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Lotus Technology

Lotus Technology Inc is a battery electric vehicle (BEV) maker that designs, develops, and sells BEV lifestyle vehicles under the Lotus brand. The Group is also a distributor that sells luxury sports cars under the Lotus brand. It also provides other sales and ancillary services to customers.

Lotus Technology Inc. - American Depositary Shares

Lotus Technology Inc

LOTUS BAKERIES UNSP/ADR by Lotus Bakeries NV

Lotus Bakeries NV

Lot78 Inc

LOTTOMATICA GRP SPA U/ADR by LOTTOMATICA GROUP SPA

Lotto

<ul>
<li>Partnership will deliver revolutionary, emissions-free travel in the UK, including greater connectivity for Virgin Atlantic customers traveling to and from the airport</li>
<li>Virgin Atlantic to support Joby's preparations for operation in the UK</li>
<li>Agreement builds on Virgin Atlantic's track record of innovation and award-winning customer service</li>
</ul>

News

JOBY

Reported Saturday, Joby Aviation Partners With Virgin Atlantic To Launch All-Electric Air Taxi Service For Seamless Airport Connectivity In the UK

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investor Ross Gerber shared footage of protesters outside a Tesla store in Santa Monica, highlighting growing public backlash against the electric vehicle maker amid CEO Elon Musk&#8216;s political activities.
What Happened: &#8220;Guess the Tesla takeover was in Santa Monica today. My wife ran into this peaceful display of distaste for Elon Musk in front of the Tesla store,&#8221; Gerber wrote Sunday on X. The video concludes with the voice of his 9-year-old child saying, &#8220;I&#8217;m glad we don&#8217;t have a Tesla.&#8221;
Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, has grown increasingly critical of Tesla despite his long-standing investment in the company. In a recent interview, he stated <a href="https://in.benzinga.com/25/03/44321998/why-ross-gerber-finds-tesla-stock-expensive-despite-its-50-plunge-fundamental-story-has-to-be-revalued">Tesla shares remain overvalued</a> even after plunging nearly 50% since mid-December.
&#8220;There&#8217;s this game that is happening now where the fundamental story has to be revalued,&#8221; Gerber said, noting Tesla&#8217;s forward price-to-earnings ratio of 65 remains more than triple the S&amp;P 500 average.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Guess the tesla takeover was in Santa Monica today. My wife ran into this peaceful display of distaste for Elon Musk in front of the tesla store. At the end listen to what my 9 year old said. Sad for tesla &#x1f61e; <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a> <a href="https://t.co/AXJXoX1fcP">pic.twitter.com/AXJXoX1fcP</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1901070393013924104?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/25/03/44349240/googles-waymo-leads-robotaxi-race-with-2-millon-paid-rides-zoox-challenges-tesla-for-second-spot-as-unsupervised-autonomy-becomes-table-stakes-says-gary-black">Google&#8217;s Waymo Leads Robotaxi Race With 2 Millon Paid Rides, Amazon&#8217;s Zoox Challenges Tesla For Second Spot As Autonomy Becomes &#8216;Table Stakes,&#8217; Says Gary Black</a>
Why It Matters: The protests come amid escalating tensions surrounding Musk&#8217;s dual role as Tesla CEO and leader of the Department of Government Efficiency in President Donald Trump&#8216;s administration. Demonstrations have <a href="https://in.benzinga.com/news/24/11/42028821/amazon-india-to-shift-headquarters-to-bengalurus-outskirts-to-cut-costs">occurred at Tesla showrooms</a> across the U.S., with Rep. Marjorie Taylor Greene (R-Ga.) recently calling for an FBI investigation into what she termed &#8220;organized attacks&#8221; on Tesla facilities.
Gerber previously indicated he would &#8220;eventually&#8221; sell his Cybertruck, <a href="https://in.benzinga.com/markets/equities/25/02/43761581/ross-gerber-says-hes-eventually-selling-his-cybertruck-because-the-hate-is-real-as-protests-rock-tesla-showrooms">writing in February</a> that &#8220;the hate is real&#8221; after spotting a vandalized vehicle. Public figures like singer Sheryl Crow have publicly documented selling their Teslas over political disagreements with Musk.
Tesla&#8217;s challenges extend internationally, with German sales <a href="https://www.benzinga.com/25/03/44295808/tesla-braces-for-lowest-quarterly-deliveries-since-2022-jpmorgan-predicts-a-brand-has-lost-so-much-value-so-quickly">reportedly dropping 60% year-over-year in January</a> following Musk&#8217;s support for far-right political groups. JPMorgan Chase analysts warned Wednesday that Tesla &#8220;lost too much brand value too quickly&#8221; and could face its lowest quarterly deliveries since 2022.
The company reported its first-ever annual sales decline in 2024, though Musk pledged Tuesday that Tesla would double its U.S. vehicle production over <a href="https://www.benzinga.com/markets/25/03/44346423/teslas-biggest-bull-frustrated-with-elon-musks-focus-on-doge-over-company-patience-wearing-thin">the next two years</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44348859/trump-says-he-was-little-bit-sarcastic-when-he-said-he-would-end-the-russia-ukraine-war-in-a-day-what-i-really-mean-is" target="_blank" rel="noreferrer noopener">Trump Says He Was ‘Little Bit Sarcastic' When He Said He Would End The Russia-Ukraine War In A Day: ‘What I Really Mean Is…'</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Markets

