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The Lakers as a $12.5 Billion Tax Shelter
Barrons.com35d agoneutral
The Lakers as a $12.5 Billion Tax Shelter

In early August, former Walt Disney CEO Bob Iger and investor Josh Kushner bought a majority stake in the Los Angeles Lakers at a record $12.5 billion valuation—$2.5 billion more than the sale price a year ago. Another is not-so-obvious: tax benefits. Since 2004, pro franchises have been considered “Section 197 intangibles,” says tax expert Robert Willens.

Jefferies Just Said Sell Apple (AAPL). Here’s the iPhone Feature That Got Canceled
Insider Monkey35d agobearish
Jefferies Just Said Sell Apple (AAPL). Here’s the iPhone Feature That Got Canceled

On August 10, Jefferies downgraded Apple Inc. (NASDAQ:AAPL) to underperform from hold, cutting its price target to $263.66 from $285.56, implying roughly a 16% downside from Friday’s close of $313.33. Analyst Edison Lee said supply chain checks show Apple has canceled its planned all-glass 20th-anniversary iPhone, expected to launch in September 2027, due to poor […]

Meta Platforms (META) Pitches AI for Everyone While Apple (AAPL) Quietly Turns to China
Insider Monkey35d agoneutral
Meta Platforms (META) Pitches AI for Everyone While Apple (AAPL) Quietly Turns to China

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg published a lengthy letter on August 10 making the case that artificial intelligence should be spread broadly rather than controlled by a handful of companies or governments. He also announced that Meta will start releasing open-source AI models again. Around the same time, the Wall Street Journal reported […]