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According to filings with the U.S. Securities and Exchange Commission (SEC), Apple (AAPL.O) Executive Chairman Tim Cooks annual salary is set at $2 million, effective September 26, 2026. Cook has also been approved for annual stock awards for fiscal year 2027, with a target value of $45 million.According to filings with the U.S. Securities and Exchange Commission (SEC), Apples (AAPL.O) new CEO, Tenus, has been approved for an annual stock award for fiscal year 2027, with a target value of $55 million.Apple Maps (AAPL.O) has begun adjusting the display of the name of Lake Ontario. US users will see "Lake of America," while Canadian users will still see "Lake Ontario." International users will see both names.On September 2nd, OpenAI announced plans to launch the Astra model soon, but will limit the availability of its most advanced cybersecurity features. The company stated on Tuesday that the model will be released "soon," but did not specify a timeframe. The company said Astras advanced cybersecurity capabilities will initially be available only to a limited number of testers, and will subsequently be made accessible to more users for defensive purposes through Project Daybreak Blue, along with accompanying cybersecurity safeguards. OpenAI had suspended some internal Astra operations in August to strengthen security. The company stated on Tuesday that Astra has reached a "critical cybersecurity threshold," enabling the identification and development of zero-day exploits without human intervention. To prevent abuse, OpenAI has further strengthened the models safeguards, including monitoring unauthorized activity and automatically stopping related activities.On September 2nd, Dell (DELL.N) significantly raised its annual sales forecast by $25 billion, exceeding analysts expectations and further demonstrating the continued surge in demand for servers needed to run artificial intelligence tasks. The company stated on Tuesday that its revenue for the fiscal year ending January 2027 is expected to be approximately $192 billion, with AI server sales projected to reach $74 billion. This forecast is higher than the approximately $167 billion given by the company in May and also exceeds the average analyst estimate of $173.8 billion. Dell expects AI server sales to triple compared to the previous fiscal year. This marks the fifth consecutive quarter that Dell has raised its fiscal year revenue forecast and exceeded market expectations. Amid the booming demand for AI, Dell is continuously securing orders for servers equipped with Nvidia AI chips, while demand for traditional servers is also growing. Dells shares rose nearly 10% in after-hours trading.

WTI struggles at $87 as recession worries probe OPEC's forecast and supply deficit fears intensify

Daniel Rogers

Sep 14, 2022 11:42

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After reverting from the weekly high, WTI crude oil traders seek clear direction around $87.50 during Wednesday's Asian session. However, the present hesitation in the price of black gold may be attributable to the mixed concerns regarding the demand-supply matrix.

 

The Organization of the Petroleum Exporting Countries (OPEC) indicated in a monthly report that oil consumption will climb by 3,1 million barrels per day (bpd) in 2022 and by 2,7 million barrels per day (bpd) in 2023, which is unchanged from last month. Despite obstacles such as rising prices, the news also highlighted indications that major economies were performing better than projected.

 

The news that the United States intends to replenish its emergency oil reserves, as well as the German and European move to control Russian oil and gas prices, could also be favorable for energy prices. In addition, rumors that the Western oil deal with Iran is a long way off are bolstering fears of a supply bottleneck and should have helped energy bulls.

 

Tuesday's US inflation statistics revived concerns about the Federal Reserve's fast rate hike and exacerbated recession concerns. Also acting as downward drivers for WTI crude oil are expectations of economic slowdown due to China and Russia-related concerns.

 

In spite of this, the US Consumer Price Index (CPI) for August increased by 8.3% year-over-year, surpassing market expectations by 0.1%. However, the monthly data increased to 0.1%, exceeding the -0.1% projected and the 0.0% shown in previous assessments. The core CPI, or CPI excluding food and energy, likewise exceeded the 6.1% consensus and 5.9% prior to printing at 6.3% for the month in question.

 

It should be mentioned that the weekly prints of the American Petroleum Institute's (API) industry inventory report also contributed to the commodity's downfall. The API Weekly Crude Oil Stock climbed to 6,035 million during the week ending September 9, up from 3,645,000 the previous week.

 

In the future, the price of black gold may stay under pressure due to a stronger US dollar and economic troubles. Before today's official weekly inventory data from the U.S. Energy Information Administration, however, the supply crisis concerns could test the bears (EIA). Thursday's US Retail Sales for the month of August and Friday's preliminary reading of the September Michigan Consumer Sentiment Index will also warrant close attention.

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