TSLA

Ross Gerber Shares 'Peaceful Display Of Distaste For Elon Musk' In Santa Monica, His 9-Year Old Observes, 'Glad We Don't Have A Tesla'

Macro Economic Events

Econ #s

Economics

INDA

India Wholesale Price Index (WPI) Inflation (YoY) For February 2.38% Vs. 2.36% Est.; 2.31% Prior

Reported Saturday, CenterPoint Energy Reports Strong System Performance And Minimal Outages As Red Flag Weather Conditions Ease In Greater Houston

<ul>
<li>With the launch of ERNIE 4.5 and ERNIE X1, ERNIE Bot is made free to the public ahead of schedule, and users can access both models free of charge.</li>
<li>As a deep-thinking reasoning model with multimodal capabilities, ERNIE X1 delivers performance on par with DeepSeek R1 at only half the price.</li>
<li>ERNIE 4.5 is the company's latest foundation model and native multimodal model, with input and output prices starting as low as RMB 0.004 per thousand tokens and RMB 0.016 per thousand tokens.</li>
</ul>

BIDU

Reported Earlier, Baidu Introduces ERNIE 4.5 And Deep-Thinking Model ERNIE X1 With Advanced Multimodal Reasoning

With U.S. stock futures trading lower this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Science Applications International Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIC#NASDAQ">SAIC</a>) to report quarterly earnings at $2.08 per share on revenue of $1.81 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Science Applications International shares gained 0.2% to close at $104.43 on Friday.</li>
<li>Analysts are expecting Getty Images Holding Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GETY#NYSE">GETY</a>) to post quarterly earnings at 4 cents per share on revenue of $246.31 million. The company will release earnings after the markets close. Getty Images shares rose 2% to close at $2.04 on Friday.</li>
<li>Castellum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTM#NYSE">CTM</a>) reported a proposed public offering of common stock and warrants. Castellum shares tumbled 22.9% to $0.9101 in pre-market trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>After the closing bell, Consolidated Water Co. Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWCO#NASDAQ">CWCO</a>) is projected to report quarterly earnings at 28 cents per share on revenue of $33.60 million. Consolidated Water shares gained 2.8% to close at $29.18 on Friday.</li>
<li>Analysts expect Townsquare Media Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSQ#NYSE">TSQ</a>) to post quarterly earnings at 60 cents per share on revenue of $116.41 million before the opening bell. Townsquare Media shares rose 1.9% to $7.94 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/25/03/44326690/top-3-materials-stocks-that-may-collapse-in-march">Top 3 Materials Stocks That May Collapse In March</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

Trading Ideas

CWCO

GETY

SAIC

Science Applications International, Getty Images And 3 Stocks To Watch Heading Into Monday

