that’s ideal for long summer nights drops to £44

        ‘Attractive’ £100 fire pit that’s ideal for long summer nights drops to £44

        Triple drawer air fryer that ‘cooks to perfection’ gets £40 price slash in limited time sale

        Triple drawer air fryer that ‘cooks to perfection’ gets £40 price slash in limited time sale

        Sainsbury’s ‘gorgeous’ £25 jacket shoppers say is ‘good for all weather’

        Sainsbury’s ‘gorgeous’ £25 jacket shoppers say is ‘good for all weather’

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        The top state schools in Wales for GCSE results

        The top state schools in Wales for GCSE results

        Cardiff releases GCSE grades as city schools beat Wales-wide results

        Cardiff releases GCSE grades as city schools beat Wales-wide results

        Swansea schools beat Wales average for A-level results

        Swansea schools beat Wales average for A-level results

        Of the 67 paramedics trained in Wales this year, only 20 have been given jobs

        Of the 67 paramedics trained in Wales this year, only 20 have been given jobs

        Schoolgirl achieved something incredible and made everyone proud

        Schoolgirl achieved something incredible and made everyone proud

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        Labour MP blasts ‘coked-up yobbery’ of far right protestors as she hits out at ‘disaster’ of asylum hotels

        Labour MP blasts ‘coked-up yobbery’ of far right protestors as she hits out at ‘disaster’ of asylum hotels

        Blow for Scottish Conservatives as MSP quits party in protest at ‘reactionary politics’

        Blow for Scottish Conservatives as MSP quits party in protest at ‘reactionary politics’

        SNP Government ‘failing stroke patients’ as average treatment waiting time over two hours

        SNP Government ‘failing stroke patients’ as average treatment waiting time over two hours

        MSP demands Donald Trump pay up to cover costs of policing for Scottish visit

        MSP demands Donald Trump pay up to cover costs of policing for Scottish visit

        Glasgow domestic waste sent to Spain as part of SNP council recycling drive

        Glasgow domestic waste sent to Spain as part of SNP council recycling drive

        Scots selling counterfeit goods less likely to face prosecution as conviction rate plummets

        Scots selling counterfeit goods less likely to face prosecution as conviction rate plummets

        Librarian cuts at Glasgow schools will ‘rob kids of opportunities’ as SNP Government urged to intervene

        Librarian cuts at Glasgow schools will ‘rob kids of opportunities’ as SNP Government urged to intervene

        Nicola Sturgeon agrees to TV special as ex-SNP leader to be grilled on ‘striking revelations’ in new book

        Nicola Sturgeon agrees to TV special as ex-SNP leader to be grilled on ‘striking revelations’ in new book

        Donald Trump diary reveals exact time he will arrive in Scotland

        Donald Trump diary reveals exact time he will arrive in Scotland

        Scots ‘forced to wait years’ for hernia operations as NHS struggles to meet demand

        Scots ‘forced to wait years’ for hernia operations as NHS struggles to meet demand

        System must work to protect public as report finds chances missed with Southport killer

        System must work to protect public as report finds chances missed with Southport killer

        NHS in Scotland ‘stuck in analogue age’ as health boards shell out millions on pagers

        NHS in Scotland ‘stuck in analogue age’ as health boards shell out millions on pagers

        Trending Tags

        • Business

          Salesforce boss Marc Benioff joins Weev.

          What is a virtual office and why you need one in Central London – Your Company Formations Ltd

          What is a virtual office and why you need one in Central London – Your Company Formations Ltd

          Inflation rises again to new 40-year high

          Inflation rises again to new 40-year high

          Bank of England hikes interest rates to 1.25%

          Bank of England hikes interest rates to 1.25%

          Hiring activity in Scotland slows amid steep decline in staff availability

          Hiring activity in Scotland slows amid steep decline in staff availability

          Scottish retail footfall growth ‘worst in UK compared to pre-pandemic’

          Scottish retail footfall growth ‘worst in UK compared to pre-pandemic’

        • Sports
          Raging Fabrizio Romano fires back at fan for branding him a ‘fraud’

          Raging Fabrizio Romano fires back at fan for branding him a ‘fraud’

          Scotland’s plunging coefficient faces threat from Sweden as Champions League abyss awaits

          Scotland’s plunging coefficient faces threat from Sweden as Champions League abyss awaits

          Rangers brutally mocked by Belgian big mouth as rebuilding Brugge told UCL rivals aren’t ‘serious’

          Rangers brutally mocked by Belgian big mouth as rebuilding Brugge told UCL rivals aren’t ‘serious’

          Jamie Vardy handed Celtic transfer pitch as two deals reach endgame

          Jamie Vardy handed Celtic transfer pitch as two deals reach endgame

          Etienne Youte breaks cover as Celtic issued Jakob Breum red flag before key transfer deadline

          Etienne Youte breaks cover as Celtic issued Jakob Breum red flag before key transfer deadline

