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  • Stonks: $INTC undervalued, Boeing ISS, $RIVN soars, iPhone controversy

Stonks: $INTC undervalued, Boeing ISS, $RIVN soars, iPhone controversy

Author

Michael Luo
June 26, 2024

Here’s the latest “under the radar” stock news from Reddit in the last 24 hours that you don’t want to miss, as picked by Fluid Bot’s AI.

Why Intel is the most undervalued tech stock right now. 

  • Intel ($INTC) is trading at 1999 stock price, extremely cheap compared to other tech stocks

  • Technology products from Intel are improving rapidly, with new AI chips and upcoming CPUs and GPUs

  • The real deal is Intel's Foundry segment, having exclusive access to ASML's next-gen EUV machines for sub 2nm silicon manufacturing

  • Microsoft & Qualcomm are already planning to use Intel's upcoming 18A node for future products

  • Investing in Intel now is like investing in NVIDIA before the AI boom

Boeing Starliner has left astronauts stranded on the ISS. Now what? 

  • Boeing's Starliner capsule faced multiple problems leaving astronauts stranded on the International Space Station

  • The capsule has suffered delays and technical issues since its launch on June 5

  • The return date for the astronauts is uncertain, with potential for a month-long mission instead of an 8-day one

  • NASA and Boeing are working on fixing the propulsion system issues to ensure a safe return

  • If necessary, Starliner can stay docked at the ISS for up to 72 days

  • Crew Dragon is considered as an alternative ride home for the astronauts if Starliner is unable to return them safely

  • Previous incidents of NASA astronauts needing alternative rides home are mentioned, emphasizing the importance of having backup plans in space missions

Rivian shares soar 30% after Volkswagen takes $1 billion stake

  • Volkswagen is investing $1 billion in electric vehicle startup Rivian to help with finances due to slow EV adoption

  • This deal comes after Ford Motor sold majority of its stake in Rivian in 2023

  • Rivian reported a loss of $1.45 billion in the first quarter of 2024

  • Rivian has been cutting costs by trimming staff, retooling its plant, and delaying construction of a new factory

  • Rivian had $7.86 billion in cash and total liquidity of over $9 billion as of March 2024

  • Volkswagen plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion

  • Rivian's shares soared more than 30% after the announcement

  • The additional $4 billion investment is expected to be made following the establishment of a joint venture

  • Rivian reported a loss of $1.45 billion in the first quarter of the year, with ongoing cost-cutting measures in place

  • Ford Motor and Amazon were among Rivian's largest stakeholders when it went public in 2021

iPhone manufacturer won’t hire married women in India, report claims 

  • Foxconn, a major producer of Apple devices, has been accused of not hiring married women at its main iPhone plant in India

  • Reasons given for the exclusion of married women include increased responsibilities, pregnancy, absenteeism, family responsibilities, and traditional jewelry worn by married Hindu women

  • Foxconn denies any discrimination and hires married women during labor shortages or periods of increased production

  • Apple and Foxconn have policies against discrimination based on marital status, but Indian law does not prohibit this practice

  • India has become a focal point for Apple's manufacturing, with plans to expand iPhone production in the country

  • Another Apple contractor, Wistron Corp, was accused of unfair labor practices in 2020 in India

  • The European Commission ruled that Apple's App Store policies violate the Digital Markets Act