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the &#8220;Extreme Fear&#8221; zone on Friday.
U.S. stocks settled higher on Friday, with the S&amp;P 500 surging more than 2% during the session.
Big tech shares fell sharply last week and saw a sharp recovery on Friday. Shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) jumped more than 5%, while Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) added around 4% during the session.
Despite Friday's gains, stocks recorded losses last week. The Dow dipped around 3.1% to record its worst week since March 2023. The S&amp;P 500 dipped over 2%, recording its fourth straight losing week.
On the economic data front, the University of Michigan consumer sentiment dipped to 57.9 in March, recording the lowest reading since November 2022, compared to 64.7 in the previous month and down from market estimates of 63.1.
All sectors on the S&amp;P 500 closed on a positive note, with information technology, energy, and financial stocks recording the biggest gains on Friday.
The Dow Jones closed higher by around 675 points to 41,488.19 on Friday. The S&amp;P 500 rose 2.13% to 5,638.94, while the Nasdaq Composite climbed 2.61% at 17,754.09 during Friday's session.
Investors are awaiting earnings results from Science Applications International Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIC#NASDAQ">SAIC</a>), Getty Images Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GETY#NYSE">GETY</a>) and Consolidated Water Co. Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWCO#NASDAQ">CWCO</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 21, the index remained in the &#8220;Extreme Fear&#8221; zone on Friday, versus a prior reading of 16.1.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/03/44326690/top-3-materials-stocks-that-may-collapse-in-march">Top 3 Materials Stocks That May Collapse In March</a></li>
</ul>
Photo courtesy: Shutterstock

NVDA

S&P Jumps Over 2%, But Records Weekly Loss: Investor Fear Eases, Greed Index Remains In 'Extreme Fear' Zone

Business Outlook
As macro-economic uncertainties persist, the Company intends to maintain a prudent approach in its business planning for 2025. Management will continue to focus on enhancing efficiency of the Company's operations. As such, for the first quarter of 2025, the Company expects to generate a net income between RMB1.75 billion and RMB1.85 billion and a non-GAAP net income&#x2A;13 between RMB1.80 billion and RMB1.90 billion, representing a year-on-year growth between 49% and 58%. This outlook reflects the Company's current and preliminary views, which is subject to material changes.

Guidance

QFIN

Qifu Technology Q1 Outlook: Expects Net Income Of RMB1.75B–RMB1.85B And Non-GAAP Net Income Of RMB1.80B-RMB1.90B

Semi-Annual Dividend for the Second Half of 2024
The board of directors of the Company (the "Board") has approved a dividend of US$0.35 per Class A ordinary share, or US$0.70 per ADS for the second half of 2024 to holders of record of Class A ordinary shares and ADSs as of the close of business on April 23, 2025 Hong Kong Time and New York Time, respectively, in accordance with the Company's dividend policy. For holder of Class A ordinary shares, in order to qualify for the dividend, all valid documents for the transfers of shares accompanied by the relevant share certificates must be lodged for registration with the Company's Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Hong Kong no later than 4:30 p.m. on April 23, 2025 (Hong Kong Time). The payment date is expected to be on May 28, 2025 for holders of Class A ordinary shares and around June 2, 2025 for holders of ADSs

Dividends

Qifu Technology Raises Semi-Annual Dividend To $0.70 Per ADS From $0.60, Payable June 2; And $0.35 Per Class A Share Payable May 28

Qifu Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QFIN#NASDAQ">QFIN</a>) reported quarterly earnings of RMB13.66 per share which beat the analyst consensus estimate of RMB12.23 by 11.69 percent. This is a 91.32 percent increase over earnings of RMB7.14 per share from the same period last year. The company reported quarterly sales of RMB4.48 billion which beat the analyst consensus estimate of RMB4.25 billion by 5.53 percent. This is a 0.29 percent decrease over sales of RMB4.50 billion the same period last year.