          Lyall Cameron slammed for ‘disrespect’ as Rangers new boy comes under fire for Dundee ‘jibes’

          Lyall Cameron slammed for ‘disrespect’ as Rangers new boy comes under fire for Dundee ‘jibes’

          Celtic risk blowing £1.6m transfer windfall as defensive duo head out on loan – Parkhead news bulletin

          Celtic risk blowing £1.6m transfer windfall as defensive duo head out on loan – Parkhead news bulletin

          Prince William’s firm five-word statement to Chloe Kelly about Euros goal uncovered by lip reader

          Prince William’s firm five-word statement to Chloe Kelly about Euros goal uncovered by lip reader

          Kieran Tierney genius exposes ‘sloppy’ Ajax as Celtic earn rival acclaim despite Como Cup hammering

          Kieran Tierney genius exposes ‘sloppy’ Ajax as Celtic earn rival acclaim despite Como Cup hammering

          Andrej Bacanin makes Celtic transfer intentions clear amid Rangers claim as direct link with Lennon Miller emerges

          Andrej Bacanin makes Celtic transfer intentions clear amid Rangers claim as direct link with Lennon Miller emerges

          Rangers strongest XI for Panathinaikos as Thelo Aasgaard injury blow opens door for Euro history-maker

          Rangers strongest XI for Panathinaikos as Thelo Aasgaard injury blow opens door for Euro history-maker

          Celtic could ‘renew interest’ in Evan Ferguson as transfer hijack follows Yamada hint and Ambrosino U turn

          Celtic could ‘renew interest’ in Evan Ferguson as transfer hijack follows Yamada hint and Ambrosino U turn

          Trending Tags

          • Technology
            Shoppers leave Sky for ‘easy to use’ TV recorder that lets you watch telly for free

            Shoppers leave Sky for ‘easy to use’ TV recorder that lets you watch telly for free

            Google Pixel 10 pre-orders go live with up to £700 off from Sky, O2, Amazon and EE

            Google Pixel 10 pre-orders go live with up to £700 off from Sky, O2, Amazon and EE

            Tech fans say ‘brilliant fit’ £18 noise cancelling earbuds work ‘as well as Apple Airpods’

            Tech fans say ‘brilliant fit’ £18 noise cancelling earbuds work ‘as well as Apple Airpods’

            Tech fans rush to buy £30 Acer Chromebook tablet that is ‘perfect for work and play’

            Tech fans rush to buy £30 Acer Chromebook tablet that is ‘perfect for work and play’

            Apple fans rush to buy MacBook for only £99 after 54% price slash

            Apple fans rush to buy MacBook for only £99 after 54% price slash

          • Health
            Jessie J postpones UK tour and cancels US gigs amid ongoing cancer battle

            Jessie J postpones UK tour and cancels US gigs amid ongoing cancer battle

            Boots protein powder shoppers say ‘takes away cravings and cuts bloating’

            Boots protein powder shoppers say ‘takes away cravings and cuts bloating’

            Changing the way you walk could help knee arthritis and delay surgery

            Changing the way you walk could help knee arthritis and delay surgery

            Nicotine pouches packaged like kid’s sweets sold in Glasgow shop

            Nicotine pouches packaged like kid’s sweets sold in Glasgow shop

            Tesco recalls popular beauty and skincare product over nasty infection risk

            Tesco recalls popular beauty and skincare product over nasty infection risk

          • Entertainment
            DWP warning to people on State Pension, PIP or other benefits using a mobile phone

            DWP warning to people on State Pension, PIP or other benefits using a mobile phone

            DWP urges people in their 60s to check State Pension age before changes start next year

            DWP urges people in their 60s to check State Pension age before changes start next year

            ‘Attractive’ £100 fire pit that’s ideal for long summer nights drops to £44

            ‘Attractive’ £100 fire pit that’s ideal for long summer nights drops to £44

            Triple drawer air fryer that ‘cooks to perfection’ gets £40 price slash in limited time sale

            Triple drawer air fryer that ‘cooks to perfection’ gets £40 price slash in limited time sale

            Sainsbury’s ‘gorgeous’ £25 jacket shoppers say is ‘good for all weather’

            Sainsbury’s ‘gorgeous’ £25 jacket shoppers say is ‘good for all weather’

          • Life Style
          • Travel
          • Education
            The top state schools in Wales for GCSE results

            The top state schools in Wales for GCSE results

            Cardiff releases GCSE grades as city schools beat Wales-wide results

            Cardiff releases GCSE grades as city schools beat Wales-wide results

            Swansea schools beat Wales average for A-level results

            Swansea schools beat Wales average for A-level results

            Of the 67 paramedics trained in Wales this year, only 20 have been given jobs

            Of the 67 paramedics trained in Wales this year, only 20 have been given jobs

            Schoolgirl achieved something incredible and made everyone proud

            Schoolgirl achieved something incredible and made everyone proud

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          Apple, Tesla and Nvidia were among 2023’s ‘magnificent seven’ stocks – here’s what to expect from them all in 2024

          by BP Author
          December 27, 2023
          in World
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          In the 1960 western The Magnificent Seven, a group of seven gunfighters protect a village from bandits. Only three survive to ride out of town at the end of the movie. The odds look much better for the seven tech companies recently dubbed the magnificent seven after dominating US stock markets in 2023. But there are problems that could ambush some of these companies in 2024.