Earnings Beats

Qifu Technology Q4 2024 Adj EPS RMB13.66 Beats RMB12.23 Estimate, Sales RMB4.48B Beat RMB4.25B Estimate

- Continued favorable safety profile for DYNE-251 -
- DELIVER Registrational Expansion Cohort is fully enrolled;&nbsp;data from this cohort planned for late 2025 -
- Potential for Biologics License Application submission for U.S. accelerated approval&nbsp;in early 2026 -

Reported Earlier, Dyne Therapeutics Phase 1/2 Trial Update Highlights Sustained Functional Improvement In Duchenne Muscular Dystrophy With Exon 51-Skipping Candidate; Regulatory Submission Targeted For Early 2026

The cryptocurrency market witnessed a significant rebound last week, ably supported by leading memecoins and Telegram-linked Toncoin.
What happened: BNX, the native token of the GameFi platform BinaryX, topped the gainers list, exploding over 60% over the week.
The BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>)-based coin was just 10% away from bettering its all-time high set two years ago.&nbsp;
The rally came ahead of the project's rebranding to Four (FORM) to align with its newest product, Four.meme, an ecosystem for meme coins.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Four is evolving, and the future is <a href="https://twitter.com/search?q=%24FORM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FORM</a>. To bring clarity and truly return Four to the community, we are revising the token symbol from <a href="https://twitter.com/search?q=%24Four&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Four</a> to <a href="https://twitter.com/search?q=%24FORM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FORM</a>.<a href="https://twitter.com/search?q=%24FORM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FORM</a> represents continuous creation and infinite possibilities. The ecosystem remains strong—we're building DeFi, GameFi,… <a href="https://t.co/OFWDdohOCl">pic.twitter.com/OFWDdohOCl</a>
&mdash; BinaryX (@binary_x) <a href="https://twitter.com/binary_x/status/1893927616861876319?ref_src=twsrc%5Etfw">February 24, 2025</a></blockquote>
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Toncoin, the native token of The Open Network, was the second most successful cryptocurrency over the week, returning over 34% to its holders.&nbsp;
The surge followed the <a href="https://in.benzinga.com/tech/25/03/44347961/ton-token-value-soars-20-as-telegram-founder-pavel-durov-regains-passport-from-french-authorities">recovery</a> of Telegram founder Pavel Durov‘s passport from French authorities. The tech entrepreneur was<a href="https://www.benzinga.com/news/24/09/40743743/telegram-founder-pavel-durov-slams-france-in-first-public-comments-since-detention-still-trying-to-u"> detained</a> in August 2024 amid an investigation into crimes related to child pornography, drug trafficking, and fraudulent transactions on the popular social messaging platform.
The decentralized exchange token CAKE followed with a 30% spike last week, aided by an 11% weekly <a href="https://defillama.com/dexs">increase </a>in volumes on PancakeSwap.
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 12:30 a.m. ET)</td>
</tr>
<tr>
<td>BinaryX (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BNX</a>)</td>
<td>+60.71%</td>
<td>$1.62</td>
</tr>
<tr>
<td>Toncoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TON</a>)</td>
<td>+34.00%</td>
<td>$3.59</td>
</tr>
<tr>
<td>PancakeSwap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/cake/usd">CAKE</a>)</td>
<td>+30.86%</td>
<td>$2.04</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44267582/us-house-committee-favors-stablecoin-regulation-to-strenthen-dollar-advocates-against-cbdc">House Committee Favors Stablecoin Regulation To &#8216;Strengthen&#8217; Dollar: Majority Whip Says CBDCs Against &#8216;American Values&#8217;</a>
Market leader Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) eked out a gain of 1.10%, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), the second-largest cryptocurrency, fell more than 8% in a week.
Meme heavyweight Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) was broadly unchanged over the previous week, while Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) and Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) outperformed with gains of 8.50% and 10.87%, respectively.
The total cryptocurrency market capitalization rose 4.5% over the week to $2.71 trillion.
Photo by Avi Rozen on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/03/44268317/sec-postpones-approval-of-several-crypto-spot-etfs-says-influential-analyst">Dogecoin, XRP ETF Filings Delayed By SEC But Influential Analyst Says &#8216;Relatively High&#8217; Odds Of Approval</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BNB

$BNX

$BTC

$CAKE

$DOGE

$ETH

$PEPE

$SHIB

$TON

Bitcoin, Dogecoin Were Muffled Last Week But Telegram's Pavel Durov Getting His Passport Back Gave Toncoin Its Wings

<ul>
<li>Primary endpoint showed clinically meaningful improvement in patients with SMA receiving apitegromab as measured by gold standard Hammersmith Functional Motor Scale Expanded (HFMSE) versus placebo (p=0.0192), with consistent outcomes across all major sub-groups including age, SMN-targeted background therapy, and age at initiation of SMN-targeted therapy</li>
<li>Pre-specified secondary endpoint showed that 30.4% of patients receiving apitegromab had ≥ 3-point improvement in HFMSE versus 12.5% of patients on placebo (nominal p-value = 0.0156), despite all study patients receiving ongoing SMN-targeted background therapy</li>
<li>In other pre-specified secondary endpoints, patients with SMA receiving apitegromab showed consistent improvement at 52 weeks compared to placebo as measured by Revised Upper Limb Module (RULM) and WHO motor development milestones despite all study patients receiving ongoing SMN-targeted background therapy</li>
</ul>

SRRK

Reported Earlier, Scholar Rock's New Phase 3 Trial Data Show Clinically Meaningful Improvements In Motor Function For Patients With SMA

Each unit consists of one share of common stock and one warrant to purchase one share of common stock. The warrants will be immediately exercisable at $1.08 per share and will expire 60 days from the date of issuance.&nbsp;

Reported Earlier, Castellum Prices $4.5M Public Offering Of 4.5M Units At $1.00 Per Unit

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) continues to trade at elevated valuation levels despite Warren Buffett&#8216;s Berkshire Hathaway Inc. significantly reducing its stake in the iPhone maker, according to a prominent market analyst.
What Happened: Lawrence McDonald, founder of Bear Traps Report, highlighted concerns about Apple&#8217;s current price-to-sales ratio in a post on X on Sunday. 
&#8220;Think about your 401k and Apple, its (S&amp;P 500) Top holding — From 2005 to 2020, Apple traded between a 2 and 5 handle price to sales. On Christmas Eve, she peaked at 10.2x sales and now sits—After Buffett dumped nearly 70% of his shares—at 8.2x,&#8221; McDonald wrote.
The price-to-sales ratio measures a company&#8217;s market cap relative to revenue, showing how much investors pay per dollar of sales. Apple&#8217;s current 8.2x P/S far exceeds its historical 2-5x range, a premium it began surpassing after June 2020, according <a href="https://companiesmarketcap.com/inr/apple/ps-ratio/">to</a> CompaniesMarketCap
McDonald warned that the growing influence of passive index funds is damaging the market&#8217;s ability to price stocks efficiently, with Apple being a prime example.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Think about your 401k and Apple, its (S&amp;P 500) TOP holding — From 2005 to 2020, <a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a> traded between a 2 and 5 handle price to sales. On Christmas Eve, she peaked at 10.2x sales and now sits—AFTER Buffett dumped nearly 70% of his shares—at 8.2x. The larger passive index funds… <a href="https://t.co/d2hVBNsWlr">https://t.co/d2hVBNsWlr</a> <a href="https://t.co/uY7Syrgudj">pic.twitter.com/uY7Syrgudj</a>
&mdash; Lawrence McDonald (@Convertbond) <a href="https://twitter.com/Convertbond/status/1901258281739268133?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/03/44349240/googles-waymo-leads-robotaxi-race-with-2-millon-paid-rides-zoox-challenges-tesla-for-second-spot-as-unsupervised-autonomy-becomes-table-stakes-says-gary-black">Google&#8217;s Waymo Leads Robotaxi Race With 2 Millon Paid Rides, Amazon&#8217;s Zoox Challenges Tesla For Second Spot As Autonomy Becomes &#8216;Table Stakes,&#8217; Says Gary Black</a>
Why It Matters: The comments come after Buffett&#8217;s dramatic reduction in Berkshire&#8217;s Apple holdings over the past year. Berkshire held 905.6 million Apple shares valued at approximately $174 billion at the start of 2024 but sold 116.2 million shares in the first quarter and an additional 389.7 million in the second quarter. 
By the end of the third quarter, Buffett had further reduced the position to <a href="https://www.benzinga.com/markets/equities/24/10/41428505/warren-buffett-may-have-missed-out-on-23m-worth-of-profits-after-selling-apple-stocks-report">around 300 million shares</a>.
The valuation concerns and China sales troubles have impacted Apple&#8217;s stock performance. While AAPL gained 14.8% over the past year, it significantly underperformed the S&amp;P 500&#8217;s 25.6% rise <a href="https://www.benzinga.com/tech/25/01/43198776/will-warren-buffett-sell-more-apple-stock-after-iphone-sales-drop-in-china">during the same period</a>. 
A recent <a href="https://www.benzinga.com/tech/25/01/43198776/will-warren-buffett-sell-more-apple-stock-after-iphone-sales-drop-in-china">investor poll by Benzinga</a> showed opinion nearly evenly split on Buffett&#8217;s next move, with 56% believing he will maintain his remaining Apple position for the long term, while 44% expect further reductions soon.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44349451/third-largest-buy-the-dip-in-history-bofas-sees-correction-not-a-bear-market-amid-wall-street-rebound">Third-Largest &#8216;Buy-The-Dip&#8217; In History — BofA&#8217;s Sees &#8216;Correction, Not A Bear Market&#8217; Amid Wall Street Rebound</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