          Apple, Alphabet, Microsoft, Amazon, Meta, Tesla and Nvidia have driven a rally in US stocks in 2023. They now make up nearly a third of the S&P 500 measure of the largest listed US companies, which has risen more than 20% since January. These tech stocks had provided shareholders with a whopping 71% return by mid-November while the other 493 names added just 6%.

          This impressive performance led Bank of America analyst Michael Hartnett to name these companies the magnificent seven earlier this year. Goldman Sachs soon followed, calling their massive outperformance the “defining feature” of the equity market in 2023.

          But as dramatic as this performance has been – and although they’re all essentially tech companies – don’t make the mistake of thinking they’re all the same. In fact, the outlook for the magnificent seven next year is mixed, particularly in light of expected changes in their core markets.

          Rising competition in the EV market

          Let’s start with the bad news first. Electric vehicle (EV) manufacturer Tesla Motors will continue to lose market share in 2024. While chief executive Elon Musk has been dealing with advertising problems on X (formerly Twitter), one of his other businesses, over the first three quarters of this year, Tesla has seen its US market dominance shrink from 62% to just over 50% of the market. Both BMW Group and Mercedes-Benz Cars have expanded their footprints.

          And over the next few years, the growing global heft of Chinese manufacturers looks hard to beat. Chinese EV players such as BYD, Nio, Wuling and Xpeng produced almost 60% of the world’s EVs in 2022 – and they have been doing so in a very affordable manner. In the first half of 2023, the average cost of an EV in China was US$33,000 (£26,040), more than half the US$70,700 (£55,800) people pay for EVs in Europe and the US$72,000 (£56,800) paid in the US.

          US president Joe Biden has proposed strict new car pollution controls that will require almost two-thirds of new cars sold in the US to be electric by 2032. But the cost of EVs will need to come down if they are to achieve mass market appeal.

          A grey Tesla model S driving on the road with the sun setting in the background.
          A Tesla Model S.
          canadianPhotographer56/Shutterstock

          Sunny outlook for cloud computing

          Magnificent seven members Amazon, Microsoft and Alphabet make up two-thirds of the cloud computing market, which will continue to grow in 2024, although perhaps not quite as much as in the past.

          Still, the market for cloud infrastructure services is expected to expand from US$122 billion in 2023 to US$446 billion by 2032. In particular, concerns about the macroeconomic environment have seen some customers focus on using the cloud more to reduce costs in recent years, although this has yet to have any meaningful impact on revenues.

          And for Amazon in particular, there are some niggling questions around its outlook. Although its cloud business remains solid, its original e-commerce business has seen growing competition recently, notably from rival retail giant Walmart, which is eating into its business in the US.

          This is one reason why holding Amazon shares provided an annual return over the past two years of -16.7%, as of early December, according to my calculations.

          Unstoppable AI

          Also linked to the cloud computing industry, California-based chip maker Nvidia Corporation has been the runaway success of the magnificent seven this year. This is all thanks to its dominance in processing AI workloads on the cloud. The majority of cloud players use Nvidia graphics processing units (GPUs).

          But while its two-year return of 43.3% is the most impressive of the seven tech companies, there are competitors on the horizon that could nibble away at some market share.

          Nvidia’s nearest rival AMD drew attention with its latest chip offering in 2023 – it’s betting the market will be worth US$400 billion by 2027. A number of other start-ups are also developing chips for niche AI fields.

          Can Nvidia maintain its dominance? If it does, its earnings will skyrocket
          alongside the growth of AI. But even if it loses some market share, the AI market will boom for years.

          Jen-Hsun Huan, NVIDIA's founder, president and CEO, talking about the chipmaker.
          Jen-Hsun Huan, NVIDIA’s founder, president and CEO.
          jamesonwu1972/Shutterstock

          The outliers

          For those keeping track, that just leaves two final members of the magnificent seven.

          Apple Inc – the world’s largest company by market capitalisation – consistently delivers solid returns: 16.2% over the past two years by my calculations. At the other end of the scale, social media company Meta (owner of Facebook, Instagram, Threads and WhatsApp) is the only one of the group to have shown an essentially flat stock market performance over the past two years.

          Although Meta’s revenues and earnings have consistently beaten expectations this year, the threat of anti-trust legislation in the US and Europe hangs over the company, as does an advertising market that is bottoming out. Both of these issues could harm Meta’s revenue outlook next year.

          So, the magnificent seven have all survived to ride out of town at the end of 2023, but it’s as clear as a tumbleweed rolling down a deserted main street that not all of them are in for a leisurely horseback ride through 2024. Saddle up, partners!



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