Warren Buffett Dumped Nearly 70% Of Apple Shares, But Its Price-To-Sales Ratio Remains Elevated At 8.2x, Warns This Market Analyst

Once a <a href="https://www.benzinga.com/government/24/01/36719920/roomba-maker-irobot-struggles-with-potential-eu-rejection-of-amazon-acquisition-and-falling-sales-an">potential acquisition target</a> for Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), iRobot Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRBT#NASDAQ">IRBT</a>) — the maker of Roomba — is now playing catch-up to hold its ground against Chinese competitors.
What Happened: iRobot, the company behind the iconic Roomba vacuum, is facing mounting pressure from Chinese tech manufacturers such as Roborock, Ecovacs, Xiaomi Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>), and Dreame Technology, <a href="https://asia.nikkei.com/Business/China-tech/Chinese-robot-vacuums-leave-Roomba-in-the-dust-with-arms-and-legs">reported</a> Nikkei Asia.
Once considered the undisputed leader in the robot vacuum market, iRobot's global market share has dropped from 35% in 2015 to just 22% in 2023, according to Euromonitor.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/03/44069535/jeff-bezos-backed-anthropic-pushes-for-stronger-us-ai-safeguards-saying-autocracies-like-china-russia-could-use-ai-to-expand-their-power-some-very-dark-possbilities" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Anthropic Pushes For Stronger US AI Safeguards, Saying Autocracies Like China, Russia Could Use AI To Expand Their Power: ‘Some Very Dark Possibilities'</a>
Beijing-based Roborock unveiled a new robot vacuum at CES 2025 featuring an AI-powered arm capable of picking up objects weighing up to 300 grams. The vacuum can recognize 108 objects out of the box, with room to program 50 more via app.
In Japan, where Roomba holds a 70% market share, Chinese rivals are rapidly gaining ground. Ecovacs is undercutting Roomba by nearly 30% with comparable features, while Xiaomi is preparing to launch robot vacuums in its new retail stores.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: On Wednesday, it reported a 44% year-over-year <a href="https://in.benzinga.com/25/03/44274332/why-consumer-robot-maker-irobots-stocks-are-plunging-today">drop in fourth-quarter sales</a>, totaling $172.03 million, surpassing the analyst consensus forecast of $171.00 million.
The company revealed significant uncertainty about its ability to sustain operations for at least 12 months following the release of its consolidated 2024 financial statements.
Due to these circumstances, it has canceled the fourth-quarter earnings call that was set for March 12, 2025, and is refraining from issuing a financial outlook for 2025 at this time.
Price Action: IRBT shares surged 21.11% on Friday, closing at $3.70. However, they dipped 0.27% in after-hours trading at the time of writing. Year-to-date, the stock has declined 53.46%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Photo Courtesy: DestinaDesign on Shutterstock.com
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://in.benzinga.com/25/02/43589437/bill-gates-on-musk-and-bezos-space-obsession-im-not-a-big-mars-person-its-not-a-very-hospitable-place" target="_blank" rel="noreferrer noopener">Bill Gates Would Rather Save Earth Than Colonize Mars — Unlike Elon Musk, Jeff Bezos: ‘I'm Not a Big Mars Person… It's Not a Very Hospitable Place'</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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